In 2021, there will be a huge differentiation in A-shares, the traditional "lying win track" will have a large correction, and the high-prosperity track represented by carbon neutrality and new energy will rise.
Carbon neutral tracks are on the rise
Taking the theme of "carbon neutrality" as an example, as "carbon neutrality" and "carbon peaking" have risen to national strategies, the related sectors involving electric vehicles, photovoltaics, and wind energy have risen sharply this year.
The background is that in September 2020, China proposed at the United Nations General Assembly that it is necessary to "increase the strength of nationally determined contributions, adopt more powerful policies and measures, strive to peak carbon dioxide emissions by 2030 (carbon peak), and strive to achieve carbon neutrality by 2060".
Similar to the previous consumption and pharmaceutical tracks, "carbon neutrality" is also a high-quality track with long slopes and thick snow, which is a theme with large growth space, strong profitability, abundant cash flow, and first-mover advantages.
With the implementation of the concept of "carbon neutrality and carbon peaking", more and more investors have begun to accept the long-term green investment concept and want to find high-quality investment targets in it.
"Carbon neutrality" has become the focus of the layout of various fund companies' products, but how to choose the corresponding products is still very difficult.
Personally, I believe that "carbon neutrality" is a long-term trend in the future, and those industries with higher prosperity and higher certainty of performance growth may stand out in the future and become better performing presences in the concept of new energy, which poses a strict challenge to the industry precipitation of fund companies and alpha stock selection capabilities.
Comparatively speaking, I think the upcoming Carbon Neutral Theme Blend (Code A 013147 C 013148) from the Hui Tianfu Fund is attractive.
Focus on core industries and align with the general direction of the times
As a "stock selection expert", Hui Tianfu Fund is concerned, the carbon neutral theme fund to be issued has the following characteristics:
First, focus on core industries and represent the future direction.
Compared with many other "carbon neutral" theme funds that have been renamed halfway, the Huitianfu Carbon NeutralIty Fund is more pure, and from the design of the product, it can be seen that it is highly focused on the carbon neutral field.
The Fund defines listed companies related to the theme of "carbon neutrality" as follows: in the process of achieving carbon neutrality goals, listed companies that provide products, services, technologies and financial support for reducing and controlling carbon emissions and increasing and promoting carbon absorption, as well as related companies in the upstream and downstream industrial chains of these companies. It also includes relevant listed companies that meet carbon neutrality goals in the process of energy production, energy consumption, and energy restructuring.
It is understood that the fund intends to select high-quality listed companies with good fundamentals and growth potential under the premise of scientific and strict risk management, and strive to achieve medium- and long-term sustainable appreciation of fund assets.
From the perspective of the prospects of various fields, although the market has reflected on the theme of "carbon neutrality" in the past year, funds have also risen to a certain extent in entering this sector.
However, from the perspective of future prospects, the research of a number of securities companies shows that several industries covered by the theme of "carbon neutrality" have huge industrial growth space, and the era of rapid growth of the entire industry and excellent enterprises has just begun.
Data source: Soochow Securities, "2021 New Energy Medium-term Strategy - Carbon Neutral trend, the leader of the strong Hengqiang", 2021/7/8; Industrial Securities, "China, the United States and Europe lead the energy storage take-off, new energy to open the third track - why energy storage is so important series of reports (III)", 2021/7/25.
Second, Zhao Jian, the "first brother of new energy" of Huitianfu, is at the helm and deeply understands the industrial pattern.
The theme of "carbon neutrality", as an emerging track, industry trends, data indicators and stock price trends, sometimes fluctuate more, and the process of new technology maturity is often very tortuous.
This puts forward higher requirements for fund managers, as a fund manager, when investing in such companies, you must have a deep precipitation in the industry, have a long-term vision, and understand the future pattern of the industry.
Proposed fund manager Zhao Jian
The proposed fund manager of HuiTianfu Carbon Neutral Fund is Zhao Jian, who graduated from Tsinghua University with a master's degree in engineering and has 11 years of experience, including 5 years of investment experience.
Zhao Jian has long been deeply involved in new energy, photovoltaic and other "carbon neutral" theme related industries, with more than 10 years of investment and research accumulation, is one of the fund managers in the industry who have studied the new energy industry for a long time.
