On April 21, Taurus Fund - Anxin value select equity securities investment fund (hereinafter referred to as "Anxin value select") released the first quarter report of 2022 (hereinafter referred to as "the first quarter report"). Chen Yifeng, the fund manager of the fund and assistant general manager and research director of Anxin fund, pointed out that the fund has always insisted on "choosing cheap and good companies" to buy valuable assets in the future at a reasonable price, and has always focused on value blue chips with very cheap valuation and growth stocks with broad prospects and reasonable valuation.
Chen Yifeng said that Anxin value selection has always focused on the following focuses: how the company does business, how large the company's development space is, how strong the relative competitive advantage is, and how the industry competition pattern is. "Over the past eight years, the industry has changed with the times, and the role of enterprises has also changed. No matter how the market changes, our investment direction has always focused on two types of companies - blue chips with very cheap valuations and adult stocks with broad prospects and reasonable valuations."
Chen Yifeng said that Anxin value selection adhered to broad-based stock selection and played down timing. The overall industries that added positions in the first quarter were construction, banking, food and beverage, while the allocation of electronics, nonferrous metals and other industries decreased. At present, the relatively promising companies are mainly concentrated in the subdivided fields such as electrical equipment, food and beverage, real estate, banking and so on. According to a quarterly report, a quarterly report shows that, as of the end of the quarter quarter quarter, the top ten heavy warehouse shares of the fund at the end of the quarter, the top ten heavy warehouse shares of the fund are '3 Beijing Zznode Technologies Co.Ltd(003007) 50 , Beijing New Building Materials Public Limited Company(000786) .
Looking ahead, Chen Yifeng said that after the market adjustment in the first quarter, the valuation of the CSI 300 index has been at a historically low level, and the valuation of the gem index has also shrunk significantly, but it is still at a historically high average level. After market adjustment, more stocks in the market will show good investment value. Excellent companies can often go against the trend to increase their share and expand their competitive advantage when the industry encounters business difficulties, and then get rid of the gap with their competitors when the next round of industry cycle rises, which is worthy of special attention.
