Core Viewpoint - The total amount of fund dividends has reached 141.5 billion yuan as of August 13, marking a significant increase of nearly 40% compared to the same period last year, with equity funds seeing a more than threefold increase in dividend payouts [1][2][3] Fund Dividend Growth - The dividend amount for equity funds has surged to 34.884 billion yuan, compared to only 10.2 billion yuan in the same period of 2024 [2][3] - Major equity ETFs such as Huatai-PB CSI 300 ETF, Huaxia CSI 300 ETF, and E Fund CSI 300 ETF have made substantial dividend distributions, with amounts of 8.394 billion yuan, 5.554 billion yuan, and 4.084 billion yuan respectively [2] Performance and Investor Experience - The strong performance of equity funds this year has provided a solid foundation for increased dividends, with some funds reporting returns exceeding 43% [3][5] - Fund companies are focusing on enhancing investor experience through increased dividends, which helps investors feel a sense of gain and encourages long-term investment [1][5] Mechanism Changes for Sustainability - Several funds have revised their profit distribution principles to enhance the sustainability of dividends, allowing for quarterly assessments of dividend eligibility [4] - New equity funds are also incorporating "quarterly dividends" clauses, ensuring regular profit distribution if certain conditions are met [4] Importance of Dividends - Increased dividend payouts are seen as a crucial measure to improve investor experience, providing stable cash flow and encouraging long-term investment strategies [5] - Dividends help investors lock in profits and meet their need for stable returns, while also improving fund management efficiency by reducing tracking errors [5]

深圳上市公司经营业绩表现不俗。数据显示，深圳上市公司2024年实现营业收入、净利润分别超6.8万 亿元、4800亿元，均居全国大中城市第二。其中，电子、汽车、医药生物等行业市值排名全国大中城市 第一。 今年是深圳经济特区建立45周年。作为改革开放的窗口，深圳的金融和科技创新一直走在时代的前列， 为资本市场提供了众多优质上市公司。深圳证监局数据显示，截至今年上半年，深圳共有425家A股公 司、159家境外上市公司，均位居全国大中城市第三。作为金融行业的重要支柱，深圳证券基金行业经 营业绩位居全国前列，截至今年上半年，辖区券商总资产已突破3.3万亿元，总资产、营业收入长期居 全国第一，公募基金、期货公司收入利润长期居全国前三。 上市公司实力雄厚 自沪深交易所于上世纪90年代初成立以来，深圳上市公司数量飞速增长。深圳证监局数据显示，截至今 年6月底，深圳共有A股上市公司425家，市值10.39万亿元，分别居全国大中城市第三、第二位。 深圳公募基金行业位居全国前列。截至今年6月底，深圳拥有31家公募基金公司，占全国总数约两成。 截至6月底，辖区公募基金管理公司总资产964.28亿元，净资产670.29亿元。深圳辖区公 ...

据Wind资讯数据统计，截至8月13日，年内发布的债券指数已累计达207条，相较去年同期增长 39.86%。其中，信用债相关指数占比超六成，涵盖了不同信用等级、行业类型及发行主体的细分领 域，如中证指数于2月份发布的中证中高等级民企信用债指数便属于其中的典型代表；此外，利率债指 数同样保持稳定增长，在国债、地方政府债等品类上持续细化，为投资者提供了更丰富的低风险投资标 的参考。 值得注意的是，债券指数"上新"提速的同时，债券ETF产品也呈现出快速扩容的态势。数据显示，截至 8月13日，市场上共有债券ETF产品39只，其中仅今年成立的产品就有18只，占比达46.15%。这一数据 直观展现了债券ETF产品扩容力度，与债券指数的"上新"形成了紧密的联动。 进一步来看，债券ETF数量显著增长的同时，在种类上也实现了多维度拓展——2月份，首批基准做市 信用债ETF上市；7月份，首批科创债ETF上市。这些新品类的推出，既是对债券指数细分趋势的积极 响应，也进一步拓宽了投资者的选择范围，让债券ETF在服务实体经济和满足投资需求方面发挥了更广 泛的作用。 正如富国基金固定收益投资部基金经理张洋对《证券日报》记者表示，科创债E ...

