消费主题基金业绩分化！传统赛道陷入低迷，“掘新”选手表现亮眼

Group 1 - Some consumer-themed funds have performed poorly this year, with notable negative returns, such as Guorong Rongxin Consumer Select C and A, which reported returns of -15.06% and -14.97% respectively as of August 12 [1] - The top holdings of these underperforming funds included major liquor stocks like Wuliangye and Moutai, indicating a reliance on traditional consumer sectors [1] - In contrast, several consumer-themed funds have achieved impressive returns, such as Haifutong Consumer Select A, which reported a return of 60.48% year-to-date [3] Group 2 - The performance disparity among consumer-themed funds highlights the strong demand for new consumption sectors, while traditional consumption remains sluggish without clear signs of recovery [4] - Fund managers have noted a shift in capital towards new consumption, particularly in the Hong Kong market, which focuses on service and experiential consumption, aligning with the preferences of the "Z generation" [4] - The A-share market primarily consists of traditional essential consumption stocks like liquor and white goods, while the Hong Kong market's new consumption sector has a non-essential consumption ratio of 68.6%, indicating a more balanced approach [4]