基金管理人：嘉实基金管理有限公司 2、本基金是契约型开放式股票型证券投资基金。 基金简称：嘉实中证A500指数增强A，基金代码：025311，收取认（申）购费 基金简称：嘉实中证A500指数增强C，基金代码：025312，不收取认（申）购费，但从本类别基金资产 中计提销售服务费 3、本基金的管理人为嘉实基金管理有限公司（以下简称"本公司"），托管人为中国邮政储蓄银行股份 有限公司（以下简称"中国邮政储蓄银行"），注册登记机构为本公司。 4、本基金募集对象是符合法律法规规定的可投资于证券投资基金的个人投资者、机构投资者、合格境 外投资者以及法律法规或中国证监会允许购买证券投资基金的其他投资人。 5、本基金自2025年9月1日至2025年9月19日通过各销售机构公开发售。 6、认购最低限额： 基金托管人：中国邮政储蓄银行股份有限公司 二〇二五年八月 重要提示 1、嘉实中证A500指数增强型证券投资基金（以下简称"本基金"）经中国证监会2025年8月4日证监许可 〔2025〕1684号《关于准予嘉实中证A500指数增强型证券投资基金注册的批复》准予注册募集。 在基金募集期内，投资者通过嘉实基金管理有限公司网上直销或 ...

- Index enhancement funds combine passive tracking with active or quantitative strategies to achieve excess returns while maintaining a close tracking of specific market indices (e.g., CSI 300, CSI 500) [11] - The construction of index enhancement funds involves allocating most of the portfolio to index constituent stocks to ensure market-synchronized returns, while the remaining portion is optimized through fundamental stock selection, quantitative models (e.g., multi-factor strategies), IPO participation, or derivatives (e.g., stock index futures) [11] - Broad-based index enhancement funds dominate the market, accounting for approximately 91% of the total index enhancement fund scale as of June 30, 2025, with a scale of 1880.6 billion yuan [2][12] - SmartBeta index enhancement funds, which use factor strategies (e.g., dividends, low volatility) to optimize constituent stock weights, reached a scale of 69.4 billion yuan as of June 30, 2025, after peaking at 102.7 billion yuan in 2023 [12][18] - Industry-based index enhancement funds, composed of stocks from a single industry, reached a scale of 93.1 billion yuan as of June 30, 2025, showing rapid growth since 2021 [12][18] - Thematic index enhancement funds, focusing on cross-industry themes, have maintained a scale below 25 billion yuan with relatively flat growth [12][18] - As of August 1, 2025, the CSI 2000-related index enhancement funds demonstrated the highest median excess return of 11.94% year-to-date, with relatively moderate annualized tracking errors [6][28][31] - Year-to-date, the top-performing indices in terms of excess returns include CSI 2000, CNI 2000, and CSI 1000, all exceeding 4% in excess returns, with moderate tracking errors [2][28][31]

一键布局科技新周期，华夏量化"军团"实力护航 近年来，全球资本市场波动率显著抬升，A股市场亦呈 现出结构性分化特征。相较于完全被动的指数基金，指数增强型基金的投资目标更为明确，其旨在在严 格控制跟踪误差的前提下，追求稳定、持续地超越标的指数的表现，实现β收益与α收益的双重捕获。 华夏上证科创板综合指数增强(代码：A 类 024879/C 类 024880)正是这一策略的典型代表。该基金主要 采用指数增强量化投资策略，筛选优质上市公司、优化投资组合。投资比例上，基金将不低于80%的资 产投资于股票，其中不低于非现金基金资产80%的仓位配置标的指数成分股及备选股，在确保跟踪精度 的同时保留20%的主动管理空间。 基金经理的实力是超额收益的核心变量。华夏上证科创板综合指数 增强(代码：A 类 024879/C 类 024880)拟任基金经理孙然晔，拥有 11 年量化投资经验，曾任美国 AQR 资本核心策略研究员，开发的策略模型经多个市场验证。凭借在量化投资领域的深厚积累，孙然晔在实 施主动增强策略时具备天然优势。截至2025年6月30日，其管理的华夏国证2000指数增强A(018292)交出 了一份亮眼成绩单：近一 ...

Core Viewpoint - The report provides an overview of the performance and management of the Dongcai Food and Beverage Index Enhanced Fund, highlighting its investment strategy, financial indicators, and net asset value performance during the reporting period from April 1, 2025, to June 30, 2025 [1][2]. Fund Product Overview - Fund Name: Dongcai Food and Beverage Index Enhanced Fund - Fund Code: 012340 - Fund Type: Contractual open-end fund - Effective Date of Fund Contract: November 2, 2021 - Total Fund Shares at Reporting Period End: 76,102,528.41 shares - Investment Objective: To effectively track the benchmark index while striving for higher investment returns through enhanced active investment strategies [2]. - Investment Strategy: Utilizes index-based investment methods and quantitative strategies to achieve excess returns while controlling tracking errors [2]. - Performance Benchmark: 95% of the return of the China Securities Food and Beverage Index plus 5% of the after-tax return of bank demand deposits [2]. Financial Indicators and Fund Net Value Performance - The fund's net value performance for different periods is as follows: - Last three months: -3.20% for Class A, -3.25% for Class C, -3.26% for Class E, with benchmark return of -4.61% [4][9]. - Last six months: -3.73% for Class A, -3.86% for Class C, -3.86% for Class E, with benchmark return of -6.31% [4][9]. - Last year: -1.29% for Class A, -1.58% for Class C, -1.58% for Class E, with benchmark return of 2.18% [4][9]. - Since fund contract inception: -39.57% for Class A, -40.22% for Class C, -39.57% for Class E, with benchmark return of -37.35% [4][9]. Investment Portfolio Report - As of June 30, 2025, the fund's total assets included: - Stocks: 43,104,672.76 yuan, accounting for 93.74% of total assets [11]. - The fund did not hold any bonds or asset-backed securities during the reporting period [12]. - The manufacturing sector represented the largest portion of the investment portfolio, with a fair value of 41,897,367.76 yuan, accounting for 91.68% of the fund's net asset value [11].

