Group 1 - The core viewpoint is that several asset management companies, including China Merchants Asset Management (招商资管), are actively purchasing their own funds, indicating confidence in the long-term stability of the Chinese capital market and their investment management capabilities [1][3] - As of May 14, China Merchants Asset Management announced it will use its own funds to subscribe to its equity securities investment funds, with a total subscription amount of no less than 25 million yuan, and a holding period of at least six months [3] - Currently, China Merchants Asset Management has invested over 55 million yuan in its non-monetary securities investment funds, which will exceed 80 million yuan after the new subscriptions [3] Group 2 - By the end of 2024, the total asset management scale of China Merchants Asset Management is projected to be 267.392 billion yuan, including six public collective products and two newly established public funds [3] - In April, over ten fund management companies, including Anxin, Bosera, and others, announced their own fund purchases, with a total amount close to 600 million yuan [3] - According to Choice data, fund managers have collectively purchased over 6 billion yuan in their own funds this year, with money market funds accounting for over 30% of the total, followed by bond funds at over 27% [4]

Group 1: Fund Management Changes - Taixin Fund announced the closure of its online direct sales platform effective May 30, ceasing services such as account opening, subscription, and redemption [1] - Other fund companies, including Guoshou Anbao Fund and Guojin Fund, have also recently announced the termination of their direct sales operations [1] Group 2: Fund Manager Self-Purchases - China Merchants Asset Management plans to use its own funds to subscribe to its equity investment funds, with a total investment amount of no less than 25 million yuan, holding for at least six months [2] - This marks the third fund manager to announce self-purchases of equity funds after the May Day holiday, with over 55 million yuan already invested in non-money market funds [3] Group 3: New Fund Performance - In the second quarter, the A-share market has shown a "V" shaped recovery, with over 60% of the 66 newly established active equity funds experiencing net value fluctuations exceeding 1% [4] - Nearly 70% of these new funds have reported profits, with the best-performing fund achieving a cumulative return of 8.69% [4] Group 4: Small Cap Fund Restrictions - From April 8 to May 14, the micro-cap stock index rose over 20%, prompting some small cap funds to implement purchase restrictions [6] - For instance, Pengyang Fund reduced the maximum subscription amount for its index fund from 500,000 yuan to 50,000 yuan, while CITIC Prudential suspended large subscriptions over 2 million yuan [6] Group 5: Banking Sector Insights - Hu Jie, a well-known fund manager at Huabao Fund, expressed a positive outlook on the long-term investment value of the banking sector [7] - The banking sector currently has a dividend yield of approximately 6.1%, ranking second among all Shenwan first-level industries, with a PE ratio of 6.1 and a PB ratio of around 0.54, both of which are the lowest across sectors [8]

智通财经5月14日电，招商证券资管今日发布关于运用自有资金投资旗下权益类证券投资基金的公告。 基于对中国资本市场长期健康稳定发展以及对公司主动投资管理能力的信心，招商证券资管将于近期陆 续使用自有资金认申购旗下权益类证券投资基金（含参公集合资管计划），认申购金额合计不低于2500 万元，持有期限不少于6个月。截止目前，该公司自有资金投资旗下非货基金已逾5500万元，本次认申 购完成后，自有资金投资旗下非货币证券投资基金将逾8000万元。 招商资管宣布自购旗下权益类基金不少于2500万元 ...