截至2026年1月19日，前海开源周期精选混合A年内净值下跌3.64%，跑输业绩基准超10个百分点，同类排名5089/5100，表现垫底。 2026年以来，市场整体延续走强趋势，但也有一些基金产品业绩表现欠佳，大幅跑输业绩基准，本篇案例为前海开源基金旗下的前海开源周期精选混合A。 数据显示，截至2026年1月19日（下同），前海开源周期精选混合A年内净值下跌3.64%，跑输业绩基准超10个百分点，同类排名5089/5100，表现垫底。 该基金在2025年三季度大幅调仓，减持黄金资源股，转向重点配置算力相关方向的通信、电子和机械等成长板块。 前海开源周期精选混合A的基金经理为吴国清、王思岳。2026年以来，吴国清在管产品业绩表现分化明显。 2026年以来净值下跌3.64% 前海开源周期精选混合成立于2025年1月，基金的投资目标为：通过对上市公司的深入研究分析，在合理控制风险并保持基金资产良好流动性的前提下，力 争为投资者提供高于业绩比较基准的投资回报。 基金的业绩比较基准为：中证周期100指数收益率×70%+恒生指数收益率×20%+银行人民币活期存款利率（税后）×10%。 基金经理在管产品业绩分化明显 基金成 ...

Core Insights - The stock and mixed funds achieved a positive return of 70.27% on December 8, with 243 funds returning over 5% and 472 funds experiencing a net value drawdown exceeding 1% [1][2] Fund Performance - The Shanghai Composite Index rose by 0.54% to close at 3924.08 points, while the Shenzhen Component Index increased by 1.39%, the ChiNext Index by 2.60%, and the STAR 50 Index by 1.86% [1] - The top-performing sectors included telecommunications, comprehensive, and electronics, with increases of 4.79%, 3.03%, and 2.60% respectively. Conversely, coal, oil and petrochemicals, and food and beverage sectors saw declines of 1.43%, 0.84%, and 0.78% respectively [1] - The average net value growth rate for stock and mixed funds on December 8 was 0.80% [1] Top Funds - The fund with the highest net value growth rate was Guorong Rongxin Consumer Select Mixed C, achieving a growth rate of 10.01%. Other notable funds included Guorong Rongxin Consumer Select Mixed A (10.00%), and Guoshou Anbao Strategy Selected Mixed A (9.14%) [2] - Among the funds with a net value growth rate exceeding 5%, 142 were equity funds, 41 were flexible allocation funds, and 34 were index equity funds [2] Drawdown Analysis - A total of 472 funds experienced a drawdown exceeding 1%, with the largest drawdown recorded by Huatai-PB Hong Kong Stock Connect Medical Selected Mixed Initiated C, which saw a decline of 2.40% [2][4] - Other funds with significant drawdowns included Huatai-PB Hong Kong Stock Connect Medical Selected Mixed Initiated A (-2.40%), and Yin Hua Fu Li Selected Mixed C (-2.32%) [4]