Core Viewpoint - The report outlines the performance and investment strategy of the Yongying Shanghai Stock Exchange Science and Technology Innovation Board 100 Index Enhanced Fund for the second quarter of 2025, highlighting its focus on achieving returns that exceed the benchmark while managing risks effectively [1][4]. Fund Overview - Fund Name: Yongying Shanghai Stock Exchange Science and Technology Innovation Board 100 Index Enhanced Fund - Fund Manager: Yongying Fund Management Co., Ltd. - Fund Custodian: China Merchants Bank Co., Ltd. - Total Fund Shares at Period End: 25,789,800.27 shares [1][2]. Performance Metrics - Net Asset Value Growth Rate for Class A: 2.12% with a benchmark return of 2.53% - Net Asset Value Growth Rate for Class C: 2.02% with a benchmark return of 2.53% - Performance over the past three months: Class A 2.12%, Class C 2.02%, with respective benchmark returns of 2.53% [5][6]. Investment Strategy - The fund employs an index-enhanced strategy, focusing on stock selection based on fundamental analysis, particularly targeting companies with good growth potential. - The fund aims to maintain an average tracking deviation of no more than 0.5% and an annualized tracking error of no more than 8% [1][4]. Asset Allocation - Total Assets: 30,670,925.18 CNY - Equity Investments: 90.93% of total assets - Bond Investments: 2.70% of total assets - Major sectors include Manufacturing (80.06%) and Information Technology Services (13.51%) [5][6]. Management and Compliance - The fund management adheres to strict compliance with investment regulations and maintains a disciplined investment process to ensure fair treatment of all investment portfolios. - No significant violations of fair trading practices were reported during the period [3][4]. Fund Share Changes - Class A Fund Shares at Period Start: 12,402,699.80 - Class C Fund Shares at Period Start: 8,738,539.10 - Total Subscription for Class A: 1,852,450.65, Total Redemption: 1,059,975.64 - Total Subscription for Class C: 12,009,021.05, Total Redemption: 8,152,934.69 [6][7]. Key Personnel - Fund Managers: Zhang Lu and Qian Houxiang, both with 10 years of experience in the securities industry [2][4].

Core Viewpoint - The article emphasizes that the China Securities 1000 Index Enhanced Products (referred to as "指增产品") are a popular choice for investors due to their dual return logic of index beta (β) and excess alpha (α) [2] Group 1: Characteristics of the China Securities 1000 Index - The China Securities 1000 Index consists of 1000 stocks that are smaller in size and have good liquidity, excluding stocks from the CSI 300 and CSI 500 [4] - The index covers all 31 first-level industries, with the top ten stocks accounting for only about 3.75%, effectively diversifying industry risk and enhancing anti-risk capabilities [4] - The index's component stocks are primarily small and medium-sized companies, particularly in technology, which are expected to benefit from China's transition to high-quality economic development [4][5] Group 2: Growth Potential and Elasticity - As of June 4, 2025, the index includes 147 national-level specialized "little giant" enterprises, a higher proportion than the CSI 300 and CSI 500 [5] - The top five industries by weight in the index are Electronics (14.67%), Pharmaceuticals (10.61%), Computers (8.14%), Power Equipment (8.03%), and Machinery (6.34%), collectively accounting for nearly 48% [5] - The historical maximum increase of the China Securities 1000 Index reached 342% during the rapid development of the smartphone and "Internet+" industries from 2013 to 2015, significantly outperforming other indices [7] Group 3: Performance and Valuation - Since its base date on December 31, 2004, the annualized growth rate of the China Securities 1000 Index has reached 9.57%, with a maximum increase of 2143%, indicating strong explosive potential during market rallies [8] - As of June 4, 2025, the price-to-earnings ratio (TTM) of the index is 26.16, positioned at approximately the 45th percentile historically, suggesting a relatively reasonable valuation and a good entry point for investors [8] Group 4: Performance of Enhanced Products - As of the end of May 2025, private equity products based on the China Securities 1000 Index have significantly outperformed the index across various time frames, highlighting their attractiveness for asset allocation [11] - The average returns of private equity China Securities 1000 Index Enhanced Products for 2025 year-to-date, the last six months, the last year, the last three years, and the last five years have all shown substantial outperformance compared to the index [12] Group 5: Top Performing Products - The article lists the top 20 private equity products based on excess returns over the past three years, indicating strong performance from several large private equity firms [13]