Fund Manager Profile - Fund manager Qu Shaojie has extensive experience in overseas market investments, managing a total of 1.154 billion CNY across three funds as of Q1 2025[1] - Qu's investment philosophy focuses on long-term holdings of fundamentally strong companies with matching valuations and earnings[1] Fund Performance - The Changcheng Hong Kong Stock Connect Value Selection Multi-Strategy A fund has achieved cumulative returns of 19.39%, 48.59%, and 51.88% over the past three, two, and one years, respectively, ranking in the top 6.8%, 1%, and 1.7% of its peers[2] - Year-to-date return for 2025 is 33.52%, placing it in the top 1.5% of its category[2] Market Resilience - During the market turbulence from October 2022 to June 2023, the fund returned 11.14%, significantly outperforming the peer average of -1.44%[2] - From February 2024 to September 2024, the fund achieved a return of 16.89%, compared to the peer average of 3.19%[2] Portfolio Composition - The fund maintains a high concentration in its top three and five sectors, averaging 73.90% and 85.69% respectively since Qu's tenure began[2] - As of Q1 2025, the fund's stock allocation reached 93.11%, an increase of 4.58% from Q4 2024[2] Stock Selection - Notable heavy positions include Xiaomi Group (9.66%) and Pop Mart (11.70%), reflecting Qu's focus on companies with strong fundamentals and growth potential[4] - The weighted average excess return of the fund's heavy positions is 12.66%, with an excess win rate of 82.61%[4] Risk Management - The fund's maximum drawdown was 20.35% in 2024, with a recovery time of only 51 days[2] - The fund's average turnover rate has decreased to 1.09, indicating a more stable investment approach[2]
长城基金曲少杰：以估值盈利匹配为核心掘金质优个股
Southwest Securities·2025-05-28 07:50