MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 课后，华池一中教师也高度认可："课程精准填补了校园金融教育空白，为青少年财商成长提供了专业 支撑。"此次活动通过精准匹配高中生需求，让公募投教真正"走进心里"，成为践行普惠金融理念的生 动实践。 针对高中生财富认知多聚焦于零花钱、压岁钱的群体特征，国联基金投教讲师以"价值观-知识-能力"三 维目标构建课程体系，精准设计三大核心话题："理财是关于风险与收益的科学""守护财富比创造财富 更重要""树立正确理财价值观"。课程既系统普及资产与负债、预算管理、复利效应等基础金融概念， 又深入解析"高收益伴随高风险"的底层逻辑，同步强化金融诈骗防范意识，完全契合公募基金投教"基 础认知+风险提示"的核心要求。 为破解金融知识抽象化难题，课程采用案例互动的具象场景模式提升传播实效：结合高中生生活场景拆 解"刷单返利陷阱""游戏账号诈骗""网络投资理财诈骗"等典型风险，设置具体案例分析并开展互动体会 交流。此外，为提升高中生日常理财意识，围绕"每月零花钱如何分配更合理"等贴近学生生活的问题引 导讨论，指导学生运用记账工具记录日常开支、制定零花钱预算方案，在 ...

Core Insights - The personal pension fund market in China has seen significant growth, with 293 funds collectively exceeding 400 billion yuan in size by the end of Q2 2025 [1][2] - The average return for these funds in 2025 has been reported at 16.61%, with a majority of funds showing positive performance [3][6] Fund Performance - As of Q2 2025, the total size of personal pension funds reached 401.37 billion yuan, with five funds exceeding 10 billion yuan each, including products from E Fund and Huaxia Fund [2] - The top-performing funds are primarily index funds, with notable returns from Tianhong Fund and E Fund, tracking various indices such as the CSI Science and Technology Innovation 50 [3] - The Tianhong CSI Science and Technology Innovation 50 ETF has achieved a return of 61.27% year-to-date, outperforming its benchmark by over 1 percentage point [3] - Non-index funds like ICBC Pension 2050Y have also performed well, with a return of 37.28%, significantly exceeding its benchmark [3] Fund Management - E Fund leads the market with 25 personal pension fund products and a total management scale of 88.78 billion yuan, followed by Huaxia Fund with 21 products and 47.08 billion yuan [2] - A total of 62 fund management institutions are involved in managing the 293 personal pension funds [2] Underperforming Funds - Over thirty funds have underperformed against their benchmarks, with the Xingquan CSI 300 Index Enhanced Y yielding only 9.47%, falling short by over 7 percentage points [6]

Group 1 - The core announcement is regarding the 27th open period of the Changjiang Leying Regular Open Bond Fund, which will be from October 15, 2025, to October 28, 2025, allowing investors to subscribe and redeem fund shares during this period [1][2] - The fund operates on a regular open-end basis, with a closed period of three months, during which no subscription or redemption is allowed [1][2] - The fund's 27th closed period is from July 15, 2025, to October 14, 2025, after which it will enter the 28th closed period starting October 29, 2025 [2] Group 2 - The minimum subscription amount for investors through sales institutions is set at RMB 10, including subscription fees, while the minimum for additional subscriptions is RMB 1 [4] - For direct sales through the fund manager, the minimum initial subscription is RMB 1, and additional subscriptions are also RMB 1 [5] - The fund manager may adjust the minimum subscription amounts based on market conditions, with prior announcement required [5] Group 3 - The fund charges a subscription fee that decreases as the subscription amount increases, following a front-end fee model [6] - The fund manager will confirm the validity of subscription applications within one business day (T+1) after submission [7] - Investors must ensure they have sufficient fund shares for redemption; otherwise, the redemption application will not be valid [10] Group 4 - The minimum redemption request is set at 10 fund shares, but if a transaction results in a balance of fewer than 10 shares, the sales institution may process a full redemption [8] - Redemption fees are incurred by the fund share holder and are used to cover necessary fees [9] - The fund manager will process redemption payments within seven business days (T+7) after the application is confirmed [10] Group 5 - The fund's direct sales institution is Changjiang Securities (Shanghai) Asset Management Co., Ltd., with a customer service hotline provided for inquiries [11] - The fund will disclose its net asset value at least weekly during closed periods and daily during open periods [12] - Investors are encouraged to refer to the fund's official website for detailed information and updates regarding the fund [13]

