■行业纵深 投顾配置ETF"开闸" 机构提前卡位新赛道 ◎记者 聂林浩 "丰富科创板指数及ETF品类，将科创板ETF纳入基金投顾配置范围"的政策指引，意味着"投顾+ETF"财 富管理新模式有望加速到来。近年来，伴随ETF市场的迅猛发展，将ETF纳入基金投顾配置范围的呼声 越来越高。而美国等成熟市场的实践表明，投顾与ETF的深度融合能有效拓宽投顾策略空间，提升投资 效率，更能进一步反哺ETF，实现协同发展。为迎接这一新模式的到来，不少机构已在投研、科技、策 略等多个维度积极备战。 投顾与ETF融合在即 ETF已成为中国资本市场的重要组成部分。Choice数据显示，截至6月19日，境内上市的ETF总数已达 1200只，资产规模约4.18万亿元，品类覆盖境内和境外的股票、债券、货币、商品等多种资产类型。 "在迅猛发展的同时，ETF也暴露出一些弊端。当前ETF行业步入转型关键期，传统的重规模轻服务、重 首发轻持营的销售模式已显疲态。与海外成熟市场相比，当前国内ETF市场缺乏专业的买方投顾力 量。"某基金研究分析师说。 据了解，目前基金投顾尚不能配置场内ETF产品，而业内关于将ETF纳入基金投顾配置范围的呼声由来 已久 ...

Core Viewpoint - The ARK Innovation ETF (ARKK), led by Cathie Wood, has shown significant recovery and outperformance compared to the S&P 500 Index, driven by a favorable market environment and strategic positioning in high-growth sectors [5][11]. Group 1: Performance Overview - ARKK shares surged from $33 to $160 during the post-COVID bull market, but subsequently fell to under $40 due to market corrections in 2022 [3]. - Over the past year, ARKK has gained 61.26%, significantly outperforming the S&P 500's 9.87% return [5]. Group 2: Market Conditions - The tech-heavy Nasdaq 100 Index ETF has risen from approximately $400 to over $500, indicating a strong bull market that benefits high-growth stocks like those in ARKK's portfolio [8]. - The current market environment is characterized by a robust IPO market, which presents new growth opportunities for ARKK [10]. Group 3: Strategic Positioning - ARKK is focused on industries with strong growth potential, such as artificial intelligence, robotics, and digital assets, which are expected to continue outperforming as these technologies mature [9]. - The team has capitalized on new IPOs, exemplified by their investment in Circle Group, which saw its stock price increase from $64 to $300 shortly after its debut [10].

Core Insights - The establishment of floating fee rate funds marks a new era in the public fund industry, linking management fees to performance, reflecting investor acceptance of innovative fee structures [2][6][7] - The top three fund companies dominate the market, capturing nearly 40% of the total fundraising, indicating significant scale differentiation [3][5] Fund Performance and Structure - As of June 23, 2023, 13 out of 26 approved floating fee rate funds have been successfully established, raising a total of over 12.6 billion yuan, with an average fund size of 969 million yuan [2] - The top three funds by size are: - Dongfanghong Core Value A: 1.991 billion yuan - Yifangda Growth Progress A: 1.704 billion yuan - Ping An Value Enjoyment A: 1.322 billion yuan These three funds together raised 5.017 billion yuan, accounting for nearly 40% of the total [3][4] Market Dynamics - The average subscription period for the 13 funds was only 22 days, significantly shorter than the industry average, indicating strong market demand for the new fee structure [6][7] - The floating fee structure ties management fees directly to performance, encouraging fund managers to enhance their investment capabilities [6][7] Investor Behavior - The average subscription amount for the top-performing funds indicates a strong interest from institutional investors, with Tianhong Quality Value A achieving an average subscription amount of 234,000 yuan despite a lower total subscription count [5][6] - The popularity of the top funds is evident, with Yifangda Growth Progress A attracting 47,301 subscriptions, making it the most widely subscribed fund among the new offerings [4][5] Industry Transformation - The emergence of floating fee rate funds signals a shift from a fixed fee model to a performance-driven model in the public fund industry, potentially reshaping the competitive landscape [6][7] - Industry experts suggest that while leading firms have established a strong foothold, the market remains dynamic, with opportunities for smaller firms to gain traction through consistent performance [7]

