Core Insights - As of the end of Q2 2025, the number of active equity fund managers with assets under management exceeding 10 billion yuan reached 84, an increase of 15 from the end of 2024 [1][3] - This new group of fund managers includes both seasoned professionals with extensive research backgrounds and emerging talents who have rapidly grown during recent strong thematic market trends [3][4] Group Characteristics - Notable companies with multiple fund managers on the list include Huatai-PineBridge, China Universal, and Yongying, indicating strong performance in the industry [3] - Common investment targets among these fund managers include stocks like CATL, Shenghong Technology, and Tencent Holdings, reflecting a focus on high-potential sectors [3] Performance Metrics - The structural rally in the A-share market this year has provided significant performance opportunities for active equity investments [3] - The threshold for the top ten performing fund managers who achieved over 10 billion yuan in assets this year was a return of 35.05%, with Zhang Wei from Huatai-PineBridge leading at 75.67% [3][4] Growth in Assets - The top ten new billion-yuan fund managers saw a net growth in assets of at least 3.102 billion yuan, with Zhang Lu and Gao Nan from Yongying leading with increases of 13.388 billion yuan and 10.779 billion yuan, respectively [4] - Zhang Lu's assets grew from 2.025 billion yuan at the beginning of the year to 15.413 billion yuan by the end of Q2, marking a more than sevenfold increase [4] Investment Strategies - Gao Nan's management strategy focuses on a diversified approach, emphasizing growth and consumption sectors, with significant investments in companies benefiting from consumer recovery and AI trends [4] - The emergence of new billion-yuan fund managers reflects a shift towards diverse strategies, where short-term performance can attract large-scale investments, provided there is a clear investment framework [4] Experience and Background - All new billion-yuan fund managers possess at least four years of investment experience, with four having over ten years in the industry, indicating a trend towards experienced professionals in this segment [4]

Core Insights - The public fund management scale has reached a new historical high of 34.05 trillion yuan as of the end of Q2 2025, with a quarterly increase of over 2.24 trillion yuan [1][2] - The main contributors to this growth are bond funds, money market funds, and equity funds, with bond funds increasing by 865.32 billion yuan, money market funds by 950.54 billion yuan, and equity funds by 271.15 billion yuan [2] Fund Management Scale - As of the end of Q2 2025, the management scale of various fund types includes: equity funds at 4.74 trillion yuan, mixed funds at 3.32 trillion yuan, bond funds at 10.77 trillion yuan, and money market funds at 13.93 trillion yuan [1] - The public fund management scale has consistently increased since surpassing 30 trillion yuan in April 2024, with multiple records set thereafter [1] Leading Fund Companies - The top ten public fund management companies include E Fund, Huaxia Fund, and GF Fund, with E Fund managing 2.16 trillion yuan and Huaxia Fund managing 2.10 trillion yuan, marking them as the only two companies above the 2 trillion yuan threshold [2][3] - Huaxia Fund experienced the largest growth in management scale in Q2, increasing by 184.76 billion yuan [2] Non-Money Market Fund Growth - In the non-money market fund category, the top ten companies include E Fund, Huaxia Fund, and GF Fund, with both Huaxia and E Fund seeing increases of over 100 billion yuan in management scale [3] - Several thematic funds have also seen significant growth, particularly index funds, driven by large capital inflows into broad-based index ETFs [3][4] Thematic Fund Performance - Among actively managed equity funds, thematic funds have shown substantial growth, with the highest increase seen in the Huatai-PineBridge Innovation Medicine Mixed Fund, which grew by 4.36 billion yuan [4] - Other notable funds include Huaxia Military Industry Security Mixed Fund and Yongying Advanced Manufacturing Select Mixed Fund, both of which also experienced significant scale increases [4]

5月24日，汇添富基金公告旗下产品"汇添富创新医药"解聘基金经理郑磊，该基金交由当前共同管理该产品的张韡来管理。张韡于2025年4月10日被增聘 为"汇添富创新医药混合"的基金经理，经过大约一个半月时间的交接，郑磊正式退出由张韡接棒。 郑磊，复旦大学社会医学与卫生事业管理硕士。曾任国泰君安证券研究员、中海基金医药行业分析师、基金经理。2017年11月加入汇添富基金管理股份有限 公司，2018年8月8日开始任"汇添富创新医药"的基金经理，这也是郑磊在汇添富基金管理的第一只产品。 图中人物系汇添富基金 基金经理 郑磊 张韡业绩优秀、管理规模创新高，郑磊业绩不佳、管理规模持续萎缩 引起这次基金经理变更的直接导火索是今年以来张韡的业绩要显著跑赢郑磊。根据wind统计，截止2025年05月23日，张韡的投资经理指数今年以来的收益率 是34.31%，而郑磊的投资经理指数今年以来的收益率是16.61%。 下图是张韡的投资经理指数表现 值得注意的是，郑磊和张韡均是汇添富基金旗下管理医药主题基金的基金经理，郑磊比张韡管理公开产品的时间更长，郑磊的投资经理年限9.70年，张韡的 投资经理年限为4.17年。截至2025年3月31日 ...