基金忠言｜科技股基金迷人眼，杜猛杨锐文立标杆

Core Viewpoint - Since 2025, multiple fund companies have intensified their marketing efforts in the technology stock fund sector, employing various innovative strategies to attract investors [2] Group 1: Fund Characteristics - Technology stock funds are characterized by high volatility and risk due to significant fluctuations in performance and valuation [2] - Some fund companies misrepresent high beta as alpha, potentially misleading investors [2] Group 2: Fund Managers' Background - Notable fund managers with over 10 years of strong historical performance are rare in the technology stock fund sector [2] - Yang Ruiwen from Invesco Great Wall has managed 9 funds with a total scale of approximately 25 billion, achieving an average annualized return of over 12% since 2014 [2] - Du Meng from Morgan Asset Management has managed 4 funds totaling about 11 billion, with a similar average annualized return exceeding 12% since 2011 [3] - Liu Yuanhai from Dongwu Fund has managed 5 funds with a total scale of over 7 billion, achieving an average annualized return close to 14% since 2012, with all funds showing positive returns [3] Group 3: Investment Strategy - Investors should compare technology stock funds carefully, focusing on the research team's strength, the fund manager's professional background, and their ability to control drawdowns [3] - Investors need to be prepared for significant fluctuations in net value and trust experienced fund managers to navigate these changes for long-term growth [3] Group 4: Cautionary Advice - Investors should be wary of exaggerated marketing claims and avoid being misled by trendy activities and promotional content [4] - Caution is advised when considering fund managers with only a few years of performance history [4] - It is recommended to choose fund companies and managers with a clean historical record and no significant losses for investors [4][5]