Csi.com (Reporter Yu Shipeng) recently, Penghua emerging industry hybrid securities investment fund (hereinafter referred to as “Penghua emerging industry hybrid fund”) released the fourth quarter report of 2021. Liang Hao, the fund manager, vice president of Penghua Fund and general manager of the research department of the fund, pointed out that in the fourth quarter, he made positive adjustments to the portfolio from the medium and long-term perspective, increased the proximity of the portfolio to the mainstream consensus of the market, and moderately reduced the proportion of over personalized investment, which will strengthen the research tracking of industries and enterprises with sustained value growth in the future.
Liang Hao pointed out that since the fourth quarter, the track stocks began to differentiate and stagnate, the market showed a relatively balanced state, and the performance of the fund portfolio began to recover gradually. However, due to the large performance gap in the first half of the year, it failed to reverse the overall decline of the portfolio. In investment management, the fourth quarter focused on the medium and long-term perspective, sorted out many industries that had not been understood and tracked thoroughly one by one, made positive adjustments to the portfolio, increased the proximity of the portfolio to the mainstream consensus of the market, and moderately reduced the proportion of over personalized investment. Specifically, the portfolio has significantly increased the investment in military industry, automobile and other manufacturing industries, and adjusted the position of investment in medicine, consumption and other fields. According to the four seasons report, the fund’s position in Fu Jian Anjoy Foods Co.Ltd(603345) was reduced from 7.10% to 4.7%, and the position in Milkyway Chemical Supply Chain Service Co.Ltd(603713) increased by 1.62 percentage points to 7.55%.
However, Liang Hao pointed out that this proximity to the mainstream consensus target is not a compromise to relative income and ranking, but a recognition that investment income comes from the natural extension of national and industrial competitiveness on the one hand and the creativity of individual entrepreneurs on the other. “Previously, our industries and enterprises in the process of value growth did not invest enough energy in research and tracking, and will be strengthened in the future.”
