截至发稿，蓝小康累计任职时间8年155天，现任基金资产总规模136.37亿元，任职期间最佳基金回报 162.08%， 任职期间最差基金回报48.53%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，中欧基金旗下1只基金位居金钼股份十大流通股东。中欧红利优享灵活配置混合A （004814）二季度新进十大流通股东，持有股数628.35万股，占流通股的比例为0.19%。根据测算，今 日浮亏损失约515.25万元。 中欧红利优享灵活配置混合A（004814）成立日期2018年4月19日，最新规模50.6亿。今年以来收益 39.85%，同类排名2427/8166；近一年收益38.08%，同类排名2378/8014；成立以来收益166.55%。 中欧红利优享灵活配置混合A（004814）基金经理为蓝小康。 10月10日，金钼股份跌5.02%，截至发稿，报15.53元/股，成交6.73亿元，换手率1.32%，总市值501.09 亿元。 资料显示，金堆城 ...

Core Viewpoint - The AI Fund, China Europe Dividend Enjoyment Flexible Allocation Mixed A (004814), reported a profit of 359 million yuan in Q2 2025, with a weighted average profit per fund share of 0.1336 yuan, and a net asset value growth rate of 8.22% for the period [2] Fund Performance - As of July 18, the fund's unit net value was 1.905 yuan, with a three-month net value growth rate of 14.13%, ranking 16 out of 82 in its category [3] - The fund's six-month net value growth rate was 20.09%, ranking 6 out of 82, and the one-year growth rate was 22.31%, also ranking 6 out of 77 [3] - Over the past three years, the fund achieved a net value growth rate of 41.31%, ranking 2 out of 57 [3] - The fund's Sharpe ratio over the past three years was 0.7644, ranking 4 out of 57 [8] - The maximum drawdown over the past three years was 19.38%, with the largest single-quarter drawdown occurring in Q1 2020 at 19.96% [10] Fund Holdings and Strategy - As of June 30, the fund maintained an average stock position of 91.42% over the past three years, compared to the category average of 84.99% [13] - The fund's top ten holdings as of Q2 2025 included Zijin Mining, New China Life Insurance, China Life Insurance, China Ping An, Construction Bank, Zhongjin Gold, Ningbo Bank, China National Heavy Duty Truck Group, China Gold International, and SANY Heavy Industry [17] - The fund manager expressed optimism about the stability and certainty of the Chinese economy, focusing on undervalued assets in both Hong Kong and A-shares, while also highlighting risks from Western debt and geopolitical conflicts [2]

Core Viewpoint - The article discusses the significant reforms introduced in the public fund industry through the "Action Plan for Promoting High-Quality Development of Public Funds," emphasizing the importance of performance benchmarks and the need for a more rational setting of these benchmarks to improve fund performance [2][6][12]. Summary by Sections Performance Benchmarks - The document highlights the critical role of performance benchmarks for public funds, which serve as a standard for fund managers to achieve and exceed [6][7]. - Most funds currently use indices like CSI 300, CSI 800, and CSI 500 as benchmarks, with nearly half of active funds benchmarked against the CSI 300 [7]. Fund Performance Analysis - Recent data indicates that only 30% of funds have outperformed their benchmarks over the past three years, with nearly 50% of products underperforming by more than 10% [12]. - The average excess return relative to benchmarks has been negative in recent years, with a notable decline in the proportion of funds outperforming benchmarks from 2020 to 2024 [13][14]. Active Fund Management Challenges - Continuous outperformance is challenging, especially during market downturns, where only about 20% of active funds managed to outperform their benchmarks from 2022 to 2024 [14]. - A study identified only 46 funds (2.2% of the sample) that consistently outperformed their benchmarks over five years, with 25 of these having a combined scale of over 1 billion [17]. Fund Manager Performance - The article lists funds that have consistently outperformed their benchmarks over five years, noting that many of these funds are managed by well-regarded fund managers [21][22]. - The performance of fund managers is evaluated not only on returns but also on their ability to control drawdowns, with some funds experiencing significant drawdowns despite strong returns [23][24]. Notable Fund Managers - The article mentions specific fund managers who have successfully managed funds that consistently outperform benchmarks, highlighting their investment philosophies and strategies [25][36]. - It also discusses the impact of fund manager changes on fund performance, particularly in the context of recent departures of notable managers [29][33]. Conclusion on Fund Evaluation - The article concludes that while outperforming benchmarks is a key metric for evaluating fund performance, it should not be the sole criterion, as other factors such as risk management and drawdown control are equally important [44].