The performance gap of the fund industry is narrowing, and public funds are focusing on the profit main line of the industry.

With the opening of the investment window in the second half of the year, discussions surrounding the convergence of public fund performance differentiation and the rebalancing of investment strategies continue to heat up. The latest data from Wind shows that the number of funds in the entire market that doubled in performance in the first half of the year has exceeded 200, while the number of funds with a net asset value decline of over 20% in the same period has also exceeded one hundred, resulting in a considerable gap in returns at both ends. The top-performing products on the performance list mostly focus on the layout of the entire AI industry chain, with the highest return rate of actively managed equity funds reaching 183.67% this year, with a focus on computing power, application side, and AI hardware as the main investment directions; actively managed equity funds heavily invested in traditional consumer sectors experienced the largest loss of 34.48% during the same period. The differentiation of the market has widened the performance gap among fund managers and has left investors with uneven experiences in their holdings. Although there are signs of valuation recovery and fundamental improvement in low-valued industries, industry experts judge that the convergence of performance differentiation is likely to be a long-term and slow process. Some fund companies anticipate a gradual easing of the strength and weakness in various sectors, but the phenomenon of structural differentiation may still persist in the long term.