"日光基"频现 11月14日，中欧基金发布公告称，中欧鑫悦回报一年持有期混合11月13日结束募集，该基金募集期内有 效认购申请总金额（不含募集期利息）已超过限额15亿元。据悉，这只基金的募集时间仅为一天。 这是基金经理蓝小康近1个月来的第二只"日光基"。10月21日晚间，中欧基金发布《中欧价值领航混合 基金合同生效公告》。根据公告，中欧价值领航混合基金一日募集资金为19.7亿元，获近万户有效认 购。其中，基金管理人运用固有资金认购900万份，基金管理人的从业人员认购111.89万份，两者合计 占比约为0.51%。公告显示，中欧价值领航混合基金原定发售日期为10月16日至10月28日，但该基金仅 发售一天就提前结束募集。 11月14日，中欧基金发布公告称，中欧鑫悦回报一年持有期混合已于11月13日结束募集，该基金募集期 内有效认购申请总金额（不含募集期利息）已超过限额15亿元。据悉，该基金拟由基金经理蓝小康管 理。 10月末，由蓝小康担纲的中欧价值领航混合基金亦仅发售一天，募集近20亿元。此外，鹏华启航量化选 股混合、华泰柏瑞盈泰稳健3个月持有FOF等多只近期新发基金也出现"一日结募"。 公开资料显示，截至11 ...

新基金发行市场再现"日光基"。 10月以来，已有近40只基金宣布提前结募，其中不乏主动权益类产品，且多只为"一日售罄"的小爆款。 中欧鑫悦回报一年持有期混合"一日售罄"，启动比例配售 11月13日下午，中欧基金接连发布关于中欧鑫悦回报一年持有期混合提前结束募集及进行比例配售的公告。 根据公告，中欧鑫悦回报一年持有期混合于2025年11月13日开始募集，原定募集截止日为2025年11月26日。截至2025年11月13日，该基金累计有效认购申 请金额已超过本次募集规模上限15亿元（不含募集期利息），公司决定将本基金募集截止日提前至2025年11月13日。同时，将对2025年11月13日的有效认 购申请采用"末日比例确认"的原则予以部分确认。 11月13日，中欧基金发布公告称，旗下中欧鑫悦回报一年持有期混合发行首日便达到15亿元募集上限，提前结束募集，并启动比例配售。 权益基金发行持续回暖 近期，已有多只权益基金宣布提前结束募集。据记者不完全统计，10月以来，近40只基金宣布提前结募，其中不乏主动权益类产品。 范妍掌舵的富国兴和混合于11月3日首发，随后富国基金发布公告，发行首日募集金额已突破30亿元募集规模上限， ...

【导读】中欧鑫悦回报一年持有期混合"一日售罄"，启动比例配售 新基金发行市场再现"日光基"。 10月以来，已有近40只基金宣布提前结募，其中不乏主动权益类产品，且多只为"一日售罄"的小爆款。 中欧鑫悦回报一年持有期混合"一日售罄" 启动比例配售 11月13日下午，中欧基金接连发布关于中欧鑫悦回报一年持有期混合提前结束募集及进行比例配售的公告。 根据公告，中欧鑫悦回报一年持有期混合于2025年11月13日开始募集，原定募集截止日为2025年11月26日。截至2025年11月13日，该基金累计有效认购申 请金额已超过本次募集规模上限15亿元（不含募集期利息），公司决定将本基金募集截止日提前至2025年11月13日。同时，将对2025年11月13日的有效认 购申请采用"末日比例确认"的原则予以部分确认。 11月13日，中欧基金发布公告称，旗下中欧鑫悦回报一年持有期混合发行首日便达到15亿元募集上限，提前结束募集，并启动比例配售。 公开资料显示，中欧鑫悦回报一年持有期混合基金拟任基金经理为中欧基金权益投决会委员、中欧基金价值策略组负责人蓝小康。 值得一提的是，就在上个月，中欧基金旗下刚诞生过一只小爆款产品——中欧价值 ...

