写在文章前的声明：在本文之前的说明：本文中所列的投资信息，只是一个对基金资产净值进行排行的客观描述，并无主观倾向性，也不是投资建议，纯属 娱乐性质。 | 排名 | 代码 | 基金简称 | 2025-10-31 | | 2025-10-30 | | EMISTO | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 单位净值3 | 累计净值$ | 单位净值8 | 累计净值3 | | | 1 | 022853 | 中航优选领航混合发起C | 1.8264 | 1.8264 | 1.6624 | 1.6624 | 0.16 | | 2 | 022852 | 中航优选领航混合发起A | 1.8359 | 1.8359 | 1.6711 | 1.6711 | 0.16 | | 3 | 005433 | 申万菱信医药先锋股票A | 0.5106 | 0.5106 | 0.4719 | 0.4719 | 0.03 | | 4 | 015171 | 申万菱信医药先锋股票C | 0.5019 | 0.5019 | 0.4639 | 0.4639 | 0.03 | ...

Market Overview - In August 2025, A-shares experienced a significant rally, with the Shanghai Composite Index reaching a nearly 10-year high, increasing by 7.97%, while the Shenzhen Component Index rose by 15.32% and the ChiNext Index surged by 24.13% [1] - The trading volume reached historical highs, indicating active market participation [1] - As of August 2025, there were 9,037 equity funds (over 60% in stocks) established for more than one year, with 3,668 funds achieving historical net value highs in August, representing approximately 40.59% [1] One-Year Performance - Among the 1,569 equity funds with performance data for the past year, 7 funds reported returns exceeding 200%, driven by the "924" market rally and subsequent rebounds since April 2025 [2] - The top five funds based on one-year returns include: 1. CITIC Construction North Exchange Selected Two-Year Open Mixed A (Code: 016303) - 261% return 2. Huaxia North Exchange Innovative Small and Medium Enterprises Selected Two-Year Open Mixed Initiated (Code: 014283) - 232% return 3. China Europe Digital Economy Mixed Initiated A (Code: 018993) - 232% return 4. Debon Xinxing Value Flexible Allocation Mixed A (Code: 001412) - 119.73% return 5. Xin'ao Performance Driven Mixed C (Code: 016371) - 112.15% return [2][6] Three-Year Performance - For the three-year performance, 974 equity funds were analyzed, with the top five funds showing returns above 119% [9] - The leading funds include: 1. Huaxia North Exchange Innovative Small and Medium Enterprises Selected Two-Year Open Mixed Initiated (Code: 014283) 2. Huitianfu North Exchange Innovative Selected Two-Year Open Mixed A (Code: 014279) 3. CITIC Construction North Exchange Selected Two-Year Open Mixed A (Code: 016303) [9][11] Five-Year Performance - In the five-year category, 453 equity funds were evaluated, with the top five funds achieving returns exceeding 138% [14] - The top funds include: 1. Dongwu Mobile Internet Mixed A (Code: 001323) 2. Dongwu New Trend Value Line Mixed (Code: 001322) 3. Jinyuan Shun'an Yuanqi Flexible Allocation Mixed (Code: 004685) [14][16] Fund Management Insights - Liu Yuanhai, managing the top two funds in the five-year category, emphasizes continued investment in AI technology sectors, anticipating a potential industry turning point next year [18]

