The latest public offering active investment capability ranking has been released, with Morgan Funds’ long-term performance consistently ranking among the top in the industry.

With 2026 already past the halfway mark, China’s A-share market continues to evolve amid ongoing structural differentiation, and the active management capability of public mutual funds in equity investing has once again stood out. Recently, Guotai Huitong Securities released its latest edition of the 《Fund Companies’ Equity Assets Performance Ranking》, showing that as of end of the first half of 2026, more than 160 public fund companies’ actively managed equity funds achieved average returns of 26.46% for year-to-date and 66.50% for the most recent year, respectively. These figures significantly outperformed the 7.55% gain of the CSI 300 and CSI 500 indexes over the same period (Wind data), demonstrating the profitability of public mutual funds in a complex market environment.

Against the backdrop of differentiated performance across A-share sectors, fund companies’ active management capability has become a focal point for the market. Some long-established fund companies, drawing on years of investment experience, have shown sustained competitiveness across cycles. Taking Morgan Fund as an example, according to Guotai Huitong Securities’ statistics, as of end of the first half of 2026, the company’s absolute return* rankings over the past three years and past ten years were 22/148 and 19/98, respectively, both ranking within the top 1/5** of the industry. Wind data shows that as of end of the first half of the year, Morgan Fund already had 12 “Double Ten Funds” (funds established for 10 years and with annualized returns of over 10% in the past ten years), fully reflecting its excellence in long-term investment management.

From the performance of individual products, in Morgan Fund’s lineup, 9 funds were rated with Guotai Huitong’s five-star rating for both the three-year and five-year periods, including the Morgan Core Growth Fund managed by Li Bo, the Morgan Emerging Momentum Fund managed by Du Meng, and the Morgan Technology Frontier Fund managed by Li Dehui..

In capturing market trends, Morgan Fund relies on forward-looking research to precisely seize structural investment opportunities driven by technological development. Wind data shows that as of end of the first half of 2026, the company had 21 actively managed equity funds whose net asset values more than doubled over the past year.

Looking ahead, Li Bo, manager of the Morgan Core Growth Fund, said that in the second half of 2026, while maintaining attention to the technology sector, the focus will be on undervalued growth stocks. By leveraging low correlation among assets, the aim is to enhance the portfolio’s risk resistance and the stability of returns. He believes that high-quality companies with long-term investment potential exist across areas such as power equipment, TMT, and consumer sub-sectors. For example, in the lithium battery industry chain, demand growth expectations are relatively clear, and a potential inflection point may emerge in the new cycle, with multiple links in the product chain potentially offering investment value. In the consumer electronics sector, as AI technology rapidly penetrates the hardware layer, the industry is in a new round of innovation cycle; valuation of related leading companies may already be at historically low levels, offering potential value for long-term allocation. In addition, against the backdrop of domestic demand expansion policies, investment opportunities in consumer sub-sectors are also worth attention, and the strategy will focus on high-quality targets consistent with the GARP (reasonable valuation growth) investment philosophy, with fundamentals continuing to improve.

*Absolute return refers to the net value growth rate of actively managed funds managed by the fund company, calculated as the net value growth rate weighted by the asset size of the management period. The asset size for the management period is calculated as a simple average based on the available period size.

**Over the past 3/10 years, equity funds’ absolute return rates were 90.61% and .233.20%, respectively; the number of fund companies participating was 148 and 98, respectively. The 9 equity funds that received Guotai Huitong five-star ratings for both the three-year and five-year periods include: Morgan Technology Frontier A, Morgan Emerging Momentum A, Morgan Select 30 A, Morgan Alpha A, Morgan Vision Two-Year Holding, Morgan Hui Jian Two-Year Holding, Morgan China Advantage A, Morgan Excellent Manufacturing A, and Morgan Core Growth A. The report was released on April 30, 2026 and reflects star ratings as of 2026.4.24.

(Editor: Xu Nannan)

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