The recent market performance has a prominent feature, that is, the 28 th split is serious, and large-cap stocks have risen, mainly banks, real estate and securities. Most stocks did not rise, and some GEM stocks fell sharply, which was just the opposite of the market in the first half of this year. The previous rises have all fallen, and the long-term decline has begun to rise. Large-cap stocks account for a relatively large market value, so the index is good, but individual stocks are not good and the fund returns are not very good.

The good performance of GF Fund in the first half of the year benefited from the heavy positions of small-cap stocks and GEM stocks. However, these stocks have not performed well recently, and neither have the funds under the natural Guangfa Fund. This is related to the operation of fund managers, but it is impossible for fund managers to adjust the positions of large-cap stocks in a short period of time, because the adjustment of billions of funds must have a process, and fund managers may think that the adjustment of GEM is only temporary and will not be adjusted. We can't arbitrarily think that there is something wrong with the current fund manager. After all, Guangfa was the best performer among big companies in the first half of the year.

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