公募基金周报（20250421-20250425）-20250428

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The market trading sentiment slightly recovered this week, with small - cap stocks outperforming. The A - share index is expected to maintain a wide - range volatile trend with support at the bottom and resistance at the top. It is recommended to maintain a barbell allocation of "dividend + growth" and pay attention to the phased investment opportunities in the pharmaceutical sector [10][11][16] 3. Summary by Related Catalogs 3.1 This Week's Market Review 3.1.1 Industry Index - The broad - market index fluctuated narrowly this week, with small - cap stocks performing strongly. The average daily trading volume of stocks increased by 3.43% compared to last week. Overseas, the Nasdaq rebounded, and the price of 10 - year US Treasury bonds rose. COMEX gold first soared and then corrected. The 30 - year Treasury bond futures remained in a high - level volatile pattern. The basis of four types of stock index futures contracts increased overall [10] - Sectors such as comprehensive finance, automobiles, and power equipment and new energy led the gains. The trading volume of the comprehensive finance and communication sectors increased significantly, while the trading activity of the agriculture, forestry, animal husbandry, and fishery, consumer services, and food and beverage sectors decreased significantly. The pharmaceutical sector, which was heavily added by active equity funds, rose by 1.24% [11] 3.1.2 Market Style - The growth style rebounded slightly, while the value style was relatively weak. The cycle style performed the best, with a weekly increase of 2.44%. The small - cap style was strong, with the CSI 2000 index having the highest increase [15][16] - The Shanghai Composite Index is expected to weakly rebound and oscillate up to around 3300 points in the short term, followed by a slight adjustment, but the downside space is limited [16] 3.2 Active Equity Funds 3.2.1 Top - Performing Funds in Different Theme Tracks This Week - Funds are classified into single - track and double - track funds based on their positions in six sectors: TMT, finance and real estate, consumption, medicine, manufacturing, and cycle [19] 3.2.2 Top - Performing Funds in Different Strategy Categories - Funds are divided into types such as deep - value, high - growth, high - quality, quality - growth, quality - value, GARP, and balanced - cost - performance funds, and the top - performing funds in each type this week are listed [20] 3.3 Index - Enhanced Funds 3.3.1 This Week's Excess Return Distribution of Index - Enhanced Funds - The average and median excess returns of CSI 300 index - enhanced funds were 0.48% and 0.41% respectively; for CSI 500 index - enhanced funds, they were 0.54% and 0.54%; for CSI 1000 index - enhanced funds, they were 0.62% and 0.69%; for ChiNext index - enhanced funds, they were 0.58% and 0.74%; for Science and Technology Innovation and Entrepreneurship 50 index - enhanced funds, they were 0.16% and 0.07%. The average and median absolute returns of neutral hedge funds were 0.26% and 0.18%, and for quantitative long - only funds, they were 1.67% and 1.71% [24] 3.4 This Issue's Bond Fund Selections - Medium - and long - term bond funds and short - term bond funds are selected based on indicators such as fund size, return - risk metrics, and rolling returns and maximum drawdowns over the past three years [37]