TORONTO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Citadel Income Fund (TSX – CTF.UN) (the “Fund”) is pleased to announce that, with respect to the previously announced annual redemption of 284,514 units of the Fund, the redemption price per unit is $3.8905. The pro-rata redemption rate will be 23.44% (i.e., for every 1,000 units submitted by a unitholder for redemption, 234 units will be redeemed). Fund expects to pay the redemption proceeds to redeeming unitholders on or before December 18, 2025. For more informa ...

Core Viewpoint - The bond fund market is experiencing significant turbulence as redemption pressures continue into the fourth quarter, following a substantial net redemption of over 470 billion units in the third quarter, indicating a shift in market dynamics driven by style changes, policy expectations, and institutional behavior [1][2]. Redemption Pressure - The bond fund category has faced the most severe losses in the second half of the year, with a total net redemption of 474.4 billion units from the end of the second quarter to the end of the third quarter, resulting in a scale reduction of 169.5 billion yuan [3]. - Among the 7201 bond funds, over 60% experienced net redemptions, with mid-to-long-term pure bond funds accounting for over 90% of the total net redemptions [3]. Fund Performance and Market Dynamics - Notable funds have seen their scales halved, such as the Huaxia Dingmao Bond Fund, which dropped from 34.3 billion yuan to less than 16 billion yuan in a single quarter [4]. - As of December 2, over 60 bond funds have announced increases in net asset value precision due to large redemptions, indicating ongoing pressure [4]. - Institutional redemptions are primarily driven by poor performance and the need to meet year-end financial indicators, although some funds have maintained stable inflows [5][6]. Market Sentiment and Future Outlook - The current redemption wave is attributed to three main factors: the siphoning effect from the stock market, poor bond fund performance, and policy uncertainties [6]. - The stock market has shown significant gains, with the Shanghai Composite Index rising over 16% and the ChiNext Index over 43% year-to-date, prompting a natural shift of funds from bonds to equities [6]. - Anticipation of new regulations regarding public fund sales fees is creating uncertainty, with expectations that these changes may negatively impact bond fund liquidity and increase redemption pressures [7].

袁志刚，上海宏观经济学会副会长、复旦大学就业与社会保障研究中心主任、华东师范大学经济与管理 学部学术委员会主任，法国巴黎高等社会科学研究学校经济学博士，教育部长江学者特聘教授，国家教 学名师，博士生导师，享受国务院政府特殊津贴。 曹啸，上海财经大学讲席教授、博士生导师、金融学院副院长，量化金融研究中心主任，曾主持完成国 家社科重点以及财政部、发改委、中国人民银行、上海市等委托的课题研究，研究成果多次获得国家主 要领导和省部级领导的批示。 本期沙龙的主嘉宾薛宏立，浦发银行金融市场总监、总行首席经济学家、浦发研究院执行院长，经济学 博士，正高级经济师，在金融行业从业超20年，深入研究市场交易、债券投资、量化交易、衍生品对冲 套保、产业基金与PPP、流动性风险管理、市场风险管理、ALM、FTP等领域，获2019年上海市领军人 才等荣誉，并入选2023年东方英才计划领军项目。 本期沙龙圆桌对话的主持人由浦发银行金融市场部总经理彭松担任。他于2003年加入浦发银行，历任浦 发银行总行金融市场部总经理助理、副总经理，浦发银行伦敦分行筹备组副组长、副行长、行长，深耕 金融市场领域超20年，是极具国际视野的金融市场业务专家。 ...

