东财基金管理有限公司关于西藏东财成长优选 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，但不保证本基金一定盈利，也不 保证最低收益。请充分了解本基金的风险收益特征，审慎做出投资决定。 特此公告。 东财基金管理有限公司 2026年1月20日 MACD金叉信号形成，这些股涨势不错！ 混合型发起式证券投资基金招募说明书更新及 基金产品资料概要更新提示性公告 西藏东财成长优选混合型发起式证券投资基金招募说明书更新及基金产品资料概要更新全文于2026年1 月20日在本公司网站（www.dongcaijijin.com）和中国证监会基金电子披露网站 （http://eid.csrc.gov.cn/fund）披露，供投资者查阅。如有疑问可拨打本公司客服电话（400-9210-107） 咨询。 ...

Group 1 - The core viewpoint of the article emphasizes that the active equity funds in the A-share market have shown superior long-term performance compared to broad-based indices, with a recovery in market sentiment leading to a gradual opening of excess return opportunities for active equity funds since 2024 [1][2][3] - The growth style has received favorable conditions, making active equity funds the preferred choice for allocation, as the macro environment is shifting towards a more favorable phase for growth styles [4][5] - It is challenging to consistently outperform the median of active equity funds, and only a few funds have managed to achieve this stability over the years, which is worth investors' attention [9][12][34] Group 2 - The Zhongyin Quantitative Stock Selection Fund has demonstrated robust excess returns relative to the Wind Mixed Equity Fund Index, achieving an excess return of 3.18% in 2025, with a maximum drawdown of only 4.13% and an annualized tracking error of 5.44% [17][19][35] - The fund's tracking error is low, and its performance ranking is stable, with an average rolling three-month annualized tracking error of 5.26% and a daily return correlation coefficient of 0.96 with the benchmark [21][22][35] - The fund exhibits strong drawdown control capabilities, ranking in the top 0.5% for relative maximum drawdown among all active equity funds, and its return-to-drawdown ratio is in the top 30% [22][35] Group 3 - The Zhongyin Quantitative Stock Selection Fund has a diversified portfolio with a low concentration of holdings, aligning with the preferences of active equity funds, particularly in sectors like electronics, machinery, and new energy [26][29][36] - The fund's style leans towards growth, momentum, and mid-cap stocks, reflecting a strategic focus on high-growth potential sectors [29][37]

Core Viewpoint - The article emphasizes the optimistic outlook for China's economy and capital markets in 2026, with international investment banks recommending increased allocations to A-shares and Hong Kong stocks, reflecting confidence in China's economic transformation and growth prospects [1][2]. Group 1: Market Outlook - Goldman Sachs suggests overweighting A-shares and Hong Kong stocks in 2026, while JPMorgan has upgraded the rating for mainland China and Hong Kong stock markets to "overweight" [1]. - UBS believes that policy support, improved corporate earnings, and capital inflows could drive A-share valuations higher [1]. - The 2025 performance of the Hong Kong stock market is described as a significant upward trend, with expectations for continued direction-finding amidst internal and external variables in 2026 [1][3]. Group 2: Investment Strategy - The focus for 2026 should be on two macro variables: the direction of the Federal Reserve's policies and the structural characteristics of the US and Chinese economies [2][3]. - Investment opportunities are seen in sectors such as outbound investments, innovative pharmaceuticals, and AI combined with high-end manufacturing [2][7]. - The consumption market is experiencing a K-shaped recovery, with a preference for investing in leading companies in the discretionary consumption segment [2][7]. Group 3: Competitive Landscape - The article highlights the importance of company competitiveness and the ability to create shareholder value as fundamental to long-term investment success [2][3]. - The performance of high-quality Chinese companies is identified as a solid foundation for the bull market, supported by macroeconomic fundamentals [3]. - The Hong Kong stock market is viewed as a bridge for overseas capital to invest in China, with a growing number of top Chinese companies choosing to list there [5][6]. Group 4: Valuation and Allocation - The overall Hong Kong stock market is considered to be "good value for money," with Chinese assets still in an "under-allocation" phase compared to their global counterparts [6][1]. - The MSCI China Index, which has a significant representation of Hong Kong stocks, is noted to have a lower valuation compared to the MSCI Global Emerging Markets Index, despite a higher return on equity [6][1]. - The article suggests that the low representation of Chinese assets in global indices indicates significant potential for future revaluation [6][1]. Group 5: IPO Market and Stock Selection - The article discusses the active IPO market in Hong Kong, with a notable increase in the number of listings, reflecting the market's role as a global financial center [5][4]. - The focus on identifying high-quality stocks, particularly in the small and mid-cap segments, is emphasized, with a need for deep research to uncover potential investment opportunities [8][9]. - The investment strategy includes avoiding high-valuation companies with low probability of achieving growth and those facing significant innovation challenges [9].

