中(zhong)證(zheng)網訊（記者 張利(li)靜(jing)）中(zhong)金(jin)(jin)公(gong)司(si)(si)2月8日(ri)發布研(yan)報(bao)稱，中(zhong)國、美國主動股(gu)(gu)票(piao)(piao)(piao)基(ji)金(jin)(jin)行業“頭(tou)部(bu)(bu)化(hua)”現象明顯，美國更為(wei)突(tu)出(chu)。中(zhong)國和(he)美國頭(tou)部(bu)(bu)基(ji)金(jin)(jin)的(de)重倉股(gu)(gu)都更青睞于新經(jing)濟板塊。從數(shu)據看，中(zhong)國主動股(gu)(gu)票(piao)(piao)(piao)（普通股(gu)(gu)票(piao)(piao)(piao)+偏股(gu)(gu)混合）的(de)基(ji)金(jin)(jin)公(gong)司(si)(si)有130多家(jia)，頭(tou)部(bu)(bu)前(qian)三和(he)前(qian)5%的(de)市場份額分別為(wei)22%和(he)41%，而美國的(de)主動股(gu)(gu)票(piao)(piao)(piao)基(ji)金(jin)(jin)公(gong)司(si)(si)超過900家(jia)，頭(tou)部(bu)(bu)前(qian)三和(he)前(qian)5%的(de)市場份額達(da)到(dao)38%和(he)83%。

　　中(zhong)(zhong)金公(gong)(gong)司(si)(si)表示，對比(bi)分析中(zhong)(zhong)國(guo)和美(mei)國(guo)規(gui)模(mo)最(zui)大的20只主動股(gu)(gu)(gu)(gu)票基(ji)金持倉(cang)(cang)情(qing)況，主要存在(zai)以下三維(wei)度差(cha)異(yi)。一是(shi)(shi)從整(zheng)體持股(gu)(gu)(gu)(gu)維(wei)度看，美(mei)國(guo)頭部(bu)(bu)基(ji)金持股(gu)(gu)(gu)(gu)更加分散，平均持有(you)180多只股(gu)(gu)(gu)(gu)票，前(qian)十(shi)大重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)平均合計持股(gu)(gu)(gu)(gu)比(bi)例36%，而(er)中(zhong)(zhong)國(guo)頭部(bu)(bu)基(ji)金平均持股(gu)(gu)(gu)(gu)數量(liang)僅60多只，前(qian)十(shi)大重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)平均合計持股(gu)(gu)(gu)(gu)比(bi)例達64%。二是(shi)(shi)重(zhong)(zhong)(zhong)倉(cang)(cang)持股(gu)(gu)(gu)(gu)維(wei)度上，美(mei)國(guo)頭部(bu)(bu)基(ji)金重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)集中(zhong)(zhong)度更高，前(qian)五家公(gong)(gong)司(si)(si)（Microsoft、Amazon、Facebook、Apple和Alphabet）在(zai)重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)中(zhong)(zhong)占(zhan)比(bi)高達45%，而(er)中(zhong)(zhong)國(guo)前(qian)五家公(gong)(gong)司(si)(si)（貴(gui)州(zhou)茅臺、五糧液、瀘州(zhou)老窖、騰訊控(kong)股(gu)(gu)(gu)(gu)、美(mei)團）在(zai)重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)中(zhong)(zhong)的占(zhan)比(bi)為28%。三是(shi)(shi)從行業(ye)維(wei)度看，中(zhong)(zhong)國(guo)和美(mei)國(guo)頭部(bu)(bu)基(ji)金的重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)都更青睞于新經濟(ji)板塊，新經濟(ji)股(gu)(gu)(gu)(gu)票在(zai)所有(you)重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)中(zhong)(zhong)的占(zhan)比(bi)均超過80%，但在(zai)細(xi)分行業(ye)上存在(zai)差(cha)異(yi)，信息(xi)技術(shu)是(shi)(shi)美(mei)國(guo)頭部(bu)(bu)公(gong)(gong)募重(zhong)(zhong)(zhong)倉(cang)(cang)股(gu)(gu)(gu)(gu)中(zhong)(zhong)的第一大行業(ye)，而(er)中(zhong)(zhong)國(guo)則是(shi)(shi)日常消費。