Recently, a number of well-known public and private equity institutions such as HSBC Jintrust Fund and Qinghequan Capital held a mid-term strategy meeting to "arrange troops" for investment in the second half of the year.Lu Bin, a well-known fund manager, and Liu Qingshan, a private equity manager of tens of billions of dollars, both expressed their optimism about the performance of the Chinese market in the third quarter.
Lu Bin believes that the internal and external environment of the A-share market in the third quarter is relatively good, and the market may be "like a summer flower".Liu Qingshan predicted that China's economy will continue to recover and the underlying logic will improve, and A-shares may be "outstanding" in the global stock market.
The Chinese market is expected to flourish
A few days ago, the tens of billions of private equity firm Qinghequan Capital held a mid-term investment strategy meeting. Liu Qingshan, the founder of Qinghequan Capital, said that he is optimistic about the Chinese market.
Liu Qingshan believes that the reason for the recent increase in foreign investment in Chinese assets is that, from a global perspective, the underlying logic of the Chinese economy is stronger, the Chinese market space is broad enough, the potential for domestic demand is large, the dependence on external raw materials is lower, and the ability to resist risks is stronger.Moreover, China has the advantages of a complete range of industries and a rich industrial chain.Therefore, the current global economic environment similar to stagflation is beneficial to China's economic breakthrough.In the medium and long term, the allocation ratio of foreign capital to Chinese assets is relatively low, and the trend of increasing the allocation of A shares in the future is more certain.
Regarding the interpretation of the market in the second half of the year, he said that the current economic uncertainty in the United States has increased. Since the end of April, driven by multiple factors, China's economy has continued to recover, and the global status of new energy and high-tech industrial chains has continued to rise. Domestic demand sees Bottom pick up.The certainty of China's economy is relatively strong, and the external demand remains inertial and domestic demand is stimulated. The further recovery of the domestic economy is worth looking forward to.
Lu Bin, a well-known fund manager with a management scale of over 30 billion yuan, said at the HSBC Jintrust Fund Summer Strategy Conference that the market in the third quarter may be "splendid as summer flowers"."Due to the relatively loose domestic policy environment and the strengthening of economic recovery, overseas markets have entered a period of relative stability after several adjustments to the Fed's policy expectations, and A-shares have accumulated a certain profit-making effect after more than two months of rebound, and the main line of the market is clear. , it is not ruled out that there will be continuous incremental funds entering the market in the third quarter." Lu Bin said.
Support the main line of growth
Since the end of April, the A-share market has continued to rebound, the performance of public funds has rebounded, and the net value of many new fund products has "recovered lost ground".Data show that as of July 6, among the 236 active equity funds established this year, 197 funds have achieved "positive returns", of which 51 funds have a return rate of more than 10%.The performance of some "old" funds managed by well-known fund managers such as He Shuai, Qiu Dongrong, Xiao Nan and Tao Can also generally stabilized and rebounded.
However, some industry-themed funds are still at a low point in performance.A well-known fund manager sighed after participating in a strategy meeting: "There are not many people listening to the medicine session of the strategy meeting, and there are far fewer companies showing their faces than before."
When it comes to specific investment directions, institutions are optimistic about various tracks, but they have formed a consensus on the investment opportunities of the main growth line.Lu Bin believes that the new energy industry, especially the smart electric vehicle industry chain, is likely to become the new main line of the market.In addition, we can further focus on high-quality growth industries such as medicine, semiconductor, and TMT.
"In the future investment, we will increase the coverage of the industry." Liu Qingshan said that we will focus on the food and beverage industry, enterprises related to formula granules of traditional Chinese medicine, offshore wind power and new energy operators in the new energy industry, and chemical materials. Refrigerants and other segments.
Yu Liyong, chief allocation officer of China Merchants Fund and director of the fourth investment management department, said at the strategy meeting that the market style in the second half of the year may be relatively balanced.From a long-term perspective, the electrification and intelligence of photovoltaics and automobiles may be the main line of the market.With the economic recovery, there are investment opportunities in construction materials, aviation tourism, food and beverage, sports and leisure products and other industries.
(Editor in charge: Kang Bo)
