Group 1 - The article discusses the increasing market volatility as the Shanghai Composite Index surpasses 4000 points, suggesting that investors who are cautious yet do not want to miss out on opportunities should consider "fixed income plus" funds represented by secondary bond funds [1] - Secondary bond funds aim for a "dual investment" strategy, allocating at least 80% of their assets to the bond market for stability while investing up to 20% in equities and convertible bonds for growth potential [2][4] - Historical performance data shows that from 2015 to 2024, the mixed bond secondary index has been relatively stable, with 7 out of 10 years showing gains, and only minor declines in 2016, 2022, and 2023, which were significantly less than the declines in the CSI 800 index [4][5] Group 2 - The Changcheng Fengze Bond Fund is highlighted as a typical secondary bond fund suitable for investors seeking stable asset allocation [8] - Zhang Lin, the proposed fund manager, has extensive experience in multi-asset allocation and has managed various types of bond funds since 2017, focusing on macro rates, credit bonds, convertible bonds, and equities [9] - The fund's strategy emphasizes low volatility, with a historical asset allocation that keeps stock and convertible bond investments below 32% of net assets, ensuring a stable income base [11][19] Group 3 - The article emphasizes the importance of a strong research team behind secondary bond funds, with Changcheng Fund establishing a cross-departmental collaboration for comprehensive research and strategy development [20] - The fund's research team focuses on various strategies for convertible bonds, adapting to market conditions and ensuring actionable investment strategies [20] - Recent performance data indicates that Changcheng Fund's fixed income products rank in the top 20% for returns over the past one, two, and three years, reflecting the effectiveness of their investment strategies [21]

为积极响应中国证券投资基金业协会 "一司一省一高校" 活动号召，长城基金持续践行普惠金融理念， 将该专项投教活动延伸至多元场景。近日，长城基金投教栏目"投资小宏书" 走进深圳福田CBD商圈夜 校，为职场青年群体带来 "宏观新格局，投资新机遇" 主题分享课，以易懂实用的金融知识赋能青年投 资认知提升，切实履行投资者教育责任。 MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 在公募基金高质量发展的新时代，加强投资者教育、做好投资者陪伴已成为构建成熟健康行业生态圈的 关键一环。长城基金积极构建多元化、立体化的投教矩阵，除"投资小宏书"外，近年还陆续推出 "城大 事小课堂"（聚焦基础金融知识科普）、"长城行业调研团"（带投资者深入产业一线）、"财商下 乡"（面向乡镇群体普及金融风险防范）等一系列IP，实现从高校学生、职场青年到乡镇群众的广泛人 群覆盖，真正让普惠金融落到实处。 未来，长城基金将继续以投资者为中心，持续深化普惠金融实践，不断进化升级投教内容体系与传播形 式，致力于以更有温度、更长效的陪伴服务，助力广大投资者树立长期投资、价值投资理念，为构建健 康成熟的资本市场生态注入公募力量。 本 ...

另一方面，大成基金的权益投资较为依赖徐彦、刘旭、韩创三位基金经理，截至11月13日，三人合计在 管规模达642.81亿元，撑起公司权益类基金（股票型+混合型）总规模的半壁江山，约占55%。 然而，截至三季度末，徐彦在管产品收益全部跑输同期基准，其中今年3月成立的大成兴远启航直到10 月底才确认完成建仓，被投资人吐槽踏空"牛市"行情；刘旭、韩创旗下所管理的权益产品配置上则集中 于价值股或大盘股。 简历显示，魏庆国北京大学经济学硕士出身，14年证券从业经验，2013年5月便加入大成基金，并于 2015年开始单独管理基金。曾任研究部研究员，股票投资部基金经理、总监助理，现任权益专户投资部 总监助理。 作者 | 谢美浴 编辑 | 付影 来源 | 独角金融 作为"老十家"公募之一，权益投资曾是大成基金管理有限公司（以下简称"大成基金"）亮眼的标签，如 今却陷入多重考验。 一方面，昔日百亿基金经理魏庆国年内被5次"内部调整"，最近两次是11月4日、11月6日，先后被免去 大成行业先锋、大成中小盘基金经理职务，且明确不转任大成基金其他工作岗位。至此，魏庆国已卸下 所有在管产品，此举被市场普遍解读为优化或解聘。 Wind数据 ...

