大成基金地铁营销恒生科技ETF，却意外戳中了亏损基民的敏感神经

Core Viewpoint - The advertisement for "Dacheng Hang Seng Technology ETF" has sparked widespread discussion on social media, highlighting its market position as the largest in Shenzhen, but has also faced significant criticism from investors regarding its performance and marketing strategies [1][3]. Group 1: Fund Performance and Scale - Dacheng Hang Seng Technology ETF is a passive index product that tracks the Hang Seng Technology Index, making it difficult for the fund to alter its performance through active stock selection [5]. - As of mid-December, Dacheng Hang Seng Technology ETF has a scale of 186.31 billion yuan, leading the Shenzhen market, significantly ahead of competitors like Bosera and Harvest [5]. - The fund's scale has doubled from 61.96 billion yuan at the end of Q1 to 155.76 billion yuan by the end of Q3 [5]. - Despite its large scale, the fund has experienced a loss of over 25% since inception, with a return of -25.87%, and recent performance has also been poor, with returns of -6.50% over the last three months [7][8]. Group 2: Marketing vs Investor Interests - The marketing strategy of Dacheng Fund focuses on increasing scale and liquidity, as management fees are based on asset size, which stabilizes income and attracts more investments [9]. - The aggressive advertising approach, especially during periods of poor performance, has led to investor dissatisfaction, as it contrasts with the regulatory emphasis on prioritizing investor interests [11]. - The contradiction between the fund's marketing efforts and the actual investment experience raises concerns about the long-term trust investors may have in the fund [13][14]. Group 3: Long-term Investment Value - Despite recent declines, many industry experts believe the long-term investment logic of the Hang Seng Technology Index remains intact, as it includes significant global tech assets not listed in A-shares [12]. - The current valuation of the Hang Seng Index and Hang Seng Technology Index is significantly lower than its peak in 2021, suggesting potential for recovery [12]. - Factors contributing to recent declines include profit-taking, geopolitical tensions, and market volatility, but the underlying technology sector continues to show promise [12].