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首批主动权益基金三季报出炉,普遍维持高仓位,知名产品规模增超40%
Bei Jing Shang Bao· 2025-10-19 14:41
Core Insights - The recent quarterly reports from active equity funds indicate a strong confidence in the A-share market, with many funds maintaining high equity positions and some increasing their investment ratios [1][4][5] - Fund managers express optimism about future A-share performance, citing low market valuations, increased policy support, and gradual economic recovery as key factors [1][8][9] Fund Performance and Size - Several active equity funds reported significant growth in size, with the "Quanguo Xuyuan Three-Year Holding Period Mixed Fund" leading at 19.069 billion yuan, a 45.77% increase [4] - The "Shangyin Digital Economy Mixed Fund" saw its size surge from 13.69 million yuan to 260 million yuan, marking a notable increase [4][5] - Out of 21 disclosed active equity funds, 14 experienced size growth in Q3, with three funds doubling their size [4][5] Equity Positioning - A majority of the funds reported maintaining high equity positions, with 17 out of 21 funds having over 80% of their assets in stocks [5] - Many funds, including "Jinxin Intelligent China 2025 Flexible Allocation Mixed Fund," increased their stock positions during Q3, while a few, like "Shangyin Digital Economy Mixed Fund," made slight reductions [5][6] Portfolio Adjustments - The "Quanguo Xuyuan Three-Year Holding Period Mixed Fund" made significant changes to its top holdings, adding stocks like "Tianqi Lithium" and "Alibaba," while reducing positions in "Ningde Times" and "Tencent" [6] - The "Shangyin Digital Economy Mixed Fund" underwent a complete overhaul of its top holdings, focusing on semiconductor and AI-related stocks [6][7] Market Outlook - Fund managers are generally optimistic about the A-share market's future, anticipating steady economic recovery and favorable policies to drive growth [8][9] - The upcoming "14th Five-Year Plan" is expected to provide direction for domestic economic development, with a focus on consumption and technology as key growth areas [8][9]