伴随金价大涨，近日黄金主题ETF规模已一举突破2000亿元大关。 21世纪经济报道特约记者 庞华玮 黄金再次成为万众瞩目的焦点。4月15日，国际金价强势突破4200美元大关，再创历史新高，推动国内黄金主题ETF规模突破2000亿元大关。 在这场仅有20只产品的资本盛宴中，14只黄金ETF年内平均收益达55%，6只黄金股ETF年内平均收益更是高达96%。面对如此火爆的行情，投 资者该入场还是观望？该如何入场？配置多少比例合适？ 机构认为，黄金主题ETF的此轮行情，背后是黄金从"避险资产"向"信用替代品"的角色转变。在全球"去美元化"的趋势推动下，投资逻辑也已 发生根本性变化。 规模突破2000亿元大关 近期金价频创新高，10月15日盘中，伦敦现货黄金价格一度站上4218美元/盎司，COMEX黄金期货价格一度站上4235美元/盎司，双双刷新历 史纪录。 目前市场上共有20只黄金主题ETF，包括14只黄金ETF和6只黄金股ETF。 Wind数据显示，截至10月15日（下同），今年以来，黄金主题ETF产品资金净流入851.39亿元，最新规模突破2000亿元，达2180.19亿元（其 中，14只黄金ETF总规模为199 ...

民生加银智选成长股票A/C成立于2024年6月28日，截至2025年10月15日，其今年来收益率为24.68%、 24.32%，成立来收益率为48.80%、48.06%，累计净值为1.4880元、1.4806元。 | 基金名称 | 民生加银智选成长股票型证券投资基金 | | --- | --- | | 基金简称 | 民生加银智选成长股票 | | 基金主代码 | 021316 | | 基金管理人名称 | 民生加银基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》《基金管理公司投资管 | | | 理人员管理指导意见》等法律法规 | | 基金经理变更类型 | 兼有增聘和解聘基金经理 | | 新任基金经理姓名 | 何江 | | 离任基金经理姓名 | 杨林 | 中国经济网北京10月16日讯今日，民生加银基金公告，民生加银智选成长股票增聘何江，杨林离任。 何江自2003年7月至2004年5月在北京色诺芬信息服务有限公司担任合伙人、研究部负责人；自2004年5 月至2005年5月在北京方速信融有限公司担任高级分析师；自2005年6月至2005年11月在金诚国际信用评 估有限公司担任信用分析师； ...

信澳红利智选混合A/C成立于2024年3月20日，截至2025年10月15日，其今年来收益率为4.84%、 4.35%，成立来收益率为6.95%、5.93%，累计净值为1.0695元、1.0593元。 | 基金名称 | 信澳红利智选混合型证券投资基金 | | --- | --- | | 基金简称 | 信澳红利智选混合 | | 基金主代码 | 020657 | | 基金管理人名称 | 信达澳亚基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》、 《基金管理公司投资管理人员管理指导意见》 | | 基金经理变更类型 | 增聘基金经理 | | 新任基金经理姓名 | 胡巧云 | | 共同管理本基金的其他基金经理姓名 | 林景艺 | 中国经济网北京10月16日讯今日，信达澳亚基金公告，信澳红利智选混合增聘胡巧云。 胡巧云2018年7月至2025年5月于上海申银万国证券研究所有限公司财富管理研究部任分析师，2025年5 月加入信达澳亚基金管理有限公司，现任基金经理。 ...

| 离任高级管理人员职务 | 总经理 | | --- | --- | | 离任商级管理人员姓名 | 图 3 | | 离任题因 | 工作调整 | | 离任日期 | 2025年10月15日 | | 转任本公司其他工作岗位的说明 | 无 | | 离任高级管理人负服务 | NE CLE PAR | | --- | --- | | 离任高级管理人员姓名 | 观先度 | | 离任慶因 | 工作调整 | | 1. 公告基本信息 | | | --- | --- | | 基金管理人名称 | 太平基金管理有限公司 | | 公告使据 | 《公开募集证券投资基金信息技器管理办 | | | 法》、《证券基金经营机构重事、监事、高 | | | 绿管理人员及从业人员监督管理办法》等 | | | 相关法律法规 | | 高管变更类型 | 代任基金管理公司总经理,高任基金管理 | | | 公司总经理,高任基金管理公司副总经理 | | 代任高烟管理人员服务 | 总经典 | | --- | --- | | 代任高级管理人员姓名 | 刘冬 | | 是否经中国证监会按准取得高管任职资格 | | | 中国证监会被准高管任职资格的日期 | | | 任最日期 ...

