Understand this story
Zhang Kun's only solely managed product, E Fund Asia Select, had scale of 3.69 billion yuan at the end of the third quarter. Among its top ten holdings, five global AI semiconductor stocks—TSMC, SK Hynix, Samsung Electronics, ASML, and KLA—account for half. The product's asset allocations to the United States, Hong Kong (China), South Korea, and Taiwan (China) were 33.4%, 30.72%, 21.68%, and 8.65%, respectively, with holdings in the United States, South Korea, and Taiwan (China) all increasing in tandem. Zhang Kun believes the third-quarter tech correction stemmed from large gains in the first half, peripheral leverage compression, and the medium- to long-term contradiction between AI capital investment and returns, and he remains optimistic about some reasonably valued U.S. AI companies in the fourth quarter.
AI-generated from public reports
Developments
1 confirmed developments
Reports and discussion timeline
Browse reports and discussion by time. Their evidence levels remain distinct.
Oct 28
36Kr · AI
Zhang Kun Solely Manages E Fund Asia Select Q3 Report: Half of Top Ten Holdings Bet on Global AI Semiconductors
Zhang Kun's only solely managed product, E Fund Asia Select, had scale of 3.69 billion yuan at the end of Q3. Among its top ten holdings, five global AI semiconductor stocks—TSMC, SK Hynix, Samsung Electronics, ASML, and KLA—account for half. The product's asset proportions in the US, Hong Kong China, South Korea, and Taiwan China are 33.4%, 30.72%, 21.68%, and 8.65%, respectively, with holdings proportions in the US, South Korea, and Taiwan China rising simultaneously. Zhang Kun believes the Q3 tech correction stemmed from large gains in the first half, peripheral leverage squeeze, and the medium- to long-term contradiction between AI capital investment and returns; in Q4 he remains optimistic about some US AI companies with reasonable valuations.