[Global Financial Comprehensive Report] On August 30, well-known fund manager Zhang Kun disclosed the four funds under management - E Fund Blue Chip Select, E Fund Premium Select, E Fund Premium Enterprise Three-Year Holding, and E Fund Asia Select 2024 In the interim report, its

[Global Financial Comprehensive Report] On August 30, the well-known fund manager Zhang Kun disclosed the four funds under management - E Fund Blue Chip Select, E Fund Premium Select, E Fund Premium Enterprise Three-Year Holding, and E Fund Asia Select 2024 In the mid-year report, its hidden heavyweight stocks (ranked 11th to 20th) were exposed.

As of the end of the first half of the year, Zhang Kun's fund management scale was approximately 61.681 billion yuan. Compared with 64.732 billion yuan at the end of the first quarter, his fund management scale shrank by approximately 3.051 billion yuan, a decrease of 4.71%. Among them, the largest product is E Fund Blue Chip Select, with a net asset value of 39.036 billion yuan at the end of the second quarter.

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Since the top ten stocks with heavy holdings have been disclosed in the second quarter report of 2024, the focus of this interim report falls on the disclosed invisible heavy holdings of stocks. The latest invisible heavyweight stocks selected by E Fund Blue Chip are Yili Co., Ltd., Yum China, Juzi Biotech, Focus Media, Mindray Medical, Yuyue Medical, China World Trade Center, l'Occitane, Oppein Home Furnishing, and Li Ning.

Compared with the end of last year, Yili, Focus Media, Mindray Medical, Yuyue Medical, China World Trade Center, and Oppein Home Furnishing are new stocks. In addition, Zhang Kun increased his holdings of Yum China, Juzi Biotech and l'occitane to varying degrees in the first half of 2024; while Li Ning was significantly reduced, with a decrease of 60.47% compared to the end of 2023.

In addition, Zhang Kun's other masterpiece - E Fund High Quality Selection, with a scale of 13.615 billion yuan at the end of the second quarter, a hidden heavy position compared with E Fund Blue Chip Selection, among the new stocks, except for Oppein Home Furnishing, it is not among the ranks, and was replaced by Samsonite, everything else is the same.

Moreover, the E Fund high-quality enterprise managed by Zhang Kun has also seen a number of changes in its invisible heavyweight stocks during its three-year holding period. Compared with the end of last year, among the hidden heavyweight stocks, Yum China, Juzi Biotech, and Shanxi Fenjiu all increased their positions, increasing their holdings by 123.08%, 52%, and 24.99% respectively. New entrants include l'occitane, Focus Media, Mindray Medical, and Shenjiu. Continental International, asmpt, Chuangke Industrial, Nova Nebula.

As the smallest fund among the funds managed by Zhang Kun, the new stocks selected by E Fund Asia in the first half of 2024 include Applied Materials Inc., Juzi Biotech, and ASE Technolog y Holding Co., Ltd. co ltd) etc.

Zhang Kun said in the interim report, “With insufficient demand, more and more industries have experienced intensified competition and declining overall profitability. The difficulties faced by some companies are just like wanting to watch a grand When performing along the street, you have to stand on tiptoes, and soon everyone else is also standing on tiptoes. Although you are almost cramped from exhaustion, it is still difficult to see the performance you want to see."

Zhang Kun said frankly that people tend to be more inclined to stand on tiptoes. Advocate for the complex and disdain the obvious as too simple. It is better to invest in a company that has a single success factor that is simple and sustainable than to invest in a company that is complicated and difficult to understand with many competing variables, even if the latter has undergone rigorous and in-depth analysis. It’s hard to say which one is better or worse in return. Looking back at the judgments I have made in history, it is easier to make mistakes when trying to cross a "seven-foot-high hurdle" than when trying to cross a "one-foot-high hurdle."