智通财经网·2025-04-22 08:24Core Insights - The report highlights the performance of the Fuqua Tianhui Select Growth Fund, which increased its holdings in companies like BYD, Ningbo Bank, and Ruifeng New Materials during Q1 2025, with Kweichow Moutai remaining the largest holding [1][2] - The fund's net asset value growth rates for different classes were 3.56% for A/B and D classes, and 3.35% for C class, while the benchmark return was -1.09% across all classes [1] Market Overview - The Shanghai and Shenzhen 300 Index fell by 1.21%, and the ChiNext Index dropped by 1.77% in Q1 2025, indicating a challenging market environment [2] - Despite the downturn, there are signs of recovery in the real economy, with a slowdown in the decline of the real estate sector and indications of investment recovery [2] Investment Strategy - The fund manager emphasizes the importance of focusing on high-quality stocks with strong corporate governance and management, as these are more likely to generate value for investors in the long term [2] - The report suggests that the current market conditions may lead to increased volatility, and a more proactive fiscal and monetary policy is anticipated [2] Top Holdings - As of Q1 2025, the top ten holdings of the Fuqua Tianhui Select Growth Fund include Kweichow Moutai, Ningbo Bank, Midea Group, Chuanfeng Power, Luxshare Precision, CATL, Ruifeng New Materials, BYD, Guocera Materials, and Binjiang Group, with Binjiang Group being a new addition to the top holdings [3]