The recent covid-19 epidemic has occurred in many places, and the traditional Chinese medicine sector has strengthened significantly. As of April 8, the index of traditional Chinese medicine in the Chinese securities market has increased by more than 11% in the past 20 days. For the current investment value of traditional Chinese medicine, many investors gave a positive reply. If investors want to invest in traditional Chinese medicine through the fund, they also have some tips.
through two traditional Chinese medicine theme funds
Although there are many pharmaceutical theme funds, there are not many theme funds focusing on the subdivision of traditional Chinese medicine.
According to the data, among the more than 9000 public funds in the whole market, only two traditional Chinese medicine theme funds are Qianhai Kaiyuan traditional Chinese medicine a / C and huitianfu Zhongzheng traditional Chinese medicine a / C. for investors, investing in traditional Chinese medicine through these two high-purity theme funds is one of the choices.
Specifically, the two funds have their own characteristics. Qianhai Kaiyuan traditional Chinese medicine research selection is a common stock fund, which was established on March 21, 2018. The fund manager is Fan Jie, and the scale as of the end of last year was 321 million yuan; Huitianfu Zhongzheng traditional Chinese medicine is a passive index fund. It was established on December 29, 2016 and is now managed by Guo Beibei. In addition, huitianfu Zhongzheng traditional Chinese medicine is a lof fund, which can be redeemed off-site or traded on-site.
According to the data, the income of Qianhai open source research and selection of traditional Chinese medicine in recent one and three years was 25.62% and 48.43% respectively. In the whole year of 2021, the net value growth rate of Qianhai Kaiyuan research and selection of traditional Chinese medicine was 36.74%, running out of an obvious excess rate of return. The income of huitianfu traditional Chinese medicine in recent one year, three years and five years was 25.08%, 29.52% and 12.82% respectively.
From the perspective of maximum withdrawal, as of April 8, 2022, the maximum withdrawal of Qianhai Kaiyuan traditional Chinese medicine research selection a in recent 1 and 3 years was 19.91%; The maximum withdrawal of huitianfu Chinese herbal medicine in recent 1 year and recent 3 years were 20.38% and 24.86% respectively.
From the perspective of positions, the positions of the two funds are highly similar. By the end of the fourth quarter of last year, the top ten heavyweight stocks of the two funds included six stocks in the traditional Chinese medicine sector, including Yunnan Baiyao Group Co.Ltd(000538) , Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) , Dong-E-E-Jiao Co.Ltd(000423) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) .
As a passive fund tracking the CSI TCM index, huitianfu’s stock position of CSI TCM (LOF) is more than 90%, and the stock position selected by Qianhai Kaiyuan TCM research is about 80%. However, the positions selected by Qianhai Kaiyuan traditional Chinese medicine research are more concentrated, and the top ten heavy positions account for more than 78% of the net value of the fund.
focus on the fund with heavy positions in traditional Chinese medicine stocks
In addition to traditional Chinese medicine theme funds, some equity funds with heavy positions in traditional Chinese medicine also deserve attention. Investors can check the latest quarterly report of the fund disclosed and screen the top ten heavyweight stocks to find relevant funds. According to the fourth quarter report of 2021, the top five heavy positions of active equity funds such as Xingye Juhui, Xingye Juyuan, Jinyuan Shunan medical health, Xingye Juxing, Wanjia double engine and Galaxy recreation include individual stocks of traditional Chinese medicine.
At the same time, investors also check the fund’s semi annual report and annual report. The “invisible heavy position stocks” (the 11th to 20th largest position stocks) of some fund managers are traditional Chinese medicine stocks, which can be configured by investors in this way.
For example, since the second half of last year, with the continuous increase of Jimin positions, the scale of medical and health care in China and Europe has increased significantly, and Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) is also the leader of traditional Chinese medicine. In addition, the time-honored brand of traditional Chinese Medicine Beijing Tongrentang Co.Ltd(600085) has also been favored by Ge Lan, and has newly become the 20th largest holding stock of China Europe medical health. However, it should be noted that the proportion of traditional Chinese medicine in the market value of all its positions is not too high.
Zhu Mingrui, a medical researcher at Nordisk foundation, said that there may be greater opportunities for tracks that are not suppressed by policies, such as western medicine, generic drugs, high-value consumables and IVD tracks, which are still suppressed by policies. For example, there will be some opportunities in the fundamentals of traditional Chinese medicine innovative drugs, traditional Chinese medicine formula particles, upstream of life sciences and CXO. In terms of capital, CXO track is relatively crowded, and the allocation proportion of public offering is high. At present, the track of traditional Chinese medicine innovative drugs and traditional Chinese medicine formula particles will have certain advantages in terms of capital.
