Group 1 - The company has signed a fund sales service agreement with China Construction Bank and other companies, allowing them to sell the Qianhai Kaiyuan Research Preferred Mixed Securities Investment Fund starting from August 1, 2025 [1] - The fund manager commits to managing and utilizing fund assets with honesty and diligence, but does not guarantee profits or minimum returns [1][4] - Investors are advised to read the fund contract, prospectus, and product information carefully to understand the risk-return characteristics before investing [1][4] Group 2 - The company announced that some of its funds participated in the offline subscription for the initial public offering of Yangzhou Tianfu Long Group Co., Ltd., with a lock-up period of 6 months for 10% of the allocated shares [2] - The specific sales arrangements by sales institutions will be subject to their regulations, and investors should pay attention to related announcements [3] - The company reserves the right to increase, decrease, or change the sales institutions as required by laws and regulations, and will publicly announce such changes on its official website [3]

Fund Overview - The fund is named Penghua ChiNext Comprehensive Exchange-Traded Open-Ended Index Securities Investment Fund, with a code of 159289 [10] - It is a type of exchange-traded open-ended stock fund [10] - The initial value of each fund share is set at 1.00 RMB [11] Fundraising Details - The fundraising period is from August 25, 2025, to August 29, 2025, with a maximum fundraising limit of 2 billion RMB, excluding interest and subscription fees [7][12] - Investors can subscribe through online cash subscription or offline cash subscription methods [13][20] - The minimum subscription amount for online cash subscription is 1,000 shares or multiples thereof, while for offline cash subscription, it is 1,000 shares through agents and 50,000 shares through the fund manager [14][29] Subscription Process - Investors must hold a Shenzhen securities account to participate in the subscription [31] - Existing account holders do not need to open a new account, while new investors must open an account before subscribing [32] - Subscription applications cannot be revoked once submitted [5] Fund Management and Custody - The fund is managed by Penghua Fund Management Co., Ltd., and the custodian is Guojin Securities Co., Ltd. [1][43] Regulatory Compliance - The fund's registration has been approved by the China Securities Regulatory Commission (CSRC) [1] - The fund will only be declared effective if it meets specific conditions, including a minimum of 200 investors and a total subscription amount of at least 200 million RMB by the end of the fundraising period [18][39]

Core Viewpoint - After three years of underperforming the market, actively managed equity funds have finally experienced a significant rebound this year [1][4]. Performance Analysis - The "Wande Equity Mixed Fund Index," representing actively managed equity funds, showed a performance of -21.03% in 2022, -13.52% in 2023, and 3.45% in 2024, underperforming the Shanghai Composite Index by 5.9, 9.82, and 9.22 percentage points respectively [2]. - As of August 6, 2023, the Wande Equity Mixed Fund Index has increased by 16.67%, outperforming the Shanghai Composite Index, which rose by 8.42%, and the CSI 300 Index, which increased by 4.54% [3][4]. Star Fund Managers' Performance - Among 242 actively managed equity funds with over 10 billion in management scale, only 35% outperformed the Wande Equity Mixed Fund Index, while 68% outperformed the Shanghai Composite Index, and 85% outperformed the CSI 300 Index [4]. - Despite some star fund managers performing well, over 60% of their funds underperformed the average of actively managed equity funds this year [4]. Sector Performance - The underperformance of some star fund managers is attributed to significant declines in core stocks they heavily invested in, particularly in the food and beverage sector, which fell by 6.06%, and the liquor index, which dropped by 8.41% [5]. - The renewable energy sector, including photovoltaic equipment, also saw a decline of 4.86% [6]. Notable Fund Managers - Top-performing fund managers this year include those focusing on the pharmaceutical sector, such as Ge Lan and Zhao Bei, with returns of 68.97% and 89.92% respectively, largely due to heavy investments in innovative drugs and Hong Kong stocks [7][9]. - Other successful fund managers include those with a growth-oriented strategy, such as Xie Zhiyu and Fu Pengbo, whose funds achieved returns of 34.48% and 22.63% respectively [11]. Market Trends - The current market is characterized by structural trends, with sectors like AI, innovative drugs, and new consumption experiencing significant growth, while traditional sectors like consumer goods and finance lag behind [14]. - The ability of fund managers to adapt to these structural changes and adjust their portfolios accordingly has become crucial for performance [14].

