Core Viewpoint - The increasing attention on index-enhanced funds, which combine characteristics of both indexation and active management, reflects a growing trend in the investment landscape, particularly in the context of a structural bull market this year [1][9]. Group 1: Index-Enhanced Funds Overview - Traditional index funds aim to replicate indices, focusing on market beta, while enhanced ETFs add active research strategies to uncover alpha returns while managing tracking errors [1][2]. - Jiashi Fund has launched a range of index-enhanced products that have delivered excess returns, outperforming their benchmarks [1][9]. Group 2: Performance of Jiashi Enhanced Funds - Jiashi Zhongzheng Semiconductor Index Enhanced A (014854) achieved a year-to-date return of 51.21%, surpassing its benchmark of 49.07% [2][10]. - Jiashi's ChiNext Enhanced ETF (159675) recorded a return of 49.09%, exceeding its benchmark return of 44.40% by nearly 5 percentage points [2][10]. - Jiashi Zhongzheng 500 Index Enhanced A (008778) returned 29.25%, outperforming its benchmark of 22.84% by over 6 percentage points [2][10]. - Jiashi Zhongzheng 1000 Index Enhanced A (016776) achieved a return of 33.75%, exceeding its benchmark of 22.82% by over 10 percentage points [2][10]. Group 3: Product Development and Strategy - Jiashi Fund has expanded its index-enhanced product offerings, including the first Shanghai Composite Index Enhanced ETF and the first batch of STAR Market Index Enhanced ETFs [3][11]. - The firm emphasizes a combination of active and passive strategies to explore smarter beta opportunities, leveraging over 20 years of investment research experience [3][11]. - Jiashi's Chief Investment Officer for Smart-Beta and Index Investment, Liu Bin, highlighted the focus on investment success rates while optimizing for quality sectors, companies, and pricing to generate alpha [3][11].