十月震荡“洗”掉半数翻倍基金，调整是虚惊还是见顶？

Group 1 - The core point of the article highlights a significant decline in the number of "doubling funds" in the A-share market, with over half disappearing in less than ten trading days due to high volatility and corrections in leading sectors like innovative pharmaceuticals and technology [1][2] - As of October 21, only 25 funds with a cumulative increase of over 100% remained, a sharp drop from 53 at the end of September, indicating a substantial contraction in the "doubling fund" category [2][3] - The innovative pharmaceutical index and the Hong Kong Stock Connect innovative pharmaceutical index have seen declines of 9.17% and 11.59% respectively since October, with both indices retreating over 13% from their yearly highs [2][3] Group 2 - Despite the recent corrections, funds focused on technology and pharmaceuticals still dominate, with top performers like Yongying Technology Smart A achieving a 194.96% annual return [3][4] - The number of "doubling funds" fluctuated dramatically, reaching a low of just 8 on October 14, but rebounded as the technology sector showed signs of recovery [3][4] - Recent inflows into pharmaceutical ETFs indicate continued investor interest, with significant net inflows recorded for several funds since the beginning of October [3][5] Group 3 - Analysts suggest that the recent market adjustments may provide better investment opportunities, as the corrections are seen as a release of risk rather than a long-term trend [5][6] - The shift in market style from growth to value is attributed to factors such as U.S.-China trade tensions and profit-taking by investors after substantial gains in technology stocks [6][7] - The long-term outlook for innovative pharmaceuticals remains positive, with expectations of continued growth driven by successful business development and clinical advancements [7][8]