特此公告。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上证公告（基金）【2026】28号 为促进易方达中证红利交易型开放式指数证券投资基金（以下简称100红利，基金代码:515180）的 市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上市基金做市业 务》等相关规定，本所同意东海证券股份有限公司自2026年01月08日起为100红利提供主做市服务。 上海证券交易所 2026年01月07日 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 为促进易方达上证50交易型开放式指数证券投资基金（以下简称SZ50ETF，基金代码:510100）的 市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上市基金做市业 务》等相关规定，本所同意东海证券股份有限公司自2026年01月08日起为SZ50ETF提供主做市服务。 特此公告。 上海证券交易所 2026年01月07日 上证公告（基金）【2026】22号 ...

特此公告。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上证公告（基金）【2026】25号 为促进易方达上证科创板50成份交易型开放式指数证券投资基金（以下简称科创板50，基金代 码:588080）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上 市基金做市业务》等相关规定，本所同意东海证券股份有限公司自2026年01月08日起为科创板50提供主 做市服务。 上海证券交易所 2026年01月07日 ...

香港强制性公积金（强积金）制度于2000年12月1日开始实施，是香港退休保障制度的第二支柱，由私营机构管理，接受积金局和香港金融监管机构监 管。 总资产达1.554万亿港元 来自积金评级的数据显示，以绝对金额计，香港强积金系统于2025年实现创纪录的2192亿港元投资收益，为香港强积金最高年度收益；相当于平均每名成 员获利45728港元。 分资产类别来看，中国香港及中国内地股票以31.27%的涨幅，成为表现最突出的强积金资产类别。这一回报率也是上述两项资产自2017年以来的最佳年 度表现。 投资收益创纪录加上供款注入，截至2025年底，香港强积金总资产达1.554万亿港元，相当于479万名成员，平均结余32.41万港元；这一数值较年初增加 54749港元。 香港强积金在2025年创下的空前财富增长，得益于中国香港及中国内地股票的强劲表现。成份基金方面，宏利环球精选（强积金）计划旗下的宏利MPF中 华威力基金成为2025年表现最好的中国香港及中国股票基金。 【导读】2025年香港强积金赚了2192亿港元，创历史新高 2025年，香港强积金实现2192亿港元投资收益，创历史新高。积金评级所有基金表现指数年回报率达 ...

格隆汇1月7日｜2026年1月8日14:00，格隆汇携手广发基金、汇添富基金、易方达基金，集结当下极具 实战深度与研究密度的专业力量，共同呈现——《2026潮起新程·开门红联名策略会》。与格隆汇创始 人格隆博士及三位顶尖基金专业人士汇添富基金马磊、广发基金夏浩洋、易方达基金杨正旺一起，站在 变化发生的地方，获取真正有价值的一手信息。 ...

Core Insights - In 2025, China's ETF market experienced significant growth, with total product scale surpassing 6 trillion yuan and total dividend distribution reaching a record high of 45.013 billion yuan, a 113% increase from 2024 [1] Group 1: ETF Dividend Growth - The total dividend amount for ETFs in 2025 reached 45.013 billion yuan, marking a historic high and a 113% increase from 2024 [1] - Broad-based ETFs contributed significantly to this growth, accounting for 31.288 billion yuan, or 69.51% of total ETF dividends, up from approximately 55% in 2024 [2] - Several core broad-based ETFs saw their annual dividends exceed 1 billion yuan, with notable increases: Huatai-PB CSI 300 ETF at 8.394 billion yuan (up 236%), E Fund CSI 300 ETF at 7.15 billion yuan (up 260%), and others also showing substantial growth [2][3] Group 2: Concentration of Dividends - The concentration of dividends among leading fund companies increased, with top firms raising both the frequency and amount of ETF dividends to attract long-term investors [4] - In 2025, major fund companies like Huaxia Fund, Huatai-PB Fund, and E Fund reported significant increases in ETF dividends, with Huaxia Fund distributing 10.131 billion yuan (up 161%) and Huatai-PB Fund distributing 9.599 billion yuan (up 196%) [4][5] - The top five fund companies collectively distributed 38.174 billion yuan, representing 84.8% of total ETF dividends, indicating a growing dominance in the ETF market [5] Group 3: Future Outlook - The future of ETF dividends is expected to improve further due to enhanced awareness of dividend policies among listed companies and innovations in ETF products [5] - As the dividend capabilities of ETFs increase, they are anticipated to become a more important market allocation tool, enhancing the investment experience for investors [5]

