为了给予更有价值的信息，本文按博士、硕士、本科三大学历，分别梳理出今年来收益前十的基金经理，供投资者参考。 截至9月15日，3872位公募基金经理中，拥有硕士学历的基金经理高达3375位，占比高达87.16%，其次博士基金经理有377位，本科基金经理仅105位。那 么，不同学历基金经理在管的基金产品，今年来业绩如何？学历越高是否所管理的基金产品业绩越好？ 博士：博士"新秀"力压群雄！长城基金梁福睿、永赢基金单林夺冠亚！ 公募排排网数据显示，截至9月15日，377位博士基金经理所管的产品今年来收益均值为20.39%，其中仅14位博士基金经理出现年内负收益；表现稍有落后 的是105位本科学历基金经理，今年来收益均值为11.40%。今年整体收益来看：博士基金经理＞硕士基金经理＞本科基金经理。 公募排排网公众号 数据来源:整理自公募排排网,截至日期:2025年9月 收益按旗下基金产品规模加权统计。 公募排排网数据显示，截至9月15日，博士学历的基金经理共有377位，他们的基金经理平均从业年限为5.52年，其中从业年限最长的是知名基金经理朱少 醒，高达19.85年。业绩方面来看，今年来他们的收益均值高达20.39%，位 ...

Core Viewpoint - The article analyzes the performance of mutual fund managers based on their educational backgrounds, revealing that higher educational qualifications correlate with better fund performance in 2023 [3][5][8]. Summary by Sections Doctorate Fund Managers - There are 377 doctorate fund managers, with an average return of 20.39% this year, and only 14 have negative returns [3][5]. - The top three performing doctorate fund managers are Liang Furui from Great Wall Fund, Dan Lin from Yongying Fund, and Qi Nong from Huabao Fund, with returns of 115.48%, 96.43%, and 93.12% respectively [5][6]. - Liang Furui's representative product, Great Wall Medical Industry Selected Mixed Fund A, achieved a return of 113.60% against a benchmark of 22.49% [6][7]. Master's Fund Managers - There are 3,375 master's fund managers, with an average return of 16.93% this year [8]. - The top three performing master's fund managers are Ren Jie from Yongying Fund, Leng Wenpeng from CITIC Construction Investment Fund, and Zhou Shanshan from Jiao Yin Shi Luo Fund, with returns of 183.67%, 119.41%, and 116.55% respectively [9][10]. - Ren Jie's representative product, Yongying Technology Selected Mixed Fund A, achieved a return of 186.12% against a benchmark of 37.38% [10]. Bachelor's Fund Managers - There are 105 bachelor's fund managers, with an average return of 11.40% this year [11]. - The top three performing bachelor's fund managers are Bao Jianwen from Caitong Asset Management, Sa Weixu from Guoshou Anbao Fund, and Ye Yong from Wanjia Fund, with returns of 54.48%, 53.80%, and 40.45% respectively [12][13]. - Bao Jianwen's representative product, Caitong Asset Management Digital Economy Mixed Fund A, achieved a return of 71.41% against a benchmark of 21.01% [12].

Group 1 - Baili Tianheng (688506.SH) released its semi-annual report for 2025 on August 20, 2025, indicating that as of August 19, 2025, 113 institutional investors disclosed holdings in Baili Tianheng A-shares, totaling 65.5261 million shares, which accounts for 16.34% of the total share capital [1] - The top ten institutional investors include OAP III (HK) Limited, China Merchants Bank Co., Ltd. - Huaxia SSE STAR 50 ETF, and others, with a combined holding ratio of 13.07%, reflecting an increase of 0.40 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, 15 funds increased their holdings compared to the previous period, with notable funds including Yongying Medical Innovation Mixed Fund A and China Europe Medical Health Mixed Fund A, representing an increase ratio of 0.33% [2] - Conversely, 36 public funds reduced their holdings, including Huatai-PB Daxin Mixed Fund A and Ping An Medical Health Mixed Fund A, with a decrease ratio of 0.97% [2] - Additionally, 55 new public funds disclosed their holdings this period, including Huatai-PB Innovative Medical Mixed Fund A and CITIC Jian Investment Medical Reform A [2]

