Core Viewpoint - The global market showed significant divergence last week, with A-shares continuing to rebound while US, Japanese, and Vietnamese markets experienced declines. Bonds remained stable, and gold emerged as a strong safe-haven asset, highlighting the advantages of a global allocation strategy that seeks steady progress amidst short-term volatility [1][2][3]. Market Performance Summary - A-shares (CSI 300) increased by 0.90%, while the Hang Seng Index rose by 1.88%. In contrast, the US Nasdaq 100 fell by 1.39%, Japan's Nikkei 225 dropped by 2.86%, and Vietnam's Ho Chi Minh Index decreased by 2.25%. The overall bond market remained stable, with Chinese bonds nearly flat and US bonds experiencing a slight decline. Gold prices rose approximately 1.6%, marking it as one of the few standout assets [1][2]. Global Allocation Strategy - The global allocation strategy demonstrated resilience, with a year-to-date cumulative return of 19.43%, achieving positive growth for the third consecutive year. The returns for 2023 and 2024 are projected at 13.13% and 7.87%, respectively, showcasing the compounding advantages of global allocation [6]. Balanced Investment Approach - The "Lazy Balanced" investment strategy yielded a return of 14.01% this year, exhibiting smoother performance and stronger resistance to volatility compared to last year's 5.13% return. The bond component, despite a brief decline, quickly recovered, providing a reliable foundation for the portfolio [10]. Investment Combinations - The company launched five investment combinations this week, reflecting a strategic approach to market conditions. The "Lazy Balanced" combination currently has an equity position of around 57%, allowing for sufficient capacity to capitalize on potential market corrections [16][19].

文|天峰 来源|财富独角兽 2025年以来沪深股指走出强劲上行态势，市场整体呈现"慢牛"震荡攀升格局。上证指数年内涨幅超17%，一举突破4000点整数关口，创下10年来新高。深 证成指上涨近28%，创业板指和科创综指更是成为领涨先锋，累计涨幅均接近50%。 伴随股指大幅走强，权益类基金业绩迎来强势回升，赚钱效应显著回归。截至10月底，主动权益基金前10月平均净值增长率达27.48%,其中34只产品业绩 翻倍，最牛基金收益率超200%。笔者发现，平安基金旗下经理黄维的产品业绩优异，其中平安睿享文娱混合A/C,任职回报高达290.91%、263.97%。 01 技术背景赋能产业洞察 投资哲学：价值与成长的辩证统一 据天天基金网显示，黄维毕业于北京大学微电子学与固体电子学硕士,2010年加入广发证券,历任广发证券发展研究中心电子行业研究员、广发证券资产管 理(广东)有限公司TMT行业研究员、广发证券资产管理(广东)有限公司理财5号投资经理助理,2016年5月加入平安基金管理有限公司。 目前管理基金多达7只基金，累计任职时间9年又83天，现任基金资产总规模37.82亿元，在管基金最佳任期回报281.87%。也正是凭借 ...

一批成长风格的主动权益基金罕见地集中分红。 11月12日，易方达基金发布旗下易方达科讯等基金年内首次分红的公告，投资者可选择红利再投资或者 现金分红等方式。此外，万家、国海富兰克林、安信基金等公募也在近期宣布旗下部分主动权益基金年 内首次分红。其中，部分成长风格的主动权益基金是近几年来首次进行分红。 通常来说，债券型和指数型基金分红频率较高。同时，多只主动权益基金的上一次分红恰好落在大盘阶 段高点，因此备受市场关注。 分析人士向《国际金融报》记者表示，成长风格主动权益基金的分红，更多依赖于基金经理通过卖出股 票所实现的价差收益，以往并不常见。也有业内人士提醒，部分科技股估值已高，科技板块"贵溢价"特 征显著，分红或暗含"落袋"之意。 久旱逢霖 近日，易方达基金旗下多只主动权益基金宣布年内首次分红，包括易方达科讯、易方达科翔、易方达科 汇、易方达平稳增长等。其中，易方达科讯距上次分红已隔近一年，而再往前一次则间隔三年；其余三 只基金距上次分红已时隔近四年。 上述近期分红的基金均为主动权益类型，且大部分主要投资科技等成长板块。数据显示，截至11月13 日，上述提及的部分基金年内积累了较高收益。比如，易方达科讯年内 ...