Core Insights - Closed-end funds (CEFs) are currently seen as undervalued investment opportunities, often trading at discounts to their net asset values (NAVs), making them attractive for contrarian investors [2][3] High Yield CEFs: Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) - EVT invests in both common and preferred stocks, focusing on qualified dividends that are taxed at favorable long-term capital gains rates [4] - The fund currently yields 8%, significantly higher than the typical 2% yield of standard dividend funds, partly due to a leverage of about 20% of assets [6][7] - EVT trades at an 8% discount to NAV, wider than its historical average of 5% [9] High Yield CEFs: Eaton Vance Tax-Managed Buy-Write Opportunities (ETV) - ETV employs a covered call strategy, holding a portfolio of 150 large-cap stocks and generating income through selling covered calls on major market indexes [11] - The fund trades at approximately 94 cents on the dollar, providing a cost-effective way to gain exposure to its monthly distributions [12] High Yield CEFs: BlackRock Enhanced Global Dividend Trust (BOE) - BOE has a diversified portfolio of about 50 stocks, split between U.S. and international equities, focusing on blue-chip companies [13][15] - The fund yields over 8%, supported by a covered call strategy, and currently trades at an 8.7% discount to NAV, which is less than its long-term average of 11% [16] High Yield CEFs: BlackRock Resources & Commodities Strategy Trust (BCX) - BCX invests in stocks of commodity and natural resources companies, maintaining a portfolio of 45 companies across energy and materials sectors [17] - The fund is currently available at a 6% discount, which is less attractive compared to its long-term average discount of 10% [18] High Yield CEFs: ClearBridge Energy Midstream Opportunity Fund (EMO) - EMO focuses on midstream energy companies, yielding nearly 10% and utilizing high leverage of about 30% to enhance returns [19][21] - The fund has outperformed its benchmark, the Alerian MLP Index, since 2023, but trades at a premium compared to its historical average discount of 15% [23]

Group 1 - Rongtong Fund Management Co., Ltd. announced the departure of Deputy General Manager Zou Xi due to personal reasons, marking a significant change in the company's leadership [1][4] - Zou Xi has been a core figure in the equity investment sector and has witnessed the evolution of China's public fund industry over 24 years, making his departure noteworthy [1][5] - The company has undergone a strategic transformation following changes in its shareholding structure, which has influenced its management team [1][8] Group 2 - Zou Xi's exit was preceded by a gradual withdrawal from managing funds, having stepped down from all four funds he managed by September 6, 2025, leading to speculation about his departure from the public fund industry [4][5] - His career at Rongtong Fund began in 2001, and he has held various positions, culminating in his role as Deputy General Manager in 2020, where he was recognized for his expertise in cyclical stock investments [5][6] - Zou Xi's management experience includes overseeing funds that reached a peak size of approximately 15 billion yuan in 2020, but this has since decreased by over 70% due to market pressures [6][7] Group 3 - The departure of Zou Xi is part of a broader trend in the public fund industry, with 292 fund managers leaving their positions in the first three quarters of 2025, indicating a shift away from reliance on "star fund managers" towards a more team-oriented approach [9] - The restructuring of Rongtong Fund's management team began after a change in its controlling shareholder in 2022, leading to a series of high-level adjustments [8][9] - As of mid-2025, Rongtong Fund managed assets totaling 339.8 billion yuan, with public fund assets amounting to 154.2 billion yuan [8]

Core Viewpoint - Recent changes in fund managers at GF Fund highlight a shift towards a collaborative management model, reflecting ongoing trends in the industry to optimize fund performance and adapt to market volatility [2][6][7]. Group 1: Fund Manager Changes - GF Fund announced the departure of fund manager Jiang Ke from GF Rui Jie Select, with Chen Yanzhong taking over; other funds transitioned from single management to co-management [2][3]. - A total of 64 new fund managers have been hired in the past year, with 13 fund managers leaving, representing nearly 20% of the total funds managed by GF Fund [2][6]. - The trend of increasing co-management is evident, with several funds now managed by teams rather than individual managers [3][6]. Group 2: Fund Performance - Three of the four funds involved in the recent changes have recorded losses exceeding 30% compared to their performance benchmarks over the past three years [2][4]. - Specifically, GF Cheng Xiang Mixed and GF Xing Cheng Mixed have seen cumulative returns of approximately -36% and -37%, respectively, underperforming their benchmarks by about 63 and 65 percentage points [4][5]. - The newly appointed managers have significant experience, with annualized returns varying among them, indicating a potential for improved performance moving forward [3][5]. Group 3: Industry Trends - The shift towards a platform-based research and investment strategy is becoming a common practice in the industry, moving away from the reliance on star fund managers [6][7]. - The recent changes at GF Fund are part of a broader trend in the industry, where firms are adapting to new regulatory environments and market conditions by enhancing collaborative investment strategies [7][8].

