As of April 10, 1399 A-share listed companies had disclosed their 2021 annual reports, and the positions of venture capital, social security funds and QFII institutions gradually surfaced. China Securities News reporter combed the relevant data and found that insurance funds and social security funds have a strong preference for the financial industry, QFII institutions have diversified positions, and have a strong layout of advanced manufacturing, non-ferrous metals and other industries.
Many insiders told the reporter of China Securities Journal that now is a good time to allocate equity assets. It is suggested to balance positions and focus on the two main lines of “steady growth” and “technological innovation”.
insurance capital and social security fund heavy positions in financial stocks
As of the time of press release on April 10, a total of 105 insurance institutions and their products appeared in the list of shareholders of listed companies that have disclosed the 2021 annual report.
According to the data, among the top 10 listed companies with heavy insurance positions, except China United Network Communications Limited(600050) .
The social security fund also focuses on financial stocks. In terms of the number of shares held, the top four heavyweight stocks of the social security fund are all financial institutions, of which Agricultural Bank Of China Limited(601288) has the largest number of shares, reaching 23.5 billion shares Industrial And Commercial Bank Of China Limited(601398) ranked second, with more than 12.3 billion shares held by the social security fund Bank Of Communications Co.Ltd(601328) , The People’S Insurance Company (Group) Of China Limited(601319) followed closely, ranking third and fourth respectively, with more than 2 billion shares held by the social security fund.
In addition, some listed companies in non-ferrous metals, power, heat production and supply, telecommunications services, energy, real estate and other industries are also heavily held by insurance funds and social security funds.
From the increase of insurance capital and social security fund, listed companies in the fields of non-ferrous metal smelting and calendering processing, oil and natural gas exploitation, general equipment manufacturing, chemical raw materials and chemical products manufacturing, special equipment manufacturing, computer and so on have become new favorites.
qfii pursues advanced manufacturing
Data show that up to now, 33 QFII institutions have appeared in the list of the top ten circulating shareholders of more than 200 listed companies.
In terms of the number of heavily held shares, Shengyi Technology Co.Ltd(600183) ranks first, China Pacific Insurance (Group) Co.Ltd(601601) ranks second, and the number of shares held by QFII institutions by Zijin Mining Group Company Limited(601899) , China stock market news and other companies also ranks first.
From the perspective of position change, the Central Bank of Norway increased its holdings of Venustech Group Inc(002439) 557 million shares, satellite chemical was increased by 404 million shares by the Kuwait Government Investment Bureau, and Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Guangxi Yuegui Guangye Holdings Co.Ltd(000833) were increased by more than 3 million shares by QFII institutions. In addition, Shengyi Technology Co.Ltd(600183) , Huaihe Energy (Group) Co.Ltd(600575) was significantly reduced, and Huaihe Energy (Group) Co.Ltd(600575) was reduced by 7.45 million shares by UBS group.
From the perspective of industry distribution, QFII institutions have a wide range of industries. In addition to advanced manufacturing and computer industries, insurance, nonferrous metal mining and beneficiation, capital market services and other industries have also become the favored objects of QFII institutions.
focus on two main lines
Many insiders told reporters that the current market valuation meets the stock selection requirements of insurance funds, which is a good time to gradually increase positions.
Guoshou assets believes that the current risk appetite in the equity market has been significantly repaired. For the risk capital with neutral position, it is suggested to gradually take advantage of the opportunity of bottom shock to increase positions on bargain hunting from the perspective of absolute return. In terms of specific allocation, Guoshou suggests balanced allocation of assets, focusing on the two main lines of “steady growth” and “technological innovation”; In the medium and long term, with the upgrading of technology industry as the main line, it is biased towards defensive and valuation repair in the short term, looking for sectors with undervalued value and expectation of boom reversal, and paying attention to trading opportunities in large finance and infrastructure real estate sectors.
Citic Securities Company Limited(600030) it is suggested to stick to the main line of “steady growth”, pay attention to the real estate industry chain, and continue to layout around “two low positions”. First, for the varieties with relatively low valuation, it is recommended to pay attention to high-quality developers, property management and building materials enterprises after the expected mitigation of real estate credit risk, communication operators with significantly improved cash flow, smart grid and cloud infrastructure in the field of new infrastructure, and fine chemical enterprises with new material r & D capability. The second is the varieties whose fundamentals are expected to be relatively low, such as smart cars and parts, photovoltaic wind power equipment, aviation, hotels and department stores. Recently, we can focus on a quarterly performance expected to exceed the expected variety. We suggest focusing on PV, semiconductor, Baijiu, Chinese medicine and building blocks.
