Xin Hua Cai Jing·2025-08-11 23:53Core Viewpoint - The A-share market has shown a significant recovery since July, with the Shanghai Composite Index surpassing 3600 points for the fourth time since 2007, 2015, and 2021, leading to a notable rebound in active equity fund performance [1] Group 1: Market Performance - The Shanghai Composite Index has reached new highs, with over 90% of active equity funds achieving positive returns this year, averaging nearly 14% [1] - As of August 6, 43 active equity funds have seen gains exceeding 100% over the past year, with 37 fund managers having 80 funds rising over 60% [1] - The market has experienced a rotation in sectors, with strong performances in dividends, artificial intelligence, banking, and innovative pharmaceuticals [1] Group 2: Sector Analysis - The AI and innovative pharmaceutical sectors have shown strong growth, with the CSI Artificial Intelligence Theme Index and CSI Innovative Pharmaceutical Industry Index rising over 60% and 40% respectively in the past year [2] - A significant portion of the active equity funds that performed well this year have focused on the medical and technology sectors, with over half of the funds that gained over 60% being healthcare-related [2] - Fund managers express confidence in the sustainability of the innovative pharmaceutical sector's growth, citing historical development opportunities and strong industry trends [2][3] Group 3: Fund Performance - There are 43 "doubling funds" in the past year, with 9 being two-year fixed open products from the Beijing Stock Exchange, which has seen a significant rise, with the BSE 50 Index increasing over 110% [4] - Despite the recovery in fund performance, rebuilding trust in active equity funds will take time due to previous volatility and losses [5] - As of August 6, 90 active equity funds have achieved an annualized return of over 15% over the past three years, with a notable concentration of successful funds from leading managers like E Fund and Huatai [5]