Core Viewpoint - The performance of the Huaxia North Exchange Innovation Selected Fund has been outstanding, achieving a 72.2% return in the first half of the year and a 175.6% return over the past three years, making it the top performer in the market during this period [1][5]. Group 1: Fund Performance - The Huaxia North Exchange Innovation Selected Fund ranked third in the market with a 72.16% increase in the first half of the year [4]. - Over the past three years, the fund has achieved a net value growth rate of 175.64%, the highest among all market funds [5]. - The fund's performance has been significantly bolstered by a remarkable 182.7% return in the last year [7]. Group 2: North Exchange Advantages - The North Exchange has become a gathering place for innovative small and medium-sized enterprises, with 268 listed companies, including 158 "little giant" enterprises, accounting for 59% of the total [8]. - The North Exchange has seen a substantial increase in stock prices, with the North Exchange 50 Index rising by 1.04 times in the past year [8]. - The market is characterized by a relatively low level of institutional participation, allowing for greater opportunities for professional investors to discover undervalued companies [12]. Group 3: Investment Strategy - The fund manager, Gu Xinfeng, has a long history of investment in the New Third Board and North Exchange, which has contributed to the fund's success [13][15]. - The fund employs a "dynamic balance" strategy, with a diversified industry allocation that minimizes reliance on any single sector [16][17]. - The top three sectors in the fund's portfolio are automotive, machinery equipment, and agriculture, forestry, animal husbandry, and fishery, with respective allocations of 22.4%, 17%, and 14.7% [17]. Group 4: Future Outlook - The North Exchange is expected to continue its growth trajectory, supported by a steady supply of quality listings from the New Third Board, which has over 6,000 companies [27]. - Improvements in liquidity and trading volume, which has increased approximately 30 times over the past three years, are enhancing the trading ecosystem [27]. - The North Exchange is becoming increasingly attractive to quality enterprises, with ongoing policy support and an optimized listing mechanism [27].
北交所三载：在年轻的丛林里寻找价值