8月7日，天府文旅股票盘中跌停，成都新天府文化旅游发展股份有限公司,1995年成立,总部位于浙江杭州,深交所上市综合类体育公司,2016年被国家体育总局 评为"国家体育产业示范单位"。 财报显示，南方基金旗下南方中证房地产ETF为天府文旅前十大股东，今年一季度增持，持股比例为0.87%。今年以来收益率-1.39%，同类排名3200(总 3317)。 | 阶段涨幅 | 李度涨幅 | 7年以不日川找工坝区内大排口 年度涨幅 | | [] 下载天天基金手机版,随时查 | | | --- | --- | --- | --- | --- | --- | | | 近1周 | 近1月 | 近3月 | 近6月 | 今年来 | | 阶段涨幅 | 1.78% | 4.85% | 3.86% | 2.21% | -1.39% | | 同类平均6 | 0.08% | 6.41% | 11.29% | 11.89% | 12.24% | | 沪深300 | 0.96% | 3.77% | 7.39% | 5.70% | 4.57% | | 跟踪标的� | 1.75% | 4.54% | 3.55% | 2.02% | -1.48% | ...

Group 1 - The core point of the news is that Xinjiang Bayi Steel Co., Ltd. has experienced a continuous decline in stock price, with a total drop of 14.06% over six trading days [1] - Two funds managed by Huashang Fund have entered the top ten shareholders of Bayi Steel, both being new additions in the first quarter of this year [1] - The performance of the two funds is notable, with Huashang Credit Enhanced Bond A achieving a year-to-date return of 13.51%, ranking 64th out of 1,091 in its category, while Huashang Steady Dual Benefit Bond A has a return of 3.24%, ranking 449th [1] Group 2 - The fund manager for Huashang Credit Enhanced Bond A is Li Qian, who has been with Huashang Fund since April 2016 and has held various managerial positions [2][3] - Zhang Yongzhi manages Huashang Steady Dual Benefit Bond A and has extensive experience in the fund management industry, having worked in various roles since 1999 [2][6] - Huashang Fund Management Co., Ltd. was established in December 2005 and is currently led by Chairman Su Jinkui and General Manager Wang Xiaogang [6]

| O 基金经理 : 金晟哲 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 会晟哲 | 累计任职时间：8年又289天 任职起始日期：2016-10-24 现任基金公司：博时基金管理有限公司 现任基金资产 - 在管基金最佳 总规模 任期回报 49.16 乙元 88.78% | | 基金经理简介:金晟哲先生:中国国籍,硕士。2012年从北京大学硕士研究生毕业后加入博时基 金管理有限公司。历任研究员、高级研究员、资深研究员、博时睿利定增灵活配置混合型证 券投资基金(2017年2月28日-2017年12月1日)、博时睿益定增灵活配置混合型证券投资基金 (2017年2月28日-2018年2月22日)、博时睿益事件驱动灵活配置混合型证券投资基金(LOF) (2018年2月23日-2018年8月13日)、博时睿丰灵活配置定期开放混合型证券投资基金(2017年 3月22日-2018年12月8日)的基金经理、研究部副总经理、博时价值增长证券投资基金(2017年 11月13日-2021年7月12日)、博时睿利事件驱动灵活配置混合型证券投资基 ...

智通财经APP获悉，香港联交所最新资料显示，8月5日，富国基金管理有限公司增持美图公司 (01357)1296.35万股，平均每股作价为10.9345港元，总金额约为1.42亿港元。增持后最新持股数目约为 2.32亿股，最新持股比例为5.08%。 ...

