【深圳商报讯】（首席记者 谢惠茜）据沪深交易所数据统计，2024年被动权益类指数基金规模达3.96万 亿元，首次超越主动权益基金（3.44万亿元），其中股票型ETF总规模突破2.9万亿元。业内普遍认为， 指数时代已加速到来。此外，记者注意到，多家机构正纷纷加快布局指增基金，头部代销平台业务也将 重点转向指数增强基金。 "指数基金快速发展，愈加受到投资者欢迎。主动基金获取超额收益难度增加，指数基金管理费率远低 于主动基金，长期复利效应下成本优势显著；其二，指数基金是机构投资者权益投资的重要品种；其 三，中证A500、科创综指等新指数迅速崛起，为投资者提供了越来越丰富的指数基金产品。"苏商银行 特约研究员武泽伟在接受记者采访时表示。 兴证全球基金报告显示，截至2024年三季度末，国内指数增强基金规模突破2300亿元。今年以来，指数 增强基金的发行数量迎来爆发式增长。据上海证券统计，今年以来，超78%指数增强基金跑赢了指数、 获取超额收益，中证A500相关指数增强基金更是成为市场热门选择。 "A股市场有获取超额收益的空间，指数增强基金结合了指数基金和主动基金的优势，能满足投资者对 被动投资和超额收益的双重需求，场外 ...

如何改善指数投资者选不对、择不准、看不懂等现状，也正成为行业发力点。据悉，为更好帮助投资者 分散配置，提升长期收益体感，蚂蚁基金于近日上线了一站式指数投资服务平台"指数+"。据了解，该 平台是由多家机构提供更稳的宽基指数增强产品，双方联合共建更丰富的工具与服务，以满足不同投资 者的长期配置需求。 如何解决投资者"痛点"，专家们也纷纷给出了建议。其中，苏商银行特约研究员武泽伟在接受记者采访 时指出，"购买时机不同，确实对收益有较大影响，可以通过估值分位数等方式来选择购买时点。不 过，在复杂多变的市场中，成功择时对普通投资者来说难度非常大，所以更加建议采用定投指数基金方 式长期持有，从而摊平投资成本，平滑短期市场波动。" 记者上支付宝搜"指数"也发现，在选宽基时，进入"追求年年增"专区，平台筛选了一批核心宽基指数增 强基金，历史上每年都跑赢了追踪指数。这些基金还注重控制行业偏离度，降低增强收益的波动风险。 而在选择行业指数基金时，有20多家基金公司的行业判断模型，呈现出板块潜力信号。 【深圳商报讯】（首席记者 谢惠茜）在指数时代加速到来之时，指数基金规模的快速增长和投资者认 知水平、收益预期仍存在落差。近日，蚂蚁 ...

Core Viewpoint - The rapid growth of passive equity index funds in China indicates a shift towards an index-driven investment era, with passive funds surpassing active funds in scale for the first time. Group 1: Market Trends - By 2024, the scale of passive equity index funds reached 3.96 trillion yuan, exceeding active equity funds at 3.44 trillion yuan, with stock ETFs surpassing 2.9 trillion yuan [1] - The increasing effectiveness of the market has made it more challenging for active funds to achieve excess returns, leading to a growing preference for index funds due to their lower management fees and significant cost advantages over the long term [2] - Institutional investors are increasingly favoring index funds, with a reported 57% of index equity fund holdings attributed to institutional investors, which is shifting market pricing power towards passive instruments [2] Group 2: Investor Behavior - Ant Financial's stock index fund has surpassed 320 billion yuan in scale, with over 11 million investors participating in index fund regular investment plans, averaging a holding period of 1,239 days [3] - The average return for investors in Ant Financial's index funds was 4.14% in 2024, reflecting the growing popularity and acceptance of index investing among retail investors [3] Group 3: Future Opportunities - The demand for index-enhanced funds is expected to grow, as they combine the benefits of index funds and active management, catering to investors seeking both passive investment and excess returns [4] - As of Q3 2024, the scale of domestic index-enhanced funds exceeded 230 billion yuan, with over 78% of these funds outperforming their benchmarks this year [4] - The potential for excess returns in the A-share market remains significant, with the focus shifting towards the sustainability and stability of these returns over the long term [4][5]

