天天基金网·2025-09-11 05:55Core Viewpoint - The article discusses the recent volatility in the technology sector, particularly in AI-related stocks, and highlights the divergence in performance among actively managed equity funds that are heavily invested in these sectors [1][3][10]. Group 1: Fund Performance and Adjustments - Recent fluctuations in the technology sector have led to significant performance divergence among actively managed equity funds, especially those heavily invested in AI and computing power stocks [1][3]. - Funds like Yongying Technology Select and Dongwu Mobile Internet, which had high concentration in specific tech stocks, experienced notable declines in their top holdings, yet their net asset value (NAV) did not reflect the same level of decline [3][4]. - The average decline of the top ten holdings in the Yongying Technology Select fund exceeded 11%, while the fund's NAV only dropped by less than 6% [3]. Group 2: Market Trends and Investor Sentiment - The article notes that the recent adjustments in the technology sector may indicate a healthy market correction after months of growth, as funds begin to digest valuation bubbles [10][11]. - There is a shift in focus towards AI applications, with fund managers increasingly looking at opportunities in areas such as smart driving, AI hardware, and humanoid robots [11]. - The market is witnessing a transition from small-cap growth stocks to large-cap growth stocks, influenced by both market expectations and capital inflows [10]. Group 3: Specific Fund Examples - The Nordex New Trend fund, while still focused on the AI sector, saw its NAV drop significantly despite some of its holdings performing well during market corrections [7]. - The Qianhai Kaiyuan Cycle Select fund also experienced a discrepancy between estimated and actual NAV changes, indicating potential adjustments in their investment strategies [8]. - The Huashang Yuanheng fund, despite having a lower concentration in tech stocks, still faced significant NAV fluctuations, reflecting broader market volatility [4].