CN Mutual Funds Cut Consumer Stocks Sharply in 2Q, Rotate Into AI-Related Shares
Complete. Here is the key summaryMainland China's public mutual funds significantly rotated portfolios in Q2, shifting from consumer stocks to AI-related shares. Major funds like E Fund Blue Chip Selected reduced holdings in Chinese Baijiu giants such as Kweichow Moutai and Wuliangye, cutting their combined weighting from 30% to 13%. Conversely, they increased positions in AI sectors, adding stakes in companies like SMIC, Dongshan Precision, Zhongji Innolight, and Piotech.
Mainland China's public mutual funds made significant portfolio adjustments in 2Q, shifting from consumer stocks to AI-related shares, according to statistics.
The latest quarterly reports disclosed that E Fund Blue Chip Selected Mixed Fund, one of the largest actively managed funds in mainland China, reduced the combined weighting of Chinese Baijiu stocks including KWEICHOW MOUTAI (600519.SH) -8.500 (-0.651%) , WULIANGYE (000858.SZ) -0.370 (-0.495%) and LZLJ (000568.SZ) -1.920 (-2.212%) , which it had held for a long period, from 30% at the end of March to 13% at the end of June, while adding positions in AI-related shares such as SMIC (688981.SH) -8.790 (-5.649%) and DONGSHAN PRECISION (002384.SZ) -9.600 (-4.414%) .
Meanwhile, IGW Core Competence Mixed Securities Fund also added surging AI concept stocks including ZHONGJI INNOLIGHT (300308.SZ) +20.350 (+1.918%) and PIOTECH (688072.SH) -31.280 (-3.954%) to its top 10 holdings during the last quarter, replacing previous holdings such as KWEICHOW MOUTAI and HAID GP (002311.SZ) +0.310 (+0.639%) .
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