After experiencing a recent wave of volatility, the performance of actively managed equity funds has shown significant differentiation, with some funds performing poorly while a group of products have withstood the volatility and achieved new net asset value highs. Among the funds that have reached new net asset value highs in the past month, the annual return of GF Yujian Zhixuan Hybrid A is the highest, reaching 78.30%. The fund manager of this product, Tang Xiaobin, accurately positioned storage and semiconductor equipment in the fourth quarter of last year, hitting two stocks that doubled, Biwstor and Polution. In addition, several products that have recently reached new highs in net asset value, such as China Life Anbao Digital Economy Stock Launch A and Huashang Zhiyuan Return Hybrid A, have also achieved annual returns of over 50%. The investment environment in the market this year is complex, and the difficulty of active investment has significantly increased. In addition to the volatile international situation, investments also face multiple challenges such as high previous sector gains. Against this backdrop, some fund managers have adjusted their investment strategies in a timely manner, resulting in impressive performances. Withstanding volatility and reaching new net asset value highs, some products have achieved annual returns as high as 78%. Since March, the A-shares market has become more volatile and the performance of actively managed equity funds has shown significant differentiation. While the market has rebounded recently, some funds that were heavily invested in airline stocks and traditional consumer stocks still have poor performance. However, in the face of market fluctuations, a group of equity funds have withstood the volatility and reached new net asset value highs. Among the funds that have reached new net asset value highs in the past month, the highest return so far this year is GF Yujian Zhixuan Hybrid A. As of April 15th, the year-to-date return of GF Yujian Zhixuan Hybrid A is as high as 78.3012%. The current fund manager of this product is Tang Xiaobin. The impressive performance of this product is mainly due to the accurate positioning of the fund manager Tang Xiaobin in the fourth quarter of 2025 in high-growth sectors such as storage and semiconductor equipment. In addition, in terms of stock selection, Tang Xiaobin's operations have been precise. At the end of the fourth quarter of last year, two of the top ten heavily weighted stocks in the fund, Biwstor and Pologna, have both doubled this year, contributing significantly to the product's gains. China Life Anbao's Digital Economy Stock Launch A and Jinxin Quantitative Selected Hybrid A have also achieved new highs in net asset value recently, with annual returns of 58.08% and 53.30% respectively. In addition, Huashang Zhiyuan Return Hybrid A, managed by Zhang Mingxin, has also shown impressive performance, achieving a 51.09% return so far this year, reaching a new net asset value high on April 14th. It is also worth noting that as of April 15th, another fund managed by Zhang Mingxin, Huashang Advantage Industry Hybrid A, has achieved a near one-year return of 182.77%. In addition to the above-mentioned funds, many products, such as Ping An Technology Select Hybrid A and Huatai Bairui Quality Growth Hybrid A, have not only achieved new highs in net asset value recently but also realized annual returns of over 40%. Among these products, China Life Anbao Fund has the most products, with a total of three, which are China Life Anbao Digital Economy Stock Launch A, China Life Anbao Industry Upgrade Stock Launch A, and China Life Anbao Core Industry Hybrid. The difficulty of active equity investment has increased, and fund managers have quickly adjusted their strategies The investment environment this year is complex, and the difficulty of active investment has increased. The achievements of the above-mentioned funds in achieving impressive returns and reaching new net asset value highs are not easy. Specifically, in addition to the volatile international situation, this year's active equity investment also faces multiple challenges such as high previous sector gains. Zhang Mingxin, general manager of the equity investment department of Huashang Fund and manager of Huashang Balanced Growth Hybrid Fund, pointed out that active equity management faces many challenges in 2026. He pointed out that the application of new technologies represented by self-media and AI in investment continues to deepen, and the market has largely achieved "information equality" and "cognitive equality," significantly increasing the market's efficiency, greatly filling the moat built by the investment research system of institutional investors in the past, and making active alpha difficulty continues to increase. In addition, after the rise of last year, many sectors and stocks have accumulated substantial gains, and some overly high stock price positions have accumulated certain risks. In the context of rapid market changes and increased investment difficulty, some fund managers have quickly adjusted their investment strategies, which is also an important reason for the impressive returns of their products. Taking the fund manager Tan Jiajun of Jinxin Quantitative Selected Hybrid A as an example, the product he manages continues to use the core methodology established in the 2025 annual report: based on a multi-factor quantitative model, deeply integrate the "inflection point" prediction learning module under the framework of "time-space training". However, in response to the market characteristics of the first quarter of 2026 with intensive policy releases and a complex and volatile external environment, Tan Jiajun and his team have made adaptive optimizations to the original model, focusing on adding a real-time weight adjustment mechanism for policy text sentiment in the inflection learning module. In addition, at the data source level, the model has further incorporated geopolitical risk indices and global commodity liquidity indicators to enhance its adaptability to industry rotation patterns under macroeconomic shocks. In addition, some fund managers have chosen to broaden their investment horizons in the face of market changes, further exploring investment opportunities in various niche sectors and continuously optimizing and adjusting their investment directions based on changes in value. Taking Zhang Mingxin as an example, he believes that the investment horizon in 2026 should be broader, not limited to a specific direction. Zhang Mingxin also emphasized, "We will thoroughly evaluate the win rate and odds, evaluate the relationship between stock prices and industry cycle positions, and continuously adjust our positions based on changes in value. In addition to the AI industry chain, we will continue to track investment opportunities in the fields of autonomous driving, solid-state batteries, robotics, innovative drugs, and new consumption." This article was reprinted from CaishLShe, GMTEight editor: Chen Wenfang.