Temporarily ranked first with a yield of 62%, Oriental Fund Zhou Siyue Sheng in fast forward and fast out? Chasing high and entering the AI fund has lost a lot

Cai Lian News Agency, August 31 (Reporter Wu Yuqi) August is coming to an end, and the new round of fund income rankings has been refreshed again.

Wind data shows that as of August 30, Oriental Regional Development topped the year's fund return list with a yield of 62.48%, followed by animation game ETFs, Huaxia CSI Animation Game ETF, Huatai Berry CSI Animation Game ETF, and Cathay CSI Animation Game ETF all returned more than 50% during the year.

It is worth noting that the reporter of CaiLian News Agency sorted out and found that since the second half of the year, the fund that originally relied on heavy AI "killing all sides" has continuously withdrawn within two months, losing most of its gains. In addition, those funds that chased the high in the second quarter and entered the AI sector, their situation can only be described as "miserable".

Eastern regional development reaches the top of the "champion base"

From the data point of view, in the first 8 months of this year, out of a total of 11,097 funds in the market (A/C shares are combined), 5,822 funds have a net value increase, 5,249 funds have a net value, and the rest of the net value is flat.

Among them, in the first eight months, 6 funds had a net value growth rate of more than 50% during the year, 22 funds had a net value growth rate of 40%, and Eastern Regional Development won the championship with a net value growth rate of 62.48%. It is understood that the Eastern Regional Development Hybrid was established on September 7, 2016, and as of August 29, 2023, the yield since its establishment is 37.02%, and the cumulative net value is 1.3702 yuan.

The reporter noted that the development of the eastern region has been relatively fast. For example, at the end of 2022, the fund's heavy stocks were software development, technology and other stocks, and in the first quarter of this year, the shareholding structure was switched to information innovation and digital economy, and in that quarter, Eastern Regional Development achieved a yield of 30.75%.

According to the second quarterly report, Oriental Regional Development has shifted its investment direction to liquor stocks and beer stocks, and eight liquor stocks and two beer stocks are among the fund's latest top ten heavy stocks. For the reasons for switching tracks, fund manager Zhou Siyue said that during the reporting period, regional development deeply participated in the rise of the artificial intelligence industry through structural adjustment, but due to the short-term rise of related targets was too fast, it shifted its position to the food and beverage sector with defensive attributes at the end of the quarter.

According to his resume, Zhou Siyue was the wealth manager of the special account wealth management department of Changsheng Fund Management Co., Ltd., a researcher of the research department of Orient Fund, and the vice president (VP) of the asset management department of CITIC Securities Co., Ltd. In 2017, he joined Orient Fund Management Co., Ltd.

The Huaxia CSI Animation Game ETF, which was once the "doubling base" of the year, has shrunk its returns sharply after nearly two months of adjustment, and so far, the second largest return of Huaxia CSI Animation Game ETF has narrowed to 55.29% from the highest doubling of returns during the year, and the fund has fallen by more than 20% in the second half of the year. The yields of Huatai Berry CSI Animation Game ETF and Cathay CSI Animation Game ETF are currently more than 50% during the year, and they have also fallen by 20% in the past two months.

In addition, since the beginning of this year, the performance of QDII products has also been more eye-catching, from the top 20 list, related products accounted for more than half, of which the tracking Nasdaq 100 index fund led the rise.

Specifically, products such as Huaxia Nasdaq 100 ETF, Cathay NASDAQ 100, Huaan Nasdaq 100 ETF, and GF Nasdaq 100 ETF returned more than 40% during the year, while QDII products such as GF Global Select and Huaxia Global Technology Pioneer with positions similar to the NASDAQ 100 Index also performed well during the year. (as shown below)

Funds with heavy AI positions retreated significantly in the second half of the year

Two months have passed since the end of the first half of the year, and it can be seen from the above compiled data that the fund income list has also undergone a "big shuffle". The reporter noted that most of the funds with the highest net value decline in the past two months were funds with heavy positions in AI in the second quarter.

