以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 | 分级基金简称 | 代码 | 是否暂停（大额）申购 (转入转出、赎回、定投) | 申购限额 转入限额 定投限额 (元) (元) | (元) | | --- | --- | --- | --- | --- | | 易方达全球医药行业混 | 008284 | 를 | | | | 合(QDII)A | | | | | | 易方达全球医药行业混 | 019035 | 를 | | | | 合(QDII)C | | | | | 证券之星消息，8月27日易方达基金管理有限公司发布《易方达全球医药行业混合型发起式证券投资基 金2025年9月1日暂停申购、赎回及定期定额投资业务的公告》。公告中提示，为2025年9月1日为纳斯达 克证券交易所和纽约证券交易所非交易日，自2025年9月1日起易方达全球医药行业混合型发起式证券投 资基金2025年9月1日暂停申购、赎回及定期定额投资业务，下属分级基金调整明细如下： ...

证券之星消息，8月27日安信基金管理有限责任公司发布《关于暂停安信睿见优选混合型证券投资基金 A类份额大额申购、大额转换转入及大额定期定额投资业务的公告》。公告中提示，为保护基金份额持 有人的利益，自2025年8月28日起暂停安信睿见优选混合型证券投资基金A类份额大额申购、大额转换 转入及大额定期定额投资业务，申购、转换转入上限金额为30.0万元，下属分级基金调整明细如下： 注:（1）安信睿见优选混合型证券投资基金（以下简称"本基金"）限制A类份额大额申购、大额转换转 入、大额定期定额投资金额为：不超过300,000元（含300,000元），C类份额大额申购、大额转换转 入、大额定期定额投资金额为：不超过1000元（含1000元）。 （2）申购、转换转入及定期定额投资的大额交易限制按照 A、C 两类份额单独判断。 （3）本基金A类份额大额申购、大额转换转入及大额定期定额申购交易申请，限制起始日为2025年8月 28日，需要注意的是2025年8月27日15：00后提交的基金交易申请将视为2025年8月28日的交易申请，同 样受上述限制。投资者成功提交申请的时间以安信基金管理有限责任公司（以下简称"本公司"）系统 ...

（2）本公告中暂停及恢复申购和定期定额投资业务仅针对本基金A类人民币份额。根据相关公告，本 基金A类人民币份额自2025年5月23日起暂停在全部销售机构的大额申购业务，单日单个基金账户在全 部销售机构累计申购（含定期定额投资）本基金A类人民币份额的金额不超过100元（含）。本基金A类 人民币份额恢复办理大额申购业务的具体时间将另行公告。 （3）根据相关公告，本基金自2020年3月25日起暂停C类人民币份额、A类美元份额、C类美元份额的 申购及定期定额投资业务，恢复办理申购及定期定额投资业务的时间将另行公告。 证券之星消息，8月27日易方达基金管理有限公司发布《易方达原油证券投资基金（QDII）2025年9月1 日暂停申购、赎回及定期定额投资业务的公告》。公告中提示，为2025年9月1日为纽约证券交易所非交 易日，自2025年9月1日起易方达原油证券投资基金（QDII）2025年9月1日暂停申购、赎回及定期定额 投资业务，下属分级基金调整明细如下： | 分级基金简称 | 代码 | 是否暂停（大额）申购 (转入转出、赎回、定投) | 申购限额 转入限额 定投限额 (元) (元) (元) | | --- | --- ...

我们之前也说过，基金在行情火热中限购，多是基于风险控制、投资者保护以及策略稳定性等方面考量，为保证基金的稳定运作而做出的提前应对。 特别是小微盘指增策略的产品，规模如果规模太大会导致策略钝化，所以限购更为严格。 数据看，中证2000对比上证50的比值近期来到一个高位，近期小盘有点过热了。 在流动性宽裕、小盘股活跃的环境下，量化基金今年来整体表现不错，不少小微盘策略的量化产品年内收益超过了40%。 当然，策略容量有限，随着净值上行，不少量化基金开启了限购。 华泰柏瑞中证2000指数增强近日公告，8月26日起将产品申购金额上限调为10万元，上一次限购到100万元也就8月13日的事情。截至周一，这只产品今年以 来回报超过47%，在同类中证2000增强产品领跑。 最近一只中证2000指增策略也加入了限购行列。 截至目前，已经有14只量化基金暂停申购，30只量化基金限制大额申购。 其实，小微盘策略之外，今年公募量化基金整体都不错。根据Wind统计，今年来有超过84%的公募量化基金业绩跑赢业绩比较基准、收获超额收益。 当前A股市场日均成交额持续维持在2万亿元以上高位，股票交投活跃为量化策略提供了较好的土壤。大家挑量化基金 ...

