In recent years, under the background of rejuvenating the country through science and technology, information technologies such as artificial intelligence, 5g, Internet of things and cloud computing have developed rapidly, and digital economy has gradually become a hot word in the capital market. On March 31, the Index Investment Department of Huafu Fund said that the investment logic of the A-share industry is mainly the horizontal comparison of the landscape. In the period of deceleration of other popular tracks, the artificial intelligence industry is in the boom stage, and there is a certain probability that it will become a new hot spot in the market. AI covers all aspects of the digital economy and naturally connects concepts such as the Internet of things, 5g and big data center. Relevant industrial chain companies benefit from policy dividends and may achieve double improvements in performance and valuation in the future.
Statistics show that according to the notice of the 14th five year plan for digital economy development issued by the State Council at the beginning of the year, by 2025, the digital economy will move towards a comprehensive expansion period, and the added value of core industries of digital economy will increase to 10% of GDP from 7.8% in 2020. The notice repeatedly mentioned the concept of "artificial intelligence" and proposed to "create a new digital life with shared wisdom, deepen the integration of artificial intelligence, virtual reality and other technologies, expand the application of social networking, shopping, entertainment and other fields, and promote the upgrading of the quality of life and consumption."
Huafu Fund said that the artificial intelligence industry has strong scientific and technological innovation attributes, relatively high research threshold and great investment difficulty. It is not easy to seize relevant investment opportunities, while ETF products in benchmarking related industries have the advantages of convenient trading, position transparency and high fitting index, which is one of the best choices for one key layout of relevant industrial chains.
It is reported that Huafu CSI AI industry ETF (515980) is one of the few AI theme ETFs in the market. The product tracking index is the innovation index led by Huafu fund, that is, CSI AI industry index. It is worth mentioning that the index has exclusively customized the method of "market value ranking and stock selection after adjusting the proportion of AI revenue" in the conventional index preparation method. The targets screened by this method have avoided the trap of conceptual speculation and improved the scientific and technological attributes and "purity" of constituent stocks. It is understood that the fund is jointly managed by Zhang Ya and Gao Zhe. Zhang Ya is currently the assistant general manager of Huafu fund, the director and fund manager of index investment department. She has managed ETF products since 2007 and witnessed the development process of China's ETF; Gao zhe holds a doctorate in science from Peking University. He has successively served as Founder Securities Co.Ltd(601901) postdoctoral researcher and senior researcher of Shanghai Tong'an investment. He is quite accomplished in quantitative research.
Looking ahead, Huafu Fund Index Investment Department said that the growth rate of new energy, semiconductor and other industries may gradually decline from the peak, and the market will prefer industries with stable performance trend and low valuation. Affected by the epidemic, the demand for contactless artificial intelligence products and artificial intelligence medical treatment will increase greatly. In addition, under the policy background of the vigorous development of digital economy, artificial intelligence will be applied in more and more fields in the future. The secondary growth of relevant enterprises is expected, and artificial intelligence is still an important direction worthy of layout for a long time. According to the annual reports disclosed by relevant listed companies of the latest AI index constituent stocks, the median growth rate of the industry's net profit is close to 40%, which is at the middle and upper level in history, while the PE adjusted by the expected profit in 2022 is only 25 times, which is at a low level in the science and innovation industry. However, like almost all high-tech tracks, artificial intelligence tracks also have the characteristics of short-term high volatility, but the short-term volatility does not change the long-term trend. They are optimistic about relevant listed companies with good fundamentals, strong innovation ability and landing ability for a long time. For off-site investors who do not open on-site accounts, the index can be arranged at a low level through Huafu artificial intelligence ETF Feeder Fund (class a code 008020, class C code 008021).
