消费行业“含科量”扩围 部分消费基金曲线“救基”

Core Viewpoint - The performance of consumer-themed funds has improved after expanding and updating the definition of the consumer industry, despite the recent decline in the stock prices of heavily weighted consumer stocks [1][2]. Group 1: Consumer Fund Performance - Consumer-themed funds have shown a divergence in performance, with some actively managed equity consumer funds and passive consumer ETFs performing well, while traditional consumer stocks have faced significant downward pressure [1][2]. - The performance difference among consumer ETFs is largely attributed to how fund managers and indices define "consumption," with those including technology stocks seeing better returns [2][3]. Group 2: Inclusion of Technology Stocks - The inclusion of technology stocks in consumer industry indices has helped mitigate the impact of declines in traditional consumer stocks on related ETFs [3]. - Some consumer funds have strategically broadened their investment scope to include sectors like technology, semiconductors, and innovative pharmaceuticals, which has positively influenced their performance [4][5]. Group 3: Market Trends and Strategies - The current market consensus is shifting towards technology-driven investments, particularly in artificial intelligence, which is becoming a dominant theme in the investment landscape [6][7]. - Fund managers are increasingly focusing on technology characteristics while downplaying traditional consumer sectors, as consumer stocks are currently experiencing valuation compression [6][7]. Group 4: Fund Examples and Strategies - Specific funds, such as the Guorong Huagang Deep Consumption Fund, have achieved significant returns (58.56%) by expanding their definition of consumption to include high-growth sectors like AI and semiconductors [4]. - Other funds, like the Southern Consumption Upgrade Fund and Great Wall Consumption Value Fund, have also enhanced their performance by incorporating hard technology sectors into their portfolios [5].