Core Viewpoint - The A-share market is active, highlighting the value of equity funds, with the Wind statistics showing a 52.08% increase in the Wande偏股混合型基金指数 since the "924" financial policy was implemented, outperforming the 39.11% increase in the CSI 300 index during the same period [1][2]. Group 1: Fund Performance and Characteristics - The newly launched Silver华甄选价值回报混合 fund (A类: 023839, C类: 023840) aims to provide investors with a quality investment tool amidst the rising A-share market [1]. - The fund is a mixed-type fund with an investment portfolio where equity assets account for 60%-95% of the total fund assets [1]. - Zhang Teng, the proposed fund manager, has 14 years of experience in the securities industry and over 9 years in fund management, focusing on value stocks and having a deep understanding of industries such as coal, non-ferrous metals, electric power, and public utilities [1]. Group 2: Future Outlook - The value style is expected to be attractive in both the short and long term, supported by the economic recovery cycle, policy encouragement for dividends, and relatively low valuations in value sectors [2]. - The Silver华甄选价值回报混合 fund is positioned to capture new opportunities in equity assets and value styles, particularly as the domestic economy transitions to a lower growth phase and a broad low-interest-rate environment [2].

Core Viewpoint - The A-share market has reached a ten-year high, prompting investors to focus on strategies for positioning above 3800 points, with a strong emphasis on growth styles and the potential for value styles to complement investment portfolios [1] Group 1: Market Overview - The current market is characterized by a hot trend, with growth styles continuing to perform well, while value styles may become an important addition to investment strategies [1] - The launch of the Silver Hua Selected Value Return Fund (Class A: 023839, Class C: 023840) on September 1 is expected to help investors seize opportunities in equity investments [1] Group 2: Fund Management and Performance - Zhang Teng, the fund manager, has a strong educational background and extensive experience in the securities industry, focusing on sectors such as coal, non-ferrous metals, and public utilities [1] - As of August 15, 2025, the Silver Hua Ruihe Flexible Allocation Mixed Fund (005544) has shown a year-to-date net value growth rate of 29.69%, significantly outperforming its benchmark [2] - The fund's performance over the past year has been impressive, with a net value growth rate of 45.77%, ranking 84 out of 415 in its category [2] Group 3: Investment Strategy - The current A-share market exhibits clear cycles and style rotations, with value styles showing strong adaptability to market conditions [2] - Short-term indicators suggest a potential reversal from growth to value styles, as low-positioned consumer and cyclical sectors are expected to see a rebound [2] - Long-term economic shifts in China, characterized by a transition to a broadly low-interest-rate environment, are increasing the attractiveness of value stocks with high dividends and low valuations [2]