回调或由获利了结导致 10月8日，国庆假期最后一天，港股遭遇回调。具体来看，截至收盘，恒生指数、恒生科技指数双双下跌0.48%、0.55%。若 拉长时间至10月以来，港股市场则呈现先扬后抑态势，恒生指数突破年内新高后连续回调。回顾年内，在港股走势表现亮 眼的背景下，多只港股主题基金业绩突出，最高已赚155%。有业内人士指出，未来港股仍有向上空间，科技板块仍将是市 场关注的焦点，板块或呈现"波动上行、龙头领跑"的格局。港股主题基金未来仍具备较好的投资机会，特别是聚焦新经济、 科技和创新产业的基金。 就具体产品看，截至9月末，汇添富香港优势精选混合C类份额和A类份额的前三季度收益率分别达155.14%和155.09%，排 名全市场基金收益第三、四名。同期，中银港股通医药混合发起A/C的收益率也达126.55%、125.48%，排名居前。 值得关注的是，在港股细分板块中，创新药行情的"狂飙"备受关注。仅从市场多只指数基金跟踪的中证港股通创新药指数来 看，据中证指数官网，截至9月30日，该指数年内涨幅已达118.52%。 这一背景下，多家公募旗下的港股创新药ETF或相关被动指数基金的前三季度收益也均翻倍，包括万家中证 ...

Group 1 - The equity market has shown significant profit effects this year, with equity assets becoming a major driver for the net value growth of public funds. As of August 15, the number of funds with a net value growth rate exceeding 100% has reached 16 [1] - Among these "doubling funds," 15 have heavily invested in the innovative drug sector, benefiting from the ongoing performance of this market segment. The future performance of the innovative drug sector is expected to remain promising due to still relatively low valuations of some targets [1][2] - As of August 15, there are a total of 209 funds with a net value growth rate of over 50% this year, with 16 of them achieving over 100% growth [1] Group 2 - The top-performing fund, Huatai-PB Hong Kong Advantage Selected Mixed (QDII) A, has a year-to-date net value growth rate of 143.24%. The fund continues to favor the innovative drug direction with a stock investment ratio of 92.65% as of the end of Q2 [2] - Other funds, such as Changcheng Medical Industry Selected Mixed and Bank of China Hong Kong Stock Connect Medical Mixed, also focus on the innovative drug theme. The fund manager of Nuon Selected Value Mixed noted that the innovative drug sector has been driven by expectations of large external licensing deals [2] - The impressive performance has attracted continuous market inflows, leading to significant growth in the scale of some "doubling funds." As of August 14, the listed fund scales of GF CSI Hong Kong Innovative Drug (QDII-ETF) and Huatai-PB National Index Hong Kong Stock Connect Innovative Drug ETF have reached 19.043 billion and 14.994 billion respectively [2] Group 3 - The fund manager of Huatai-PB Hong Kong Advantage Selected Mixed (QDII) believes that the market's investment understanding of the innovative drug sector is still evolving, with continuous emergence of unexpected overseas projects driving overall valuation increases [3] - The innovative drug sector is currently in a historical phase where domestic innovative drugs are transitioning from imitation to following and then to surpassing. The potential upper limit of this innovative drug market cycle is expected to exceed the previous cycle where domestic pharmaceutical companies acted as outsourcing partners for overseas firms [3] - Despite the high year-to-date growth of the innovative drug sector, the valuation of the Hang Seng Hong Kong Stock Connect Innovative Drug Selected Index is at a historically low level, indicating significant upside potential. The core driving logic of innovative drugs—domestic policy benefits and globalization breakthroughs—remains unchanged in the long term [3]

Group 1 - Over 300 active equity funds have reached new year-to-date highs in net value since April 7, driven by structural investment opportunities and a focus on domestic consumption [1][2] - As of April 28, 38 funds achieved new year-to-date highs, with a total of 302 funds since April 7, reflecting a market rebound supported by favorable policies [1][2] - Funds heavily invested in the consumer sector, such as Guotai Consumer Select and Pengyang Consumer Industry Mixed Fund, have shown remarkable performance amid rising domestic demand [1] Group 2 - The Shunwan Lingxin LeRong One-Year Holding Mixed Fund has reported over 30% returns year-to-date, focusing on trendy toys, gold jewelry, and pet-related sectors [2] - The Longcheng Pharmaceutical Industry Selected Mixed Fund has achieved a year-to-date return of 49.78%, with several other pharmaceutical funds also exceeding 35% returns [2] - Fund managers are increasingly adapting their strategies to capture emerging consumption opportunities, moving away from traditional investment paths [3] Group 3 - Fund managers emphasize the importance of understanding consumer demands and adapting to the preferences of younger generations, which is driving a new consumption cycle [3] - Investment strategies are evolving to include a broader range of assets and sectors, focusing on growth stocks, policy-driven companies, and dividend-paying value companies [3]