Wells Fargo fund today disclosed the first quarterly report of 2022. Zhu Shaoxing, who has worked as a fund manager for the longest time in a row, disclosed his positions and views.
Zhu Shaoxing is a senior “veteran” who has attracted much attention due to his outstanding long-term performance in the market. At present, the only fund he manages – Fuguo Tianhui selection, with the latest scale reaching 33.467 billion yuan. His quarterly views and positions have attracted much market attention.
In the first quarter of 2022, the market fluctuated and fell sharply. Zhu Shaoxing still maintained high position operation at the end of the first quarter. From the perspective of Fuguo Tianhui under his management, the stock market value accounted for 93.65% of the net asset value of the fund at the end of the first quarter, with a small difference from 93.92% at the end of last year.
In the past, the ten big heavy positions changed, Baijiu Kweichow Moutai Co.Ltd(600519) continued to occupy the top heavyweight stock of the heavyweight heavyweight company, Contemporary Amperex Technology Co.Limited(300750) and Bank Of Ningbo Co.Ltd(002142) were listed in the second and third heavyweight stocks.
Wuxi Apptec Co.Ltd(603259) and Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) newly entered Wells Fargo Tianhui’s top ten heavy positions, currently holding 3.33% and 2.18% respectively. While Shandong Sinocera Functional Material Co.Ltd(300285) , Changchun High And New Technology Industries (Group) Inc(000661) withdrew from the list of top ten heavy positions.
Zhu Shaoxing said in Fuguo Tianhui’s 2022 quarterly report that black swan events occurred frequently in the first quarter. The outbreak of the Russian Ukrainian war, the rapid spread of covid-19 virus again, and the expectation of US interest rate hike strengthened. Multiple bad news superimposed at the same time, resulting in a sharp decline in the market.
He said that it is really difficult for us to draw an optimistic conclusion when we analyze the short-term market environment at the current time point. The price of resource products is rising, the interest rate gap between China and the United States has narrowed, while US stocks are facing interest rate hikes, and foreign capital continues to flow out of the market. However, if we focus on a longer time dimension, it is meaningless to be overly pessimistic about the market. Now is the time for equity investors to bear fluctuations and take risks skillfully.
Zhu Shaoxing believes that under the current macro background, we will still pay attention to the quality of listed companies and hope that the production and operation of investment targets will be more robust. The favorable aspect is that in the core assets, a considerable part of the early share price of high-quality subject matter has retreated significantly, and the valuation attraction has increased significantly. In the future, we will still be committed to finding value in high-quality stocks and turning more “stones”.
We do not have the reliable ability to accurately predict the short-term trend of the market. Instead, we focus on patiently collecting excellent companies with great prospects and waiting for the realization of the value created by the company itself and the periodic return of market sentiment. In terms of individual stock selection, the fund prefers to invest in enterprises with good “enterprise gene”, perfect corporate governance structure and excellent management. We believe that such enterprises have a greater probability of creating value for investors in the future. Sharing the capital market returns brought by the growth of enterprises is the best way for growth funds to obtain returns
“Top flow” latest warehouse adjustment! Liu Gesong and Fu Youxing are optimistic about the structural market in the second quarter
Increase the warehouse of Maotai on a large scale! 50 billion top flow Li Xiaoxing, half of the heavyweight stocks “exchange blood” balanced allocation of consumer technology in the first quarter
Exposure of warehouse adjustment in the first quarter! Ge Lan’s holdings of Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , gf’s top current targeting Sungrow Power Supply Co.Ltd(300274) Yang Jinjin and Han Chuang “reappear differences”
Liu Gesong, 60 billion “top stream”, said: don’t be pessimistic. I hope Jimin will be patient! The latest research and judgment of GUI Kai, Lin Yingrui and Yang Jinjin has also come!
