这一事件也给基民上了一课。 作者 | 破浪 编辑 | 小白 在这光怪陆离的资本市场，最让投资者心寒的瞬间，并非指数的整体下跌，而是当你满怀信任托付资 金，却发现操盘手在同一片天空下，玩出了两套截然不同的结局。 最近，一则关于泰康基金的消息在投资圈炸开了锅：一边是基金经理利用自有资金（或亲属账户）重 仓科技股狂赚5000万，另一边却是信任他的基民们，守着满仓的传统"老登股"，不仅踏空了牛市，甚 至还承受着巨额亏损。 在管权益产品业绩惨淡 事情的起因源于财联社近期的一篇深度报道，随后被多家财经媒体抽丝剥茧，最终将矛头指向了泰康 基金旗下的基金经理桂跃强。 故事的情节极具戏剧性。据公开信息显示，这位基金经理凭借对市场的敏锐嗅觉，利用自有资金（据 称是其配偶名下账户）精准押注了科技赛道，浮盈一度超过5000万元。 | 年份 | 泰康蓝筹优势 | 泰康蓝筹优势基准 | 沪深300 | 普通股票型基金 | | --- | --- | --- | --- | --- | | 2026 | 1.28% : | 1.73% : | 1.66% : | 7.44% | | 2025 | 1.44% | 15.83% : | 17 ...

Core Viewpoint - The performance of fund manager Gui Yueqiang from Taikang Fund shows significant divergence across different product types, with equity products underperforming the market while fixed-income products have not met benchmarks either [1][27]. Group 1: Performance Overview - Gui Yueqiang's equity products have a three-year return of 3.89%, underperforming the CSI 300 index [1]. - His fixed-income products have a three-year return of 6.47%, also failing to beat the China Bond Composite Index [1]. - The two actively managed equity funds have seen losses exceeding 16% over three years, significantly trailing their performance benchmarks [2]. Group 2: Fund Composition and Holdings - Major holdings in the equity funds include Tencent Holdings (9.78%), Fuyao Glass (A+H combined 7.64%), and Nongfu Spring (3.03%) [3]. - The fixed-income investments constitute only 3.94% of the portfolio, indicating a core strategy driven by equity investments [3]. - The asset allocation in the third quarter report shows a concentration in manufacturing (40.74%), telecommunications (13.33%), and public utilities (2.36%), with no holdings in traditional blue-chip sectors like finance and real estate [8]. Group 3: Fund Performance Metrics - The Taikang Advantage Enterprise A fund has an asset size of 764 million yuan, with a return of -29.79% since its management began on December 22, 2020 [2]. - The Taikang Blue Chip Advantage fund has an asset size of 248 million yuan, with a total return of 1.56% since August 14, 2020, and a three-year return of -16.49% [5]. - The Taikang Hongtai Return A fund has an asset size of 450 million yuan, with a total return of 69.81% since June 8, 2016, but a three-year return of 6.25%, which does not beat its benchmark [15]. Group 4: Risk and Strategy - The fixed-income products generally maintain a solid foundation with over 75% in fixed income, focusing on high-quality bonds and minimizing credit risk [9][27]. - The equity products have shown a concentrated style, which has not yielded excess returns during recent market fluctuations [27].