部分顶流基金经理光环褪去

Core Viewpoint - After three years of underperforming the market, actively managed equity funds have experienced a significant rebound this year [1][5]. Group 1: Performance of Active Equity Funds - The "Wande Equity Mixed Fund Index," representing actively managed equity funds, showed a performance of -21.03% in 2022, -13.52% in 2023, and 3.45% in 2024, all underperforming the Shanghai Composite Index [5]. - As of August 6, 2024, the Wande Equity Mixed Fund Index has increased by 16.67%, outperforming the Shanghai Composite Index, which rose by 8.42% [5][6]. - Year-to-date, actively managed funds have outperformed the Shanghai Composite Index by over 8 percentage points and the CSI 300 Index by over 12 percentage points [6]. Group 2: Performance of Star Fund Managers - A significant number of star fund managers have shown varied performance this year, with some excelling, particularly in the healthcare sector, while others have struggled [2][3]. - Among the top-performing funds, the "China Europe Medical Innovation" fund managed by Ge Lan has achieved a return of 68.97%, while the "China Europe Medical Health" fund has returned 25.36% [10][11]. - Conversely, some star fund managers, such as Zheng Chengran and Liu Yanchun, have seen their funds underperform, primarily due to heavy investments in sectors like liquor and new energy [16]. Group 3: Sector Performance and Investment Strategies - The healthcare sector has seen a resurgence, with funds heavily invested in innovative drugs, especially those with significant exposure to Hong Kong stocks, outperforming others [12][15]. - Funds managed by star managers focusing on growth sectors, such as technology and new energy, have also performed well, with notable returns from funds like "Xingquan Social Value" and "Xingquan Harmony" [13][14]. - The performance disparity among star fund managers is attributed to their investment strategies not adapting to the rapidly changing market conditions, particularly in sectors like AI and innovative drugs [16].