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Multiple Tech-Focused Funds Ease Purchase Limits, Daily Cap Raised from 10,000 to 500,000 Yuan
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Several actively managed equity funds focused on the technology sector have significantly relaxed or removed large-purchase restrictions since July, according to a Securities Daily report. E Fund Management raised the daily subscription limit for two of its tech funds managed by Zheng Xi from 10,000 yuan to 500,000 yuan. Other funds, including Huashan Advantage Industry Hybrid and Caitong Growth Preferred Hybrid, have also lifted or increased their purchase caps. Qianhai Open Source Fund's chief economist Yang Delong explained that funds had previously tightened limits to protect holders from volatility during capital inflows, but are now easing as the tech sector has experienced a notable correction, suggesting the adjustment may be nearing completion. Looking ahead, multiple institutions remain bullish on AI. Minsheng Jiayin Fund's research team sees technology as the main investment theme, with AI demand driving improvements in TMT earnings. Morgan Stanley Fund's Ma Zixuan argued that AI investment is entering a second phase, shifting from model and compute investment to identifying companies that can convert AI capabilities into revenue and profit, highlighting agent commercialization, domestic model iteration, and AI revenue contributions from software and content firms as key tracking directions.
Source report
Funds managed by E Fund and other asset managers have significantly raised or removed daily subscription limits, signaling a shift in stance toward the technology sector.
E Fund Management Co., Ltd. has announced that daily subscription limits for its E Fund Information Industry Select Equity Fund and E Fund Information Industry Hybrid Fund have been raised to no more than 500,000 yuan (inclusive) per single fund account across all sales channels for A-share or C-share classes. This applies to subscriptions, regular fixed investments, and conversion transfers.
Just three months ago, the daily subscription cap for both funds was set at 10,000 yuan.
Key Details
- Fund managers: Both funds are managed by Zheng Xi.
- Portfolio positioning (as of mid-2026): The funds maintained high equity exposure in the first half of 2026, with a core focus on growth-oriented investments in the information technology sector.
- Recent adjustments: The funds increased allocations to AI computing power and semiconductor sectors, while reducing exposure to software and consumer electronics.
- Top holdings (common to both funds): Xin Yi Sheng, Zhongji Innolight, Sanhuan Group, Shengyi Technology, and Yuanjie Technology.
Broader Industry Trend
Since July, several actively managed equity funds targeting the technology sector have raised or removed large-sum subscription limits:
| Fund | Action Taken | |------|--------------| | Huashang Advantage Industry Hybrid | Resumed large-sum subscriptions, conversions, and regular fixed investments from July 21 | | Huashan Balanced Growth Hybrid | Raised daily subscription cap from 1,000 yuan (late June) to 100,000 yuan, then to 2 million yuan in July | | Caitong Growth Preferred Hybrid | Removed all subscription, regular investment, and conversion limits from July 22 |
Expert Commentary
Yang Delong, Chief Economist and Fund Manager at Qianhai Open Source Fund, told Securities Daily:
"Previously, some actively managed equity funds tightened or suspended large subscriptions to protect existing holders from volatility caused by concentrated capital inflows. Now, with significant corrections in the tech sector and valuations retreating, related products are easing subscription restrictions. This operational rhythm also reflects public fund managers' assessment that the market adjustment has entered a relatively sufficient phase."
Outlook
Multiple industry professionals remain optimistic about AI-related investment opportunities:
- Minsheng Royal Fund Investment Research Team: "Technology remains the core focus for equity investment. Overseas cloud capital expenditure continues to rise. AI demand is being transmitted upstream through servers, storage, optical modules, PCBs (printed circuit boards), and advanced packaging, driving significant mid-year earnings improvements across the TMT (Technology, Media, Telecom) sector."
- Ma Zixuan, Research Management Department, Morgan Stanley Fund Management: "AI is moving from 'being able to answer' to 'being able to work,' and the value of applications is being reassessed. AI investment is entering its second phase. The first phase focused on 'stronger models and more computing power.' The second phase will seek 'who can turn cheaper, smarter intelligence into real revenue and profits.' In the coming period, Agent commercialization, domestic model iteration, and AI revenue contributions from software and content companies may become the most trackable directions for the computer and media sectors."
Source: Securities Daily Original title: Multiple Tech-Focused Funds Ease Purchase Restrictions Editor: 156
Source
东方财富Eastern
Part of this Story
Chinese Tech Funds Lift Purchase Caps After Sector Correction, Signaling Confidence