11月10日，开源证券和前海开源基金传来了金融业的一则悲讯：行业老将王兆华因病医治无效，与世长辞，享年六十九岁，追悼会于11月12日举 行。 王兆华的名字，与两家机构的历史紧密交织。他不仅是开源证券原董事长、总经理，推动过公司业务发展和管理创新；也曾担任前海开源创始人、首 任董事长、党委书记，带领这家公司从零起步，发展成为管理规模超千亿的公募基金公司。 在前海开源的悼念通知中，这样描述王兆华之于公司的意义：王兆华是公司的奠基者，为公司的成立和发展作出了不可磨灭的贡献。"他的离去，是我 们公司巨大的损失，他的精神与风范，将长存于我们心中"。他的老同事、前海开源终身顾问王宏远，亦在朋友圈中沉痛致哀。 职业生涯贯穿中国金融业多个重要发展阶段 在王宏远的眼中，王兆华刚正不阿，行事光明磊落，始终保持着一个金融人的初心与风骨。他刻苦务实，即便在事业高峰，也从未停止对知识与趋势 的探索，从早年脱岗进修到日后管理数千亿资产，他始终以学习驱动自我与事业的进步。 "我们敬仰先生的为人处世，他豪爽义气耿直待人真诚朴实善良热心，视友为兄，有求必应，有忙必帮，乐于助人。"在最新发布的微信朋友圈里，王 宏远如此评价。 作为一位在金融行业 ...

Core Viewpoint - The passing of Wang Zhaohua, the founder and first chairman of Qianhai Kaiyuan Fund, is a significant loss for the financial industry and capital markets, as he made substantial contributions to the establishment and development of the company [1][3][5]. Group 1: Contributions and Achievements - Wang Zhaohua was instrumental in leading Qianhai Kaiyuan Fund from its inception, growing the management scale to approximately 150 billion RMB, and generating over 20 billion RMB in profits for 19.2 million fund holders [6][7]. - Under his leadership, the company achieved a 13-fold increase in shareholder value over 13 years, benefiting all shareholders, including state-owned entities [7]. Group 2: Personal Background and Legacy - Wang Zhaohua had over 40 years of experience in the financial sector, starting his career in 1980 at the People's Bank of China and holding key positions in various financial institutions [7]. - His character was marked by integrity, diligence, and a commitment to continuous learning, earning him deep respect and admiration from colleagues and subordinates [7].

Core Viewpoint - The article reports the passing of Wang Zhaohua, the founder and first chairman of Qianhai Kaiyuan Fund, highlighting his significant contributions to the company and the financial industry as a whole [2][4][7]. Group 1: Background and Career - Wang Zhaohua was born in August 1957 in Qian County, Shaanxi, and had a diverse career in various financial institutions, including the People's Bank of China, Industrial and Commercial Bank of China, Huaxia Securities, and Kaiyuan Securities [4]. - From 2013 to 2022, he served as the chairman of Qianhai Kaiyuan Fund, during which the company's assets under management grew from zero to 150 billion yuan (approximately 21.5 billion USD) [4]. Group 2: Contributions and Legacy - Qianhai Kaiyuan Fund acknowledged Wang Zhaohua as a foundational figure whose contributions to the company's establishment and growth are indelible [7]. - Wang Hongyuan, the honorary chairman of Qianhai Kaiyuan Fund, praised Wang Zhaohua for his integrity, dedication, and continuous pursuit of knowledge, which earned him deep respect and affection from peers and subordinates [7]. - Wang Zhaohua is characterized as a hardworking and visionary leader whose life was marked by significant contributions to the reform of the financial market and the development of the capital market [7].

北京商报讯（记者 李海媛）11月12日，北京商报记者获悉，前海开源基金向公司内部发布讣告表示， 公司创始人暨首任董事长王兆华同志因病医治无效，于2025年11月10日在西安逝世。公开资料显示，王 兆华曾在中国人民银行西安市分行、中国工商银行、华夏证券、开源证券等多家金融机构任职。2013 年，前海开源基金成立，王兆华带领公司实现从零到千亿级管理规模的跨越。 ...

Group 1 - The core point of the news is that Huilv Ecological Technology Group Co., Ltd. has seen a stock price increase of 5.43%, reaching 20.01 CNY per share, with a total market capitalization of 15.711 billion CNY [1] - The company, established on January 29, 1990, and listed on November 17, 2021, is primarily engaged in landscaping engineering construction, landscape design, and seedling planting [1] - The revenue composition of the company includes AOC at 38.62%, optical modules at 31.08%, landscaping engineering at 17.78%, and other segments contributing smaller percentages [1] Group 2 - According to data, Huilv Ecological is the top holding in the Qianhai Kaiyuan CSI Health Index Fund, which holds 74,600 shares, accounting for 1.67% of the fund's net value [2] - The Qianhai Kaiyuan CSI Health Index Fund has a total scale of 78.8441 million CNY and has achieved a year-to-date return of 13.82% [2] - The fund manager, Liang Pusen, has a tenure of 5 years and 191 days, with the best fund return during this period being 126.92% [3]

Group 1 - The core viewpoint of the article indicates that the market is preparing for a new upward trend, supported by the resilience shown in the third-quarter reports of listed companies [1] - The A500ETF by E Fund has reached a scale of 23.6 billion yuan after one year, ranking among the top in its category [1] - The "14th Five-Year Plan" emphasizes high-quality development and technological self-reliance, aiming to enhance macroeconomic governance efficiency [1] Group 2 - The expectation of price recovery is clear, with a focus on reducing internal competition in certain sectors [1] - The technology sector is entering a verification phase regarding its trends and performance [1] - The long-term positive trend of the A-share market remains unchanged [1]

