Core Insights - The article highlights the performance of five prominent fund managers in the AI-themed fund sector, showcasing their investment strategies and returns in 2025, with an average return rate exceeding 43%, significantly outperforming the market index [2][9]. Group 1: Fund Managers and Performance - Li Jun (Huaxia Fund) manages the AI ETF (515070) with a return rate of approximately 46.79% in 2025, focusing on AI chips, algorithm software, and application devices, benefiting from the surge in AI computing power demand [3][9]. - Jin Zicai (Caitong Fund) leads the Caitong Growth Select fund with a return rate of about 59.13%, emphasizing technology growth stocks and making precise investments in AI computing stocks [4][9]. - Li Wenbin (Yongying Fund) oversees the Yongying Technology Driven fund, achieving a return rate of around 53%, with a focus on high-quality growth stocks in AI and semiconductors [5][9]. - Liu Gesong (Guangfa Fund) manages the Guangfa Technology Pioneer fund, which has a return rate of approximately 31%, concentrating on strategic emerging industries like new energy and AI [6][9]. - Liu Huiying (Noan Fund) leads the Noan Growth fund with a return rate of about 38%, focusing on the semiconductor and AI hardware sectors [7][9]. Group 2: Investment Styles and Risk Management - Li Jun employs a quantitative investment style, prioritizing liquidity control and minimizing tracking errors, making it suitable for passive investors [3][9]. - Jin Zicai is recognized for his industry rotation skills, focusing on high-risk, high-return strategies, with a dynamic adjustment approach to mitigate risks [4][9]. - Li Wenbin emphasizes a balanced fundamental approach, focusing on risk-reward ratios and dynamic allocation strategies [5][9]. - Liu Gesong adopts a growth-value balance strategy, emphasizing long-term investment opportunities and valuation control [6][9]. - Liu Huiying's concentrated investment style targets the semiconductor AI industry, aiming for high elasticity returns, but carries higher volatility risks [8][9].

Core Viewpoint - Recent changes in investment strategies among several technology-themed funds indicate a shift from domestic to overseas computing power investments, with some managers reducing exposure to humanoid robot stocks due to a lack of decisive technological breakthroughs [3][4][6]. Group 1: Investment Strategy Changes - Fund manager Jin Zicai from Caitong Fund has significantly adjusted the top ten holdings of his funds, moving from a heavy allocation in domestic computing power to an increased focus on overseas computing power, driven by the ongoing investment from global tech giants [3]. - The Caitong Growth Preferred Mixed Fund reported a net value growth rate of 11.23% in Q2, outperforming its benchmark by a substantial margin [3]. - Fund manager Feng Ludan from China Europe Digital Economy Mixed Fund echoed similar strategies, emphasizing investment in AI infrastructure related to overseas demand, with a Q2 net value growth rate of 12.69% [4]. Group 2: Sector-Specific Adjustments - Feng Ludan has reduced exposure to the humanoid robot sector, citing the need for a decisive technological breakthrough before increasing investments again [6]. - Conversely, fund manager Mo Haibo from Wan Jia Fund believes the humanoid robot sector is entering a golden development period and plans to gradually increase holdings if stock prices decline [6]. - Mo Haibo's funds have increased positions in several internet stocks, highlighting the significant investments by domestic tech giants in AI applications [6]. Group 3: AI and Computing Power Demand - Fund managers Lu Yang and Lei Tao noted that the global push for AI is just beginning, with significant commercial growth expected this year, particularly in overseas markets [7]. - The demand for computing power is anticipated to rise as large model and cloud service providers experience increased token demand and revenue, further driving investment in computing resources [7].