中欧小盘成长混合的规模管控方案颇具代表性。Wind资讯数据显示，截至11月7日，这只2022年6月份成立的基金，年内净 值增长率达57.73%，业绩排名同类前10.49%（按二级投资类型统计）。该基金以国证2000指数为主要标准配置基金资产，80% 以上非现金资产聚焦小盘成长股票领域。 "中欧基金此次的规模管控举措向市场传递了重业绩、重长期价值的信号。"晨星（中国）基金研究中心总监孙珩向《证券 日报》记者分析称，作为聚焦小盘成长的产品，20亿元上限能避免规模过大导致的操作难题，如难以灵活布局中小盘标的、交 易成本上升或投资策略变形等。 本报记者 彭衍菘 日前，中欧基金一则规模管控公告引发市场关注。该公司宣布对旗下一只绩优基金——中欧小盘成长混合设置20亿元规模 上限，采用"比例确认"方式控制规模。 事实上，类似规模管控动作并非个例。近期，恒越均衡优选混合发起式、中信保诚景气优选混合等年内净值增长率均超 40%的绩优产品，也纷纷发布限购或暂停申购公告。 "比例确认"原则并不复杂，可简单理解为"额度不够时按比例分"：以中欧小盘成长混合为例，该基金将20亿元作为规模红 线，若某一天新增申购（扣除赎回后）导致总规模即 ...

10月31日，永赢基金宣布，由高楠管理的永赢惠添利、永赢睿恒、永赢睿信、永赢融安，自11月3日起 设置单日50万元的大额申购上限。 10月30日，富国基金公告，由范妍管理的富国均衡投资自10月31日起设置单日100万元的大额申购上 限。该基金成立于今年6月4日，截至三季度末的规模已超37亿元。 此外，金元顺安行业精选混合、广发全球精选股票、易方达科汇灵活配置混合、易方达平稳增长混合等 基金均在近期发布了限购公告。 不过，也有一些基金在近期"开门迎客"，放开限购。易方达基金公告，自11月3日起，易方达先锋成长 混合取消单日单个基金账户在全部销售机构累计申购(含定期定额投资及转换转入)A类基金份额或C类 基金份额的金额不超过100万元(含)的限制，恢复办理大额申购、大额转换转入业务。该基金曾于8月26 日发布暂停大额申购及大额转换转入业务的公告。 近期，不少基金公告限购。一些基金因分红等原因限购，还有一些基金通过限制大额申购甚至完全暂停 申购的方式，旨在短期内控制产品规模，避免摊薄收益，以期获得较好的年度排名。业内人士表示，基 金限购可以避免短期内规模快速膨胀，维持适度的规模和平稳的运作，有利于保护持有人利益。 ...

Core Viewpoint - Recent announcements of fund subscription limits are aimed at controlling product scale to avoid dilution of returns and to achieve better annual rankings [1][3][4] Fund Subscription Limits - Many funds have announced subscription limits or suspensions, including Hengyue Fund and CITIC Prudential Fund, to protect the interests of existing shareholders [1][2] - Hengyue Fund suspended subscription and related activities starting November 5, while CITIC Prudential Fund set a limit of 10 million yuan for large subscriptions [1][2] - Other funds like Yongying Fund and Fuguo Fund have also implemented similar measures, with some funds like E Fund lifting restrictions [2][3] Performance and Strategy - Several funds that have announced subscription limits have shown strong performance, with returns such as 51.24% for Hengyue Fund and 106.39% for Yongying Fund this year [2][3] - Fund managers indicate that limiting subscriptions helps maintain stable operations and protects existing investors from the adverse effects of rapid scale expansion [3][4] Market Outlook - The A-share market is expected to continue its upward trend, supported by structural improvements in the domestic economy and declining risk-free rates [4][5] - Investment strategies suggest a balanced allocation with a focus on low-position sectors and core technology themes, while value styles may dominate due to upcoming earnings forecasts [4][5]

