Xin Lang Cai Jing·2025-08-21 10:35Core Insights - The A-share market has reached a ten-year high, drawing attention to equity funds, particularly the Huashang New Trend Preferred Fund, which has achieved a total return of 456.21% over the past decade [1] - The fund, managed by Tong Li since its inception on May 14, 2015, has demonstrated strong long-term investment value with a total return of 435.29% and an annualized return of 17.73% as of August 2025, ranking second among peers [1] - The fund has shown resilience in various market conditions, achieving returns of 77.42% and 69.60% in 2020 and 2019 respectively, and a positive return of 13.60% in 2022 despite overall market declines [1] Fund Management and Performance - The fund has been managed by three different managers, with the current manager, Tong Li, achieving a total return of 14.30%, surpassing the benchmark by 8.38% since taking over [1] - Previous manager Zhou Haidong managed the fund from May 2015 to March 2025, achieving a total return of 368.34% [1] Portfolio Composition - As of June 30, 2025, the fund's top ten holdings are concentrated in the mining, military, and technology sectors, with significant investments in Zijin Mining (31.2 million), AVIC Shenyang Aircraft (15.2 million), and Industrial Bank (11.9 million) [1] Market Outlook - The fund manager anticipates a continuation of growth style in the third quarter, influenced by the ongoing subdued state of consumer sectors and the strengthening narrative around AI due to improved modeling capabilities [1] - The fund will maintain its focus on two main investment directions: growth-oriented technology sectors with low market expectations and stable, low-valuation industries such as wind energy and non-ferrous metals [1] Investment Strategy - Huashang New Trend Preferred Fund has successfully capitalized on opportunities through flexible asset allocation and sector rotation, achieving significant long-term excess returns [1] - The fund's success is attributed to the manager's excellent stock-picking ability and the strategic positioning of Huashang Asset Management [1]