Weekly Headlines //
- Bank Wealth Management Fancy "Nuggets"
- High-dividend assets become a "safe haven" for insurance funds
- The quantitative index growth strategy of small and medium-sized market capitalization has been cold in stages
- The 16 measures of the China Securities Regulatory Commission have made precise efforts to support scientific and technological innovation
- The preliminary real GDP of the United States in the first quarter was 1.6%, the lowest in two years
- The global hedge fund industry reached a record high in the first quarter
Domestic Investment News //
1. Bank wealth management pattern layout gold. With the sharp rise in gold prices, a number of wealth management companies have deployed gold, mostly based on bond assets, and at the same time allocated financial derivatives such as Au9999 on the Shanghai Gold Exchange, gold ETFs, and over-the-counter options linked to gold. Industry insiders believe that wealth management companies have launched gold-linked wealth management products to obtain the bottom income of the bond market, and can obtain blessing income when the price of gold rises, but there are also certain restrictions. Gold prices have been strong during the year, and may be prone to rise and fall in the future.
2. The quantitative index growth strategy of small and medium-sized market capitalization has been cold in stages. Affected by factors such as the continued strength of high-dividend sectors and the continuous preference of funds for large-capitalization styles, the overall pressure on small and mid-cap stocks in the A-share market has been under pressure recently, and the performance of related indices has been unsatisfactory, and the characteristics of periodic outflow of funds are obvious. A number of channel institutions and quantitative private equity managers said that the cyclical characteristics of the stock market itself and the "mean reversion law" are unavoidable, and the small and medium-sized market capitalization stock index has underperformed the large-capitalization index for a long time since the beginning of this year.
3. The 16 measures of the China Securities Regulatory Commission have made precise efforts to support scientific and technological innovation. In order to implement the "Several Opinions on Strengthening Supervision and Risk Prevention and Promoting the High-quality Development of the Capital Market", better serve scientific and technological innovation, and promote the development of new productive forces, the China Securities Regulatory Commission has recently formulated and issued the "Sixteen Measures for the High-level Development of Capital Market Services for Science and Technology Enterprises", which puts forward supportive measures from listing financing, mergers and acquisitions, bond issuance, private equity investment, etc. Industry insiders pointed out that the "Measures" put more emphasis on precise support for technology enterprises, which will become an important direction of capital market reform.
4. Investment income is under pressure, and high-dividend assets have become a "safe haven" for insurance funds. The downward trend in market interest rates and the impact of capital market fluctuations have generally put pressure on the investment income of insurance funds. Against this backdrop, insurers are actively adjusting their investment strategies to respond to changes in the market environment, and their equity investment trends have attracted much attention from the market. On the whole, there is still room for improvement in the proportion of equity investment in insurance capital, and the management of many listed insurance companies has publicly stated that they will give full play to their long-term capital advantages and focus on high-dividend stocks.
International Investment News //
1. The preliminary real GDP of the United States in the first quarter was 1.6%, the lowest in two years. On Thursday, data released by the U.S. Department of Commerce showed that U.S. real GDP grew by 1.6% on an annualized quarterly basis in the first quarter, far less than market expectations of 2.5% and a sharp slowdown from 3.4% in the fourth quarter of last year. The Federal Reserve is due to meet next week and is expected to keep interest rates at two-decade highs, and traders will analyze Fed Chair Jerome Powell's comments for the latest clues on easing policy.
2. The scale of the global hedge fund industry reached a new high in the first quarter. According to the report, the global hedge fund industry reached a record $4.3 trillion in assets in the first quarter. The industry added $190 billion in assets in the first quarter, marking the sixth consecutive quarter of growth, the data showed. The performance of hedge funds was the main driver of asset growth, with the HFRI Fund Weighted Composite Index showing that hedge funds rose by 4.52% in the first quarter.
This Week's Market //
01 This week's major stock indexes and industry review
On Friday (April 26), the market opened higher and strengthened unilaterally throughout the day, with the GEM index leading the gains. On the disk, in the afternoon, brokerages and real estate joined the long army, and the brokerage stocks that fluctuated at a high level in the morning ushered in the intervention of large funds, and nearly 10 brokerage stocks rose to the limit. This week, the Shanghai Composite Index rose 0.76%, the Shenzhen Component Index rose 1.99%, and the ChiNext Index rose 3.86%.
Data source: Wind Investment Advisory Terminal
Note: The statistical period is 2024/4/22-2024/4/26
02 Fund market
Over the past week, the QDII fund index, common equity fund index, and partial stock hybrid fund index have performed better, with yields of 2.9%, 2.6%, and 2.34% respectively. The Alternative Investment Fund Index, the Medium and Long-Term Pure Bond Fund Index and the FOF Fund Index performed poorly, falling by 1.41%, 0.08% and 0.05% respectively.
Data source: Wind Investment Advisory Terminal
Note: The statistical period is 2024/4/22-2024/4/26
03 Issuance of public funds
This week, a total of 46 funds were issued in the whole market (only one was displayed for different shares of the same fund), specifically, 18 equity funds, 15 bond funds, 8 hybrid funds, 3 FOF funds, and 2 QDII funds.
Data source: Wind Investment Advisory Terminal
Note: The statistical period is 2024/4/22-2024/4/26
04 This week's fund market review
05 Bank wealth management market
As of April 26, the total number of new bank wealth management products this week was 684, of which 674 were newly issued and 674 were established this week, with an establishment scale of 54,716.62 million yuan, a decrease of 65.34% compared with last week.
Issuer status
Data source: Wind Investment Advisory Terminal
Note: The statistical period is 2024/4/22-2024/4/26
Next Week's Economic Calendar //