金融界2025年8月24日消息，景顺长城国企价值混合A(018294) 最新净值1.3787元，该基金近一周收益 率-0.04%，近3个月收益率11.07%，今年来收益率14.41%。 该基金股票持仓前十分别为：紫金矿业、中国移动、神火股份、腾讯控股、中国海洋石油、川仪股份、 国药控股、株冶集团、云铝股份、中国中车。前十持仓占比合计52.32%。 来源：金融界 景顺长城国企价值混合A基金成立于2023年5月30日，基金经理邹立虎，截至2025年6月30日，景顺长城 国企价值混合A规模2.95亿元。 ...

Group 1 - The core point of the article highlights the performance and holdings of the Invesco Great Wall State-Owned Enterprise Value Mixed A fund, which has shown positive returns since its inception [1] - The fund's latest net value is 1.3793 yuan, with a weekly return of 2.43%, a three-month return of 12.44%, and a year-to-date return of 14.46% [1] - The fund was established on May 30, 2023, and as of June 30, 2025, it has a total scale of 295 million yuan [1] Group 2 - The top ten stock holdings of the fund include Zijin Mining, China Mobile, Shenhuo Holdings, Tencent Holdings, China National Offshore Oil Corporation, Chuan Yi Co., Ltd., Sinopharm Holdings, Zhuhai Yinhai Group, Yun Aluminum, and CRRC Corporation, with a combined holding percentage of 52.32% [1]

Group 1 - The core viewpoint of the article highlights the performance and holdings of the Invesco Great Wall State-Owned Enterprise Value Mixed A Fund, which has shown positive returns since its inception [1] - The fund's latest net value is 1.3466 yuan, with a weekly return of 3.11%, a three-month return of 11.11%, and a year-to-date return of 11.74% [1] - The fund was established on May 30, 2023, and as of June 30, 2025, it has a total scale of 295 million yuan [1] Group 2 - The top ten stock holdings of the fund include Zijin Mining, China Mobile, Shenhuo Holdings, Tencent Holdings, China National Offshore Oil Corporation, Chuan Yi Co., Ltd., Sinopharm Group, Zhuhai Smelter Group, Yun Aluminum, and CRRC Corporation, with a combined holding percentage of 52.32% [1]

Group 1 - The core point of the article highlights the performance and holdings of the Invesco Great Wall State-Owned Enterprise Value Mixed A Fund, which has a recent net value of 1.3060 yuan and has experienced a weekly return of -3.04% [1] - The fund was established on May 30, 2023, and as of June 30, 2025, it has a total scale of 295 million yuan [1] - The top ten stock holdings of the fund include Zijin Mining, China Mobile, Shenhuo Co., Tencent Holdings, China National Offshore Oil, Chuan Yi Co., Sinopharm Holdings, Zhuhai Smelter Group, Yun Aluminum, and CRRC Corporation, with a combined holding percentage of 52.32% [1] Group 2 - The fund has achieved a return of 8.78% over the past three months and 8.37% year-to-date [1]

Core Viewpoint - The AI Fund, Invesco Great Wall State-Owned Enterprise Value Mixed A (018294), reported a profit of 606,500 yuan for Q2 2025, with a weighted average profit per fund share of 0.0018 yuan. The fund's net value growth rate was 1.68%, and its total scale reached 295 million yuan by the end of Q2 2025 [3][16]. Fund Performance - As of July 18, the fund's unit net value was 1.295 yuan. The fund manager, Zou Lihua, oversees 10 funds, all of which have positive returns over the past year. The highest one-year return among these funds was 9.59% for Invesco Great Wall Cycle Select Mixed A, while the lowest was 0.86% for Invesco Great Wall Energy Infrastructure Mixed A [3]. - The fund's performance over different time frames includes a three-month net value growth rate of 7.45%, a six-month growth rate of 6.25%, and a one-year growth rate of 3.06%, ranking 51/82, 49/82, and 59/77 among comparable funds, respectively [4]. Risk and Return Metrics - The fund has a Sharpe ratio of 1.0531 since inception, indicating a favorable risk-adjusted return [9]. - The maximum drawdown since inception is 12.56%, with the largest quarterly drawdown occurring in Q3 2024 at 11.67% [12]. Investment Strategy - The average stock position of the fund since inception is 68.23%, compared to the industry average of 84.87%. The fund reached its highest stock position of 86.46% at the end of H1 2025 and its lowest of 59.42% at the end of H1 2024 [15]. - The fund has a high concentration of holdings, with the top ten stocks including Zijin Mining, China Mobile, Shenhuo Co., Tencent Holdings, China National Offshore Oil, Chuan Yi Co., Sinopharm, Zhuhai Mining, Yun Aluminum, and CRRC Corporation [19]. Market Outlook - The fund management anticipates that despite potential short-term economic pressures, the relatively loose policy environment may prevent the market from overly pricing in short-term weaknesses. The medium-term outlook suggests a stabilization of the domestic economy, with the negative impact of real estate on the economy potentially nearing its end, leading to a mild recovery in the fundamentals over the next six months [3].

Core Viewpoint - The recent appointment of four new fund managers at Invesco Great Wall Fund, alongside veteran manager Bao Wuke, has raised speculation about potential changes in management and performance of the funds involved [2][3]. Group 1: Fund Manager Changes - Bao Wuke, a seasoned fund manager with over 17 years of experience, has been managing several funds at Invesco Great Wall Fund, including the Value Margin and Hong Kong-Shanghai Select funds [2]. - The newly appointed fund managers are Liu Su, Zou Lihua, Zhang Zhongwei, and Wang Yong, all of whom are experienced professionals within the company [3][4]. - The "old hands co-managing" model is relatively rare in the fund industry, as the more common practice is "old leads new" for training purposes [3]. Group 2: Fund Performance Post-Appointment - Following the announcement of the new appointments on April 12, three out of four funds have shown an increase in performance [5]. - The net asset value of the Value Margin fund rose from 1.5335 to 1.5425, with major holdings including Zijin Mining and Midea Group [5][6]. - The National Enterprise Value Mixed A fund's net value slightly decreased from 1.2086 to 1.2083, with Zijin Mining being the largest holding at 10.01% of the fund's net asset value [6]. - The Hong Kong-Shanghai Select A fund's net value increased from 2.177 to 2.191, with Midea Group as the top holding at 6.65% [6]. - The Value Discovery A1 fund's net value rose from 1.0927 to 1.1005, with Zijin Mining as the largest holding at 6.04% [6]. Group 3: Management Structure Insights - The effectiveness of co-managing a fund is debated, with some experts suggesting that a single manager may have more independence in decision-making [7]. - However, there are exceptions where a dual-manager structure can enhance performance, particularly in complex products requiring diverse expertise [7].