智通财经记者统计发现，上述绩优基金经理官宣离任前，他们的代表作基金均出现了规模不等的提前赎回。 智通财经记者 | 杜萌 智通财经编辑 | 宋烨珺 今年，多位绩优基金经理官宣离任。而在官宣前，他们离职的消息就在业内暗暗流传。 通过多只基金的季报数据，智通财经发现，面对或真或假的离职消息，不少基金持有人都会选择赎回观望，而提前赎回大量资金的多数为机构投资者。信息 不对称的基民，在基金经理官宣离任后才意识到正在"傻傻站好最后一班岗"。 机构投资者作为某些基金的"大金主"，为何能提前精准知晓基金经理的变动？"机构先跑"的背后，折射出一个公募基金被质疑许久的问题：同为投资者，个 人和机构何时能真正实现信息平等和同权？ 机构先跑 Wind数据显示，截至11月10日，今年已有276位基金经理离任，其中不乏邹曦、江峰、马龙、鲍无可、周海栋、杨思亮等知名基金经理。 | 013859.OF | 宝盈品质甄选A | | --- | --- | | 013958.OF | 华商鑫选回报一年持有 | | 018561.OF | 中信保诚多策略混合 | | 001508.OF | 富国新动力A | | 000390.OF | 华商优势行 ...

Core Viewpoint - The recent announcement of subscription limits for the China Europe Medical Innovation Fund managed by Ge Lan highlights the strong rebound in the innovative drug sector, with significant year-to-date gains in related funds and stocks [1][2]. Fund Performance and Subscription Limits - The China Europe Medical Innovation Fund has seen a year-to-date return exceeding 60%, with its scale increasing to 8.1 billion yuan by the end of Q2 [1][4]. - Over 30 actively managed equity funds have announced subscription limits since July, indicating a cautious approach by fund managers in response to rapid inflows [2][7]. - The China Europe Medical Innovation Fund's performance is notable, but it has not recovered from significant losses over the past three years, with a decline of 9.62% [2][6]. Market Trends and Fund Management - The strong performance of the innovative drug sector is reflected in the China Securities Index's pharmaceutical and biotechnology index, which has risen over 20% in the past year [5]. - The subscription limits are intended to stabilize fund operations and protect the interests of existing investors, serving as a buffer against excessive short-term inflows [2][3]. - Other funds managed by prominent managers, such as the China Europe Digital Economy Fund and the China Europe Science and Technology Innovation Fund, have also implemented subscription limits to manage inflows effectively [2][3]. Fund Composition and Strategy - The China Europe Medical Innovation Fund has a heavy allocation in the pharmaceutical and biotechnology sector, with 91.62% of its holdings in this area, primarily in stocks like 3SBio, which has seen a nearly 400% increase this year [5][6]. - The fund's previous subscription limit was set at 5 million yuan per day, indicating a history of managing inflows carefully [5][6]. Broader Market Context - The recent trend of subscription limits among high-performing funds reflects a broader strategy to maintain fund performance and manage investor expectations amid a rising equity market [7][10]. - The market outlook suggests potential structural characteristics in A-shares, with expectations of continued recovery in risk appetite due to easing monetary policies and reduced global trade tensions [12].