中加基金持续完善产品体系被市场视为"二次创业"。事实上， 中加基金的第一次创业成功抓住了固收业务的周期红利，实现 了管理规模从零到千亿的突破；而第二次创业的核心任务，是 要在新的行业发展阶段中，构建起"全天候、多策略、矩阵 式"的产品能力体系。 作者：默川 封图：图片资料室 2025年5月7日，证监会正式发布《推动公募基金高质量发展行动方案》（以下简称《行动方 案》），标志着我国公募基金行业进入深化改革、提质增效的新发展阶段。《行动方案》明确提 出"大力提升公募基金权益投资规模与占比，促进行业功能发挥"。 面对政策引导与市场转型的新常态，以固收见长的银行系公募基金，其破局关键在于主动优化业务 布局，着力构建平台化、体系化的权益投研能力，从而完成从传统"资金管理"向新时代"资本赋 能"的功能升级。 11月中旬，原中航基金副总经理兼首席投资官邓海清已正式离职，其从业资格在中航基金显示已 注销。据了解，邓海清拟出任中加基金首席经济学家、首席投资官。这位在宏观、固收与权益领域 均有深厚积淀的金融老将的加盟，也是中加基金落实《行动方案》推动业务转型升级的新行动。 公开资料显示，邓海清拥有复旦大学金融学博士学位，曾在宏源 ...

2025年5月7日，证监会正式发布《推动公募基金高质量发展行动方案》（以下简称《行动方案》），标 志着我国公募基金行业进入深化改革、提质增效的新发展阶段。《行动方案》明确提出"大力提升公募 基金权益投资规模与占比，促进行业功能发挥"。 面对政策引导与市场转型的新常态，以固收见长的银行系公募基金，其破局关键在于主动优化业务布 局，着力构建平台化、体系化的权益投研能力，从而完成从传统"资金管理"向新时代"资本赋能"的功能 升级。 11月中旬，原中航基金副总经理兼首席投资官邓海清已正式离职，其从业资格在中航基金显示已注销。 据了解，邓海清拟出任中加基金首席经济学家、首席投资官。这位在宏观、固收与权益领域均有深厚积 淀的金融老将的加盟，也是中加基金落实《行动方案》推动业务转型升级的新行动。 公开资料显示，邓海清拥有复旦大学金融学博士学位，曾在宏源证券（000562）、中信证券、九州证券 等机构担任首席分析师、首席经济学家，并具备多年资产配置与投资管理经验。 权益业务系统化建设 从中加基金的发展现状来看，此次人才引进背后蕴含着清晰的战略考量。在固收领域，中加基金已形成 显著的竞争优势，成为公司规模增长的核心支柱。然而， ...

Core Insights - The article provides an overview of the performance of various mutual funds, highlighting the top and bottom performers based on net asset value updates as of October 20, 2025 [3][4]. Fund Performance Summary Top Performing Funds - The top 10 funds with the highest net value growth include: 1. Rongtong New Energy Vehicle Theme Selected A: 2.6994 (up from 2.5757) [3] 2. Rongtong New Energy Vehicle Theme Selected C: 2.6303 (up from 2.5099) [3] 3. Huian Growth Preferred Mixed A: 2.0799 (up from 1.9847) [3] 4. Huian Growth Preferred Mixed C: 1.9519 (up from 1.8626) [3] 5. Manulife Growth Mixed: 3.3419 (up from 3.1896) [3] 6. Zhongjia Core Intelligent Manufacturing Mixed A: 1.8700 (up from 1.7852) [3] 7. Zhongjia Core Intelligent Manufacturing Mixed C: 1.8291 (up from 1.7462) [3] 8. Manulife Performance Mixed A: 2.1059 (up from 2.0108) [3] 9. Manulife Performance Mixed C: 2.0781 (up from 1.9843) [3] 10. Manulife Economic Leading Two-Year Holding Mixed: 1.1704 (up from 1.1185) [3] Bottom Performing Funds - The bottom 10 funds with the lowest net value growth include: 1. Qianhai Kaiyuan Gold and Silver Jewelry Mixed A: 2.4620 (down from 2.6090) [4] 2. Qianhai Kaiyuan Gold and Silver Jewelry Mixed C: 2.4060 (down from 2.5490) [4] 3. Huafu Yongxin Flexible Allocation Mixed C: 1.6901 (down from 1.7884) [4] 4. Huafu Yongxin Flexible Allocation Mixed A: 1.7397 (down from 1.8407) [4] 5. Wanjia Cycle Vision Stock Initiation C: 1.0294 (down from 1.0806) [4] 6. Wanjia Cycle Vision Stock Initiation A: 1.0298 (down from 1.0810) [4] 7. Yinhua Domestic Demand Selected Mixed (LOF): 3.8010 (down from 3.9700) [4] 8. Yinhua Tongli Selected Mixed: 1.2138 (down from 1.2662) [4] 9. Yinhua Growth Pioneer Mixed: 1.4650 (down from 1.5270) [4] 10. Gold Stock ETF: 1.9938 (down from 2.0742) [4] Market Overview - The Shanghai Composite Index opened high and experienced horizontal fluctuations, closing slightly up, while the ChiNext Index showed a similar trend with a slight increase [6]. - The total trading volume was 1.75 trillion (down by 200 billion from the previous trading day) [6]. - The number of advancing stocks was 4064, while declining stocks numbered 1253 [6]. - Leading sectors included communication equipment and gas supply, both rising over 3% [6].

