which funds have resisted the decline in the dark moment of the fund?
In the first week of the year of the tiger, the Shanghai index made a good start, but the collapse of track stocks implicated the net worth of many funds. Data show that as of February 11, the net value of 195 public funds fell by more than 20% during the year.
Since 2022, the overall performance of equity funds has been the worst. Among them, the indexes of common stock funds, partial stock hybrid funds and flexible allocation funds fell by 11.62%, 11.46% and 8.03% respectively, ranking lower among all kinds of assets.
Among equity funds, the growth style fund index performed the worst. The data showed that the performance of the index fell sharply by 12% during the year, the balanced style fund index fell by 5% during the year, and the value style fund performed best, falling only slightly by 0.1%.
As of February 11, there were 41 funds with a return of more than 10% this year, of which the latest net value of 11 funds, including Zheshang Hong Kong stock connect China expected high dividend index enhancement a, Huaxia Hang Seng China enterprise high dividend rate ETF, Huatai bairuixin financial real estate, Zhonghai advantage selection and wanjiayihe, broke the historical record. What do these funds rely on to resist the decline? Chinese reporters from securities companies found that anti falling funds can be mainly divided into three categories: equity funds in high allocation and undervalued sectors, emerging REITs, and bulk commodity theme funds betting on crude oil.
equity funds in the high allocation and undervalued sector counter attack
Since this year, there are only 20 equity funds with a return of more than 10%, including 11 index funds and 9 active equity funds. Overall, the high returns of these equity funds are mainly contributed by undervalued sectors such as banking, real estate and coal.
The return of 11 index funds exceeded 10% during the year. According to Shenwan industry data, only 7 of the 31 Shenwan industries rose during the year. The data also showed that the stock index fund index fell 8.19% during the year. It can be seen that the overall performance of index funds this year is poor. Specifically, among the high return index funds, there are four high dividend index funds, two bank and two tourism theme funds. However, from the perspective of heavy stocks, in addition to Fuguo CSI tourism theme ETF and Huaxia CSI tourism theme ETF, the high returns of the other nine index funds mainly benefited from the rebound of undervalued sectors such as banking, real estate and coal.
Nine active equity funds returned more than 10% during the year. Wanjia macro timing Multi Strategy, Wanjia Xinli and Wanjia selection managed by Wanjia fund manager Huang Hai have yielded 14.73%, 14.14% and 13.39% respectively since this year, temporarily ranking in the forefront of the performance of active equity funds. Huatai Bairui new financial real estate, China shipping advantage selection, CAITONG smart growth a, SDIC ruiyin Hong Kong stock connect will be opened in six months, and wanjiayi and CAITONG technology innovation a have all achieved returns of more than 10% since this year.
From the perspective of the heavy position stocks of the above funds, they are mostly concentrated in the undervalued sectors such as real estate, finance and coal. For example, the ten heavy position stocks selected by Wanjia macro timing Multi Strategy, Wanjia Xinli and Wanjia are concentrated in the real estate and coal sectors, the ten heavy position stocks of Huatai bairuixin financial real estate are concentrated in the finance and real estate sectors, and the ten heavy position stocks selected by CNOOC advantage are concentrated in banks Property and steel.
SDIC ruiyin Hong Kong stock connect decided to open the top ten heavy positions in six months. The industry configuration is relatively scattered. Tencent holdings, Hong Kong stock exchange, China Merchants Bank Co.Ltd(600036) , stone Pharmaceutical Group and Ping An Insurance (Group) Company Of China Ltd(601318) account for more than 5% of the net value, but the excess performance of its net value is mainly contributed by undervalued sectors such as China Resources Land, Ping An Insurance (Group) Company Of China Ltd(601318) and China Merchants Bank Co.Ltd(600036) . According to the four seasons report, SDIC ruiyin Hong Kong stock connect was set to open in six months, and increased its holdings in finance, essential consumer goods, real estate, science and technology and other sectors at the end of last year.
Hang Seng Qianhai fund Jiang Junchen said that it is expected that the transmission of the “stable growth” policy will continue throughout the first quarter. In the first quarter, it is still recommended to focus on some undervalued industries related to the “stable growth” policy. Industries that may be supported by policies after being affected by the downward pressure of the economy, such as consumption and financial industries, also deserve attention.
performance list of commodity theme funds during the year
Benefiting from the continuous strength of commodities, 4 commodity funds and 11 QDII funds betting on commodities such as crude oil performed well at the beginning of the year.
Since February, international oil prices have continued to soar. WTI oil prices and Brent oil prices have reached a new high of nearly seven years, both standing at the $90 / barrel level. Oil and gas theme QDII has become the best performing fund in the whole market. According to the data, the returns of 11 related funds such as GF Dow Jones American Petroleum a yuan, noan oil and gas energy, harvest crude oil, e-fonda crude oil a yuan and southern crude oil a exceeded 10% during the year, dominating the performance list of funds during the year.
The four commodity funds are Jianxin Yisheng Zhengshang energy and chemical futures ETF and the corresponding feeder fund, Huaxia feed soybean meal futures ETF and the corresponding feeder fund.
Soybean meal futures have soared recently, and the ETF of Huaxia feed soybean meal futures and the corresponding feeder fund have soared continuously, with a return of nearly 20% during the year.
sketches that have been on the market for less than one year welcome the outbreak
REITs, which were just listed and traded last year, performed well. As of February 11, six infrastructure public offering REITs have returned more than 10% this year.
Rich countries first created water REIT and red earth innovation Shenzhen Yan Tian Port Holdings Co.Ltd(000088) warehousing logistics REIT over 30% of the year’s return. The China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) Industrial Park REIT, Jianxin Beijing Centergate Technologies (Holding) Co.Ltd(000931) Industrial Park REIT and Huaan Zhangjiang Everbright Garden return over 20% in the REIT year. As one of the few closed-end funds in China, public infrastructure REITs was listed in June last year. At the beginning of listing, it was popular with investors. The price of the secondary market continued to rise. Fund companies frequently issued risk warning announcements and failed to cool down the REITs market. The popularity continues to this day.
CCB Fund said that the essence of China’s infrastructure public offering REITs is the asset securitization of infrastructure, which has the attribute of stock and debt. The debt is reflected in the stable high proportion of dividends every year, and the equity is reflected in the change of floor price. The secondary market price of public offering REITs generally rose during the year, which was mainly affected by the recent favorable policies of the industry and the continuous strengthening of the large infrastructure sector. This is also the embodiment of the stock characteristics of public offering REITs.
Wang Qiaochu, the fund manager of Boshi fund, believes that the general rise of public REITs is related to the fact that the first and second batches of assets are very high-quality, but the circulation share is small, and the market is in short supply. In addition, the A-share market has been continuously adjusted recently, and investors are more inclined to allocate some products with stable income.
Since the beginning of this year, three public REITs for infrastructure have been temporarily suspended due to excessive growth, and have issued premium risk tips for many times. Wang Qiaochu pointed out that the REITs market is still in the pilot stage, and Chinese investors’ understanding of REITs products is not yet fully mature. He called on investors to uphold the concept of long-term value investment, jointly take care of the growth of REITs market and witness the development and growth of REITs market.
Wang Qiaochu also reminded investors that with the expansion of the public REITs market, the scarcity of relevant products will decline in the future, and the premium space given by funds to such products may be reduced.
