【价值发现】从科技猎手到“全天候”轮动健将，财通基金金梓才靠行业轮动与AI算力布局领跑市场

Group 1 - The core viewpoint of the article highlights the rapid switching of main lines in the stock market in 2025, with technology leading the charge, particularly in the AI industry and related sectors [2] - The fund manager, Jin Zicai, has effectively captured the explosive opportunities in the overseas computing power sector by strategically investing in sub-sectors like optical modules and PCBs, aligning with the surge in overseas computing power demand [2][28] - Jin Zicai's investment framework prioritizes "Beta first," allowing for dynamic adjustments in portfolio structure while maintaining a focus on core themes [2][4] Group 2 - Jin Zicai has a decade of experience in industry rotation and has developed a unique three-tier analysis system that evaluates macroeconomic cycles, industry trends, and individual stocks [4] - The performance of the fund "Caitong Value Momentum Mixed A" is highlighted, with a return of 833.15% since inception and a year-to-date return of 53.78% [5][6] - The fund's asset allocation strategy combines both strategic long-term assessments and tactical short-term adjustments based on market momentum [7] Group 3 - The article details specific stock purchases and their performance during Jin Zicai's management, including significant gains in stocks like Xinyisheng and Shijia Photon [9][14] - The fund has shown a pattern of buying stocks at low points and benefiting from subsequent price increases, demonstrating Jin Zicai's ability to time the market effectively [12][21] - The fund's performance is attributed to precise industry allocation and stock selection strategies, with a focus on sectors poised for growth, particularly in technology manufacturing [15][16] Group 4 - The article notes that the fund has made strategic adjustments in response to market conditions, such as increasing exposure to computing power and technology manufacturing while reducing holdings in other sectors [15][28] - Jin Zicai's approach includes a flexible strategy that allows for quick shifts in investment focus based on industry trends and economic conditions, which has been a key factor in achieving excess returns [14][28] - The overall sentiment is that the AI computing power sector is experiencing a significant boom, with expectations for continued growth in demand and investment in the coming quarters [28]