近期权益市场持续升温，多项指数表现强劲。人工智能、创新药、军工等热门板块轮番上涨，推动基金净值快速攀升。然而在这轮行情中，众多绩优基金却 选择逆市限购，引发市场关注。 绩优产品密集启动限购机制 基金公司选择限购主要出于两方面考虑。策略容量限制是重要因素之一。小微盘风格基金在今年表现突出，中证2000指数年内上涨约30%。但这类策略往往 面临容量瓶颈，规模过大会影响投资效率。 量化基金的限购更多源于策略特性。小市值股票的流动性相对较差，大量资金涌入会推高交易成本。基金经理需要在有限的投资标的中进行配置，规模扩张 可能导致策略失效。 保护现有持有人利益是另一重要考量。当新资金在基金净值高位大量涌入时，基金经理被迫在不利时点建仓。这不仅增加交易成本，还可能摊薄原有持有人 的收益。通过限购控制资金流入节奏，有助于维护投资策略的连续性。 部分基金的限购还与特定投资领域相关。医疗创新、人工智能等热门赛道虽然表现亮眼，但优质标的相对稀缺。基金规模快速膨胀可能迫使基金经理投资次 优标的，影响整体收益水平。 招商成长量化选股基金更是在短期内两次收紧限购标准。7月底该基金将大额申购限制在20万元，半个月后再次下调至2万元。这种快 ...

1、A股这个星期的周线走得很漂亮，跟我此前预期的能出现阳包阴基本一致，本周沪指的涨幅达到了2%，也突破了上个星期的高点，这是好事，按照目前 的K线走势看，下周应该是顺着多方炮继续向上拓展空间的一周，或者说直接突破3674点。 然而，从日线看好像没有那么顺畅了，尤其是周四的时候出现了一根带下影线的小阳线，一般来说上升了一段时间，出现这种例如伞状的K线走势，多少有 那么点乏力或者滞涨的迹象，而周五出现的这根十字星其实是对周四市场心态的一个最好回应，说明无论是多头还是空头，现在大家都有点六神无主了。 2、再说板块的机会吧，机器人在最早的时候我就提出了，这个星期走势很强劲，其实目前我已经没有了机器人的仓位，原因是感觉位置抬高了，这仅仅是 一方面，更重要的是我觉得机器人未来会进入到分化层面，意思就是说不是所有的机器人概念都会上涨，市场会选择出结构性的机会，就跟现在的新能源一 样，固态电池是主流，其他的引发不了市场兴趣。 还有创新药，目前的位置其实也不低了，但是我感觉创新药虽然位置高，但是未来的机会比较大，毕竟这次创新药属于基本面转折，市场资金的热情短期内 是不会消除的，最差的走势也是维持创新药指数的高位震荡，而不同公司 ...

Group 1 - The core point of the news is that China Universal Asset Management has announced a subscription limit for two of its funds, the China Universal Science and Technology Innovation Fund and the China Universal Medical Innovation Fund, starting from August 11, to protect existing investors and maintain stable operations [1] - The China Universal Science and Technology Innovation Fund, managed by Shao Jie, has achieved a return rate of 132.55% since inception, with an annualized return of 14.79% for Class A shares and 39.66% with an annualized return of 13.11% for Class C shares [1] - The China Universal Medical Innovation Fund, managed by renowned fund manager Ge Lan, has a return rate of 68.74% for Class A shares and 60.24% for Class C shares since inception, with annualized returns of 8.45% and 7.59% respectively [1] Group 2 - The China Universal Science and Technology Innovation Fund focuses on the technology innovation industry, with significant investments in sectors such as smart vehicles, advanced manufacturing processes, and self-developed chip IP [2] - The top ten holdings of the China Universal Science and Technology Innovation Fund include companies like Hengxuan Technology, Lanyin Technology, and Tencent Holdings, with total market values ranging from approximately 117 million to 350 million yuan [2] - The China Universal Medical Innovation Fund primarily invests in stocks related to medical innovation, with a focus on innovative pharmaceuticals and medical devices [2][4] Group 3 - The top ten holdings of the China Universal Medical Innovation Fund include companies such as Sanofi Pharmaceutical and WuXi AppTec, with market values ranging from approximately 324 million to 729 million yuan [4] - Other funds managed by different companies, such as ICBC Credit Suisse and Great Wall Fund, have also reported high returns this year, with notable investments in similar sectors [5][6]