Group 1: Fund Performance - 42 public funds have achieved a net value growth rate exceeding 100% year-to-date, with the highest nearing 190%. Most of these funds are heavily invested in technology or pharmaceutical assets [1] Group 2: Regulatory Developments - The China Securities Regulatory Commission has approved the launch of the Fund Industry Service Platform (FISP), which will facilitate direct sales of funds by fund managers and custodians [2] Group 3: Educational Initiatives - The first systematic public welfare "Financial Course for the Elderly" has been launched in the public fund industry, focusing on financial fraud prevention, asset allocation awareness, and long-term asset planning for seniors [3] Group 4: Fund Manager Updates - Multiple funds managed by Jiang Feng have appointed additional fund managers, including Wang Ying, who will co-manage with Jiang Feng in several funds [4][5] Group 5: ETF Market Overview - The market experienced a slight decline, with the Shanghai Composite Index down 0.30% and the Shenzhen Component Index down 0.04%. The total trading volume in both markets was 2.32 trillion yuan, a decrease of 811.3 billion yuan from the previous trading day [5] - The S&P Biotechnology ETF led the gains with an increase of 2.92%, while the China A50 ETF saw the largest decline at 9.35% [6][8] Group 6: Automotive Sector Outlook - The automotive sector is expected to benefit from the continuation of the vehicle trade-in policy, which is projected to support sales growth and create a favorable environment for automotive ETFs [9]

Core Insights - CITIC Prudential Fund announced the appointment of Wang Ying and Jiang Feng to co-manage the CITIC Prudential Prosperity Preferred Mixed Fund, while Wang Ying, Chen Lan, and Jiang Feng will co-manage the CITIC Prudential Anxin Return Bond Fund [1] - Jiang Feng, currently an assistant director in the equity investment department, has achieved a return rate of 128.24% since taking over the CITIC Prudential Multi-Strategy Flexible Allocation Mixed Fund on April 14, 2020, with an annualized return of 16.40% [3] - The recent trend of co-management among fund managers is noted, with Liu Peng from CCB Principal Asset Management also losing sole management of his funds [3] Industry Trends - The number of fund managers who have left their positions in the public fund industry has reached 299 this year, while 418 new fund managers have been appointed [3] - The changes in fund management personnel reflect the competitive landscape of the public fund industry, emphasizing the importance of building a sustainable research and investment system for companies [3]

【导读】又有绩优基金经理或将离职，所管产品纷纷增聘基金经理 中国基金报记者 若晖 增聘信息透露出绩优基金经理即将离职的信号。 9 月 17 日，中信保诚基金经理江峰管理的中信保诚景气优选混合、中信保诚安鑫回报债券基 金双双增聘基金经理。无独有偶，近期，交银施罗德基金经理刘鹏管理的多只基金也增聘基 金经理。目前，上述两名基金经理已无单独管理的基金。 从过往情况看，增聘基金经理之后往往会伴随卸任或离职等相关人事变动。据业内人士透 露，上述两名基金经理近期确有离职的考虑。 业内人士表示，随着公募基金高质量发展行动方案落地，基金经理薪酬考核也迎来改革，叠 加行业 " 马太效应 " 愈演愈烈，部分基金经理选择 " 奔私 " ，而部分基金经理选择去大的 平台，由此带来了一波基金经理变更潮。 又有绩优基金经理或将离职 近期，多位基金经理旗下基金增聘他人共管，引发了行业对其未来动向的关注。 9 月 17 日，中信保诚基金 发布 公告 称 ，中信保诚景气优选混合、中信保诚安鑫回报债券 基金增聘基金经理。其中，中信保诚景气优选混合增聘王颖 与江峰共管 ，中信保诚安鑫回报 债券增聘王颖与陈岚、江峰共同管理。而在 8 月下旬，江峰管 ...

中信保诚景气优选混合A/C成立于2024年2月26日，截至2025年9月16日，其今年来收益率为 42.77%、42.15%，成立来收益率为80.27%、78.57%，累计净值为1.8027元、1.7857元。 | 基金名称 | 中信保诚安鑫回报债券型证券投资基金 | | --- | --- | | 基金简称 | 中信保诚安鑫回报债券 | | 基金主代码 | 009730 | | 基金管理人名称 | 中信保诚基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》 | | 基金经理变更类型 | 增聘基金经理 | | 新任基金经理姓名 | 王题 | | 共同管理本基金的其他基金经理姓名 | 陈岚、江峰 | | 基金名称 | 中信保诚景气优选混合型证券投资基金 | | --- | --- | | 基金简称 | 中信保诚景气优选混合 | | 基金主代码 | 020151 | | 基金管理人名称 | 中信保诚基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》 | | 基金经理变更类型 | 增聘基金经理 | | 新任基金经理姓名 | 王颖 | | 共同管理本基金的其 ...

