曾以"消费投资标杆"之名在资本市场叱咤风云的景顺长城基金，如今正深陷信任泥沼。昔日明星基金经理刘彦春管理的产品亏损超17%，规模缩 水至清盘边缘；总经理康乐掌舵下的公司战略与监管要求背道而驰，旗下产品批量沦为"迷你基"。这场由明星陨落、管理失序引发的信任危机， 不仅让机构投资者集体出逃，更将无数散户推向"想卖卖不掉"的绝境，这家曾经的头部基金公司，正面临成立以来最严峻的生存考验。 刘彦春的"滑铁卢"与散户的噩梦 提起刘彦春，不少投资者仍记得他巅峰时期的风光——管理规模超1100亿元，凭借对消费龙头的精准布局，被誉为"长期价值投资领军者"。但如 今，这位明星经理的履历上，却刻下了难以抹去的"败笔"。 其管理的景顺长城鼎益混合（LOF）C，自2023年6月成立以来，便成了散户的"伤心地"。截至2025年10月，该基金单位净值跌至1.8660元，成立 以来亏损幅度突破17%，近一年跌幅更是达到7.37%。更令人揪心的是，这只基金的规模已缩水至1200万元，距离公募基金5000万元的清盘红线仅 一步之遥，流动性危机让持仓散户陷入"进退两难"的境地——想割肉离场，却因交易清淡难以成交；继续持有，又要直面业绩持续低迷的风 ...

Core Viewpoint - 瑞玛精密's stock increased by 5.36% to 25.74 CNY per share, with a total market capitalization of 3.119 billion CNY, indicating positive market sentiment towards the company [1] Company Overview - 瑞玛精密, established on March 22, 2012, and listed on March 6, 2020, is located in Suzhou, Jiangsu Province. The company specializes in manufacturing precision structural components and related precision mold manufacturing [1] - The main revenue sources are: precision metal structural components (58.04%), automotive electronics (31.75%), communication equipment (6.65%), others (2.18%), and molds (1.38%) [1] Shareholder Information - 招商量化精选股票发起式A (001917) is among the top ten circulating shareholders of 瑞玛精密, holding 722,700 shares, which is 1.11% of the circulating shares. The fund has gained approximately 946,700 CNY in floating profit today [2] - 招商中证2000指数增强A (019918) also holds 瑞玛精密 as its ninth largest position, with 210,100 shares, representing 0.58% of the fund's net value, yielding a floating profit of about 275,200 CNY today [4] Fund Performance - 招商量化精选股票发起式A (001917) has a total asset size of 2.765 billion CNY, with a year-to-date return of 42.71% and a one-year return of 54.74% [2] - 招商中证2000指数增强A (019918) has a total asset size of 321 million CNY, with a year-to-date return of 45.2% and a one-year return of 64.69% [4] Fund Management - The fund manager for 招商量化精选股票发起式A (001917) is 王平, who has a tenure of 15 years and has achieved a best fund return of 275.26% during his management [3] - The fund managers for 招商中证2000指数增强A (019918) are 王平 and 刘浒, with 王平 having a similar tenure and performance record as mentioned above, while 刘浒 has a much shorter tenure of 25 days [5]

多机构上调金价预期。瑞银预测，黄金价格在未来数月内升至4200美元/盎司；摩根士丹利预测金 价将在2026年下半年达到4500美元/盎司；高盛将2026年12月的金价预测从4300美元/盎司上调至4900美 元/盎司。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 中信期货分析指出，美联储降息预期、贸易摩擦升级与地缘风险交织，共同推升黄金避险与配置需 求。短线虽处超买区间，但波动率提升更多体现情绪扩张而非趋势反转，中期多头逻辑仍稳固。 黄金股票ETF（517400）跟踪中证沪深港黄金产业股票指数，涵盖了黄金的全产业链相关股票，包 括上游矿端的开采、中游加工以及下游的消费。另外，黄金股票ETF本身是权益资产，存在高波动特 性，需根据自身的投资需求进行资产的配置。 （风险提示：提及个股仅供参考，不作为股票推荐，不构成投资建议和承诺。指数/个股短期涨跌 仅供参考，不代表未 ...