文 | 银行螺丝钉 （转载请注明出处） 基金投顾，顾名思义，就是基金的投资顾问。 很多行业都有顾问，特别是一些专业性很强的行业。 例如， 基金投资也是如此。 基金投顾的诞生，正是为了解决基金行业存在的"基金赚钱，基民不赚钱"的问题。 那么，基金投顾有哪些优势？ 是如何通过"投"和"顾"，帮助投资者获得好收益的呢？ 这里有一门限时免费的福利课程，介绍了基金投顾的方方面面。 想要获取这个课程，可以添加下方「课程小助手」，回复「 基金投顾 」领取哦～ 更有课程笔记、思维导图，帮您快速搞懂课程脉络，学习更高效。 ◆◆◆ ▼点击阅读原 文，免费学习大额家庭资产配置课程 • 看病吃药，需要医生，医生就是顾问； • 有法律问题，需要律师，律师也是顾问。 ...

6月21日， 湖北省政府种子基金 成立，为初创企业提供更有力的资金支持。 种子基金是专门为创业企业早期研发阶段提供资金支持的投资基金。本次成立的省政府种子基金由 长江产业集团旗下楚天凤鸣基金为主导，分别同武汉大学等高校成立科技成果转化种子基金，同东 湖高新区等成立区域性科创种子基金，同江城实验室等研发机构成立重点行业领域科创种子基金。 湖北省财政厅金融处副处长 王晓兴：将100亿元的楚天凤鸣基金打造成湖北的科创母基金，同时把 创投基金的存续期从十年延长到十五年，做长期资本、耐心资本，能够让更多的种子项目和企业在 湖北生根发芽。 同时发布的《湖北省重构政府引导基金体系工作方案》提出，允许单个投资项目"100%亏损"，湖 北也成为我国目前首个省级层面允许单个项目100%亏损的省份。华中农业大学刘培文教授团队是 今天首批签约者，他们正在研发从虾壳中提取甲壳素纳米晶技术，产业化后可用于建筑油漆、电池 隔膜等领域。 华中农业大学工学院教授 刘培文：很多资本其实有非常严苛的对赌协议，对于学校里的这种硬科 技，想要走出第一步很难。允许100%的亏损，我觉得非常重要。 允许单个项目的亏损却可以换来产业创新的更大活力。为确保改 ...

【导读】上周五，股票ETF资金净流入45亿元 6月20日（上周五），A股市场震荡下行，三大指数集体调整，两市成交1.07万亿元。部分资金继续选择逢低入场。 统计显示，资金净流入前20大股票ETF中，中证500ETF有1只，中证1000ETF有3只，科创ETF有2只，军工、半导体芯片、医药等行业ETF各有2只。 头部基金公司中，6月20日，易方达基金旗下的创业板ETF净流入3.9亿元，沪深300ETF易方达净流入1.5亿元，科创板50ETF净流入1.4亿元，恒生科技ETF 易方达净流入0.4亿元。 值得一提的是，6月20日，债券ETF净流入超百亿元，近八成来自信用债ETF。当日，公司债ETF易方达单日净流入超9亿元，月内净流入已超60亿元，最 新规模达到178亿元，在8只基准做市公司债ETF中居前。 华夏基金ETF中，6月20日，A500ETF基金单日净流入2.55亿元，最新规模为154.9亿元，对应跟踪指数近一月日均成交额分别为65.17亿元和27.91亿元。中 证1000ETF净流入2.12亿元，科创50ETF、芯片ET和机器人ETF净流入都超1亿元。此外，债券ETF中，华夏信用债ETF基金净流入超过11亿 ...

20 June 2025 | 1:52PM EDT Weekly Fund Flows US Buys Domestic Global fund flows, week ending June 18 | | | Global Fund Flows Summary | | | | --- | --- | --- | --- | --- | | | Millions USD | | % AUM | | | | 4wk sum | 18-Jun | 4wk avg | 18-Jun | | Equity | 31,288 | 45,419 | 0.03 | 0.19 | | Fixed Income | 70,798 | 19,165 | 0.20 | 0.22 | | of which: EM | 13,840 | 4,769 | 0.63 | 0.86 | | Money Markets | 55,084 | -11,734 | 0.14 | -0.12 | | FX Flows* | 58,223 | 18,166 | 0.11 | 0.14 | | | *Cross-border fund flows, e ...

