Over 80% of hybrid funds achieved positive returns in the first four months; Huashang Balanced Growth Hybrid increased by over 61%

China Economic Net Beijing, May 11 (Reporter He Xiao) According to data from Tonghuashun, as of the end of April this year, among 8,774 comparable performance hybrid funds in the entire market (calculated separately for all types of shares), 7,355 funds had net asset values increased, accounting for about 83.8%; 1,413 funds had net asset values decreased, and 6 funds had flat net asset values.

In the first four months of 2026, a total of 2 hybrid funds saw gains exceeding 70%, namely GF Vision Intelligent Selection Hybrid A and GF Vision Intelligent Selection Hybrid C, with increases of 89.55% and 89.26%, respectively. GF Vision Intelligent Selection Hybrid A/C was established on November 22, 2022. As of May 7, 2026, their cumulative net values were 2.0939 yuan and 2.0587 yuan.

According to its first quarter report this year, the fund focuses on high-quality sectors with supply constraints and demand showing “inflationary” growth. As of the end of the first quarter, its top ten holdings were Longfei Optical Fiber, Zhongtian Technology, Hengtong Optoelectronics, Xiechuang Data, Baiwei Storage, Demingli, Yaxiang Integration, Hongjing Technology, Hangdian Shares, and Guoke Micro.

The current fund manager is Tang Xiaobin. Tang Xiaobin previously worked as a researcher at Huatai United Securities Co., Ltd., and held roles including industry researcher, research team leader, assistant to the head of research and development, and investment manager in the equity investment department at GF Fund Management Co., Ltd.

Additionally, 22 hybrid funds gained between 55% and 70%, with Huatai Bairui Quality Growth Hybrid A/C being the largest in scale. As of March 31, 2026, its total scale was 9.14B yuan, with gains of 58.68% and 58.38% in the first four months. Huatai Bairui Quality Growth Hybrid A was established on March 18, 2020, and Huatai Bairui Quality Growth Hybrid C was established on February 19, 2021. As of May 7, 2026, their cumulative net values were 3.0625 yuan and 3.0026 yuan.

According to its first quarter report this year, the fund continued to achieve outstanding absolute and relative returns in the first quarter, with a firm hold on high-quality AI computing power companies reaching new highs. As of the end of the first quarter, its top ten holdings were Xinyi Sheng, Zhongji Xuchuang, Longfei Optical Fiber and Cable, Yuanjie Technology, Tanfeng Communication, Dongshan Precision, Deke Li, Tengjing Technology, Guangku Technology, and Shennan Circuit.

The current fund manager is Chen Wenkai. Chen Wenkai previously worked as an analyst in the research department at CICC. He joined Huatai Bairui Fund Management Co., Ltd. in December 2019, serving as a researcher, senior researcher, and assistant fund manager.

Huashang Balanced Growth Hybrid A/C also has a large scale. As of March 31, 2026, its total scale was 6.94B yuan, with gains of 61.70% and 61.39% in the first four months. The fund was established on April 8, 2021. As of May 7, 2026, its cumulative net values were 3.4306 yuan and 3.3280 yuan.

According to its first quarter report this year, the fund maintained a high position in operations, dynamically optimized holdings within sectors with high domestic and international ARR growth, and sought alpha returns, capturing certainty growth opportunities amid industry transformation. As of the end of the first quarter, its top ten holdings were Longfei Optical Fiber, Xinyi Sheng, Zhongji Xuchuang, Yuanjie Technology, Changguang Huaxin, Yongding Shares, Hengtong Optoelectronics, Tengjing Technology, Dongshan Precision, and Zhongtian Technology.

The current fund manager is Zhang Mingxin. Zhang Mingxin has worked at Nanjing Securities Co., Ltd., Shenwan Hongyuan Securities Co., Ltd., Hu’an Financial and Insurance Asset Management, Shengying Capital Management, Gaozheng (Tianjin) Investment Management, and Yingda Insurance Asset Management. He joined Huashang Fund Management in January 2025.

In addition, Yongying Pioneer Semiconductor Intelligent Selection Hybrid A/C and Huashang Advantage Industry Hybrid A/C both gained between 45% and 55%.

On the downside, Tongtai Huize Hybrid C/A led the decline in the first four months, with drops of 24.02% and 23.93%. The current fund managers are Ma Yi and Mai Jianpei.

(Edited by: Zhang Xiaobo)