Guolian Fund Huang Xin: Investment is to invest in the future Semiconductor industry or welcome gold for five years

At present, the Shanghai Composite Index is oscillating around 3200 points, and how to deduce it next has become a hot topic in the market. In the view of Huang Xin, fund manager of Guolian An, no matter how the market changes in the short term, the most important thing to invest in the future is to choose the next gold industry.

It is reported that the Guolian An CSI Semiconductor ETF under the Guolian An Fund is scheduled to be sold from April 22, and the fund will be led by Huang Xin as the fund manager. He told the Shanghai Securities Daily reporter that the reason for choosing to sell the product at this time is to see the development prospects of China's semiconductor industry in the next 5 years.

Choosing the right industry is the key to winning investment

Huang Xin graduated from the London School of Economics, majoring in accounting and finance, obtained a master's degree, joined Guolian Fund in October 2003, and has served as the assistant manager of the product development department, the special assistant to the general manager, the bond investment assistant of the portfolio management department, and the fund manager of many index funds such as Guolian SSE Commodity ETF and Guolian An Bixie CSI 100, and is currently responsible for the construction of quantitative models in the company.

In Huang Xin's view, investing in index funds is a good choice, because from the experience at home and abroad, the fund managers who have won the index for a long time are a minority after all, and it is difficult for investors to determine who is an excellent fund manager in advance. At the same time, the management fee of index funds is lower than that of actively managed funds, which is also a considerable gain in terms of elongation.

Under the guidance of this investment philosophy, choosing the right industry has become the key to investment success. Huang Xin said: "The most important thing about investment is to invest in the future, and the industry that represents the direction of social progress must be the future." ”

He analyzed that in the past 20 years, the biggest increase in the industry is either real estate or consumption, and a number of big bull stocks have been achieved in the fields of liquor, home appliances, and real estate. The next 20 years will be different, China's economy has entered a stage of high-quality development, and some emerging industries, especially high-tech industries, are expected to become the next investment "outlet".

The semiconductor industry ushered in rapid growth

In the emerging industry, Huang Xin is most optimistic about the semiconductor industry. Statistics show that in the past 3 years (2016 to 2018), the scale of China's semiconductor integrated circuit market increased by 8.7%, 9.0% and 6.5% respectively over the previous year, and has become the world's largest consumer electronics producer and consumer country. In the next 5 years, China's semiconductor industry will usher in a period of rapid growth, it is expected that by 2023, the market size of China's semiconductor integrated circuits will increase from the current $23.8 billion to $47 billion, with a compound annual growth rate of 15%, higher than the global level of 8%.

Looking forward to the future, Huang Xin said that under the trend of import substitution, with huge market demand and policy support, China's semiconductor equipment industry will usher in historical development opportunities. On the one hand, the launch of the science and technology innovation board is approaching, and among the six major scientific and technological innovation areas recommended by the sponsoring institutions, semiconductor and integrated circuit enterprises rank first, providing semiconductor companies with a relatively relaxed listing environment and convenient financing channels, which is conducive to promoting the long-term development of the semiconductor industry. On the other hand, the rapid development of many emerging industries such as 5G communications, new energy vehicles, artificial intelligence, and consumer electronics will also bring new development opportunities to the semiconductor industry.

Finally, Huang Xin said that for investors who are optimistic about the development prospects of the semiconductor industry, they can share the dividends of the long-term development of the field through relevant fund products, especially ETFs. The unique listable trading mechanism of ETF products enables investors not only to take flexible swing operations to capture the opportunity for periodic rises, but also to make full use of the deviation between the trading price of the ETF secondary market and the net value of the fund to achieve instantaneous arbitrage. It is reported that Guolian An is issuing Guolian An CSI Semiconductor ETF, which is the first semiconductor ETF in China, and intends to achieve the layout of the semiconductor field by tracking the index of semiconductor products and equipment of the CSI Full Index.