上演仓位“戏法”！多只基金“踩准”行情节点

Core Viewpoint - The article emphasizes that market fluctuations often present investment opportunities, highlighting the importance of flexible fund management in navigating these changes [1]. Fund Performance and Strategy - Several funds demonstrated agile adjustments in stock positions during the volatile market of the first half of the year, with some successfully avoiding significant losses during the downturn in early April and subsequently increasing their holdings to achieve substantial excess returns [2][5]. - For instance, the Yimin Service Leading Fund showcased exceptional management by increasing its stock position from 0.89% at the end of last year to over 90% by the end of the second quarter, with a peak increase of nearly 20% in the first quarter [3][5]. - The fund manager noted a strategic reduction in equity assets in late March due to concerns over upcoming earnings reports and new delisting regulations, leading to a stable net value during the market drop [3]. Market Positioning and Stock Selection - After the significant market adjustment on April 7, the fund increased its equity allocation significantly, focusing on small and mid-cap growth stocks while maintaining a balanced portfolio to avoid overexposure to any single sector [4]. - The Yongyin Ruiheng Fund, established in December, also saw its stock position rise from approximately 18% to about 70% by the end of the second quarter, with a notable increase in net value exceeding 14% during this period [4]. Risk Management and Position Control - Effective position control is crucial for stabilizing fund net values and preventing significant drawdowns from high equity exposure [6]. - The Agricultural Bank of China Fund incorporates strict asset allocation strategies in its contract, adjusting stock and non-stock asset ratios based on index performance to lock in profits and manage risks [6][7]. - The fund's historical performance illustrates that dynamic position control can mitigate risks during market downturns while allowing for gains during recoveries, with a maximum drawdown of less than 24% during significant market declines [7]. Fund Manager Strategies - Fund managers are advised to manage market volatility through position control and strategic stock adjustments, although this requires a high level of skill and is constrained by product type limitations [8].