中国经济网北京1月6日讯根据同花顺（300033）数据显示，在2025年12月份有可比业绩的1054只(各份额分开计算，下同)普通股票型基 金中有298只基金净值下跌；全市场8755只有可比业绩的混合型基金中有1897只基金净值下跌。 其中，工银瑞信旗下3只基金跌超8%，分别为工银国证港股通创新药ETF、工银成长精选混合C、工银成长精选混合A，2025年12月的跌 幅分别为12.66%、9.62%、9.57%。 工银国证港股通创新药ETF由基金经理刘伟琳、焦文龙共同管理，工银成长精选混合A/C由基金经理赵蓓管理。截至去年三季度末，工 银国证港股通创新药ETF的规模为47.51亿元，工银成长精选混合A/C的规模为14.44亿元。 | 代码 | 名称 | 复权单位净 累计元 | | 规模 亿元 基金成立日 投资类型 | 投资类型 | 县余经理 | 真舍经理最 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 值增长率% | | | 一级分 (二级分 | (现任) | 大年限 | | | | | | | 图 대 | | | | 159217. SZ ...

Group 1 - Liu Peng, a well-known fund manager at交银, has shown signs of change as all three funds he manages have appointed additional fund managers [1][2] - The newly appointed managers, such as Guo Ruo, have similar backgrounds in manufacturing and comparable performance to Liu Peng [2][10] - Liu Peng has managed the "交银先进制造" fund since May 2018, achieving a return of 199.02%, placing it in the top 5% of its category [7][10] Group 2 - Guo Ruo, also a product of交银, began managing funds in March 2023 and employs a strategy that focuses on industry changes and company characteristics [9][10] - Guo Ruo's investment approach is more diversified compared to Liu Peng, with a single industry position typically capped at 15% [9][10] - Other notable fund managers with a strong manufacturing background include Ren Xiangdong and Liu Xiao, both of whom have a history of managing funds in the manufacturing sector [12][17][21] Group 3 - The market is currently experiencing high volatility, with the Shanghai Composite Index rising by 0.37% and trading volume maintaining a high level of 2.4 trillion CNY [28] - There are concerns about market divergence, with some sectors like the internet experiencing significant gains while others, such as coal, are recovering from larger declines [40][41] - The recent performance of ETFs related to innovative drugs has been mixed, with some funds struggling to keep pace with market movements [44][49]

Group 1 - The total number of cross-border ETFs in the market reached 148, with a cumulative scale exceeding 560 billion yuan, marking a year-on-year growth of 33.07% [2] - In terms of product issuance, 10 new cross-border ETFs were established this year, with 9 investing in the Hong Kong stock market and 1 in the Singapore market, totaling an issuance of 5.189 billion yuan [2] - The best-performing ETFs this year are focused on Hong Kong pharmaceuticals, with all top 17 ETFs showing gains exceeding 40% [2][9] Group 2 - As of June 25, southbound funds have net bought 717.65 billion HKD worth of Hong Kong stocks this year, accounting for 88.83% of the projected annual net purchases for 2024 [3] - The cross-border ETF market is experiencing a surge due to the global economic environment and the initiation of the Federal Reserve's interest rate cuts, making cross-border ETFs a vital channel for capital market connectivity [5] Group 3 - The scale of Hong Kong cross-border ETFs reached 370.83 billion yuan, representing a year-on-year growth of 47.41%, with over 60% of the total cross-border ETF scale attributed to Hong Kong ETFs [6] - The majority of cross-border ETFs are concentrated in sectors such as technology, healthcare, and consumer goods, with 16 ETFs exceeding 10 billion yuan in scale, 11 of which are Hong Kong ETFs [6] Group 4 - The leading cross-border ETF managers have a significant market share, with the top four managing a combined scale of 286.56 billion yuan, accounting for 50.84% of the market [11] - The number of cross-border ETF managers has increased from 23 to 24, with only one new entrant, Yongying Fund, while the number of managers with over 10 billion yuan in scale has risen to 14 [11][12] Group 5 - The performance of cross-border ETFs focused on the U.S. market has been lackluster, with 17 out of 27 products showing returns of less than 5% this year [10] - In contrast, the Hong Kong ETFs have shown significant growth, with many products experiencing substantial increases in scale and performance [10][12]

Group 1 - The ETF market has seen a significant inflow of over 300 billion yuan since the second quarter, reversing the net outflow trend from the first quarter [2][3] - The CSI 300 ETF has attracted nearly 110 billion yuan, making it a key focus for investors, while gold ETFs have also seen substantial inflows due to rising gold prices, totaling over 637 billion yuan year-to-date [1][3] - Despite the overall growth, some ETFs are facing liquidity issues, with at least 180 ETFs having daily trading volumes below 1 million yuan, leading to concerns about their viability [1][5] Group 2 - The bond ETF market has accelerated its expansion, with nearly 1 billion yuan in net inflows during the second quarter, indicating strong investor interest [3][4] - The healthcare sector within the Hong Kong stock market has shown mixed results, with some ETFs experiencing significant outflows while others have gained traction [4][5] - A total of 151 ETFs are currently below the 50 million yuan threshold, raising alarms about potential liquidations, as many struggle to attract new capital [5][6] Group 3 - The rapid growth of the ETF market has led to increased competition, resulting in many products becoming "zombie funds" due to shrinking sizes and low liquidity [5][6] - Fund companies are now focusing on differentiating their products to avoid confusion among investors, with some firms changing the naming conventions of their ETFs for better clarity [6][7] - The importance of liquidity in ETFs is emphasized, as low liquidity can hinder trading and lead to missed investment opportunities for investors [6]

Group 1: Innovation Drugs and Gold ETFs Performance - Innovation drug-themed ETFs have shown significant growth, with the top two funds, WanKe ZhongZheng HongKong Innovation Drug ETF and JingShun ChangCheng HongKong Innovation Drug ETF, reporting net value increases of 9.02% and 9.01% respectively [2] - Other innovation drug ETFs also performed well, with several exceeding an 8% increase in net value [2] - The ASCO annual meeting, scheduled for May 30 to June 3, will showcase research results from companies like BeiGene and Kelun Biotech, which is expected to attract attention from the pharmaceutical industry and investors [2] - Gold-themed ETFs also performed strongly, with six funds reporting net value increases exceeding 6% [2] Group 2: Gold Price Trends - COMEX gold prices increased by 5.35%, while London gold saw a rise of 4.86%, and SHFE gold rose by over 4% [3] - Short-term adjustments in gold prices may occur, but long-term demand for inflation hedging and safe-haven assets is expected to support gold prices [3] Group 3: Fund Flows into Defense and Military ETFs - A total of 31 ETFs saw net inflows exceeding 100 million yuan, with significant inflows into military-themed ETFs such as Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF and Fuguo Zhongzheng Military Leader ETF, each exceeding 900 million yuan [4] - The military industry is anticipated to experience a turning point in orders, driven by new technologies and products aimed at enhancing equipment performance and reducing costs [4] Group 4: Support for Technology Enterprises - Recent policies from seven departments aim to enhance credit support for technology enterprises, with a focus on early-stage investments and long-term financing for hard technology [5] - The establishment of a bond market technology board is proposed to raise long-term, low-interest funds for technological innovation [5]