At the same time, he has worked in the world's top consulting companies, and has undergone professional training, has a deep understanding and insight into the industry context and pattern, can grasp the industry trend forward, and keenly perceive technological changes.
Have strong insight, foresight and determination.
The results have been reviewed by the custodian bank, and the index data is from WIND, as of 7/31/2021. The short operating time of China's funds cannot reflect all stages of the development of the stock market.
Since Zhao Jian took over the Hui Tianfu Environmental Protection Industry Equity Fund on May 20, 2020, he has returned 134.98% since his appointment (80.74% of the benchmark for the same period), ranking in the top 1/10 of the same kind in the past 1 year. (Ranking data from Haitong Securities, as of 2021/7/31, the same kind refers to active stock open-ended funds, the past 1 year (2020/8/1-2021/7/31) similar ranking 22/419, see Haitong Securities Fund Evaluation System. ）
Judging from the fund's positions, the leading companies that have focused on new energy, photovoltaic and other industries since last year show Zhao Jian's deep understanding and forward-looking grasp of the industry.
Third, Hui Tianfu Fund is a stock selection expert with long-term accumulation in the field of "carbon neutrality".
Hui Tianfu Fund has always been known for its outstanding stock selection strength, known as "stock selection experts", and attaches great importance to the management ability of active equity products.
On the one hand, Hui Tianfu requires its fund managers to be able to achieve "stable style, sustained performance and correct values" in their investments, and strive to provide investors with long-term and stable investment returns.
In terms of investment methods, hui tianfu fund managers strive to achieve relative balance in the industry, moderate concentration of individual stocks, timely dynamic adjustment, strict control of risks, and the pursuit of long-term balance in returns and risks.
On the other hand, Huitianfu Company has a deep investment research background in the field of carbon neutrality, and can provide all-round investment and research support for the selection of products.
For a long time, the layout and strength of Huitianfu in the field of consumption and medicine have been widely recognized by the market, but in fact, Huitianfu's investment in the carbon neutral field is also very large, and the foundation is quite deep.
"Carbon neutral" thematic investment is essentially a human resource-intensive effort. It needs senior fund managers who have experienced the baptism of the manufacturing cycle, and more importantly, team operations, only in this way can we ensure that fund managers can maintain long-term, close and efficient tracking of all aspects of the new energy vehicle industry.
Hui Tianfu is one of the earliest fund companies in the industry to set up environmental protection theme funds, has long been a continuous research investment in the new energy industry, in recent years, every year in the expansion of their own cycle manufacturing research team, has now formed a relatively scarce senior investment research team, the core members have experienced more than 2 rounds of industrial cycle baptism.
Hui Tianfu has a unique vertical integrated investment research organizational structure in the industry, and in addition to consumption, medicine and TMT, a new energy research group has been specially established, and the leader is fund manager Zhao Jian.
It is understood that at present, Huitianfu new energy team has nearly 10 members, all of whom are from engineering, solid and profound professional backgrounds, old, middle-aged and young people, perfect talent echelon construction, level view attaches great emphasis on discussion and mutual complement, emphasizes in-depth research on the industry, ensures the in-depth, forward-looking, timeliness and originality of research, and tries not to miss important opportunities.
Relying on team combat, continuous tracking, mutual empowerment, and long-term large-scale, systematic sharing of investment and research resources, hui tianfu fund managers can establish core investment and research advantages, laying the foundation for better net worth growth.
Fourth, invest in the future, lay out a good time for carbon neutral tracks, and look forward to multi-faceted opportunities.
It is understood that the Proposed Carbon Neutral Theme Blend (Code A 013147 C 013148), which is to be funded by Zhao Jian, will be issued on August 30.
Zhao Jian mentioned in a recent public interview that carbon neutrality can bring huge investment opportunities mainly because:
First, the industrial space is huge, which is the so-called incremental demand, such as energy substitution, which is a very large field, not only new energy vehicles, including photovoltaics, wind power, hydrogen energy, the state has begun to formulate policies to develop related industries, including energy storage, these directions are very important investment directions in the future.
Moreover, these fields are actually in the early stages of growth, and the future growth space is very huge.
