Core Viewpoint - The article emphasizes the strong performance and strategic adjustments of the Jiashi Core Advantage Stock Fund, highlighting its ability to adapt to market changes while maintaining a focus on stable, high-quality stocks [2][3][8]. Fund Overview - Fund Code: 005612 - Fund Type: Shanghai-Hong Kong-Shenzhen Stock - Benchmark Index: CSI Shanghai-Hong Kong-Shenzhen Connect Comprehensive Index [1] Fund Performance - As of May 2025, the fund's annualized returns over its management period, as well as the last three and five years, are 5.69%, 2.02%, and 4% respectively, ranking 37%, 36%, and 37% among peers [2][15]. - The fund outperformed its benchmark, the CSI Shanghai-Hong Kong-Shenzhen Connect Index, by 6.91%, 2.02%, and 3.56% over the same periods [15]. Investment Strategy - The fund manager, Hu Yufei, employs a strategy focused on holding stocks with excellent business models and stable profitability, primarily in sectors such as consumer staples, information technology, pharmaceuticals, and materials [2][3][8]. - In 2024, the fund manager optimized the investment strategy by slightly increasing the allocation to change-driven assets and high-dividend stocks, reflecting a shift towards a more balanced investment style [3][8]. Fund Manager's Experience - Hu Yufei has 14 years of experience in the securities industry, with 7 years of investment experience, including research in A-share consumer and machinery sectors, as well as Hong Kong industrial stocks [4][15]. - The fund manager's expertise and the support from Jiashi Fund's research team contribute to the fund's ability to achieve excess returns in both A-share and Hong Kong markets [4][15]. Cost Efficiency - The fund's annual comprehensive fee rate is 1.78%, which is lower than the average of 2.13% for similar funds, providing cost savings for investors [21]. Asset Allocation - The fund's asset distribution includes 87.07% in stocks, 4.36% in bonds, and 5.93% in cash, with no allocation to commodities [9]. - The stock holdings are primarily in large-cap Chinese stocks (67.29%), with a minor allocation to developed markets (9.46%) [10]. Sector Allocation - The fund's sector allocation shows a significant focus on cyclical sectors (51.44%) and financial services (22.59%), with notable underweights in defensive sectors like healthcare and consumer staples [13].