Summary of the week
Market Overview: Last week (May 6 to May 10) A-shares were the first week after the holiday, and the index opened higher and then fluctuated upward, closing above 3,160 points on Friday, a new high since November last year. The market sentiment was relatively active throughout the week, with the overall turnover remaining above 900 billion during the holiday, and the net inflow of northbound funds was about 4.8 billion. The Shanghai Composite Index rose 1.60%, the Shenzhen Composite Index rose 1.50%, and the ChiNext Index rose 1.06%.
Industry sector: Wind level 1 rose by 1.80% on average last week, and the Wind Top 100 Concept Index rose by 86%. In terms of sectors, 84% of the sectors have achieved positive returns, agriculture, forestry, animal husbandry and fishery, national defense and military industry, and building materials have performed relatively well, up 5.70%, 4.67%, and 4.53% respectively, and coal, non-ferrous metals, and basic chemicals have all risen slightly, while the TMT growth sector is under obvious pressure, and media, communications, and computers have generally entered the adjustment, down 1.98%, 3.15%, and 3.24% respectively.
Fund issuance: A total of 24 funds were issued last week, including 13 equity funds, 3 hybrid funds, 6 bond funds, 1 QDII fund, and 1 FOF fund, with a total of 24.573 billion shares.
Fund Performance: Wind All-Base Index rose 1.05% last week. Among them, the Wind Common Equity Fund Index rose 1.83%, the Wind Partial Equity Mixed Fund Index rose 1.88%, and the Wind Bond Fund Index rose 0.26%.
Weekly market
01
A review of global asset classes
In terms of major types of assets, affected by the slowdown in international geopolitical conditions, global equity is strong as a whole, with the three major stock indexes in the United States rising by more than 1%, and the major indices of Britain, France and Germany also rising by more than 2%, while emerging markets are relatively inferior to developed markets, and major indices such as India, Vietnam and Brazil are mixed. Global commodities rose more and fell less, copper, aluminum, iron ore, natural gas performed better, gold and silver and other precious metals remained strong. The U.S. dollar index edged higher, while non-U.S. currencies were mixed.
Chart 1: Global asset class returns
Unit: %
Source: Wind
02
Review of the domestic fund market
Chart 2: Mutual fund market index performance
Source: Wind
Last week, the market sentiment was relatively active, with the overall turnover remaining above 900 billion, and the net inflow of northbound funds was about 4.8 billion, of which the single-day net inflow on Monday exceeded 9 billion.
Chart 3: Equity Market Sentiment Tracking
Source: Wind
Note: The colored markers of the Shanghai and Shenzhen Stock Exchanges are the 25%, 50% and 75% quantiles of the turnover within the date range of the horizontal axis statistics, which are only used for static display and do not contain any investment advice
In terms of industries, the average increase of Wind Level 1 last week was 1.80%, and the Wind Top 100 Concept Index rose by 86%. In terms of sectors, 84% of the sectors have achieved positive returns, agriculture, forestry, animal husbandry and fishery, national defense and military industry, and building materials have performed relatively well, up 5.70%, 4.67%, and 4.53% respectively, and coal, non-ferrous metals, and basic chemicals have all risen slightly, while the TMT growth sector is under obvious pressure, and media, communications, and computers have generally entered the adjustment, down 1.98%, 3.15%, and 3.24% respectively.
Chart 4: Wind Tier 1 Sector Index performance
Source: Wind
Note: P/E ratio = total market capitalization of constituent stocks on the day / total net profit (TTM) of constituent stocks, when the net profit (TTM) of constituent stocks is negative, the P/E ratio is 0; Quantile is the distribution point of a certain value in the array in which it belongs, which can be simply understood as "what is the position of the current valuation in history" for the valuation distribution.
03
Review of the domestic bond market
Last week, the Treasury bond futures index (CFFEX10 year) rose by 0.27%, of which the short-term fund spread (R007-DR007) continued to narrow, and the medium and long-term interest rates remained low.
Chart 5: Representative bond yield tracking
Source: Wind
04
Fund issuance
Last week, a total of 24 funds were issued, including 13 equity funds, 3 hybrid funds, 6 bond funds, 1 QDII fund, and 1 FOF fund, with a total of 24.573 billion shares.
Chart 6: Issuance in the mutual fund market
Source: Wind
Previous Review
01
In this way, regular investment in A-shares can outperform the S&P 500 [with case]
02
Over/Small Rotation Strategy: Annualized Return Over 24%
03
Is the dumbbell strategy the "natural choice"?
Risk Disclosure Letter for Publicly Offered Securities Investment Funds
Dear Investors,
The market is risky, and investors need to be cautious. A publicly offered securities investment fund (hereinafter referred to as a "fund") is a long-term investment tool, and when you purchase fund products, you may not only enjoy the income generated by the fund investment, but also bear the losses caused by the fund investment.
Before you make an investment decision, please read the fund contract, fund prospectus, risk disclosure letter and other legal documents of fund products in detail, familiarize yourself with the risk-return characteristics and fund characteristics of the fund, and evaluate your own risk tolerance based on your own investment objectives, investment experience, asset status and other factors, and make investment decisions rationally and prudently.
In accordance with relevant laws and regulations, Shanghai Wind Fund Sales Co., Ltd. makes the following risk disclosures:
1. Infrastructure funds have different risk-return characteristics from public funds that invest in stocks or bonds, and the expected risk is lower than that of equity funds and higher than that of bond funds and money market funds. Investors should fully understand the investment risks of infrastructure funds and the risk factors disclosed in this prospectus and make prudent investment decisions.
2. The fund may face various risks in the process of investment and operation, including market risks, as well as the fund's own management risks, technical risks and compliance risks.
3. You should fully understand the difference between regular fixed investment and lump sum deposit and withdrawal of funds. Regular investment is a simple and easy investment method to guide investors to make long-term investment and average investment costs, but it cannot avoid the inherent risks of fund investment, cannot guarantee investors to obtain returns, and is not an equivalent financial management method to replace savings.
4. Risk disclosure of special types of products:
1. If the product you purchase is a pension target fund, the product is not principal-protected and may incur losses. Please read the specific risk disclosure carefully to confirm the product features.
2. If the product you purchase is a money market fund, the fund manager does not guarantee that the fund will be profitable, nor does it guarantee a minimum return.
3. If the product you purchase invests in overseas securities, in addition to the general investment risks such as market fluctuation risks similar to those of domestic securities investment funds, the funds are also subject to special investment risks faced by overseas securities market investments, such as exchange rate risks.
4. If the product you purchased operates in a regular open mode or the fund contract stipulates a minimum holding period for fund shares, you will face liquidity constraints due to the inability to redeem or sell fund shares during the closed period or minimum holding period.
5. The fund manager undertakes to manage and use the fund assets in good faith, diligence and responsibility, but does not guarantee that the fund will be profitable, nor does it guarantee the minimum return. Fund investment follows the principle of "buyer's responsibility", and after making an investment decision, the investment risk is borne by you.
Shanghai Wind Fund Sales Co., Ltd
Disclaimer: This article is for informational purposes only and does not constitute any investment advice. Past performance of the fund and its net worth or the performance of other funds managed by the fund manager are not indicative of its future performance. Wind Fund and related personnel do not promise that any investment income or investment principal will not be lost. Wind Fund and related personnel shall not be liable for any loss caused by the use of this article or its content or other reasons related thereto, as well as any direct or indirect loss caused by the publication of this article or its content, or due to errors in the communication of facts or analytical data. The performance data of the Fund cited in this article is derived from information disclosed by the Manager and reviewed by the Custodian, including but not limited to the Fund's periodic reports.