8月18日，A股继续大涨，上证指数创2015年8月下旬以来的近10年新高。投资是一场马拉松，短期业绩 靠运气，长期业绩靠实力。站在十年的长周期维度，哪些基金展现出傲人的长跑耐力，值得投资者长期 信赖？Wind数据显示，截至8月15日，全市场成立满10年的基金共有1999只(仅统计主份额，下同)，其 中的"双十基金"(成立满10年，且成立以来年化回报超10%)有346只，占比仅17%。 从基金公司维度来看，旗下"双十基金"数量较多的主要是广发、富国、景顺长城等头部公募基金公司。 以"权益大厂"广发基金为例，Wind数据显示，截至8月15日，该公司旗下共涌现出10只"双十基金"，主 动被动、境内境外均有覆盖。其中灵活配置型基金、偏股混合型基金各有3只，平衡混合型基金占1只， QDII主动股票以及QDII股票指数共3只。尤为难得的是，这10只基金中，广发稳健增长A等2只基金管理 规模超100亿元，展现出该公司长期投研能力与大规模资产管理能力兼具的"大厂"实力。 广发基金旗下的10只"双十基金"中，主动管理基金占据8席。截至8月15日，广发制造业精选A成立以来 回报为519.75%，年化回报14.01%；"十倍基"广 ...

8月13日，A股市场表现强劲。沪指突破去年10月8日高点，创近四年新高；深成指、创业板指双双站上 年内峰值。两市成交额时隔114个交易日重返2万亿元大关。有色金属、AI硬件等成长板块领涨，超 2700只个股上涨。 然而，火热的指数行情并未惠及全市场基金。Wind数据显示，在全市场超13000只基金（仅统计A类份 额）中，仍有2700余只产品单位净值低于去年10月8日水平。 尤为引人关注的是，包括萧楠、刘彦春、朱少醒、张坤、赵诣、焦巍等知名基金经理管理的8只百亿级 权益基金，集体面临"净值修复滞缓"问题。 | 证券代码 | 证券简称 | 单位净值 2025-08-12 | 单位净值 2024-10-08 | (元) | 单位净值减少 今年以来回报 (%) | 规模含计 (亿元) | 基金经理 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | (元) | (元) | | | | | | 110022.OF | 易方达消费行业 | 3.468 | 3.966 | -0.498 | -3.48 | 168.54 | | | 260108.OF | 景顺 ...

Core Viewpoint - The article provides a comprehensive overview of the updated active fund manager pool information, focusing on various metrics such as investment style, stock allocation, industry preference, turnover rate, valuation of major holdings, concentration of holdings, and fund size [3][32]. Group 1: Fund Manager Information - The article lists various fund managers along with their respective funds, categorized by investment style such as value, growth, and balanced [2][4]. - It highlights the experience of fund managers, indicating that many have been in the industry for several years, which is crucial for navigating different market cycles [39][41]. Group 2: Fund Metrics - The article discusses key metrics to consider when evaluating funds, including stock allocation, which typically ranges from 85% to 90% for active funds [43][44]. - It emphasizes the importance of industry preference, noting that fund managers often focus on specific sectors where they have expertise [48][50]. - The concentration of holdings is also addressed, with a higher concentration indicating greater potential volatility [53]. Group 3: Valuation and Performance Indicators - The article mentions the valuation of major holdings, suggesting that growth-style funds tend to have higher valuations compared to value-style funds [58]. - It discusses turnover rates, indicating that a turnover rate below 200% is considered low for active funds, which can be influenced by changes in fund size [61][62]. - Fund size is highlighted as a critical factor, with larger funds potentially facing challenges in achieving excess returns due to management difficulties [63][68]. Group 4: Fund Reports and Insights - The article outlines the types of periodic reports available for funds, with annual reports containing the most comprehensive information [32]. - It suggests focusing on factors that impact fund performance, such as investment style, industry preference, and the fund manager's insights on market conditions [32][66].

Core Viewpoints - The article summarizes the insights from fund managers based on their Q1 2025 reports, focusing on their investment strategies and market outlooks [1]. Group 1: Fund Manager Perspectives - Fund managers typically cover two main areas in their reports: a review of past investments and future market outlooks, with the latter being more significant [3]. - Different fund managers exhibit varying levels of detail in their reports, influenced by their investment styles, such as value or growth [3]. - The deep value style emphasizes low valuations and high dividend yields, primarily investing in sectors like finance, real estate, and energy [4][5]. - Growth value style focuses on companies with strong profitability and cash flow, often holding stocks for the long term [10]. Group 2: Deep Value Style Insights - Deep value style has shown strong performance from 2021 to 2024, while it underperformed in 2019-2020 [6]. - Fund managers express confidence in their holdings despite market uncertainties, citing factors like geopolitical changes and technological advancements as influential [7]. - The current market environment is characterized by structural changes, with some sectors facing prolonged competition, while others show clear competitive advantages [7]. Group 3: Growth Value Style Insights - Growth value managers highlight the resilience of high-frequency economic data and improved financing conditions, suggesting a positive outlook for the second quarter [12]. - They emphasize the importance of focusing on domestic economic transformation and internal demand rather than external pressures [12][13]. - Fund managers are adjusting their portfolios to capitalize on sectors like AI and healthcare, anticipating a shift in consumer behavior and market dynamics [15][16]. Group 4: Balanced Style Insights - The balanced style seeks to combine growth potential with valuation, often looking for stocks that offer good value relative to their growth prospects [26]. - Fund managers maintain a diversified approach, focusing on sectors with favorable valuations and growth potential, such as healthcare and technology [29][30]. - They express optimism about domestic consumption policies and liquidity, which may support market performance despite external uncertainties [30]. Group 5: Growth Style Insights - The growth style prioritizes companies with high revenue and profit growth, often accepting higher valuations for strong growth potential [39][40]. - Fund managers are actively seeking opportunities in emerging industries, such as renewable energy and technology, which are expected to drive future growth [41].