With the recent disclosure of the four seasons report of public funds, the seating and position changes of heavy positions of securities companies’ asset management collection public offering transformation products have also surfaced.
According to the data of , by the end of the fourth quarter of 2021, Kweichow Moutai Co.Ltd(600519) , China stock market news and Contemporary Amperex Technology Co.Limited(300750) ranked among the top three in the position of public offering and transformation products of large collection; In terms of changes in the number of shares held, Chengtun Mining Group Co.Ltd(600711) , China Three Gorges Renewables (Group) Co.Ltd(600905) and China Industrial Securities Co.Ltd(601377) were greatly increased by the asset management of securities companies.
From the perspective of future research and judgment, many fund managers are optimistic about the repair space of undervalued industries at the same time, and it is expected that the market will remain volatile in the first quarter of 2022, and structural opportunities will still be the main source of excess returns.
Kweichow Moutai Co.Ltd(600519) became the number one heavy position stock
According to statistics, in the fourth quarter of 2021, Kweichow Moutai Co.Ltd(600519) , China stock market news, Contemporary Amperex Technology Co.Limited(300750) , Geely Automobile, Longi Green Energy Technology Co.Ltd(601012) , Ping An Bank Co.Ltd(000001) , China Merchants Bank Co.Ltd(600036) , Avic Jonhon Optronic Technology Co.Ltd(002179) , Xiaomi group-w and Goertek Inc(002241) ranked the top 10 in the shareholding market value of Securities Dealers’ large collection public offering transformation products. Specifically, the holding industry involves daily consumption, finance, industry, optional consumption, information technology and other sectors. The total market value of Kweichow Moutai Co.Ltd(600519) and China stock market news is more than 2 billion yuan.
Among the top 10 stocks in the market value, China Merchants Bank Co.Ltd(600036) and Xiaomi group-w increased significantly in the number of Asset Management Holdings of securities companies in the fourth quarter, increased by 10.0992 million shares and 22.5652 million shares respectively. In addition, Kweichow Moutai Co.Ltd(600519) was jointly held by 28 products managed by 13 securities companies in the fourth quarter.
From the market trend, the market performance of heavy position stocks showed differentiation in the fourth quarter. Among them, Goertek Inc(002241) , Avic Jonhon Optronic Technology Co.Ltd(002179) , Kweichow Moutai Co.Ltd(600519) , Contemporary Amperex Technology Co.Limited(300750) increased by 25.25%, 22.57%, 12.02% and 11.84% respectively in the fourth quarter; In contrast, stocks such as Xiaomi group – W and Ping An Bank Co.Ltd(000001) performed poorly, falling 11.48% and 8.09% respectively in the fourth quarter.
Chengtun Mining Group Co.Ltd(600711) , China Three Gorges Renewables (Group) Co.Ltd(600905) obtained a substantial increase in Holdings
Looking back on the fourth quarter, which stocks obtained a substantial increase in public offering transformation products?
According to the data, among the public offering and transformation products of the large collection of securities dealers in the fourth quarter, Chengtun Mining Group Co.Ltd(600711) new holdings ranked among the top. Among them, ” Citic Securities Company Limited(600030) excellent growth holds a for two years” invested a total of 56.7886 million shares in the company, with a market value of 609 million yuan.
At the same time, the product also increased the holdings of Tebu international, Sailun Group Co.Ltd(601058) and Xiaomi group-w. the cumulative holdings in the fourth quarter were 28.675 million shares, 24.1065 million shares and 42.84 million shares respectively, and the market value of positions was 305 million yuan, 357 million yuan and 661 million yuan respectively. In the fourth quarter of this year, Tebu International’s share price rose 19.27% and Sailun Group Co.Ltd(601058) share price rose 29.06%.
” Citic Securities Company Limited(600030) dividend value held a year” invested 50814700 shares and 17785700 shares in China Three Gorges Renewables (Group) Co.Ltd(600905) and Centre Testing International Group Co.Ltd(300012) respectively in the fourth quarter, with a market value of 382 million yuan and 478 million yuan. In the fourth quarter of this year, China Three Gorges Renewables (Group) Co.Ltd(600905) and Centre Testing International Group Co.Ltd(300012) share prices rose by 2.47% and 6.00% respectively.
