年内下跌7%，前海开源的人工智能基金“翻车”了！

Core Viewpoint - The AI sector is experiencing a significant boom, with Nvidia's CEO asserting it as the most influential technology of the era. However, the Qianhai Kaisheng AI-themed fund has underperformed, losing 7.47% year-to-date, contrasting sharply with other AI funds that have gained over 30% [1][18][20]. Group 1: Fund Performance - As of December 17, 2025, the Qianhai Kaisheng AI-themed fund has declined by 7.47%, making it the only fund among 17 similar products with over one year of establishment to report a loss this year [18][21]. - In comparison, the CSI AI Index has risen by 69.89% year-to-date, and most AI-themed funds have seen significant gains, with 16 out of 17 funds achieving over 30% growth [4][5][20]. - The Qianhai Kaisheng AI fund has shown a cumulative return of 38.05% since its inception in May 2016, but its short-term performance has been disappointing, with various periods showing underperformance against the CSI 300 Index [22][24]. Group 2: Fund Management - The fund has been managed by two fund managers over its nine-year history, with the first manager, Qu Yang, achieving a return of 93.30% during his tenure. After his departure, the fund's performance declined significantly under the management of Wei Chun [9][24][25]. - The fund's high turnover rate of 420.79% in the first half of 2025 indicates a rapid trading strategy, which may have contributed to its poor performance [13][28]. - The fund's investment strategy has focused heavily on semiconductor stocks, which did not align with the broader market trends favoring infrastructure and computing power stocks in the AI sector [11][30][31]. Group 3: Investor Sentiment - Investors have expressed frustration over the fund's performance, questioning its alignment with the booming AI sector and expressing disappointment in its management [2][18]. - The fund's community feedback highlights a stark contrast between the expected performance in a thriving sector and the actual results, leading to a perception of it being a "fake" AI-themed fund [1][18].