Core Insights - Fund managers are increasingly showcasing their real-time investment performance on platforms like Ant Wealth, engaging in high-frequency interactions with investors [1][6] - The trend reflects a shift towards transparency and investor education, with fund managers sharing their investment strategies and performance metrics [6] Fund Manager Performance - Yao Jiahong, a fund manager at Guojin Fund, reported a real-time investment scale exceeding 4.1 million yuan, with a cumulative return of 1.0583 million yuan [2] - Ma Fang, another prominent fund manager, has a real-time investment scale of 1.94 million yuan and cumulative returns surpassing 600,000 yuan [3] - Jiang Feng from CITIC Prudential Fund has a total holding of 402,200 yuan with returns exceeding 160,000 yuan, primarily invested in the CITIC Prudential Prosperity Preferred Mixed Fund [4] Investment Strategies - Fund managers are utilizing a variety of investment strategies, including quantitative and index funds, to optimize their portfolios [3][5] - Liang Xing, a fund manager at Guotai Fund, has a diverse portfolio with a total investment of 1.346 million yuan, focusing on multiple ETFs [3] Market Trends - The current market environment is favorable for quantitative strategies, with many private quantitative products achieving over 40% returns this year [7] - The average daily trading volume in the market remains above 1.5 trillion yuan, indicating a healthy trading environment [7][8] - Small-cap stocks are expected to regain an advantage in the market, with strategies like phased investment and profit-taking recommended for investors [8]

Group 1 - Fund managers are actively sharing their real-time investment performance on platforms like Ant Wealth, engaging with investors frequently [1][4] - Yao Jiahong, a fund manager, reported a total investment of over 4.1 million yuan, achieving a cumulative return of 1.0583 million yuan, with significant daily gains [1][2] - Other fund managers, such as Ma Fang and Liang Xing, also showcase their investment strategies and returns, with Ma's cumulative earnings exceeding 600,000 yuan and Liang managing a diverse portfolio [2][3] Group 2 - The performance of quantitative funds has been notably strong, with some achieving returns over 40% this year, and specific funds like Guojin Quantitative Multi-Factor Stock yielding 29.92% year-to-date [5][6] - Market conditions are favorable for quantitative strategies, with daily trading volumes remaining above 1.5 trillion yuan, indicating a healthy market environment [6][7] - The small-cap style is expected to regain an advantage, as recent market adjustments may favor this segment, suggesting strategies like phased investment and profit-taking [7]

Core Viewpoint - The active equity funds have seen a steady increase in net asset value (NAV), with 228 funds reaching all-time highs as of June 25, driven by market trends and effective fund management [1][2]. Group 1: Fund Performance - As of June 25, 2023, the unit NAV of the Guangfa Technology Select Stock Fund, established on April 17, 2023, reached a new high of 1.0627 yuan, focusing on investment opportunities in technology-themed companies [1]. - The CITIC Prudential Prosperity Mixed Fund, launched in February 2024, achieved a unit NAV of 1.6317 yuan on June 25, with a focus on consumer sectors, industries benefiting from stable growth, national security, and high-tech manufacturing [2]. - The Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund, established in November 2017, reached a unit NAV of 5.5162 yuan on June 25, with a three-year NAV growth rate of 78.24% [2]. - The Guangfa Multi-Factor Mixed Fund, launched in December 2016, achieved a unit NAV of 3.9408 yuan on June 25, with a three-year NAV growth rate of 14.59% [3]. Group 2: Market Trends and Insights - The continuous expansion of market hotspots and significant structural opportunities have supported the growth of fund NAVs, with sectors like technology, new energy, new consumption, and pharmaceuticals performing well since 2025 [1]. - The market is expected to maintain a technology-driven trend in 2025, with an overall increase in risk appetite as external disturbances ease, suggesting a focus on technology, consumption, high-end manufacturing, and pharmaceuticals [2]. - The performance of active equity funds has been challenging against benchmarks in recent years, but a longer evaluation period shows that some high-performing funds can outperform indices, highlighting the importance of fund managers' capabilities [3].