登录新浪财经APP 搜索【信披】查看更多考评等级 公告送出日期：2025年10月24日 1公告基本信息 本基金对单个基金份额持有人不设置最高申购金额限制。投资人通过销售机构申购本基金，单笔最低申 购金额为1元。各销售机构对本基金最低申购金额及交易级差有其他规定的，以销售机构的规定为准。 通过基金管理人直销中心申购本基金，首次最低申购金额为100万元，追加申购单笔最低金额为1万元， 但根据法律法规或基金管理人的要求无法通过网上直销渠道申购的不受前述限制。本基金直销中心单笔 申购最低金额与申购级差限制可由基金管理人酌情调整。 3.2 申购费率 本基金的申购费率如下表所示： ■ 注：1、本基金的申购费用应在投资人申购基金份额时收取。投资人在一天之内如果有多笔申购，适用 费率按单笔分别计算。 2、申购费用由投资人承担，不列入基金财产，主要用于本基金的市场推广、销售、登记等各项费用。 ■ 2 申购、赎回和转换业务的办理时间 鹏华尊晟3个月定期开放债券型发起式证券投资基金（以下简称"本基金"）自2025年10月27日起（含当 日）进入开放期，其中开放申购时间为2025年10月27日至2025年11月21日，在此期间接受投 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 基金管理人：永赢基金管理有限公司 基金托管人：中信证券股份有限公司 二零二五年十月 重要提示 1、永赢中证家居家电交易型开放式指数证券投资基金（以下简称"本基金"）的募集已于2025年9月28日 获中国证监会证监许可〔2025〕2186号文注册。中国证监会对本基金募集申请的注册，并不表明其对本 基金的投资价值、市场前景和收益做出实质性判断或保证，也不表明投资于本基金没有风险。 2、本基金是交易型开放式、股票型证券投资基金。 3、本基金的基金管理人为永赢基金管理有限公司（以下简称"本公司"或"永赢基金"），基金托管人为 中信证券股份有限公司，本基金的登记结算机构为中国证券登记结算有限责任公司。 4、本基金募集对象为符合法律法规规定的可投资于证券投资基金的个人投资者、机构投资者、合格境 外投资者以及法律法规或中国证监会允许购买证券投资基金的其他投资人。个人投资者指依据有关法律 法规规定可投资于证券投资基金的自然人；机构投资者指依法可以投资证券投资基金的、在中华人民共 和国境内合法登记并存续或经有关政府部门批准设立并存续的企业法人、事业法人、社会团体或其他组 织；合 ...

Core Insights - The performance of personal pension funds has significantly improved, with an average return rate exceeding 15% year-to-date as of October 22, compared to just 3.08% at the end of the first half of the year [1][2] - The number of personal pension fund products has increased to 302, with 8 new products added in the third quarter [1][4] Performance Analysis - As of October 22, 299 out of 302 personal pension fund products reported positive returns, with four specific products achieving over 50% cumulative returns [1] - The average return for personal pension funds reached 15.14% by the end of the third quarter, marking a substantial recovery from earlier in the year [1] Market Dynamics - The recovery in personal pension fund performance is attributed to a significant valuation recovery in the A-share market, with improved market sentiment and rising major indices [2] - The ongoing improvement of personal pension system policies and macroeconomic measures aimed at stabilizing growth and promoting reforms have bolstered long-term market confidence [2] Product Development - The recent expansion of personal pension funds includes 5 index-enhanced funds, 2 fund-of-funds (FOFs), and 1 ETF linked fund, focusing on low volatility and high stability indices [4] - The newly added products primarily target the CSI 500 and CSI 300 indices, which are seen as suitable for long-term, stable growth in pension investments [4][5] Strategic Recommendations - To address challenges related to product homogeneity and investor behavior, fund companies are advised to optimize product design, enhance long-term performance transparency, and create a differentiated product matrix [3] - Emphasizing investor education on long-term holding and regular investment strategies is crucial for sustainable product development [3]

