Group 1: Fund Performance Overview - Public funds' performance in the first half of the year shows that pharmaceutical-themed funds and North Exchange-themed funds performed the best, with the top two funds being Huatai-PineBridge Hong Kong Advantage Select Fund C and A shares, yielding 86.68% and 86.48% respectively [1] - Six out of the top ten active equity funds are pharmaceutical-themed, with Changcheng Pharmaceutical Industry Select Fund A and C shares achieving returns of 75.18% and 74.73%, ranking third and fourth [2] - The North Exchange-themed funds also performed well, with CITIC Securities North Exchange Select Fund A/C achieving over 80% returns, making it the highest-yielding active equity fund [2] Group 2: Investment Strategies and Market Trends - The strong performance of pharmaceutical-themed funds is attributed to the innovative drug market, focusing on companies with disruptive innovations and those with products entering commercialization [2] - The North Exchange market benefits from its thematic positioning and overall market uptrend, with high volatility providing trading opportunities [3] - Analysts note that the small-cap style, represented by the North Exchange, aligns with market trends, with sectors like artificial intelligence and robotics driving stock price increases [4] Group 3: Underperforming Funds - The Galaxy Junrong Fund I shares had the worst performance among active equity funds, with a decline of 37.89% in the first half of the year, and also showed poor long-term performance [5] - The fund manager's preference for resource and traditional consumer stocks has led to significant underperformance, with the fund's assets shrinking dramatically due to large redemptions [8] - Several funds under the Caitong brand also ranked poorly, with significant adjustments in holdings reflecting a shift away from overseas computing power stocks to domestic ones [9][10] Group 4: Fund Manager Analysis - The fund manager of Galaxy Junrong has shown a high concentration in specific sectors, which has resulted in unstable performance due to market fluctuations [12] - Caitong's fund manager has shifted focus to domestic computing power, anticipating growth in AI-related investments, but faces challenges due to reliance on imported high-end chips [10][11] - The analysis indicates that the fund manager's strategy of high concentration and frequent sector rotation has led to inconsistent annual returns [11][12]
公募“中考”:医药、北交所主题基金霸榜前十 银河君荣I份额垫底
Zhong Guo Jing Ying Bao·2025-07-04 19:12