| 证券代码 | 证券间称 | 单日净值增长率(%) | | 近1周回报(%) 今年以来回报(%) | 基金经理(现任) | 基金规模(乙元) | | --- | --- | --- | --- | --- | --- | --- | | 006167.OF | 德邦乐享生活A | -2.54 | 1.47 | 17.35 | 江杨磊,汪宇 | 0.5 | | 022852.OF | 中航优选领航A | -2.33 | 2.39 | 82.17 | 土木 | 4.43 | | 009693.OF | 富国积极成长一年 | -1.97 | -0.36 | 55.06 | 杨栋,盖洁之 | 5.78 | | 011629.OF | 银河核心优势A | -1.95 | 8.37 | 40.52 | 李帆 | 1.13 | | 002938.OF | 中银证券健康产业 | -1.95 | 1.66 | 37.67 | 李明蔚 | 1.59 | | 024455.OF | 银华成长智选A | -1.81 | 3.01 | 6.08 | 王晓川 | 4.32 | | 003230.OF | 创金合信医疗保健行业A | - ...

Core Viewpoint - Since September 24 of last year, the A-share market has experienced significant growth, with funds established around that time achieving notable returns [1][4]. Group 1: Fund Performance - Funds established at low points have not produced "doubling funds" this year, with average returns lagging behind the Shanghai and Shenzhen stock indices [2][8]. - Nearly 50 actively managed equity funds were "precisely established" during this period, with all included funds showing positive performance and an average return rate of 35.94% [5][6]. Group 2: Market Dynamics - The investment logic in the A-share market has shifted, with sectors like innovative pharmaceuticals and artificial intelligence leading the charge, resulting in several funds performing exceptionally well [4]. - The issuance of new equity funds was significantly impacted by market conditions, with only 50 billion units issued in July and August 2024, compared to 355 billion and 472 billion units in the same months this year [4]. Group 3: Fund Strategy and Holdings - Many funds that were established during low market conditions adopted a cautious investment strategy, focusing on high-dividend and value stocks, which limited their ability to capitalize on the subsequent market rally [8][9]. - For instance, the Allianz China Select fund initially invested in high-dividend stocks but later shifted to high-growth stocks to capture better returns [8]. Group 4: Dividend Resilience - Despite the recent market adjustments, high-dividend stocks have shown resilience, with expectations for increased dividend payouts as companies move past capital expenditure peaks [11][12]. - The long-term outlook for dividend assets remains positive, with a focus on stable cash flow companies that can provide consistent returns to investors [12].

Core Viewpoint - Since September 24 of last year, the A-share market has experienced significant growth, with funds established around that time achieving notable returns [1][3]. Fund Performance - Nearly 50 actively managed equity funds were "precisely established" during this period, with an average return of 35.94% across all funds, despite the challenging market conditions at the time of their launch [4][5]. - Specific funds such as Yongying Rong'an A and Allianz China Select A have seen returns of 89.09% and 74.96%, respectively, since their establishment [4][5]. Investment Strategy and Challenges - Many of the funds established during the low market point adopted a cautious investment strategy, focusing on dividend and value stocks, which led to underperformance compared to the broader market [2][6][8]. - The cautious positioning resulted in these funds missing out on the rapid market recovery, with some funds maintaining low exposure to high-growth sectors like technology [7][9]. Dividend Stocks Resilience - Despite the shift towards growth sectors, dividend-paying stocks have shown resilience, with expectations for increased dividend payouts as companies move past capital expenditure peaks [11][12]. - The long-term outlook for dividend assets remains positive, with a focus on stable cash flow companies that can provide consistent returns to investors [12].