The top three leading funds announced their holdings: increasing allocation to intelligent robots and edge AI

The market this year is brewing a new batch of billion-yuan fund managers.

The latest third-quarter report shows that the scale of the China Europe Digital Economy Fund managed by Feng Ludan has jumped from 1.5 billion yuan in the middle of the year to over 13 billion yuan.

As of October 22, the China Europe Digital Economy Fund has increased by more than 131.5% this year, ranking in the top three in the industry.

Her third-quarter report naturally attracts attention.

Focus on AI

During the reporting period, the China Europe Digital Economy Fund maintained a high position allocation, continuously focusing on five core investment directions: AI infrastructure, intelligent robots and autonomous driving, AI applications, edge AI, and domestic AI industry chain.

This is an important reason for her outstanding performance.

Hot Stocks in Heavy Positions

From the top ten heavy positions, a large number of popular stocks continue to surge. NewEase, Zhongji Xuchuang, and others remain on the list.

In terms of adjustments, Shenghong Technology, XPeng-W, Kuaishou-W, FOURTH PARADIGM, Changxin Bochuang, and VeriSilicon have exited, while Alibaba-W, Xinquan Co., Sanhua, Tencent Holdings, SMIC, and Shengyi Technology have newly entered.

Adjustment Logic Exposed

Feng Ludan summarized the adjustments in the third quarter as follows, regarding specific allocations:

1. Slightly reduce AI infrastructure: The long-term growth logic remains solid, with significant gains accumulated earlier, maintaining cautious optimism and appropriate reduction;

2. Increase allocation to intelligent robots: Leading overseas companies are gradually achieving mass production;

3. Optimize AI application portfolio: Shift more from B-end application companies to C-end internet platform companies;

4. Increase allocation to edge AI: Edge AI functions are gradually being implemented, giving rise to a new wave of hardware replacement and software ecosystem innovation.

AI is Accelerating Penetration into End Devices

Feng Ludan stated that the accelerated development of the artificial intelligence industry in the third quarter has become the main theme of the market. Leading overseas AI companies and internet giants have significantly accelerated the commercialization process, and AI technology is beginning to reshape traditional internet fields such as search, social networking, and e-commerce, with boundaries gradually blurring.

Major technology companies are consolidating their existing business moats while actively expanding new scenarios and touchpoints in the AI era, striving to establish deeper and longer connections with users. This strategic shift is reflected not only at the product level but also in fundamental adjustments in organizational structure and resource allocation. This has led to a new wave of AI infrastructure construction overseas, where tech giants are not only investing huge cash flows in building data centers and computing power clusters but are also actively using diversified financial tools such as debt and equity financing to prepare ammunition for a larger-scale AI arms race in the future With the spillover of model capabilities and the continuous decline in costs, AI is accelerating its penetration into end devices. It also looks forward to further enhancing product intelligence capabilities in edge AI and smart robots.

The overall valuation of AI is no longer at a low range

However, Feng Ludan reminds us that we must be clear-headed in recognizing that after a significant rise in the earlier stage, the overall valuation of the AI sector is no longer at a low range, and the valuations of some popular concept stocks even include optimistic expectations for rapid growth in the coming years.

She believes that current investment opportunities coexist with risks. The opportunity lies in the fact that AI technology is in the dawn of accelerated iteration and commercialization, with a very high industry ceiling. However, the risk is that high valuations mean stricter requirements for performance realization, making it more susceptible to fluctuations in market sentiment, liquidity, and macroeconomic changes, which will significantly increase the volatility of the sector. Therefore, she suggests that investors diversify their investments, treating the AI sector as part of their overall asset allocation, striving to enjoy the growth dividends of the AI industry while smoothing the return fluctuations of their investment portfolio through diversification across different industries and asset classes.

Risk warning and disclaimer

The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial conditions, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at one's own risk