贺燕萍自2015年11月起担任西部利得基金总经理，直至此次离任。在十年时间内，西部利得基金管理规 模从不足百亿跃升至突破千亿。天天基金网显示，目前西部利得基金管理规模为1166.46亿元，共有基 金数量147只，基金经理27名。 西部利得基金迎来人事调整。 10月10日，西部利得基金发布高级管理人员变更公告，总经理贺燕萍因到龄退休，已于10月4日离任， 由董事长何方代任总经理一职。同日，西部证券也发布了关于控股子公司主要负责人辞职的相关公告， 并表示何方代职期不超过六个月。 西部利得基金在公告中表示，董事会对贺燕萍在任期间为公司发展做出的突出贡献表示由衷感谢。 担任总经理十年，此前已卸任首席信息官 贺燕萍生于1967年10月，自2015年11月起担任西部利得基金总经理。其卸任总经理职务之前，西部利得 基金曾于8月28日发布公告称，贺燕萍因工作职务调整卸任首席信息官职务，并继续担任公司总经理。 从履历来看，贺燕萍具有丰富的金融从业经验，加入西部利得基金之前，其曾担任华夏证券研究所客户 部经理，中信建投证券机构销售部总经理助理，光大证券销售交易部总经理，光大证券资产管理公司总 经理，国泰基金副总经理等职务。 20 ...

Core Insights - The total net asset value of public funds in China reached 36.25 trillion yuan by the end of August, marking a significant increase of over 1 trillion yuan from the end of July, with a growth rate of 3.34% [1] - The growth in public fund size reflects a recovery in the equity market and a restoration of investor confidence, indicating the attractiveness of capital markets for wealth management [1] - The strong performance of equity and mixed funds has been a major driver of the overall growth in public fund size, with equity funds showing a notable increase in scale and share [1][2] Fund Performance - By the end of August, the scale of equity funds reached 5.55 trillion yuan, increasing by over 600 billion yuan from July, with a share increase of 796.68 billion units [1] - Mixed funds also saw significant growth, reaching 4.16 trillion yuan, with an increase of over 300 billion yuan from July [1] - The A-share market has shown strong performance, with the Shanghai Composite Index rising 7.97% in August, marking its best performance in nearly 11 months [2] Market Dynamics - The willingness of investors to allocate to equity funds has surged due to the recent market recovery and declining deposit rates, prompting a shift from savings to equity markets [2] - In August, a total of 1.02 billion new fund shares were issued, with equity funds accounting for 472 billion shares, representing over half of the total issuance [2] - Conversely, bond funds, which previously drove public fund growth, have experienced a decline in both scale and share [2] Policy Environment - Recent policies have created a favorable environment for the development of public funds, including initiatives to enhance the proportion of equity funds and streamline the approval process for exchange-traded funds (ETFs) [3] - Continuous reforms in fund fee structures are expected to foster better services, including investor education and diversified product design [3] - The public fund industry is encouraged to better meet the wealth management needs of residents while supporting the real economy [3]

Core Points - The Barings Global Short Duration High Yield Fund announced a monthly dividend of $0.1223 per share for October 2025, payable on November 3, 2025 [1] - The dividend represents an annualized yield of 9.49% based on the Fund's share price of $15.46 as of September 30, 2025 [1] - The Fund expects the dividend to be comprised of net investment income based on current projections [1]

北京商报讯（记者 李海媛）10月10日，西部证券公告称，控股子公司西部利得基金原总经理贺燕萍因 到龄退休，辞去西部利得基金董事、总经理职务，辞职后贺燕萍在西部利得基金不再担任任何职务。西 部利得基金董事长何方代为履行总经理职责，代职期不超过六个月。 ...