公募基金5月月报 | 发生了什么？基金业绩榜变化这么大！

Market Performance - In May, the A-share market experienced a volatile upward trend, with the Shanghai Composite Index rising by 2.09% and the Shenzhen Component Index increasing by 1.42%, while the Sci-Tech Innovation 50 Index fell by 3.50% [1] - The performance disparity among indices indicates significant divergence in public fund performance, with several long-standing top-performing funds experiencing notable declines [1] Mixed Fund Performance - The mixed fund performance saw substantial changes, with previously top-ranked funds heavily invested in the robotics sector, such as Penghua Carbon Neutral and Qianhai Kaiyuan Jiaxin, dropping significantly in rankings [2][4] - The top two funds currently are CITIC Construction Investment North Exchange Selected Two-Year Open and Huaxia North Exchange Innovative Small and Medium Enterprises Selected Two-Year Open, with year-to-date returns of 69.30% and 67.38%, respectively [2][4] Stock Fund Performance - The stock fund performance also showed significant changes, with the top-performing fund, Zhongyin Dajiankang A, achieving a monthly increase of 10.22% and a year-to-date increase of 56.21% [12] - Notably, two stock funds, Anxin Medical Health and Hongtu Innovation Medical Health, recorded monthly gains exceeding 15% [12][14] Sector Insights - The North Exchange 50 Index reached a historical high in May, with a monthly increase of 5.83%, outperforming the Shanghai and Shenzhen stock markets [4] - The performance of innovative pharmaceutical companies is highlighted, with domestic firms expected to enter a profitable phase, supported by recent overseas licensing deals and favorable policy developments [6] Fund Manager Insights - Fund managers managing top-performing funds have indicated that the focus on innovative drugs and healthcare sectors is yielding positive results, with several funds achieving over 50% returns year-to-date [5][6] - The performance of funds heavily invested in the robotics sector has been adversely affected, with significant declines noted in May [4][7] Declining Funds - The mixed fund decline list includes products with year-to-date declines exceeding 30%, with the top six funds managed by Jinzicai from Caitong Fund showing the largest losses [7][8] - The worst-performing fund, Jianxin China Manufacturing 2025 A, has seen a year-to-date decline of 21.49%, primarily due to poor performance in sectors outside of its top holding, BYD [16][17]