Core Viewpoint - The current market environment is characterized by a mix of excitement and caution among investors and fund companies, with a notable increase in the Shanghai Composite Index reaching a nearly ten-year high, yet many investors are opting to redeem funds rather than reinvest [2][3]. Group 1: Market Dynamics - The A-share market is experiencing a surge, but investor behavior is mixed, with some choosing to redeem funds while others are entering the market [5][6]. - Despite the market's recovery, many investors are redeeming funds to lock in profits or recover losses, particularly those with funds that have recently returned to their original value [6][7]. - Data from Wind indicates that over half of the funds established at the 2021 market peak have returned to a net value of 1, achieving breakeven for investors [6]. Group 2: Fund Company Responses - Fund companies are experiencing a disconnect with the market's rapid recovery, with many feeling unprepared for the sudden shift towards equity products [12][13]. - Some fund companies have reported net subscriptions for their equity funds, particularly those focused on growth sectors, while others are still facing net redemptions [7][9]. - The overall inflow of funds remains limited, with daily net inflows averaging around 10 million to 20 million, representing only 1% to 2% of total trading assets [11]. Group 3: Investor Sentiment - There is a noticeable increase in inquiries about funds at bank branches, indicating a growing interest among retail investors, although actual purchases remain modest [15]. - Investors are showing a preference for funds in high-growth sectors such as semiconductors and innovative pharmaceuticals, reflecting a shift in sentiment towards more aggressive investment strategies [9][15]. - Many industry participants express a desire for the current market rally to progress slowly and steadily, allowing for a healthier accumulation of capital and investment opportunities [16][19]. Group 4: Future Outlook - Analysts describe the current market as a "healthy bull," with strong underlying support from policy and capital, suggesting that the market may still be in its early stages of growth [17]. - The potential release of significant capital from various sectors, including bank deposits and real estate, could further accelerate market momentum in the future [17].

Core Viewpoint - The article provides a ranking of open-end funds based on their net asset value growth, highlighting the top and bottom performers in the market as of July 28, 2025 [2][4]. Fund Performance Summary Top 10 Funds - The top 10 funds with the highest net value growth on July 28, 2025, include: 1. 泰信汇盈债券A: Unit Net Value 1.3064, Cumulative Net Value 1.3760, Daily Growth 27.75% 2. 泰信汇盈债券C: Unit Net Value 1.1155, Cumulative Net Value 1.1851, Daily Growth 7.74% 3. 德邦鑫星价值A: Unit Net Value 2.1317, Cumulative Net Value 2.2697 4. 德邦鑫星价值C: Unit Net Value 2.0496, Cumulative Net Value 2.1976 5. 信澳业绩驱动混合A: Unit Net Value 0.9926, Cumulative Net Value 0.9926 6. 信澳业绩驱动混合C: Unit Net Value 0.9751, Cumulative Net Value 0.9751 7. 东兴数字经济混合发起C: Unit Net Value 1.1123, Cumulative Net Value 1.1123 8. 东兴数字经济混合发起A: Unit Net Value 1.1140, Cumulative Net Value 1.1140 9. 信澳转型创新股票C: Unit Net Value 1.0330, Cumulative Net Value 1.0330 10. 信澳转型创新股票A: Unit Net Value 1.0520, Cumulative Net Value 1.0520 [2][4]. Bottom 10 Funds - The bottom 10 funds with the lowest net value growth on July 28, 2025, include: 1. 恒生前海恒源昭利债券E: Unit Net Value 1.2406, Cumulative Net Value 1.2406 2. 国泰中证煤炭ETF: Unit Net Value 1.0823, Cumulative Net Value 2.4246 3. 招商中证煤炭等权指数C: Unit Net Value 1.9518, Cumulative Net Value 1.9518 4. 招商中证煤炭等权指数E: Unit Net Value 1.9423, Cumulative Net Value 1.9423 5. 招商中证煤炭等权指数A: Unit Net Value 1.9594, Cumulative Net Value 1.3858 6. 国联煤炭C: Unit Net Value 1.7540, Cumulative Net Value 1.7540 7. 富国中证煤炭指数C: Unit Net Value 1.9060, Cumulative Net Value 1.9060 8. 国联煤炭A: Unit Net Value 1.7680, Cumulative Net Value 1.7680 9. 国泰中证煤炭ETF联接C: Unit Net Value 1.9107, Cumulative Net Value 2.2817 10. 国泰中证煤炭ETF联接E: Unit Net Value 1.9374, Cumulative Net Value 1.9374 [4][5]. Market Analysis - The Shanghai Composite Index showed a slight recovery, with a trading volume of 1.76 trillion, and the number of advancing stocks outnumbered declining ones at 2781 to 2438. The leading sectors included insurance, components, and communication equipment, with gains exceeding 2% [7].