Core Viewpoint - The company emphasizes its commitment to investor interests and the importance of a robust investment framework as it transitions towards high-quality development in the public fund industry by 2025 [3][6]. Group 1: Industry Growth and Transformation - The public fund industry has experienced significant growth, driven by investor confidence and market resilience, with a focus on technological advancement and industrial upgrading [3]. - 2025 is identified as a pivotal year for the public fund industry, marking a shift towards prioritizing genuine investor returns and implementing long-term assessment mechanisms [3][6]. - The industry is moving towards a model that emphasizes active counter-cyclical investment strategies and the introduction of new floating fee structures [3]. Group 2: Research and Product Development - The company is committed to integrating research, product development, investment, sales, and service to create a value loop centered on client interests [4]. - In 2025, the research team is expected to conduct over 1,600 in-depth investigations to enhance understanding of industry changes and identify long-term growth trajectories driven by technological progress [4]. - The product strategy focuses on creating comprehensive solutions that align with industry opportunities and client needs, ensuring quality management throughout the product lifecycle [4][5]. Group 3: Investment Practices and Market Services - Investment practices are anchored in a "platform-based, integrated, multi-strategy" research system, which aims to provide sustainable returns across various asset classes [5]. - The company is enhancing its market services to build trust with investors, offering a comprehensive support system that encourages long-term investment perspectives [5][6]. - In 2025, the company reported returns of 116.4 billion yuan across its public fund products, with over 220 distributions throughout the year, showcasing its competitive position in the industry [6]. Group 4: Future Outlook and Commitment - The company is poised to play a crucial role in the capital market as a core resource allocation hub, contributing to the enhancement of investor satisfaction and support for the real economy [6][7]. - The commitment to serving national development goals and the modernization of the financial sector is emphasized, with a focus on supporting technological independence and economic upgrading [7]. - The company aims to uphold its foundational principle of being investor-centric while actively engaging in the broader national development agenda [7][8].

Core Viewpoint - The company emphasizes its commitment to creating value for clients and adapting to the evolving economic landscape, highlighting significant growth in assets and client base while preparing for future opportunities in the public fund industry [3]. Group 1: Company Performance - In 2025, the company surpassed a total scale of 700 billion yuan and served over 50 million clients, receiving the Golden Bull Fund Company Award for its performance [3]. - The company aims to continue its growth trajectory into 2026, driven by national strategies and capital market reforms [3]. Group 2: Industry Opportunities - The company identifies three key opportunities for the industry: 1. Economic transition towards high-quality development, fostering growth in sectors like technology, green transformation, and digital integration [4]. 2. Capital market reforms enhancing the investment environment through improved regulations and expanded access for long-term funds [4]. 3. A shift in wealth management among residents, moving from physical to financial assets and from short-term to long-term investments [4]. Group 3: Strategic Directions - The company plans to focus on three main areas in 2026: 1. Strengthening fiduciary duties by increasing the proportion of floating fee products and linking management fees to investment performance [5]. 2. Adopting a long-term perspective in assessments to enhance the focus on sustainable industry value [5]. 3. Enhancing service capabilities by providing comprehensive support throughout the investment process and utilizing financial technology for personalized solutions [5]. Group 4: Industry Ecosystem - The company advocates for a collaborative industry ecosystem centered on investor interests, promoting a shift from scale-driven to client-focused strategies [6]. - The integration of sales channels with fund management can enhance wealth management services, ultimately improving investor returns [6].

2026年马年春晚期间，红包成为贯穿除夕夜的关键词。微博推出"全民养马领红包"活动，超百位明 星除夕在线派发红包；东方卫视春晚现场，SNH48更是直接撒红包互动。从线上到线下，红包雨为新春 增添了浓浓的喜庆氛围。 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 红包送福气，分红添喜气。易方达基金旗下两只红利ETF也为投资者送上新春"开门红"——恒生红 利低波ETF易方达（159545）每10份基金份额分红0.15元，分红款已于春节前夕到账；港股通红利ETF 易方达（520810）则以2月25日为红利发放日，每10份基金份额分红0.02元。 易方达基金是业内唯一一家红利类ETF全部实行低费率的基金公司，旗下恒生红利低波ETF易方达 （159545）、港股通红利ETF易方达（520810）等多只产品的管理费率均低至0.15%/年，可助力投资者 在马年骏程中低成本开展红利投 ...

