以下文章来源于阡陌说 ，作者阡陌说 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者： 阡陌说 来源：雪球 12月30日 ， 2025年金牛奖名单公布 。 下图是七年期开放式股票型持续优胜金牛基金 ， 只有4只 。 阡陌说 . 雪球2022年度基金影响力用户，天天基金2024年度影响力牛人。公众号大部分为基金学习笔记，可能会略显枯燥，感谢您的关注！期待与您同行收获时间 的玫瑰。 ↑点击上面图片 加雪球核心交流群 ↑ 下图是五年期开放式股票型持续优胜金牛基金 ， 只有5只 。 下图是七年期开放式混合型持续优胜金牛基金 ， 只有6只 。 下图是五年期开放式混合型持续优胜金牛基金 ， 只有8只 。 4 、 5 、 6 、 8 ， 合计23只基金 ， 本文来简单分析一下它们的数据 。 一 、 基金经理任职回报 23只基金简单整理了一下按照规模合并值由高到低排序如下 ， 还展示了机构占比 、 股票占比 、 基金经理任职时间 、 任职天数 、 任职以来的回 报 、 年化回报 、 基金经理年限 、 超越基准回报等信息 。 信息量比较大 ， 我不展开 ， 大家自己看 。 | 机构投 ...

Group 1: Award Winners - The "Golden Bull Fund Management Company Award" was awarded to several companies including Dachen Fund Management Co., Ltd., Huatai-PB Fund Management Co., Ltd., and ICBC Credit Suisse Fund Management Co., Ltd. [1] - The "Active Equity Investment Golden Bull Fund Company Award" was given to Dachen Fund Management Co., Ltd., Huashang Fund Management Co., Ltd., and Guohai Franklin Fund Management Co., Ltd. [1] - The "Fixed Income Investment Golden Bull Fund Company Award" was awarded to Industrial Bank Fund Management Co., Ltd. and China Life Asset Management Co., Ltd. [1] Group 2: Continuous Excellence Awards - The "Continuous Excellence Golden Bull Fund" for seven-year open-end stock type was awarded to Dachen Gaoxin Stock Fund [1] - The "Continuous Excellence Golden Bull Fund" for five-year open-end stock type included Penghua Preferred Value Stock and Invesco Great Wall Growth Star Stock [2] - The "Continuous Excellence Golden Bull Fund" for seven-year open-end mixed type included Wanjiar Zhenxuan Mixed and Jiao Yin Trend Mixed [2] Group 3: Bond Fund Awards - The "Continuous Excellence Golden Bull Fund" for five-year open-end bond type included Penghua Fenglu Bond and Yinhua Credit Quarterly Bond [3] - The "Continuous Excellence Golden Bull Fund" for seven-year open-end bond type included Zhongyou Ruixin Enhanced Bond and Bank of China Zhaoli Bond [3]

Group 1 - The awards recognize outstanding fund management companies in various categories, including active equity investment, fixed income investment, global allocation, and passive investment [1] - Notable winners of the Active Equity Investment Bull Fund Company Award include Dachen Fund Management Co., Ltd. and Huashang Fund Management Co., Ltd. [1] - The Fixed Income Investment Bull Fund Company Award was awarded to Xinyi Fund Management Co., Ltd. and Guoshou Anbao Fund Management Co., Ltd. [1] Group 2 - The Long-term Return Bull Award was given to Dachen Fund Management Co., Ltd. and Guohai Franklin Fund Management Co., Ltd. [1] - The Seven-Year Open-End Stock Type Continuous Excellence Bull Fund includes Dachen Gaoxin Stock and CMB Quantitative Selected Stock Initiation Fund [1] - The Five-Year Open-End Mixed Type Continuous Excellence Bull Fund includes Dachen Innovation Growth Mixed (LOF) and other notable funds [2]

