“抢跑”！10只基金开年首周，涨超20%！

Core Viewpoint - The A-share market experienced a strong start in 2026, with the Shanghai Composite Index surpassing 4100 points and the Shenzhen Component Index exceeding 14000 points, marking significant highs in recent years. Institutional investors, particularly public funds, had already positioned themselves ahead of this rally, leading to substantial gains in various sectors such as commercial aerospace, semiconductor chips, and innovative pharmaceuticals [1][5]. Group 1: Fund Manager Strategies - Fund managers proactively increased their positions in late 2025, anticipating a spring market rally, with many reducing their exposure during market downturns in late 2025 [2][3]. - A notable fund manager highlighted the importance of macroeconomic indicators, such as stabilizing PMI data and a shift in overseas liquidity expectations, which prompted them to increase their holdings in semiconductor stocks, particularly storage chips, leading to over 15% returns in the recent rally [2][3]. - Institutional investors' early positioning is evidenced by several companies' buyback announcements, revealing that many fund managers had increased their stakes in key stocks during the fourth quarter of 2025 [3]. Group 2: Market Performance and Sector Highlights - The first week of 2026 saw ten funds achieving over 20% returns, with significant contributions from sectors like commercial aerospace and technology [5][6]. - The commercial aerospace sector emerged as a standout performer, with the China Satellite Industry Index rising by 85.7% from November 24, 2025, to January 9, 2026, and several key stocks experiencing over 200% gains [5][6]. - The semiconductor industry, particularly storage chips, is benefiting from increased demand driven by advancements in AI technology, with funds heavily invested in this sector reporting substantial profits [6][7]. Group 3: Future Market Outlook - Analysts predict a volatile market in 2026, with a positive sentiment expected in the first quarter, particularly for growth sectors like semiconductors and artificial intelligence [4][8]. - The macroeconomic environment, including favorable policies and improving economic fundamentals, is seen as a driving force for the continuation of the current market rally [8][9]. - Investment strategies are expected to focus on both technology and cyclical sectors, with potential price increases in industries like lithium batteries anticipated due to supply constraints and recovering demand [9][10].