Core Viewpoint - The article discusses the performance and strategy of the "Bosera Smart Quantitative Multi-Factor Equity Fund" (Bosera Smart), highlighting its ability to achieve excess returns through a combination of quantitative models and subjective analysis [3][4][18]. Fund Overview - Bosera Smart was established in November 2021 and has been managed by Liu Zhao since inception, achieving a total return of over 50% and an annualized return of 10.6% [4][6]. - The fund currently has a combined scale of 26.66 billion [3]. Performance Analysis - The fund has consistently outperformed the CSI 300 index and its performance benchmark since its inception, demonstrating stability in both bull and bear markets [6][7]. - The maximum drawdown since inception is -34%, indicating it is suitable for investors with a certain risk tolerance [7]. Manager Profile - Liu Zhao, the fund manager, holds a PhD in Financial Engineering from the University of Science and Technology of China and has over 8 years of experience in public fund management [5][9]. - He currently manages five funds with a total scale of 46 billion, focusing primarily on index enhancement and quantitative funds, all of which have achieved positive returns under his management [9]. Investment Strategy - The fund employs a multi-factor quantitative model for stock selection, emphasizing long-term effective factors while managing risk to achieve stable excess returns [3][10]. - Liu Zhao has a clear distinction in industry allocation, maintaining over 20% exposure in the electronics sector, which is the largest industry holding [10][14]. - The fund's stock selection strategy has shifted towards concentrated positions in four to five leading stocks in various segments, moving away from earlier diversified allocations [15]. Market Reception - The fund has gained significant market attention, with its combined share increasing from 300 million at the end of last year to 1.83 billion by the end of September this year, representing a growth of over five times [18]. - Institutional investors have shown a preference for the C-class shares due to their flexibility and lower costs, while individual investors may find A-class shares more economical for long-term holding [19][21].

Group 1 - The core announcement is regarding the 7th dividend distribution for the Bosera Smart Selection Quantitative Multi-Factor Equity Fund for the year 2025, with the record date set for November 11 [1] - The dividend distribution plan includes a cash dividend of 0.58 yuan per 10 shares for both Class A (code 013465) and Class C (code 013466) of the fund [1] - The cash dividend payment date is scheduled for November 13, 2025, and investors opting for reinvestment will have their shares calculated based on the net asset value on the record date [1] Group 2 - The fund's profit distribution is exempt from income tax according to relevant regulations from the Ministry of Finance and the State Administration of Taxation [1] - There are no transaction fees for the dividend distribution, and investors choosing the reinvestment option will also be exempt from subscription fees for the converted shares [1]

Group 1 - The core point of the announcement is the fifth dividend distribution for the Bosera Smart Selection Quantitative Multi-Factor Equity Fund in 2025, with a record date of September 9 and cash distribution date of September 11 [1] - The dividend distribution plan includes a cash dividend of 1.41 yuan per 10 shares for Class A shares and 1.40 yuan per 10 shares for Class C shares [1] - Investors opting for reinvestment will have their converted fund shares calculated based on the net asset value on September 9, 2025, with shares credited to their accounts on September 10, 2025 [1] Group 2 - The fund's profit distribution is exempt from income tax according to relevant regulations from the Ministry of Finance and the State Administration of Taxation [1] - There are no transaction fees for the dividend distribution, and investors choosing the reinvestment option will also be exempt from subscription fees for the converted shares [1]

Group 1 - The core viewpoint of the articles highlights that over 90% of public FOFs achieved net value growth in Q2 2025, with a focus on diversified asset allocation and structural opportunities in the equity market [1][4]. - Different fund managers have varying investment strategies, with some emphasizing structural opportunities in new productivity sectors such as new consumption, new technology, and new manufacturing [2][4]. - Specific funds like Penghua Yixuan and Chuangjin Hexin have reported significant net value growth rates of 6.95% and 6.06% respectively, showcasing their unique asset allocation strategies [2][3]. Group 2 - Fund managers are increasingly focusing on high-dividend assets and technology sectors, with funds like Chuangjin Hexin adjusting their allocations to emphasize value stocks and technology growth [3][4]. - The outlook for the second half of 2025 suggests a potentially better performance in the stock market due to external factors such as the Federal Reserve's interest rate cuts and domestic inventory replenishment cycles [5]. - Managers express optimism about structural investment opportunities in the capital market, particularly in the context of a low-interest-rate environment and the potential for risk appetite recovery [4][5].