With the disclosure of the first quarterly report of the fund, the stock position of the sub new fund established at the end of January this year surfaced. The reporter of China Securities Journal found that some sub new funds have built their positions quickly, and even the stock positions of some sub new funds have reached nearly 95%. Especially in the sub new fund, some products with 3-year and 2-year holding period rapidly increased their positions, showing a positive attitude towards medium and long-term funds.
In addition, the reporter of China Securities News learned that although the market is still in the adjustment pattern, the pace of building positions of new funds established in February and March is also accelerating day by day.
times new fund quick opening
With the disclosure of the first quarterly report of the fund, the stock position of the new fund was revealed. 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, after about two months of operation, China EU multi value sub new funds such as three-year holding mix, ChuangJin Hexin specialized special new, Hua’an advantage selection mix, Cathay Pacific and two-year closed operation mix have rapidly raised their stock positions. The stock positions of the above funds at the end of the first quarter were 94.28%, 93.68%, 93.65% and 93.50% respectively.
Taking the China EU multi value holding mix for three years as an example, the fund’s stock position at the end of the first quarter was as high as 94.28%, and the top ten heavy positions included meituan, Eve Energy Co.Ltd(300014) , B-Soft Co.Ltd(300451)
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 basically avoided the adjustment market in the first quarter. Finally, the net share growth rate of the fund in the first quarter was – 0.31%, and the benchmark return on performance was – 8.36%.
However, in the first quarterly report, the fund manager of the fund product made it clear that “due to the relatively conservative position, the net value withdrawal is relatively controllable. In the follow-up, as the market stabilizes, the fund will further improve the position, bargain hunting and allocate China’s core assets with long-term competitiveness, and at the same time, choose the opportunity to allocate upstream resource varieties with certain anti inflation ability.”
Other sub new funds that chose low positions in the first quarter have significantly accelerated the pace of position promotion in the near future. “On the one hand, in the context of market shocks, there are more and more high-quality targets with high cost performance; 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 follow-up.” Once, the fund manager of the new fund said.
The tight pace of position increase is also transmitted to the sub new fund products established in February and March. Recently, the volatility of the net value of many sub new funds established for a short time has significantly expanded, showing signs of an increase in the proportion of equity asset investment.
show attitude by action
Among the sub new funds that have rapidly established positions, products with holding periods of 1 year, 2 years and 3 years dare to improve their stock positions.
According to the first quarterly report of the fund, as of the end of the first quarter, the stock positions of five sub new funds established in late January have exceeded 80%. Among them, the stock positions of the first three are more than 90%.
“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.
Indeed, fund managers of sub new funds with high positions generally expressed their views clearly in the first quarterly report.
“At the current time point, the valuation advantages of some high growth assets with excellent quality have been highlighted. Among them, the companies whose business prosperity has been affected by short-term factors such as the disturbance of the epidemic and the fluctuation of raw material prices have made full adjustments. Many high-quality companies have presented very good long-term investment opportunities. Their portfolios are constantly concentrating on these assets.” Yuan Weide, a fund manager who has held a mixture of China EU diversified values for three years, said.
give consideration to high prosperity and steady growth
Recently, the view of fund institutions has become more and more clear, that is, the market has high investment value.
“At present, the medium and long-term opportunities in the market are prominent. The more this time, 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. AXA Puyin Fund said that the capital market ultimately reflects the economic fundamentals. Although the market volatility has increased due to multiple internal and external factors in the short term, the A-share market is expected to be further repaired as the epidemic eases and the economy stabilizes.
In terms of specific investment direction, fund institutions suggest balanced consideration.
“The measures to stabilize growth are expected to be implemented gradually. Following the release of the recent policy signal to maintain stability, investment in infrastructure construction is expected to be strengthened. From the perspective of market style, the style after market adjustment is expected to return to equilibrium. Stable growth and balanced allocation of high prosperity are the core investment strategies. Investors can pay attention to the repair of high-end manufacturing industry and offline economy after the epidemic.” ABC Huili Fund said.
Furong Fund said that with the gradual mitigation of the impact of the epidemic, it can pay attention to medium – and long-term investment opportunities. “Bargain hunting shifted to growth style, focusing on the growth track, such as semiconductor, photovoltaic, pharmaceutical and other stocks with better than expected performance, as well as the real estate chain and new and old infrastructure sectors based on the expectation of fiscal policy.”