Core Viewpoint - The public fund industry in China has seen a significant increase in dividend distributions this year, with over 3,600 funds distributing more than 240 billion yuan, marking a three-year high and an increase of over 15 billion yuan compared to last year [2][4]. Group 1: Dividend Distribution Trends - The frequency of dividend distributions among public funds has notably increased, with around 30 funds distributing dividends 12 times or more this year, allowing investors to receive monthly dividends [3]. - The fund with the highest number of distributions is the Western Li De Central Enterprise Preferred Fund, which has distributed dividends 17 times this year, with a total of approximately 71.92 million yuan distributed [3]. - Nearly half of the funds that distributed dividends this year did so more than once, with about 70 funds having a single distribution ratio exceeding 10%, and the highest single distribution ratio reaching approximately 37% for the Guotai Nasdaq 100 Index [3]. Group 2: Fund Categories and Performance - Index funds have been the major contributors to dividend distributions, with over half of the funds distributing more than 1 billion yuan being index funds, particularly the CSI 300 ETF, which has distributed over 80 billion yuan [4]. - More than 700 index funds have distributed dividends this year, totaling over 66 billion yuan, with the highest per unit distribution being 3 yuan for the Pengyang 30-Year Treasury ETF [4]. - In the actively managed equity fund category, funds like E Fund Kexun Mixed and Dachen Strategy Return Mixed have also shown significant dividend distributions [4]. Group 3: Investor Sentiment and Market Impact - There is a perspective that dividends merely transfer money without generating real profit; however, over time, dividends can enhance investor satisfaction and provide tangible cash flow [5][6]. - The performance of funds that distributed dividends this year has generally been positive, with less than 10% of funds experiencing losses, and some achieving over 100% growth [6]. - The trend of dividend distributions is expected to become more normalized in the future, contributing to enhanced investor returns and improved holding experiences [6].

今年分红次数达12次的公募产品多数为红利主题类基金，且有多只产品于去年成立。据悉，在这些基金 中，不乏产品规定了最低分红次数。例如，广发中证红利ETF合同约定，明确基金收益评价日为每月最 后一个工作日，同时明确在符合基金分红条件的前提下每季度最少分配1次、最多分配3次。 此外，今年实施分红的公募基金中，近半数产品不止一次分红。有约70只基金的单次分红比例（每单位 份额分红占基准日单位净值的比例）大于10%。单次分红比例最高的更是达到约37%，为国泰纳斯达克 100指数（QDII）。9月1日，该基金每单位份额发放红利2.8元，为今年第三次分红。 指基成分红大户 2400 亿元 Wind数据显示，截至12月28日，按照红利发放日为统计口径，全市场已有超过3600只公募基金（不同 份额分开计算）在今年实施分红，总金额超2400亿元。 □本报记者 张韵 有公募基金产品今年已分红17次，还有产品单次分红比例超过37%…… 今年以来，公募产品分红热情高涨。Wind数据显示，截至12月28日，按照红利发放日为统计口径，全 市场已有超过3600只公募基金（不同份额分开计算）在今年实施分红，总金额超2400亿元，创近三年新 高 ...

Core Insights - The investment strategy of dividend investing is regaining prominence as a stable investment approach in 2025, contrasting with previous years focused on growth and resilience [1] - Dividend funds are highlighted as a key investment tool for 2025, offering steady returns and enhancing overall yield through dividends [1] Group 1: Dividend Fund Performance - Since the beginning of 2025, public funds have distributed over 220 billion yuan in dividends, with a total of 3,492 funds implementing dividend distributions, marking a year-on-year increase of approximately 13.5% [2] - Leading fund companies like E Fund and Huaxia Fund have demonstrated significant dividend capabilities, each surpassing 10 billion yuan in annual dividends [2] - Equity funds are increasingly contributing to the total dividend pool, with their share rising as bond funds' contribution declines, indicating a shift in investor preference [2][3] Group 2: Specific Fund Highlights - The top five funds in terms of dividend payouts in 2025 are all ETFs, with the Huatai-PB CSI 300 ETF leading at 8.39 billion yuan [3] - Funds with a high frequency of dividends, particularly those focused on dividend strategies, have shown strong performance, with some funds achieving over 10 distributions in 2025 [3] - The highest-performing dividend fund in 2025 is E Fund Kexiang, with a return of 66.37%, significantly outperforming others in the same category [3] Group 3: Fee Structure and Growth - Dividend funds are characterized by lower management and custody fees compared to actively managed equity funds, making them more attractive in a low-fee environment [4] - As of mid-2025, the asset management scale of dividend funds reached approximately 240 billion yuan, reflecting a significant increase driven by low fees and improved dividend mechanisms [5] - The growth of dividend funds is attributed to a combination of low-fee environments, enhanced dividend mechanisms, and rising demand for stable returns amid market uncertainties [5] Group 4: Future Outlook - Industry experts believe that dividend funds will continue to be a favored asset class due to ongoing policy support for dividend distributions from both funds and listed companies [6] - Key areas of focus for 2026 include traditional industry leaders with stable earnings and clear dividend policies, as well as emerging dividend stocks with strong payout intentions [7] - The long-term value of Hong Kong dividend assets is also highlighted, particularly for investors seeking cash flow returns in a low-interest-rate environment [7]

