转眼间2025年步入最后的冲刺收官季。受累假期后海外因素扰动，A股再度震荡回调。波动中如何提升 投资体验感？债基收蛋人如何安稳收蛋？国泰海通证券日前发布的《基金公司权益及固定收益类资产业 绩排行榜》，为投资者全面审视今年前三季度以及近三年、五年等各个时间维度的基金公司业绩表现， 从而优化资产配置篮子提供了些许参考。 在行业深化改革提质增效的高质量发展背景下，中小基金公司积极发挥特色优势走出了差异化路径。从 国泰海通证券榜单细分项看，截至2025年9月30日，汇安基金在纯债类基金绝对收益排行榜上表现靠 前，近三年(2022.10.01-2025.09.30)收益排名跻身行业前20强，具体排名为17/131。若放远至最近五年和 最近七年，汇安基金纯债类基金绝对收益排名均位居行业TOP30，其中近五年(2020.10.01-2025.09.30)收 益排名为29/118，近七年(2018.10.01-2025.09.30)为21/86。 作为"15后"基金公司代表，汇安基金自2016年成立以来铭记客户为本的初心，核心团队以股东、合伙人 身份共同创业，以公司为长期事业平台。这种法人治理结构决定了对风险高度厌恶，使经营 ...

Group 1 - The article emphasizes the importance of investor education and protection against financial fraud in the public fund sector, particularly in the context of illegal securities and futures activities [1] - The article highlights the increasing prevalence of fraudulent schemes in the financial sector, which exploit online platforms to mislead investors and disrupt market order [1] - The article discusses specific cases of individuals falling victim to fraudulent margin trading platforms, illustrating the deceptive practices used by these entities [2][3] Group 2 - The article provides a warning about the risks associated with off-market financing, which is essentially a form of private lending that increases leverage and risk for investors [4][6] - It details how fraudulent platforms operate by creating virtual trading environments that do not connect to legitimate brokerage systems, leading to significant losses for investors [5] - The article outlines legal consequences for individuals and companies engaging in unauthorized securities activities, emphasizing the need for regulatory compliance in the financial industry [7]

10月13日，COMEX黄金价格继续上行突破创新高，已突破4090美元。黄金基金ETF（518800）上涨3.02%，黄金股票ETF（514700）上涨4.15%。 来源：Wind 市场避险情绪增强。此外，美国联邦政府停摆叠加数据空窗期带来宏观不确定性的大幅提升，美国两党政治僵局加剧、财政纪律弱化在逐步侵蚀美元 作为全球储备货币的基础。这一风险因素有望继续驱动金价上行。 无论是股票ETF/LOF基金，都是属于较高预期风险和预期收益的证券投资基金品种，其预期收益及预期风险水平高于混合型基金、债券型基金和货币 市场基金。 基金资产投资于科创板和创业板股票，会面临因投资标的、市场制度以及交易规则等差异带来的特有风险，提请投资者注意。 板块/基金短期涨跌幅列示仅作为文章分析观点之辅助材料，仅供参考，不构成对基金业绩的保证。 文中提及个股短期业绩仅供参考，不构成股票推荐，也不构成对基金业绩的预测和保证。 以上观点仅供参考，不构成投资建议或承诺。如需购买相关基金产品，请您关注投资者适当性管理相关规定、提前做好风险测评，并根据您自身的风 险承受能力购买与之相匹配的风险等级的基金产品。基金有风险，投资需谨慎。 每日经济新闻 ...

Core Insights - The article highlights a significant influx of southbound capital into the Hong Kong stock market, with a net purchase amounting to 198 billion HKD, marking the largest net buying since August 5 this year [2][4]. Group 1: Southbound Capital Inflows - Southbound capital's net buying reached 198 billion HKD, the highest since August 5, when it was 234 billion HKD, contributing to a strong rally in the Hang Seng Index [2][4]. - The main beneficiaries of this capital influx were the ETFs, specifically the Tracker Fund of Hong Kong (盈富基金) and the Hang Seng China Enterprises Index ETF (恒生中国企业), which collectively saw a net inflow of 94.18 billion HKD [4][5]. Group 2: Fund Performance and Holdings - The Tracker Fund of Hong Kong received a net inflow of 72.83 billion HKD, with 52.08 billion HKD from the Shanghai-Hong Kong Stock Connect and 20.75 billion HKD from the Shenzhen-Hong Kong Stock Connect [5]. - The fund has a net asset size of 150.8 billion HKD and has seen a cumulative growth of 32.70% this year, slightly outperforming the Hang Seng Index [5]. - The Hang Seng China Enterprises ETF attracted a net inflow of 21.35 billion HKD and has a net asset size of 29.178 billion HKD, with a year-to-date growth of 29.38% [9]. Group 3: Sector Allocation - The Tracker Fund focuses on financials (33.56%), consumer discretionary (24.28%), and information technology (18.91%) [5]. - The Hang Seng China Enterprises ETF has a different allocation, with consumer discretionary at 29.36%, financials at 22.43%, and information technology also at 22.43% [9]. Group 4: Market Sentiment and Strategy - The significant buying of ETFs indicates that mainland institutional investors are leveraging short-term market fluctuations for low-positioning, reflecting confidence in long-term valuation recovery in the Hong Kong market [12][13]. - The current valuation advantage of the Hong Kong market, particularly H-shares compared to A-shares, is highlighted, with examples such as SMIC's H-share price being about half of its A-share price [13].

MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 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 ...

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 MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 ...