Core Insights - The article provides an overview of the latest net asset values of various funds, highlighting the top-performing and bottom-performing funds in terms of net value growth [2][4]. Fund Performance Summary Top 10 Funds by Net Value Growth - The top-performing funds include: 1. 华夏中证电网设备主题ETF发起式联接A with a net value of 1.2474, up by 5.46% 2. 华夏中证电网设备主题ETF发起式联接C at 1.2468, also up by 5.46% 3. 德邦新兴产业混合发起式C at 1.1846, increasing by 5.44% 4. 德邦新兴产业混合发起式A at 1.1870, up by 5.44% 5. 东方阿尔法科技甄选混合发起A at 1.3168, up by 5.15% 6. 东方阿尔法科技甄选混合发起C at 1.3161, also up by 5.15% 7. 平安鑫安混合E at 2.3961, increasing by 4.99% 8. 平安鑫安混合C at 2.3514, up by 4.99% 9. 平安鑫安混合A at 2.4485, also up by 4.99% 10. 汇添富新睿精选混合A at 1.5440, increasing by 4.96% [2][4]. Bottom 10 Funds by Net Value Growth - The bottom-performing funds include: 1. 平安港股通医疗创新精选混合C at 1.0309, down by 3.52% 2. 平安港股通医疗创新精选混合A at 1.0340, down by 3.51% 3. 汇丰晋信医疗先锋混合C at 0.8032, down by 3.36% 4. 汇丰晋信医疗先锋混合A at 0.8205, down by 3.36% 5. 平安核心优势混合C at 2.2529, down by 3.32% 6. 平安核心优势混合A at 2.3920, down by 3.31% 7. 嘉合睿金混合C at 1.5470, down by 3.27% 8. 嘉合睿金混合A at 1.6392, down by 3.26% 9. 永赢港股通科技智选混合发起C at 1.0127, down by 3.21% 10. 平安医药精选股票C at 1.7253, down by 3.21% [3][4]. Market Overview - The Shanghai Composite Index opened lower but closed higher, while the ChiNext Index experienced a similar pattern. The total trading volume reached 2.73 trillion yuan, with a gain-loss ratio of 3527:1828 and a limit-up-limit-down ratio of 103:30 [6]. - Leading sectors included aviation and hotel catering, both rising over 4%, while the telecommunications equipment and software services sectors lagged [6].

