华商基金艾定飞：控制回撤、追求稳定收益是投资中最重要的事情

Core Viewpoint - Quantitative investment is becoming an important path for achieving long-term stable returns in a volatile capital market, leveraging its disciplined and systematic advantages [1][9]. Group 1: Company Overview - Dr. Ai Dingfei, Assistant General Manager of the Quantitative Investment Department at Huashang Fund, has over 11 years of experience in the securities industry, including 7.1 years in securities investment [3][11]. - The investment framework of Dr. Ai is centered around a quantitative multi-factor stock selection model, enhanced by deep learning algorithms for portfolio optimization [3][11]. - Huashang Fund aims to provide better investment options by focusing on controlling drawdowns and pursuing stable returns [1][9]. Group 2: Market Analysis - In the fourth quarter of 2025, the market is expected to enter a trend of oscillating upward due to high risk appetite, supported by ample liquidity and the backdrop of the Federal Reserve's interest rate cuts [3][11]. - The growth direction of the large-cap market is anticipated to perform prominently, benefiting from the elevated risk appetite [3][11]. Group 3: Fund Strategies - The Huashang Electronic Industry Quantitative Stock Fund focuses on growth, R&D investment, and momentum, with major allocations in semiconductor equipment, AI computing power, and storage for Q4 2025 [4][12]. - The Huashang Computer Industry Quantitative Stock Fund emphasizes growth, valuation, and reversal, primarily investing in domestic computing and AI application sectors for Q4 2025 [4][12]. - The Huashang Large Cap Quantitative Selected Flexible Allocation Mixed Fund targets profitability, high-frequency volume-price, and reversal, with allocations in non-ferrous metals, chemicals, banks, and non-bank financials for Q4 2025 [4][12]. - The Huashang Shanghai Stock Exchange Science and Technology Innovation Board 100 Index Enhanced Fund focuses on growth, valuation, and high-frequency volume-price, with major allocations in electronics, pharmaceuticals, and new energy for Q4 2025 [5][12]. - The Huashang 300 Smart Selection Mixed Fund emphasizes reversal, high-frequency volume-price, and valuation, with allocations in non-ferrous metals, banks, and electronics for Q4 2025 [5][12]. - The Huashang CSI 300 Index Enhanced Fund focuses on reversal, valuation, and high-frequency volume-price, with allocations in non-ferrous metals, chemicals, and transportation for Q4 2025 [5][13].