专题：资本市场大咖2026新春献词：骏马踏春来 驭势稳行启新程 编者按：辞旧迎新，金马贺岁。值此新春佳节，新浪财经特邀公私募领域数十位领军人物，通过镜头与 文字，为投资者送来马年新春祝福。信心如磐，笃行致远。愿这一声声真挚寄语，伴您策马扬鞭，共赴 投资长路。 景顺长城基金总经理康乐送来新春祝福。他表示，当前，公募基金行业正经历从规模导向向投资者回报 导向转型的关键变革期，机遇与责任并存，景顺长城将秉持行业的高质量发展要求，坚守专业，持续提 升投资与服务能力，为投资者带来更佳的业绩回报和投资体验。2026年，让我们携手并肩，拥抱新程， 共蕴春华。 祝福全文如下： 日月其迈，时盛岁新。农历马年来临，谨代表景顺长城基金，向广大投资者及所有支持和信任我们的朋 友，致以最诚挚的新春问候！ 回望2025，虽然新一轮的关税冲击以及国际环境变迁，给中国经济带来了巨大的不确定性，但在积极的 财政政策和宽松的货币政策下，工业和服务业的韧性和出口呈现超预期表现。资本市场也在政策强有力 的护航以及科技产业蓬勃发展的驱动之下，抵御住外部的风险扰动，呈现出向上的生命力。上证指数创 十年新高，触及4000点，全年成交额首次突破400万亿。 ...

Group 1 - The core viewpoint is that Danish pension funds are adjusting their asset allocation strategies due to concerns over the sustainability of U.S. fiscal policies, leading to significant changes in their investment portfolios [1] Group 2 - The Danish pension fund AkademikerPension announced in January 2026 that it has liquidated all its holdings in U.S. Treasury bonds, amounting to approximately $100 million [1] - The North Royal Oil Trust (NRT) experienced a significant stock price fluctuation, with a single-day increase of 5.08% on January 5, 2026 [2] - NRT's recent financial report indicated revenues of $8.73 million and a net profit of $7.94 million [2]

Core Viewpoint - The announcement from Guotou Ruijin regarding compensation for investors affected by the valuation adjustment of the Guotou Silver LOF fund has temporarily resolved the intense "rights protection storm" that had been ongoing for half a month [2][3][26]. Group 1: Investor Reactions - Following the announcement, the atmosphere in investor protection groups shifted from tension to relief, contrasting sharply with the previous outrage expressed on social media [3][4]. - The drastic change in investor sentiment reflects the emotional rollercoaster experienced by many, as they transitioned from a state of anger to one of unexpected resolution [4]. Group 2: Valuation Controversy - The controversy began with a significant drop in silver prices, leading to a misunderstanding among investors regarding the expected fund valuation based on domestic market rules [6][11]. - Investors expected the fund's net value to reflect a maximum loss of 17%, but the actual adjustment revealed a much larger loss of 31.5%, causing widespread panic and anger among those who felt misled [11][12]. Group 3: Fund Management Response - Guotou Ruijin's decision to adjust the fund's valuation based on international market conditions rather than domestic limits was intended to prevent unfair advantages for early redeeming investors [9][10][12]. - The fund's management argued that adhering to domestic prices would have resulted in a misleadingly high net value, which would unfairly burden remaining investors [12][13]. Group 4: Compensation Plan - The compensation plan announced by Guotou Ruijin includes full reimbursement for investors with losses under 1,000 yuan and proportional compensation for those with losses exceeding that amount [18][19]. - The majority of affected investors, over 90%, fall into the category of those with losses under 1,000 yuan, allowing for a straightforward compensation process [19][20]. Group 5: Industry Implications - The incident highlights a recurring theme in the financial industry where rules and investor perceptions can clash, leading to significant crises and the need for rapid responses from fund managers [21][25]. - The approach taken by Guotou Ruijin may set a precedent for how financial institutions handle similar situations in the future, raising questions about the integrity of market rules and investor trust [27][28].