Core Viewpoint - The appointment of Zhang Dong as the new chairman of Bosera Fund marks a significant leadership change, with a focus on enhancing asset pricing and allocation capabilities while maintaining a commitment to value-oriented and long-term investment strategies [1][2]. Leadership Transition - Jiang Xiangyang has resigned as chairman after over ten years, during which he significantly contributed to the development of Bosera Fund's value investment system and solidified its position among the top ten in asset management [1][4]. - Zhang Dong, with over 36 years in the financial industry and extensive experience in wealth management, has taken over as chairman and will also serve as the general manager [2][4]. Performance and Achievements - Under Jiang's leadership, Bosera Fund has improved its fixed-income advantages and significantly enhanced equity performance, achieving a 26.76% return on active stock investments from September 2023 to August 2025, placing it in the top 30 of the industry [3]. - The number of equity products that doubled in performance reached 17 in the past year [3]. Strategic Development Direction - Bosera Fund aims to adapt to the profound changes in the public fund industry, focusing on enhancing both asset management and comprehensive wealth management capabilities [5]. - Zhang Dong emphasizes four key dimensions for high-quality development: creating customer value, discovering investment value, leading high-quality development, and contributing to the construction of a "financial power" [6][7]. Future Initiatives - The company plans to enhance its service to the real economy, develop flagship products in technology and green finance, and expand its client base through innovative services in inclusive and pension finance [6]. - There is a strong focus on leveraging AI in investment research and service to improve efficiency and client experience [6].

| 基金管理公司名称 | 信达澳亚基金管理有限公司 | | --- | --- | | 公告依据 | 《公开募集证券投资基金信息披露管 | | | 理办法》、《证券基金经营机构董事、 | | | 监事、高级管理人员及从业人员监督管 | | | 理办法》 | | 高管变更类型 | 新任基金管理公司财务负责人 | | | 离任基金管理公司财务负责人 | 中国经济网北京10月16日讯 今日，信达澳亚基金公告，任命方敬为财务负责人，原财务负责人朱 永强退休。 方敬曾任中国人寿资产管理有限公司信息技术部数据分析师，中国民生银行股份有限公司私人银行 部高级分析师，中信证券股份有限公司高级产品经理，中新融创资本管理有限公司证券投资部部门负责 人，中国银河证券股份有限公司金融产品与同业部总监，前海开源基金管理有限公司专户业务部门负责 人。现任信达澳亚基金管理有限公司董事、代任总经理。 | 新任高级管理人员职务 | 财务负责人 | | --- | --- | | 新任高级管理人员姓名 | 方敬 | | 是否经中国证监会核准取得高管任职 | - | | 资格 | | | 中国证监会核准高管任职资格的日期 | - | | 任职日期 ...

Group 1 - Zhang Dong, the newly appointed chairman of Bosera Fund, highlighted that Q4 2025 may become a critical turning point for expectations in the capital market [1][3] - The Chinese economy has shown a remarkable GDP growth of 5.3% in the first half of 2025, distinguishing itself in the global economic landscape [2][3] - Major stock indices in China have seen significant increases in Q3 2025, with the CSI 300 up by 17.9%, the CSI 500 up by 29.46%, and the STAR 50 up by 51.2% [2][3] Group 2 - The capital market in China is expected to continue to highlight its value in global asset allocation, supported by proactive fiscal policies and moderately loose monetary policies [3][4] - The upcoming Fourth Plenary Session of the 20th Central Committee of the Communist Party of China will discuss the 15th Five-Year Plan, which is anticipated to further enhance economic policies [3][4] - The public fund industry is undergoing significant transformation, focusing on enhancing asset management and comprehensive wealth management capabilities [4][6] Group 3 - Bosera Fund aims to maintain a long-term perspective while navigating market volatility, ensuring that investor value creation remains a core focus [5][6] - The company plans to improve its integrated investment research capabilities and enhance pricing and allocation abilities across various asset classes [6] - As a state-owned enterprise under China Merchants Group, Bosera Fund is committed to participating in public fund reforms and innovations to promote high-quality industry development [6]

