As its funds were “delisted” from the weekly sales list of a platform, Glenn once again became the focus of the market. Although the platform responded that this is “the objective data of weekly investors’ subscription”, there is no doubt that the former “goddess of medicine” has been farther and farther away from the “altar”.
Perhaps it is the “Empathy” of institutional investors, and there are more and more institutional people who “speak out” for Glenn.
A person in charge of investment in a financial subsidiary told the associated press that the loss of Gelan products is the “pot” of the pharmaceutical industry. After all, the pharmaceutical sector rose sharply in 2019 and 2020 and was overvalued. It is normal that it has continued to fall since 2021. In this market, no fund manager can be alone.
In addition, Glenn’s funds have attracted much attention because of their large scale. In particular, different from the Growth Logic of other funds, in the falling market of the pharmaceutical sector last year, many investors chose to continue to cover their positions, which is also an important reason for dragging down the investment performance.
While retail investors complain about poor performance, they do not know that some institutions are paying attention to the pharmaceutical sector again and have been building positions at the right time.
“Medicine is not an abandoned child.” A gold medal financial planner of a joint-stock bank told the associated press that from the current situation, the pharmaceutical sector has released most of the risks, and the valuation has gradually become reasonable. “If financial customers can accept long-term investment for 3 to 5 years, some long-term value pharmaceutical stocks are worth configuring.”
it’s better to pay attention to the action of the organization than “scold Glenn”
According to the statistics of the financial Associated Press, since this year, 11 Financial Management subsidiaries have conducted research on listed companies, of which 8 companies have investigated pharmaceutical enterprises. Some subsidiaries in the “financial management” sector will also be included in the appropriate layout.
Among them, xingyin wealth management investigated listed companies in the pharmaceutical sector seven times, and Zhaoyin wealth management and Huihua wealth management investigated pharmaceutical companies six times. Western medicine and medical devices have become the key research fields of these institutions. From the perspective of individual stocks, compared with last year, Changchun high tech is no longer the focus of institutional attention. Instead, individual stocks such as Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Apeloa Pharmaceutical Co.Ltd(000739) , Qingdao Novelbeam Technology Co.Ltd(688677) and youningwei frequently appear in the research list of financial management subsidiaries.
At the beginning of November 2021, there was no trace of “medicine” in the “investment weekly” of China Post Financial Management. However, at the end of November, the agency made the judgment that “when the medicine is in the undervalued stage, it can build a warehouse appropriately” and “pay attention to the opportunities of medicine allocation”. Its recently released “investment weekly” more clearly stated that it should “pay attention to investment opportunities in medicine and other sectors and make appropriate layout.”
Many financial planners also said that the reverse operation signal of the market may have appeared. It has become the common practice of many institutions to pay more attention and find the right time to enter.
A well-known fund manager also said that the pharmaceutical index has fallen to the position of negative double standard deviation of valuation in the past decade, and is optimistic about the bottom layout opportunity of the pharmaceutical sector. At present, the fund position structure under its management is relatively balanced, focusing on sub industries such as vaccines, medical devices, pharmacies and innovative drug industry chain.
time is the friend of the pharmaceutical sector
Institutions are often more sensitive than the market. So does the institutional point of view mean that the pharmaceutical sector has reached the time point where it can be rearranged?
“I’m afraid it’s hard to make a lot of money by using the previous’ fast in and fast out ‘method.” A bank financial planner said that time is a friend of the pharmaceutical sector.
“At present, the investment in the pharmaceutical sector needs to look for long-term value investment. If it is a long-term investment of 3 to 5 years, it is recommended to allocate the pharmaceutical sector”.
At the same time, industry insiders also pointed out that the differentiation of the pharmaceutical sector has intensified, and it is difficult to say that some pharmaceutical stocks with high overvalued value and high product market saturation have more value space. Moreover, at present, the pharmaceutical industry is still uncertain, so it is difficult to judge the real bottom.
In the research, the bank’s financial management subsidiary also pays attention to the “long-term return”. They are more concerned about the growth mode and development strategy of enterprises, innovative drugs and their R & D, raw material costs and sales, centralized procurement and other measures. For pharmaceutical enterprises, it takes time to prove them one by one.
A fund sales agency told the financial associated press that more and more investors realize that the track is a double-edged sword. Compared with the balanced allocation fund, the fluctuation of the track fund is more intense. “The worst case scenario is to buy at the high point of market sentiment and turn away at the low point of sentiment. There is no long-term investment, but holding it for a long time and crossing the cycle can often get a good average return.”
What happens when “goddess of medicine” leaves the sales list? The popular track has suffered repeated setbacks, and this fund variety is popular
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