Group 1 - The core viewpoint of the news is that public funds focusing on the North Exchange and innovative pharmaceuticals have shown remarkable performance in the first half of 2025, with specific funds achieving significant returns [1][2]. - The top three performing public funds as of June 30, 2025, are: 1. CITIC Construction Investment North Exchange Selected Two-Year Open Fund with a return of 82.45% 2. Great Wall Pharmaceutical Industry Selected Fund with a return of 75.18% 3. Huaxia North Exchange Innovative Small and Medium Enterprises Selected Fund with a return of 72.16% [1]. - Over the past three, five, and ten years, the top-performing funds have been: 1. Huaxia North Exchange Innovative Small and Medium Enterprises Selected Fund with a return of 175.64% 2. Jinyuan Shun'an Yuanqi Fund with a return of 297.96% 3. Huashang New Trend Preferred Fund with a return of 361.6% [1]. Group 2 - The North Exchange theme funds have performed exceptionally well, with two of the top three funds being North Exchange theme funds. CITIC Construction Investment North Exchange Selected Fund ranks first [2]. - The top holdings of CITIC Construction Investment North Exchange Selected Fund include companies listed on the North Exchange, indicating a strong focus on this market [2]. - The fund manager of CITIC Construction Investment has expressed optimism about the long-term investment potential of North Exchange companies, while also emphasizing the need to manage external uncertainties [2][3]. Group 3 - Funds focused on innovative pharmaceuticals, particularly in the innovative drug sector, have also shown strong performance, with six out of the top ten funds investing heavily in this area [4]. - The Great Wall Pharmaceutical Industry Selected Fund, managed by Liang Furui, has become the runner-up in performance, with significant holdings in companies that have seen their stock prices double this year [4]. - The fund manager believes that the innovative drug sector is at a pivotal moment, with improvements in overseas research collaborations and financial reports expected to drive future growth [4].

出品｜公司研究室 文｜雪梅 最近，基金圈出现一个尴尬现象：部分业绩表现不错的次新基金，遭遇基民大面积赎回，净资产已低于5000万，面临清盘。 比如，深圳一家头部公募日前发布公告，旗下一只创新药行业基金提示或面临合同终止风险。 这是一只运作时间不久的次新基金，二季度该基金产品遭遇千万规模的资金赎回，规模由3月末的4700万元，陡降至6月末的3200万元。 值得注意的是：这只次新基金的净值一直在面值之上，且截至7月27日的年内收益率接近50%，排名同类4519只产品前列。 如果业绩差，遭人诟病也就罢了；业绩不错，却遭遇大面积赎回，难怪基金经理生闷气。 不过，这也不能全怪基民们见好就收。 前几年，基金权益投资表现不佳，赛道股更是上演疯狂的过山车行情，从年度增长100%的明星，转眼间滑落进亏损的泥潭。 对此，持有者可谓一朝被蛇咬，十年怕井绳。 眼下，一看老基金能够回本，新基金收益不错，基民甚至部分机构纷纷见好就收，落袋为安。 那么，今年以来，有没有业绩与规模比翼齐飞的基金呢？ 当然有！ | | | 开放式基金今年以来净值增长前10 | | | | --- | --- | --- | --- | --- | | 序号 ...