Core Viewpoint - The issuance of multi-asset strategy public fund of funds (FOF) products has been successful this year, with significant demand leading to early closures of fundraising periods [1][3]. Group 1: Fund Performance and Strategy - The Huatai-PineBridge Yingtai Stable 3-Month Holding Mixed (FOF) fund completed its fundraising in just one day, achieving a subscription scale exceeding 5 billion yuan [1][3]. - This fund is a mixed bond-type FOF, with a performance benchmark comprising 85% of the China Bond Total Index Yield, 8% of the CSI 800 Index Yield, 4% of the Hang Seng Index Yield (adjusted for valuation exchange rate), and 3% of the Shanghai Gold Exchange Au99.99 spot contract yield [3]. - The fund adopts a low-volatility allocation strategy, primarily focusing on bond assets while diversifying into various low-correlation assets to control portfolio volatility and enhance investment experience [3][9]. Group 2: Market Trends and Demand - There has been a notable trend this year towards bond-mixed FOF products, attracting substantial capital. For instance, the Fuguo Yinghe Zhenxuan 3-Month Holding and Dongfanghong Yingfeng Stable Configuration 6-Month Holding both raised over 6 billion yuan at their inception [3]. - Other FOF products, such as Nanfang Stable 3-Month Holding and Ping An Yingxiang Multi-Asset 6-Month Holding, also reported initial fundraising scales exceeding 2.7 billion yuan [3]. - The performance benchmarks of these large-scale bond-mixed FOFs typically include a variety of asset classes, such as domestic bonds, A-shares, gold, and deposits, indicating a shift towards multi-asset strategies [5][9].

Group 1 - The article provides a ranking of open-end funds based on their net asset value growth as of October 23, 2025, highlighting the top 10 and bottom 10 funds [2][4][6] - The top-performing funds include 泰信现代服务业混合, 泰信发展主题混合, and various 招商中证煤炭等权指数 funds, with 泰信现代服务业混合 showing a net value of 1.7280 [2][6] - The bottom-performing funds include 中航优选领航混合发起C and 中航优选领航混合发起A, with 中航优选领航混合发起C showing a net value of 1.7109 [4][6] Group 2 - The overall market performance indicates a slight increase in the Shanghai Composite Index, with a trading volume of 1.66 trillion and a stock gain-loss ratio of 2994:2302 [6] - Leading sectors include oil and chemical fibers, both showing gains of over 2%, while sectors like communication equipment and construction materials faced declines [6] - The article notes that 泰信现代服务业混合 has experienced rapid net value growth, indicating strong performance in the current market environment [6]

Core Viewpoint - The upcoming release of the public fund performance benchmark rules by the Asset Management Association of China aims to address long-standing discrepancies in the fund industry, aligning fund manager performance with investor expectations and enhancing transparency in performance evaluation [2][3][4]. Group 1: Fund Performance Benchmark Rules - The new benchmark rules are expected to become the core standard for evaluating whether fund managers outperform their peers and generate excess returns, which will also be linked to their compensation and industry awards [2]. - The current lack of transparency and scientific guidance in measuring fund performance has led to a disconnect between investor experiences and the claims made by fund companies [3][4]. - The performance benchmark has often served as a marketing tool rather than a true measure of risk and return characteristics, resulting in a misalignment of interests between fund companies, managers, and investors [3][4]. Group 2: Impact on Market Dynamics - Frequent redemptions by investors due to poor performance have increased liquidity management costs for funds and negatively impacted expected investment returns [3]. - The existing mechanism allows fund managers to report outperformance against benchmarks while investors may still incur losses, creating a misalignment of incentives [3][4]. - The anticipated changes in benchmark rules are expected to promote a wealth-sharing market, enhancing the effectiveness of the capital market in supporting consumer confidence and economic stability [4][5]. Group 3: Need for Reform and Professionalization - The reform of performance benchmarks requires a decisive approach to eliminate existing discrepancies and enhance the credibility of the rules [5]. - There is a call for the development of more specialized and precise total return indices to provide accurate measures for fund performance, ensuring transparency and professionalism in fund operations [5]. - The emphasis on recalibrating performance benchmarks is crucial for fostering a healthy fund industry and enabling the capital market to effectively contribute to consumer confidence and economic growth [5].

