Consumer sector expected to continue recovering Fund managers are keeping an eye on investment opportunities.

With the intensification of consumption promotion policies in various regions and the approaching of the "May Day" holiday, the offline consumption market continues to heat up. A wave of "consumption fever" has been set off in the A-share market, with some consumption-themed funds showing active performance, adding a bright spot to the market situation. According to Wind Information data, as of April 25, the average net asset value growth rate of 242 consumption-themed funds in the entire market this year reached 2.6%, indicating signs of recovery and supporting the recent institutional speculation on the consumption recovery theme. Specifically, of the 242 consumption-themed funds mentioned above, 155 products have seen an increase in net asset value, accounting for over 60%, with 34 funds having a net asset value growth rate of over 10% this year. Based on structural opportunities in the consumption sector, public funds are increasing their layout efforts. Research by the Open Source Securities Financial Engineering team led by Wei Jianrong shows that in the first quarter of 2025, actively managed equity funds increased their holdings in the consumption sector, with the proportion of heavy consumption stock holdings in actively managed equity funds reaching 26.10%, an increase of 1.68% from the previous quarter. Several top-performing fund managers have indicated that the valuation of the consumption sector, which has undergone a deep adjustment over the past four years, is relatively low. With the full release of market sentiment and a return to focusing on fundamentals, it is expected to usher in a sustained uptrend.