Core Viewpoint - The number of active equity fund managers managing over 10 billion yuan has rebounded to 109, marking a nearly one-third increase from the previous quarter, indicating a significant expansion in the industry [4][5]. Group 1: Fund Manager Expansion - As of the end of Q3, there are over 1,720 active equity fund managers, with 109 managing over 10 billion yuan, a substantial increase from the previous quarter [5]. - New fund managers, such as Ren Jie from Yongying Fund, have seen rapid growth, with his fund returning 198.11% year-to-date, leading to a surge in managed assets from 0.26 million yuan to 12.878 billion yuan [6]. - Established managers like Zhang Kun from E Fund and Xie Zhiyu from Xingzheng Global Fund have also regained significant asset management sizes, with Zhang managing 56.544 billion yuan, and both Xie and Ge Lan returning to the 40 billion yuan tier [6][8]. Group 2: Investor Sentiment and Redemption Trends - Despite the recovery in fund sizes, investor sentiment remains cautious, with a notable trend of "profit-taking" leading to net redemptions of over 33 billion units from top fund managers' products [7]. - Many fund managers are experiencing growth due to association with larger, well-performing funds, as seen with Zhao Lei from China Europe Fund, who entered the 10 billion yuan club after being appointed to manage a successful fund [7]. Group 3: Industry Dynamics and Future Outlook - The current landscape shows a shift from the "star-making" era to a focus on platform-based strategies, with a recognition of the challenges posed by large asset sizes [10][12]. - The industry is moving away from the "star fund manager" model, emphasizing a more integrated and multi-strategy research approach to mitigate risks associated with large fund sizes [10][11]. - The fee structure and performance assessment mechanisms are evolving, with some fund managers opting to limit rapid growth to maintain operational effectiveness and avoid the pitfalls of short-term performance-driven investments [11][12]. Group 4: Market Trends and Investment Strategies - The A-share market is experiencing a steady upward trend, with increased investor enthusiasm for equity markets, particularly in technology sectors [13]. - Fund managers like Chen Ying anticipate continued high-risk appetite in the market, although potential profit-taking may lead to a more volatile environment in Q4 [13]. - Long-term investment strategies are focusing on sectors like innovative pharmaceuticals, with managers like Ge Lan highlighting the importance of quality and innovation in driving industry growth [15].

前三季度公募基金高管变动家数已超去年同期。 与去年同期相比，高管变更总人数略有减少，但涉及的公司数量却超过了去年同期的122家。 若只从董事长、总经理的变动情况来看，与去年同期相比，董事长的更替更为频繁，变动人数与涉及公 司数量同比增幅分别达34.55%、23.33%；总经理职位在2025年前三季度的变动人数与涉及公司数量同 比分别下降了9.52%、25.64%。 董事长变更近乎四天一例 从董事长的变动来看，有37家基金公司董事长发生变动，变动人数达74人，远超去年同期的30家公募与 55人变动数量。以此频率折算，前三季度（275天）相当于平均每3.7天就发生一例董事长变动，几乎每 周（前三季度有39周）都涉及一家基金公司。 此前，中小公募是董事长变动的"高发地"，而今年不少头部公募也变更了"掌舵人"，如易方达基金、华 夏基金、招商基金、汇添富基金、兴证全球基金、景顺长城基金。 具体来看，许多新任董事长来自公司的主要股东方，如汇添富基金董事长鲁伟铭为公司控股股东东方证 券副董事长，兴银基金董事长黄德良为公司控股股东华福证券董事长，华夏基金董事长邹迎光为公司控 股股东中信证券总经理。 此外，在正式董事长人选确定 ...

【大河财立方 记者 孙凯杰】今年，你买的基金分红了吗？ 近期，公募基金密集宣布分红。Wind数据显示，截至6月18日，年内全市场已有超2000只基金宣布分红，分红次数近3000次。按照权益登记日计算，总金 额达到1095亿元，相比于2024年同期的756亿元，增长了45%。 指数型、债券型基金参与分红较多 6月11日，全市场规模最大的基金——华泰柏瑞沪深300ETF宣布了分红方案，每10份基金份额分红0.880元，将于6月27日派发红利。以该基金份额总数估 算，本次分红总额将超过80亿元，刷新了公募基金单次分红的最高纪录。 大河财立方记者观察到，目前，多数基金提供两种分红方式，现金分红和红利再投资，分红方式可由投资者自行选择。现金分红方式，投资者将直接获得 现金；红利再投资方式，投资者所获分配的现金收益将按照基金合同自动转换为基金份额形式进行再投资。 专家：基金增加分红，对基金经理和投资者都有好处 2024年，公募基金规模持续增长，在2025年4月底突破了33万亿元大关，ETF基金规模也首次突破了4万亿元。 | 基金名称 | | 华泰柏瑞沪深 300 交易型开放式 | | --- | --- | --- | ...