Group 1 - The long-term growth investment strategy focuses on allocating to industries that are likely to achieve sustained and stable profit growth over 5-10 years or longer, with representative industries including food and beverage, and pharmaceuticals. Current selected long-term growth sectors are primarily concentrated in non-ferrous metals and electricity and public utilities [1][7][10] - The long-term growth fund pool has shown historical excess returns, with an annualized return of 14.30% from February 7, 2014, to November 11, 2025, outperforming the equity fund index by 4.47%. The fund pool has a volatility of 20.96% and a Sharpe ratio of 0.68, indicating a high investment cost-performance ratio [1][10][12] - The fund pool demonstrates strong industry allocation and stock selection capabilities, with stock selection consistently contributing to excess returns. The latest portfolio shows a significant reduction in liquidity preference, with a primary focus on consumer sectors and an increased allocation to the pharmaceutical industry [1][10][18] Group 2 - The definition of long-term growth funds is based on the attributes of the holding industries and stocks, requiring that the average proportion of growth stocks in the top holdings over the past year exceeds 60%, with a minimum of 40%. Additionally, the proportion of long-term growth stocks in the top holdings must exceed 40% [2][20] - The latest long-term growth fund pool includes several funds, with notable performances such as "汇添富大盘核心资产 A" achieving a return of 30.55% and "前海开源国家比较优势 A" returning 9.50% [2][21] - The long-term growth fund pool is primarily focused on sectors with strong profitability, higher management efficiency, and expected higher dividends, with a sample of funds selected based on these criteria [2][21] Group 3 - The long-term growth sectors selected for analysis include non-ferrous metals, electricity and public utilities, with specific industries showing significant net profit growth rates over 5 and 10 years, such as copper at 58.54% and gas at 42.07% [8][9] - The historical performance of the long-term growth fund pool indicates that it has generally outperformed the equity fund index, particularly in bull markets, while also managing to control drawdowns during market downturns [10][12][13] - The latest portfolio shows a significant allocation to consumer sectors, with approximately 66% of the positions in consumer-related industries, reflecting a strategic shift towards increasing exposure to the pharmaceutical sector [18][19]