市场概况 4月28日两市ETF两融余额为1025.86亿元，较前一交易日增加13.25亿元。其中融资余额为978.26亿元，较前一交易日增加13.33亿元；融券余额为47.59亿 元，较前一交易日减少833.28万元。 分市场来看，沪市ETF两融余额为674.37亿元，较前一交易日增加12.83亿元。其中融资余额为633.67亿元，较前一交易日增加12.69亿元；融券余额为40.7亿 元，较前一交易日增加1368.82万元。深市ETF两融余额为351.48亿元，较前一交易日增加4193.37万元。其中融资余额为344.6亿元，较前一交易日增加 6395.47万元；融券余额为6.89亿元，较前一交易日减少2202.1万元。 ETF融资融券余额 4月28日ETF两融余额前三位分别为：华安易富黄金ETF(88.27亿元)、易方达黄金ETF(70.62亿元)和华夏恒生(QDII-ETF)(53.77亿元)，前10具体见下表： | 代码 | 基金名称 | | --- | --- | | 518880.SH | 华安易富黄金ETF | | 159934.SZ | 易方达黄金ETF | | 159920.SZ | 华夏恒生 ...

Fund Overview - The fund is named "Huaxia National Index General Aviation Industry Exchange-Traded Fund" and is classified as a stock-type ETF [12][2] - The fund's initial share value is set at 1.00 RMB, with the same price for subscription [13][23] - The fund is managed by Huaxia Fund Management Co., Ltd., and the custodian is Guotai Haitong Securities Co., Ltd. [2][12] Subscription Details - The subscription period for the fund is from May 7, 2025, to May 16, 2025 [20][3] - The total fundraising cap for the fund is set at 8 billion RMB, excluding interest accrued during the fundraising period [11][16] - Investors can subscribe through online cash subscription or offline cash subscription methods [20][19] Subscription Process - Investors must have a Shenzhen Stock Exchange A-share account or a securities investment fund account to participate in the subscription [3][25] - For online cash subscriptions, a minimum of 1,000 shares must be subscribed for each transaction, while offline cash subscriptions require a minimum of 50,000 shares [4][22] - Subscription fees are applicable, with a maximum rate of 0.80% based on the subscription amount [22][23] Fund Management and Operations - The fund will adopt a full replication strategy and appropriate alternative strategies to track the National Index General Aviation Industry Index [8] - The fund is designed to invest in stocks, stock options, index futures, and other financial derivatives, which may expose it to various risks [9][10] - The fund's management has the authority to adjust the subscription arrangements based on market conditions [15][44] Investor Information - Investors are required to ensure that the funds used for subscription are legally sourced and available for their use [4][4] - The fund's detailed information, including the fund contract and prospectus, will be available on the management company's website [6][6] - Investors can contact the management company for any inquiries regarding the fund [44][49]

◎记者 朱妍 随着ETF基金规模一举突破4万亿元大关，纯指数赛道的竞争进入白热化阶段。兼具被动与主动特征的 指增基金，能否成为指数投资领域的新增长点？数据显示，今年以来指增基金新发数量呈爆发式增长势 头，为去年同期的近七倍。然而，指增基金规模增长近期陷入停滞的困境。 业内人士认为，投资者认知门槛较高以及产品超额收益稳定性欠佳，是制约指增基金规模扩张的主要原 因。为了突破增长瓶颈，基金公司与代销机构以稳为主，从优化策略、升级风控、创新服务等多个维度 发力，开拓指数投资新蓝海。 锚定指数投资时代新增长点 国金基金量化团队人士认为，指增基金能满足投资者被动投资与获取超额收益的双重需求。不断丰富的 指数类型，也为指增产品提供了更多选择，未来指增基金发展空间广阔。 "布局ETF赛道需要具备一定的资源实力，大平台在这方面更具优势，且这种趋势可能会进一步加剧。 但指增产品规模的增长并非单纯依赖营销投入，在很大程度上取决于团队的专业能力。只有做出良好业 绩，产品才能逐渐获得投资者的认知与认可，进而实现规模增长。"杨梦说。 指增基金发展面临规模瓶颈 尽管基金公司频频发力，但指增基金规模增长面临瓶颈。天相投顾数据显示，截至一季度 ...

