中银证券中证500ETF（515190）基金经理为刘先政、张艺敏。 截至发稿，刘先政累计任职时间7年267天，现任基金资产总规模2.87亿元，任职期间最佳基金回报 118.04%， 任职期间最差基金回报-34.66%。 10月21日，天风证券涨5.3%，截至发稿，报5.36元/股，成交12.10亿元，换手率2.67%，总市值539.97亿 元。 资料显示，天风证券股份有限公司位于湖北省武汉市武昌区中北路217号天风大厦2号楼，成立日期2000 年3月29日，上市日期2018年10月19日，公司主营业务涉及证券经纪;证券投资咨询;与证券交易、证券 投资活动有关的财务顾问;证券投资基金代销;证券承销与保荐;证券自营;证券资产管理;融资融券;代销金 融产品;为期货公司提供中间介绍业务。主营业务收入构成为：证券经纪业务55.47%，证券自营业务 40.06%，投资银行业务34.81%，资产管理业务14.23%。 从基金十大重仓股角度 数据显示，中银证券旗下1只基金重仓天风证券。中银证券中证500ETF（515190）二季度持有股数8.18 万股，占基金净值比例为0.46%，位居第八大重仓股。根据测算，今日浮盈赚取约2 ...

Group 1 - The announcement from China International Capital Corporation indicates the departure of Ji Wei from the management of two ETFs: the China Securities Entrepreneur Board ETF and the China Securities 500 ETF [1][2] - Ji Wei has a background in fund management, having previously worked at Huaan Fund Management Co., Ltd. and Huian Fund Management Co., Ltd. before joining China International Capital Corporation in October 2019 [1] - The China Securities Entrepreneur Board ETF, established on September 29, 2020, has a year-to-date return of 30.32% and a cumulative net value of 1.0409 yuan as of September 4, 2025 [1] - The China Securities 500 ETF, established on April 30, 2020, has a year-to-date return of 18.03% and a cumulative net value of 1.3914 yuan as of September 4, 2025 [1]

Core Viewpoint - The recent appointment of Liu Xianzheng as the fund manager for four passive index funds at Zhongyin Securities raises questions about the company's management decisions and the future of the previous manager, Ji Wei, whose performance has been under scrutiny [2][7]. Fund Manager Changes - Zhongyin Securities announced the appointment of Liu Xianzheng as the fund manager for four products, transitioning from a dual-manager to a three-manager model, which is interpreted as a signal of Ji Wei's potential departure [2][6]. - Ji Wei has a history of poor performance, with all funds he managed under Zhongyin Securities recording losses, including a -38.73% return for the Zhongyin Securities Ruiyi Mixed Fund [4][6]. Performance Analysis - Ji Wei's management history includes multiple funds with negative returns, such as the Zhongyin Securities Xiangrui Mixed Fund, which recorded a -14.9% return during his tenure [4][6]. - Liu Xianzheng's previous experience does not include managing passive index funds, raising concerns about his capability in this new role [7][9]. Fund Management Context - The shift to a three-manager model for Ji Wei's funds is unusual in the industry, potentially complicating decision-making and diluting accountability [6][9]. - Liu Xianzheng's past performance in other fund types has also been disappointing, with significant losses recorded in funds he managed prior to this appointment [8][9].

Core Viewpoint - The announcement from China International Capital Corporation (CICC) highlights the appointment of Liu Xianzheng as a new fund manager for multiple ETFs, indicating a strategic move to enhance fund management capabilities and potentially improve fund performance [1][2]. Fund Performance Summary - **CICC CSI 500 ETF**: Established on April 30, 2020, with a year-to-date return of 17.49% and a total return since inception of 38.51%, with a cumulative net value of 1.3851 yuan as of August 18, 2025 [1]. - **CICC ChiNext ETF**: Established on September 29, 2020, showing a year-to-date return of 22.32% but a total return since inception of -2.30%, with a cumulative net value of 0.9770 yuan as of August 18, 2025 [1]. - **CICC CSI A500 Index A/C**: Launched on March 19, 2025, with returns of 11.82% and 11.70% for A and C shares respectively since inception, and cumulative net values of 1.1182 yuan and 1.1170 yuan as of August 18, 2025 [1]. Fund Manager Appointment Details - Liu Xianzheng has been appointed as a new fund manager for the CICC CSI 500 ETF, CICC ChiNext ETF, and CICC CSI A500 Index, joining existing managers Zhang Yimin and Ji Wei [3][4].

Group 1 - The core point of the news is the appointment of Liu Xianzheng as a new fund manager for the Zhongyin Securities CSI 500 ETF, effective from August 19, 2025, alongside existing managers Ji Wei and Zhang Yimin [1] - As of August 18, 2025, the net value of the Zhongyin Securities CSI 500 ETF was 1.3851, reflecting a daily increase of 1.5% and a yearly increase of 43.67% [1] Group 2 - Liu Xianzheng holds a master's degree in Software Engineering from Peking University and has extensive experience in fund management, having worked in various financial institutions since 2014 [2] - His previous roles include positions at Zhongcheng Trust, Taiping Life Insurance, Taiping Fund Management, and Nord Fund Management, where he served as a fund manager assistant [2] - Liu has managed several public funds, with notable performance including a 119.28% return for the Nord New Enjoy Flexible Allocation Mixed Fund during his tenure [2]

Summary of Key Points Core Viewpoint - The trading volume of the CSI Small Cap 500 Index ETF increased significantly today, indicating heightened market activity and investor interest in this segment [1][2]. Trading Volume and Changes - The total trading volume of the CSI Small Cap 500 Index ETF reached 1.628 billion yuan, an increase of 418 million yuan from the previous trading day, representing a growth rate of 34.51% [1]. - Specific ETFs showed notable increases in trading volume: - Southern CSI 500 ETF (510500) had a trading volume of 1.088 billion yuan, up 291 million yuan, with a growth rate of 36.47% [2]. - Huaxia CSI 500 ETF (512500) saw a trading volume of 158 million yuan, an increase of 70.726 million yuan, with a growth rate of 81.05% [2]. - Jiashi CSI 500 ETF (159922) recorded a trading volume of 159 million yuan, up 21.474 million yuan, with a growth rate of 15.59% [2]. - Other ETFs with significant increases in trading volume included: - Industrial Bank CSI 500 ETF (510570) and Ping An CSI 500 ETF (510590), which saw increases of 3397.96% and 3095.99%, respectively [1]. Market Performance - As of market close, the CSI Small Cap 500 Index (000905) declined by 0.88%, while the average decline for related ETFs was 0.72% [2]. - The top-performing ETF was Ping An CSI 500 ETF (510590), which increased by 0.22% [2]. - The ETFs with the largest declines included Bank of China Securities CSI 500 ETF (515190) and E Fund CSI 500 ETF (510580), which fell by 1.02% and 1.01%, respectively [2].