Core Viewpoint - The article highlights the rapid success of the China Europe Fund's new product, the China Europe Xinyue Return One-Year Holding Mixed Fund, which reached its fundraising cap of 1.5 billion yuan on its first day of issuance, leading to an early closure and proportional allocation of subscriptions [2][5]. Fundraising Trends - Since October, nearly 40 funds have announced early closures, with many being actively managed equity products that sold out on the first day [3][9]. - The trend of early fundraising closures indicates a resurgence in the equity fund issuance market [8]. Fund Manager Profile - The fund manager for the China Europe Xinyue Return One-Year Holding Mixed Fund is Lan Xiaokang, who is also the head of the Value Strategy Group at China Europe Fund [6]. - Lan Xiaokang has a strong track record, having managed the China Europe Hongli Youxiang Mixed Fund, which has consistently outperformed benchmarks and has a maximum drawdown significantly lower than the Shanghai Composite Index [6]. Investment Style - Lan Xiaokang's investment style is characterized by "contrarian thinking" and "balanced allocation," focusing on achieving a dynamic balance among valuation, corporate quality, and long-term growth potential [7].

Core Viewpoint - The active equity fund market has seen a significant increase in new fund issuance this year, with a doubling of the issuance scale compared to the previous year, indicating a strong recovery in the A-share market and a shift of household savings into capital markets [1][6]. Fund Issuance Trends - As of November 10, the number of new funds issued this year reached 1,354, the highest in nearly three years, with a total issuance scale of 1.02 trillion yuan, up over 6% from the same period last year [4][5]. - The issuance scale of active equity funds reached approximately 1389.72 billion yuan, compared to only 567.8 billion yuan in the same period last year, marking a year-on-year doubling [5]. Popularity of New Funds - Several new funds have sold out on the first day of issuance, indicating strong demand. For example, the 富国兴和混合 fund raised about 30 billion yuan in a single day [4]. - Notable funds that have also seen rapid sales include 鹏华启航量化选股混合 and 中欧价值领航混合, both achieving significant fundraising within a short period [4]. Future Outlook - Industry experts predict that the sales of active equity funds will continue to recover, providing a steady influx of capital into the A-share market, which could create a positive feedback loop [1][6]. - However, there are concerns that if the market experiences a downturn, fund issuance may cool off, leading to a potential shift of funds back to high-performing existing funds [1][6].

本报记者 彭衍菘 今年以来，权益类基金发行持续火热。众多新发基金在发行首日便迅速售罄，尤其是多只绩优基金经理掌舵的新产品以及 科技主题基金更易跻身"日光基"行列。 透过陆续披露的基金三季报，基金经理普遍表达了对科技投资前景的信心。他们认为，尽管市场近期出现了一定程度的波 动，但科技行业的长期发展趋势依然向好。半导体、算力、人工智能基础设施和新能源等领域，将继续保持高景气度，为投资 者提供丰富的投资机会。 同时，部分基金经理也强调了顺周期品种的投资价值。他们认为，在当前市场环境下，叠加消费和科技方向的投资机会备 受关注。这些品种不仅具有科技行业的成长性，还受益于消费市场的稳定增长，因此具有较高的投资潜力。 中欧信息科技混合发起基金经理杜厚良在三季报中表示，后续短期会重点关注将集中在大模型应用、AI端侧、海外算力需 求溢出的存储等方向。 前海开源基金首席经济学家杨德龙在接受《证券日报》记者采访时表示，科技主题基金在年内权益类基金中的领先地位已 经得到了市场的广泛认可。投资者在配置资产时，可关注科技行业的长期发展趋势和基金经理的投资策略。 近日，中欧基金公告称，决定提前结束旗下中欧价值领航混合的募集。该基金首次募集 ...

