外资公募隐形重仓股曝光！

Core Viewpoint - Several foreign public funds have delivered impressive performance this year, with some products ranking among the best in their category, revealing hidden heavy holdings as half-year reports disclose their positions [1][2]. Group 1: Fund Performance - Fidelity Heritage 6-Month A achieved a significant return of 31.61% year-to-date, with hidden heavy holdings including Jiangsu Shentong, ZhongAn Online, Jinzheng Co., AVIC Xi'an Aircraft Industry, and Xingyun Co. [3] - Schroder China Power A also performed well, with a year-to-date return of 31.01%, featuring hidden heavy holdings such as XPeng Motors, Li Auto, NewEase, Leap Motor, and China Merchants Bank, indicating a focus on the optional consumption sector [3]. - Allianz China Select outperformed with a year-to-date return of 40.59%, with hidden heavy holdings including Zhuoyi Information, Junshi Biosciences, Zhaomin Technology, Fuda Co., and Fulai New Materials, reflecting a shift in focus towards optional consumption and healthcare [4]. Group 2: Investment Strategy - Foreign public funds maintain a balanced allocation strategy while emphasizing key sectors such as information technology and healthcare, which helps capture structural opportunities in a differentiated market environment [2][4]. - The investment managers of Schroder China Power anticipate that the divergence between weakening macroeconomic momentum and active structural market conditions will continue to drive structural opportunities, supported by favorable monetary policy and capital market confidence [5]. - Fidelity Heritage's managers emphasize a high allocation in information technology and industrial sectors, while reducing exposure to overvalued optional consumption stocks, focusing on companies with strong strategic capabilities and governance [6].