【 导读 】 开年来，一批绩优基金 " 出手 " 分红 中国基金报记者 曹雯璟 2026年开年，多只绩优基金密集宣布分红，且分红比例均达10%以上。 中欧新趋势分红比例超12% 1月12日晚间，中欧基金发布公告称，基金经理周蔚文管理的中欧新趋势将以2025年12月31日为收益基准日，进行2026年度第一次分 红，权益登记日为2026年1月15日。 值得注意的是，这是该基金时隔三年多首次分红，其中A份额的分红方案为2.282元/10份基金份额，按照基准日下属分类基金份额净值计 算，此次分红比例超12%。 | 收益分配基准日 | | 2025年12月31日 | | | | | --- | --- | --- | --- | --- | --- | | 有关年度分红次数的说明 | | 本次分红为2026年度的第一次分红 | | | | | 下属分类基金的基金简称 | | 中欧新趋势 A(场内简称: | | | 中欧新趋势混 | | | | 混合(LOF) | 中欧新趋势 | 中欧新趋势 | | | | | | 混合(LOF)C | 混合(LOF)E | 合(LOF) X | | | | 中欧趋势 | | | | | ...

【导读】开年来，一批绩优基金"出手"分红 结合宏观经济、股市估值以及流动性，中欧基金权益投决会主席周蔚文最新观点认为，2026年上半年， A股与港股市场正收益机会的核心驱动力在于国内外流动性的双重支撑。从宏观层面看，国内GDP增速 回升还需要一定时间，工业企业、投资、居民消费等关键指标尚未出现趋势上升。这个观察期可能要持 续到2026年年中或更晚一些。 从估值角度看，他认为，当前股市并未达到历史极低水平，即当前市场机会并非源于估值极具吸引力。 在此背景下，周蔚文判断，上半年市场机会的核心来源在于流动性支撑。国内市场流动性方面，自上而 下的政策支持是最核心的支撑力量。 一批绩优基金密集分红 数据显示，2026年以来，东吴嘉禾优势、长盛航天海工装备、国泰金马稳健回报、景顺长城公司治理、 宝盈策略增长等多只绩优主动权益基金均已宣布分红，且分红比例都达10%以上。 2026年开年，多只绩优基金密集宣布分红，且分红比例均达10%以上。 中欧新趋势分红比例超12% 1月12日晚间，中欧基金发布公告称，基金经理周蔚文管理的中欧新趋势将以2025年12月31日为收益基 准日，进行2026年度第一次分红，权益登记日为2026年 ...

Core Insights - The active equity funds experienced a remarkable performance in 2025, with 94.91% of all funds generating positive returns, and 96.64% of active equity funds achieving positive returns over one year [3][4] - The emergence of "doubling funds" was a significant highlight, with 60 funds, including 51 active equity funds, achieving over 100% cumulative returns [4][5] - The strong performance of active equity funds is closely linked to the structural trends in the A-share market, particularly in technology sectors such as optical modules, PCB, cloud computing, and innovative pharmaceuticals [3][5] Fund Performance - Among active equity funds, Yongying Technology Smart Selection A led with a return of 223.14%, making it the only fund to achieve "doubling" status [5] - Other notable performers included AVIC Opportunity Navigator A with 156.48% and Hengyue Advantage Selection A with 141.96% [5] - A total of 3419 funds outperformed their benchmark returns, representing 78.26% of the active equity funds [3] Market Trends - The "doubling funds" phenomenon is characterized by a clear structural market trend, with most funds heavily invested in the "computing power" industry chain, particularly in optical modules [5][6] - The communication sector emerged as a significant winner among passive index "doubling funds," with several funds achieving returns exceeding 110% [6] New Entrants and Management - The emergence of new fund managers was notable, with the average management tenure of fund managers for the "doubling funds" being only 3.01 years, and 43.33% having less than two years of experience [7][8] - Despite the high returns associated with newer fund managers, experienced managers also delivered strong performances, indicating a diverse range of expertise contributing to the success of these funds [8] Fund Management Companies - E Fund emerged as the largest winner in 2025, managing nine "doubling funds," with E Fund Rui Xiang I achieving the highest return of 119.38% [10] - Smaller fund companies also contributed significantly to the "doubling funds," with several achieving impressive returns despite their lower rankings in total assets [11][12] Future Outlook - Analysts suggest that the technology sector will continue to be a clear investment focus in 2026, recommending strategies such as "core + satellite" and "barbell" approaches for portfolio diversification [13]

Core Viewpoint - Yang Siliang, a prominent fund manager at Baoying Fund, has resigned from several key funds due to internal adjustments, leading to a significant drop in his managed assets from 70 billion to 7 billion [1][3]. Group 1: Fund Manager Resignation - Yang Siliang's resignation includes management of Baoying Quality Selection (26.6 billion), Baoying Enhanced Income Bond (18.65 billion), Baoying New Value (10.54 billion), and Baoying Advantage Industry (7.59 billion) [1][3]. - The company cites internal work adjustments as the reason for Yang's departure, but speculation suggests poor performance in the current year may have contributed [3][5]. - Yang's performance has been under scrutiny, with a reported return of -2.55% this year, significantly underperforming the benchmark [3][12]. Group 2: Market Reactions and Implications - The market is speculating that Yang's resignation may indicate a potential departure from Baoying Fund, especially given his historically strong performance over the past three years [5][6]. - Baoying Fund has faced criticism for its compensation practices, which may contribute to talent retention issues [5][6]. - The recent trend of fund manager resignations at Baoying Fund raises concerns about the company's ability to retain key talent [7][8]. Group 3: Performance Metrics - Despite the recent downturn, Yang's funds had previously shown resilience, with a three-year return exceeding 10% as of early this year [1][3]. - The significant drop in managed assets in Q2, amounting to a decrease of nearly 40 billion, reflects the impact of recent performance issues [1][3]. - Yang's funds have been heavily invested in the liquor sector, which has faced challenges this year, contributing to the negative performance [12][13].