Public Fund Active Allocation: Full of Confidence
Since the A-share market reached 924 points last year, market confidence has gradually strengthened, especially in areas such as AI new technology, military technology, and innovative pharmaceuticals in early 2025. Mid-term pessimistic expectations have been systematically reversed, with the active fund position rising to 84.25%, increasing holdings in broad technology and large finance. In the transition between old and new growth drivers, Hong Kong stocks have become new core assets, and going overseas has become key to A-share growth. In Q2 2025, public active funds continued to increase their allocation in areas such as AI, technology, and new consumption, with Hong Kong stock holdings accounting for nearly 20%
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