Core Viewpoint - The company, Huichuan Technology, has demonstrated strong growth in its general automation business, achieving approximately 13.1 billion yuan in revenue for the first three quarters of 2025, representing a year-on-year increase of 20% driven by opportunities in high-demand sectors such as new energy vehicles and logistics equipment [1][2]. Group 1: Business Performance - The general automation business has seen significant growth due to capturing opportunities in high-demand sectors, optimizing resource allocation, and implementing a multi-product sales strategy [1]. - The company’s automation business has a strong market share in servo systems, frequency converters, small PLC products, and industrial robots, with plans to enhance competitiveness through multi-product solutions and increased market penetration [2]. Group 2: International Strategy - The company is focusing on internationalization as a key strategic direction, utilizing "industry line going abroad" and "borrowing boats to go abroad" strategies to expand its global presence [3]. - Future international growth is expected to be concentrated in Europe and emerging markets, with ongoing efforts to identify suitable acquisition targets in Europe to accelerate overseas expansion [4]. Group 3: Energy Storage and Robotics - The company is currently engaged in large-scale energy storage projects and aims to develop digital energy management solutions for enterprises, integrating digitalization and automation for comprehensive energy management [4]. - In the humanoid robot sector, the company is focusing on core components such as drives and motors, planetary roller screws, and linear modules, which are expected to have strong market potential as the industry evolves [4].

但沪指却强势翻红，而且上涨个股数量一度超过3000只。上午10点半左右，沪指续创十年新高。SPD、 海南自贸港、光伏涨幅居前，医药、燃气板块强势上涨，银行股反弹，农业银行、工商银行再创新高。 A50也一度翻红。 牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 相对于外围走势，A股表现相对强劲！ 早盘，A股股指全线低开，但随后展开大反攻。上午十点半左右，沪指转涨，万得微盘股指数涨超1%， 中证2000指数、北证50指数转涨。银行股再度走强，工商银行、农业银行股价再创新高，A50也一度翻 红。 花旗CEO兼董事长表示，投资者对中国市场表现出浓厚的兴趣。高盛更是突然发布观点称，中国的力量推 动使其在人工智能竞赛中比美国更具优势。近日，外商独资公募富达基金发生工商变更，注册资本由1.82 亿美元增至2亿美元，显示出外资对中国资本市场的长期信心。 A股比预期的强 外围全线杀跌，A股亦大幅低开。但随后的走势显著强于预期，也明显强于外围市场。截至早盘收盘，日 经225指数跌1.7%，东证指数跌0.8%。韩国股指更是跌超2%，澳大利亚股指跌超1.3%。 花旗CE ...

Core Viewpoint - The Hong Kong stock market is experiencing a pullback, with investors shifting towards dividend-paying stocks due to profit-taking in the technology sector and a preference for lower-risk assets [1][2] Fund Flows and Preferences - Southbound funds are increasingly allocating to Hong Kong dividend stocks, with the banking sector being the most favored over the past month, followed by oil and petrochemicals, and non-bank financials [1] - The Hong Kong Dividend ETF (513530) has seen continuous net inflows for 11 trading days since October 30, 2025, accumulating a total of 374 million yuan [1] Dividend Yield and Performance - The Hong Kong Dividend ETFs (513530 and 520890) have attractive dividend yields of 5.46% and 5.65%, significantly higher than the 1.81% yield of 10-year government bonds, making them appealing in a low-interest-rate environment [2] - Over the past year, the cumulative returns for these ETFs have been 36.97% and 40.71%, outperforming major A-share dividend indices and the Hang Seng Technology Index [2] Shareholder Returns and Dividend Capability - Hong Kong-listed companies exhibit a strong willingness to distribute dividends, with average declared dividends for the first half of 2025 being 23.129 billion yuan and 12.899 billion yuan for the respective indices, surpassing A-share indices [3] - The Hong Kong Dividend ETF (513530) is the first ETF in the A-share market to invest in the Hong Kong high dividend index through the QDII model, potentially reducing dividend tax costs for long-term holders [3] Management and Experience - The management of the Hong Kong Dividend ETFs, Huatai-PB Fund, has over 18 years of experience in index investment and has been proactive in the dividend ETF sector since 2006 [4] - As of November 13, 2025, the total management scale of Huatai-PB's dividend-themed ETFs reached 47.879 billion yuan [4]