Market Overview - The market experienced fluctuations in the early session, with the ChiNext Index leading gains, and the CSI A500 Index rising by 0.97% [1] - CPO and other computing hardware stocks saw a collective surge, while chip stocks rebounded and rare earth permanent magnet concept stocks were active [1] - Real estate stocks underwent adjustments [1] ETF Performance - Multiple ETFs tracking the CSI A500 Index rose approximately 1%, with 15 ETFs exceeding a trading volume of 100 million yuan, and 3 surpassing 2.6 billion yuan [1] - The trading volumes for A500 ETFs were as follows: A500 ETF Fund at 4.13 billion yuan, A500 ETF Huatai Baichuan at 2.99 billion yuan, and A500 ETF Southern at 2.63 billion yuan [1][2] Investment Strategy - Some brokerages suggest maintaining an active market participation strategy in the short term, while being cautious of market style changes and sector rotation [1] - In the medium term, policies aimed at "anti-involution" and demand-side policies are expected to significantly influence the A-share market [1] - The influx of household savings into the market is anticipated to be a crucial support for the strengthening of market indices [1]

Core Insights - The total scale of ETFs has surpassed 5 trillion yuan for the first time, with over 100 products exceeding 1 billion yuan in size, marking a significant milestone in the ETF market [1][2][3] Group 1: ETF Market Growth - As of August 26, the total ETF market size reached 5.07 trillion yuan, with stock ETFs accounting for 3.46 trillion yuan (68.25%), cross-border ETFs at 753.72 billion yuan (14.86%), and bond ETFs at 555.90 billion yuan (10.96%) [2] - The number of ETFs with a scale exceeding 1 billion yuan has reached 101, with 7 of them exceeding 10 billion yuan, primarily driven by the CSI 300 ETFs [3] - The growth in ETF scale is attributed to a shift in investor behavior from stock picking to asset allocation, which helps stabilize market volatility and improve value discovery efficiency [5][6] Group 2: Investor Behavior and Market Dynamics - Investors are increasingly recognizing the benefits of passive and index-based investment strategies, leading to a more optimized investor structure [5] - The recent market trends and policy support, such as the "Action Plan for Promoting High-Quality Development of Index Investment," have further encouraged the growth of ETFs [5][6] - The total number of ETF shares has increased to 2.81 trillion, reflecting a 6.04% growth compared to the end of 2024, while the total scale has grown over 35% from 3.73 trillion yuan [5] Group 3: Future Outlook and Product Innovation - The ETF market is expected to continue evolving, with a focus on developing new products that cater to emerging investment opportunities and adapting existing ETFs to align with economic developments [8][9] - The expansion of asset classes covered by ETFs, including equities, bonds, and commodities, is anticipated to enhance the diversity and richness of ETF offerings [9] - The introduction of derivative tools like stock index futures and ETF options is expected to mature the ETF ecosystem, attracting more investors [9]

Group 1 - The core point of the news is the appointment of Li Haitao as the assistant general manager of Fengchao Fund, effective from August 22, 2025, highlighting the company's emphasis on fixed income business and professional talent [1][9] - Li Haitao has been with Fengchao Fund since its establishment and has become a key decision-maker, reflecting the company's strategic focus on solidifying its fixed income capabilities [1][9] - The company has seen significant growth, with total assets reaching 48.88 billion yuan by the end of the second quarter of 2025, indicating a robust development trajectory since its founding in May 2018 [6][8] Group 2 - Li Haitao's professional background includes roles at Guangfa Bank and Huafu Securities, showcasing a strong foundation in fixed income investment, which aligns with Fengchao Fund's "fixed income+" strategy [3][4][9] - Under Li's management, the fund has successfully managed eight funds with a total scale of 14.366 billion yuan, demonstrating his capability in driving the company's investment performance [4] - Fengchao Fund's fixed income team is recognized for its stability and expertise, ranking fourth in long-term active bond investment management capabilities over the past three years [8]