Core Viewpoint - The geopolitical tensions and uncertainty surrounding U.S. policies are prompting a shift in global investment strategies, with a notable trend towards non-U.S. assets as investors seek diversification and better returns outside the U.S. market [1][6][7]. Group 1: U.S.-Europe Trade Relations - Goldman Sachs warns that the EU may call for the activation of the Anti-Coercion Instrument (ACI) in response to U.S. trade threats, particularly regarding President Trump's proposed tariffs on European nations opposing the Greenland acquisition [1][4]. - Deutsche Bank highlights the risk of Europe selling off its $8 trillion in U.S. assets, emphasizing the strategic leverage Europe holds as the largest creditor to the U.S. [1][3]. - The potential activation of ACI could lead to a range of non-tariff retaliatory measures from the EU, indicating a shift from traditional trade disputes to capital and regulatory confrontations [5][4]. Group 2: Investment Trends - There is a growing emphasis on non-U.S. investments due to high valuations in the U.S. market and a saturated allocation of U.S. stocks in many portfolios, leading investors to seek opportunities in other regions [6][7]. - Emerging markets, particularly in Asia (Malaysia and India), Latin America (Mexico and Brazil), and Africa (South Africa and Egypt), are gaining attention as they present high-yield opportunities despite facing risks from U.S. trade policies [8]. - The trend of reallocating investments away from the U.S. is expected to accelerate, as investors recognize the potential for better returns in non-U.S. markets, creating a self-reinforcing cycle of capital flow [7][6].

Core Viewpoint - The A-share market has shown significant momentum at the beginning of 2026, with the Shanghai Composite Index rising for 17 consecutive days and surpassing the 4100-point mark, leading to increased trading volumes. However, after January 13, the market entered a phase of high volatility, prompting investors to seek opportunities while being cautious of risks. In this context, FOF products have become increasingly valuable as they offer a balanced approach to capturing opportunities while managing risks [1][6]. Group 1: Market Performance - The Shanghai Composite Index rose from the end of 2025 to January 12, 2026, achieving 17 consecutive days of gains and breaking through the 4100-point threshold [1][6]. - Trading volumes in the two markets exceeded 30 trillion yuan for three consecutive days [1][6]. - The CSI 300 Index experienced a slight decline of 0.46% in 2025, indicating a backdrop of accelerated sector rotation [1][6]. Group 2: FOF Product Features - The FOF product, specifically the "Fuguo Zhihui Stable 3-Month Holding Period Mixed FOF," is set to launch on January 19, 2026, as part of the Bank of China's "Hui Investment Plan" [1][4]. - This FOF product aims to meet market demand for both opportunity capture and risk management through diversified asset allocation [1][4]. - The FOF product emphasizes a "bottom warehouse + strategy + risk control" framework, leveraging high-quality bond funds as a stable base to provide a safety net for the investment portfolio [2][7]. Group 3: Investment Strategy - The investment strategy of the FOF product includes a flexible allocation of quality funds in sectors influenced by anti-involution policies, PPI recovery in the manufacturing midstream, and technological changes driven by overseas AI developments [2][7]. - The product also incorporates gold and REITs to hedge against market volatility, aiming to capture structural opportunities while avoiding risks associated with single market trends [2][7]. Group 4: Fund Manager Expertise - The appointed fund manager, Wang Dengyuan, has 14 years of experience in the securities industry and 6 years in FOF management, employing a "three-dimensional integrated" framework for fund selection [3][8]. - Wang's previous products have demonstrated significant excess returns, with the "Fuguo Xinhui Pension Target Date 2025" and "Fuguo Xinhui Pension Target Date 2035" achieving returns of 10.89% and 15.93%, respectively, against benchmarks of 6.60% and 9.00% [3][8]. Group 5: Hui Investment Plan - The "Hui Investment Plan" is a collaborative initiative by the Bank of China and public fund management institutions, designed to provide a clear risk-return profile and targeted wealth management options [4][9]. - The plan encompasses a variety of asset classes, including stocks, bonds, and commodities, and employs different strategies to identify investment opportunities across various configurations [4][9]. - The "Hui Investment Plan" has officially launched, with the Fuguo Zhihui Stable FOF being the first product available for sale [4][9].

