Core Viewpoint - The article discusses the significant net redemptions faced by Yang Xinxin, a fund manager at ICBC Credit Suisse Fund, during the second quarter, highlighting investor dissatisfaction with his performance [2][3][5]. Fund Performance - Yang Xinxin managed two funds that experienced substantial net redemptions: the ICBC Innovation Power Stock Fund with a net redemption of 1.563 billion shares and the ICBC Credit Suisse Select Balanced Mixed Fund with a net redemption of 561 million shares, totaling 2.124 billion shares in net redemptions for the quarter [2][3]. - The ICBC Innovation Power Stock Fund had a net value growth rate of -0.53% in Q2, significantly underperforming its benchmark return of 1.36%, resulting in a loss of 58.37 million yuan [3]. - The ICBC Credit Suisse Select Balanced Mixed Fund also underperformed, with a net value growth rate of 0.99% compared to its benchmark return of 1.52%, leading to a reduction in total shares from 3.236 billion to 2.675 billion [3]. Manager Background - Yang Xinxin is a five-star fund manager with over 11 years of experience, currently managing assets worth 4.538 billion yuan across two funds [5]. - Despite his extensive experience, Yang's recent performance has been disappointing, with the ICBC Innovation Power Stock Fund ranking 744th out of 958 comparable funds over the past year, and the ICBC Credit Suisse Select Balanced Mixed Fund ranking 3668th out of 4345 [5][6]. Investor Sentiment - The average return for 1770 equity fund managers this year was 12.65%, while Yang's return was only 4.69%, which is below the 4.89% increase of the CSI 300 Index [6]. - Institutional ownership in the ICBC Innovation Power Stock Fund decreased from 67.19% to 62.21% over the year, indicating a loss of confidence among institutional investors [6].

Core Insights - The total scale of public funds in China reached a historical high of 34.39 trillion yuan as of the end of June 2025, surpassing the 34 trillion yuan mark [1][3][5] - The public fund scale increased by over 650 billion yuan from the end of May, reflecting a month-on-month growth of 1.93% [2][3][5] Fund Type Analysis - Bond funds saw a significant increase in subscription enthusiasm, with a month-on-month growth of 6.11%, reaching a total of 6.15 trillion yuan [2][6] - Mixed funds experienced a month-on-month growth of 3.4%, with the latest scale reaching 3.69 trillion yuan, marking the first increase after two months of decline [6] - Equity funds, including stock and mixed funds, contributed to the overall growth, with equity fund scale increasing by 2.7 billion yuan to 8.42 trillion yuan [6] - QDII funds also saw growth, with a month-on-month increase of 0.78% in share and 4.51% in scale, reaching 5737.51 billion shares and 6837.73 billion yuan respectively [7] Fund Redemption and Shrinkage - Money market funds faced net redemptions in June, with 164.56 billion shares redeemed, leading to a decrease in scale to 14.23 trillion yuan, a decline of 1.67 billion yuan [8]

根据统计，截至4月22日一共有135只中证A500指数相关基金(不同份额分开统计，下同；包括普通指数 基金、指数增强基金、ETF、ETF联接基金，统称中证A500基金)发布一季报，135只基金一季度期间的 总申购为875.04亿份，总赎回为1343.68亿份，净赎回为468.64亿份。135只基金中有102只在一季度被净 赎回，占比75.56%。净赎回份额最大的是国泰中证A500ETF(51.57亿份)。另一方面，有33只基金一季度 获得净申购，嘉实中证A500ETF和富国中证A500ETF的净申购量均超过10亿份，分别为38.22亿份和 15.03亿份。除此之外，其余31只基金的净申购均在5亿份以下。(人民财讯) ...