上半年“最牛基金”赚超85% 医药基金成赢家

Group 1 - The public fund market in China reached a new high of 33.74 trillion yuan, with a steady overall scale above 32 trillion yuan in the first half of 2025, indicating strong growth in equity funds [1] - Active equity funds, including various types such as ordinary stock funds and mixed funds, showed outstanding performance, with 81.6% of 6,471 products achieving floating profits in the first half of 2025 [2] - The North Exchange market has gained attractiveness, with public institutions increasing their heavy positions to 6.743 billion yuan, a 24.45% increase from the end of 2024 [2] Group 2 - Several high-growth companies on the North Exchange, such as Yizhi Moyu and Xingtou Measurement Control, have seen their stock prices rise over 120% year-to-date, reflecting market confidence in their future growth [3] - The QDII fund, Huatai-PineBridge Hong Kong Advantage Select C, topped the market with an 86% return, heavily investing in Hong Kong pharmaceutical stocks [3] - The innovative pharmaceutical sector is transitioning from a thematic-driven phase to a commercial model realization phase, marking a critical turning point [4] Group 3 - Many top-performing active equity funds in the first half of 2025 were heavily invested in pharmaceutical stocks, with the Longcheng Pharmaceutical Industry Select Fund achieving a 62.26% return [5] - The innovative pharmaceutical industry has become a leading market trend, driven by policy benefits, capital injection, and industrial momentum [5] - The focus for the second half of 2025 should be on high-potential products in the ADC and bispecific antibody sectors, which are leading in licensing transactions [5][6] Group 4 - The active management of innovative pharmaceutical funds is recommended for investors to capture individual stock alpha, while ETFs are suitable for sharing sector beta returns [6] - The Ping An Core Advantage Fund has a nearly 40% allocation to Hong Kong stocks and has seen significant growth since its establishment [6] - The medical fund sector is expected to be the biggest winner in the first half of 2025, with notable rebounds in funds like the China Europe Medical Innovation Fund [6][7]