Core Viewpoint - The article highlights the performance of equity funds in the A-share market, noting that many funds have reached historical highs in net value as of July 2025, driven by a strong upward trend in major stock indices [4][5]. Group 1: Performance of Equity Funds - As of the end of July 2025, 1,985 equity funds (established for over a year) reached historical highs in net value [4]. - The Shanghai Composite Index rose by 3.74%, the Shenzhen Component Index by 5.20%, and the ChiNext Index by 8.14% in July 2025 [4]. - Among the top-performing funds from January to July 2025, 834 funds were analyzed, with 74% meeting the criteria for the top 20 performers [5]. Group 2: Top Performing Funds - The top three funds for the period of January to July 2025 are: 1. Zhongyin Hong Kong Stock Connect Medical Mixed Fund A (Code: 020397) with a return of 113.51% [5][10]. 2. Yongying Medical Innovation Selected Mixed Fund A (Code: 015915) with a return of 113.30% [5]. 3. Guangfa Growth Leading One-Year Holding Mixed Fund A (Code: 016243) with a return of 97.33% [5]. - The Zhongyin fund had a scale of approximately 139 million yuan as of the second quarter of 2025 and has achieved a cumulative return of 88.72% since its inception [10][11]. Group 3: Recent Year Performance - In the past year, all top 20 funds have achieved over 100% returns, with six being North Exchange theme funds and five being medical theme funds [12]. - The top three funds for the past year are: 1. CITIC Construction North Exchange Selected Two-Year Open Mixed Fund A (Code: 016303) with a return of 202.70% [12][17]. 2. Huitianfu North Exchange Innovation Selected Two-Year Open Mixed Fund A (Code: 014279) with a return of 152.49% [12]. 3. Wanjia North Exchange Wise Selection Two-Year Open Mixed Fund A (Code: 014277) with a return of 139.98% [12]. Group 4: Three-Year Performance - The top three funds over the past three years are: 1. Huitianfu North Exchange Innovation Selected Two-Year Open Mixed Fund A (Code: 014279) with a return of 135.25% [19][24]. 2. Jia Shi Mutual Fund Selected Stock A (Code: 006603) with a return of 120.26% [19]. 3. Wanjia North Exchange Wise Selection Two-Year Open Mixed Fund A (Code: 014277) with a return of 108.56% [19]. Group 5: Five-Year Performance - The top three funds over the past five years are: 1. Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund (Code: 004685) with a return of 262.69% [26][31]. 2. Dongwu New Trend Value Line Mixed Fund (Code: 001322) with a return of 183.15% [26]. 3. Dongwu Mobile Internet Mixed A (Code: 001323) with a return of 178.89% [26].

Group 1 - In the first seven months of the year, 7656 out of 8237 mixed funds with comparable performance saw an increase in net value, representing 92.95% of the total [1] - Eight mixed funds achieved a growth rate exceeding 100%, primarily focusing on investments in pharmaceutical companies [1] - The top-performing mixed funds include Changcheng Pharmaceutical Industry Select Mixed Fund A and C, with returns of 127.05% and 126.36% respectively [1] Group 2 - The other six mixed funds with growth rates over 100% include Bank of China Hong Kong Stock Connect Pharmaceutical Mixed Fund A, Yongying Pharmaceutical Innovation Select Mixed Fund A and C, and others, with returns ranging from 102.09% to 113.51% [2] - Yongying Pharmaceutical Innovation Select Mixed Fund A and C, established on November 22, 2022, reported returns of 90.60% and 88.63% respectively [2] - The top holdings of Yongying Pharmaceutical Innovation Select Mixed Fund A and C include companies like Innovent Biologics and BeiGene [2] Group 3 - The worst-performing mixed fund in the first seven months was Qianhai Kaiyuan Artificial Intelligence Theme Mixed Fund A, with a return of -19.15% [3] - This fund, established on May 4, 2016, has a cumulative return of 20.46% since inception [3] - The fund's focus in the second quarter was on stocks in the electronics and communication sectors related to edge AI [3]

Core Viewpoint - The article discusses the recent performance of the A-share market, highlighting a recovery in the Shanghai Composite Index after a political bureau meeting that released positive signals for the economy and investment opportunities in the innovative pharmaceutical sector [1][2][8]. Group 1: A-share Market Performance - The A-share market experienced a pullback but rebounded in the afternoon, with the Shanghai Composite Index closing in the green, reaching a new high for the year [2][7]. - The market showed significant structural differentiation, with consumer and banking sectors rising while technology and new energy sectors faced declines [6][7]. - The trading volume exceeded 1.84 trillion yuan, indicating active market participation [5]. Group 2: Political Bureau Meeting Insights - The Central Political Bureau meeting emphasized the need to "stably resolve local government debt risks" and introduced a roadmap for "clearing financing platforms," alleviating systemic risk concerns [9]. - The meeting also highlighted the importance of stimulating domestic demand and implementing actions to boost consumption, positively impacting sectors like tourism, retail, and food and beverage [10]. - A focus on technological innovation was reiterated, aiming to foster new competitive industries and integrate technological advancements with industrial development [12]. Group 3: Investment Opportunities in Innovative Pharmaceuticals - A significant number of funds have achieved over 100% returns this year, particularly in the innovative pharmaceutical sector, with several funds listed showing substantial year-to-date performance [17]. - Fund managers suggest a cautious yet optimistic approach to the innovative pharmaceutical sector, advising investors to match risk and return expectations and avoid excessive chasing of high-flying stocks [18][19]. - Key guidelines for selecting funds include focusing on long-term performance stability, understanding investment strategies, and aligning with personal risk preferences [20].

