2. 公募机构大力布局增强指数型基金。在近年被动产品大发展的背景下，"进可攻退可守"的增强指数型基金得到了公募机构的青睐，众多基金公司今年以 来加大了对该类产品的布局力度。数据显示，今年以来新发行的增强指数型基金数量已破百，超过2024年和2023年的全年新发数量。在业绩方面，部分增 强指数型基金取得了良好的超额收益，人气激增。 3. 明星基金经理"以老带新"！刘格菘最新调仓曝光。广发基金公告称，刘格菘将不再管理广发多元新兴股票基金。刘格菘于今日卸任该产品，广发多元新 兴股票基金成为周智硕独立管理的首只基金。过去六年间，刘格菘、傅友兴、李耀柱、唐晓斌等一拖多的老将，也多次出现"以老带新"给新选手交钥匙的 现象。目前，刘格菘所管基金产品的总规模仍超300亿，其中广发行业严选、广发双擎升级为代表作，投资偏好开始更加多元化。根据其8月底发布的2025 年中期报告，刘格菘一方面开始南下布局港股市场，另一方面则开始在仓位中突出新经济、互联网公司、新消费的比重。 4. 高盛：对冲基金对中国的毛头寸达到两年来新高。高盛主经纪商（Prime Services）数据显示，全球对冲基金对亚洲股票市场风险偏好连续4个月高企。 8月 ...

1. 投向领域扩围，多地专项债券注入政府投资基金。 截至目前，全国已有27个省份（含兵团）披露了9月份地方债发行计划，拟发行规模约7771亿 元，其中新增专项债计划发行规模4601亿元。值得注意的是，多地拟将专项债投向领域扩大至政府投资基金。业内人士表示，这是财政资金的一次创新尝 试，将专项债投向扩大至政府投资基金或有助于提高专项债资金使用效率，同时拓宽政府投资基金的资金来源，更好助力地方产业升级。 2. 公募机构大力布局增强指数型基金。 在近年被动产品大发展的背景下，"进可攻退可守"的增强指数型基金得到了公募机构的青睐，众多基金公司今 年以来加大了对该类产品的布局力度。数据显示，今年以来新发行的增强指数型基金数量已破百，超过2024年和2023年的全年新发数量。在业绩方面，部 分增强指数型基金取得了良好的超额收益，人气激增。 5. 第二批科创债ETF正式获批 "花落"14家基金公司。 第二批科创债ETF正式获批，"花落"14家基金公司。从具体跟踪指数看，10只科创债ETF将跟 踪中证AAA科技创新公司债指数，3只跟踪上证AAA科技创新公司债指数，1只跟踪深证AAA科技创新公司债指数。多位业内人士表示，科创债 ...

Group 1 - The U.S. stock market continues to hit historical highs, driven by expectations of three interest rate cuts by the Federal Reserve this year, with a shift in focus from tariff-related inflation risks to concerns about a slowing job market [1][2] - Michael Hartnett, Chief U.S. Equity Strategist at Bank of America, warns of "extreme bullish sentiment" among investors, which could signal a market reversal, especially if cash holdings drop below 3.7% and stock allocations rise significantly [2] - Current investor sentiment is characterized by a strong belief in the Federal Reserve's decision-making, as evidenced by rising financial stocks and narrowing credit spreads [2] Group 2 - Gold funds have seen a significant inflow of $3.4 billion in a single week, marking the fourth-largest weekly inflow in history, as investors seek to hedge against inflation [3] - The investment philosophy of "ABD" (Anything But the Dollar) is emerging, with a notable increase in capital expenditures among hyperscaler tech companies, which have doubled to 72% of cash flow over the past two years [3] - Hartnett advocates for a "BIG" investment strategy, focusing on Bonds, International assets, and Gold, while maintaining a view that 30-year U.S. Treasury yields will drop to around 4% [3] Group 3 - Market sentiment is expected to shift seasonally, favoring Europe in spring, China in summer, and Japan by year-end, while gold remains a preferred tool for hedging against disorderly risks and dollar depreciation [4] - Bank of America anticipates that gold prices could rise further, potentially reaching $3,700 by the end of the year [4]