Recently, the market has ushered in a clear rebound.Among them, the growth sector has increased significantly, and the managers of growth investment funds are riding against the wind, attacking everywhere, looking for market opportunities.According to the data, many "growth" fund managers have recently intensively researched individual stocks, and many fund institutions have voiced their optimism about the continued performance of the growth sector.
walk against the wind
The data shows that after standing at 3300 in the previous week, the Shanghai Composite Index has fluctuated at 3300 for 8 consecutive trading days.Last week, the Shanghai Composite Index closed at 3349.75 points, up 0.99%, and the decline during the year has converged to within 8%.Growth stocks outperformed blue chips significantly.Among them, the ChiNext Index rose 6.29% last week, and the Shenzhen Component Index rose 2.88%. In comparison, the CSI 300 and the Shanghai 50 rose less than 2%.
In terms of specific sectors, the new energy vehicle sector led by a large margin last week.Among them, the CITIC Power Equipment and New Energy Index rose 7.86% last week, and the CITIC Auto Index rose 6.25%.In addition, the defense industry, home appliances, consumer services and other sectors also rose by more than 4%.In terms of decliners, cyclical stocks were fully adjusted last week.The CITIC coal index fell nearly 6%, the petroleum and petrochemical index fell 4.45%, and the non-ferrous metal index fell 3.01%.
Under the circumstance that the market style is obviously biased, fund managers are even more clearly attacking the growth sector, and even fund managers invest in growth stocks when the market trend has not yet been established, which is a head start.
Statistics show that Gao Nan, director of equity investment of Hengyue Fund, investigated a number of small and medium-sized growth listed companies in the market bottom area in mid-to-late April, involving listed companies including Yuntu Holdings (002539), Ziguang Guowei (002049), China Testing (300012), Jolywood (300393), International Medicine (000516), Sifangda (300179), etc.
Specifically, Yuntu Holdings is a leading enterprise in China's phosphate and compound fertilizer industry. Against the background of global energy shortage and repeated epidemics, it carries the national chemical fertilizer commercial reserve and plays an active role in stabilizing the price and supply of the spring ploughing fertilizer market.Since the beginning of this year, the price of phosphate fertilizer has been high, and the new energy industry has driven the price of lithium iron phosphate raw materials to rise sharply, boosting the price of upstream phosphate rock.Ziguang Guowei is a domestic chip design leader and a major supplier of special integrated circuits. It continues to benefit from downstream heavy volume and is also one of the representative companies in the digital economy industry.
Intensive research on growth companies, or Gao Nan's important support for seizing this round of market opportunities.Data shows that since the market rebounded on April 26, as of June 24, the net worth of Hengyue Research Select A and Hengyue Core Select A managed by Gao Nan rose by 30.22% and 29.89% respectively.
The market outlook is clear
In fact, the recent rapid rebound of growth investment has not only achieved the performance of Gao Nan alone.Data shows that since the end of April, many fund products managed by growth-style fund managers have quickly recovered the "lost ground" of the fund's net value in the early stage.
Fund institutions have a clear attitude towards investment opportunities in late-stage growth sectors.
Shen Chao, a macro strategist at HSBC Jintrust Fund, said that since May, with the significant improvement of the epidemic and a series of domestic economic support policies, the market has accelerated the restoration of earnings expectations and valuations.Looking ahead to the second half, the market in the second half should be friendlier than the first half in terms of earnings, valuation and liquidity.Investors may be able to pay attention to related growth sectors that have undergone large adjustments in the early stage and continue to rise in prosperity, such as new energy; the liquor sector, which is expected to be the first to be repaired after the epidemic eases; in addition, if real estate sales can be further improved, the real estate industry chain may also exist. related opportunities.
China Merchants Fund said that investors' expectations for economic recovery have further improved, and risk appetite has continued to recover.Next, the market investment style is expected to shift from performance certainty to high performance growth.A shares may continue to move out of the independent market.With the expected improvement of the domestic economy, investors' risk appetite continued to recover.
Of course, in the rebound, but also need to maintain a certain vigilance.
"Looking back, the core factors affecting the market are still the speed and intensity of domestic economic recovery, whether policy support will be further loosened, and whether the real estate and consumption industries can continue to stabilize and repair. In addition, whether global inflation can fall back , it will also have an important impact on the overall performance and style of A-shares. In the context of the uncertainties in the above factors, the market rebound may not be achieved overnight, and investors still need to pay attention to the risk of market volatility. "Shen Chao said.