Group 1 - The core viewpoint indicates that the market is experiencing increased trading volume, with a total expected turnover of approximately 2.8 trillion yuan for the day, reflecting a rise of 401 billion yuan compared to the previous day [1] - The bond futures market is showing weakness, with the 30-year main contract down by 0.2% to 116.880 points, and other maturities also experiencing slight declines [1] - The 30-year bond ETF, Bosera (511130), is actively traded with a turnover exceeding 2 billion yuan and a net inflow of 890 million yuan over the past five days, highlighting its market attention [1] Group 2 - There is a high expectation for a Federal Reserve rate cut in September, which aligns with the ongoing trend of global liquidity easing [2] - The Bosera 30-year bond ETF, established in March 2024, tracks the "Shanghai 30-Year Government Bond Index" and is one of the few long-duration bond ETFs available, making it sensitive to interest rate changes [2] - The central bank's supportive stance remains unchanged despite seasonal funding pressures, indicating a potential for market stabilization and a rebalancing of liquidity between equity and bond markets [1][2]

从第一个万亿到第五个万亿，ETF历时从16年缩短至4个月，在本轮行情中持续受到资金青睐。 受访人士表示，市场对指数投资理念的接受度日趋提升，从热衷追逐个股、择时博弈逐步转向资产配置，这有助于平抑 市场非理性波动，提升价值发现效率。未来，随着股指期货、ETF期权等衍生品工具持续丰富，ETF生态圈将更趋成熟， 吸引更多投资者参与。 8月26日，ETF同时创下两个纪录：总规模首次突破5万亿元，百亿元以上的产品数量首次超过100只。 此外数据显示，截至8月26日ETF总份额为2.81万亿份，较2024年末的2.65万亿份，微幅增长6.04%。最新总规模5.07万亿 元，却比2024年末的3.73万亿元增长逾35%。 "ETF的规模增速远超份额增速，意味着规模增长较大程度是由行情上涨带来的，与此前增加产品发行等方式有明显区 别。"北方一家公募的市场营销人士对券商中国记者表示，2023年以来ETF迎来蓬勃发展，特别是在2024年"9·24"行情 后，ETF低费率、分散化的配置价值日趋得到认可，使得ETF规模在2025年接连突破4万亿元和5万亿元。 千亿规模基金公司已达14家 根据Wind统计，截至8月26日，全市场ETF ...

外界试图用"周期猎手"这样的标签来定义他，但这远不足以概括他投资世界的核心。 要真正理解张腾，我们需要回到故事的起点，探寻他投资操作系统的迭代之路——那是一段从极致锐度走向"反脆弱"的突围，一个曾经的赛道选手在市场的熔炉中 重构自我的故事。 当喧嚣点燃盛夏的A股舞池，聚光灯之外，总有一些人选择跳自己的舞步。 银华基金的张腾，就是这样一个"另类舞者"。当市场的目光都聚焦于AI、半导体、创新药的星辰大海时，他却在有色、化工这些看似传统的领域，踩出了令人惊叹 的节拍。 银河证券数据显示，截至2025年8月15日，张腾管理的银华瑞和灵活配置混合基金（005544）年内净值增长率29.69%（业绩比较基准3.96%），过去一年净值增长率 45.77%（业绩比较基准15.23%），在415只同类型基金中排名84。 （业绩数据来源：经托管行复核；排名数据来源：银河证券，过去一年指2024.8.16-2025.8.15；同 类型指灵活配置型基金A类） 进化：从赛道选手到反脆弱投资 学生时期，张腾是一个不折不扣的学霸，他曾在高中时期摘得全国物理竞赛一等奖，并因此保送清华大学热能工程系，同时还拿下了巴黎高科国际能源专业的管理 学 ...