开年首月基金业绩亮眼！资源赛道领跑

Core Viewpoint - The strong performance of resource-themed funds has significantly contributed to the high returns of public funds in January 2026, with the top-performing funds achieving returns as high as 54.76% [1][2]. Group 1: Fund Performance - In January 2026, the top three performing funds were West China Li De Strategy Preferred, West China Li De New Power, and Qianhai Kaiyuan Gold and Silver Jewelry Mixed, with returns of 54.76%, 53.93%, and 49.30% respectively [2]. - A total of nine out of the ten top-performing funds were heavily invested in resource sectors, indicating a strong preference for cyclical stocks among fund managers at the start of the year [1][2]. - The performance of these funds reflects a shift from technology-focused investments to resource-based strategies, with only one fund in the top ten being technology-themed [1][2]. Group 2: Investment Strategies - Many top-performing funds adopted a track-focused investment strategy, aligning their portfolios predominantly with resource sectors [2]. - The West China Li De Strategy Preferred fund, which previously employed a balanced investment approach, shifted to a more focused strategy, resulting in a significant recovery in performance after a loss of 9.64% in 2025 [3]. - The fund's net value saw a notable increase of 8.12% on January 28, 2026, indicating a strategic pivot towards resource stocks [3]. Group 3: FOF Performance - Public FOF products also achieved impressive returns in January 2026, with the highest return reaching 37.12%, led by Guotai Preferred Navigation FOF [4]. - The success of these FOFs is attributed to their embrace of track-focused strategies and significant allocations to resource-themed funds, with some products showing a distinct single-industry characteristic [4][5]. - Guotai Preferred Navigation FOF's top ten holdings included six resource-themed funds, which accounted for over 56% of its total portfolio, enhancing its performance volatility and returns [4][5]. Group 4: Market Outlook - Fund managers expressed optimism for the market in the first quarter of 2026, with strategies focusing on identifying undervalued opportunities in cyclical sectors [7][8]. - The manager of the Guotai Preferred Navigation FOF highlighted a shift from valuation expansion to profit expansion in the market, planning to focus on gold, silver, and rare earth sectors [8]. - The global storage chip industry is expected to benefit from significant supply-demand mismatches, presenting opportunities for growth in the sector [7].