Core Insights - The number of new funds established in 2023 has surpassed the total for the entire year of 2022, indicating a recovery in the fund issuance market [2][3][5] - The stock fund segment has particularly thrived, with a significant increase in both the number and scale of new stock funds, reflecting strong investor interest [4][5][6] Fund Issuance Overview - As of October 25, 2023, a total of 1,187 new funds have been established, exceeding last year's total of 1,135 funds, showcasing a recovery trend in fund issuance [5] - The total fundraising amount for new funds this year is 922.347 billion units, which is still 20% lower than last year's total of 1,183.833 billion units; the average issuance size is at a historical low of 777 million units, excluding the year 2000 [5] - Stock funds have been the main focus, with 676 new stock funds established this year, accounting for nearly 57% of all new funds, marking a historical high [5] Stock Fund Performance - The total fundraising for stock funds this year is 345.653 billion units, surpassing the total for the years 2022, 2023, and 2024, and representing 37.5% of the total fundraising for new funds, the highest since 2012 [5] - Despite the increase in the number of stock funds, the average fundraising size remains relatively small at 511 million units [5] Active Equity Fund Trends - The issuance of active equity funds has shown signs of structural recovery, with several funds announcing early closure of their fundraising periods due to high demand [7][8] - Notable examples include the Invesco Great Wall Fund and the Harvest Fund, which both closed their fundraising early due to strong subscription amounts [8] - However, the market remains uneven, with significant differences in the performance of new fund issuances, particularly between passive index funds and active equity funds [9] Market Dynamics - The current market environment has led to a rise in investor risk appetite, contributing to the improved fundraising performance of some new funds [9] - Despite the positive trends, older funds continue to face challenges in marketing and growth, as many are unable to keep pace with market changes [9] - The ongoing market heat and recovery in investor confidence are expected to support further improvements in the issuance of active equity funds, with a focus on high-growth sectors and well-known fund managers likely to attract more capital [9]

Core Insights - The recent launch of the China Europe Value Navigation Mixed Fund achieved a net subscription amount of 1.97 billion yuan within just one day of its offering, indicating strong demand for equity funds despite a volatile A-share market [1][2][3] Fund Performance and Trends - The China Europe Value Navigation Fund's subscription limit was set at 2 billion yuan, and it successfully raised 1.97 billion yuan by the end of its first day of offering [2] - The fund manager, Lan Xiaokang, has a strong track record, with his managed funds achieving significant returns, including a 170.24% return for the China Europe Dividend Enjoy Fund [2] - The performance of newly launched equity funds has been notable, with several funds achieving over 20% net value growth in the past month, particularly in technology and resource sectors [1][4][5] Market Dynamics - Despite the A-share market's stagnation, the issuance of equity funds remains robust, with 30 public funds opening for subscription in the week of October 20-26, 2023, and equity funds making up 76.67% of this total [3] - Over 10 actively managed equity funds have raised more than 1 billion yuan since the third quarter of this year, with some exceeding 2 billion yuan [3] Sector Focus - Technology and resource-themed funds have shown strong performance, with specific funds like Taikang Resource Selection and Huaxia Quantitative Stock Selection achieving net value growth rates of 23.28% and 25.2%, respectively [4][5] - The disparity in performance among newly launched funds is significant, with some funds experiencing negative returns while others, particularly those focused on technology and AI, have excelled [5][6] Future Outlook - Fund managers remain optimistic about the future of technology investments, emphasizing the potential of cyclical stocks and opportunities that combine consumption and technology [1][5] - Morgan Asset Management highlights strong performance in sectors like semiconductors and AI infrastructure, while also noting the market's current consolidation phase [6]

Core Insights - The Central European Value Navigation Mixed Fund completed its fundraising in just one day, achieving a net subscription amount of 1.97 billion yuan, reflecting strong demand for newly launched active equity funds [1][2]. Fund Performance and Manager Insights - The fund's manager, Lan Xiaokang, has a strong track record, with the highest return of 170.24% from the Central European Dividend Enjoyment Fund [2]. - Lan Xiaokang emphasizes the potential for both traditional industries and new productive forces to perform well, particularly focusing on leading companies in traditional sectors [2]. Market Trends and Fund Issuance - The recent success of the Central European Value Navigation Fund is indicative of a broader trend, with 30 public funds opening for subscription in the week of October 20-26, 2023, and 76.67% of them being equity funds [3]. - Since the third quarter, over 10 active equity funds have raised more than 1 billion yuan, with some exceeding 2 billion yuan [3]. Performance Disparities Among New Funds - New funds have shown significant performance disparities, particularly in technology and resource sectors, with some funds achieving over 20% net value growth in just over a month [4][5]. - Among the newly established funds, the highest net value growth rates include 25.2% for the China International Selection Fund and 23.28% for the Taikang Resource Selection Fund [4]. Investment Focus and Future Outlook - Fund managers remain optimistic about technology investments, particularly in sectors like semiconductors and AI, while also highlighting the investment value of cyclical stocks [5]. - There is a divergence of opinions regarding market style shifts, with some analysts suggesting a rebalancing between technology and value styles rather than a clear switch [5].