AI多因子+专精特新小巨人：中加基金的权益“双向奔赴”之路

Core Viewpoint - The Chinese stock market is witnessing a resurgence in investor risk appetite, with a significant increase in equity fund issuance, reflecting a growing interest in equity assets as the Shanghai Composite Index stabilizes above 3600 points [2] Fund Issuance and Market Trends - In the first seven months of 2025, the total issuance of equity funds reached 223.607 billion units, marking a year-on-year increase of 211.24% [2] - Since the "9.24" market event, the issuance of equity funds has significantly increased, dominating the market issuance rhythm [4] Performance of Bank-affiliated Funds - Bank-affiliated public funds are facing a test of their "comprehensive capabilities" in adapting to a changing market environment, particularly in becoming multi-asset managers that meet diverse investor needs [4] - The Guotai Junan Fund's excess return rankings for the first half of the year revealed that several bank-affiliated fund products achieved notable excess returns, with the Zhongjia Specialized and New Quantitative Stock Selection A fund ranking in the top 2% of its category with a return of 35.55% [4][6] Focus on Specialized and New Enterprises - The Zhongjia Specialized and New Quantitative Stock Selection A fund focuses on "specialized and new" enterprises, investing over 80% of its assets in listed companies recognized as "little giants" by the Ministry of Industry and Information Technology [7] - The average market capitalization of specialized and new enterprises is significantly lower than that of the overall A-share market, making them attractive in the current economic climate [8] Growth Potential and Market Dynamics - The number of specialized and new enterprises has expanded to 1,349, accounting for 24.89% of all A-share listed companies, creating favorable conditions for quantitative strategies [12] - The specialized and new sector is expected to continue exhibiting significant beta, suggesting potential for further growth if market trends are confirmed [15] Quantitative Strategy and Performance - The Zhongjia fund employs a self-developed multi-factor model that integrates fundamental, financial, and price-volume factors, emphasizing risk control and optimizing product drawdown [20] - The fund's maximum drawdown since inception is only 12.77%, placing it in the top 30% among all mixed equity funds, demonstrating its ability to maintain stability while achieving high returns [23] Long-term Investment Philosophy - Zhongjia Fund emphasizes a long-term investment philosophy, integrating this approach into its "fixed income plus" and equity product lines, while focusing on technology and innovation sectors [25][26] - The fund has established a strong research team with an average of over 10 years of experience, aiming to enhance investor experience and share in the long-term growth of technology enterprises [26]