Core Insights - The article reviews the top-performing mutual funds over the past decade, highlighting those that have reached historical highs from June 12, 2015, to January 14, 2026, during which the Shanghai Composite Index fell from 5178 to 4190 [1][4]. Group 1: Top Active Equity Funds - The top ten active equity funds are led by Dongwu Mobile Internet A, which achieved a return of 507.12% [1][5]. - Other notable funds include Huabao Resource Preferred A (335.75%), Anxin Advantage Growth A (312.98%), and Dachen New Industry A (305.01%) [1][3]. - The funds were selected based on the current fund managers having over five years of management experience [1]. Group 2: Overall Market Performance - The overall market's top ten funds include Huashang Advantage Industry A, Guotai Nasdaq 100, and Dongwu Mobile Internet A, with the latter being the only active equity fund with significant management experience [4][5]. - The analysis indicates that six of the top ten funds are Nasdaq 100 funds, suggesting a strong performance in the U.S. tech sector [6]. - The article emphasizes the importance of holding onto high-performing funds and trusting the fund managers to maximize returns [6].

Core Insights - The A-share market has reached a ten-year high, drawing attention to equity funds, with over 90% of the 1,053 equity funds showing positive returns over the past decade [1] Fund Performance - The top-performing fund, Dachen Gaoxin A, has achieved a cumulative return of 373.82% over the past ten years, with a fund size of 17.916 billion [2] - Dachen Gaoxin A has a total return of 400.83% since its inception, with an annualized return of 16.49%, ranking first among ordinary equity funds [3] - The fund's performance in recent years includes a return of 10.82% this year, 27.12% over the past year, and 43.18% over the past three years [3][7] Historical Returns - Dachen Gaoxin A has shown strong performance across various market conditions, with returns of 60.26% in 2020 and 27.95% in 2021, while it only declined by 17.92% in 2022, outperforming benchmarks [5][7] - The fund's returns for the last few years include 10.82% in 2025, 29.01% in 2024, and 5.23% in 2023 [6][7] Management Stability - The fund has been managed by only two managers since its inception, with an average tenure of 6.84 years, indicating management stability [7] - Current manager Liu Xu has achieved a total return of 397.35% since taking over in 2015, significantly outperforming the benchmark [7] Portfolio Composition - As of June 30, 2025, the fund's top holdings are concentrated in telecommunications, home appliances, manufacturing, and energy sectors, with a total market value close to 10 billion [9] - The fund has made slight adjustments to its holdings, increasing positions in companies like Midea Group and China National Offshore Oil, while reducing stakes in Tencent Holdings and China Unicom [9][10] Investment Strategy - Dachen Gaoxin A's success is attributed to in-depth fundamental research and strict value investment standards, showcasing the long-term viability of value investing in complex market environments [11]

Core Insights - The Shanghai Composite Index reached a nearly 10-year high, closing at 3728.03 points on August 18, with a peak of 3745.94 points during the day, leading to significant performance improvements in active equity funds [1][2] - As of August 18, among the 1154 active equity funds established for over 10 years, 280 funds (approximately 24%) have achieved over 100% returns, indicating a stark performance differentiation in the long-term [2][4] - Notably, three funds have returned over 400% in the past decade, with specific returns of 471.24%, 432.28%, and 430.82% for Huashang New Trend Preferred, Jiao Yin Trend Priority A, and Huashang Advantage Industry respectively [2][3] - Conversely, there are 96 funds (about 10%) that have reported losses over the past 10 years, with three funds losing more than 50% of their value [4][5] Performance of Top Funds - The top-performing funds include Huashang New Trend Preferred, Jiao Yin Trend Priority A, and Huashang Advantage Industry, all of which have shown exceptional long-term returns [2][3] - Jiao Yin Trend Priority A, managed by Yang Jinjing since May 2020, has achieved a return of 186.78% during his tenure, with an annualized return of 22.04% [3] - Other notable funds with returns exceeding 300% include Dongwu Mobile Internet A, Huashan Media Internet A, and others, showcasing the potential of quality active management [3] Underperforming Funds - A significant number of funds have underperformed, with 96 funds showing losses over the past decade, highlighting the challenges in active fund management [4][5] - The fund with the largest loss is Fangzheng Fubang Innovation Power A, which has experienced a loss of over 50% and has had 10 different managers since its inception [4] - Taiping Flexible Allocation, the first active equity fund from Taiping Fund, has lost 54.26% over the past 10 years, indicating a failure to meet performance expectations [5] Investment Insights - The disparity in performance among active equity funds underscores the importance of selecting quality funds based on historical performance, manager stability, and investment strategy [6] - Funds that have doubled in value over the past decade typically excel in industry allocation, stock selection, and risk management, demonstrating effective active management capabilities [6]

Core Viewpoint - The A-share market reached a nearly 10-year high on August 18, with the Shanghai Composite Index rising 0.85% to close at 3728.03 points, and the total market capitalization of A-shares exceeding 100 trillion yuan for the first time in history [1][2]. Market Performance - Multiple indices hit recent highs, including the North Star 50 and the Shenzhen Component Index, which surpassed their previous peaks from October 8 of the previous year [2]. - As of August 18, 1154 active equity funds that have been established for over 10 years were analyzed, with 280 funds (approximately 24%) achieving a net value increase of over 100% in the past decade [2][6]. Fund Performance - Three funds reported returns exceeding 400% over the past ten years: Huashang New Trend Preferred (471.24%), Jiao Yin Trend Priority A (432.28%), and Huashang Advantage Industry (430.82%) [2][5]. - Additionally, 11 funds returned over 300%, 49 funds over 200%, and 272 funds doubled their net value [1][2]. Fund Management Insights - The two top-performing funds, Huashang New Trend Preferred and Huashang Advantage Industry, were previously managed by renowned fund manager Zhou Haidong, indicating a legacy of strong performance [4]. - Jiao Yin Trend Priority A has been managed by five different fund managers since its inception, with the current manager, Yang Jinjing, achieving a return of 186.78% since May 2020 [5]. Performance Disparity - Despite the strong performance of many funds, there is a notable disparity, with 96 funds (about 10%) experiencing losses over the past decade, including three funds with losses exceeding 50% [6][9]. - The fund with the largest loss, Founder Fubon Innovation Power A, has seen a decline of 60% since its inception, reflecting the challenges faced by some funds in the market [9].