Comparing the fund income list in the first half of the year, it can be found that those funds that once made high returns with heavy AI have disappeared at the top of the list. For example, in the first half of the year's "champion base" - Nord New Life, Wind data shows that Nord New Life is the first active equity fund in the first half of the year, with a net value increase of more than 75%. But as of August 30, the fund has lost 26.91% in the past two months.

Similarly, Guorong Rongsheng leader Yanxuan, which rose more than 55% in the first half of the year but lost more than 22% in net worth in the last two months. From the perspective of the second quarter position, the leader of Guorong Rongsheng strictly selected the optical communication sector focusing on the computing power direction of artificial intelligence. In addition, Huabao Internet of Things, which is also heavily invested in AI, also returned more than 40% in the first half of the year, while its net value fell by more than 26% in the past two months.

There are also some funds with heavy AI positions that have turned from positive to negative during the year, such as Haifutong Electronic Information Media Industry, the net value growth rate of the fund in the first half of this year was 23.69%, but in the past two months alone, it has lost all the returns in the first half of the year, and the net value of the current year fell by 4.01%. The fund's holdings in the second quarter were mainly deployed in key areas such as AI+ and games. Another example is EFORTIS Technology Innovation, the net value growth rate in the first half of the year exceeded 10%, and in the second half of the year, the net value of the fund fell by more than 20% in two months.

Even some funds chased up into AI in the second quarter, and their net worth experienced sharp ups and downs. For example, Golden Eagle Smart Life, the fund was still heavy in wine stocks in the first quarter, and the top ten heavy stocks in the second quarter "changed blood" to AI, and the net value growth rate of Golden Eagle Smart Life in the first half of the year was 10.45%, and it fell by 23.06% in the past two months, and the current return for the year has been negative.

Another example is Caitong Growth Preferred, managed by well-known fund manager Jin Zicai, at the end of the first quarter of this year, the fund's holdings were mainly in the power, new energy, aquaculture and other sectors, and in the second quarter, the position began to change significantly to AI. As of the end of the second quarter, the top ten heavy stocks of the fund are all AI concept stocks, including Foxit Software, Palmyue Technology, Chinese Online, Century Tianhong, etc., as of August 30, the fund's net value has fallen by 26.95% this year.

In the second quarter, the top ten heavy stocks of the fund were also greatly adjusted, and all of them were replaced with artificial intelligence concept stocks, which were 37 Interactive Entertainment, iFLYTEK, Palmfun Technology, Kaiying Network, Chinese Online, Shenzhou Taiyue, Zhongji Xuchuang, Perfect World, Century Huatong, and Rainbow Soft Technology. In the first quarter, the fund also diversified its holdings of new energy, materials, pharmaceuticals and other stocks. As of now, the net value of the fund has fallen by 24.03%.

It can be seen that if you chase up in the second quarter and buy funds that switch to the AI track, almost all of them are in a loss state. Even if the AI market buys at the beginning, even if it accumulates a large increase in the early stage, it is difficult to resist a large drawdown, and the income is further narrowed, and only a very small number of fund managers can stop profit, and the above-mentioned fund manager Zhou Siyue of Eastern Regional Development is one of them.

However, optimism about the artificial intelligence sector is still the mainstream view. Founder Securities believes that most of the current artificial intelligence (AI) application targets have been fully corrected, and with the successive disclosures of the interim report and the progress of application landing, high-quality AI applications are expected to become the direction with the least rebound resistance in the next stage. From the perspective of chip structure and product research and development of domestic application manufacturers, the increase in positions in the second quarter is mainly concentrated in the direction of computing power, and Chinese companies are expected to lose to overseas in terms of software application development and productization.

A relevant person of a large public fund in Shanghai told reporters that it is expected that the adjustment of the artificial intelligence sector will not be too long, and from an investment point of view, this is a better entry time. From a global capital markets perspective, NVIDIA's quarterly revenue is at an all-time high, and the AI boom will continue, which will have a ripple effect on the tech sector for the rest of the year.

This article originated from CaiLian News Agency reporter Wu Yuqi