摘要
瀚亞亞洲科技資本家股票基金(本基金配息來源可能為本金) 投資策略從整體科技生態系出發，抓住從上游半導體、中游硬體製造，到下游應用與服務的完整價值鏈，捕捉AI擴散的多元受惠族群。
在 AI 供應鏈帶動下，亞股今年交出亮眼成績，甚至推進台灣及南韓股票市值直奔全球第五及第六大，許多投資人就怕跟不上、感到FOMO（Fear Of Missing Out錯失恐懼）。根據道瓊截至2026/6/1數據，南韓股市自今年初全球市值第11大市場前進至第6大，台灣股市更從第9大市場上升至第5，如今在AI科技及投資人簇擁下大舉躍升，顯示全球科技產業的重心正逐步向亞洲傾斜。
資料來源與統計時間：彭博，統計至2026/6/01。
亞洲科技股地位轉變 AI供應鏈成投資熱點
回顧本波科技股行情，已從過去的週期反彈，轉為結構性成長推動。台灣與南韓企業在半導體、記憶體與關鍵零組件領域的長期布局，使其在AI浪潮中扮演不可或缺的角色。從先進晶圓製程、封裝測試，到高速運算與電源、散熱等關鍵元件，亞洲供應鏈已形成高門檻、難以取代的競爭優勢。
值得注意的是，亞洲科技股的角色正在轉變。從過去跟隨美股科技波動，逐步走向獨立表現，甚至出現超額報酬。反映出當AI從模型競爭走向算力與基礎建設競爭時，亞洲企業的戰略地位自然上升。
聚焦產業結構 投資需掌握價值鏈全貌
投資人若要掌握AI長線機會，關鍵在於是否能「穿透產業結構」，而非只集中單一龍頭。以瀚亞亞洲科技資本家股票基金（本基金配息來源可能為本金）為例，其投資策略正是從整體科技生態系出發，鎖定從上游半導體、中游硬體製造，到下游應用與服務的完整價值鏈，捕捉AI擴散的多元受惠族群。
根據理柏統計，截至2026年5月底止，該檔基金短中長期績效皆在同類型基金的前茅。其團隊實際投資流程採取「自上而下結合自下而上」的雙軌架構。一方面，先從AI、電動車、數位轉型等長期趨勢出發，篩選具成長潛力的產業主題；另一方面，再透過基本面分析，檢視企業競爭力、獲利能力與估值合理性，確保投資標的具備可持續成長動能。
結合趨勢與基本面的投資模式，有助於避免過度集中單一熱門標的，同時也能掌握潛在的「隱形受惠者」，例如供應鏈中較不被市場關注，但實際受益於AI成長的關鍵零組件企業。
表：瀚亞亞洲科技資本家股票基金(本基金配息來源可能為本金)績效
資料來源與統計時間：理柏，統計至2026/5/31。註：理柏區域股票型-亞洲分類，主級別原幣計價。
亞洲優勢浮現 成長與評價兼具
瀚亞亞洲科技資本家股票基金（本基金配息來源可能為本金）經理人林元平表示，亞洲是全球AI供應鏈的核心支柱，從晶片製造、記憶體到伺服器組裝，皆由亞洲企業主導；其次，相較美國科技股，亞洲科技公司普遍具有更高的盈餘成長潛力與相對合理的評價水準，具備中長期重估空間。
市場觀察，亞洲科技產業仍處於成長初期階段。AI基礎建設尚未完成，資料中心建置、伺服器升級與相關設備需求仍在快速擴張，帶動整體供應鏈持續成長。此外，亞洲龐大的工程師人才庫與具競爭力的成本結構，也讓企業在研發與製造上具備長期優勢。
短期雜音不改長期趨勢
儘管市場仍存在短期不確定性，可能影響投資信心與估值表現。然而從需求面來看，AI發展方向已相當明確，相關資本支出仍處於上升週期，對亞洲科技企業形成長期支撐。
整體而言，亞洲科技股的崛起並非短期現象，而是全球產業結構變化的自然結果。在AI時代，價值不再只集中於軟體與平台，而是重新分配至整體供應鏈。台灣與南韓之所以強勢，正因其掌握了最關鍵的技術與製造能力。
對投資人而言，這代表的不只是區域配置的調整，而是一種投資思維的轉變——從「追逐明星企業」，轉為「理解產業結構」。唯有掌握這一點，才能真正參與這場由亞洲主導的新一輪科技成長浪潮。
表：瀚亞看好亞洲科技投資四大關鍵
資料來源：瀚亞投信，2026/05
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