马年开局，全球投资实力派周寒颖新基发行

Core Viewpoint - The A-share market has experienced significant volatility since 2026, with the Shanghai Composite Index fluctuating around 4100 points, while over 80% of Shenwan's primary industries have seen annual gains, indicating a continued profit-making effect despite increased industry differentiation and the difficulty of identifying a single investment theme [1][5]. Group 1: Fund Launch and Manager Profile - In 2026, the company launched the new fund, Invesco Great Wall Hengrui Select Mixed Fund (code: 026376), managed by Zhou Hanying, who possesses extensive global investment capabilities and focuses on cost-effectiveness in investment [1][5]. - Zhou Hanying emphasizes a multi-dimensional comparison across individual stocks, industries, and sectors for balanced allocation, and her managed products have won awards, including the "Five-Year Open-End Stock Continuous Excellence Golden Bull Fund" in 2025 [1][5]. Group 2: Investment Strategy and Performance - Zhou Hanying's investment philosophy is evident in the changes in the holdings of her representative product, Invesco Great Wall Growth Star Fund, which has shifted focus from new and old energy sectors to home appliances and electronics, and then to non-ferrous metals, adapting to economic growth and industry upgrades [2][6]. - The fund's diversification strategy is highlighted by a maximum industry weight of 16% and a top ten stock concentration of 48.30%, significantly lower than the market average, indicating a focus on risk optimization and stability in volatile markets [2][6]. Group 3: Current Market Focus and Opportunities - Zhou Hanying identifies three key investment areas: non-ferrous metals, high-end manufacturing, and consumer services, suggesting that the current market volatility may provide opportunities for investment in these sectors [3][8]. - In the non-ferrous metals sector, she notes a transformation in upstream metal pricing frameworks and the emergence of new demands driven by global electrification trends, positioning copper and aluminum as strategic energy resources [8]. - The high-end manufacturing focus includes companies capable of achieving breakthroughs in the domestic supply chain, covering sectors such as AI, power equipment, and military technology [8]. Group 4: Market Timing and Fund Flexibility - Zhou Hanying believes that the current market correction may serve as a strategic entry point for investments, particularly as historical data suggests that the period from December to April is effective for fundamental pricing [9]. - The Invesco Great Wall Hengrui Select Mixed Fund is designed to maintain a stock position of 60% to 95%, with up to 50% of its stock assets allocated to Hong Kong stocks, allowing for flexible investment opportunities across both A-share and Hong Kong markets [9].