Group 1 - Institutional funds are focusing on technology and new energy sectors, employing a "barbell strategy" to enhance allocations in high-growth segments while reducing exposure to traditional cyclical industries [1][4] - The electronic industry has seen a net inflow of 387 billion yuan, accounting for 32% of the total market fund increase, with semiconductors and consumer electronics experiencing significant growth [2] - The banking sector has become a standout performer, with social security funds holding over 230 billion yuan in bank stocks, reflecting a preference for high dividend yields amid economic recovery [3] Group 2 - Northbound funds have shown a preference for technology and new energy, with significant increases in allocations to electronics, power equipment, and automotive sectors, while traditional sectors like real estate and coal have seen reductions [4] - The pharmaceutical sector has experienced a slight decrease in fund allocation, although some innovative drug and CXO sub-sectors are beginning to attract investment [5] - The real estate sector faced a net outflow of 98 billion yuan, marking the highest level since 2015, with major developers like Vanke and Poly Development seeing over 30% reductions in holdings by social security funds [6]
年报机构资金动态：“左手科技创新、右手红利防御”，传统周期板块遭冷遇
Di Yi Cai Jing·2025-05-19 08:30