Group 1 - The core viewpoint is that A-shares and Hong Kong stocks are entering a "new four bulls" phase driven by capital inflow, technological innovation, institutional reform, and consumption upgrade, with a gradual upward trend expected through 2026 [2] - The "new four bulls" market is anticipated to focus on themes such as technological self-reliance, industrial upgrading, and resource security, with opportunities identified in AI, semiconductors, computers, primary products, small metals, new energy, high-end manufacturing, humanoid robots, and low-altitude economy [2] - The A-share market is seeing a significant capital inflow into the defense and military industry, with a net inflow of 8.46 billion yuan [2] Group 2 - The A50 ETF, A100 ETF, and A500 ETF are highlighted as key investment vehicles for investors looking to gain exposure to China's market, tracking major indices [2] - The overall market performance shows a decline, with the Shanghai Composite Index down by 0.97% and the Shenzhen Component Index down by 1.93% on the same day [1] - The total trading volume across both markets was 1.96 trillion yuan, reflecting a decrease of 839 billion yuan compared to the previous day [1]

中国母基金行业一周资讯（ 11 . 8 - 11 . 1 4 ） 【资讯解读】 本周资讯涉及的母基金管理规模达 6 6 0 . 5 亿元，主要分布在 上海、广东、浙江、湖北、江 苏、江西、河南、广西 等地区，投资覆盖 人工智能、新材料、高端装备产业等 。以下是内容 提要和具体资讯。 【内容提要】 01 广西： 这支省级人工智能母基金招GP了 1、广西：这支省级人工智能母基金招GP了 2、全国： 国家中小企业发展基金二期的设立方案 获批 3、湖北： 咸宁长证高新产业投资基金 招 GP 4、江苏： 南京溧水产业发展基金 招 GP 5、浙江： 温州海经区科创基金 招 GP 6、江苏： 徐州新兴产业专项母基金成立 7、广东： 东莞双母基金重磅落地 8、江西： 黎川基金 、 井冈山基金成功备案 9、河南： 河南汇融人工智能产业投资基金 落地 1 0、上海： 上海国投与联想集团合作发起 设立 联想上海基金 11、江苏： 江苏南通高端装备产业专项母基金拟合作子基金公示 1 2、江苏： 苏州人工智能产业专项母基金拟投子基金对外公示 1 3、上海： 《上海青浦发展创业投资引导基金管理办法》 发布 中信投资控股有限公司全资子公司 ...

Core Viewpoint - The article discusses the resignation of Deng Haiqing from the position of Deputy General Manager at AVIC Fund due to personal reasons, and his potential transition to a larger public fund platform, Zhongjia Fund, which aligns with his macro research background [1][2][4]. Group 1: Management Changes - Deng Haiqing resigned as Deputy General Manager of AVIC Fund on November 13, 2023, and will not take on any other roles within the company [1][2]. - Deng Haiqing has a diverse career background, having worked at various financial institutions, including Guojin Securities and Ant Financial Research Institute, before joining AVIC Fund in December 2020 [2][3]. Group 2: Fund Management and Performance - During his tenure, Deng Haiqing managed the AVIC Mixed Reform Selected Fund, which saw a significant shift in its portfolio towards real estate, with 90% of holdings concentrated in this sector by the end of 2023 [3][4]. - The fund's performance under Deng Haiqing was subpar, with a return of -13.45% over nearly one and a half years, ranking in the bottom 10% among similar funds [4]. Group 3: Future Outlook - Deng Haiqing has expressed optimism about the A-share market, citing potential improvements in profitability across multiple sectors supported by policy changes [4]. - He has highlighted investment opportunities in artificial intelligence and its infrastructure, suggesting that these areas could drive significant economic growth and demand [4][5].