Group 1 - The Beijing Jingguochuang Intelligent Computing M&A Equity Investment Fund (Limited Partnership) has been established with a total investment of 30 billion RMB [1] - The fund is managed by Beijing Jingguochuang Fund Management Co., Ltd., and its operational scope includes private equity investment fund management and venture capital fund management services [1] - The fund's partners include Beijing Energy Group Co., Ltd., Beijing Innovation Industry Investment Co., Ltd., and Beijing Jingguochuang Fund Management Co., Ltd. [1]

Group 1 - The core viewpoint is that gold remains a favorable investment due to factors such as a weak dollar driven by liquidity easing, ongoing geopolitical risks, and potential market uncertainties ahead of the 2026 U.S. midterm elections [1] - Gold is expected to benefit from the continuation of global central bank gold purchases, which will provide fundamental resilience to gold prices [1] - The relative attractiveness of U.S. Treasury bonds is increasing due to rising economic and policy uncertainties in Europe and Japan, leading to a higher proportion of gold in international reserves while the dollar's share declines [1] Group 2 - In the medium to long term, gold prices are anticipated to trend upward, suggesting that investors may consider participating in subsequent pullbacks and gradually accumulating positions [1] - Direct investment in physical gold and tax-exempt gold ETFs (518800) are recommended, along with gold stock ETFs (517400) that cover the entire gold industry chain [1]

Core Viewpoint - Hengyue Fund, established in 2017 in Shanghai with a registered capital of 230 million yuan, aims to become a differentiated and boutique public fund manager focusing on active management and stable long-term returns for investors [4][7]. Company Overview - Hengyue Fund was founded in 2017 and has a registered capital of 230 million yuan [4][7]. - The major shareholder, Li Shujun, has extensive experience in private equity, with his firm, Zhixin Capital, being a well-known private equity investment institution in the Asia-Pacific region [4]. - The company emphasizes active management, balancing active equity and unique "fixed income+" strategies [4]. Product Line - Hengyue Fund offers a variety of products, including: - Active equity funds such as Hengyue Advantage Select, Hengyue Growth Select, and Hengyue Blue Chip Select [11]. - Fixed income products like Hengyue Seasonal Joy and Hengyue Pure Bond [11]. - Thematic and value-oriented funds focusing on domestic demand and technology [11]. Performance - Over the past five years, Hengyue Fund's equity funds have performed well, ranking 10th out of 137 public fund companies in terms of absolute returns from July 1, 2020, to June 30, 2025 [12]. Investment Team - The investment team at Hengyue Fund is robust, with an average of nearly 9 years of experience in the securities industry among the 10 fund managers [16]. - The research team covers a wide range of industries, including essential and discretionary consumption, pharmaceuticals, technology, and finance [17]. Recognition - Hengyue Fund received the "Most Growing Fund Company Award" at the 19th Shanghai Securities Awards in 2022, highlighting its growth and performance in the industry [7].

Core Viewpoint - The recent disappearance of "Bond Queen" Zhai Chenxi has raised concerns in the financial industry, particularly regarding her influence and the future of Xinhua Fund, which she previously led to significant growth [2][12]. Group 1: Background of Zhai Chenxi - Zhai Chenxi, born in 1979, has had a remarkable career in finance, transitioning from vice president to a leading figure in the bond market, and has been recognized for her significant contributions to the industry [4][5]. - During her tenure at Xinhua Fund, the company's assets under management surged from 35.2 billion to 86.8 billion, nearing her ambitious target of 100 billion within three years [5][20]. - Zhai's educational background includes a master's degree in finance and a CFA qualification, showcasing her strong academic credentials [5][6]. Group 2: Xinhua Fund's Performance - Under Zhai's leadership, Xinhua Fund's management scale reached a peak of 86.8 billion by mid-2022, driven largely by the success of money market and bond funds [20][22]. - However, following her departure in February 2023, the fund's assets have significantly declined, dropping to 50.4 billion by the first quarter of 2023, and further to approximately 54.2 billion by the third quarter of 2025 [22][23]. - The fund's focus on fixed income has resulted in a high proportion of its assets (87%) being allocated to bond and money market funds, while equity funds account for only 13% [22][23]. Group 3: Changes in Leadership and Ownership - Since the change in actual control of Xinhua Fund in February 2023, there have been significant leadership changes, with seven executives leaving and seven new appointments within a short period [17][19]. - The fund's ownership has shifted to state-owned entities, with Beijing Financial Street Investment Group becoming the actual controller, marking a significant transition in its governance structure [14][15]. - The rapid turnover in leadership positions has raised questions about the stability and strategic direction of Xinhua Fund moving forward [17][19].

