中小盘指数创阶段新高相关主题基金限购或调仓

Core Viewpoint - The recent surge in small and micro-cap indices has led to significant gains, prompting many funds to implement purchase limits to protect investors and manage stock price impacts [1][2][3] Group 1: Performance of Small and Micro-Cap Indices - Small and micro-cap indices, such as the CSI 2000 and Guozheng 2000, have outperformed major indices, with increases of 34.04% and 29.29% respectively since April 7 [2] - The "micro-cap stock" index has surged over 56%, indicating a strong upward trend in small-cap stocks [2] - Funds focused on small-cap stocks have shown impressive year-to-date performance, with some funds like Nuoan Multi-Strategy Fund rising over 60% [2] Group 2: Fund Purchase Limits - Due to limited capacity for small-cap stocks to absorb large amounts of capital, several funds have implemented purchase limits to prevent significant price impacts [2][3] - Notable funds such as Nuoan Multi-Strategy and CITIC Prudential Multi-Strategy have announced multiple purchase limit measures in recent months [2][3] Group 3: Strategy Adjustments by Funds - In response to increasing fund sizes, some fund managers are reducing their holdings in small-cap stocks and reallocating funds to larger-cap stocks [3][4] - For instance, CITIC Prudential Multi-Strategy Fund's assets grew from under 700 million to 1.199 billion, leading to a decrease in individual stock weightings [3] - Other funds, like the招商量化精选, have shifted their focus from small-cap stocks to larger companies, reflecting a broader strategy change [4] Group 4: Risks and Concerns - Fund managers have expressed concerns about liquidity risks associated with micro-cap stocks, emphasizing the need for caution [5][6] - The reliance on capital inflows and momentum effects in micro-cap stocks has raised alarms about potential rapid adjustments and tail risks [6]