（2）主动管理策略 主动管理策略通常需要投资者根据市场环境和经济周期的变化，战术性调整投资组合，比如调整所持有 的ETF资产的比例。例如，在牛市期间，投资者可以增加股票类ETF的权重；而在熊市期间，投资者可 以增加债券类或黄金类ETF的权重，以减小风险。 选自深圳证券交易所基金管理部编著的《深交所ETF投资问答》（中国财政经济出版社2024年版） 在ETF投资领域，投资者可以采用多种策略来提高收益，包括投资指数增强型ETF、主动管理策略等。 （1）投资指数增强型ETF 指数增强型ETF是一种在追踪基准指数的同时，尝试获取超额收益的投资产品。它们通常会采用定量模 型，如基于动量、价值、质量等因子的策略，来选取具有超额收益潜力的证券。与传统的被动型ETF相 比，指数增强型ETF的投资组合通常更具灵活性，而且在一定程度上可以提高收益。 目前国内已经上市了多个增强ETF，覆盖了我国的主要宽基指数，包括沪深300指数、中证500指数、中 证1000指数、创业板指数等。投资者在选择这类产品时，可以关注基金公司的指数增强实力和产品增强 效果，综合判断基金管理人是否具备稳定的超额收益能力。 （文章来源：证券日报） ...

Group 1 - Southern Fund announced an investment of no less than 230 million yuan in its products, including Southern CSI A500 ETF and Southern S&P China A-share Large Cap Dividend Low Volatility ETF, with a holding period of at least one year [1] - This marks the second public fund this year to conduct a single round of self-purchase exceeding 100 million yuan [1] - In April, Jianxin Fund also announced an investment of no less than 180 million yuan in its equity public fund products [3] Group 2 - Multiple public funds have joined the self-purchase of equity products in the second half of the year, with ICBC Credit Suisse Fund and Taikang Fund also announcing their respective investments [3] - As of August 12, the net subscription amount for public fund self-purchases in equity products has exceeded 2.7 billion yuan this year [3] - Leading funds in net subscription amounts include Tianhong Fund, ICBC Credit Suisse Fund, Huatai-PB Fund, and Guotai Fund [3] Group 3 - The top 10 public fund self-purchase amounts for equity products show significant investments from Tianhong Fund, with the highest being 1.39999 billion yuan in Tianhong Hang Seng Shanghai-Shenzhen Hong Kong Innovative Drug Selection 50 ETF [4] - Other notable funds include ICBC Modern Service Industry Fund and Tianhong Cultural Emerging Industry Fund, with net subscription amounts of 999.90 million yuan and 1 billion yuan respectively [4] - The collective self-purchase by public funds reflects confidence in their products and is influenced by supportive policies [5]

Group 1 - The recent trend of performance-oriented funds implementing purchase limits is driven by three main considerations [1][2] - The first consideration is to protect the interests of existing investors, as seen in the case of the China Europe Medical Innovation Equity Fund, which has seen a net value growth rate exceeding 60% in the past six months and over 80% in the past year [1] - The second consideration addresses the "volatility-performance-scale" dilemma, where rapid growth in fund size can lead to performance decline, prompting fund managers to limit purchases to maximize long-term returns for investors [1][2] Group 2 - The third consideration is the proactive adaptation to new regulatory guidelines aimed at promoting long-term investment returns, shifting the focus from size to investor returns [2] - The recent regulatory changes emphasize the importance of fund companies prioritizing investor interests, which has led to the normalization of purchase limits as a management strategy for quality funds [2] - Investors are encouraged to analyze and respond rationally to purchase limits, distinguishing between "true limits" and "false limits" to avoid short-term inconveniences affecting long-term gains [2]

写在文章前的声明：在本文之前的说明：本文中所列的投资信息，只是一个对基金资产净值进行排行的客观描述，并无主观倾向性，也不是投资建议，纯属 娱乐性质。 一顿操作猛如虎，目前已有28371只基金更新净值，谁是基金中的王者，谁又垫底，请看数据： | 排名 | 代码 | 基金简称 | 2025-08-13 | | 2025-08-12 | | EM = G | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 单位净值3 | 累计净值8 | 单位净值8 | 累计净值3 | | | 1 | 016370 | 信澳业绩驱动混合A | 1.2010 | 1.2010 | 1.1021 | 1.1021 | 0.09 | | 2 | 016371 | 信澳业绩驱动混合C | 1.1796 | 1.1796 | 1.0825 | 1.0825 | 0.09 | | 3 | 022364 | 永赢科技智选混合发起A | 2.4925 | 2.4925 | 2.3058 | 2.3058 | 0.18 | | 4 | 022365 | 永赢科技智选混合发起C | 2 ...

