新兴成长基金池202602：科技板块波动影响超额收益

Group 1 - The core investment strategy focuses on selecting sectors with low penetration rates and high expected growth potential, particularly in emerging growth areas driven by technological or business model innovations [6][9] - The selected emerging growth sectors are primarily concentrated in machinery, TMT (Technology, Media, and Telecommunications), and new energy industries [9][11] - The emerging growth fund pool has demonstrated strong elasticity and higher risk, with an annualized return of 17.80% from February 7, 2014, to February 6, 2026, outperforming the equity fund index by 7.67% [11][14] Group 2 - The definition of emerging growth funds is based on the attributes of the holdings, requiring that growth stocks constitute over 60% of the top holdings, with a minimum of 30% in emerging growth stocks [22] - The screening process for the emerging growth fund pool emphasizes funds that closely follow trends and have higher momentum and market sentiment [23] - The fund pool's performance has shown significant contributions from industry allocation, with a strong ability to generate excess returns through effective sector selection [14][20] Group 3 - The fund pool's style is characterized by high market attention, momentum, growth, and volatility, with a relatively neutral market capitalization style [17] - The allocation has shifted primarily towards TMT sectors, with increased exposure in recent years, particularly since 2023 [20] - The historical performance of the emerging growth fund pool indicates strong returns in specific years, such as 2020, where it achieved a 116.40% return compared to the equity fund index [15][16]