Sou Hu Cai Jing·2025-10-30 16:12Core Insights - The technology sector has taken the lead in the stock market, driven by the explosive growth of AI-related industries, resulting in significant returns for actively managed equity funds that invested early in AI and computing themes [2][4] - As of October 30, the communication and electronics sectors have seen year-to-date gains of 68.75% and 52.77%, respectively, ranking second and third in index performance [2] - Over 50 funds have achieved doubling returns this year, with the Yongying Technology Select Fund leading at a total return of 219.37%, making it the only equity fund with over 200% return this year [2][4] Fund Performance - The Yongying Technology Select Fund's high returns are primarily attributed to its focus on the computing sector, particularly on stocks related to optical modules, which have significantly contributed to its performance [4][6] - The fund's net asset value nearly doubled in the third quarter, achieving a 99.74% increase, driven by substantial gains in its top holdings [4][6] Fund Manager Insights - The fund manager, Ren Jie, has made frequent adjustments to the fund's portfolio, with significant changes in the top ten holdings throughout the year [4][6] - In the third quarter, Ren Jie increased positions in top-performing stocks such as Xinyiseng, Zhongji Xuchuang, and Tianfu Communication, which saw respective increases of 188%, 177%, and 111% [4][5] - The fund's assets surged from 1.166 billion yuan at the end of the second quarter to 11.521 billion yuan by the end of the third quarter, marking a nearly ninefold increase [5][6] Market Trends - The global AI computing investment landscape is evolving, with leading model manufacturers creating new markets through collaborations, posing challenges to traditional industry giants [6] - The shift towards debt-financed investments by new cloud companies and mutual investments between chip and model manufacturers is expected to elevate global AI computing investments [6]