Since the beginning of this year, is there any base people who buy more and more in the continuously volatile market? Has the star fund, which has long occupied the top selling list of major platforms, really been copied by investors? How much real gold and silver has “Gaibang” invested to buy yesterday, the first quarterly report of the fund was disclosed, and the relevant situation also surfaced
star fund was “snapped up” at a low level
Although there was a correction in the net value of many star fund products in the first quarter of this year, and some Jimin also ridiculed their mood as if they were riding a roller coaster, funds are indeed flowing into equity, hybrid and QDII funds. According to Tianxiang investment consulting data, the net subscription share of these three types of funds exceeded 55 billion in the first quarter of this year.
so, did the regular customers on the “hot list” of major fund sales platforms really achieve share growth in the first quarter
Hithink Royalflush Information Network Co.Ltd(300033) app shows the quarterly hot selling list of funds, screenshot on April 23
Take the central Europe medical health, the protagonist of the ant wealth adjustment week hot selling list event in February this year, as an example. This star product managed by Ge Lan was withdrawn from the hot selling list next week because of the “negative weekly net subscription amount”, which also triggered a series of list optimization of ant wealth.
However, at present, China Europe medical and health still occupies the top position of the hot sales list of some other fund sales platforms. Taking Hithink Royalflush Information Network Co.Ltd(300033) app as an example, the fund currently ranks sixth in the quarterly hot sales list in fact, in the first quarter, the A and C shares of the fund realized a total of 600 million net subscriptions, which confirmed the strong “bottom reading” of Jimin
Similarly, statistics show that Baijiu liquor, which is the top selling platform in many platforms and managed by Hou Hao, is the largest index fund with the largest share growth in the first quarter, with a net purchase volume exceeding 8 billion 100 million copies. Noan growth managed by Cai Songsong also received a net subscription of more than 2.1 billion in the first quarter of this year.
In addition to the star funds that have been “bottom copied”, some products with excellent performance this year have also received the focus of funds. For example, the share of Zhonggeng value pilot managed by Qiu Dongrong increased by 1.8 billion in the first quarter, and the net subscription share of GF Multi Strategy hybrid managed by Lin Yingrui also reached 450 million in the first quarter.
funds “borrow the base to go south” with high enthusiasm
all said that the “general Gang” who made great efforts to copy the bottom was sad, but the enthusiasm of southbound funds to copy the bottom was really revealed after the data of the first quarterly report was disclosed
According to the data, in the first quarter of this year, the product with the most crazy bottom reading was a QDII fund – Huaxia Hang Seng Internet technology ETF, with a share increase of more than 16.2 billion. Followed by e fund zhonggai Internet 50ETF, the same QDII fund, with a share increase of 8.57 billion in the first quarter.
Equity funds with the top 10 net subscription shares in the first quarter of this year
overall, the share of QDII fund increased significantly in the first quarter, with a total of more than 63.4 billion net subscriptions in the first quarter, half of the equity funds with the top 10 net subscription volume were QDII funds investing in Hong Kong stocks and China concept stocks.
For the future investment opportunities of Hong Kong stocks, many fund managers believe that there are still risks in the short term, but they have entered the deep value range in the long term.
Lu Qiuyuan, manager of Hua’an Shanghai Hong Kong Shenzhen preferred fund, analyzed in the first quarterly report that in the first quarter of 2022, the conflict between Russia and Ukraine broke out and the European market fell significantly. The withdrawal of some overseas funds from U.S. stocks, Chinese stocks, Hong Kong stocks and A-Shares led to a significant adjustment in the valuation of leading companies and core assets. At the same time, the repeated outbreak of the epidemic has affected China’s economy, especially in production and consumption related fields, resulting in A-share and Hong Kong stock market sentiment downturn.
Cheng Yu, director of Overseas Investment Department of HSBC Jinxin fund, believes that after the previous continuous decline in the Hong Kong stock market, the current valuation level has been in the bottom range of the past 10 years, and the risk premium is at a high level, reflecting extreme panic. From historical experience, when the valuation is at the bottom and the risk premium is at the top, the market has a strong tendency of mean return and value repair. It can be said that Hong Kong stocks have been in the deep value range.
“In the current market position, looking forward to the future, there is no need to be pessimistic. In the medium and long term, the valuation of many good companies has basically been adjusted in place. After the market bottoms out, the style may return to white horse blue chip, including emerging industries represented by electric vehicles and new tobacco, head technology and consumer companies with reasonable valuation, which are the direction we are relatively optimistic about and will focus on.” Lu Qiuyuan said.
