首批基金一季报出炉：“人形机器人+AI”成为“新风口”

Core Viewpoint - The first batch of public fund reports for Q1 2025 reveals that fund managers are maintaining high positions and focusing on technology and growth sectors, particularly in humanoid robots, AI, and semiconductors [1][8]. Fund Positioning - Among the 67 disclosed funds, 44 are actively managed equity funds, with 22 funds having positions over 90% and 18 funds between 80% and 90%. Only one fund has a position below 80% [2][3]. - 56% of the actively managed equity funds increased their positions in Q1 2025, while 44% reduced their positions. Notably, six funds increased their positions by more than 5 percentage points [2][3]. Fund Performance - The "Wande Equity Mixed Fund Index" rose by 4.65% in Q1 2025, with approximately 76% of the 4,482 actively managed equity funds reporting positive returns [5][6]. - The best-performing fund, managed by Yan Siqian, achieved a return of 60.26%, while the worst-performing fund saw a decline of 24.58% [7][8]. Investment Focus - Fund managers are increasingly focusing on the humanoid robot sector, with significant investments in companies like Hengli Hydraulic and Zhejiang Rongtai [9][10]. - The investment landscape is characterized by a strong emphasis on technology and growth sectors, particularly in AI and robotics, which are seen as new investment opportunities [11][12].