Zhong Guo Ji Jin Bao·2025-10-23 00:37Core Insights - The report reveals that the China Europe Digital Economy Fund has experienced significant growth, with its scale increasing from 1.527 billion to 13.021 billion yuan in the third quarter, marking an almost eightfold increase in a single quarter [1][7] - The fund manager, Feng Ludan, emphasizes that while there are substantial investment opportunities in AI technology, there are also risks associated with high valuations that demand stringent performance expectations [1][9] Fund Performance and Strategy - The fund maintains a high equity position, with over 88% in stocks, and focuses on five core investment areas: AI infrastructure, intelligent robotics and driving, AI applications, edge AI, and the domestic AI supply chain [3] - The top three holdings are Xinyi Technology, Alibaba-W, and Zhongji Xuchuang, each with a market value exceeding 1.1 billion yuan [4] - The fund has seen significant increases in holdings for companies like Huydian Technology and Tianfu Communication, with increases of 203.31% and 275.26% respectively [5][6] Market Trends and Valuation - The fund's net asset value has surged by 140.86% in the first three quarters, ranking it second among actively managed equity funds [7] - The AI sector is experiencing a wave of commercialization, with leading companies accelerating their efforts, which is reshaping traditional internet sectors [9][10] - Feng Ludan notes that the overall valuation of the AI sector is no longer at a low point, with some stocks reflecting optimistic growth expectations for the coming years [9]