2025上半年基金成绩单：冠军基收益近90%，医药与北交所主题霸榜，广发成长领航一枝独秀

Core Insights - The performance of public funds in the first half of 2025 has been notably strong, particularly in the pharmaceutical and North Exchange theme funds, with some funds achieving returns close to 90% [1][5] - Over 60% of the top 20 funds are pharmaceutical-themed, with significant contributions from fund managers who have demonstrated exceptional management capabilities [2][5] Fund Performance - The top-performing fund, Huatai-PineBridge Hong Kong Advantage Selection A, achieved a return of 89.15%, while Changcheng Pharmaceutical Industry Selection A ranked third with a return of 73.58% [2] - Other notable funds include Bank of China Hong Kong Stock Connect Pharmaceutical A, Yongying Pharmaceutical Innovation A, and Huashan Pharmaceutical Biotechnology A, all exceeding 60% returns [2] - Fund managers Zhou Sicong, Zhang Wei, and Zheng Ning have multiple funds in the top 20, showcasing their focus on the pharmaceutical sector [2][3] Fund Size and Composition - Small funds (under 50 million) dominate the performance list, with 45% of funds in this category achieving the highest average returns [3] - The only large fund in the top 20 is the Huatai-PineBridge National Index Hong Kong Stock Connect Innovative Drug ETF, with a return of 57.27% and a size of 7.609 billion [4] - North Exchange theme funds have also performed well, with notable returns from funds like CITIC Construction North Exchange Selection Two-Year Open A and Huaxia North Exchange Innovative Small and Medium Enterprises Selection Two-Year Open [4] Market Trends - The strong performance of pharmaceutical stocks and the policy benefits from the North Exchange have shaped the fund performance landscape in the first half of 2025 [5] - Many of the top-performing funds have been established for less than three years, indicating a need for further market validation of their performance sustainability [5]