风险偏好各异 公募投顾调仓泾渭分明

Group 1 - Multiple public fund institutions have initiated a new round of portfolio adjustments, with some increasing positions in growth sectors like technology and pharmaceuticals, while others adopt a more conservative strategy by slightly reducing equity positions and increasing fixed-income assets [1][2] - The market environment is prompting some institutions to favor growth styles, with specific funds focusing on AI computing and strong pharmaceutical themes being favored in recent adjustments [2][3] - New consumption sectors are also gaining attention, with several funds increasing their allocations to consumer-driven investments [3] Group 2 - Some portfolios have adopted a defensive approach, reducing equity and gold positions while increasing bond allocations due to heightened market volatility [3] - The "launch" plans of various portfolios indicate a more flexible investment strategy, with frequent launches seen as a positive market signal [4] - The current market is characterized by a desire for certainty, with expectations for a potential cross-year rally once uncertainties are resolved [4][5] Group 3 - The long-term investment logic for the technology sector remains solid, despite short-term fluctuations and high trading congestion [5][6] - The market is undergoing structural optimization, with many low-valued sectors indicating limited overall downside potential [6] - Recommendations include focusing on sectors with high valuation recovery potential and gradually increasing allocations to technology investments with strong long-term fundamentals [6]