Core Viewpoint - The surge in public fund self-purchases reflects confidence in the long-term market outlook, with Fangzheng Fubang Fund recently investing over 25 million yuan in its equity funds, committing to hold for at least one year [1][2]. Group 1: Fund Self-Purchase Actions - Fangzheng Fubang Fund announced the use of its own funds to purchase equity fund products, demonstrating confidence in the long-term stability and healthy development of the Chinese capital market [2][5]. - The total self-purchase amount is no less than 25 million yuan, with a commitment to hold the purchased products for no less than one year [2][5]. - This follows a previous self-purchase of 5 million yuan in April for the Fangzheng Fubang CSI All Share Free Cash Flow ETF, which is one of the first approved ETFs in its category [5]. Group 2: Market Sentiment and Strategic Outlook - The self-purchase trend is seen as a positive signal to investors, indicating that the company is optimistic about the market and trusts its fund managers [5]. - The company maintains an optimistic outlook for the second half of the year and into 2025, expecting macro policies to remain accommodative, which may alleviate profit pressures in related industries [5]. - Key drivers for A-shares in the latter half of 2025 are anticipated to be a combination of policy easing, asset scarcity, and industrial upgrades [5]. Group 3: Investment Management and Product Strategy - Fangzheng Fubang Fund emphasizes long-term and value investment principles, aiming to create value for fund shareholders [5][6]. - The company is enhancing its core research and investment capabilities, focusing on a multi-strategy research and investment system to strengthen its investment management [6][7]. - The fund has a diverse product lineup, including innovative thematic products and passive index funds, with a focus on sectors like humanoid robots and military technology [7][8]. Group 4: Performance Metrics - Fangzheng Fubang Fund's equity research team has achieved a return of 31.49% for the Fangzheng Fubang Xinhong A fund over the past year, ranking in the top 12% of its peers [7]. - In fixed income, the fund's products have shown strong performance, with an absolute return of 11.6% over the past three years, placing it in the top 9% among 150 fund companies [8]. - The fund's assets under management reached 80.861 billion yuan in 2024, reflecting a year-on-year growth of 32.20% [8].

Core Viewpoint - The resurgence of public fund self-purchases reflects confidence in the market, with multiple fund companies actively engaging in self-purchases to support the A-share market [1][2][4]. Group 1: Fund Self-Purchase Activity - On July 28, 2025, Fangzheng Fubon Fund announced a self-purchase of at least 25 million yuan in its equity products, committing to hold these investments for no less than one year [2][4]. - As of July 28, 2025, a total of 126 public fund companies have initiated self-purchases, with 55 companies focusing on stock funds and 71 on mixed funds [1][4]. Group 2: Market Confidence and Economic Outlook - The self-purchase actions are interpreted as a positive signal from institutional investors regarding future market trends, supported by favorable policies and economic fundamentals [5]. - The company maintains an optimistic outlook for the second half of 2025 and beyond, citing a continued loose macro policy and potential alleviation of profit pressures in certain industries [5]. Group 3: Product Innovation and Performance - Fangzheng Fubon Fund has seen significant growth in its product offerings, with a focus on both equity and fixed-income products, achieving a 13.53% return for its bond fund over the past year, outperforming 98% of its peers [6][7]. - The company is actively exploring new investment opportunities in emerging industries, such as humanoid robots and military technology, with its flagship fund achieving a 31.49% return in the past year [8].