| 成立日期： | 2025-07-04 | | --- | --- | | 基金规模（亿元）： | 14.78 | | 基金规模日期： | 2025-11-24 | | 基金经理： | 黄思远、范致贞、郭韶瑜 | | 基金公司： | 瑞士百达资产 | | 年度综合费率： | 1.69% | 该基金采取灵活的策略投资全球各项资产，强调以动态资产配置适应不同市场环境，实现优越的风险调整后回报。 从历史持仓来看，股票和债券的仓位均可在宽幅区间内灵活调整，其中股票仓位的调整范围为 20%-70% ，债券仓位 的调整范围为 15%-60% ，现金仓位有时可达 20% 。此外，组合还可投资黄金、另类资产和房地产，各项资产的比例 通常不超过 5% 。自 2017 年 5 月至 2025 年 10 月底，该基金在主基金经理黄思远先生管理期内的年化回报为 7.93% ，超 越晨星同类基准指数 90 个基点，在同类基金中排名第 14 个百分位。组合的年化综合费率为 1.69% ，略高于同类基金 中位数的 1.63% 。 风险提示：基于该基金对全球资产的灵活配置策略，基金经理对资产配置、行业、个股和个券的选择会影 响基金的表现。 ...

Core Insights - The article highlights the strong performance of Hong Kong mutual funds in October 2025, with significant net inflows across equity, bond, and mixed funds, indicating robust investor interest [1][7]. Fund Performance - The Swiss Pictet Strategic Income Fund led the market with a net inflow of 957 million yuan in October, attributed to its diversified global equity and bond allocation, yielding impressive returns year-to-date [1]. - The Morgan Asia Dividend Fund also performed well, achieving a net inflow of 927 million yuan, continuing its positive momentum against the MSCI Asia Pacific ex-Japan Index [1]. - The HSBC Asian Multi-Asset High Income Fund, newly opened to mainland investors since September 2025, saw a net inflow of 578 million yuan, ranking among the top ten for the month [1]. Market Trends - After a brief suppression following the rebound in Asian and A-share markets in Q3 2025, Asian bond funds regained investor favor in October, with several products entering the top ten for net inflows [1]. - Some bond funds, such as the Bank of China Hong Kong All-Weather Asian Bond Fund, suspended new subscriptions due to nearing sales limits for mainland investors [1]. Company Rankings - Morgan topped the charts for both monthly and year-to-date net inflows, while HSBC ranked second, benefiting from new product launches and the reopening of the HSBC Asian Bond Fund to mainland investors [7]. - Despite stable monthly inflows for its two equity mutual funds since August 2025, the overall fund flow for Huatai PineBridge remains in net outflow territory year-to-date [8]. Market Share - As of October 31, 2025, Morgan and HSBC held dominant positions in the Hong Kong mutual fund market, with asset sizes of 81 billion yuan and 34.9 billion yuan, respectively, collectively accounting for over 60% of the market [13]. - Huatai PineBridge also holds a significant market share, exceeding 10% [13].