【环球网财经综合报道】今年以来，消费主题基金业绩呈现出显著分化。东方财富Choice数据显示，截至9月25 日，在206只名称中带有"消费"二字的基金里，海富通消费优选混合A近一年以135.42%的净值涨幅排名首位，财 通资管消费精选混合A、永赢新兴消费智选混合发起A、国联沪港深大消费主题A等多只产品同样表现出色，净值 涨幅均超过80%。然而，在业绩排行榜的另一端，仍有3只消费主题基金近一年净值涨幅不足10%，业绩差距十分 明显。 不仅如此，下半年以来，多只消费相关ETF吸引了大量资金流入。东方财富Choice数据显示，截至9月25日，鹏华 中证酒ETF份额增长109.7亿份，按照0.6元成交均价计算，合计获得65.37亿元资金净流入；汇添富中证主要消费 ETF份额增长75.28亿份，按照0.85元成交均价计算，合计获得63.88亿元资金净流入。此外，华夏中证食品饮料 ETF、富国中证旅游ETF也均获得17亿元以上资金净流入，显示出市场对消费板块的关注度依然较高。 从基金二季报披露的持仓情况来看，上述绩优消费基金大多重仓配置了不少新消费企业。以海富通消费优选混合 A为例，截至二季度末，珠宝企业潮宏基在其投资组 ...

新消费成机构布局重点 ◎记者 王彭 今年以来，消费主题基金业绩显著分化，不少绩优产品对新消费相关标的进行了重点布局。站在当前时 点，机构认为，消费板块长期潜力可期，但短期基本面仍待数据验证，新消费领域或成未来布局的重点 方向。 范雨露 制图 ■投基论道 消费主题基金业绩显著分化 Choice数据显示，截至9月25日，在206只名字中含有"消费"二字的基金中，海富通消费优选混合A近一 年以135.42%的净值涨幅排名首位，财通资管消费精选混合A、永赢新兴消费智选混合发起A、国联沪 港深大消费主题A等多只产品净值涨幅也均超过80%。不过，在业绩排行榜的另一端，尚有3只消费主 题基金近一年净值涨幅不足10%。 从基金二季报披露的持仓来看，上述绩优消费基金大多重仓配置了不少新消费龙头。以海富通消费优选 混合A为例，截至二季度末，珠宝行业龙头潮宏基在组合中占比4.87%，为基金第三大重仓股。截至9月 25日，今年以来潮宏基股价涨幅超过150%。 永赢新兴消费智选混合发起A则重仓持有泡泡玛特，截至二季度末该股在组合中占比9.11%，为基金第 二大重仓股。截至9月25日，泡泡玛特今年以来涨幅高达193.23%。 Choic ...

Group 1 - The core investment strategy focuses on buying competitively advantageous companies at reasonable prices to earn compound growth, emphasizing strong business models and financial robustness [1][8] - The growth value fund pool has shown a significant annualized return of 16.88% from February 2, 2015, to August 7, 2025, outperforming the equity fund index by 9.36% [1][10] - The fund pool has maintained a high annualized Sharpe ratio of 0.82, indicating effective risk-adjusted returns, and has consistently outperformed the equity fund index in most years [10][13] Group 2 - The excess returns are primarily driven by stock selection, with notable contributions from industry rotation and dynamic adjustments [2][13] - The growth value funds are defined based on their relative undervaluation characteristics, focusing on funds with positive exposure to the PB-ROE factor [2][21] - The selected growth value funds exhibit high and stable dynamic returns, with a focus on industry and stock selection [22] Group 3 - The report lists a selection of growth value funds, highlighting their respective managers, sizes, and year-to-date returns, with some funds showing returns exceeding 50% [3][22] - The fund pool has increased its allocation to the financial sector while reducing exposure to TMT, indicating a strategic shift in response to market conditions [18][20] - The report emphasizes the importance of matching individual companies' operational stages with industry trends for effective stock selection [25]

Group 1 - The core viewpoint of the news is that Baoxiniang (002154.SZ) reported its Q1 2025 results, highlighting the institutional investor holdings and changes in share ownership [1] - As of April 30, 2025, a total of 12 institutional investors disclosed holdings in Baoxiniang A-shares, with a combined holding of 88.01 million shares, representing 6.03% of the total share capital [1] - The top ten institutional investors collectively held 6.02% of the shares, with a decrease of 0.87 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, Hai Fu Tong Consumer Preferred Mixed A, increased its holdings, while two funds, including Zhong Ou Value Discovery Mixed A and Southern CSI 1000 ETF, reduced their holdings by 0.74% [2] - Five new public funds were disclosed this quarter, including Zhong Ou Jia Xuan Mixed A and Xi Bu Li De New Power Mixed A [2] - A total of 121 public funds were not disclosed this quarter, including Zhong Ou Potential Value Flexible Allocation Mixed A and Hua Xia CSI 1000 ETF [2] Group 3 - In the insurance fund sector, one pension fund, Great Wall Life Insurance Co., Ltd. - Self-owned funds, was not disclosed this quarter [3] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 1.14% compared to the previous quarter [3]