Core Viewpoint - The Huazhong Advantage Leading Mixed Fund, managed by experienced fund manager Luan Chao, aims to achieve long-term stable growth by dynamically adjusting industry allocations based on economic cycles and industry trends, focusing on sustainable returns for investors [1][2]. Investment Strategy - Luan Chao emphasizes a fundamental approach, avoiding speculation on market trends, and focuses on earning profits through understanding industry cycles and selecting individual stocks [2]. - The investment strategy involves determining asset allocation first, followed by selecting industries and specific sectors, while considering individual stock growth rates and risk-reward ratios [2][3]. Fund Performance - The Huazhong Advantage Leading Mixed Fund, under Luan Chao's management since July 1, 2024, has shown a 19.87% increase in net value over the past year, outperforming its benchmark of 17.83% [2]. - Historical performance of the Huazhong Advantage Leading Mixed Fund shows a net value growth rate of -26.50% from 2022 to 2024, with a subsequent recovery of 8.91% in the first half of 2025 [4]. Market Outlook - Luan Chao believes that the focus on short-term index fluctuations is diminishing, and there is a need to identify promising niche areas driven by new demands, with growth remaining the main theme [3]. - Key growth areas include AI-driven technological innovation, self-sufficiency in safety development, and demand reshaping due to consumption upgrades, alongside new dividends driven by declining interest rates [3].

Core Insights - Spot gold has surpassed $4240 per ounce, reaching a new historical high, with an increase of over $1610 or more than 61% year-to-date [1] - The A-share gold-themed ETFs have attracted over 85.1 billion yuan in investments this year, reflecting strong market interest [1] - Since gold prices broke the $4000 mark, the buying enthusiasm has remained high, with net inflows into gold-themed ETFs exceeding 15 billion yuan since October 9 [1] - As of October 15, the total scale of 20 gold-themed ETFs, including commodity and stock types, has reached 217.5 billion yuan [1] ETF Inflows - The top gold ETFs by monthly fund inflows include: - 518880 Gold ETF: 3.695 billion yuan - 518800 Gold Fund ETF: 2.363 billion yuan - 159937 Gold ETF Fund: 2.108 billion yuan - 159934 Gold ETF: 2.040 billion yuan - 517520 Gold Stock ETF: 1.409 billion yuan - 518850 Gold ETF Huaxia: 597 million yuan - 518680 ETF: 369 million yuan - 518660 Gold ETF Fund: 501 million yuan - 159562 Gold Stock ETF: 573 million yuan - 518600 Shanghai Gold ETF: 261 million yuan - 518860 Gold ETFAU: 217 million yuan - 518890 Bank of China Shanghai Gold ETF: 252 million yuan - 159831 Shanghai Gold ETF Jiashi: 189 million yuan - 159830 Shanghai Gold ETF: 22 million yuan - 159812 Gold Fund ETF: 109 million yuan - 517400 Gold Stock ETF: 146 million yuan - 159834 Buy EIL: 13 million yuan - 159321 Gold Stock ETF: 96 million yuan - 159315 Gold Stock ETF Fund: 61 million yuan - 159322 Gold Stock ETF Fund: 28 million yuan [3]

Core Viewpoint - The rapid breakthroughs in frontier technologies, particularly artificial intelligence, are driving high-quality economic development, with public funds actively engaging in long-term value investment to seize opportunities in technological innovation [1][2]. Group 1: Industry Trends - The A-share market is experiencing structural differentiation, with the technology sector, especially the AI industry chain, leading the gains and becoming a focal point for capital markets [2]. - The current technology market rally is underpinned by solid industrial foundations, with AI driving global industrial chain restructuring and creating a virtuous cycle of "technological breakthroughs - application landing - commercial feedback" [2][3]. - The characteristics of China's large-scale market enhance the potential for innovation returns, while the evolution of the "anti-involution" mechanism is expected to optimize the competitive ecosystem and improve overall capital market returns [3]. Group 2: Investment Strategies - The construction of active equity investment capabilities has been elevated to a strategic level within public funds, focusing on deepening research capabilities, diversifying investment strategies, and leveraging technology to build a sustainable investment ecosystem [4]. - The integration of industry insights with long-term value investment principles is essential for capturing true alpha in structural markets, as demonstrated by the experience of the investment research team at Hongde Fund [4]. - Fund managers are encouraged to avoid short-term thinking and instead engage in deep industry research to identify structural opportunities, while also adapting to market changes and expanding their investment knowledge [4]. Group 3: Future Outlook - With ongoing technological innovation and continuous improvement of capital market systems, public funds are expected to play a more significant role in serving the real economy and promoting high-quality development [5].