According to the data of the first quarterly report of the fund, the recent new fund has significantly accelerated the pace of position promotion, and some fund positions have exceeded 90%.
Among the sub new funds that have rapidly established positions, fund products with holding periods of 1 year, 2 years and 3 years dare to improve their stock positions. Analysts believe that this shows that medium and long-term funds are relatively optimistic about the market.
times new fund quick opening
The reporter of China Securities Journal counted the stock positions of 36 active equity sub new funds established in late January at the end of the first quarter.
The data show that the average stock position of the above 36 new funds is 53.83%. Among them, China Europe multi value three-year holding hybrid, ChuangJin Hexin specialized special new, Hua'an advantage selection hybrid, Cathay Pacific and two-year closed operation hybrid and other sub new funds have experienced about two months of operation, which has rapidly raised their stock positions.
some sub new funds with high stock positions
Data source: wind, the first quarterly report of the fund, as of March 31
Taking the mixed holding of China EU multi value for three years as an example, the stock position of the fund at the end of the first quarter has reached 94.28%, close to 95%. The top ten heavyweight stocks include meituan, Eve Energy Co.Ltd(300014) Fujian Torch Electron Technology Co.Ltd(603678)
Interestingly, among the sub new funds that have rapidly established positions, fund products with holding periods of 1 year, 2 years and 3 years dare to improve their stock positions.
stock positions of some fund products with holding period at the end of the first quarter
Data source: wind, Fund Quarterly Report
"Fund products with holding period have rapidly increased their positions, showing that medium and long-term funds are relatively optimistic about the market. In the medium and long term, these fund managers have expressed their views with stock positions." Huabao securities fund analysts said.
The fund manager of the high position sub new fund also clearly expressed his views in the quarterly report.
"At the current time point, the valuation advantages of some high growth assets with excellent quality, large long-term space and relatively high static valuation are prominent. The companies whose business prosperity is affected by short-term factors such as the disturbance of the epidemic and the price of raw materials have made full adjustment. Many high-quality companies have presented very good long-term investment opportunities. In such adjustment, the portfolio is also constantly concentrated in such assets." Yuan Weide, a fund manager of China Europe diversified value held for three years, said.
give consideration to high prosperity and steady growth
In the sub new fund, there are also fund products with low stock positions. For example, the stock position of a new fund established on January 25 was only 4.09% at the end of the first quarter. The low position made the fund avoid the market shock in the first quarter. Its net growth rate of fund shares in the first quarter was - 0.31% and the benchmark return on performance was - 8.36%.
In the quarterly report of the fund, the fund manager of this product said: "due to the relatively conservative position, the net value withdrawal is relatively controllable. Later, as the market stabilizes, the fund will further improve its position, bargain hunting and allocate core assets with long-term competitiveness, and choose the opportunity to allocate upstream resource products with certain anti inflation ability."
In fact, the sub new fund with low position operation has significantly accelerated the pace of position promotion in the near future.
"On the one hand, although the market has been shaken and adjusted recently, high-quality targets with high cost performance emerge one after another; on the other hand, the slow pace of warehouse building in the early stage means that the positions need to be rapidly increased in the future." Once, the new fund manager said.
With the adjustment of the market, fund institutions believe that the market has high investment value.
"If we focus on the dimension of one year or more, the risk premium in the current market has been at a historically high level (90% quantile) , the market has fully reflected the impact of epidemic situation, geopolitics and other factors, and has high investment value. At the same time, the growth sectors represented by new energy, semiconductor and medicine have good long-term development space and growth, and after adjustment, both valuation and investment value are highly attractive. The short-term factors that perplex the market and industry, such as rising costs, are also expected to be alleviated in the second quarter or the second half of the year. At present, the medium and long-term opportunities in the market are prominent. The more this time is, the more it is necessary to 'believe in common sense and seize opportunities'. " Lu Bin, investment director and fund manager of HSBC Jinxin fund, said.
In terms of specific direction, the fund institutions suggest balanced consideration.
GF believes that the current market concerns include the recurrence of the epidemic and the tightening policy of the Federal Reserve, and the investor sentiment is in a relatively pessimistic state. Subsequently, with the improvement of epidemic prevention and control, market sentiment is expected to improve. In the near future, we need to focus on the changes of US bond interest rate and China's epidemic situation. In terms of industry, it is recommended to pay attention to high boom photovoltaic, electric vehicles and banks, buildings and building materials related to steady growth.
"During the intensive disclosure period of the annual report and the first quarterly report, it is suggested that the sector configuration should be relatively balanced and gradually shift from bargain hunting to growth. Pay attention to the individual stocks with better than expected performance in the growth track, such as semiconductors, photovoltaic and medicine, as well as the real estate chain and new and old infrastructure sectors." Fu Rong Fund said.