Market Overview - The Shanghai Composite Index fell 0.97% to close at 3990.49 points, the Shenzhen Component Index dropped 1.93% to 13216.03 points, and the ChiNext Index declined 2.82% to 3111.51 points. The total trading volume of A-shares in the two markets was 1980.5 billion yuan. The top-performing sectors were the comprehensive sector (1.58%), real estate (0.39%), and banking (0.26%), while the worst-performing sectors were electronics (-3.09%), communication (-2.46%), and media (-2.16%) [2][6]. Stock ETF - The top-traded stock ETFs today were Huaxia CSI A500 ETF, which fell 1.52% with a premium rate of -1.53%; Cathay CSI A500 ETF, which dropped 1.42% with a premium rate of -1.47%; and Huatai-PineBridge CSI A500 ETF, which declined 1.59% with a premium rate of -1.62% [3][7]. - The top ten stock ETFs by trading volume are presented in Chart 1, including details such as price, change rate, tracking index, and premium rate [8]. Bond ETF - The top-traded bond ETFs today were Haifutong CSI Short-Term Bond ETF, which rose 0.01% with a premium rate of 0.01%; China Merchants CSI AAA Technology Innovation Corporate Bond ETF, which increased 0.03% with a premium rate of -0.33%; and Bank of China Shanghai Stock Exchange AAA Sci-Tech Innovation Bond ETF, which fell 0.04% with a premium rate of -0.23% [4][9]. - The top five bond ETFs by trading volume are shown in Chart 2, including information on price, change rate, premium rate, and trading volume [10]. Gold ETF - Today, the price of gold AU9999 fell 1.16%, and the Shanghai Gold price dropped 0.80%. The top-traded gold ETFs were Huaan Gold ETF, which fell 0.86% with a premium rate of -0.83%; Boshi Gold ETF, which declined 0.80% with a premium rate of -0.81%; and E Fund Gold ETF, which dropped 0.81% with a premium rate of -0.82% [12]. - The details of the top five gold ETFs by trading volume, including price, change rate, trading volume, and premium rate, are provided in a table [13]. Commodity Futures ETF - Today, Huaxia Feed Soybean Meal Futures ETF rose 0.91% with a premium rate of 1.55%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.73% with a premium rate of -0.28%; and Dacheng Nonferrous Metals Futures ETF declined 1.09% with a premium rate of -0.88% [13][14]. - The details of the top three commodity futures ETFs by trading volume, including price, change rate, trading volume, and premium rate, are presented in Chart 4 [14]. Cross-Border ETF - The previous trading day, the Dow Jones Industrial Average fell 1.65%, the Nasdaq Composite dropped 2.29%, the S&P 500 declined 1.66%, and the German DAX fell 1.39%. Today, the Hang Seng Index fell 1.85%, and the Hang Seng China Enterprises Index dropped 2.09%. The top-traded cross-border ETFs today were GF CSI Hong Kong Innovative Drug ETF, which fell 1.06% with a premium rate of -0.84%; E Fund CSI Hong Kong Securities Investment Theme ETF, which dropped 2.60% with a premium rate of -2.67%; and Huatai-PineBridge Hang Seng Tech ETF, which declined 2.89% with a premium rate of -2.23% [15]. - The top five cross-border ETFs by trading volume are shown in Chart 5, including information on trading volume, change rate, and premium rate [16]. Money Market ETF - The top-traded money market ETFs today were Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Jian Xin Tian Yi Money Market ETF [17][19]. - The top three money market ETFs by trading volume are presented in Chart 6, including information on trading volume [19].

招商局中国基金(00133)发布公告，于2025年10月31日的未经审计每股资产净值为5.609美元(43.60港 元)。 ...

人民财讯11月14日电，企查查APP显示，近日，河南汇融人工智能产业投资基金合伙企业(有限合伙)成 立，出资额10亿元，经营范围包含：以私募基金从事股权投资、投资管理、资产管理等活动。企查查股 权穿透显示，该企业由河南投资集团汇融基金管理有限公司等共同出资。 ...

Core Viewpoint - The recent fluctuations in COMEX gold futures prices reflect a complex interplay of economic factors, including the end of the U.S. government shutdown and hawkish comments from the Federal Reserve, which have influenced market sentiment and gold's resilience [1] Market Performance - As of the close of A-shares, COMEX gold futures traded around $4180 per ounce, showing a recovery after initially surpassing the $4200 mark [1] - The China Gold ETF (518850) declined by 0.82%, while the Non-ferrous Metals ETF (516650) fell by 1.98%, and the Gold Stocks ETF (159562) decreased by 1.97% [1] Fund Flows - The China Gold ETF (518850) has seen continuous net inflows over the past 11 days, totaling 539 million yuan, with the latest share count reaching 980 million and a total scale of 9.047 billion yuan, both marking all-time highs since inception [1] Economic Context - The end of the U.S. government shutdown and the trade truce have not restored the U.S. economy to normalcy; instead, they may lead to a backlog of data reflecting previous economic impacts [1] - The absence of monthly employment and inflation data has made Federal Reserve officials' statements the primary source of market guidance, amplifying market sentiment based on policy language [1] Price Outlook - The anticipated volatility in expectations may exacerbate the weakness of the dollar, suggesting that gold prices may find support in the medium term [1]