上天天基金APP搜索【777】开户即可领98元券包 ，优选基金10元起投！限量发放！ 先到 先得！ 在二季度以来的震荡行情中，基金公司加大了自购力度，10多家基金管理人宣布自购旗下权益类基金。 据统计，今年以来基金管理人自购旗下权益类基金合计超过20亿元。在多位业内人士看来，基金管理人 作为专业投资机构，真金白银出手，积极自购权益类基金，有利于提振市场信心。 基金管理人频频出手自购 5月16日，新华基金公告称，基于对资本市场长期健康发展和公司主动投资管理能力的信心，公司已于5 月14日出资1000万元固有资金申购新华积极价值混合基金A类份额。此前，新华基金于今年4月已出资 1051.94万元固有资金申购上述基金。 持续自购的还有招商证券资管。5月14日，招商证券资管公告称，将于近期陆续使用自有资金认申购旗 下权益类证券投资基金（含参照公募基金管理运作的集合资产管理计划），认申购金额合计不低于2500 万元，持有期限不少于6个月。截至目前，公司自有资金投资旗下非货币证券投资基金已逾5500万元。 本次认申购完成后，公司自有资金投资旗下非货币证券投资基金将逾8000万元。 除了基金管理人自购旗下权益类基金以外，基 ...

Core Insights - Fund managers have significantly increased their self-purchase of equity funds, totaling 2.038 billion yuan as of May 18, which is much higher than the same period last year [2][5] - The self-purchase actions by fund managers are seen as a positive signal for the market, indicating confidence in the long-term health of the capital market [5] Group 1: Fund Manager Actions - More than 10 fund management companies have announced self-purchases of their equity funds in the second quarter amid market fluctuations [2][4] - Xinhua Fund announced a self-purchase of 10 million yuan in its Xinhua Active Value Mixed Fund on May 14, following a previous purchase of 10.5194 million yuan in April [3] - China Merchants Securities Asset Management plans to use its own funds to subscribe to equity securities investment funds totaling no less than 25 million yuan, with current investments exceeding 55 million yuan [3] Group 2: Market Impact - The self-purchase behavior of fund managers is expected to stabilize investor sentiment and demonstrate their commitment to the market [5][6] - Fund managers and executives are increasingly participating in self-purchases, with notable commitments from firms like Anxin Fund and Fuguo Fund, each pledging at least 2.5 million yuan [4][5] - The trend of self-purchases is anticipated to grow, supported by regulatory initiatives aimed at enhancing the quality of public fund development [6]

Core Insights - The article emphasizes the shift in investor mindset from "seeking quick gains" to "seeking stability," highlighting the importance of long-term investment and the power of compounding returns [1] - Zhang Ming, a fund manager at Anxin Fund, has consistently achieved superior investment performance over the past seven years, focusing on a "slow and steady" investment approach [1][5] Performance Summary - Anxin Enterprise Value Selection has outperformed the CSI 300 Index and the CSI A500 Index for seven consecutive years from 2018 to 2024, even during market downturns [1][17] - As of March 31, 2025, the fund has delivered a cumulative return of 125.97% and an annualized return of nearly 11% since Zhang Ming took over management [5][4] Investment Philosophy - Zhang Ming is a strong proponent of value investing, adhering to the principle of buying good companies at favorable prices and holding them for the long term [6][8] - His investment strategy involves a low turnover rate, emphasizing that true returns come from the growth of a company's intrinsic value over time [6] Stock Selection Criteria - Zhang Ming employs a PB-ROE model to identify high-quality companies with low price-to-book ratios and high return on equity, focusing on sectors that provide strong ROE [8][9] - His portfolio demonstrates a clear advantage of "low PB + high ROE," indicating a focus on undervalued stocks with solid profitability [9] Risk Management and Resilience - The fund has shown strong drawdown control, with a maximum drawdown of 22.12% compared to the 45.42% drawdown of the broader market index during the same period [15] - In challenging market conditions in 2022 and 2023, the fund only experienced declines of 5% and 1%, respectively, showcasing its resilience [15] Future Outlook - Zhang Ming's active equity management currently stands at approximately 3.5 billion, indicating potential for growth in fund size [16] - A new fund, Anxin Preferred Value Mixed Fund, is set to launch, which may attract attention given Zhang Ming's track record and investment philosophy [16]