Core Viewpoint - The issuance of multi-asset strategy public fund of funds (FOF) products has been successful this year, with significant demand leading to early closures of fundraising periods [1][2][5]. Fund Performance and Strategy - The Huatai-PineBridge Yingtai Stable 3-Month Holding Mixed FOF completed its fundraising in just one day, achieving a subscription scale exceeding 5 billion yuan [1][5]. - This FOF product is a mixed bond type, with a performance benchmark comprising 85% of the China Bond Total Index Yield, 8% of the CSI 800 Index Yield, 4% of the Hang Seng Index Yield (adjusted for valuation exchange rate), and 3% of the Shanghai Gold Exchange Au99.99 spot contract yield [5]. - The fund adopts a low volatility allocation strategy, primarily focusing on bond assets while diversifying into various low-correlation assets to control portfolio volatility and enhance investment experience [5][10]. Market Trends - There has been a notable trend this year in the issuance of mixed bond-type FOF products, attracting substantial capital. For instance, the Fortune Yinghe Zhenxuan 3-Month Holding and the Dongfanghong Yingfeng Stable Configuration 6-Month Holding both raised over 6 billion yuan at their inception [6]. - Other FOF products, such as the Southern Stable 3-Month Holding and the Ping An Yingxiang Multi-Asset Configuration 6-Month Holding, also reported initial subscription scales exceeding 2.7 billion yuan [6][8]. Asset Allocation and Diversification - The performance benchmarks of these large-scale mixed bond-type FOFs typically include a variety of asset classes, such as domestic bonds, A-shares, overseas stocks, gold, and deposits [9]. - The Huatai-PineBridge Fund emphasizes the importance of constructing diversified "income support points" to reduce reliance on single markets, expanding investment opportunities across commodities, REITs, and global categories [10].

Core Viewpoint - The upcoming release of the public fund performance benchmark rules by the China Securities Investment Fund Association aims to address long-standing discrepancies in the fund industry, aligning fund manager evaluations and compensation with actual performance against a more transparent and scientifically grounded benchmark [2][5]. Group 1: Issues in the Fund Industry - There has been a persistent disconnect between the experiences of fund investors and the claims made by fund companies regarding performance, leading to a lack of transparency and scientific guidance in measuring fund performance [2][3]. - The current performance benchmarks often serve as marketing tools rather than accurate measures of risk and return, resulting in a misalignment of interests between fund managers and investors [4][6]. - Frequent redemptions by investors due to difficulty in assessing fund performance increase liquidity management costs for funds and negatively impact expected investment returns [3][4]. Group 2: Proposed Changes and Benefits - The new performance benchmark rules are expected to promote a wealth-sharing market by encouraging fund companies to select benchmarks based on product characteristics rather than solely relying on indices like the CSI 300 [5][6]. - Implementing these rules will help eliminate the current benchmark chaos, enhance the recognition and professionalism of fund managers, and ultimately contribute to a healthier capital market [5][6]. - A decisive reform approach is necessary to ensure the credibility of the new benchmark rules, avoiding gradual changes that could undermine their effectiveness [5][6].

Core Insights - The 2025 Bund Summit, themed "Embracing Change: New Order, New Technology," aims to discuss economic, financial, and governance issues amid global order restructuring and technological revolution [1][2] - The summit features 21 roundtable discussions and 11 closed-door meetings, emphasizing internationalization and professionalism [1] - Key topics include green transformation, international order changes, and artificial intelligence (AI) [1][2] Group 1 - The summit is attended by 121 financial leaders and scholars from 21 countries and regions, highlighting its global significance [1] - Jean-Claude Trichet emphasized the importance of cautious evaluation of AI's benefits and risks, warning against the "Solow Paradox" where technological investment does not immediately translate into productivity gains [2] - Yang Bin described AI as a "cognitive industrial revolution," reshaping human production and lifestyle, and highlighted the potential disparities between entities based on AI empowerment levels [2] Group 2 - The Bund Summit is rooted in Shanghai and aims to support national strategies and the development of Shanghai as an international financial center [3] - A special roundtable will focus on enhancing cross-border financial services in Shanghai, with contributions from government and financial institution experts [3] - The summit is organized by the China Financial Forty Forum and Tsinghua University, with support from various academic and financial institutions [4]

Core Viewpoint - The 90-day investment advisory portfolio primarily selects short-term bond funds, which are expected to yield higher returns than money market funds in the long run while maintaining lower risk compared to long-term bonds [1][10][11]. Group 1: Investment Strategy - The portfolio aims to outperform money market fund returns with a maximum drawdown targeted between 1% to 2% [3]. - It focuses on high-safety investments, primarily in short-term bond funds and low-risk pure bond funds, with a significant portion of assets in interest rate bonds (such as government bonds) [3][13][15]. - The strategy allows for flexible investment, with no timing required for entry, suitable for funds that can be held for three months or more [4][17]. Group 2: Performance and Risk Management - The 90-day portfolio has outperformed the China Securities Money Market Fund Index since its inception, with a relatively small maximum drawdown [20]. - The investment strategy is designed for short-term funds that will not be needed for at least three months, providing a transitional option for funds originally intended for money market investments or stock investments [21]. - By selecting short-term pure bond funds, the strategy aims to achieve higher returns with minimal risk [23].