外资公募基金：高仓位运作、加仓港股

Group 1 - Foreign-funded public funds have maintained a high position in equity products, with some increasing their allocation to Hong Kong stocks in Q1 2025 [3][4] - Notable funds with over 90% equity positions include BlackRock, Fidelity, Morgan Stanley, and Schroders, among others [3] - Schroders significantly increased its Hong Kong stock allocation from 15.08% in Q4 2024 to 32.31% in Q1 2025 [3] Group 2 - Funds are diversifying their investments across technology, energy, and consumer sectors, with a focus on TMT (Technology, Media, and Telecommunications) and high-dividend stocks [6][7] - BlackRock's Hong Kong Stock Connect fund increased its holdings in Alibaba and reduced its stake in Tencent by nearly 50% [6] - Fidelity's fund adjusted its bank stock allocations, increasing its position in Industrial and Commercial Bank of China while reducing its holdings in China Merchants Bank and China Construction Bank [7] Group 3 - Fund managers are optimistic about quality technology assets and sectors that are expected to benefit from domestic demand policies [8] - Key sectors of interest include TMT, machinery, automotive, and chemical industries, as well as new consumption and defense industries [8] - Morgan Stanley is focusing on investment opportunities in intelligent computing infrastructure and AI applications [8]