百嘉百盛混合: 百嘉百盛混合型证券投资基金2025年第2季度报告

Core Viewpoint - The report highlights the performance and investment strategy of the Baijia Baisheng Mixed Securities Investment Fund for the second quarter of 2025, emphasizing its proactive asset allocation and focus on high-quality listed companies to achieve returns exceeding the benchmark [1][2]. Fund Overview - The fund is a mixed-type fund with a total share of 57,782,103.18 units at the end of the reporting period [1]. - The fund aims to control investment risks while actively selecting investment targets with competitive advantages or potential [1]. - The performance benchmark is set as 50% of the Shanghai and Shenzhen 300 Index return and 2 times the Hang Seng Index return [1]. Financial Indicators and Fund Performance - The fund's net value growth rate for the past three months was 3.63%, while the benchmark return was 2.28% [3]. - Over the past six months, the fund achieved a growth rate of 17.68%, significantly outperforming the benchmark return of 5.32% [3]. - The fund's one-year performance showed a net value growth of 40.83%, compared to the benchmark's 17.42% [3]. Investment Strategy and Operations Analysis - The fund maintained a relatively aggressive stock position during the quarter, responding to market fluctuations caused by external factors such as U.S. tariffs [2]. - The investment team focused on sectors like AI and robotics, which aligned with market structural opportunities, yielding expected returns [2][3]. - Consumer sector performance varied, with new consumption companies performing well despite challenges in traditional sectors like home appliances and food and beverage [2]. Market Outlook - The macroeconomic environment is expected to experience fluctuations due to export tariffs, but stable growth is anticipated supported by fiscal and monetary policies [3]. - The fund will focus on sectors benefiting from technological innovation and consumption recovery, aiming to optimize its portfolio dynamically [3][4]. Investment Composition - As of the reporting period, the fund's stock holdings accounted for 85.67% of its total assets, with significant investments in manufacturing and information technology sectors [5]. - The fund has not held any bonds or asset-backed securities during the reporting period [5]. Key Investment Opportunities - The fund is looking to capitalize on opportunities in the consumer electronics sector, particularly those benefiting from government policies like "old-for-new" replacement [4]. - The military industry is also highlighted as a potential area for investment, especially with recent developments in military technology [4]. Fund Management and Compliance - The fund management has adhered to legal regulations and internal policies, ensuring compliance and fair trading practices throughout the reporting period [2]. - No significant issues regarding unfair trading or conflicts of interest were reported during the quarter [2].