The chief economist is no longer working!
Recently, the news of Jiang Chao's transformation into an investment floating loss has attracted the attention of the market.
In February this year, Jiang Chao left Haitong Securities to join Zhongtai Asset Management as the co-chief investment officer of Zhongtai Asset Management. In April, the first product managed by Jiang Chao was established. Wind data shows that as of December 20, the net unit value of the product was 0.8076 yuan, with a floating loss of 19.24% in 8 months.
Source: Wind
On December 27, Jiang Chao published an article on his personal public account looking forward to China's economy and capital market in 2022, for the economic situation, he summed up in eight words: economic restart, inflation to the end, "If these judgments are true, then next year's capital market should still be very promising." He stressed that in the next 10 or even 20 years, the main opportunity lies in China's capital market.
Transformational investment performance is in the spotlight
According to public information, Jiang Chao graduated from Tsinghua University with a doctorate in economics, joined the Haitong Securities Research Institute in 2013, and served as deputy director and chief economist of the institute.
In February 2021, Jiang Chao left Haitong Securities and transferred to Zhongtai Asset Management as co-chief investment officer. In April, the first product managed by Jiang Chao, Zhongtai Supernova No. 1, was established. Wind data shows that as of December 20, the net value of Zhongtai Super Nova No. 1 unit was 0.8076 yuan, with an 8-month floating loss of 19.24%.
The custodian of Zhongtai SuperNova No. 1 is China Merchants Bank, with a participation threshold of 1 million yuan and an establishment scale of 94 million yuan, of which Zhongtai Asset Management Company invested 13 million yuan.
On December 28, Zhongtai Asset Management responded to the China Securities News and China Securities Taurus reporter, saying: "Under the principle of investor appropriateness, the specific information of private equity products is not public information. But our company recognizes that investing is a long-term business and strives to provide an environment that matches this perception for investment managers and fund managers. ”
Focus on manufacturing and large consumer sectors with promising improvement
On December 27, Jiang Chao used eight words in the article to summarize his latest judgment on the economic situation in 2022.
In his view, it has been nearly two years since the outbreak of the new crown epidemic. Commodity prices have soared short-term over the past two years, but this phenomenon will not last long. In 2022, China's PPI is expected to fall sharply, but the CPI may rebound slightly, and the overall inflation pressure should be weaker than in 2021.
"So I summed it up in eight words, the economy restarted, inflation came to an end. If these judgments are true, then next year's capital market should still be very promising. Jiang Chao said.
If We understand China's economic structure from the perspective of money creation, where is the hope of restarting in 2022? Jiang Chao believes that it is still in the manufacturing industry and the large consumer industry that hopes to improve in 2022. Under the epidemic, residents' travel has been restricted, and the growth rate of related automobiles, clothing and other industries has fallen sharply. As the epidemic gradually subsides and the economy reopens, consumption will benefit significantly.
In addition, in the manufacturing industry, some high-tech industries have performed very eye-catchingly. In the first 10 months of this year, the output growth rate of new energy vehicles was close to 200%, the output growth rate of industrial robots and solar cells exceeded 50%, and the output growth rate of integrated circuits, metal cutting machine tools, and micro-electronic computers was about 30%. Reflected in the investment data, the investment growth rate of high-tech industries representing these industries in October was as high as 20.4%, technology has become an important driving force for economic growth, and green loans are expected to help the development of the technology industry.
China's capital market has long been full of promise
Jiang Chao said: "I made a long-term judgment, thinking that in the next 10 or even 20 years, the main opportunity lies in China's capital market. ”
"We're building a new economic cycle that puts money into capital markets and into good manufacturing and consumer companies." In Jiang Chao's view, on the one hand, the capital market can help the development of excellent science and technology and consumer enterprises, and provide residents with better technology and consumer products; on the other hand, the wealth of residents invested in excellent companies in the capital market can grow together with these high-quality enterprises to achieve wealth preservation and appreciation, thus forming a mutual promotion between the capital market and the real economy.
Based on this judgment, Jiang Chao believes that China's capital market will usher in a long-term era of prosperity in the future. This year's market is a structural market, and new hope is emerging. "I believe that China's capital market is full of hope in the long run."
Editor: Ya Wenhui
