According to the Zhitong finance APP, on October 24, the CNI Small Cap.Growth Index Fund managed by Liu Gesong disclosed its third-quarter report for 2024. As of the end of the third quarter, the net asset value of the CNI Small Cap.Growth Index Fund was 6.666 billion yuan, an increase of 0.764 billion yuan from the end of the second quarter's 5.902 billion yuan. In the third quarter, the net asset value growth rate of Class A fund shares of the CNI Small Cap.Growth Index Fund was 19.17%, and that of Class C fund shares was 19.05%, while the benchmark return rate for the same period was 16.22%.

Despite significantly outperforming the benchmark return rate in the third quarter, the CNI Small Cap.Growth Index Fund managed by Liu Gesong still experienced net redemptions of 0.268 billion shares. At the same time, this is also the largest net redemption of shares the fund has faced since the fourth quarter of 2021.

Specifically, the stock position of the CNI Small Cap.Growth Index Fund at the end of the third quarter of 2024 was 93.98%, the highest position since the second quarter of 2022.

The third-quarter report shows that the top ten heavy holdings of the CNI Small Cap.Growth Index Fund are SG Micro Corp (300661.SZ), DeYe Corp (605117.SH), Chongqing Sokon Industry Group Stock (601127.SH), Ginlong Technologies (300763.SZ), EVE Energy Co.,Ltd. (300014.SZ), Western Superconducting Technologies (688122.SH), Flat Glass Group (601865.SH), China Transinfo Technology Corp. (688281.SH), Beijing Yuanliu Hongyuan Electronic Technology (603267.SH), and China Zhenhua (000733.SZ).

In terms of stock changes, new energy technology company Ginlong Technologies, and electronic technology company China Zhenhua entered the list of top ten heavy holdings for the first time, accounting for 7.27% and 4.14% of the fund's net value respectively. Among them, China Zhenhua entered the top ten holdings for the first time. Previously, China Zhenhua and Ginlong Technologies were ranked as the eleventh and twelfth heavy holdings of the CNI Small Cap.Growth Index Fund at the end of the second quarter.

On the other hand, anhui jianghuai automobile group corp.,ltd. (600418.SH) and shanghai pret composites (002324.SZ) exited the top ten holdings in this quarter. In addition, chongqing sokon industry group stock was the only top ten heavy stock Liu Gesong reduced his holdings in the third quarter, with a reduction ratio of 4.44%.

In terms of performance, in the third quarter, the net asset value growth rate of the Guangfa Small Cap.Growth Mix Fund Class A units was 19.17%, while the Class C units net asset value growth rate was 19.05%. The return on investment benchmark for the same period was 16.22%.

In the third quarter report, Liu Gesong pointed out that in the third quarter of 2024, after a rapid rebound following the overall market's downward shock, growth sectors such as gem and star boards significantly outperformed. The market structure showed clear differentiation, with non-banking, media, real estate, and computer sectors showing good performance in recovery and previously oversold industries. Traditional industries such as petroleum, utilities, and coal had weaker gains. At the end of this quarter, changes in policies led to a significant increase in market expectations and risk appetite, holding a positive attitude towards subsequent policy efforts and economic growth targets, and remaining optimistic about the future performance of the capital markets.

Liu Gesong stated that in the third quarter, there were not significant changes in the industry allocation of the Guangfa Small Cap.Growth Mix Fund, maintaining the original configuration levels of globally competitive assets such as semiconductors, photovoltaics and the industry chain, lithium batteries, and electric vehicles, and optimizing individual stocks. With the rapid recovery of market sentiment brought about by the shift in policies, the industry and targeted stock prices in the heavily weighted portfolio also experienced significant rebounds. Will continue to adhere to starting from the industry, finding industries that fit its own framework for long-term investment logic, and sharing the dividends of corporate growth.