开放式基金策略双周报（20250301-20250314）：债券型基金持续调整警惕“押注式”投资策略基金-2025-03-17

Market Overview - The A-share market has shown positive performance in the past two weeks, with all major indices recording gains, particularly small-cap growth stocks [5][6] - The bond market has faced pressure, with the China Bond Composite Index showing a decline, while convertible bonds performed relatively well with a 1.54% increase [6][9] Fund Market Performance - The China Fund Index increased by 1.86% over the past two weeks, with equity funds leading the performance, where stock and mixed funds recorded average gains of 3.39% and 3.06% respectively [9][11] - The best-performing thematic funds focused on non-ferrous metals, national defense, and gold stocks, while those investing in real estate and semiconductor sectors faced declines [9][11] - Active investment strategies outperformed passive strategies, indicating a favorable environment for actively managed funds [11][12] Future Investment Outlook - The report suggests a three-step approach for asset allocation: categorizing by asset class, style, and fund selection [26][28] - For equity assets, it is recommended to use the CSI 300 as a core holding and allocate to themes like TMT and consumer sectors based on market risk preferences [28] - The bond market may present buying opportunities due to anticipated monetary easing, as demand remains insufficient [28] - For precious metals, a recommended allocation of 5% to 8% in gold can enhance risk-adjusted returns [28] New Fund Market - In March, 61 new funds are in the issuance phase, with 38 being equity funds, all of which are index funds, indicating a trend towards passive investment strategies [22][23]