Core Viewpoint - The recent draft of the "Guidelines for Performance Assessment of Fund Management Companies" introduces significant reforms in the public fund industry, emphasizing performance-based compensation and dividend distribution, which may lead to salary reductions for nearly a thousand fund managers [1][6]. Group 1: Dividend Distribution Regulations - The guidelines require fund companies to prudently determine dividend frequency and ratio based on the long-term performance of fund products and investor gains and losses [1][6]. - For funds with poor performance over the past three years, the guidelines suggest reducing both the frequency and ratio of dividends [1][6]. Group 2: Financial Performance of Fuguo Fund - In 2024, Fuguo Fund reported an operating income of 6.405 billion yuan and a net profit of 1.751 billion yuan, with a total dividend payout of 1.092 billion yuan and a dividend rate of 62.36% [1][3]. - From 2015 to 2024, Fuguo Fund accumulated operating income of 47.515 billion yuan, net profit of 13.987 billion yuan, and total dividends of 6.327 billion yuan [1][3]. Group 3: Historical Dividend Rates - Fuguo Fund maintained a dividend rate exceeding 57% for three consecutive years from 2022 to 2024, distributing over 3.5 billion yuan in total dividends during this period [2][7]. - The dividend distribution data shows fluctuations, with the highest dividend rate recorded in 2016 at 102.94% and the lowest in 2015 at 16.97% [3][8]. Group 4: Fund Performance Metrics - From 2022 to 2024, 65% of Fuguo Fund's 237 products reported losses, with 59% underperforming their benchmarks [5][10]. - In contrast, from 2023 to 2025, only 9% of 278 products reported losses, indicating an improvement in performance metrics [4][9]. Group 5: Market Insights on Dividend Policies - Market analysts argue that excessively high dividend rates can hinder capital accumulation and risk management for fund companies, potentially affecting their innovation and expansion capabilities [11].

半个月前，《财中社》的文章《》提到，国投瑞银基金新增了一起司法纠纷，将于1月13日开庭，原告李智华因为金融委托理财合同纠纷将国投瑞银基金与 基金经理施成告上法庭。这位国投瑞银一手培养的明星基金经理，曾因重仓押注新能源赛道而引起广泛争议。2025年，在旗下基金收益几乎全线"告负"的压 力下，他转而重仓AI和机器人赛道，收到了明显效果。 近日，《财新》关注到了这起"投资者直接起诉基金经理"的纠纷，也引出了一个更加尖锐的问题：基金经理投资风格发生漂移，究竟是市场化调仓的自由裁 量，还是对基金合同的违约乃至重大明显过错？ 在科技主线行情下，施成旗下的基金产品虽然净值亮眼，但投资标的明显与基金名称不符，这也是业内俗称的"风格漂移特征明显"。 就拿国投瑞银新能源混合来说，这只产品的募集说明书明确约定，投资新能源主题相关行业证券的比例不能低于非现金基金资产的80%。但在2025年半年报 的全部持仓中，新能源相关概念股持仓市值只有约5.3亿元，占整体基金持仓市值的24.13%；2025年三季报中披露了前十大重仓股，其中新能源相关个股只 剩下科达利（002850）一只，占股票市值约5.95%。 投资风格漂移引争议 律师表示，公 ...

公募基金在一场不太体面的战斗里告别了2025年。 去年 12 月末的最后几个交易日，一则围绕中证 A500ETF 的花边传闻，在水面之下传得有声有色：一边传的是"买量怪"力争让自家的 A500 坐稳季末规模 的头把交椅，一边传的是"举报怪"打不赢又输不起，转头选择了告老师。 至今，没有任何组织宣布对这起传闻负责，但 A500ETF 确实在没有太多散户消费的迹象下，闷声在 12 月上了一个台阶，全部 A500ETF 产品的总规模单 月暴涨了 1000 多亿。 | 沪深交易所年末A500ETF规模排名变化 数据截止日期: 2025年12月31日 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025 年 12 月 1 日 A500ETF 战况 | | | | | 2025 年 12 月 31 日 A500ETF 战兄 | | | 交易所 排名 基金公司 A500规模 | | | | 排名 | 基金公司 A500规模 | 变动 | | 259 亿 | 1 | 华泰柏瑞 | | 1 | 华泰柏瑞 | 494 亿 + 235 亿 | | 上海交易 ...

Core Insights - In 2025, Hong Kong's Mandatory Provident Fund (MPF) achieved a record investment return of HKD 219.2 billion, marking the highest annual performance since the system's inception [2][4] - The annual return rate reached 16.73%, making 2025 the fourth-best year in terms of returns since the MPF was established [2] - The total assets of the MPF reached HKD 1.554 trillion by the end of 2025, benefiting from strong contributions and investment performance [3][4] Investment Performance - The average profit per member was HKD 45,728, with the strong performance of Hong Kong and mainland Chinese stocks contributing significantly, showing a 31.27% increase, the best performance since 2017 [4] - The MPF's total assets increased by HKD 54,749 per member compared to the beginning of the year, with an average balance of HKD 324,100 [4] Fund Categories - As of October 2025, stock funds and mixed asset funds, which account for 80% of the total MPF assets, recorded cumulative net returns of 240% and 200%, respectively, outperforming the annual inflation rate of 1.8% [6][7] - The performance of various fund types since 2000 includes: - Stock Funds: 46% of total assets, 240.5% cumulative net return, 5.0% annualized net return - Mixed Asset Funds: 34% of total assets, 201.3% cumulative net return, 4.5% annualized net return - Bond Funds: 4% of total assets, 58.6% cumulative net return, 1.9% annualized net return - Guaranteed Funds: 5% of total assets, 35.4% cumulative net return, 1.2% annualized net return - Money Market Funds: 11% of total assets, 27.3% cumulative net return, 1.0% annualized net return [7] Default Investment Strategy - The Default Investment Strategy (DIS), launched in 2017, has gained popularity, with core accumulation funds under DIS achieving an average annualized net return of 6.9% [8] - More MPF plans have joined the MPF Easy platform, which caps administrative fees at 0.37%, benefiting over 10 million member accounts [8]