Core Viewpoint - The report highlights the performance and strategic focus of the FuGuo Precision Medical Flexible Allocation Mixed Fund A (005176), emphasizing its strong returns and investment strategy in the healthcare sector [2][3]. Fund Performance - In Q2 2025, the fund reported a profit of 717 million yuan, with a weighted average profit per fund share of 0.5567 yuan [2]. - The fund's net asset value (NAV) growth rate for the reporting period was 20.92%, and as of the end of Q2, the fund size was 3.645 billion yuan [2][14]. - As of July 21, the fund's unit NAV was 3.562 yuan [2]. - Over the past three months, the fund's NAV growth rate was 27.02%, ranking 56 out of 138 comparable funds [3]. - Over the past six months, the NAV growth rate was 60.34%, ranking 30 out of 138 [3]. - Over the past year, the NAV growth rate was 60.20%, ranking 26 out of 133 [3]. - Over the past three years, the NAV growth rate was 36.78%, ranking 16 out of 107 [3]. Risk and Return Metrics - The fund's Sharpe ratio over the past three years was 0.4282, ranking 18 out of 105 comparable funds [7]. - The maximum drawdown over the past three years was 32.51%, ranking 92 out of 106 comparable funds [10]. - The highest drawdown in a single quarter occurred in Q1 2021, at 27.85% [10]. Investment Strategy - The fund manager indicated potential focus areas for investment, including differentiated targets in cutting-edge fields such as ADC, bispecific antibodies, and GLP-1, with an emphasis on globally competitive companies [2]. - The investment approach is centered on "global capability + clinical value" [2]. - The fund is particularly interested in pharmaceutical companies with potential for license-out opportunities and may consider increasing holdings in innovative drugs and medical device companies that benefit from policy support [2]. Portfolio Composition - The fund has a high concentration of holdings, with the top ten stocks consistently representing over 60% of the portfolio for nearly two years [17]. - As of Q2 2025, the top ten holdings included companies such as Huatai Medical, Haishi Ke, and Bai Li Tianheng [17]. - The average stock position over the past three years was 90.82%, compared to a peer average of 86.95% [13].
富国精准医疗灵活配置混合A:2025年第二季度利润7.17亿元 净值增长率20.92%
Sou Hu Cai Jing·2025-07-22 03:29