Core Insights - The China International Service Trade Fair 2025 opened in Beijing, focusing on "Digital Intelligence Leadership" with discussions centered around "Tech Finance" and "New Quality Productivity" [2] - Zhongjia Fund was awarded the title of "Best Cooperation Partner in Financial Services" and hosted a tech finance investment strategy sharing session [2] - Zhongjia Fund aims to become the direct executor of Beijing Bank's strategy to build a "specialized, refined, characteristic, and innovative" asset management brand [2][4] Performance Metrics - As of September 1, 2025, Zhongjia Fund's equity product "Zhongjia Specialized, Refined, Characteristic, and Innovative Quantitative" achieved a year-to-date return of 51.97%, ranking first among similar themed funds [2][13] - The fund's maximum drawdown since inception was only 12.77%, compared to an average maximum drawdown of 17% for similar funds [13] Market Context - The term "specialized, refined, characteristic, and innovative" has evolved into a clear investment theme in the secondary market, with 80.6% of newly listed A-share companies in the first half of 2025 falling into this category [3] - By August 2025, nearly 1,350 specialized, refined, characteristic, and innovative companies were listed on the Shanghai, Shenzhen, and Beijing exchanges, accounting for a quarter of all A-share companies [3] Strategic Positioning - Zhongjia Fund's approach to the tech growth sector is not opportunistic but rather a long-term strategic plan initiated in 2020, aligning with national industrial upgrade directions [6][7] - The fund has built a comprehensive investment matrix in the tech sector, establishing multiple thematic funds covering various stock exchanges [6][7] Team and Expertise - Zhongjia Fund has invested in recruiting a team of professionals with backgrounds in new technologies and industries to enhance its understanding of high-tech sectors [8] - The new generation of fund managers brings expertise in areas such as AI chips and new consumption, contributing to the company's competitive edge in tech growth investments [8] Systematic Approach - The fund employs a self-developed multi-factor quantitative model that integrates various investment factors, allowing for systematic diversification and risk management [14] - This systematic approach enables Zhongjia Fund to balance aggressive returns with its traditional risk-averse banking background, demonstrating that a bank's risk control can coexist with equity investment demands [12][14] Broader Implications - Zhongjia Fund's success illustrates how a traditional financial institution can innovate and adapt to long-term investment strategies, providing a model for industry transformation [18] - The company's commitment to long-term value and strategic collaboration within the Beijing Bank system strengthens its position in the competitive investment landscape [17][18]

Core Insights - The 2025 China International Service Trade Fair, themed "Digital Intelligence Leading, Service Trade Renewed," showcased China's high-quality development in sectors like AI, fintech, and green low-carbon initiatives [1] - China International Service Trade Fair recognized Zhongjia Fund as the "Best Partner in Financial Services" [1] - Zhongjia Fund is focusing on "specialized, refined, distinctive, and innovative" enterprises, aiming to capture growth in high-end manufacturing, tech innovation, and emerging consumption [3][4] Investment Performance - Zhongjia Fund's "Zhongjia Specialized and Innovative Quantitative Stock Mixed Fund" achieved a return of 51.97% year-to-date as of September 1, 2025, outperforming its benchmark by 20 percentage points [3] - The "Zhongjia Technology Innovation Mixed Fund" and "Zhongjia Core Intelligent Manufacturing Mixed Fund" reported returns of 155.64% and 104.28% respectively over the past year, significantly exceeding the 36.2% increase of the CSI 300 index [5] Market Trends - The number of "specialized and innovative" companies listed on China's capital markets has increased, with over 50% representation on the Sci-Tech Innovation Board and Beijing Stock Exchange [4] - AI is becoming a critical investment theme, with applications across various industries, indicating a substantial potential for future investment opportunities [6] Product Strategy - Zhongjia Fund has developed a diverse product line targeting specialized and innovative sectors, including AI, semiconductors, and new consumption trends [5] - The fund emphasizes a long-term investment approach, integrating research and investment strategies to adapt to market changes [6] Future Outlook - Zhongjia Fund aims to align with national strategies by focusing on new quality productivity and supporting hard-tech enterprises, enhancing investor experience [8] - The company is committed to providing comprehensive asset allocation solutions throughout different life stages of investors [7]

Group 1 - The core viewpoint of the news is the performance and financial metrics of KOTAI Power, which saw an 8.07% increase in stock price, reaching 39.50 CNY per share, with a total market capitalization of 12.64 billion CNY [1] - KOTAI Power specializes in the development, design, production, and sales of intelligent environmental power supply equipment, with the majority of its revenue coming from low-noise diesel generator sets, accounting for 88.96% of total revenue [1] - The company was established on June 19, 2002, and went public on December 29, 2010, indicating a long-standing presence in the market [1] Group 2 - The fund "Zhongjia Core Intelligent Manufacturing Mixed A" (009242) holds KOTAI Power as its seventh-largest position, with a net value proportion of 4.62% after reducing its holdings by 3.08 thousand shares [2] - The fund has shown significant performance, with a year-to-date return of 55.83% and a one-year return of 91.08%, ranking 418 out of 8175 and 481 out of 7982 respectively [2] - The fund manager, Zhang Yiran, has been in charge for 4 years and has achieved a best return of 51.61% during his tenure [3]