突然加速！避险资金拥抱消费ETF，什么信号？

Core Viewpoint - The consumer sector is expected to transition from a "cold bench" status to a core substitute in the eyes of fund managers, as institutional investors anticipate a shift in risk appetite and recognize the importance of domestic demand in stabilizing growth [1] Group 1: Consumer Fund Performance - Fund managers have shown a lack of interest in consumer stocks this year, with poor performance from consumer-themed funds, but there are signs of a turning point as fundraising for consumer funds accelerated in Q4 [3][4] - The recent launch of the Huaan Guozheng Hong Kong Stock Connect Consumer ETF, which raised 639 million yuan, marks a significant increase from previous consumer ETFs that struggled to attract over 300 million yuan [3][4] - Some consumer ETFs have recently experienced unusual premium phenomena in the secondary market, indicating a shift in investor sentiment towards consumer themes [4] Group 2: Defensive Nature of Consumer Funds - Consumer funds have demonstrated strong resilience against market downturns, contrasting with the significant losses faced by funds heavily invested in high-volatility sectors [5][6] - A notable example includes a fund managed by a prominent manager that saw its net value increase by 2.4% during a market decline, highlighting the defensive capabilities of consumer-focused investments [6] Group 3: Future Market Outlook - Multiple fund managers predict that domestic demand may emerge as a key investment theme in the latter part of the year, with potential for significant returns as economic recovery continues [8][9] - The market is expected to experience a low-slope upward trend, with an influx of incremental capital and a rebound in earnings growth across various industries anticipated in the upcoming quarterly reports [9]