【 导读 】 开年来，一批绩优基金 " 出手 " 分红 中国基金报记者 曹雯璟 2026年开年，多只绩优基金密集宣布分红，且分红比例均达10%以上。 中欧新趋势分红比例超12% 1月12日晚间，中欧基金发布公告称，基金经理周蔚文管理的中欧新趋势将以2025年12月31日为收益基准日，进行2026年度第一次分 红，权益登记日为2026年1月15日。 值得注意的是，这是该基金时隔三年多首次分红，其中A份额的分红方案为2.282元/10份基金份额，按照基准日下属分类基金份额净值计 算，此次分红比例超12%。 | 收益分配基准日 | | 2025年12月31日 | | | | | --- | --- | --- | --- | --- | --- | | 有关年度分红次数的说明 | | 本次分红为2026年度的第一次分红 | | | | | 下属分类基金的基金简称 | | 中欧新趋势 A(场内简称: | | | 中欧新趋势混 | | | | 混合(LOF) | 中欧新趋势 | 中欧新趋势 | | | | | | 混合(LOF)C | 混合(LOF)E | 合(LOF) X | | | | 中欧趋势 | | | | | ...

【导读】开年来，一批绩优基金"出手"分红 结合宏观经济、股市估值以及流动性，中欧基金权益投决会主席周蔚文最新观点认为，2026年上半年， A股与港股市场正收益机会的核心驱动力在于国内外流动性的双重支撑。从宏观层面看，国内GDP增速 回升还需要一定时间，工业企业、投资、居民消费等关键指标尚未出现趋势上升。这个观察期可能要持 续到2026年年中或更晚一些。 从估值角度看，他认为，当前股市并未达到历史极低水平，即当前市场机会并非源于估值极具吸引力。 在此背景下，周蔚文判断，上半年市场机会的核心来源在于流动性支撑。国内市场流动性方面，自上而 下的政策支持是最核心的支撑力量。 一批绩优基金密集分红 数据显示，2026年以来，东吴嘉禾优势、长盛航天海工装备、国泰金马稳健回报、景顺长城公司治理、 宝盈策略增长等多只绩优主动权益基金均已宣布分红，且分红比例都达10%以上。 2026年开年，多只绩优基金密集宣布分红，且分红比例均达10%以上。 中欧新趋势分红比例超12% 1月12日晚间，中欧基金发布公告称，基金经理周蔚文管理的中欧新趋势将以2025年12月31日为收益基 准日，进行2026年度第一次分红，权益登记日为2026年 ...

Core Viewpoint - The new regulations on performance benchmarks for public funds in China aim to enhance the accountability of fund managers by linking their compensation to the performance benchmarks, promoting a return to the fundamental purpose of asset management, which is to provide stable long-term returns for investors [1][9]. Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) released an action plan in May to promote high-quality development in the public fund industry, emphasizing the importance of performance benchmarks [1]. - A draft of new regulations regarding performance benchmarks was published on October 31, which is expected to improve the discipline of active investment and stabilize investment styles [1][9]. - The introduction of a performance benchmark element library aims to standardize the selection of benchmarks and prevent arbitrary changes, enhancing the comparability and normativity of benchmarks [9][8]. Group 2: Fund Performance Analysis - As of November 4, 2023, 3731 active equity funds were analyzed, with an average return that lagged behind their benchmarks by 7.26%, and only 34% of these funds outperformed their benchmarks over the past three years [2]. - Among the top-performing funds, only 20 funds achieved over 100% excess returns, indicating that achieving superior performance under the new standards is challenging [2]. - Some high-performing funds may have misleadingly high returns due to benchmark mismatches, highlighting the importance of appropriate benchmark selection [2][3]. Group 3: Size and Performance Correlation - Larger active equity funds do not necessarily correlate with superior excess returns; only 40% of funds over 10 billion yuan in size outperformed their benchmarks [5]. - Smaller funds, with an average size of 30.57 million yuan, showed better excess return capabilities, supporting the notion that smaller funds can adapt more flexibly to market changes [6][5]. Group 4: Fund Manager Impact - The total management scale of fund managers influences their active management capabilities, with a significant number of successful funds managed by managers overseeing over 10 billion yuan [7]. - The average tenure of fund managers does not significantly correlate with their ability to generate excess returns, indicating that experience alone may not guarantee performance [7]. Group 5: Industry Evolution - The new regulations are expected to lead to a systematic restructuring of the public fund industry, with a one-year transition period for existing products to adjust their benchmarks [9][10]. - The emphasis on long-term performance and the establishment of a benchmark-linked compensation system for fund managers will promote more transparent and standardized investment behaviors [9][10].