在"金银珠宝"赛道的强势助力下，公募2026年开年首月收益最高达54.76%。 2026年开年首月，A股市场结构性行情特征凸显，权益类基金赚钱效应释放、业绩喜迎开门红。其中，资源主 题基金强势霸屏业绩榜单，在首月收益率十强基金中，九只基金均重仓配置资源赛道，周期已成基金经理开年 选股的最大偏好，去年风靡市场的科技行业基金，仅占据一个席位，公募业绩榜单的行业主题特征已上演一轮 快速切换。 资源赛道领跑基金业绩排名 Wind数据显示，截至2026年1月31日，主动权益基金业绩表现抢眼，产品收益强势冲高。其中，西部利得策略 优选、西部利得新动力、前海开源金银珠宝混合位列收益前三名，收益率分别达到54.76%、53.93%、 49.30%。此外，西部利得行业主题、华富永鑫灵活配置、万家周期视野、银华同力精选、银华内需精选、广 发远见智选混合、山证资管精选行业等多只基金也跻身前十强，同期收益率均突破40%。 从投资策略来看，开年首月的业绩十强产品大多采取赛道化操作思路。从行业偏好分析，上述产品的重仓方向 几乎一致指向资源品赛道，仅广发远见智选一只基金为科技主题基金，该产品由基金经理唐晓斌管理，其将布 局重心放在半导体存 ...

Core Viewpoint - Index funds are becoming increasingly favored by public FOF (Fund of Funds) managers as they shift away from actively managed equity funds, primarily due to the predictable and researchable nature of index products [2][6]. Group 1: Performance of FOFs - As of July 23, the top seven performing public FOFs have all achieved returns exceeding 18% this year, with the highest return reaching approximately 22% [3]. - The top-performing FOFs have significantly reduced their holdings in actively managed equity products, with the core positions primarily consisting of index funds [4]. Group 2: Investment Strategy Changes - The investment strategy of FOFs has undergone a major shift, with a notable preference for index funds over active equity products, as evidenced by the holdings of the top-performing FOFs [4][5]. - For instance, the Guotai Fund's Guotai Preferred Navigation FOF has a core holding of nine funds, with 66.2% of its portfolio in index products, and only a minimal allocation to an active equity fund [4]. Group 3: Predictability and Research Efficiency - The stability, transparency, and predictability of index funds are key reasons for their growing preference among FOFs, as they require less research time compared to actively managed funds [6][7]. - FOF managers emphasize the importance of historical performance and the predictability of fund holdings, which are more easily observed in index products [7]. Group 4: Market Opportunities - FOFs are also capitalizing on opportunities in sectors experiencing significant downturns, focusing on index funds and ETFs to capture potential rebounds [8][9]. - The strategy includes maintaining a high equity position while diversifying across various sectors, such as military and non-bank financials, to enhance overall portfolio returns [9].