值得一提的是，ETF产品成为今年分红"佼佼者"，年内分红金额前五名均为ETF，多只产品分红超10亿元。其 中，华泰柏瑞沪深300ETF以83.9亿元成为冠军，易方达沪深300发起式ETF紧随其后，分红71.5亿元，华夏沪深 300ETF、嘉实沪深300ETF分红均超50亿元。另外，红利类基金在分红频率上表现突出，年内累计分红超10次 的产品达48只。 【环球网财经综合报道】临近2025年年末，公募基金分红情况如何？Choice数据显示，截至12月19日，年内共 有3492只公募基金（不同份额分开计算）实施分红，累计分红金额达2256.84亿元，距2300亿元仅一步之遥。与 去年同期1988.46亿元的分红规模相比，今年分红金额增加268.38亿元，同比增幅达13.5%。其中，易方达基 金、华夏基金等机构年内分红金额破百亿元。 从产品结构来看，债券型基金虽仍占据分红主导地位，占总分红额的73%，但较去年同期83%的占比下降10个 百分点。与之相反，权益类基金分红占比在提升，相关产品在分红金额与频率上实现"双领先"。 不仅如此，年内分红金额靠前的基金，近一年回报多数为正，部分产品表现亮眼。例如，年内分红逾9亿元的 ...

Core Insights - Public funds in China have been actively distributing dividends, with over 200 billion yuan distributed as of November 27, 2023, marking a year-on-year increase of over 25% [1][2] - The total dividend amount for equity funds in 2023 is projected to reach 52.156 billion yuan, representing a growth of 40.69% compared to the previous year [1] Group 1: Dividend Distribution - At least 10 public funds announced dividends on November 27, 2023, with a total distribution exceeding 200 billion yuan for the year [1] - A total of 13 funds, including various bond funds, have announced dividends, with some funds like Penghua Yongrun having over 10 distributions this year [1] Group 2: Equity Fund Performance - Among equity funds, 9 funds are expected to distribute over 1 billion yuan in dividends for 2023, predominantly passive index funds [2] - Notable distributions include Huatai-PB CSI 300 ETF with 8.394 billion yuan, a nearly 2.4 times increase, and E Fund CSI 300 ETF with 7.151 billion yuan, a growth of nearly 35% [2] - Active equity funds have also shown strong dividend activity, with two funds exceeding 1 billion yuan in distributions, and nearly 30 active equity funds distributing over 100 million yuan [2]

Group 1 - Public funds have been actively distributing dividends, with at least 10 funds announcing dividends on November 27 alone, and the total amount exceeding 200 billion yuan this year [1] - The total dividend amount for public funds has surpassed 200 billion yuan, showing a year-on-year increase of over 25% [1] - The total dividend amount for equity funds in 2025 is 52.156 billion yuan, representing a growth of 40.69% compared to the previous year [1] Group 2 - Among equity funds, 9 funds have a dividend amount exceeding 1 billion yuan in 2025, primarily consisting of passive index equity funds [2] - The Huatai-PineBridge CSI 300 ETF has a total dividend of 8.394 billion yuan in 2025, nearly 2.4 times higher than the previous year [2] - Active equity funds have also been proactive in dividend distribution, with some announcing dividends for the first time in the fourth quarter [2]

Core Insights - The article highlights a notable trend of dividend announcements from actively managed equity funds, particularly growth-style funds, which is uncommon compared to traditional broad-based index and dividend-themed funds [1][2]. Group 1: Dividend Trends in Active Equity Funds - Several actively managed growth-style funds have announced dividends in Q4 2023, a rare occurrence, indicating a shift in strategy to provide returns to investors [1][2]. - For instance, E Fund announced a dividend of 0.9 yuan per 10 fund shares for its E Fund Kexun Mixed Fund, amounting to 226 million yuan, with a year-to-date return of over 100% [2]. - Other funds managed by well-known fund manager Chen Hao also declared dividends for the first time since 2021, with returns exceeding 50% this year [2]. Group 2: Reasons Behind Dividend Announcements - The dividends from actively managed funds primarily stem from capital gains rather than stock dividends, reflecting the strong performance of growth stocks in the A-share market [4]. - Analysts suggest that fund managers may use dividends to help investors realize gains and adjust their portfolio structures, especially in a market where growth stocks have performed well [4][5]. - Dividends can also serve as a mechanism to manage fund size and maintain optimal operational scales, particularly when funds experience rapid growth [5]. Group 3: Future Outlook and Industry Implications - The trend of dividend distribution is expected to expand among actively managed equity funds, driven by high returns and increasing investor demand for stable cash flows [6][7]. - The success of dividend strategies in index funds has influenced investor preferences, prompting actively managed funds to adopt similar practices to enhance investor experience and encourage long-term holding [7]. - Fund managers are encouraged to integrate dividend mechanisms into their product management frameworks to align with investor-centric principles [7].