公募年报披露完毕 基金经理聚焦产业升级
Xin Hua Wang·2025-08-12 06:28

Core Viewpoint - The 2021 annual reports of mutual funds reveal a stable stock position, with fund managers optimistic about China's long-term industrial upgrades and technological innovation, indicating that some quality growth stocks are at historical valuation lows [1][5][6]. Group 1: Fund Holdings and Performance - As of the end of 2021, mutual funds held a total stock asset value of 7.03 trillion yuan, accounting for 25.64% of total assets, with A-share assets valued at 6.44 trillion yuan [2]. - A total of 4,757 individual stocks were held by mutual funds, with over 2,200 being heavily weighted stocks. Major heavyweights included Kweichow Moutai, CATL, and Dongfang Wealth, each held by over 1,000 funds [2]. - The "invisible heavyweights" of funds emerged with the annual report disclosures, including stocks like Bairun Co., Guotou Power, and others, with significant holdings exceeding 1 billion yuan [2][3]. Group 2: Fund Managers' Insights - Fund managers expressed a positive outlook for the market, noting that while short-term market differentiation may continue, many quality growth stocks are at historical valuation lows [5][6]. - Liu Gesong from GF Fund highlighted optimism regarding the sustainable growth of globally competitive manufacturing companies, particularly in sectors like photovoltaics and high-end equipment [3]. - Fund manager Ge Lan emphasized a long-term positive view on China's industrial upgrade and technological innovation cycles, suggesting significant changes in various industries [6]. Group 3: Market Trends and Predictions - The market is expected to experience structural trends, with different assets in varying stages of economic cycles, leading to a high probability of asset differentiation [5]. - The focus for 2022 is on carbon neutrality and stable consumption, with core assets expected to maintain or increase their leading advantages [6]. - The consumption sector is anticipated to return to normal operating conditions, with potential for valuation adjustments as negative factors diminish [6].