影响价值圈层！创立于2011年，关注中国最具价值公司，是新中产的财富顾问。 导语：基金规模持续萎缩。 2025年是A股牛市第二年， 全市场4378只主动权益类基金超九成取得正收益 ，平均收益率超30%。 当 永赢科技智选基金踩中科技风口大涨 超 233 % 、 打破基金业17年历史纪录， 另一边却有产品逆势大跌近 20% 。 以下文章来源于深蓝财经 ，作者深蓝财经 深蓝财经 . Choice 数据显示，2025年， 鑫元消费甄选在主动 权益基金中亏损幅度最大，年内A/C份额净值均跌 近20 % ，在同类排名中分列最后两位。 | 序号 | 基金名称 | 2025年年年度的篇) | 故益率的同类排名 | 基金经理 | 成立时间 | | --- | --- | --- | --- | --- | --- | | | 蒸元消费甄选混合发起A | -19.6477 | 8051/8052 | 姚启辑 | 2023-03-24 | | | 由万泰信医药先锋股票A | -17.2888 | 4368/4369 | 姚宏福 | 2020-11-16 | | 3 | 中信建投留章生活A | -16.3290 | 8048/80 ...

2025年的A股，是一场被科技浪潮裹挟的结构性牛市。上证综指18.41%、深证成指29.87%、创业板指49.57%、科创50上涨35.92%——四大指数用两位数甚 至接近50%的年度涨幅，为公募基金行业写下浓墨重彩的一页。 然而，牛市从来不是普惠的馈赠。Wind数据统计，截至12月31日的数据显示，全市场公募基金（只含主份额，下同）2025年平均收益率为19%，有95%的产 品实现正收益，98只产品净值翻倍。其中，主动权益类基金更是扬眉吐气，平均收益率达32%，永赢科技智选混合发起A以233.29%的年度回报一骑绝尘。 | 证券代码 | 证券简称 | 基金管理人 | | 否初始基投资类型(二级分类)基金经理(现任) | | 基金成立日 | | --- | --- | --- | --- | --- | --- | --- | | 022364. OF | 水嬴科技智洗A | 水扁车金 | 走 | 偏股混合型基金 | 任等 | 2024/10/30 | | 018956. OF | 中航机遇领航A | 中航星金 | 是 | 偏股混合型基金 | 韩浩 | 2023/8/10 | | 001753. OF | 红 ...

Core Viewpoint - The A-share market has experienced a significant upward trend, leading to substantial gains for investors, particularly those investing in funds, with many achieving returns of over 50% [1] Fund Performance - Investors holding public funds in the Micro-Plate or North Certificate have seen returns around 50%, while index funds like the Sci-Tech 50 and ChiNext 50 have yielded approximately 30% returns [1] - Even more conservative indices such as the Shanghai Composite and CSI 300 have achieved around 15% returns [1] - Among 16,790 public funds, only 737 recorded negative returns, indicating that over 95% of funds achieved positive returns, with 95.5% of equity funds also performing positively [2] Underperforming Funds - In the actively managed equity fund sector, some funds have underperformed, with the worst eight funds experiencing declines between 4.2% and nearly 9% [3] - Specific funds like Minsheng Jianyin Preferred and Tianyi Quantitative Core Selection have faced significant losses due to poor stock selections and market adjustments [3] - The Tianyi Quantitative Core Selection fund has lost 40% over three years and 55% over five years, nearing liquidation [3] Market Strategy Challenges - Some skilled fund managers have struggled due to market changes, with Guolian An Fund Manager Xu Jun apologizing for negative returns due to a failed investment strategy that avoided highly recognized market sectors [4] - Esteemed fund manager Xu Yan also reported negative returns in the first half of 2025, citing an inability to invest in overvalued stocks, resulting in missed opportunities during the bull market [4]