Core Insights - As of October 15, the total margin balance for ETFs in the Shanghai and Shenzhen markets reached 120.231 billion yuan, an increase of 3.644 billion yuan from the previous trading day [1] - The financing balance for ETFs was 112.471 billion yuan, up by 3.686 billion yuan, while the securities lending balance decreased to 7.76 billion yuan, down by 0.042 billion yuan [1] ETF Financing Activity - On October 15, 231 ETFs experienced net financing inflows, with the top net inflow recorded by the Fortune China Government Bond ETF (7-10 years) at 1.555 billion yuan [1] - Other ETFs with significant net financing inflows included the Bosera China Government Bond ETF (0-3 years), Hai Fu Tong CSI Short Bond ETF, Huaan Gold ETF, Guotai CSI 5-Year Government Bond ETF, Huatai-PB Korea Semiconductor ETF, and Southern CSI 500 ETF [1]

Core Insights - Public funds have achieved significant returns by the end of Q3 2025, with active equity funds showing resilience through market cycles, accumulating substantial excess returns [1] - The "Double Ten Funds" (those established for over 10 years with an annualized return exceeding 10%) are rare, with seven products from China Europe Fund qualifying as such [1] Group 1: Performance Metrics - Active stock open-end funds and active mixed open-end funds have recorded returns of 160.79% and 114.6% respectively over the past decade, significantly outperforming stock ETFs at 82.07% [1] - The seven "Double Ten Funds" from China Europe Fund have annualized returns of 14.02%, 10.63%, 12.87%, 16.27%, 10.78%, 11.92%, and 10.53% respectively [1] Group 2: Investment Strategy - China Europe Fund has demonstrated strong long-term investment capabilities, ranking second in absolute returns over the past year and third over the past decade among 13 large equity fund companies [2] - The "Double Ten Funds" have maintained excellent performance despite market fluctuations, with specific funds ranking highly in their respective categories over various time frames [2] Group 3: Fund Management - Zhou Weiwen, a veteran manager at China Europe Fund, has managed the China Europe New Blue Chip Mixed A fund for over 14 years, achieving a cumulative return of over 535% and an annualized return of 13.74% [3] - Zhou's investment style emphasizes balanced allocation, combining growth and value, and focuses on long-term stable returns rather than short-term performance spikes [3] Group 4: Investment Philosophy - Balanced investment requires extensive industry research and foresight, with the ability to identify undervalued opportunities while considering industry cycles [4] - Zhou summarizes his investment approach as multi-perspective validation and seizing undervalued opportunities, which contributes to superior long-term performance [4] Group 5: Market Dynamics - The shift in China's economic drivers from infrastructure to new productivity necessitates a new investment paradigm, emphasizing quality over speed in GDP growth [5] - The complexity of the market environment has made the traditional model of individual star fund managers less effective, highlighting the need for a systematic investment research approach [6] Group 6: Research and Development - China Europe Fund's success in producing multiple long-term high-performing funds is attributed to its evolving investment research system, branded as "China Europe Manufacturing" [7] - The investment research strategy focuses on specialization, industrialization, and digitization to enhance the quality and sustainability of investment products [8] Group 7: Regulatory Environment - The establishment of the "China Europe Manufacturing" system aligns with regulatory expectations for sustainable returns, as outlined in the recent guidelines from the China Securities Regulatory Commission [9]

10月16日，招金黄金涨5.14%，截至发稿，报15.35元/股，成交3.27亿元，换手率2.35%，总市值142.60 亿元。 资料显示，招金国际黄金股份有限公司位于山东省济南市历下区解放东路25-6号山东财欣大厦9层，成 立日期1988年5月11日，上市日期1993年3月12日，公司主营业务涉及矿业开采与自有房产的出租。主营 业务收入构成为：黄金销售98.37%，其他业务1.63%。 从招金黄金十大流通股东角度 前海开源金银珠宝混合A（001302）基金经理为吴国清。 截至发稿，吴国清累计任职时间10年25天，现任基金资产总规模53.33亿元，任职期间最佳基金回报 435.44%， 任职期间最差基金回报-30.64%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，前海开源基金旗下1只基金位居招金黄金十大流通股东。前海开源金银珠宝混合A （001302）二季度新进十大流通股东，持有股数973.03万股，占流通股的比例为1.05%。根据测 ...

专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 为深入贯彻落实《推动公募基金高质量发展行动方案》，响应北京证监局指导下的"北京公募基金高质 量发展系列活动"号召，近日，东兴基金联合银华基金、东方基金、汇安基金、泓德基金、宏利基金及 天相投顾七家机构，共同走进北京联合大学，以"新时代・新基金・新价值——北京公募基金高质量发 展在行动"为核心主题，开展公募基金知识普及与金融素养培育活动。此次活动旨在为非财经院校学子 搭建"行业实践与知识普及"的桥梁，助力培育具备复合背景与理性思维的未来金融领域生力军。 《青春与职业：锚定人生赛道的智慧》：破"择业迷茫"困境，立长远发展方向 作为培养多领域应用型人才的重要院校，北京联合大学学子未来无论投身何种行业，都需具备基础的财 富管理能力与职业规划视野。此次活动聚焦应用型院校学子的实际需求，打破 "金融知识仅服务金融行 业" 的认知局限，以 "行业需求结合 + 实用知识落地" 的讲解形式，让资产配置与养老金知识更贴合跨 行业发展场景。现场讲师依托丰富的职场观察经验，既拆解不同行业求职的差异化需求，又结合大学生 求职规划逻辑，将专业金融理论转化为适配跨行业求职与生活 ...

