Core Viewpoint - The article highlights the performance of the Anxin New Value Mixed A fund (003026.OF), which has shown strong defensive capabilities in weak and volatile markets, achieving a nearly 8% annualized return since inception and a total return of 109% as of March 23, 2026, significantly outperforming the CSI 300 index, which rose by 31% during the same period [3][4]. Performance Summary - The fund has recorded positive returns in all years since its inception in August 2016, except for a slight loss in 2022, showcasing its resilience [4]. - Since taking over in August 2021, fund manager Liang Bingzhe has achieved an annualized return of 6.2% [5]. - The fund's annual performance compared to its benchmark and the CSI 300 index from 2021 to 2026 shows consistent outperformance, particularly in 2025 with a return of 10.56% against the CSI 300's 17.66% [6]. Risk Management - The fund's maximum drawdown since Liang Bingzhe's tenure is only -5.7%, indicating strong risk management capabilities [7]. - The fund employs a "fixed income plus" strategy, maintaining a stock allocation of less than 20%, which contributes to its defensive nature [10]. Asset Allocation - The fund's portfolio is characterized by a low concentration in its top holdings, with the top ten stocks accounting for only 7.9% of the net asset value, and the largest holding, China National Offshore Oil Corporation, representing just 1.63% [13]. - The fund focuses on undervalued, high-dividend, and defensive assets, aligning with its stable bond base [13]. Market Position - Despite its conservative approach, the fund ranks 1621st in the market, indicating a stable position among peers [16]. - The fund's ability to provide a smooth upward curve in net value has made it a sought-after option for investors looking for stability in volatile markets [18]. Growth in Popularity - The fund's assets grew from 0.64 billion yuan at the end of 2024 to 10.24 billion yuan by the end of 2025, primarily driven by individual investors [20]. Conclusion - Anxin New Value A is positioned as a robust investment option for those seeking stability and minimal drawdowns, making it a valuable addition for investors looking for a "ballast" in their asset allocation [21].

Group 1 - The core point of the article highlights the recent performance of Shanjin International, which saw a 5.02% increase in stock price, reaching 24.70 CNY per share, with a trading volume of 1.177 billion CNY and a turnover rate of 1.94%, resulting in a total market capitalization of 68.585 billion CNY [1] - Shanjin International is primarily engaged in precious and non-ferrous metal mining and trading, with its main products being gold, copper, silver, and tin. The revenue composition includes copper trading (33.67%), gold (32.30%), silver trading (17.01%), and other metals [1] Group 2 - From the perspective of fund holdings, Shanjin International is the top holding of Anxin Fund's Anxin New Value Mixed A (003026), which reduced its holdings by 49,100 shares in the second quarter, now holding 96,200 shares, accounting for 1.15% of the fund's net value [2] - Anxin New Value Mixed A has a total scale of 36.9236 million CNY, with a year-to-date return of 8.24% and a one-year return of 12.72%, ranking 6228 out of 8234 and 5318 out of 8083 respectively [2]