信澳新能源产业A：十年回报356%，近一年收益72%，二季度重仓华勤技术、佰维存储

Core Insights - 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 [1] Fund Performance - The top-performing fund, Xinao New Energy Industry A, has a cumulative return of 368.95% since its inception, with an annualized return of 16.59%, ranking second among ordinary equity funds [3][9] - In 2025, the fund achieved a return of 21.03%, while its one-year return was 72.16%, ranking 114th among 945 similar funds [3] - The fund has shown strong recovery capabilities, with a return of 11.57% in 2024 and 21.03% in 2025, despite experiencing declines of -29.29% in 2022 and -12.71% in 2023 [6][14] Historical Returns - The fund's historical performance includes a remarkable 94.11% return in 2019, followed by 59.88% in 2020 and 45.37% in 2021, showcasing its effective positioning in the new energy and technology sectors [6][8] - The fund's performance against benchmarks shows it significantly outperformed the CSI 300 index in several years, particularly in 2019 and 2020 [8] Fund Management - The current fund manager, Feng Mingyuan, has managed the fund since October 2016, achieving a total return of 322.48% and an annualized return of 17.10% during his tenure [9] - The fund has undergone management changes, with previous managers laying a solid foundation for its subsequent growth [9] Portfolio Composition - As of June 30, 2025, the fund's top ten holdings are concentrated in electronics, new energy, and automotive parts, with significant investments in companies like Huakin Technology and Huahong Semiconductor [11][12] - The fund manager has increased positions in Jianghuai Automobile and Jingchen Technology by over 25%, indicating a positive outlook on semiconductor and automotive electronics sectors [11] Investment Strategy - The fund focuses on opportunities in electronics, machinery, new energy, computers, and automotive parts, aiming to capitalize on the rise of China's emerging manufacturing sector [13][14] - The fund manager emphasizes the importance of understanding policy directions and industry trends as key factors in achieving long-term excess returns [14]