Public funds are still buying their own funds and continue to show confidence with “real gold and silver”.
Recently, China Southern fund launched a self purchase of 100 million yuan, including this self purchase. China Southern Fund has made four self purchases this year. Up to now, the self purchase scale of the whole public offering industry has reached 1.433 billion yuan this year. The self purchase scale of Nanfang fund and Cathay Pacific Fund reached more than 100 million yuan.
In addition, in the newly released strategy report for the second quarter, the public offering has seen a positive trend in Fundamentals: “bottom of profit” may be gradually verified in the second quarter, and the market will return to normal fundamental investment. In the second quarter, four core assets of science and technology, consumption, medicine and real estate will be arranged.
China Southern Fund self purchase for four times
Southern Fund recently announced that based on its confidence in the long-term healthy and stable development of China’s capital market, the company will subscribe for its partial share public offering fund, southern Haoyi enterprising Jushen, with an inherent capital of 20 million yuan of fund (fof) a (fund code: 014934) in the three-month holding hybrid fund. In the near future, it will continue to apply for the partial share public offering fund of the company, with a total investment of no less than 100 million yuan.
As a head public offering, China Southern Fund has conducted self purchase for four times this year. On January 27, China Southern fund launched its first self purchase this year, saying that within 30 trading days, it will purchase the partial share public offering fund of the company with its own funds, with a total contribution of no less than 50 million yuan and holding it for more than 3 years. On February 11, China Southern Fund announced that the fund managers Luo An’an and sun Lumin invested 1 million yuan respectively to purchase the new development fund, the southern emerging industry hybrid fund and the southern Baoyu hybrid fund. On February 23, China Southern Fund announced that Luo Shuai, the proposed fund manager of the southern development opportunity hybrid fund, invested 2 million yuan to subscribe for the fund. As of March 23, since 2022, it has used its own funds to subscribe for its equity funds of more than 250 million yuan. If the 100 million yuan launched this time is included, the self purchase scale of Nanfang fund will exceed 350 million yuan.
Data show that as of April 11, 58 fund companies (excluding fund managers) have conducted a total of 93 self purchases this year, with a total scale of 1.433 billion yuan. In addition to Nanfang fund, the self purchase scale of Huatai Securities Co.Ltd(601688) (Shanghai) Asset Management Co., Ltd. and Cathay Pacific Fund is also more than 100 million yuan; In addition, the public offering and self purchase scale of e fund, Dacheng Fund and Xingquan fund is more than 50 million yuan.
self purchase of funds since this year
requires patience and concentration
“When will the market bottom out? This is the topic that investors are most concerned about.” Equity fund manager Fang Han (pseudonym) said that the impact of news disturbance factors on the market has been gradually absorbed and digested by the market through the early shock adjustment. At present, relevant influencing factors (such as local epidemic prevention and control and peripheral geographical relations) still exist and are expected. The market needs some time to build a bottom and consolidate. At present, there is no need to be pessimistic, but it needs some patience and concentration.
From the newly released second quarter strategy report of public offering, we have seen a good trend. In the economic outlook and investment strategy report for the second quarter of 2022, Jingshun Great Wall Fund pointed out that the low growth rate of corporate profits in the current round may be seen in the second quarter. Under the steady growth and wide credit transmission, corporate profits are expected to gradually stabilize in the second half of the year. With the passivation of the influence of overseas situation, the continuous promotion and development of policies, and the stabilization of investor expectations and emotions, the market will return to normal fundamental investment.
“We judge that the future market probability of the A-share index gradually builds the bottom area through time.” Yu Guang, assistant general manager of Jingshun great wall and general manager of the stock investment department, said that the market has undergone significant adjustment since the end of last year. At present, the overall valuation level is at a relatively low level in history, which is very cost-effective. In addition, the policy has strong determination to stabilize growth, and the bottom of market profit may be gradually verified in the second quarter.
At the second quarter strategy meeting of China Southern Fund, Tang Xiaodong, CO general manager of the macro strategy Department of China Southern Fund, pointed out: “since the subprime mortgage crisis, half of the global GDP growth comes from China. This is our biggest fundamentals, so we should not be pessimistic about the future of our country’s economy and equity market.”
layout these cost-effective sectors
In terms of specific layout, Ping An Fund said in the market strategy report of the second quarter that from a global perspective, China’s asset allocation had obvious advantages in cost performance in the second quarter, and it is suggested to make multi-point layout and balanced allocation. Among them, there is still room for the restoration of consumer demand after the epidemic, the expansion of medium and long-term residents’ income returns to normal, and the consumption potential of domestic demand remains to be tapped. In addition, with the acceleration of digitization and intelligence, China’s scientific and technological innovation is expected to accelerate. Under the global wave of “carbon neutralization”, China’s energy has ushered in the opportunity of “overtaking in corners”. The substitution of green energy and the penetration of new energy vehicles are also medium and long-term trends.
INVESCO the Great Wall Fund said that the current A share investment has been very cost-effective, and it is recommended that we focus on four core assets, including technology (photovoltaic, lithium, semiconductor), consumption (Baijiu, beer, small appliances, tax exemption), medicine (CXO, API, Chinese Medicine), real estate (leading state-owned enterprises, high-quality private enterprises) and so on.
Boshi Fund pointed out in the macro strategy report of the second quarter that A-Shares are expected to show a U-shaped trend throughout the year, and the middle of the year is an important observation point. In the second quarter, it is suggested to actively pay attention to the undervalued energy inflation chain, including oil, petrochemical, coal and green power; On the other hand, in the growth sector, it is suggested to pay attention to the new energy chain with deep adjustment, sufficient pressure release of congestion and still good prosperity, including photovoltaic and wind power.
For the new energy sector, Cui Chenlong, executive director and fund manager of Qianhai open source fund, said that in the long run, regardless of the sustainability of space and demand, the new energy sector is expected to be far from the ceiling. The “carbon peak” and “carbon neutralization” policies provide a long-term guarantee for the development of the whole new energy industry, and are optimistic about the production end represented by photovoltaic and the use end represented by lithium batteries, Both are the core development direction of the whole industry. At the same time, they are firmly optimistic about the investment opportunities of new energy operators who continue to benefit from technological progress.
