AI赛道量产“翻倍基”！主动权益基金大翻身，新生代来势凶猛

Core Insights - The active equity funds experienced a remarkable performance in 2025, with 94.91% of all funds generating positive returns, and 96.64% of active equity funds achieving positive returns over one year [3][4] - The emergence of "doubling funds" was a significant highlight, with 60 funds, including 51 active equity funds, achieving over 100% cumulative returns [4][5] - The strong performance of active equity funds is closely linked to the structural trends in the A-share market, particularly in technology sectors such as optical modules, PCB, cloud computing, and innovative pharmaceuticals [3][5] Fund Performance - Among active equity funds, Yongying Technology Smart Selection A led with a return of 223.14%, making it the only fund to achieve "doubling" status [5] - Other notable performers included AVIC Opportunity Navigator A with 156.48% and Hengyue Advantage Selection A with 141.96% [5] - A total of 3419 funds outperformed their benchmark returns, representing 78.26% of the active equity funds [3] Market Trends - The "doubling funds" phenomenon is characterized by a clear structural market trend, with most funds heavily invested in the "computing power" industry chain, particularly in optical modules [5][6] - The communication sector emerged as a significant winner among passive index "doubling funds," with several funds achieving returns exceeding 110% [6] New Entrants and Management - The emergence of new fund managers was notable, with the average management tenure of fund managers for the "doubling funds" being only 3.01 years, and 43.33% having less than two years of experience [7][8] - Despite the high returns associated with newer fund managers, experienced managers also delivered strong performances, indicating a diverse range of expertise contributing to the success of these funds [8] Fund Management Companies - E Fund emerged as the largest winner in 2025, managing nine "doubling funds," with E Fund Rui Xiang I achieving the highest return of 119.38% [10] - Smaller fund companies also contributed significantly to the "doubling funds," with several achieving impressive returns despite their lower rankings in total assets [11][12] Future Outlook - Analysts suggest that the technology sector will continue to be a clear investment focus in 2026, recommending strategies such as "core + satellite" and "barbell" approaches for portfolio diversification [13]