2、央行等七部门印发 《关于金融支持 新型工业化 的指导意见》。后市这三大方向值得关注！ 3、 上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到先得！ 真话白话说财经，理财不说违心话 --这是第1400 篇白话财经- - 今天，A股三大指数表现强势，沪指涨近1%，重回3600点，有超3900只个股上涨。 （图片来源：东方财富APP，统计截至2025/8/5，不作投资推荐） 两市成交额1.6万亿，盘面上，通信、消费电子、银行、保险、券商等板块领涨，中药板块回调。 分析人士认为， 市场"慢牛"形态有望延续，突破3674点指日可待，市场热点有望继续扩散，随着半年报陆续披露，接下来也要重视业绩主线。 摘要 1、今天，A股三大指数表现强势，集体收涨，沪指涨近1%，重回3600点，牛市确认了？ A股重回3600点，央行发声 在经历了3天的调整后，今天，A股重回3600点，10倍股上纬新材复牌后再度涨停，科技、金融等板块全面开花。盘后，央行等七部门印发《关于金融支持 新型工业化的指导意见》也释放了积极信号。 1、央行等七部门释放重磅信号。 央行等七部门联合印发《关于金融支持新型工业 ...

Core Insights - Despite a volatile overall market in the first quarter of 2025, public funds demonstrated strong resilience, with a notable recovery in the performance of actively managed equity funds [3][4] - The report indicates that 74.97% of the 8097 funds achieved positive returns, with 166 funds exceeding a 20% return and 989 funds surpassing a 10% return [3] - Growth style funds outperformed in the first quarter, with median returns of 14.49% for mid-cap growth and 13.31% for small-cap growth, while large-cap value funds lagged with a median return of approximately 1.50% [3] Fund Performance - The first quarter saw a strong correlation between fund performance and changes in fund size, with better-performing funds attracting more investment [4] - As of the end of the first quarter, the total market fund management scale reached 31.61 trillion yuan, a 9.60% increase year-on-year, while the scale of actively managed equity funds decreased by 5.16% to 3.49 trillion yuan [4] Billion Club Changes - The number of actively managed equity funds with assets exceeding 100 billion yuan decreased from 27 to 26 in the first quarter, with new entrants replacing some previous members [5] - Notable new members include the Yongying Advanced Manufacturing Select and Penghua Carbon Neutrality Theme funds, which have shown strong performance [5][8] Top Performing Funds - The Penghua Carbon Neutrality Theme fund achieved a remarkable return of 60.26%, leading the performance rankings, while the Yongying Advanced Manufacturing Select fund recorded a return of 52.32% [8][10] - The net subscription amounts for these funds were estimated to exceed 7 billion yuan, with significant increases in their total assets [10] Fund Manager Rankings - The top ten fund managers in the actively managed equity fund sector maintained relative stability, with slight internal ranking changes [14] - As of the end of the first quarter, the largest actively managed equity fund was the E Fund Blue Chip Select, managed by Zhang Kun, with a total asset value of 389.08 billion yuan [10][14] Scale Growth - Several fund managers, including those from Fortune Fund and China Europe Fund, reported significant net increases in fund management scale, indicating a positive trend in the sector [15][16] - The scale of the China Europe Medical Health fund, managed by Ge Lan, reached 311.79 billion yuan, making it one of the largest actively managed equity funds [16]

Core Viewpoint - The active equity funds have regained market attention as the market conditions improve, with a notable focus on technology innovation-related themes [1][2][6] Group 1: Fund Issuance and Themes - As of March 20, a total of 17 new active equity funds have been launched, primarily focusing on technology innovation themes [1][2] - Among the 10 funds currently in the initial issuance phase, many are centered on technology sectors, including funds like Taiping Technology Pioneer Mixed and Deutsche Bank Emerging Industry Mixed [2] - Some funds are targeting specific themes, such as central enterprises and dividends, with examples like Rongtong Central Enterprise Selected Mixed focusing on high-dividend, stable cash flow companies [2][3] Group 2: Fund Issuance Strategies - Many funds are adopting a "initiated" issuance strategy due to concerns over unsuccessful fundraising, with 5 out of the 10 currently issuing funds being initiated funds [3][4] - Initiated funds require a minimum of 10 million yuan to establish and have shorter issuance periods, allowing for gradual scale growth post-establishment [4] Group 3: Fund Performance and Market Sentiment - Despite the increase in active equity fund issuance, there remains a cautious sentiment among fund companies due to recent failures in fundraising, with 3 funds reported to have failed to meet registration conditions this year [4][5] - The performance of active equity funds has shown promise, with the highest return exceeding 80% year-to-date, indicating potential for sustained performance as market conditions evolve [7]