长城基金医药投资团队：在市场跌宕中潜心深研 精准捕捉医药产业投资机遇

Core Viewpoint - The pharmaceutical investment sector is experiencing a significant resurgence driven by multiple factors including aging population, policy support, technological advancements, and globalization, with a notable performance in 2023 [1][14]. Group 1: Market Performance - The Wind data indicates that as of July 11, 2023, the Wind Pharmaceutical Index has risen over 30% year-to-date, while the Hang Seng Hong Kong Stock Connect Innovative Drug Index has surged nearly 70% [1]. - Longcheng Fund's pharmaceutical investment team has demonstrated exceptional performance, with several funds achieving impressive returns, reflecting deep insights into industry trends and professional expertise [1][3]. Group 2: Fund Performance - Longcheng Fund's pharmaceutical products have shown remarkable results, with an average increase of 36.95% year-to-date as of June 30, 2023 [3]. - Specific fund performances include: - Longcheng Pharmaceutical Industry Selected A: 75.18% [4] - Longcheng Health A: 42.94% [4] - Longcheng Pharmaceutical Technology A: 41.40% [4] - Longcheng Medical Care A: 32.19% [4] - Longcheng Health Life A: 20.33% [4] - Longcheng Consumer Value A: 9.67% [4] Group 3: Investment Strategy - The investment strategy combines top-down industry trend analysis with bottom-up stock selection, focusing on innovation in the pharmaceutical sector while balancing volatility through cross-sector investments [6][11]. - The team emphasizes a collaborative approach, fostering efficient communication and information sharing among fund managers and researchers [12]. Group 4: Future Outlook - The pharmaceutical sector is expected to continue its growth trajectory, driven by increasing demand for innovative drugs due to aging populations and heightened health awareness [16]. - The core drivers for the current market momentum include the opening of overseas markets and the realization of revenue from previous overseas authorizations, which are anticipated to support the ongoing performance of the innovative drug sector [15][16].