Xin Lang Zheng Quan·2025-07-09 12:33Core Insights - The public fund performance in the first half of 2025 reveals an unexpected phenomenon, with the pharmaceutical and North Exchange sectors dominating the top returns, showcasing significant gains despite market anxieties [2][9]. Group 1: Fund Performance - The top-performing fund, Huatai-PineBridge Hong Kong Advantage Selection (QDII fund), achieved a nearly 98% year-to-date increase, driven by a contrarian strategy during a challenging market environment [4]. - Changcheng Pharmaceutical Selection ranked second with an 81.45% return, led by a new fund manager who focused on innovative and commercially viable companies [5]. - CITIC Securities North Exchange Selection achieved an 80.95% return, showcasing a remarkable turnaround with a nearly doubled net value in under a year [6]. - Bank of China Hong Kong Stock Connect Pharmaceutical fund recorded a 77.14% return, employing a high-growth, high-barrier investment strategy [7]. - Yongying Pharmaceutical Innovation Selection reached a 76.76% return, utilizing a dual-manager strategy to balance performance and risk [8]. Group 2: Investment Strategies - The successful funds employed diverse strategies, including contrarian approaches, multi-asset allocation, and a focus on undervalued growth opportunities [4][6][9]. - The emphasis on pharmaceutical innovation and the valuation recovery of the North Exchange "specialized and innovative" companies were pivotal in driving the capital market's performance [9][10]. - The collective success of these funds highlights the importance of deep research, differentiated positioning, and the courage to go against market trends [9][10].