以下文章来源于妙投APP ，作者段明珠 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 先搞清楚为何A500ETF成了兵家必争之地？ 出品 | 妙投APP 作者 | 段明珠 编辑 | 关雪菁 头图 | AI生成 一年前，近70家公募的中证A500ETF首发大混战，堪称基金史上节奏最快、投入最大、同质化竞争最惨烈的一场指数发行战役。 如今，A500ETF的发展进入持久战阶段（ 持营 ），已有近80家基金公司发行百余只产品，牵引的资金总规模近2300亿元；其中已有不少掉队者。 但A500ETF可能仍是市场上 唯一一个头部阵营尚未稳固的宽基赛道 。近期传闻"A500ETF可能会纳入期权标的，上交所和深交所各一只"，如果消息为 真，最终入选的基金就有可能杀出重围，坐稳中证A500ETF的头部交椅。 一时间，这场战役将迎来新一轮升维战。 如果说过去中国ETF市场还是1.0时代，以产品创新驱动规模发展；A500ETF上市一年来掀起的"腥风血雨"意味着市场已经进入2.0时代， 比拼的核心 是资源与执行力 。 作为市场最佳切面，通过复盘近一年来各基金公司在A500ETF的种种举 ...

Group 1 - The core viewpoint of the article highlights a resurgence in public fund self-purchases as the year-end approaches, with several fund companies purchasing their new funds in November [1] - As of November 28, the net subscription amount for equity funds in November reached 210 million, with the year-to-date net subscription amount exceeding 4.5 billion, more than double that of the same period last year [1] - Institutional confidence in the equity market is reflected in their accelerated investment with "real money" as the market heads towards the "final battle" in 2025 [1] Group 2 - From a mid-term perspective, it is anticipated that the upward trend will continue into 2026 due to a low probability of a global liquidity crisis and the Federal Reserve remaining in a rate-cutting cycle [1] - Despite ongoing discussions about a technology bubble, the upward cycle in the technology sector has not yet concluded, and the fundamentals of leading tech companies have not reached a peak deterioration stage [1] - The policy environment for A-shares is viewed positively, with future earnings expected to provide clear support for valuations [1]

本期招财号高流量作品仍以图文类型的轻量化内容为主，其中，福利类内容占主流。 本期为基金社交媒体指数（2025年10月）。 本期为基金社交媒体指数（2025年10月）。 10月基金总榜Top3分别为富国基金、华夏基金、中欧基金。本期新上榜机构有长城基金（Top17）、长信基金（Top19）、平安基金（Top20），兴证全球基 金（9月Top14）、景顺长城基金（9月Top15）、汇丰晋信（9月Top19）掉出榜单。 抖音平台本期上榜作品集中于两大主线：节日情感营销与轻量化投资者教育，体现出基金公司在内容策略上对用户情绪共鸣与理财认知提升的双重关注。恰 逢中秋、国庆双节，多家机构结合团圆、家国等主题推出系列内容，以情感化表达拉近与用户距离，如富国基金合唱团IP推出《月亮之歌》向祖国、用户表 达节日祝福；南方基金围绕中秋佳节制作视频，传递团圆安康的祝愿，并搭配互动活动提升用户参与度。投资者教育相关作品方面，多个账号通过通俗易 懂、趣味性的方式讲解投资知识，如反诈提示、定投策略、投资价值观等，提升用户理财认知。具体来看，万家基金解读"存款搬家现象"，分析其成因、资 金流向与市场影响，为用户资产配置提供参考，获1.3万 ...