创五年最佳！九成FOF业绩飘红

Core Viewpoint - Publicly offered Fund of Funds (FOF) has achieved its best performance in five years, primarily due to heavy investments in equity funds, especially in the pharmaceutical and technology sectors, reversing a four-year performance slump [1][3][4]. Performance Summary - Over 90% of FOFs have reported positive returns this year, with the best-performing FOF achieving a return of 34.28% [1][3][4]. - As of August 17, 2023, 29 publicly offered FOFs have exceeded a 20% return, with the top three being Guotai Fund's Guotai Preferred Navigation (34.28%), Guotai Industry Rotation (31.27%), and ICBC Smart Progress (28.92%) [3]. - The annual highest returns for publicly offered FOFs from 2021 to 2024 were 14.57%, 0.29%, 3.69%, and 17.14%, indicating a significant recovery in 2024 [3]. Investment Strategy Shift - FOFs have shifted from conservative strategies focused on bond funds to aggressive strategies emphasizing equity funds, particularly high-volatility stock funds [5][6]. - The top-performing FOFs predominantly hold equity funds, with a notable example being Guotai Preferred Navigation, which has 8 out of 9 holdings in equity funds, including a focus on rare earth and Hong Kong innovative drug ETFs [6][7]. Market Trends - The total number of FOFs reached 518 with a management scale of 156.44 billion yuan, reflecting a quarter-on-quarter increase of 9.45% [4]. - The trend of investing in high-yield funds, particularly those focused on technology and Hong Kong stocks, has become crucial for FOFs to maintain client retention and product viability [10][11]. Client Retention and Future Outlook - The current market demand favors FOFs that heavily invest in high-elasticity equity funds, particularly in technology and pharmaceutical sectors, as opposed to bond funds [11]. - The ability of FOFs to adapt their investment strategies to focus on equity funds is seen as essential for retaining clients and ensuring the longevity of their products in a competitive market [10][11].