Xin Lang Ji Jin·2025-08-21 10:09Core Viewpoint - The A-share market has reached a ten-year high, drawing attention to equity funds, with over 90% of the 1,053 equity funds showing positive returns over the past decade, indicating their ability to generate excess returns in the long term [1] Group 1: Fund Performance - Among the top-performing funds, Dongwu Mobile Internet A (001323.OF) has shown exceptional performance with a total return of 367.49% since inception and an annualized return of 16.25%, ranking second among flexible allocation funds [4] - The fund's year-to-date return is 46.06%, ranking 108th among 2,308 similar funds, with a one-year return of 73.17% and a three-year return of 115.01% [4] - The fund has experienced a maximum drawdown of -34.22%, highlighting the high volatility characteristic of technology growth funds [4] Group 2: Fund Manager Insights - The fund manager believes that the recent "reciprocal tariff" policy from the U.S. has caused significant volatility in global equity markets, but historical data suggests that such declines often occur without clear signs of economic recession [11] - The manager maintains a high stock allocation, anticipating that the A-share market may stabilize due to its current valuation, policy, and performance bottoms [11] - The fund manager is optimistic about the A-share market in the second half of the year, focusing on sectors like technology, innovative pharmaceuticals, and new consumption for potential opportunities [12] Group 3: Portfolio Composition - As of June 30, 2025, the fund's top ten holdings are concentrated in the technology sector, with significant investments in AI computing and automotive intelligence [8] - The fund has increased its position in Desay SV, with a growth of 37.56%, while reducing holdings in New Yisheng and Hu Dian shares, indicating a strategic shift towards automotive intelligence [8]