Guangfa asset management’s public offering transformation product “Guangfa asset management balanced selection, holding a for one year” invested in Bros Eastern Co.Ltd(601339) 19100700 shares, with a market value of 113 million yuan; Invested in Postal Savings Bank Of China Co.Ltd(601658) 12428000 shares, with a market value of 56 million yuan. Bros Eastern Co.Ltd(601339) and Postal Savings Bank Of China Co.Ltd(601658) rose by 8.87% and 1.67% respectively in the fourth quarter.
“Guangfa asset management Qianli holds a” one year and invests in Bros Eastern Co.Ltd(601339) 9712300 shares, with a market value of 57 million yuan; The “Guangfa asset management consumption selection” product invested in 1.7126 million shares of Xiaomi group-w, with a market value of 26 million yuan.
In addition, “Guojun asset management jundexin held a for two years” invested in China Industrial Securities Co.Ltd(601377) and Enn Natural Gas Co.Ltd(600803) 30335800 shares and 13152100 shares respectively in the fourth quarter, with a market value of 300 million yuan and 241 million yuan; In terms of Haitong asset management, “Haitong core advantage a” invested 2.0751 million shares in Xiaomi group-w in the fourth quarter, with a market value of 32 million yuan.
low probability of systemic risk
actively looking for structural opportunities
In the fourth quarter of 2021, the market entered the adjustment period again, and there was a switch between prosperity and valuation among different industries again. For the future market performance and investment direction, the fund managers of various products also gave investment research and judgment in the latest quarterly report.
” Citic Securities Company Limited(600030) excellent growth holds a for two years” fund manager Zhang Xiaoliang said that looking forward to 2022, the systematic opportunities and risks of the stock market are not large, but more structural opportunities. In terms of industry, the valuation of food and beverage, household appliances, building materials and other industries is reasonably low, but it is difficult to have a systematic market due to weak domestic demand; The optimistic expectation of the new energy industry has been relatively sufficient, and it is difficult to exceed the expected performance. Pay more attention to upstream resource-based companies such as copper, cobalt and nickel; Relatively speaking, the growth and valuation of military industry and consumer electronics are more attractive.
Zhang Xiaoliang believes that while export drives the prosperity of manufacturing industry, we should also pay attention to the sustainability of high export growth, and we need to find a more sustainable export growth. Retail banking, Internet, medicine and medical treatment, software services and other fields with great long-term potential. At present, the valuation of some high-quality targets is low, which will also be the key direction of configuration.
“In general, the stock selection of A-Shares will be unbiased in the market value of large, medium and small shares, upstream, middle and downstream, traditional and emerging industries, adhere to the GARP strategy, look for targets with high cost performance and make medium and long-term layout. At the bottom of the overall valuation of Hong Kong stocks, select high-quality and significantly undervalued targets, and gradually start to increase allocation.” Zhang Xiaoliang said.
Liu Qiang, the fund manager of “Guojun asset management jundexin holds a for two years”, said that looking forward to the first quarter of 2022, the market is expected to remain in a range of volatile prices, and there should be reverse thinking and reverse operation. For sectors benefiting from steady growth, we need to actively find individual stocks for allocation, including infrastructure / real estate industry chain, optional consumption (home appliances, home appliances, etc.), taking into account the beta elasticity of the industry and the alpha of individual stocks.
Liu Qiang believes that high-quality growth stocks that can cross the cycle will continue to be optimistic and will choose to increase their positions if they callback. Actively looking for growth stocks with weak correlation with the economy, the industry is not limited to military industry, new energy and other sectors with outstanding performance before, but also can continue to spread to computers and media with low growth before, and more individual stocks with matching valuation and performance and sex price ratio can be excavated from bottom to top. In addition, with the accelerated launch of covid-19 specific drugs and the gradual elimination of epidemic concerns, we can pay attention to the investment opportunities of relevant benefits, including aviation, airport, catering and tourism, which can be arranged based on the medium and long-term dimensions. If the safety margin and expected rate of return of individual stocks are appropriate, we can consider intervening in advance and exchanging time for space.
