主动权益类基金超额收益回归

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超1300只,创新高
中国基金报· 2025-08-14 11:48
Core Viewpoint - Over 1300 active equity funds have reached new net asset value highs, significantly outperforming the market index, indicating a return of excess returns in the A-share market [2][4]. Group 1: Fund Performance - As of August 13, the average net asset value growth rate for active equity funds this year is 16.03%, with 1332 funds achieving new highs, representing over 25% of all active equity funds [4]. - Notable funds such as Changcheng Medical Industry Select and Yongying Technology Smart Selection have seen their net asset values double this year [5]. - The Wind indices for mixed equity and ordinary stock funds have increased by 19.67% and 19.83% respectively, outperforming the CSI 300 index by over 12 percentage points [5]. Group 2: Factors Driving Performance - The continuous rise of the Shanghai Composite Index has led to an increase in stock prices, closely linking fund net values to stock performance [6]. - Certain funds have aligned their investment strategies with current market trends, capturing opportunities that have driven net value increases [7]. - Skilled fund managers leverage their expertise to identify market trends and investment opportunities, enhancing fund performance through strategic asset allocation and stock selection [7]. - Increased risk appetite and a favorable market environment have attracted significant capital inflows into equity funds, supporting their investment operations and driving net values higher [7]. Group 3: Future Outlook - The investment community remains optimistic about the market, with expectations of a positive cycle of capital inflows and market growth [9]. - Recommended sectors for investment include high-growth industries such as AI, innovative pharmaceuticals, non-ferrous metals, and military industries, which are expected to benefit from market activity [10]. - The current market's upward momentum is supported by solid fundamentals, with a clear policy backing and ongoing emergence of new growth drivers [10]. - Short-term market fluctuations may occur due to profit-taking, but a slow bull market is anticipated in the medium to long term, driven by fundamental recovery and positive capital feedback mechanisms [10].