Zheng Quan Shi Bao·2025-07-03 01:56Core Viewpoint - Public funds demonstrated resilience in the first quarter, achieving a profit of 124.67 billion yuan, marking the best performance in five years and a significant increase of 237.64 billion yuan compared to the same period last year [1] Group 1: Fund Performance - Active equity funds collectively realized a profit of 124.67 billion yuan in Q1, the highest in five years, with 3,422 funds making profits, representing 75.41% of the total [7] - The total net asset value of public funds reached 31.86 trillion yuan by April 22, reflecting a growth of 1.02% from the end of Q1 [2] - The number of public funds increased to 12,648, a rise of 288 funds from the end of last year, setting a historical high [2] Group 2: Sector and Stock Preferences - Public funds increased their holdings in the non-ferrous metals sector by over 1.6 billion shares, highlighting its value amid tariff policies and risk disturbances [1] - The electronic industry held the largest market value among public fund holdings at 439.69 billion yuan, followed by food and beverage, power equipment, and pharmaceutical industries, each exceeding 200 billion yuan [2] - Public funds significantly increased their allocation to Hong Kong stocks, holding shares in 364 Hong Kong-listed companies, with a focus on technology, smart vehicles, and new consumption sectors [4] Group 3: ETF Market Activity - Central Huijin Asset Management Company actively increased its holdings in several ETFs, including Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, with a total increase of approximately 1.14 billion shares [1][9] - The total net asset value of ETFs reached a historical peak of 40.43 trillion yuan, with the number of ETF shares also hitting a record high of 28.02 trillion [9] Group 4: Future Outlook - Multiple fund managers expressed confidence in the resilience of the Chinese economy and the attractiveness of equity assets in the second quarter [10] - The industrial profit is expected to recover, potentially leading to a broader market rally beyond just technology stocks [10]