Group 1 - The Huabao Medical ETF Connect A (162412) experienced a decline of 0.28% on May 19, with a latest net value of 0.56 yuan, marking a cumulative drop of 1.64% over three consecutive trading days [1] - Established in May 2015, the fund has a total size of 4.107 billion yuan and has recorded a cumulative return of -64.20% since inception [1] - As of the end of 2024, institutional investors hold 3.6 million shares, accounting for 0.52% of total shares, while individual investors hold 684.2 million shares, representing 99.48% of total shares [1] Group 2 - The current fund manager, Ms. Hu Jie, is a Chinese national with a master's degree in finance and has been with Huabao Fund Management Co., Ltd. since June 2006 [2] - Hu Jie has held various positions within the company, including Director of Index Investment and General Manager of Index Research and Investment Department, and has managed multiple funds since 2012 [2] - Her management experience includes overseeing the Huabao CSI Medical Index Fund and other significant index funds, demonstrating a strong background in fund management [2]

Core Viewpoint - The article emphasizes that the current valuation of the China Medical Index (中证医疗) is at historically low levels, making it an opportune time for regular investment by ordinary investors [1]. Group 1: Market Analysis - The China Medical Index has experienced a significant adjustment period, with a peak in June 2015 and a low point at the end of 2018, followed by a recovery until the end of 2021, and has now been in a correction phase for approximately two years [5]. - The current adjustment has reached about 60% of its potential, indicating that the market may be nearing a bottom, although the duration of the adjustment is uncertain [5]. - A longer adjustment period is seen as beneficial for regular investors, as it allows for the accumulation of shares at lower prices, potentially leading to greater future gains [5]. Group 2: Investment Strategy - Ordinary investors are advised to focus on the Price-to-Book (PB) ratio for the China Medical Index, with a recommendation to start regular investments when the PB is below 20% [9]. - For more aggressive investors, a threshold of 25% to 30% is suggested for initiating investments [9]. - The article lists several actively managed medical-related funds that have been established for over six years and have a scale of over 500 million, highlighting their respective returns, with the top performer achieving a return of 178.62% since May 2017 [11]. Group 3: Fund Selection - The article provides a table of selected funds, showing their total returns and annualized returns over a period of approximately 6.2 years, with the best-performing fund yielding an annualized return of 18.00% [11]. - It emphasizes that despite current low valuations, all listed funds have positive long-term returns, suggesting that the issue lies more with the timing of investments rather than the funds themselves [12]. - The article advises investors to consider funds that have survived through market cycles and have demonstrated resilience [12].