美股三大指数昨日涨跌互现，道琼斯工业平均指数涨超1%，创下收盘纪录新高。 受盘面影响，道琼斯ETF涨近3%，创上市新高。 | 代码 | 类型 名称 | | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | --- | | 159502 | 跨 | 标普生物科技ETF T+0 | 1.209 | 0.047 | 4.04% | | 513400 | ଚ | 道琼斯ETF T+0 | 1.285 | 0.036 | 2.88% | | 513290 | 跨 | 纳指生物科技ETF T+0 | 1.476 | 0.041 | 2.86% | 有分析认为，华尔街押注美国历史上持续时间最长的政府停摆有望很快结束，并且投资者乐观预期官方 经济数据料为美联储利率路径提供更多线索。 此外，标普生物科技ETF涨超4%，纳指生物科技ETF涨超2%。 ...

Core Viewpoint - The article discusses the phenomenon of institutional investors having advance knowledge of fund manager departures, leading to early redemptions that harm individual investors, highlighting the issue of information asymmetry in the mutual fund industry [1][12]. Group 1: Fund Manager Departures - As of November 10, 2023, 276 fund managers have left their positions this year, including notable figures such as Zou Xi and Jiang Feng [1]. - Prior to their official announcements, many of these fund managers experienced significant redemptions in their funds, indicating that institutional investors were aware of their departures beforehand [1][3]. Group 2: Redemption Data - Specific funds managed by departing managers saw substantial redemptions: - For example, Yang Siliang's funds experienced redemptions of 7.51 million and 2.22 million shares, leading to a decrease in assets of 13.71 billion and 17.1 billion respectively, representing declines of 73.51% and 64.3% [2][3]. - Other funds managed by different departing managers also faced significant redemptions, with percentages ranging from 6.08% to 64.30% [2][4]. Group 3: Institutional Investor Influence - Institutional investors hold a significant portion of mutual fund assets, with their share increasing from 29% in 2012 to 51% by the end of 2019, and currently at 48.25% [5][6]. - Institutions are considered "smart money" due to their expertise and large capital, which allows them to exert considerable influence over fund operations [6][7]. Group 4: Ethical Concerns and Market Transparency - The practice of institutional investors receiving advance notice of fund manager changes raises ethical questions regarding market transparency and fairness for individual investors [12]. - Current regulations do not explicitly prohibit fund managers from informing institutional clients about their departures, leading to potential exploitation of information asymmetry [12][13]. Group 5: Regulatory Developments - The China Securities Regulatory Commission has emphasized the need for investor-centric practices in the mutual fund industry, aiming to address the issues of information disparity and protect individual investors [12]. - A unified marketing service platform for institutional investors has been launched, indicating a move towards stronger regulation in the industry [13].

专题：公募圈悲痛！前海开源基金创始董事长王兆华因病去世 11月12日，记者从知情人士处获悉，前海开源基金创始人、首任董事长王兆华于11月10日因病去世，终 年69岁。 据悉，王兆华1957年8月出生于陕西乾县，曾在中国人民银行陕西省分行、工商银行、华夏证券、开源 证券等工作。2013年—2022年，王兆华担任前海开源基金董事长，带领公司管理规模从0增长至1500亿 元；2022年后，王兆华担任前海开源基金党委书记、董事会董事。 前海开源基金在通知中表示，王兆华是公司的奠基者，为公司的成立和发展作出了不可磨灭的贡献。他 的离去，是公司巨大的损失，他的精神与风范，将长存于我们心中。 前海开源基金荣誉董事长王宏远表示，王兆华一生刚正不阿，行事光明磊落，始终保持着一个金融人的 初心与风骨。他刻苦务实，即便在事业高峰，也从未停止对知识与趋势的探索，从早年脱岗进修到日后 管理数千亿资产，始终以学习驱动自我与事业的进步。他的正直、朴实、勤勉与智慧，赢得了同行、同 事与下属发自内心的尊敬与爱戴。纵观王兆华的人生履历，他是一位奋力拼搏、忘我工作、勇于开拓、 高瞻远瞩的实干家和领航者；他的一生，是平凡而辉煌的一生，是顽强奋斗的一 ...

华西证券分析称，南向资金更青睐红利和金融板块，而更倾向于规避科技、医药、消费相关品种。事实 上，港股红利品种从9月底企稳反弹，至今已形成上涨趋势，后续行情值得关注。 此外，港股的股东回报具有一定吸引力，其股息率长期处于全球主要市场的前列。自2020年以来，恒生 指数的股息率持续保持在3%~5%的高位区间，不仅高于美、日市场，也普遍优于A股的沪深300指数， 体现了其成分股稳定的盈利能力和成熟的回报文化。 近期，南向资金持续流入港股市场。数据显示，11月11日，南向资金通过港股通净流入44.67亿港元， 今年以来累计净流入已超过1.3万亿港元；自港股通开通以来的累计净流入规模也突破5万亿港元，刷新 互联互通机制开通以来的最高纪录。 华夏港股通红利低波ETF基金（159118）将于今日募集结束，助力投资者在低利率环境下低费率（管理 费+托管费仅0.2%）、高效率（T+0交易）一键布局高股息资产。 ...