近3年主动权益基金的投研较量 大小公募机构各展所长

Core Insights - The A-share market has shifted from a downward trend in 2023 to a structural market deepening by 2025, providing opportunities for active equity funds to demonstrate their research capabilities [1] - As of September 30, 22 fund companies achieved an arithmetic average return of over 30% in active stock investment over the past three years, highlighting the ability of active equity funds to navigate a differentiated market [1] - Smaller public funds have outperformed larger institutions by leveraging flexible strategies and focused sectors, while larger institutions have overcome scale limitations through systematic research capabilities [1] Fund Performance - The active equity fund landscape has evolved from single-point breakthroughs to a diversified product system, catering to varied investor needs with both long-term stability and short-term flexibility [2] - Notably, 26 active equity products from Nuoan Fund have doubled their returns since inception, with 15 products achieving an annualized return exceeding 10% [2] - The success of these funds is attributed to accurate industry trend predictions and proactive investment strategies, exemplified by Nuoan Fund's focus on AI and semiconductor sectors [2] Investment Strategies - Smaller institutions have achieved success by focusing on niche technology sectors, allowing for agile responses to industry changes [3] - Larger institutions maintain sensitivity to industry trends through comprehensive research systems, avoiding performance dilution from scale while achieving long-term stable returns [3]