值得一提的是，主动权益类基金发行热度有所回升。一季度，超50只主动权益类基金成立，合计募集规 模约178.40亿元，较2024年四季度新发数量及规模环比回升，多只基金发行规模超过10亿元。 和追踪特定指数的被动管理基金不同，主动权益类基金的业绩表现高度依赖于基金经理的能力和决策。 近年来，主动权益类基金表现欠佳，被动式的指数型基金规模大幅增长。 兴业证券研报显示，随着市场赚钱效应改善，以及主动管理的超额收益回归，或将驱动基金新发改善， 进一步推动主动管理规模企稳回升。 今年以来，生成式AI大模型、人型机器人等产业取得突破性进展，带动中国科技板块备受关注。科创 板股票成主动权益类基金配置重点。兴业证券研报显示，今年一季度，主动权益类基金的科创板股票配 置比例为15.17%，较去年四季度上升2.11个百分点。与此同时，科创板超配比例持续上行，由5.91%提 升至7.50%。 今年以来，新基金的发行规模已经突破3000亿元，其中投资股票市场的权益类基金发行规模占比近半， 主动权益类基金新发数量及规模环比回升。 图为一家基金公司的牌子。（井韦 摄） 数据显示，截至4月24日，今年以来共成立了375只新基金，发行规模超 ...

北京商报讯(记者郝彦)"五一"国际劳动节前夕，为防止大笔资金涌入摊薄原份额持有人收益，多只基金在节前或节假日期间"闭门谢客"。安信基金、浙商基 金、先锋基金、南方基金、英大基金等公募旗下部分产品宣布在"五一"前暂停申购，并自节后，即5月6日起恢复正常申购，涉及产品多为债券型基金、货币 市场基金以及同业存单指数基金。多家基金管理人表示，相关举措是为了保证基金稳定运作，保护基金份额持有人的利益。有业内人士提示，资金大量流入 寻求节假日的资金保值需求，可能会引发基金净值大幅波动风险，提前暂停申购是为保障投资者利益，投资者若有相关配置计划，则需要提前购入相关投资 品种。 | 를 图片来源：安信基 | 750006 750007 | 安信现金管理货币A 安信现金管理货币B | 保护基金份额持有人的利益。 | 2025年4月29日 | 2025年4月29日 | 2025年4月29日 | 券交易所休市安排。 | 日安排的通知》(国办发明电【2024】12号)及沪深证 | 招募说明书》、国务院办公厅《关于 2025年部分节假 | 证券投资基金信息披露管理办法》、安信现金管理货 币市场基金基金合同》、安信现金管理货币市场基金 ...

Group 1 - In the first quarter of this year, 17 pension target funds achieved over 100% growth in scale, with 5 funds increasing by more than 10 million shares each [2][5] - The funds with significant growth include Bank of China Pension Target Date 2050, Yinhua Zunxi Stable Pension One-Year Holding A, and others [2][5] - Conversely, 8 pension target funds saw their shares decrease by over 30%, with some funds like Changxin Yinian Balanced Pension (FOF) A and others dropping by more than 50% [5][7] Group 2 - Several pension target funds received over 30 million shares in additional purchases, primarily focusing on bond funds [8][12] - The fund "Jiahe Pantai Short Bond C" was notably bought by "Jiaoyin Anxiang Stable Pension One-Year A," becoming the third-largest holding with 180 million shares [12] - In terms of equity holdings, pension target funds increased their positions in ETFs, focusing on themes such as low volatility dividends and technology [16]

Core Viewpoint - Xinghua Fund Management Co., Ltd. celebrates its fifth anniversary, emphasizing its investment philosophy of "deep research creates excess returns" and its differentiated development path in the public fund industry [1][2] Group 1: Company Overview - Xinghua Fund is the first public fund institution headquartered in Qingdao, Shandong, and has established a comprehensive product matrix covering various types such as credit bonds, interest rate bonds, fixed income+, FOF, and equity [1] - As of March 31, 2025, Xinghua Fund serves nearly 160,000 clients and has distributed a total of 499 million yuan in dividends [1] Group 2: Investment Performance - The Xinghua Anyu Interest Rate Bond A fund has achieved a net value growth of 7.41% over the past year, significantly outperforming its performance benchmark, and a cumulative net value growth of 14.05% since inception [1] - According to the China Galaxy Securities Fund Research Center, Xinghua Fund ranks 8th among 121 companies in terms of long-term active bond investment management capabilities over the past three years [1] Group 3: Future Strategy - In 2025, Xinghua Fund plans to enhance its product matrix by focusing on traditional strengths in interest rate bonds and credit bonds while also emphasizing short bond funds, bond index funds, and equity funds to create a diversified product system [2] - The company has established branches in Beijing, Jinan, Qingdao, and Shanghai, with a professional team of over 60 members, more than 40% of whom are in research and investment roles [2] - Xinghua Fund aims to support local quality enterprises and optimize capital allocation to contribute to the industrial structure upgrade in Shandong and nationwide [2]