一、适用基金及业务范围 ■ 二、其他提示 为了更好地满足广大投资者的理财需求，根据融通基金管理有限公司（以下简称"融通基金"）与国泰海 通证券股份有限公司（以下简称"国泰海通证券"）签署的销售协议，从2025年6月23日起，融通基金旗 下部分开放式基金新增国泰海通证券为销售机构，并开通定期定额投资业务。现将有关事项公告如下： 客户服务电话：4008888666 2.融通基金管理有限公司 网址：www.rtfund.com 客户服务电话：400-883-8088（免长途话费）；0755-26948088 投资者通过上述销售机构办理定期定额投资业务，相关的定期定额投资业务具体程序和业务规则详见上 述销售机构的相关规定。 1.投资者欲了解基金的详细情况，请仔细阅读各基金《基金合同》和《招募说明书》等法律文件。 三、咨询方式 1.国泰海通证券股份有限公司 网址：www.gtja.com 2025年6月23日 MACD金叉信号形成，这些股涨势不错！ 四、风险提示 本基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利，也不保 证最低收益。基金的过往业绩及其净值高低并不预示其未来业绩表现。投资 ...

Group 1 - Public funds have distributed over 110 billion yuan in dividends this year, with more than 2,100 funds collectively distributing 113.546 billion yuan as of June 21, marking a 38.46% increase compared to 820.05 billion yuan last year [1][2] - Stock funds have seen a significant increase in dividends, totaling 21.922 billion yuan, which is nearly four times the amount from the same period last year, while mixed funds' dividends reached 4.476 billion yuan, approximately 2.2 times last year's figures [2][3] - ETFs have dominated the dividend distribution, with the top three funds being the CSI 300 ETFs, which collectively distributed 134.12 billion yuan, and six out of nine funds with over 1 billion yuan in dividends being ETFs [1][2] Group 2 - The number of dividend distributions has also increased, with the top fund, Ganhu Zhiyuan Jiayue Rate Bond A, distributing dividends eight times this year, while six funds have exceeded 100 distributions [2][3] - The increase in ETF dividends is attributed to their growth in scale and the better market performance this year compared to last year, along with a high proportion of institutional funds that demand dividends [3][4] - Public REITs have been active in dividend distribution, with 55 out of 69 REITs distributing a total of 4.459 billion yuan this year, highlighting the appeal of alternative assets in the current market [4]

【环球网财经综合报道】尽管部分产品业绩亮眼，发起式基金仍因规模不足密集触发"自动终止"条款。同花顺数 据显示，今年以来全市场清盘的百余只基金中，多达44只为发起式基金，其中7只清算时规模甚至不足千万元。值 得注意的是，部分产品在清盘前净值涨幅超过10%，却仍未能摆脱"2亿元生死线"的约束，折射出此类基金"叫好 不叫座"的生存困境。 令人唏嘘的是，部分清盘基金业绩表现突出。以华安创新医药锐选量化股票发起式A为例，该基金今年初至清盘 前净值上涨近22%，跑赢业绩基准约17个百分点；国泰金福三个月定开混合、金鹰品质消费混合发起式A同期涨 幅均超10%。拉长时间看，富荣量化精选混合发起A、东方红鼎元三个月定开混合等近一年收益率也超过10%，却 因规模未达标被迫退出市场。 数据显示，清盘的发起式基金中，安信量化优选股票、瑞达策略优选混合发起、富荣量化精选混合发起等7只产品 清算时规模均低于1000万元，沦为"迷你基"中的极端案例。业内人士指出，此类基金多布局细分赛道（如港股 通、量化、消费等），虽阶段性业绩爆发，但渠道推广乏力或市场关注度不足，导致规模长期低迷。 "发起式基金成立门槛低，不少公司借此布局创新领域或'试水 ...