Core Viewpoint - The article discusses strategies for investors to exit the market during a bull run while preserving profits and managing risks effectively [2][5]. Group 1: Exit Strategies - Gradual profit-taking method: Investors should set a safety line for their principal (e.g., recover principal when total assets reach 130% of the principal) and have profit targets (e.g., sell in batches when profits reach 50% or 100%) [3]. - Technical signal assistance: Investors should monitor key moving averages and chart patterns (e.g., M-top, head and shoulders) to identify potential market tops [3]. - Emotional indicators: Increased public discussion about the stock market and extreme optimism in broker reports can signal a market top [3]. Group 2: Options Hedging Strategies - Options can provide a form of insurance against market downturns, allowing investors to maintain exposure while limiting losses [4][14]. - The use of synthetic long positions (buying calls and selling puts) can help mitigate risks associated with ETF options trading [4]. - The debate exists regarding the effectiveness of options in slow-moving markets, where premium decay can significantly impact returns [4]. Group 3: Market Top Characteristics - Policy signals such as regulatory crackdowns and changes in monetary policy can indicate a market top [4]. - Large-scale selling by institutional investors and rising government bond yields are also warning signs [4]. - Structural performance issues, such as stagnation in brokerage stocks and a lack of broad market participation, can signal caution [4]. Group 4: Investor Sentiment Management - Common pitfalls include attempting to perfectly time the market top and the dangers of premature exits [5]. - Discipline is crucial; investors should wait for the right moment to re-enter the market after exiting [5]. - Acknowledging that profits can be made without trying to catch every market movement is essential for long-term success [5]. Group 5: Additional Strategies - Transitioning to defensive stocks and short-term bond funds can help lock in profits during uncertain market conditions [5]. - Preparing for extreme scenarios and maintaining a cautious approach can safeguard against potential downturns [5]. - The importance of having a clear trading plan and executing it rigorously is emphasized [5].

Core Viewpoint - The article highlights the strong performance of the GF Quantitative Multi-Factor Mixed Fund (005225), which has achieved a cumulative return of 109.93% since its inception on March 21, 2018, significantly outperforming its benchmark across various time frames [1]. Group 1: Fund Performance - The GF Quantitative Multi-Factor Fund has a high equity position of 91.75%, with a diversified portfolio that includes six stocks with a total market capitalization below 10 billion, accounting for 8.35% of the fund's net asset value [2]. - Over the past year, the GF Quantitative Multi-Factor Fund has outperformed the National Securities 2000 Index by 30 percentage points, achieving a return of 54.33% compared to the index's performance [2]. - The fund's monthly win rate against the National Securities 2000 Index is 81%, with an average monthly excess return of 1.20% since the current fund managers took over [3]. Group 2: Investment Strategy - The fund employs a dual-engine model combining traditional quantitative multi-factor models with advanced machine learning techniques to enhance factor discovery and integration [4][5]. - The fund managers utilize AI tools to identify hidden pricing patterns and improve the efficiency of alpha factor extraction, addressing the limitations of traditional models [5]. Group 3: Other Quantitative Funds - The article also discusses other quantitative funds under GF, such as the GF Multi-Factor Mixed Fund (002943), which has consistently outperformed major indices over the past seven years [6][7]. - GF has a diverse range of quantitative products, including Smart Beta strategies, which focus on small-cap style enhancement [7]. Group 4: Dividend and Value Strategies - The GF Stable Strategy Fund (006780) employs a combination of subjective and quantitative approaches to capture dividend opportunities, achieving a return of 25.93% in 2024, outperforming the benchmark by 7.17% [10]. - The GF High Dividend Preferred Fund (008704) focuses on high-dividend, low-valuation stocks, achieving a year-to-date return of 12.10%, significantly surpassing the performance of the benchmark indices [14][15].

凤凰网财经正在寻觅一位有着丰富行业经验和深厚专业知识的金融编辑（基金方向），与我们一同深耕 基金领域，共创优质财经内容。 在这里，你将负责这些重要工作 ·具备 2 年以上 财经媒体或金融（基金）行业从业经验，熟悉基金行业运作模式和相关知识。 ·拥有较强的抗压能力，能从容应对高强度的工作节奏，并且有意愿、有决心在基金行业深耕细作，不 断提升自我。 ·如果你有10W + 的代表作，那将是你的加分项，我们热切期待看到你用文字创造的影响力。 加入我们，你将与一群热爱财经、专业严谨的伙伴共事，在凤凰网财经这个广阔的平台上，接触最前沿 的行业资讯，积累丰富的人脉资源，不断提升自己的专业素养和业务能力。这里有完善的福利体系、具 有竞争力的薪酬待遇，更有无限的发展空间等着你去探索。 如果你对这个岗位感兴趣，且符合我们的要求，我们希望收到你的简历，让我们看到你的才华与潜力。 凤凰网财经期待你的加入！ ☞简历请发送：zenggj@ifeng.com ·独立解读基金财报、上市公司财报，从繁杂的数据中提炼关键信息，撰写专业、易懂的稿件，让有价 值的内容触达更多用户。 ·时刻紧盯行业动态，快速跟进行业热点事件，以独特的视角和敏锐的洞察 ...