吾股基金排名38！这只量化产品有何不同？|1分钟了解一只吾股好基（六十九）

Core Viewpoint - The article discusses the performance and strategy of the "Bosera Smart Quantitative Multi-Factor Equity Fund" (Bosera Smart), highlighting its ability to achieve excess returns through a combination of quantitative models and subjective analysis [3][4][18]. Fund Overview - Bosera Smart was established in November 2021 and has been managed by Liu Zhao since inception, achieving a total return of over 50% and an annualized return of 10.6% [4][6]. - The fund currently has a combined scale of 26.66 billion [3]. Performance Analysis - The fund has consistently outperformed the CSI 300 index and its performance benchmark since its inception, demonstrating stability in both bull and bear markets [6][7]. - The maximum drawdown since inception is -34%, indicating it is suitable for investors with a certain risk tolerance [7]. Manager Profile - Liu Zhao, the fund manager, holds a PhD in Financial Engineering from the University of Science and Technology of China and has over 8 years of experience in public fund management [5][9]. - He currently manages five funds with a total scale of 46 billion, focusing primarily on index enhancement and quantitative funds, all of which have achieved positive returns under his management [9]. Investment Strategy - The fund employs a multi-factor quantitative model for stock selection, emphasizing long-term effective factors while managing risk to achieve stable excess returns [3][10]. - Liu Zhao has a clear distinction in industry allocation, maintaining over 20% exposure in the electronics sector, which is the largest industry holding [10][14]. - The fund's stock selection strategy has shifted towards concentrated positions in four to five leading stocks in various segments, moving away from earlier diversified allocations [15]. Market Reception - The fund has gained significant market attention, with its combined share increasing from 300 million at the end of last year to 1.83 billion by the end of September this year, representing a growth of over five times [18]. - Institutional investors have shown a preference for the C-class shares due to their flexibility and lower costs, while individual investors may find A-class shares more economical for long-term holding [19][21].