Core Viewpoint - The stock of AVIC Chengfei experienced a significant decline of 2.83% on August 7, 2023, amid reports of fund reductions by E Fund in its major shareholders [1] Company Overview - AVIC Chengfei Co., Ltd. was established in 2002 and is located in Hanzhong City, primarily engaged in the manufacturing of computers, communications, and other electronic equipment [1] - The company has a registered capital of 26,720.91376 million RMB, with Sui Shaochun as the legal representative [1] Fund Performance - E Fund's two funds, E Fund ChiNext ETF and E Fund National Defense and Military Industry Mixed A, reduced their holdings in AVIC Chengfei during the second quarter of this year [1] - E Fund ChiNext ETF has a year-to-date return of 10.52%, ranking 816 out of 2004 in its category [2] - E Fund National Defense and Military Industry Mixed A has a year-to-date return of 14.04%, ranking 1352 out of 2874 in its category [2] Fund Manager Information - The fund managers for E Fund ChiNext ETF and E Fund National Defense and Military Industry Mixed A are Cheng Xi and Liu Shurong, respectively [6][9] - Cheng Xi has been managing the E Fund ChiNext ETF since May 7, 2016, and has extensive experience in various funds [6] - Liu Shurong has been managing multiple funds since July 18, 2017, and has a background in finance and investment management [9]

Macro Data Commentary - The report highlights the outstanding performance of small and mid-cap funds, with the average return of fund heavyweights at 8.94%, significantly outperforming the average return of the CSI 800 component stocks at 1.66% [1][15] - In the second quarter, 30 out of 31 industries saw fund heavyweights outperform their benchmark industry indices, with an excess return of 5.91% over the industry average [1][16] Timing Selection Ability - The report indicates that the asset allocation effects of various funds were not ideal, with equity funds reducing their average stock positions by 0.24 percentage points and mixed funds by 1.21 percentage points compared to the previous period [2][20] - The overall performance of the bond market was also subpar, with the total wealth index of bonds rising by only 1.53% while bond funds reduced their holdings by 0.12% [2][20] Risk Management Ability - The risk exchange efficiency of bond funds remained stable, with slight declines in both returns and volatility for equity and mixed funds [2][22] - The report notes that despite a recovery in the market since September, equity assets are still in a downward trend over a longer time frame [2][22] Comprehensive Management Ability - The report states that the Shanghai Securities comprehensive management ability index integrates performance across security selection, timing selection, and risk management [5][23] - Notable fund managers with outstanding performance include Jin Xin, Da Cheng, and Yuan Xin Yong Feng in the active management of equity funds, and Yi Fang Da, Tian Hong, and Bo Shi in pure bond funds [5][23] Fund Rating Performance Tracking - The report tracks the performance of rated funds, indicating that five-star funds maintain a 60% probability of being in the top 40% of their peers within 6 months to 1 year after rating [3][29] - Since 2015, the three-year return of five-star ordinary stock fund portfolios reached 216.93%, compared to only 38.82% for the CSI All Index [3][29]

Group 1 - The A-share market continues to show active trading momentum, with the margin balance reaching a new high of 2,009.4 billion yuan, indicating strong investor sentiment and positive expectations [1] - The A500 ETF by Huatai-PB has seen significant trading activity, with an average daily trading volume of 3.2 billion yuan since July, and its latest scale reaching 18.664 billion yuan, highlighting its liquidity advantage [1] - The Shanghai Composite Index has remained above 3,500 points since July 10 and returned to the 3,600-point mark on August 6, reflecting positive market signals [1] Group 2 - The A500 ETF has a cumulative net value of 1.0826 yuan as of August 6, 2025, making it one of the few ETFs tracking the CSI 500 Index to exceed this value, showcasing its operational performance and tracking accuracy [2] - The management and custody fees for the A500 ETF are among the lowest in the A-share market at 0.15% and 0.05% per year, respectively, which may attract cost-conscious investors [2] - Huatai-PB Fund, the manager of the A500 ETF, has over 18 years of experience in ETF management and oversees the largest ETF in the A-share market, the CSI 300 ETF, with a scale exceeding 517 billion yuan [2] Group 3 - The CSI 500 Index, characterized by its growth and value attributes, is expected to benefit from a gradual recovery in fundamentals and market confidence, making the A500 ETF a valuable tool for investors seeking quality core assets in the A-share market [3]