网址：www.cnht.com.cn 3、平安证券股份有限公司 ■ 投资者可通过以下途径咨询有关事宜： 1、天弘基金管理有限公司 客服电话：400-986-8888 网址：www.thfund.com.cn 2、金融街证券股份有限公司 客服电话：956088 自2026年01月12日起，天弘基金管理有限公司旗下部分基金新增金融街证券股份有限公司、平安证券股 份有限公司为申购赎回代办证券公司。投资者在销售机构办理基金申购、赎回等业务的具体流程与规则 请以销售机构的规定为准。适用基金范围如下： 客服电话：95511-8 网址：stock.pingan.com 特此公告。 天弘基金管理有限公司 二〇二六年一月十二日 ...

一、适用基金及业务范围 ■ 二、咨询方式 1.招商银行招赢通 网址：https://fi.cmbchina.com 联系电话：95555 2.融通基金管理有限公司 为了更好地满足广大投资者的理财需求，根据融通基金管理有限公司（以下简称"融通基金"）与招商银 行股份有限公司（以下简称"招商银行"）签署的销售协议，从2026年1月12日起，融通基金旗下融通中 国概念债券型证券投资基金（QDII）C类新增招商银行旗下招赢通平台为销售机构。现将有关事项公告 如下： 网址：www.rtfund.com 客户服务电话：400-883-8088（免长途话费）；0755-26948088 三、风险提示 本基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利，也不保 证最低收益。基金的过往业绩及其净值高低并不预示其未来业绩表现。投资有风险，敬请投资者在投资 基金前认真阅读《基金合同》和《招募说明书》等基金法律文件，了解基金的风险收益特征，并根据自 身的风险承受能力选择适合自己的基金产品。敬请投资者在购买基金前认真考虑、谨慎决策。 特此公告。 融通基金管理有限公司 2026年1月12日 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公告送出日期：2026年1月12日 1 公告基本信息 ■ 2 其他需要提示的事项 根据相关法律法规及《路博迈港股通科技股票型证券投资基金基金合同》、《路博迈港股通科技股票型 证券投资基金招募说明书》（及其更新）等法律文件的规定，路博迈港股通科技股票型证券投资基金 （以下简称"本基金"，A类份额基金代码：026173，C类份额基金代码：026174）申购和赎回的开放日 为上海证券交易所和深圳证券交易所的正常交易日，本基金参与港股通交易且该工作日为非港股通交易 日时，基金管理人可暂停本基金的申购、赎回和定期定额投资业务。 为保障本基金平稳运作，维护基金份额持有人利益，根据上海证券交易所《关于2026年沪港通下港股通 交易日安排的通知》、深圳证券交易所《关于2026年深港通下的港股通交易日有关安排的通知》，路博 迈基金管理（中国）有限公司（以下简称"本公司"）决定对处于沪深交易所交易日的下列2026年非港股 通交易日暂停本基金的申购、赎回和定期定额投资等交易类业务，并自下列节假日的下一开放日恢复本 基金的上述业务，届时不再另行公告。 ■ 注：1、上述日期已剔除和境内 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公告送出日期：2026年1月12日 注：对于当日单个基金账户单笔或多笔累计申购、转换转入及定期定额投资的金额超过人民币100万元 （不含）的申请，本基金管理人有权拒绝。 2.其他需要提示的事项 （1）在本基金上述暂停大额申购（转换转入、定期定额投资）业务期间，本基金的赎回（转换转出） 业务正常进行。 （2）自2026年1月16日起，本基金将恢复办理大额申购（转换转入、定期定额投资）业务，届时不再另 行公告。 1.公告基本信息 （3）投资者可以登录本公司网站（www.fund001.com）或拨打客户服务电话（400-700-5000，021- 61055000）咨询基金相关信息。 ■ 风险提示：基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金财产，但不保证基金一定盈 利，也不保证最低收益。基金的过往业绩并不代表其未来表现。投资有风险，敬请投资者认真阅读基金 的相关法律文件，并选择适合自身风险承受能力的投资品种进行投资。 特此公告。 交银施罗德基金管理有限公司 关于交银施罗德成长混合型证券投资基金暂停及恢复大额申购（转换转入、定期定额投资）业务的公告 ■ ...

