科技基金强势反弹！马丽娜掌舵工银新兴制造混合：科技成长投资的“精准捕手”

Core Viewpoint - The technology sector has become the core engine of structural market trends, with significant performance in A-share markets, particularly in electronic, communication, and computer indices, which have outperformed the broader market since 2025 [1] Group 1: Fund Performance - The technology-themed funds have shown strong resilience, even during short-term fluctuations caused by external factors, indicating potential for recovery in the future [1] - The ICBC Credit Suisse Emerging Manufacturing Mixed Fund has achieved impressive performance, ranking in the top five of its category over the past five years, with a return of 171.69% since its inception on August 20, 2020, significantly exceeding the benchmark return of 38.98% [2][3] - As of November 30, the fund's one-year return was 61.91%, far surpassing the benchmark return of 25.58% [3] Group 2: Fund Structure and Strategy - The fund has a concentrated holding structure, with 98.46% of its stock investment value in the electronics sector, particularly in semiconductors, reflecting the manager's strong conviction in this area [4] - The number of holdings has been optimized from 161 in 2023 to 130 in mid-2025, indicating a strategy of focusing on core assets while managing risk through diversification [4] - The fund's top ten holdings account for over 60% of its net value, demonstrating a balance between concentration and flexibility in managing investments [4] Group 3: Risk Management - The fund has shown strong risk management capabilities, with a maximum drawdown of 17.18% since the current manager took over, outperforming the average of its peers [5] Group 4: Manager Expertise and Investment Philosophy - The fund's success is attributed to the expertise of its manager, Marina, who has a decade of experience in the securities industry and a strong background in technology research [6] - Marina's investment philosophy focuses on understanding industry trends and identifying companies with long-term growth potential and competitive advantages [6] - The investment strategy combines top-down and bottom-up approaches, prioritizing sectors with significant growth potential, such as semiconductors and AI, while selecting high-quality companies for investment [7] Group 5: Future Outlook - The manager anticipates a positive outlook for the semiconductor industry in 2025, driven by increasing demand for AI-related chips, which presents significant investment opportunities [7] - A new fund, ICBC Technology Select Mixed Fund, will be launched in January 2026, focusing on high-growth companies in the AI application sector, leveraging the firm's strong research capabilities [8]