Active equity funds delivered strong returns in the first five months of 2024, with Beijing Exchange-themed products dominating the rankings. The top performer, CITIC Construction Investment’s Beijing Exchange Selected Two-Year Fixed Open Mixed Fund, achieved an impressive 69.3% return. Several funds focused on pharmaceuticals and new consumption sectors also posted gains exceeding 50%, benefiting from sector rotation and policy tailwinds.
The innovative drug sector’s rally in Hong Kong markets propelled QDII funds to standout performance. Huitianfu Hong Kong Advantage Selected Mixed Fund, which concentrates exclusively on biotech stocks, led the pack with a remarkable 70.95% year-to-date return. This surge reflects growing investor appetite for China’s healthcare innovation landscape.
While these specialized funds have outperformed, market analysts caution about potential volatility ahead. The Beijing Exchange’s strong showing demonstrates its growing appeal, but questions remain about sustainability as valuations rise. Similarly, the biotech sector’s momentum faces regulatory and macroeconomic headwinds that could test recent gains.
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