导读：刚刚过去的2025年，是中国公募基金行业高质量发展的元年。作为主动权益基金，超额收益被放到了最重要的位置。即，只有长期能战 胜业绩基准的主动权益基金，才是真正有价值的。否则，持有人更应该买低费率、更透明灵活的ETF指数基金。 | 年份 | 华安事件驱动混合A | 沪深300 | 万得偏股基金指数 | | --- | --- | --- | --- | | 2020年 | 59.19% | 27.21% | 55.91% | | 2021年 | 30.84% | -5.20% | 7.68% | | 2022年 | -17.86% | -21.63% | -21.03% | | 2023年 | -8.63% | -11.38% | -13.52% | | 2024年 | 21.82% | 14.68% | 3.45% | | 2025年 | 38.06% | 17.66% | 33.19% | 数据来源：Wind；数据区间：2020年1月1日—2025年12月31日 跑赢市场一年不难，但是要连续六年跑赢有多难呢？ 根据Wind的统计，在2919只主动权益基金中，能够连续6年战胜沪深300和万得偏股基金 指 ...

Group 1 - The public fund industry in China is undergoing significant reform, shifting focus from "scale" to "return" as emphasized in the "Action Plan for Promoting High-Quality Development of Public Funds" released by the China Securities Regulatory Commission [1] - The plan aims to ensure that industry institutions prioritize the best interests of investors, integrating this principle into governance, product issuance, investment operations, and assessment mechanisms [1] - Data from Xinda Securities indicates that a majority of funds have underperformed against benchmarks, with approximately 30% of active equity funds showing excess returns below -20% over the past three years [1] Group 2 - A total of 82 actively managed equity funds established before 2021 have consistently outperformed the CSI 300 index from 2021 to 2024, with an average net value growth rate of 25.93% since 2021 [2] - The top-performing fund, Guangfa Multi-Factor Mixed Fund, achieved a net value growth rate of 85.68% since 2021, with a stock allocation of 83.09% as of the first quarter of 2025 [2] - The second-best performing fund, Jinxin Intelligent Mixed A, recorded a net value growth rate of 73.66%, heavily invested in the banking sector [3] Group 3 - As of May 16, 2025, 25 funds from the 82 long-term outperformers have seen their share increase by over 20% this year, with four funds doubling their shares [6] - The fund with the highest share growth is Huazhang Event-Driven Quantitative Mixed A, which increased by 386.19% since the beginning of 2025 [6] - Other notable funds with significant share growth include Jinxin Intelligent Mixed A and Huashang Runfeng Mixed A, both of which have also seen their total shares double [6]