Core Viewpoint - The A-share market is expected to maintain a slow bull trend in 2026, with potential for new highs after the digestion of crowded positions in the market [5][6]. Group 1: Market Outlook - The year 2025 marked the beginning of the "14th Five-Year Plan" and was crucial for the high-quality development of public funds, with a strong market performance driven by the technology innovation sector [6]. - The resilience and vitality of the market improved alongside the quality of development throughout 2025 [6]. Group 2: Company and Industry Insights - The total number of followers on the券商中国 WeChat platform has surpassed 6 million, indicating strong engagement and trust from readers [2].

(2) 股票基金 文 | 银行螺丝钉 （转载请注明出处） 如果整个假期里，港股美股最终波动不 大，那假期结束后A股受影响也会变小。 (同学的SHE) 风险提示 本文仅为信息分享，不构成任何投资建议。市场有风险，投资需谨慎 。 基金投资组合策略过往业绩并不预示其未来表现 为其他客户创造的收益并不构成业绩表现的保证 ▼点击阅读原 文，免费学习大额家庭资产配置课程 假期里A股不开盘,股票基金也不会更新 浄值。 不过,可以通过观察港股、美股等市场 指数的涨跌情况,来大致判断假期里 的A股涨跌幅。 海外市场有追踪 A50指数的指数基金、 股指期货、股指期权等。观察它们，就 可以大概判断出A股市场假期里的涨跌。 如果整个假期里，港股美股都是大涨, 那收益也不会丢失。假期结束后,A股会 大概率补涨，在节后第一个交易日体现 出来。 ...

（原标题：富国基金总经理陈戈：策马奔腾，共赴新程） 新春嘉平，万象更新。我谨代表富国基金，向长期以来信任与支持我们的每一位投资者与合作伙伴，致 以最诚挚的问候与新春祝福！ 乘势而上：把握时代脉络，迎接崭新机遇 待启新程春风起，千帆所向，俱是潮声。启航2026年，"十五五"规划的蓝图正徐徐展开，中国经济在底 盘稳、韧性强的稳健态势下，坚定向"新"而行、向"优"而进。富国基金认为，当前，中国资本市场深化 改革、稳健发展的态势更加巩固，正迎来一个充满希望的崭新阶段。A股市场有望在政策驱动、盈利修 复与市场信心回暖的多重合力下，步入长期向好的发展轨道。 新的一年，富国基金将始终秉持"为持有人创造价值"的初心，继续聚焦投研核心能力的锤炼与迭代，打 造能够适应不同市场环境的投资管理体系。同时，我们坚持发挥机构投资者的资本配置功能，支持科技 创新、产业升级等国家战略方向，在服务实体经济的同时，助力居民财富的保值增值。我们将始终围绕 投资者的核心关切，在长期投资理念的指引下，致力于通过持续稳定的投资回报、丰富多元的产品工具 与细致专业的客户服务，回馈每一位持有人的信任。 春风策马，骏程万里。市场的春天源于基本面的改善与信心的 ...

Group 1 - The core message highlights the resilience and vitality of the Chinese economy, with the A-share market experiencing a structural bull market driven by policy support and technological innovation [1] - In the past year, the company achieved record highs in public fund size, non-monetary fund size, and active equity fund size, with long-term performance ranking among the top in the industry [2] - The company has successfully implemented a "platform-based" investment research system, leading to a systematic operational model that enhances collaboration among teams and strategies [2] Group 2 - The company ranked first among the top 30 fund companies in terms of equity fund returns over the past seven years, with significant performance across various fund types [2] - The net subscription amount increased significantly, with institutional client holdings growing threefold and retail client scale increasing by over 70%, marking a historic high in active equity management scale [2] - The company also saw nearly a doubling in the scale of its "fixed income +" products, indicating a strong growth trajectory [2] Group 3 - The company upgraded its intelligent operations and investor services, developing platforms like the "Archimedes System" and "AI Qingfu" to enhance business capabilities [3] - Over the year, the company published over 500 investment companion topics and held nearly a thousand roadshow services, aiming to improve financial literacy among investors [3] - Looking ahead to 2026, the company plans to continue enhancing its professional investment research capabilities and product innovation while adhering to compliance standards [3]