Core Viewpoint - The ETF market showed mixed performance on November 14, with oil and gas ETFs experiencing gains while technology-focused ETFs faced declines [1] Group 1: ETF Performance - Oil and gas resource ETF (563150) increased by 2.04% [1] - Oil and gas ETF Bosera (561760) rose by 1.75% [1] - Oil and gas resource ETF (159309) saw a gain of 1.51% [1] - Hang Seng Internet ETF (159688) decreased by 3.05% [1] - Hang Seng Internet Technology ETF (159202) fell by 3.04% [1] - Brazil ETF (159100) dropped by 2.88% [1]

11月14日，市场早盘震荡分化，沪指震荡拉升一度翻红，创业板指盘中跌超2%。截至午盘收盘，沪指 跌0.16%，深成指跌1.1%，创业板指跌1.74%。沪深两市半日成交额1.23万亿元，较上个交易日缩量257 亿元。 相关ETF方面，截至午盘收盘，港股通央企红利ETF天弘（159281）成交额超1600万元，换手率 7.12%，盘中交投活跃。 资金流向方面，该ETF昨日（11月13日）"吸金"超1600万元，已连续3个交易日（11月11-13日）获资金 净流入。 此外，红利低波ETF天弘（159549）实时净申购3000万份，该ETF近20日有17日获资金净流入，累 计"吸金"超4亿元。 港股通央企红利ETF天弘（159281）紧密跟踪港股通央企红利指数（931233），重点覆盖金融、能源、 公用事业、交运等现金流稳健板块。 红利低波ETF天弘（159549）紧密跟踪中证红利低波动100指数，该指数从沪深A股中选取100只流动性 好、连续分红、股息率高且波动率低的股票作为指数样本股，采用股息率/波动率加权，以反映A股市场 股息率高且波动率低的股票整体表现。 消息面上，据21世纪经济报道，港股市场迎来一个里程碑时 ...

每经AI快讯，天眼查工商信息显示，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， 执行事务合伙人为河南投资集团汇融基金管理有限公司，出资额10亿元人民币，经营范围为以私募基金 从事股权投资、投资管理、资产管理等活动，创业投资。合伙人信息显示，该基金由河南投资集团汇融 基金管理有限公司、郑州产投股权投资引导基金合伙企业(有限合伙)、河南省战略新兴产业投资基金有 限公司等共同出资。 ...

中证网讯 本周以来，国际金价再度走强。Wind数据显示，截至11月14日早盘，伦敦黄金现货价格运行 于4200美元/盎司附近的近期高位。在黄金ETF方面，Wind数据显示，截至11月13日，黄金ETF基金 （518660）最新规模达58.91亿元；场内流通份额达6.42亿份，较年初时的基金份额大幅增长277.18%； 在资金流入方面，该基金近9个交易日连续获得资金净流入，合计"吸金"3.53亿元；费率方面，黄金ETF 基金（518660）当前管理费率、托管费率分别为0.15%、0.05%，为全市场费率最低一档的黄金ETF。 场外投资者可通过黄金ETF基金（518660）的相关联接基金（A：008142；C：008143；E：020341）参 与黄金投资，其管理费率加托管费率也仅为0.2%，同为全市场费率最低一档的黄金ETF联接基金；其 中，工银黄金ETF联接E份额持有7天（含）以上免赎回费。一键配置黄金股相关投资机遇，还可关注黄 金股ETF基金（159315）。（王辉） 黄金作为典型的非生息资产，较低的管理费和托管费能有效减少持有成本。工银瑞信基金表示，经过近 期黄金增值税政策调整、美国9月非农数据超市场预期 ...