On the occasion of the new year, the enthusiasm for the issuance of public offering products has increased unabated. Many institutions are rushing to catch the “last bus” of this year’s issuance. A large number of top flow fund managers are actively preparing for the “good start” of the issuance in 2022. In terms of private placement, 10 billion private placement giants yuan Lesheng, Panjing investment and Xiangju capital will also intensively issue new products in early 2022.
The issuance of the new fund will bring sufficient “ammunition”. Some fund institutions believe that the market structure will be more balanced in 2022, and it is expected that the industry rotation will bring more significant excess returns. New infrastructure, new energy, semiconductors, mass consumer goods and some pharmaceutical segments deserve attention.
intensive release of new products
Yinhua Xinxing three-year holding hybrid securities investment fund managed by Li Xiaoxing and Zhang Ping will be issued on the first working day of 2022. On January 12, Cinda Aoyin Zhiyuan three-year holding hybrid securities investment fund managed by Feng Mingyuan will be put on public sale; The Golden Eagle Fund of dark horse company in 2021 will also issue a new fund – Golden Eagle era pioneer hybrid securities investment fund on January 10.
In addition, Cui Jianbo, Lu Bin, Guo Xiaowen, Ren Xiangdong, Du Meng and other powerful fund managers will also intensively sell new products in early 2022. From the announced funds, the data show that 73 funds will start to raise from December 30, 2021 to the end of January 2022.
In terms of private placement, 100 billion private placement Jinglin assets has just issued the latest phase of new products and obtained more than 3 billion yuan of subscription funds. A product managed by Jiang Hui, chairman of Xingshi investment, was also put on sale recently, and was launched successively in China Minsheng Banking Corp.Ltd(600016) , Bank Of Communications Co.Ltd(601328) and other channels.
At the beginning of 2022, the top 10 billion private placement source Lesheng in recent two years will issue products managed by Chairman Zeng Xiaojie in early January. China Securities News reporter learned that yuanlesheng has no plan to significantly expand the scale of asset management, but will make some adjustments to the company’s existing asset management structure. It is worth noting that in February 2021, the products managed by Zeng Xiaojie were sold at Citic Securities Company Limited(600030) . According to the channel, 1600 places were hot “second light”. Subsequently, its products were sold in several other channels in March and were sealed.
In addition, according to channel sources, Zhuang Tao, chairman of Panjing investment, will also launch a new product in January 2022. Cui tongkui, the newly introduced fund manager of Panjing investment, will also issue a new one-year holding private placement product in early 2022. The product is sold on a commission basis by leading securities companies, raising about 2.5-3 billion yuan. Liang Hui, general manager of 10 billion private equity gathering capital, will also sell products in the near future.
provide sufficient “ammunition” for the market
The intensive issuance of new products by public and private funds will provide sufficient “ammunition” for the A-share market in early 2022. According to the calculation of the capital flow of major institutional investors in a shares, China Canada Fund is expected to have a net capital inflow of more than 1.4 trillion yuan in 2022, and the proportion of medium and long-term funds such as insurance funds and wealth management sub funds will increase.
So where will these “ammunition” be aimed?
China Canada Fund said that it is expected that the index will continue to fluctuate in 2022. Unlike the rising market in the past few years focused on several main tracks, the market in 2022 will be more “flowers bloom”, and it is expected that the industry rotation will bring more significant excess returns. Specific to the industry sector, China Canada Fund is optimistic about new infrastructure, new energy, semiconductors, mass consumer goods and some pharmaceutical segments.
Zeng Xiaojie believes that the release of Chinese engineers’ dividends brings two major opportunities – manufacturing and carbon neutrality. China’s manufacturing industry will upgrade from low-end simple to high-end and technology intensive, and semiconductor, precision instruments, measuring instruments and other industries will benefit; Opportunities brought by carbon neutralization include changes in power supply and electrification of various industries, as well as the new energy shift of the automobile industry.
Zeng Xiaojie believes that the market opportunities in 2022 are mainly in manufacturing and consumption. In terms of consumption, the oversold consumption sector in 2021 has a good opportunity; The manufacturing industry covers a wide range, including photovoltaic, electric vehicle, semiconductor and other beneficiary industries. In terms of industrial structure, Zeng Xiaojie is optimistic about the opportunities in the middle and lower reaches of the manufacturing industry, because the decline of commodity prices will lead to the transfer of profit margin from the upper reaches of the industry chain to the middle and lower reaches.
In Liang Hui’s view, the liquidity in 2022 will be more abundant than that in 2021, and the A-share market can be expected to improve. He believes that the high growth industries and companies, such as the new energy industry chain, semiconductor, high-end Baijiu and so on, will benefit from the loose environment and have great potential. Banking, real estate, home appliances and other relatively undervalued industries also have certain valuation repair opportunities.
(China Securities Journal)
