jwangkun china-variance-commentary
Purpose
Write professional 基金业绩点评 — structured variance commentary on fund performance and portfolio changes.
Data Sources
Tier 0 — 万得 Wind（最全面付费数据）
- 覆盖：A股/港美股/基金/指数/债券/宏观/研报/分析（44个工具）
- MCP 服务：
wind-mcp（需WIND_API_KEY密钥，以ak_开头） - 优势：全市场覆盖面最广、数据最全面、包含研报和量化分析
- 密钥申请：https://aifinmarket.wind.com.cn/#/home
Tier 1 — 同花顺 iFind（付费精确数据）/ AkShare MCP（Tier-2 免费备选）
get_fund_data(fund_code) → Fund NAV, performance
get_quote(ticker) → Individual security performance
get_index_data("000001") → Benchmark data
Secondary Sources
- 基金公司 — fund performance data
- 托管行 — custody data
- Wind / Choice — performance analytics
Workflow
Step 1: Gather Performance Data
Performance snapshot:
| Metric | Period | Benchmark | Active Return |
|---|---|---|---|
| 净值增长率 | X.XX% | X.XX% | X.XX% |
| 年化收益率 | X.XX% | X.XX% | X.XX% |
| 波动率 | X.XX% | X.XX% | |
| 夏普比率 | X.XX | ||
| 最大回撤 | X.XX% | ||
| 卡尔马比率 | X.XX |
Step 2: Attribution Analysis
Performance attribution:
| Factor | Contribution | Description |
|---|---|---|
| 资产配置 (Allocation) | X.XX% | Sector/security weight decisions |
| 个股选择 (Selection) | X.XX% | Security picking within sectors |
| 交互效应 (Interaction) | X.XX% | Combined effect |
Step 3: Sector Attribution
Sector performance:
| Sector | Weight | Return | Contribution | Benchmark Weight | Benchmark Return | Allocation Effect | Selection Effect |
|---|---|---|---|---|---|---|---|
| Total | 100% |
Step 4: Top/Bottom Contributors
Best/worst performers:
| # | Security | Ticker | Weight | Period Return | Contribution |
|---|---|---|---|---|---|
| 1 (Best) | |||||
| 2 | |||||
| 3 | |||||
| ... | |||||
| (Worst) | |||||
| (2nd Worst) | |||||
| (3rd Worst) |
Step 5: Risk Analysis
Risk metrics:
| Metric | Value | Benchmark | Assessment |
|---|---|---|---|
| 波动率 | X.XX% | X.XX% | Higher/Lower |
| 最大回撤 | X.XX% | X.XX% | |
| 下行偏差 | X.XX% | X.XX% | |
| VaR (95%) | X.XX% | ||
| Beta | X.XX | ||
| Alpha | X.XX% |
Step 6: Holdings Changes
Changes since last period:
| Action | Security | Ticker | Reason | Impact |
|---|---|---|---|---|
| New buy | ||||
| Add to | ||||
| Reduce | ||||
| Sold |
Step 7: Market Context
Market environment:
| Factor | Current | Prior Period | Change |
|---|---|---|---|
| 上证指数 | |||
| 沪深300 | |||
| 创业板指 | |||
| 北向资金 | |||
| 成交量 |
Step 8: Commentary
Standard format:
【业绩点评】[Fund Name] [Period]
报告期：[Date]
单位净值：¥X.XXXX
净值增长率：+/-X.XX%
基准收益率：+/-X.XX%
超额收益：+/-X.XX%
一、业绩概览
[Overall performance summary]
二、归因分析
[Attribution breakdown]
三、行业分析
[Sector attribution]
四、重仓股表现
[Top/bottom contributors]
五、风险指标
[Risk metrics]
六、持仓变动
[Changes in portfolio]
七、市场回顾
[Market context]
八、展望
[Forward outlook]
China-Specific Considerations
Fund Benchmarks
| Fund Type | Typical Benchmark |
|---|---|
| 股票型基金 | 沪深300 / 创业板指 |
| 债券型基金 | 中债综合指数 |
| 混合型基金 | 沪深300 × 50% + 中债 × 50% |
| 指数基金 | Tracking index |
| QDII | Relevant foreign index |
Performance Presentation
| Convention | China Practice |
|---|---|
| Return calculation | Geometric |
| Benchmark | Contractual |
| Reporting frequency | Daily for public funds |
| Risk metrics | Standard set |
Quality Checks
Before delivering:
- Performance data accurate
- Attribution complete
- Top/bottom contributors identified
- Risk metrics calculated
- Holdings changes documented
- Market context current
- Commentary balanced
Data Source Mode Switch: Set env var
IFIND_DATA_SOURCE_MODEto control data source preference.ifind-only(strict): Use iFind only, error if unavailableifind-fallback(default): iFind preferred, fallback to AkShareakshare-only: Skip iFind, use AkShare onlywind-only: Wind only, error if unavailablewind-fallback: Wind first, fallback to iFind → AkShare