Exclusively produced by Uncle Wolf, in April 2024, "Top 10 Monthly Returns of Public Funds" is here. In April, the global asset allocation turned around, the yen continued to depreciate, the Japanese stock market was harvested by international capital, and the international hot money that ran out of the Nikkei 225 index poured into the Hong Kong stock market, which was seriously over-falling, and the Hang Seng Index has been out of the 10-day streak since April 22, setting a record for the longest consecutive rise since 2018.
Cheap is really the last word in investment. Hong Kong stocks turned over and sang, the QDII list has changed greatly, and the list of other fund subdivisions has also changed a lot, let's take a look——
Uncle Wolf commented
In April, the A-share market as a whole showed a narrow range of shocks, the industry rotated rapidly, the equity investment operation was "under great pressure", and the best TOP10 list changed greatly, with Wanjia and Nuoan's funds that led last month falling behind, Dongcai and Da Mo's two digital economy funds, and Huisheng Leading Selection, which mainly invested in Chinese stocks, continued to lead, reflecting a rare performance continuity.
It should be noted that these three funds are all mini funds, especially the scale of Huisheng Leading Preferred was only about 1 million yuan at the end of the first quarter. If a large amount of subscription is attracted because of good performance, the operation of the fund manager may be affected by the large increase in scale.
Among the worst TOP10, Jinyuan Shun'an Industrial Selection, Furong Value Selection, Oriental Alpha, and Hang Seng Qianhai Xingxiang ranked at the bottom for the second consecutive month. A fund like this that continues to be at the bottom must have a major problem with the fund manager's mentality or strategy, and it is almost impossible to turn around in a market that lacks systemic opportunities.
Uncle Wolf commented
The top of the top 10 list was won by Yongying Gold Industry ETF, with a net value increase of about 5 percentage points in a single month. Can gold funds win forever? The long-term logic that supports gold's rally, such as the credit crisis of the paper money system, is still there. The short-term market is more concerned about the rapid interest rate cut of the US dollar, and the international gold price has turned from continuous rise to shock. The newly listed Bosera, Dongcai, and Tianhong Household Appliance ETFs have the same investment logic as the China Universal Energy ETF and a number of state-owned enterprise win-win ETFs that have been on the list for two consecutive months.
The list of the worst TOP10 is as stable as ever, with ETFs tracking industry sectors such as the BSE 50, the Science and Technology Innovation Board, and biopharmaceuticals at the bottom for the fourth consecutive month.
Uncle Wolf commented
In April, there was a big event in the bond market: the central bank was interviewed by the Financial Times, reminding investors that long-term bonds have long duration, and investors need to pay close attention to interest rate risk. 30-year Treasury futures fell sharply for three trading days.
In a word, the central bank's bond base ranking has been reshuffled. In March, the Pengyang 30-year treasury bond ETF, which was the leader of the best TOP10, fell behind, and the southern Xingli, which was heavily invested in corporate bonds, rushed to the top of the list. Ranked No. 2, IB Yasuhiro paid attention to controlling duration and balanced allocation, did not bet heavily on long-term treasury bonds, and survived the fluctuations of the treasury bond market. In addition, Western Lide Xinhong, Jiangxin Qifu, Xinhua Fengli, etc. are also frequent visitors to the best TOP10, and the yield has increased compared with the list in March, reflecting the stable characteristics of the high-quality bond base.
The worst TOP10 is even more familiar, and the convertible bond funds of Qianhai Open Source, Huaxia, China Shipping, and Great Wall continue to be at the bottom. Uncle Wolf still has the old saying: convertible debt is a double-edged sword, and if you don't play well, you will hurt yourself.
Uncle Wolf commented
In April, the situation in the overseas market changed abruptly, the Japanese stock market turned downward from a historical high, and the Nikkei 225QDII, which was on the list of the best TOP10 in March, fell behind, while Hong Kong stocks finally turned over. Dacheng Hong Kong Stock Selection and Dacheng China Advantage, two QDIIs that mainly invest in Hong Kong stocks, have sprung up, and the return rate of the year has won the first and second places respectively on the list for the first time, and the heavy positions in gold, crude oil, tourism, finance, Internet and other assets have stepped on the upward rhythm.
However, for investors who invest in Hong Kong biomedical funds, the hard times will continue to endure. The top five QDIIs in April's annual return were exactly the same as those in March, with the Hang Seng Biotech ETFs of China Universal Wealth, China Southern and ChinaAMC, as well as the Bosera Hang Seng Healthcare ETF.
Biomedicine is a very money-burning industry, and the US dollar continues to maintain high interest rates, which will suppress the performance of the biomedical industry in the United States, and then restrict the performance of biomedical stocks in the Hong Kong stock market.
(Note: Investment is risky, and the views are for reference only and should not be used as a basis for decision-making.) ）
Source: Qingdao Financial Daily/Home News Old Wolf Finance