Core Viewpoint - The article highlights the impressive performance of the E Fund Kairong Mixed Fund (006533), managed by Liu Jianwei, which has achieved an annualized return exceeding 20% and significantly outperformed the CSI 300 Index over various time frames [1][5][10]. Fund Performance - As of Q2 2025, the total management scale of Liu Jianwei's funds reached 9.41 billion yuan [5]. - Liu Jianwei's funds have shown outstanding performance over the past six months, one year, two years, and three years, with a total return of 165.8%, outperforming the CSI 300 Index by 158.2 percentage points during the same period [5][6]. Investment Strategy - Liu Jianwei focuses on a growth style, with a significant portion of the fund's holdings in the electronics, communication, and power equipment sectors, which together account for 58.5% of the portfolio [5][6]. - The fund's stock allocation was approximately 82% at the end of 2024, with key holdings in leading companies within the electronics and communication sectors [5][6][8]. Sector Allocation - The fund's sector allocation as of the latest report is as follows: - Electronics: 30.57% - Communication: 15.21% - Power Equipment: 12.72% - Computer: 6.92% - Automotive: 3.98% - Non-ferrous Metals: 2.75% [6]. Market Insight - Liu Jianwei emphasizes the importance of understanding industry dynamics and focuses on the "1-10" growth phase of industries, where companies can benefit from rapid demand growth [8][9]. - He has successfully capitalized on opportunities in the new energy sector, particularly in lithium and cobalt resources, which saw significant price increases due to rising demand [9]. Risk Management - Liu Jianwei adopts a conservative approach to risk management, prioritizing capital preservation and controlling drawdowns, which is crucial in the high-volatility growth stock environment [11][12]. - His investment philosophy includes selecting fundamentally sound companies and ensuring that entry and exit points are aligned with reasonable valuations [14][15]. Recent Developments - In the second half of 2023, Liu Jianwei identified the potential for growth in the artificial intelligence sector and began increasing allocations to related companies, resulting in strong performance for the fund in 2024 [14][15]. - The fund's exposure to the electronics and communication sectors increased significantly from June 2023 to the end of 2023, reflecting a strategic shift in response to market conditions [14].
在成长与风控间寻找确定性：一位“非典型成长派”基金经理的投资智慧
Sou Hu Cai Jing·2025-08-01 11:30