Group 1 - The core viewpoint of the report indicates that the construction materials and coal industries performed well during the period, with the Shanghai Composite Index rising by 1.67% and the Shenzhen Component Index increasing by 2.33% [2][9] - In the recent 12 periods, the comprehensive and pharmaceutical industries showed strong performance, suggesting potential investment opportunities in these sectors [9] - Active equity funds focusing on electronics and coal industries also demonstrated superior performance during this period [14] Group 2 - Among various fund types, actively managed stock funds increased by 1.55%, while mixed funds rose by 1.63%, and bond funds saw a slight decline of 0.16% [2] - The average return of convertible bond funds was notably high at 12.46% year-to-date, indicating a strong performance in this category [17] - QDII funds, particularly those focused on Asia-Pacific and emerging markets, led the performance with an increase of 2.56% during the period [19][21]

Core Insights - The innovative drug sector has seen significant growth this year, with the innovative drug index achieving a cumulative increase of 73.62% year-to-date, and over a quarter of its constituent stocks doubling in price [2][5] - Despite strong performance, there is a notable divergence in fund flows, with some high-performing funds experiencing substantial increases in scale while others face significant reductions [3][4] Fund Performance - Over 98% of pharmaceutical-related theme funds have reported gains this year, with 72 products seeing increases exceeding 50%. Notable performers include Changcheng Pharmaceutical Industry Select Mixed Fund A, which has achieved a return of 116.12% [1][2] - Conversely, some funds have reported negative returns, such as Taikang Medical Health Stock Fund A, which has a year-to-date return of -3.41% [2][3] Fund Flow Dynamics - There has been a significant inflow of funds into certain high-performing products, with some funds experiencing scale increases of over 30 times in a single quarter. For instance, Changcheng Pharmaceutical Industry Select Mixed Fund A's scale surged from 0.36 million to 11.32 million [3][4] - However, more than 30% of funds with returns exceeding 30% have seen a decrease in scale, indicating a complex investor sentiment [3][6] Investor Behavior - Investor behavior reflects a cautious approach, with some choosing to "take profits" amid concerns over short-term volatility. This has led to a significant outflow of over 6.7 billion from related pharmaceutical theme products in the past month [5][6] - Fund managers suggest that the current market adjustment may present a good opportunity for long-term investment in the innovative drug sector, which is believed to be undergoing a significant transformation [6][7] Market Outlook - The innovative drug sector is expected to continue attracting attention, with fund managers focusing on clinical data, overseas licensing, and domestic sales growth as key areas for investment [7]

Market Overview - The market has recently experienced an upward trend, reaching 3500 points, with active trading volumes around 1.5 trillion [1] - The technology growth sector has shown greater elasticity, with frequent rotation of market hotspots [1] Fund Performance - Active equity funds have outperformed index funds, with several funds showing remarkable performance [1] - A list of funds that have doubled in value over the past year has been compiled, focusing on active equity funds [2] Notable Funds - **Zhongou Digital Economy Mixed Fund A**: Achieved a daily increase of 7.02%, entering the "doubling fund" category, driven by Nvidia's approval to export H20 chips [3] - **Yongying Advanced Manufacturing Smart Selection Mixed Fund A**: Focuses on AI infrastructure and applications, with a high concentration in the AI sector [5] - **Ping An Advanced Manufacturing Theme Stock Fund A**: Managed by a former traditional automotive engineer, showing a diversified portfolio across various sectors [6] - **Zhonghang Trend Navigation Mixed Fund A**: Also emphasizes investment in the robotics industry, with a focus on machine learning and AI applications [7] Fund Holdings - **Zhongou Digital Economy Mixed Fund A**: Major holdings include Zhongji Xuchuang, with a 10.18% allocation, and other tech stocks [4] - **Ping An Advanced Manufacturing Theme Stock Fund A**: The top ten holdings account for only 36.90% of the portfolio, indicating a diversified approach [6] - **Zhonghang Trend Navigation Mixed Fund A**: Similar to other funds, it has a strong focus on the robotics sector, awaiting further updates from the second quarter report [7] Future Outlook - Fund managers express confidence in the potential of Chinese companies in the global AI landscape, anticipating significant innovations in core technologies [5]

Group 1 - Public funds in the pharmaceutical sector have shown significant excess returns, with an average net value growth rate exceeding 19% as of June 18, making it a market focus [1][3] - The average net value growth rate for all public funds is 2.83%, while over 260 pharmaceutical-related funds have achieved an average growth rate of 19.66%, indicating strong profitability [1][3] - Among the top 100 funds by performance, pharmaceutical funds occupy 49 positions, highlighting their strong earning effect [1] Group 2 - Funds specifically focused on "innovative drugs" have performed exceptionally well, with an average net value growth rate of 27.68%, and 21 funds exceeding 20% growth [3] - Key factors driving the strong performance of the pharmaceutical sector, particularly innovative drugs, include supportive policies such as improved drug procurement mechanisms and accelerated new drug approvals [3] - The period from 2025 to 2028 is critical for Chinese innovative drug companies to enter profitability, with 2025 being a pivotal year for the industry [3] Group 3 - Increased collaboration between domestic innovative drug companies and multinational pharmaceutical firms reflects the global competitiveness of China's innovative drug sector [4] - Fund managers are optimistic about the long-term investment value of the innovative drug sector, citing improved valuation post-adjustment and enhanced R&D efficiency due to domestic talent [3][4] - The government’s influence on drug procurement is diminishing, further supporting the growth potential of the innovative drug sector [3]