Group 1 - The A-share market has shown a structural trend since the beginning of 2026, with thematic ETFs gaining popularity due to their precise sector positioning and efficiency, resulting in a net inflow of 9.519 billion yuan and an average net value growth rate of 6.6% as of January 11 [1] - Leading products in niche sectors have performed exceptionally well, with eight ETFs, including Huaxia CSI Nonferrous Metals Industry ETF and E Fund CSI 300 Non-Bank ETF, each seeing net inflows exceeding 1 billion yuan within the month [2] - The strong performance of thematic ETFs reflects a market focus on technology innovation and high-end manufacturing, with 99 products achieving net value growth rates exceeding 10% in January [2] Group 2 - The impressive performance of thematic ETFs is attributed to the public fund industry's ongoing deepening and refinement of product layouts, moving away from homogeneous competition to focus on differentiated niche themes [3] - New product launches, such as Yongying Fund's Industrial Software Theme ETF and E Fund's CSI All-Index Food ETF, demonstrate the trend of targeting specific segments within broader industries, enhancing the product spectrum [3] - The competitive landscape has shifted, with leading institutions and smaller public funds adjusting strategies to create "blockbuster products" in niche areas, as evidenced by the rapid scale growth of E Fund's AI Theme ETF [3][4]

Group 1 - The boundary between passive investment through ETFs and actively managed funds is becoming increasingly blurred, with ETFs evolving into a "duet" with active equity funds [1] - The direction of ETF applications is increasingly serving as a "barometer" for many active equity funds, reflecting market demand and profitability [2] - Active equity funds are adopting ETF-like characteristics, with high concentration in specific sectors to achieve beta returns, often pushing their positions close to the 90% limit [2] Group 2 - The issuance of ETFs is often seen as a precursor to industry booms, as evidenced by the rapid adoption of robotics ETFs leading to a surge in active equity fund investments in the robotics sector [2] - The recent focus on commercial aerospace by active equity funds aligns with the launch of the first satellite ETF, indicating a strategic shift towards this sector [3] - A decrease in ETF applications for consumer sectors correlates with a reduction in active equity fund allocations to those areas, demonstrating a synchronized investment approach [3] Group 3 - The logic behind ETF applications has evolved from merely capturing flows to predicting industry turning points, significantly benefiting the research and investment strategies of active equity funds [4] - The recent surge in chemical ETFs reflects a strategic pivot in ETF product development, aligning with active fund managers' investment strategies [4][5] - The collaboration between ETF product development and research departments enhances the precision of investment strategies, allowing for better positioning in the market [8] Group 4 - The reverse positioning of ETFs during industry downturns often signals the end of a sector's decline and the potential for fundamental recovery, as seen in the solar and battery sectors [7] - The issuance of solar and battery ETFs by leading funds indicates a strategic bet on these sectors, supported by favorable policy changes [7] - The collaborative effect between ETF development and research departments is a significant advantage for precise market positioning [8]

证券时报基金研究院 安仲文 "另一方面，2025年港股估值大幅修复，2026年港股或将迎来从估值修复到盈利驱动的转变。"周寒颖 说，预计2026年港股风格或由2025年的极致成长转向相对均衡。 沪上某基金经理表示，单纯买赛道在2026年的胜率可能不高，港股估值修复后，逐步进入去伪存真的阶 段。经过2025年的上涨，港股整体已不是白菜价，市场需要寻找新的上涨动力。"同一赛道内的公司， 在2025年可能一荣俱荣，但在2026年的命运可能截然不同。" 上述基金经理认为，那些能在财务报表上看到业绩落地的公司将有更高的安全垫，而只会讲故事、无实 际业绩落地的尾部公司，则面临估值回落压力。 随着简单拥抱热门赛道的贝塔行情告一段落，港股投资正进入考验基金经理真正选股实力的阿尔法时 代。 在2025年度港股QDII业绩榜单中，这一转变已现端倪：汇添富基金、创金合信基金、易方达基金旗下 三只医药主题基金凭借领先的行业配置，包揽年度前三。赛道选择依然是业绩脱颖而出的重要基础，但 也预示了未来竞争的关键——当市场从普涨转向分化，单纯依赖行业贝塔已不足以保证持续胜出。 站在2026年的新起点，公募基金在港股的投资日益成为一场"实力的 ...

