As the mid-year evaluation period for public funds draws to a close, a group of high-performing products is capturing significant attention.
Data from Wind reveals that, as of June 29th, the number of active equity funds that have doubled their net asset value within the year has surpassed one hundred. Among these, the highest net value growth rate is approximately 175%, potentially setting a new record for the best performance in the same period of previous years. Furthermore, an analysis of the overall performance of these top-tier products indicates that a majority of them favor technology sectors, such as artificial intelligence (AI).
In terms of performance rankings, the current count of "double-gain" funds for the year has reached well over a hundred. Specifically, the net value growth rates for funds like Fortune TR Fund - Fortune TR Multi-Strategy Fund Fuxin, Founder Fubon Core Advantage A, and Fortune TR Fund - Fortune TR Craftsman Selection One-Year Holding A stand at 175.21%, 174.7%, and 163.25% respectively. These three are currently the only products in the entire market with growth rates exceeding 160%. Another 47 products, including China Merchants Balanced Growth A, ChinaAMC SSE STAR Semiconductor Materials and Equipment Theme ETF, Orient AI Theme A, and Yinhua Integrated Circuit A, have maintained net value growth rates between 120% and 150% for the year. Additionally, 104 products, such as Guotai AMC CSI Semiconductor Materials and Equipment Theme ETF Link A, Harvest Frontier Innovation, and Golden Eagle Industrial Intelligence Selection One-Year Holding A, have achieved growth rates ranging from 100% to 120%.
Since the beginning of this year, the A-share market has exhibited divergent trends, with technology sectors like AI consistently charting their own upward course. This has led to a significant divergence in the performance landscape of active equity funds. Notably, funds heavily invested in technology sectors have seen their net values surge dramatically. For instance, the aforementioned "double-gain" funds are all heavily concentrated in specific sub-industries within the technology sector.
Yinhua Integrated Circuit A has focused its investments on the semiconductor industry in recent years, consistently maintaining significant positions in semiconductor equipment companies with solid earnings and gradually building positions in competitive large-scale chip design firms. The fund's first-quarter report shows that its top seven stock holdings, each accounting for over 8% of the fund's net asset value, are all technology stocks. These include Piotech Inc., Naura Technology Group Co.,Ltd., Kingsemi Co.,Ltd., Huanwei, Zhongke Feice, Advanced Micro-Fabrication Equipment Inc. China, and Jingce Electronic.
Fang Jian, the portfolio manager of Yinhua Integrated Circuit Hybrid Fund, stated that the semiconductor industry currently presents a relatively high-value and certain investment direction, with significant opportunities potentially brewing in several sub-sectors.
The first-quarter report for China Merchants Balanced Growth Hybrid A indicates that its top five stock holdings are Changfei Optical Fiber, Xinyisheng, Zhongji Xunchuang, Yuanjie Technology, and Changguang Huaxin, with each stock investment exceeding 5% of the fund's net asset value. Zhang Mingxin, General Manager of the Equity Investment Department at China Merchants Fund, expressed that China's AI industry holds immense potential for future development. From a medium to long-term perspective, the trends of technological iteration and industrial upgrading within China's AI sector remain unchanged, maintaining a strong degree of certainty.
China Asset Management Co., Ltd. (ChinaAMC) has emerged as one of the fund companies with the highest number of "double-gain" funds in the first half of the year, with several of its products also holding technology assets. For example, products like ChinaAMC SSE STAR Semiconductor Materials and Equipment Theme ETF and ChinaAMC CSI Semiconductor Materials and Equipment Theme ETF have all achieved net value growth rates above 130% for the year.
A relevant business head at ChinaAMC commented that the certainty surrounding hard technology is currently relatively strong, and they remain positively optimistic about this stage, noting its evident resilience during market adjustments. However, they also highlighted the coexistence of robust fundamental support for AI computing power alongside potential concerns about corrections. Furthermore, benefiting from the expansion of capital expenditures, industrial chains like semiconductors are experiencing extremely high certainty. The stock price performance of related companies accurately reflects these fundamentals, and it is highly probable that the earnings of leading enterprises will trend towards even greater strength.
Comments