规模激增百倍，这些基金，逆袭！

Core Viewpoint - In the first quarter of this year, there was a significant differentiation in the scale of various fund products, with many mini funds in the actively managed equity category experiencing substantial growth, particularly those focusing on technology and consumer themes [1][3]. Fund Performance - A total of 117 actively managed equity products saw their scale multiply, with 34 funds successfully escaping the "mini" status, achieving scale increases of over 160 times [1][3]. - Over 70% of the mini funds that reversed their scale had a positive unit net value growth rate in the first quarter [1]. Notable Mini Funds - The "Qianhai Kaiyuan Jiaxin A" fund saw its scale grow from 0.36 billion to 25.16 billion, an increase of 162.9 times, with a unit net value growth rate of 48.84% [2][3]. - The "Ping An Advanced Manufacturing Theme A" fund increased its scale from 0.48 billion to 13.21 billion, nearly a 20-fold increase, with a unit net value growth rate of 53.65% [4][5]. - The "Huaxia Consumption Zhenxuan A" fund grew from 0.34 billion to 2.47 billion, over a 4-fold increase, with a unit net value growth rate of 8.45% [6][8]. Investment Strategies - The "Qianhai Kaiyuan Jiaxin A" fund focused on growth sectors such as automotive, machinery, and power equipment, significantly increasing its holdings in stocks like "Landai Technology" and "Shuanglin Shares" [3][4]. - The "Ping An Advanced Manufacturing Theme A" fund concentrated on humanoid robots and made strategic adjustments within the robotics sector, focusing on companies with relatively low valuations [5][6]. - The "Huaxia Consumption Zhenxuan A" fund tilted its holdings towards "technology + consumption" themes, maintaining a high position to capture recovery elasticity [8]. Market Context - The equity market showed a clear recovery in the first quarter, driven by continuous policy support to boost consumption, particularly in the technology sector surrounding AI and robotics [9]. - Mini funds are noted for their ability to leverage their smaller size and operational flexibility to quickly adjust portfolios and capture investment opportunities, leading to excess returns [9].