办公室互殴、报警、送医……近日，鹏华基金两位基金经理互殴传闻在公募基金圈内引发轩然大波。传言当晚，两位当事人纷纷在朋友圈辟谣，称消息"属 于恶意诽谤，严重与事实不符"。鹏华基金也随后表态，公司已进行内部调查核实，相关传闻纯属谣言。 凤凰网财经《投资观察》注意到，传闻中的女基金经理闫思倩正是鹏华基金当红的权益基金经理，目前共管理六只基金。Choice数据显示，截至三季度末， 闫思倩整体管理规模达到208亿元，其中鹏华碳中和主题混合规模超过123亿，年内涨幅接近80%，位居同类基金排名前5%。 图源：鹏华基金公众号 不过，与规模增长形成鲜明对比的是该基金在2025年上半年却取得超过5亿元的亏损。 明星产品热销的背后，暗藏了高位接盘风险，持有人亏损带来的赎回压力也会随之而来。结合鹏华基金混合型基金规模四年间近乎腰斩的数据，对于这家管 理规模刚刚跨入万亿俱乐部的老牌公募机构来说，风光背后亦难掩权益业务失衡的隐忧。 明星基金经理"复制粘贴"，新基热销背后的高位风险 凤凰网财经《投资观察》发现，闫思倩主管的鹏华碳中和主题混合，凭借对人形机器人板块的高度集中配置，从一季度开始迎来净值的迅速攀升，在9月创 单位净值的历史高点 ...

新基金发行市场再现"日光基"。 10月以来，已有近40只基金宣布提前结募，其中不乏主动权益类产品，且多只为"一日售罄"的小爆款。 中欧鑫悦回报一年持有期混合"一日售罄"，启动比例配售 11月13日下午，中欧基金接连发布关于中欧鑫悦回报一年持有期混合提前结束募集及进行比例配售的公告。 根据公告，中欧鑫悦回报一年持有期混合于2025年11月13日开始募集，原定募集截止日为2025年11月26日。截至2025年11月13日，该基金累计有效认购申 请金额已超过本次募集规模上限15亿元（不含募集期利息），公司决定将本基金募集截止日提前至2025年11月13日。同时，将对2025年11月13日的有效认 购申请采用"末日比例确认"的原则予以部分确认。 11月13日，中欧基金发布公告称，旗下中欧鑫悦回报一年持有期混合发行首日便达到15亿元募集上限，提前结束募集，并启动比例配售。 权益基金发行持续回暖 近期，已有多只权益基金宣布提前结束募集。据记者不完全统计，10月以来，近40只基金宣布提前结募，其中不乏主动权益类产品。 范妍掌舵的富国兴和混合于11月3日首发，随后富国基金发布公告，发行首日募集金额已突破30亿元募集规模上限， ...

Core Viewpoint - The article highlights the rapid success of the China Europe Fund's new product, the China Europe Xinyue Return One-Year Holding Mixed Fund, which reached its fundraising cap of 1.5 billion yuan on its first day of issuance, leading to an early closure and proportional allocation of subscriptions [2][5]. Fundraising Trends - Since October, nearly 40 funds have announced early closures, with many being actively managed equity products that sold out on the first day [3][9]. - The trend of early fundraising closures indicates a resurgence in the equity fund issuance market [8]. Fund Manager Profile - The fund manager for the China Europe Xinyue Return One-Year Holding Mixed Fund is Lan Xiaokang, who is also the head of the Value Strategy Group at China Europe Fund [6]. - Lan Xiaokang has a strong track record, having managed the China Europe Hongli Youxiang Mixed Fund, which has consistently outperformed benchmarks and has a maximum drawdown significantly lower than the Shanghai Composite Index [6]. Investment Style - Lan Xiaokang's investment style is characterized by "contrarian thinking" and "balanced allocation," focusing on achieving a dynamic balance among valuation, corporate quality, and long-term growth potential [7].

Core Insights - The number of new funds established in 2023 has surpassed the total for the entire year of 2022, indicating a recovery in the fund issuance market [2][3][5] - The stock fund segment has particularly thrived, with a significant increase in both the number and scale of new stock funds, reflecting strong investor interest [4][5][6] Fund Issuance Overview - As of October 25, 2023, a total of 1,187 new funds have been established, exceeding last year's total of 1,135 funds, showcasing a recovery trend in fund issuance [5] - The total fundraising amount for new funds this year is 922.347 billion units, which is still 20% lower than last year's total of 1,183.833 billion units; the average issuance size is at a historical low of 777 million units, excluding the year 2000 [5] - Stock funds have been the main focus, with 676 new stock funds established this year, accounting for nearly 57% of all new funds, marking a historical high [5] Stock Fund Performance - The total fundraising for stock funds this year is 345.653 billion units, surpassing the total for the years 2022, 2023, and 2024, and representing 37.5% of the total fundraising for new funds, the highest since 2012 [5] - Despite the increase in the number of stock funds, the average fundraising size remains relatively small at 511 million units [5] Active Equity Fund Trends - The issuance of active equity funds has shown signs of structural recovery, with several funds announcing early closure of their fundraising periods due to high demand [7][8] - Notable examples include the Invesco Great Wall Fund and the Harvest Fund, which both closed their fundraising early due to strong subscription amounts [8] - However, the market remains uneven, with significant differences in the performance of new fund issuances, particularly between passive index funds and active equity funds [9] Market Dynamics - The current market environment has led to a rise in investor risk appetite, contributing to the improved fundraising performance of some new funds [9] - Despite the positive trends, older funds continue to face challenges in marketing and growth, as many are unable to keep pace with market changes [9] - The ongoing market heat and recovery in investor confidence are expected to support further improvements in the issuance of active equity funds, with a focus on high-growth sectors and well-known fund managers likely to attract more capital [9]