2025年基金二季报划重点！泓德基金季宇：关注竞争优势清晰、符合时代趋势的新消费企业

Group 1 - The core viewpoint of the articles highlights the positive performance of the Hongde Fengze Mixed Fund (LOF) in Q2 2025, with a net value growth rate of 4.61% compared to a benchmark return of 1.25% [1] - The market experienced significant adjustments due to the U.S. tariffs on China, but gradually recovered as negotiations progressed, with the Wind All A Index rising by 3.86% in Q2 [3] - The fund manager, Ji Yu, emphasizes the focus on leading companies in the new consumption sector, which have shown clear competitive advantages and reasonable valuations, while also being cautious of potential adjustments in lower-tier stocks [3][4] Group 2 - The consumption sector has regained market attention this year, with significant valuation recovery for excellent companies, indicating a positive outlook for long-term investment opportunities in Chinese consumer enterprises [4] - The fund aims to increase holdings in new consumption companies with clear competitive advantages during market adjustments, while also monitoring opportunities in traditional quality consumer stocks [4]