After the return of the eleventh long holiday, the A-share market fluctuated sharply, but it could not stop the fund from "going up to the new".
On October 13, the ONE-year holding period fund was issued by Zhou Weiwen, chairman of the Equity Investment Decision Committee of CEIBS Fund and investment director. The fund is also the first new product issued by Zhou Weiwen in the past 2 years. At the same time, well-known fund managers such as Tan Li of Harvest Fund, Fei Yi of GF Fund, Li Yongxing of Yongying Fund, Zhan Jia of Everbright Prudential Fund, and Cui Jianbo of Founder Fubon will issue new products in the near future.
Well-known fund managers "on the new"
Wind data shows that as of October 12, 97 new funds (A/C shares are calculated separately, the same below) since October have entered the fundraising period. In addition to the new funds entering the offering period, a total of 89 new funds will open in the following period of October, bringing the total to 186.
Well-known fund managers have "launched the new", including Ceibas Fund Zhou Weiwen, Harvest Fund Tan Li, GF Fund Fei Yi, Bosera Fund Sha Wei, Huiquan Fund Liang Yongqiang, Everbright Prudential Trust Fund Zhan Jia, Cinda Australia Bank Fund is Xingtao, Yongying Fund Li Yongxing, Founder Fubon Cui Jianbo, etc. will launch new products.
In the first three quarters of this year, the market performance was not satisfactory, why did the big guys invariably choose this period of release, and what signal was sent?
CEIBS funded: "In the long run, there are many good buying opportunities in the market. After two years of structural bull market, the overall valuation of the stock market is not low, there are some structural overvaluation sectors, there are also reasonable or undervalued sectors, there are structural opportunities. In addition to the emerging industries with high prosperity in the future, after the recent market adjustment, the valuation of industries that have been greatly affected by the epidemic, such as catering, hotels, tourism, aviation, banking, and real estate, has also been in a low position. ”
"In the volatile market, the unique advantages of the new fund are also conducive to improving the investment experience. In the volatile market, the new fund does not have to maintain a high position during the opening period, and the opening period of no more than 6 months allows the fund manager to gradually allocate the proportion of fund assets to the scope specified in the contract. If the market shock is down, the new fund can use the opening period to control the position, improve the holding experience after the investor buys, and is also expected to complete the position opening at a lower cost. The China Europe Fund said.
Image source: CEIBS Fund
The fund issuance market is heating up
Wind data shows that as of October 12, of the 97 funds that have entered the fundraising period, active equity funds still account for the majority. Specifically, there are 30 partial stock hybrid funds, accounting for 30.93%; 6 ordinary equity funds and QDII equity funds; 24 partial debt hybrid funds, pure debt funds and mixed bond funds, accounting for 24.74%; passive index funds and 6 enhanced index funds.
Taking the date of establishment of the fund as the statistical standard, Wind data shows that in the first three quarters of this year, a total of 1387 new funds were issued, with an issuance share of 2.35 trillion shares, of which the issuance shares in the first quarter, the second quarter and the third quarter were 1.07 trillion, 555.525 billion and 726.749 billion, respectively. The share of issuances in the third quarter shrank by about 32% compared to the first quarter. However, judging from the current issuance situation in the fourth quarter, the fund issuance market is picking up.
In addition to the layout of conventional product types, some fund companies are also expanding new financial management tools, such as interbank certificate of deposit index funds. According to incomplete statistics, more than 40 fund companies reported interbank certificate of deposit index fund products in batches, including Southern Fund, Huaxia Fund, Penghua Fund, Wells Fargo Fund, China Merchants Fund, Ping An Fund, CICC Fund, AVIC Fund, etc.
Focus on investment opportunities in the transition of the economy
In terms of follow-up investment layout, Zhou Weiwen said that he will focus on two types of investment opportunities in economic transformation, the first is long-term investment opportunities in emerging industries such as new energy, automatic driving, Internet of Things, AI, cloud computing, innovative drugs, innovative medical devices, and medical services that will continue to improve in the coming years. The second category is industries with low market capitalization and prosperity, such as catering, hotels, tourism, aviation, gaming, banking, real estate and other industries affected by the epidemic.
Zhan Jia believes that it is optimistic about the four new directions related to innovative life. The first is the innovative consumption scenario. Driven by "communication intelligence + data intelligence + hardware intelligence", China's consumption pattern is undergoing a drastic iterative evolution, and 5G and cloud computing, big data, artificial intelligence and other technologies are deeply integrated, which will create and play a huge value, bringing unlimited imagination space to new products, new services and new models. The second is personalized health care services, including core asset leaders, innovative drugs, medical devices, etc. that are worth strategically allocating. Thirdly, the scale of China's service robot market has expanded very quickly, and in recent years, it has become a bright spot in the application field of the robot market. Focus can be placed on home service robots and professional service robots. Finally, low-carbon life drives demand change at the consumer end. Under the blessing of local policies, green buildings will achieve rapid development in the next five years, and they are optimistic about the huge potential of the development of the household photovoltaic industry.
Editor: Xu Xiaohong