The third-quarter reports of A-share listed companies and funds have now been released, shedding light on the portfolio adjustments made by several well-known fund managers. During the third quarter, the Huashang Balanced Growth fund, under the management of Zhang Mingxin, trimmed its holding in Guanghua Technology. Similarly, the Huatai-PineBridge Quality Growth fund, led by Chen Wenkai, reduced its stake in China Jushi. Additionally, the Gaoyi Linshan No.1 Forward-Looking Fund, helmed by Feng Liu, decreased its position in Hikvision.
Simultaneously, fund managers are also on the lookout for fresh investment prospects. For example, the E Fund Blue Chip Selected fund, managed by Zhang Kun, boosted its stake in Chuantou Energy. Meanwhile, the Morgan Emerging Growth fund, under the stewardship of Du Meng, newly acquired shares in Jintian Copper.
Some fund managers are of the opinion that the valuation of the AI sector within A-shares has already fully factored in the constraints imposed by global liquidity and risk appetite. They argue that this makes the sector more cost-effective when compared to similar overseas assets. Nevertheless, they still advise caution, highlighting the potential risks associated with corrections in high-valuation tech assets overseas, fluctuations in global liquidity, and geopolitical factors.