（原标题：超80只权益基金年内业绩翻番，机构、基金公司员工"持基"全揭秘） 随着市场行情回暖、资金活跃度提升，权益类基金的赚钱效应正在凸显。Wind数据显示，截至9月18日，超97%的权益类基金今年实现正收益， 其中81只基金实现业绩翻番。偏股基金指数、股票基金指数均创近三年新高，年内涨幅超过26%，近一年来涨幅超过55%。 不过，全市场权益类基金众多，不妨看看机构、基金管理公司和公司内部员工的"作业"怎么做。 21财经·南财快讯记者梳理上半年公募基金持有人结构发现，以上三类主体基金各有不同布局偏好。具体来看，机构资金重金"押注"沪深300ETF， 同时大量加仓港股通科技主题ETF；基金公司真金白银加仓旗下养老FOF，以自有资金自购传递对长期布局的信心；基金公司员工持仓则兼顾价 值与成长风格，对行业ETF联接产品关注升温。 2025年上半年机构投资者持有权益基金情况 看机构投资者持有金额： 机构重金"押注"沪深300ETF 2025年上半年，宽基ETF成为机构们重金持有的主流。截至上半年末，机构投资者持有金额最高的20只权益类基金均为ETF产品，且宽基ETF占据 绝大多数。 其中，机构持有金额排名前四的基金均 ...

Core Viewpoint - The article highlights the increasing reliance of Funds of Funds (FOFs) on index-based tools, particularly ETFs, for asset allocation, reflecting a trend towards diversification and tool-based management in the current market environment [2][5]. Group 1: FOF Holdings Characteristics - In the first half of the year, FOFs have shown a pronounced preference for index-based tools, with a significant concentration in technology and commodity-themed ETFs [2][3]. - Specific ETFs such as the Huaxia Hang Seng Technology ETF and the Huaan Gold ETF have been widely held by multiple FOFs, indicating a trend towards diversified investment strategies [3][4]. - The Huaan Gold ETF has emerged as the most held fund by FOFs, being included in 228 FOF portfolios, showcasing its broad appeal [3]. Group 2: Performance and Strategy - Recent performance of FOFs has been strong, with many products achieving notable returns attributed to their investments in technology, commodities, and healthcare-themed ETFs [3][4]. - The shift towards equity and commodity ETFs is seen as a natural response to market conditions and reflects the evolution of FOF products [5]. - The use of ETFs allows FOFs to quickly adjust their portfolios in response to market volatility, enhancing their ability to capture opportunities and manage risks effectively [5][7]. Group 3: Investment Logic and Trends - The investment logic of FOFs is transitioning from a "timing-driven" approach to a "multi-factor balanced" strategy, recognizing the cyclical nature of asset performance [6]. - FOFs are increasingly utilizing ETFs to achieve a balance between growth-oriented sectors and risk-hedging through commodity investments, thereby reducing overall portfolio volatility [7]. - The trend of leveraging ETFs for flexible asset allocation is becoming a significant characteristic of FOF operations, aligning with international investment practices [5][7].

Core Insights - In June 2025, over 500 FOF funds had an average return of 2.11% and a median return of 1.83%, while the CSI 300 index rose by 2.5% [1] - More than 90% of FOF funds achieved positive returns in June, with notable performers including Guotai's Preferred Navigation One-Year Holding and others exceeding 7% returns [1][2] - Some FOF funds, particularly those newly established, underperformed, with institutions like Dongfanghong Asset Management and Qianhai Kaiyuan Fund showing weaker results [1][10] Performance Summary - Guotai Preferred Navigation One-Year Holding achieved a return of 9.26% in June, with a cumulative return of 11.11% for the first half of 2025 [6] - Other high-performing funds included Guotai Industry Rotation A at 8.02%, and Jiao Yin Smart Selection at 7.31% [2] - A list of top-performing FOF funds in June includes several with returns exceeding 20%, such as Yongying Technology Smart Selection A at 37.21% [3][4] Underperforming Funds - Some FOF funds experienced slight losses, with the worst performer, Dongfanghong Yingfeng Stable Allocation, showing a decrease of 0.04% [13] - Newly established funds, such as Qianhai Kaiyuan Kangyue Stable Pension One-Year Holding, also reported minimal gains, indicating challenges in early performance [10][13] - The underperformance of certain funds is attributed to their recent establishment and lack of substantial asset bases [10][13]