“困境反转”开启、量化解锁中盘成长股、两大维度寻超额收益……三大基金经理最新研判来了

Core Viewpoint - The article discusses the transformation and challenges in the capital market, emphasizing the shift from scale expansion to high-quality development in China's public fund industry, highlighting the importance of professional investment research in optimizing asset allocation [1] Group 1: New Energy Sector Insights - The new energy sector is showing signs of stabilization and recovery after nearly four years of deep adjustment, with the China Securities New Energy Index rising by 43% since the second half of the year, significantly outperforming the CSI 300 Index, which only increased by 2.59% during the same period [5][6] - Zhao Yi from Quan Guo Fund expresses optimism about the lithium battery industry, stating that the supply side is experiencing positive changes due to market clearing and "anti-involution" policies, leading to a new phase of "volume and price rise" [6][7] - The lithium battery industry is expected to see a supply-demand reversal, with prices and profits at historical lows, and a projected annual growth rate of 20% to 30% driven by diverse applications beyond just electric vehicles [7][8] Group 2: Investment Strategies - Zhao Yi emphasizes a "two-end allocation" investment strategy, focusing on high-end manufacturing and technology sectors, while also investing in industries undergoing "dilemma reversal," such as new energy and military industry [10] - The strategy includes investing in companies with global competitiveness and optimizing the portfolio through in-depth research [10] - The article highlights the importance of maintaining a clear investment framework to navigate complex market environments, ensuring disciplined execution of strategies to mitigate emotional trading [21][22] Group 3: Quantitative Investment Approaches - Tian Dawei from Xingzheng Global Fund discusses the launch of a new index-enhanced fund aimed at capturing excess returns through multi-factor quantitative stock selection [13][14] - The article notes that the market for index-enhanced products is still a "blue ocean," with significant demand from both institutional and individual investors [14] - The quantitative investment strategy focuses on identifying and validating alpha factors, utilizing a collaborative approach among various departments to enhance investment decision-making [16][17] Group 4: Market Dynamics and Risk Management - The article mentions that the current market environment, characterized by frequent style changes and sector rotations, provides fertile ground for quantitative strategies to thrive [25] - It highlights the importance of risk control in quantitative strategies, ensuring that tracking errors relative to benchmarks are kept within target ranges to maintain consistent excess returns [24] - The article concludes that the core value of quantitative funds lies in identifying market mispricing opportunities, with a long-term perspective on accumulating excess returns [25]