Second, these industries are China's dominant industries, and they are also typical "longboard industries" in China's manufacturing industry that the state has vigorously supported in recent years and hopes to become bigger and stronger.
There are two types of investment opportunities in the manufacturing industry, one is the "long board industry" such as new energy, and the other is the so-called "short board industry" such as semiconductors.
"Longboard industry" China's leading companies can be said to be the world's best companies, this group of companies in the future can not only share the growth of the industry, but also enjoy the dividends brought by the increase in market share, which is one of the key investment directions.
Overall, the focus of the fund is to invest in some incremental industries represented by new energy substitution and carbon neutrality.
To sum up, hui tianfu fund's upcoming hui tianfu carbon neutral theme hybrid (code A 013147 C 013148), focusing on the "carbon neutrality" track, focusing on investing in areas related to carbon neutrality themes, giving full play to the alpha ability of fund managers, and seeking medium- and long-term appreciation of fund assets.
From the point of view of time, the recent adjustment of related sectors has also allowed fund managers to choose stocks and build positions more calmly, and the timing is also better.
Peter Lynch said, "Investing is about following the trend." ”
Now, with the national carbon peak in 2030 and carbon neutrality goals in 2060, the "carbon neutrality concept" is undoubtedly a big investment trend, representing the direction of future certainty.
At the same time, it should be noted that as an emerging track, it may have high elasticity and high volatility characteristics, and it also has higher requirements for professionalism. Although the certainty of long-term investment is high, short-term fluctuations are inevitable, and investment in such products should also pay attention to matching their own risk appetite, while choosing experienced fund managers and strong fund companies.
For example, hui tianfu carbon neutral theme hybrid fund is undoubtedly a better choice and can be focused on.
Disclaimer: Fund research and analysis do not constitute investment advice or advisory services, nor investment advice. The remarks posted on this account only represent personal views and are not used as a basis for trading. The Fund's investments are risky and the Fund's past performance is not indicative of its future performance. Please carefully read the relevant legal documents and risk disclosure statements, make rational investments based on your own risk tolerance, and bear the risk of investment funds yourself.
Risk Warning: The fund is risky and the investment needs to be cautious. This material is promotional material only and is not intended as any legal document. The short operating time of China's funds cannot reflect all stages of the development of the stock market. The fund manager undertakes to manage and use the assets of the fund in good faith, diligence and due diligence, but does not guarantee that the fund will be profitable or guarantee a minimum return. Past performance of the Fund is not indicative of future performance and the performance of the Manager's other funds and the past performance of its investment personnel are not indicative of its future performance. Investors should carefully read legal documents such as the Fund Contract, The Prospectus and the Product Information Summary to learn more about the product information. Any securities research reports or comments covered in this promotional material may not be forwarded in any form without the prior written permission of the publisher. The views or opinions of the relevant research reports are for reference only and do not constitute any investment advice or advice, or any express or implied guarantee or commitment, and the reader should read or refer to the relevant views and opinions carefully. Hui Tianfu Carbon Neutral Hybrid (hereinafter referred to as "the Fund") may invest in Hong Kong Stock Connect, of which the proportion of investment in Hong Kong Stock Connect stocks shall not exceed 50% of the equity assets. The Fund's investment scope includes Hong Kong stocks and will face unique risks due to differences in investment environment, investment targets, market systems and trading rules. The Fund is a medium risk level (R3) product, suitable for investors who have been assessed by the customer's risk tolerance level as balanced (C3) and above, and the customer-product risk level matching rules are detailed on the official website of Hui Tianfu. When the consignment agency subscribes, the risk rating rules of the consignment agency shall prevail. This product is issued and managed by Hui Tianfu Fund Management Co., Ltd., and the distributor does not assume the responsibility for investment, redemption and risk management of the product. The specific release time is subject to the announcement. Zhao Jian began to manage the environmental protection industry mix of HuiTianfu from 2020/5/20, and the annual performance and benchmark performance of 2016-2020 were 9.00%/-13.00%, 4.34%/-0.71%, -36.70%/-31.22%, 23.49%/17.05%, 95.29%/42.89%, and the performance and benchmark performance of the first half of 2021 were 20.96%/18.91%, respectively, and the data came from the annual reports of the fund. Second quarter 2021, as of 2021/6/30.