专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 公募基金行业文化建设，是实现高质量发展、行稳致远的基石。不仅关乎机构自身竞争力，更关系到整 个行业的健康和国家战略的落实。于规模有限、品牌影响力尚弱的中小基金公司，文化建设更非锦上添 花，而是生存发展的根基，须依靠专业声誉、投资者信任和合规口碑构建核心竞争力。《推动公募基金 高质量发展行动方案》所强调的文化建设，正为中小公司提供了一条通过"内修"实现"外胜"的路径。 文化不是口号，而是看得见、查得到、能复盘的治理能力。围绕这一认识，公司将明确以"文化筑基、 合规护航、长期致胜"为长期主线，进一步加强党建引领，坚持党的全面领导，将党建工作与企业文 化、业务发展深度融合。积极探索党组牵头学习研讨国家宏观经济政策和产业导向；同时加强人才队伍 建设，在关键岗位、业务骨干中发展党员，培养既懂政治又懂业务的复合型人才。 公司认为高质量发展离不开高质量的文化与治理。文化的价值在于让原则成为流程，让流程成为证据， 让证据进一步塑造行为与习惯。下一阶段，公司将继续对标高质量发展要求，把"风险可见、责任可 见、价值可见"贯穿研究、交易、产品与服务全链条。我们坚持长期主 ...

Core Viewpoint - Action Education's stock price has increased by 5.32% on October 16, reaching 40.98 CNY per share, with a total market capitalization of 4.887 billion CNY, indicating a cumulative increase of 5.45% over the past four days [1] Group 1: Company Overview - Shanghai Action Education Technology Co., Ltd. is located in the Hongqiao Business District of Shanghai and was established on March 27, 2006, with its listing date on April 21, 2021 [1] - The company's main business includes corporate management training, management consulting services, and the sale of related books and audio-visual products [1] - The revenue composition of the company is as follows: management training accounts for 82.99%, management consulting for 15.83%, and other income for 1.18% [1] Group 2: Fund Holdings - According to data, one fund under Jin Ying Fund has a significant holding in Action Education, specifically Jin Ying Xin Yi Mixed A (003484), which held 22,800 shares in the second quarter, representing 0.34% of the fund's net value [2] - The fund has realized a floating profit of approximately 47,200 CNY today, with a total floating profit of 45,800 CNY during the four-day increase [2] - Jin Ying Xin Yi Mixed A (003484) was established on November 16, 2016, with a current scale of 145 million CNY and a year-to-date return of 3.7%, ranking 7145 out of 8161 in its category [2]

Core Insights - Gold prices have reached a historic high, with COMEX gold futures rising by 1.48% to $4224.90 per ounce, and spot gold surpassing $4200 for the first time [4] - JPMorgan CEO Jamie Dimon has publicly stated that holding gold is "reasonable," predicting prices could easily rise to $5000-$10000, indicating a shift in institutional sentiment towards gold [4][5] - Hedge fund manager Ken Griffin noted that investors are increasingly viewing gold as a safer asset than the dollar, reflecting a growing concern about the stability of the dollar [4][5] Market Dynamics - The ongoing U.S. government shutdown and record-high global public debt are driving strong demand for safe-haven assets like gold [4][5] - There is a sustained optimism in the market regarding potential interest rate cuts by the Federal Reserve, with nearly 100% expectation for a 25 basis point cut in October [4][5] - Political and economic instability, including a prolonged deadlock between U.S. political parties, is further supporting the upward trend in gold prices [4][5] Technical and Fundamental Analysis - The technical breakout above the $4200 psychological level indicates strong upward momentum for gold prices [5] - Dimon's endorsement of gold marks a significant shift in the traditional financial sector's view, suggesting a broader acceptance of gold as a viable investment [5] - The re-evaluation of gold's monetary attributes, as highlighted by Griffin's comments, suggests a potential decline in confidence in the dollar [5] Investment Opportunities - The recent performance of the Gold ETF (159937) shows a 9.81% increase over the past week, with a trading volume of 1.40 billion yuan and a turnover rate of 0.38% [3][8] - The Gold ETF has seen continuous net inflows over the past eight days, totaling 2.773 billion yuan, indicating strong investor interest [8] - The latest share count for the Gold ETF reached 3.924 billion, marking a three-month high, which reflects growing investor confidence in gold as an asset class [7][8]