时隔一年半后，管理规模超百亿的主动权益基金经理（下称"百亿基金经理"）人数，重新回到100位以上。 券商中国记者近日从天相投顾基金评价中心（下称"天相投顾"）和理财魔方处获取的数据均显示，截至目前该人数已 超过110名。从阶段性分析来看，该人数历经此前持续下降后，已开始"探底回升"。 "百亿"规模新老有别。一是坚守消费、医药、新能源等赛道的基金经理逐渐淡出"百亿"舞台，新晋百亿基金经理在科 技、红利、量化等赛道崛起，契合了从"传统内需"向"科技创新+安全边际"的行情主线转变。二是新晋的百亿规模，主 要是业绩与行情共振的结果，与过往的"明星效应+大规模新发"形成鲜明对比。通过业绩做大规模固然可喜，但更重 要的是避免重蹈覆辙，通过制度和契约精神来实现规模与业绩的良性循环，并持续夯实循环根基。 "新"百亿基金经理的三大类型 天相投顾对券商中国记者提供的统计数据显示，百亿基金经理人数在2022年一季度是151位，于当年二季度升到163位 高点，平均管理规模超过200亿元。从2022年三季度开始，这一人数开始走低，到2023年末为106人。2024年一季度， 百亿基金经理人数跌破100，到2025年二季度末时只有82人 ...

Core Insights - The number of fund managers managing over 10 billion yuan has increased significantly, reaching 109 by the end of Q3, marking a nearly one-third increase from the previous quarter [1][2] - The industry is transitioning from a "star-making" model to a "platform" strategy, indicating a shift in focus from individual fund managers to a more collaborative approach [1][9] - The era of "trillion-level" top fund managers is unlikely to return, as the highest management scale among current fund managers has not exceeded 600 billion yuan, a significant drop from previous peaks [9][10] Fund Manager Performance - Notable fund managers like Zhang Kun, Xie Zhiyu, and Ge Lan have seen their management scales rebound, with Zhang Kun managing 565.44 billion yuan, an increase of nearly 15 billion yuan in a single quarter [3][4] - Newer fund managers, such as Ren Jie from Yongying Fund, have rapidly increased their management scales, with Ren's scale growing from 0.26 billion yuan to 128.78 billion yuan in just over a year [2][7] - Despite the growth in management scales, many top fund managers still face net redemptions, with over 330 billion units redeemed across their products in Q3 [6][11] Industry Dynamics - The current landscape features a mix of large institutions and emerging mid-sized firms, with companies like Yongying and Jinying successfully entering the "billion club" [1][7] - The top fund managers are distributed across 38 fund companies, with seven companies having five or more billion-yuan fund managers, accounting for nearly half of the total [6][10] - The industry is increasingly aware of the "double-edged sword" of scale, with many fund managers opting to limit rapid growth to maintain operational effectiveness and avoid the pitfalls of excessive scale [10][11] Market Outlook - The A-share market is experiencing a steady upward trend, with increased investor enthusiasm and significant inflows into equity markets, particularly in technology sectors [12][13] - Fund managers express cautious optimism about the market, predicting potential new highs while acknowledging the risks of profit-taking due to previous gains [12][13] - Long-term investment strategies focus on sectors like innovative pharmaceuticals and consumer healthcare, driven by structural changes in the economy and supportive policies [14]

数据显示，今年管理规模破百亿元的15位主动权益基金经理，规模增长率均超100%，其中有5位规模增 长率超200%。 (责任编辑：叶景) 来源：深圳商报 公募排排网数据显示，截至二季度末，相比去年，在84位百亿级主动权益基金经理中，共有15位基金经 理今年管理规模突破百亿元(包括新进或重回)。 在这15位百亿主动权益基金经理中，中欧基金、汇添富基金、永赢基金均不止一名基金经理上榜，其中 中欧基金有3位基金经理上榜，分别是蓝小康、王培和尹为醇，另外两家均有两位基金经理上榜，此 外，鹏华基金、易方达基金、广发基金、富国基金等8家公募机构均有1位基金经理上榜。 从管理规模来看，汇添富基金张韡、鹏华基金闫思倩、中欧基金蓝小康管理规模位列前三位，二季度末 管理规模依次为167.64亿元、161.36亿元和155.58亿元。永赢基金两位基金经理张璐和高楠位列第四名 和第五名，管理规模均超150亿元。 任职年限方面，这15位基金经理中，任职最短的接近4年，4位任职超10年，其中任职最长的是易方达基 金郭杰、景顺长城基金刘苏和中欧基金王培，均担任基金经理年限达12年。另外，富国基金杨栋任职年 限达10年。 ...