刚刚过去的2025年，主动权益基金赛道跑出"现象级"赢家：永赢基金任桀管理的永赢科技智选A以 233.29%的年度回报刷新纪录。该基金在2025年期间重仓的新易盛（300502）和胜宏科技（300476）在 2024年—2025年累计涨幅均超10倍，跻身本轮科技牛市的"超级牛股"行列。数据显示，这两只牛股上涨 的背后与基金持仓变化密切相关，新易盛基金持股数量占流通A股的比例峰值达40.65%，胜宏科技也达 23.68%，成为股价上涨的重要支撑。 回溯A股近十年三波典型牛市，为避免上市初期连续涨停干扰涨幅统计，证券时报基金研究院剔除牛市 期间上市的个股，最终筛选出19只十倍股。在这些个股的上涨轨迹中，公募基金几乎都留下了深度参与 的痕迹。2014年—2015年"杠杆牛"的同花顺（300033）、光启技术（002625），2019年—2021年"核心 资产牛"的阳光电源（300274）、亿纬锂能（300014）等13只龙头，2024年—2025年科技股行情中的新 易盛、胜宏科技等标的，在各自的上涨周期里都出现过基金的阶段性加仓。 "杠杆牛"时期，基金选股策略以短期风口捕捉为主。以同花顺为例，2014年三季度末仅有 ...

Group 1 - The boundary between passive investment through ETFs and actively managed funds is becoming increasingly blurred, with ETFs evolving into a "duet" with active equity funds [1] - The direction of ETF applications is increasingly serving as a "barometer" for many active equity funds, reflecting market demand and profitability [2] - Active equity funds are adopting ETF-like characteristics, with high concentration in specific sectors to achieve beta returns, often pushing their positions close to the 90% limit [2] Group 2 - The issuance of ETFs is seen as a signal for industry booms, with examples like the robotics sector where major fund companies launched ETFs, leading to a surge in active fund investments in that area [2] - The recent focus on commercial aerospace by active equity funds aligns with the launch of the first satellite ETF, indicating a strategic shift towards this sector [3] - A decrease in ETF applications for consumer sectors correlates with a reduction in active fund allocations to those areas, demonstrating a synchronized investment approach [3] Group 3 - The logic behind ETF applications has evolved from merely capturing flows to predicting industry turning points, significantly benefiting the research and investment strategies of active equity funds [4] - The recent surge in chemical ETFs reflects a strategic pivot in ETF product development, with active funds adjusting their holdings in response to these new offerings [4][5] - The synchronization between active fund managers and ETF applications indicates a high level of collaboration between public investment research and product development [5] Group 4 - The reverse positioning of ETFs often signals the end of industry downturns, as seen in the solar and battery sectors, where ETFs were launched despite active funds reducing their exposure [6] - The issuance of solar and battery ETFs by leading public funds aligns with policy changes aimed at industry reform, suggesting a strategic move towards enhancing profitability for leading companies [6] Group 5 - The collaboration between ETF product development and research departments has become a significant advantage for public funds in identifying investment opportunities [7] - ETF applications are evolving into precursors for active equity fund strategies, providing liquidity for sectors that are underrepresented or have been overlooked [7]

Core Viewpoint - The Hong Kong stock market is experiencing a prolonged consolidation phase, with significant challenges in liquidity and performance, particularly in sectors like innovative pharmaceuticals and technology, which previously showed strong growth [1][2][3] Group 1: Market Performance - In early 2026, the A-share market is performing well, while the Hong Kong stock market continues to struggle, particularly in sectors that previously led the market [1] - By the end of 2025, the performance of Hong Kong-themed funds, especially in innovative pharmaceuticals, has declined significantly, with only one fund showing over 112% growth [2] - The Hang Seng Index and Hang Seng Technology Index remain in a consolidation phase, contributing to the underperformance of related thematic funds [2] Group 2: Liquidity Issues - Liquidity is identified as a critical factor restraining the Hong Kong market, with a significant drop in net inflows from southbound funds, which were only 23 billion HKD in December 2025 [3] - The IPO market in Hong Kong is expected to remain active, with total fundraising projected to exceed 300 billion HKD in 2026, posing challenges for liquidity [3] - There is a structural liquidity issue in the Hong Kong market, characterized by concentrated trading in large-cap stocks while small-cap stocks experience very low trading volumes [3] Group 3: Investment Strategies - Investment in Hong Kong stocks should prioritize "winning rate over odds," emphasizing value investing and risk diversification to mitigate liquidity risks [6] - Investors are advised to maintain a cautious approach, focusing on high-quality companies with strong fundamentals and historical integrity, as these are likely to enjoy valuation premiums [6] - The current appreciation of the RMB is seen as a potential driver for increased capital inflows into the Hong Kong market, enhancing its attractiveness [4] Group 4: Sector Focus - Fund managers express optimism about technology and consumer sectors, highlighting the relative undervaluation of Hong Kong stocks compared to global markets [7] - There is a growing interest in high-end manufacturing and innovative consumer sectors, with a focus on companies that leverage supply chain advantages and product innovation [8] - The tea beverage industry is noted for its improving competitive landscape, with leading companies expected to achieve stable long-term growth due to their cost advantages [8]