连续5年正收益，小众策略基金破圈！

Core Viewpoint - Niche strategy funds are gaining recognition and success in the market by avoiding mainstream competition and focusing on unique investment approaches, leading to significant performance and growth in assets under management [1][3][5]. Group 1: Performance of Niche Strategy Funds - Niche strategy funds have achieved substantial returns, with some funds maintaining positive returns for five consecutive years, such as 华夏新锦绣 and 金元顺安元启, which reported returns of 40.5% and 29.41% respectively this year [3][4]. - The 华夏新锦绣 fund, managed by 张城源, has accumulated a total return of 131.58% over five years, primarily utilizing a定增 strategy [3]. - The 金元顺安元启 fund, managed by 缪玮彬, has achieved a remarkable 262.3% return over five years, showcasing the effectiveness of the micro-cap stock strategy [4]. Group 2: Strategies Employed - Niche strategy funds employ various strategies such as定增, quantitative stock selection, micro-cap stock strategies, and tracking Smart Beta indices to uncover excess returns in overlooked market segments [3][4]. - The 国金量化多策略 fund, managed by 姚加红 and 马芳, has consistently achieved positive returns since 2019, with a return of 16.69% this year, demonstrating the broad sources of excess returns from its quantitative approach [4]. Group 3: Market Dynamics and Company Strategies - Smaller fund companies are leveraging their flexibility to quickly adapt and implement niche strategies, resulting in significant growth in assets under management, as seen with 国金基金, which grew from under 30 billion to nearly 130 billion [6]. - Larger fund companies, such as 华泰柏瑞, have also successfully launched niche products like the 红利低波ETF, which has grown from 2.58 billion to 221.4 billion in assets, benefiting from strong performance and market interest [7]. Group 4: Challenges Faced by Niche Strategy Funds - Despite their success, niche strategy funds face challenges such as the "scale trap," where initial performance pressures can lead to significant fluctuations in fund size, risking the viability of the strategy [9][10]. - The effectiveness of niche strategies often relies on specific market conditions or policies, making them vulnerable to changes in the market environment [10].