Core Viewpoint - The significant inflow of southbound funds into Hong Kong stocks, particularly into the ETFs Yingfu Fund and Hang Seng China Enterprises, indicates a strategic move by mainland institutional investors to capitalize on short-term market fluctuations and reflects confidence in the long-term valuation recovery of Hong Kong stocks [1][2][13]. Group 1: Southbound Fund Inflows - Southbound funds recorded a net purchase of 198 billion HKD, marking the highest net inflow since August 5 this year [2][4]. - Yingfu Fund and Hang Seng China Enterprises were the primary beneficiaries, attracting a combined net inflow of 94.18 billion HKD [1][4]. - Yingfu Fund alone saw a net inflow of 72.83 billion HKD, with 52.08 billion HKD from the Shanghai-Hong Kong Stock Connect and 20.75 billion HKD from the Shenzhen-Hong Kong Stock Connect [4][8]. Group 2: Fund Performance and Holdings - Yingfu Fund, managed by Hang Seng Investment Management, tracks the Hang Seng Index and has a net asset size of 150.8 billion HKD, with a year-to-date net value growth of 32.70% [4][5]. - The fund's sector allocation includes 33.56% in financials, 24.28% in consumer discretionary, and 18.91% in information technology [4][6]. - The top five holdings in Yingfu Fund include Tencent (8.72%), HSBC (7.99%), Alibaba (7.5%), Xiaomi (5.93%), and China Construction Bank (5.03%) [5][7]. Group 3: Market Sentiment and Strategy - The influx of southbound funds into ETFs suggests a defensive allocation strategy amid market volatility, allowing investors to mitigate individual stock selection risks while benefiting from overall market valuation recovery [13]. - The current valuation advantage of Hong Kong stocks, particularly H-shares trading at significant discounts compared to A-shares, presents an attractive opportunity for investors [13]. - The diversification of asset allocation through Hong Kong stocks helps mainland investors manage risks associated with market fluctuations [13].

Core Insights - Shanghai Haiwang Hezong Private Equity Fund Partnership (Limited Partnership) has undergone a business change, with new shareholders including Zhongwei Company (688012) and its wholly-owned subsidiary Zhongwei Semiconductor (Shanghai) Co., Ltd. [1] - The fund was established in March 2025 with a capital contribution of 2.22 billion yuan, and is currently co-held by Shanghai Pudong Science and Technology Innovation Group Co., Ltd., Aojie Technology (688220), and the newly added shareholders [1] Company Summary - The fund's establishment date is March 2025, indicating a relatively recent formation in the private equity landscape [1] - The total capital contribution of the fund is 2.22 billion yuan, highlighting its significant financial backing [1] - The involvement of notable companies such as Zhongwei and Aojie Technology suggests a strategic alignment with key players in the semiconductor and technology sectors [1]

Core Insights - The article discusses the high-quality development activities of public funds in Beijing, emphasizing the themes of a new era, new funds, and new value [1] Group 1 - The MACD golden cross signal has formed, indicating a positive trend for certain stocks [1]

Market Overview - The Shanghai Composite Index fell by 0.19% to close at 3889.5 points, with a high of 3895.83 points during the day [1] - The Shenzhen Component Index decreased by 0.93% to 13231.47 points, reaching a peak of 13256.51 points [1] - The ChiNext Index dropped by 1.11% to 3078.76 points, with a maximum of 3096.4 points [1] ETF Market Performance - The median return of stock ETFs was -0.49% [2] - The highest performing scale index ETF was the Southern CSI 50 Enhanced Strategy ETF, with a return of 2.56% [2] - The highest performing industry index ETF was the China Tai CSI Nonferrous Metals Mining Theme ETF, with a return of 4.59% [2] - The highest performing thematic index ETF was the E Fund CSI Rare Earth Industry ETF, achieving a return of 7.78% [2] ETF Gain and Loss Rankings - The top three ETFs by gain were: - E Fund CSI Rare Earth Industry ETF (7.78%) [4] - Fuguo CSI Rare Earth Industry ETF (7.34%) [4] - Harvest CSI Rare Earth Industry ETF (6.96%) [4] - The top three ETFs by loss were: - Tibet Dongcai CSI Hong Kong-Shenzhen Innovative Drug Industry ETF (-3.24%) [4] - Fuguo CSI Smart Car Theme ETF (-3.15%) [4] - Huatai-PB CSI Smart Car Theme ETF (-3.14%) [4] ETF Fund Flow - The top three ETFs by fund inflow were: - Huabao CSI Bank ETF (inflow of 1.131 billion yuan) [6] - E Fund CSI 300 ETF Initiated (inflow of 1.079 billion yuan) [6] - Southern CSI Shenwan Nonferrous Metals ETF (inflow of 1.063 billion yuan) [6] - The top three ETFs by fund outflow were: - Southern CSI 500 ETF (outflow of 696 million yuan) [6] - Huatai-PB CSI 300 ETF (outflow of 495 million yuan) [6] - Huaan ChiNext 50 ETF (outflow of 472 million yuan) [6] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 Component ETF (974 million yuan) [8] - E Fund ChiNext ETF (814 million yuan) [8] - Guotai Junan CSI All-Share Securities Company ETF (640 million yuan) [8] - The top three ETFs by margin selling were: - Southern CSI 500 ETF (171 million yuan) [9] - Southern CSI 1000 ETF (107 million yuan) [9] - Huatai-PB CSI 300 ETF (39.51 million yuan) [9] Institutional Insights - Guojin Securities noted that the strategic attributes of the rare earth sector have increased due to enhanced control measures, with expectations of price impacts reflecting previous "short-term bearish, long-term bullish" logic [10] - CITIC Construction Investment projected that the demand for rare earth permanent magnet materials will be concentrated in the fourth quarter, supported by strong orders from downstream manufacturers [11]