Group 1 - The A-share market has shown strong profitability this year, leading to increased dividend distribution by private equity funds, with 1,038 products distributing dividends totaling 14.085 billion yuan as of September 30, 2025 [1] - Stock strategy products have been the primary contributors to dividends, accounting for 107.35 billion yuan, which is 76.22% of the total, and achieving an average return of 31.19%, the highest among five mainstream strategies [1][2] - The active dividend distribution from stock strategy products is attributed to strong performance, management's intention to control product scale, and enhancing investor experience [1] Group 2 - Multi-asset strategies have distributed dividends 190 times, totaling 1.267 billion yuan, ranking second after stock strategies [2] - Subjective private equity products have shown more active dividend distribution, with 848 distributions totaling 94.15 billion yuan, while quantitative products have distributed 443 times for 46.70 billion yuan [2] - The rise in private equity fund dividends reflects both market profitability and management's efforts to optimize operations and improve investor experience [3] Group 3 - Market outlook suggests a continued upward trend amidst fluctuations, with investment strategies focusing on growth and balanced allocation, particularly in TMT, non-ferrous metals, and pharmaceutical sectors [3] - Companies with competitive advantages, high-quality earnings, and core technology patents are prioritized for stock selection, alongside those with improved fundamentals [3] - Confidence in China's economy and capital markets remains strong, with a focus on long-term competitive advantage in sectors represented by new productive forces [3]

科技和消费双主线。 作者 | Los 编辑 | 小白 过去三年的熊市，有很多基金经理靠着杠铃策略跑赢了市场，左手拿着价值右手拿着成长，仓位调配 得当就能有超额收益。保守派多配高股息类、中庸派走均衡路线、而激进派玩科技梭哈。当然在不同 的市场风格下，结果有着天壤之别。 一招鲜吃遍天在大A并不适用，市场风格时常切换，对每一个参与者都是考验，就像年内很多板块内 部都表现出剧烈分化。 例如：配科技玩机器人的收益好于玩算力，又好过持股通信的； 价值风格里，有色金属的表现大于钢铁大于银行，又远远超过煤炭和石油； 看好消费的美容护理年内领涨，农林牧渔次之，食品饮料相对较差。 而站在当下，再来看杠铃的两端，防守端很多基金经理都提到了消费，而进攻端科技是毋庸置疑的， 那具体的配置又是怎么样的？下面风云君再为大家介绍6位百亿级基金经理的动态，看他们怎么说？ 内需看白酒，外需看汽车零部件，是这两大顶流的共识 在A股投资消费，食品饮料是绕不开的板块，尤其它还是公募基金四大最爱行业之一。但以白酒为代 表的相关个股，从2021年最高点回落至今已跌去近40%，不少基民深套其中。 今年一季度，不少顶流又开始猛加白酒。 （一）杨思亮狂买白酒 ...