摩根资产管理在全球拥有逾百年资管经验，在研究领域持续投入，坚信主动管理有望带来长期超额回 报。公开数据显示，2024、2025年摩根资产管理全球主动管理型基金的资金净流入额均居资管行业首 位。在中国市场，摩根资产管理（中国）也展现出强大的主动管理能力，根据银河证券数据，截至2025 年底，公司近1年、2年、3年及20年的主动股票投资管理能力均位居行业前十。 本次发行的摩根港股通宁远成长混合型基金拟由赵隆隆担任基金经理。赵隆隆拥有16年投资研究经验， 超4年基金管理经验，投资聚焦新兴产业并放眼全市场，挖掘真正高成长行业中穿越牛熊的优质公司。 截至2025年12月31日，四季度季报显示，其管理的摩根香港精选港股通混合型基金（A类）近一年回报 35.21%（同期业绩比较基准收益率17.81%），展现出优秀的超额收益获取能力。 基金经理在追求主动管理超额收益的同时，十分重视争取较优风险调整后回报。赵隆隆表示，将采用三 层投资管理体系：一是在选股层面，坚持"优中选优"，以中微观分析为主、宏观判断为辅，自下而上精 选优质标的，从底层把握资产质量。二是在行业配置上，依据产品定位、业绩基准与风险收益特征，进 行适度均衡的行业 ...

Core Viewpoint - Morgan's Hong Kong Stock Connect Ningyuan Growth Mixed Fund will be launched on February 12, focusing on opportunities in technology, consumer, and high-dividend sectors in the Hong Kong market [1] Group 1: Fund Overview - The fund aims to actively manage and identify opportunities in sectors such as AI applications, the internet, humanoid robots, new consumption, pharmaceuticals, and non-ferrous metals [1] - Morgan Asset Management has over a century of experience in asset management and believes that active management can yield long-term excess returns [1] - As of the end of 2025, Morgan's Hong Kong Selected Stock Connect Mixed Fund (Class A) achieved a return of 35.21%, compared to a benchmark return of 17.81% during the same period [1] Group 2: Investment Strategy - The fund manager, Zhao Longlong, emphasizes a three-tier investment management system: 1. Stock selection focuses on "picking the best among the best" through micro and macro analysis [2] 2. Industry allocation is based on product positioning, performance benchmarks, and risk-return characteristics, aiming for balanced and dynamic adjustments [2] 3. Portfolio construction seeks to maintain relative diversification and avoid high concentration risks [2] Group 3: Market Outlook - By the end of January 2026, the number of eligible stocks in the Hong Kong Stock Connect exceeded 550, primarily in technology manufacturing, consumption, cyclical, and financial sectors [2] - The Hong Kong market is expected to continue providing quality assets that complement A-shares, attracting global capital to competitive Chinese enterprises [2] - The valuation of the Hong Kong market remains attractive compared to major global markets, offering high cost-performance for allocation [2]