OpenAI held a "Spring Renewal" event in the early morning of May 14, Beijing time. Mira Murati, the company's chief technology officer, unveiled a number of ChatGPT-related updates. Among them, the newly released GPT-4o multimodal model is faster and cheaper than GPT-4 Trubo. It is reported that ChatGPT free users can also have the opportunity to experience GPT-4o, but when the limit is reached, ChatGPT will automatically switch to GPT-3Edgingroulette. 5 .
Boosted by the explosion of "GPT-4o", overseas disruptive innovation was sought after by investors, and ARK funds that focused on overseas technological disruptive innovation generally closed higher, with ARKK closing up nearly 3 per cent overnight and closing more than 1 per cent higher. In today's A-share market, overseas Technology LOF (501312), a popular QDII fund for "investing in overseas subversive technology", rose more than 1% after opening!
Zhao Qiyuan, manager of overseas science and technology LOF fund, said in a recent media interview that he suggested focusing on medium-and long-term value and seizing the opportunity of overseas science and technology wave. Us technology stocks rebounded sharply last year, benefiting from improved fundamentals, while the Fed is expected to cut interest rates this year, which will be good for US technology stocks. At the same time, the popularity of ChatGPT has led to the expansion of the AI industrial chain, which contains more investment opportunities.
Zhao Qiyuan said that the Fed kept raising interest rates from 2021 to 2022 because of the rapid rise in US inflation, which suppressed the valuations of US technology stocks. But based on the moment, the Fed announced the end of the rate-raising cycle in December. In March, the Fed kept the federal funds rate unchanged between 5.25% and 5.5%, so market expectations for a Fed rate cut this year are strong.
On the whole, the US market may still be a macro year this year, and it is necessary to closely track the changes in the US economic situation and conduct in-depth research and tracking of key stocks in order to obtain excess returns. In the medium to long term, we are optimistic about the performance of American technology giants in the AI wave, as well as other small and medium-sized enterprises that have benefited from the AI revolution.
According to the quarterly report of the fund, as of 2024.3.31, the overseas science and technology LOF (501312) position fund includes five ARK series ETF, accounting for more than 73% of the fund's net asset value, mainly invested in the new generation Internet, subversive innovation, genetic innovation, financial technology and other cutting-edge science and technology fields. The other three went to Nasdaq 100, US semiconductor leaders and other technology stocks. It is worth mentioning that the ARK (Ark) series of funds are owned by Cathie Wood, a well-known investor on Wall Street.
NoteEdgingrouletteThe position data are from the first quarterly report of Huabao overseas Technology QDII- LOF 2024. The top ten heavy position stocks / funds at the end of each quarter shown in the periodic report are only held on the day at the end of the quarter, which does not mean that the fund will always hold in each full quarter, nor does it mean that it will continue to hold in the future. The above positions are for indicative purposes only and are not used as investment advice.
Source: periodic report of the Fund, Wind, as of May 14, 2024.
Risk Tips:
Any information that appears in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only and the investor is responsible for any discretionary investment behavior. In addition, any point of view, analysis and forecast in this article do not constitute any form of investment advice to the reader, and this article does not represent the investment strategy of the company's management products, nor is it responsible for any direct or indirect losses arising from the use of this content. The investment of the fund is risky, and the past performance of the fund does not represent its future performance, so the investment should be cautious.
Warburg overseas Technology QDII-LOF (Class A: 501312 Category C: 017204) is issued and managed by Warburg Fund, and the consignment agency does not bear the responsibility of product investment, payment and risk management. Investors should carefully read the fund legal documents such as the fund contract, the prospectus and the summary of fund product data, understand the risk-return characteristics of the fund, and choose products suitable for their own risk tolerance. The risk rating of overseas technology LOF by fund managers is R4-medium and high risk, which is suitable for active (C4) and above investors. The performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. The past performance of the fund does not predict its future performance, the fund investment should be cautious! Sales institutions (including fund managers, direct selling institutions and other sales institutions) conduct risk assessment of the fund in accordance with relevant laws and regulations, investors should pay attention to the appropriateness opinions issued by the fund managers in a timely manner, the opinions of all sales institutions on appropriateness are not necessarily the same, and the risk grade evaluation results of fund products issued by fund sales institutions shall not be lower than those made by fund managers. In the fund contract, the characteristics of risk and return of the fund and the risk grade of the fund are different due to different factors to be considered. Investors should understand the risk and return of the fund, and carefully choose the fund products and bear the risk according to their own investment purpose, term, investment experience and risk bearing capacity. The registration of the Fund by the CSRC does not mean that it makes a substantial judgment or guarantee on the investment value, market prospects and income of the Fund.
