Group 1 - The equity market experienced a comprehensive rise in Q3 2025, benefiting both investors and fund companies as fund net values increased [1] - Employee holdings are primarily concentrated in stable products and those managed by star fund managers, with some equity funds showing significant returns in Q3 [1] Group 2 - As of mid-2025, there are 10,075 funds in the market with initial shares held by employees, with money market funds being the mainstay of employee holdings [3] - Among the top twenty funds, 16 are money market funds, with E Fund Cash Management holding 378 million shares, and other funds like Huatai-PB and CITIC Securities holding over 100 million shares each [3] - In the active equity category, Zhonggeng Value Pioneer leads with 197 million shares held by employees, followed by other funds with significant holdings [3] - Overall employee holdings slightly decreased to 6.029 billion shares by the end of Q2 compared to the end of the previous year due to profit-taking behavior [3] - Zhonggeng Value Pioneer heavily invested in Anjixin Food, achieving a net value increase of 13.31%, while Hengyue Advantage Selection's net value doubled [3]

三季度行情落下帷幕，在权益市场全面上涨的行情中，基金净值上扬不仅让基民得以参与行情盛宴，亦 让"自家人"获利匪浅。 从持有份额来看，被基金管理人员工持股最多的几只产品均为行业布局较为稳健的基金，或者是由公司 旗下主力基金经理担纲管理的产品，个别基金经理在三季度内"不负众望"，以极佳的净值表现回馈了对 其投信任票的内部员工。 值得一提的是，财通基金金梓才旗下多只产品在三季度内涨幅约为九成，从数据来看，他在公司内部亦 有一定"号召力"，这部分绩优基金在二季度末被基金管理人员工持有了相当高的份额。 超万只基金获"自己人"持有 Wind数据显示，截至2025年上半年末，全市场共有10075只基金产品（仅统计初始份额）获公募基金自 家员工持有。 从持有份额看，截至二季度末，共有83只主动权益基金中的基金管理人员工持有份额超过1000万份，还 有1200余只产品持有份额超过100万份；且在行情回温的过程中，管理人员工选择落袋为安，截至六月 末整体持有份额为60.29亿份，较去年末的61.64亿份环比略有缩水。 部分产品斩获颇丰 随着下半年行情的加速上涨，部分主动权益基金也在三季度内为基金管理人员工提供了丰厚收益。 如前述 ...

（原标题：超80只权益基金年内业绩翻番，机构、基金公司员工"持基"全揭秘） 随着市场行情回暖、资金活跃度提升，权益类基金的赚钱效应正在凸显。Wind数据显示，截至9月18日，超97%的权益类基金今年实现正收益， 其中81只基金实现业绩翻番。偏股基金指数、股票基金指数均创近三年新高，年内涨幅超过26%，近一年来涨幅超过55%。 不过，全市场权益类基金众多，不妨看看机构、基金管理公司和公司内部员工的"作业"怎么做。 21财经·南财快讯记者梳理上半年公募基金持有人结构发现，以上三类主体基金各有不同布局偏好。具体来看，机构资金重金"押注"沪深300ETF， 同时大量加仓港股通科技主题ETF；基金公司真金白银加仓旗下养老FOF，以自有资金自购传递对长期布局的信心；基金公司员工持仓则兼顾价 值与成长风格，对行业ETF联接产品关注升温。 2025年上半年机构投资者持有权益基金情况 看机构投资者持有金额： 机构重金"押注"沪深300ETF 2025年上半年，宽基ETF成为机构们重金持有的主流。截至上半年末，机构投资者持有金额最高的20只权益类基金均为ETF产品，且宽基ETF占据 绝大多数。 其中，机构持有金额排名前四的基金均 ...

Core Viewpoint - The public fund market in China has seen significant growth in 2024, with institutional investors increasing their holdings in equity funds, particularly through ETFs, while individual investors continue to dominate in money market funds [1][4][6]. Group 1: Institutional Investor Trends - Institutional investors increased their total holdings in public funds by 3.5 trillion units compared to the end of 2023, with over 40% of their holdings in equity funds, marking a nearly 12 percentage point increase from the end of 2022 [2][5]. - The total size of equity funds rose from 1.88 trillion units at the end of 2022 to 3.03 trillion units by the end of 2024, representing a growth rate of 61% [4]. - The share of equity funds held by institutional investors grew from 5.67 trillion units at the end of 2022 to 12.8 trillion units by the end of 2024, a 126% increase [4][5]. Group 2: ETF Investment - Institutional investors have significantly increased their equity fund holdings primarily through ETFs, participating in market dips and rebounds [6][7]. - In 2024, major ETFs such as Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF saw net subscriptions exceeding 10 billion units, with institutional investors accounting for nearly 80% of the net inflows [8][10]. - The largest ETF, Huatai-PB CSI 300 ETF, had an institutional ownership increase from 66.04% at the end of 2023 to 83.58% by the end of 2024 [10][11]. Group 3: Shift from Active to Passive Funds - There has been a notable decline in institutional interest in actively managed equity funds, with 40 active funds experiencing net redemptions exceeding 1 billion units in 2024 [12]. - The shift towards passive investment strategies is evident, as passive funds surpassed active equity funds in A-share market capitalization for the first time in history [11]. - Only 11 actively managed funds received over 1 billion units in net subscriptions from institutional investors in 2024, indicating a preference for ETFs and a reduced reliance on actively managed funds [13].