Group 1 - The core point of the news is that Shenyu Co., Ltd. experienced a decline of 5.02% in its stock price, reaching 40.29 yuan per share, with a trading volume of 468 million yuan and a turnover rate of 9.13%, resulting in a total market capitalization of 7.229 billion yuan [1] - Shenyu Co., Ltd. is located in Jiangyin City, Jiangsu Province, and was established on August 6, 2003, with its listing date on November 14, 2016. The company's main business involves the research, development, production, and sales of RF coaxial cables [1] - The revenue composition of Shenyu Co., Ltd. is as follows: coaxial cables account for 81.83%, other supplementary products for 9.78%, and gold wire products for 8.39% [1] Group 2 - From the perspective of the top ten circulating shareholders of Shenyu Co., Ltd., a fund under Huaxia Fund ranks among the top shareholders. The Huaxia CSI Hong Kong and Shanghai Gold Industry Stock ETF (159562) entered the top ten shareholders in the third quarter, holding 243,800 shares, which represents 0.2% of the circulating shares [2] - The Huaxia CSI Hong Kong and Shanghai Gold Industry Stock ETF (159562) was established on January 11, 2024, with a latest scale of 2.409 billion yuan. Year-to-date returns are 12.92%, ranking 530 out of 5579 in its category; the one-year return is 103.46%, ranking 82 out of 4225; and since inception, the return is 152.78% [2] - The fund manager of the Huaxia CSI Hong Kong and Shanghai Gold Industry Stock ETF (159562) is Hualong, who has been in the position for 3 years and 152 days, with a total asset scale of 35.957 billion yuan. The best fund return during the tenure is 152.78%, while the worst return is -15.08% [2]

人民财讯1月19日电，企查查APP显示，近日，中普新融(淄博)企业管理合伙企业(有限合伙)成立，出资 额约58亿元，经营范围包含：企业总部管理；企业管理；企业管理咨询。企查查股权穿透显示，该合伙 企业由天弘基金管理有限公司、山东省金融资产管理股份有限公司等共同持股。 ...

| 2. 基金率集情况 | | | | --- | --- | --- | | 基金募集申请获中国证监会核准的文号 | | 中国证监会证监许可【2025】2711 号 | | 其金募集期间 | | 自2026年1月7日至2026年1月13日止 | | 验资机构名称 | | 安永华明会计师事务所(特殊普通合伙) | | 募集资金划入基金托管专户的日期 | | 2026年1月16日 | | 募集有效认购总户数(单位:户) | | 25,429 | | 募集期间净认购金额(单位:元) | | 1.666,954,000.00 | | 认购资金在募集期间产生的利息(单位:元) | | 96,702.20 | | 募集份額(单位:份) | 有效认购份额 | 1,666,954,000.00 | | 利息结转的份额 | | 81,344.00 | | 合计 | | 1.667.035,344.00 | (责任编辑：康博) 中国经济网北京1月19日讯 近日，景顺长城基金发布关于景顺长城中证全指电力公用事业交易型开 放式指数证券投资基金基金合同生效公告。 募集期间净认购金额1,666,954,000.00元，认购资金在募集期 ...

| 基金名称 | 易方达平衡精选混合型证券投资基金 | | --- | --- | | 基金简称 | 易方达平衡精选混合 | | 基金主代码 | 025920 | | 基金运作方式 | 契约型开放式 | | 基金合同生效日 | 2026年1月16日 | | 基金管理人名称 | 易方达基金管理有限公司 | | 基金托管人名称 | 招商银行股份有限公司 | | 公告依据 | 《中华人民共和国证券投资基金法》及其配套法规、《易方达 平衡精选混合型证券投资基金基金合同》《易方达平衡精选混 | | | 合型证券投资基金招募说明书》 | | 基金募集申请获中国证监会核准的文号 | 中国证券监督管理委员会证监许 可〔2025〕 2334 号 | | --- | --- | | 基金募集期间 | 自 2025年12月26日至2026 年1月14日 | | 验资机构名称 | 安永华明会计师事务所(特殊普 通合伙) | | 募集资金划入基金托管专户的日期 | 2026年1月16日 | | 募集有效认购总户数(单位:户) | 19. 552 | | 募集期间净认购金额(单位:人民币元) | 3.407.352.051.56 | | ...