China Economic Net, Beijing, June 2. In May, the A-share market style was rotated again. New energy, semiconductor and other track stocks "returned blood", while the real estate sector, which had performed better before, died. Guofu Financial Real Estate mixed A, Guofu Financial Real estate mixed C fell by 6.85% and 6.88% respectively.
Although the real estate sector has been rising in the past few months, the answer sheet handed over by Guofu Financial Real Estate's mixed A and C is not good. As of May 31, its cumulative decline in the first five months of this year was 11.42% and 11.59%.
Looking at the first quarterly report, as of the end of the first quarter, China Merchants Bank, Bank of Ningbo, Poly Development, Gemdale Group, Oriental Fortune, Industrial Bank, China Merchants Shekou, CITIC Securities, China Ping An, and Hangzhou Bank were mainly held in the mixed A and C of Guofu Financial Real Estate.It is not difficult to find that its heavy-holding stocks in the first quarter are more focused on financial industries such as banking, securities companies, and insurance, while the allocation of the real estate sector only involves three heavy-holding stocks: Poly Development, Gemdale Group, and China Merchants Shekou.
Reviewing the trend of various sectors this year, the real estate sector experienced a wave of independent market some time ago, but the financial sectors such as banks, brokerages, and insurance did not perform well. In the case of many heavy-holding stocks falling, the rise of 3 real estate stocks was only It has played a certain buffering role. Therefore, the overall yield of Guofu Financial Real Estate Mixed A and C in the year is not good.
The current fund manager of Guofu Financial Real Estate Mixed A and C is Zhao Yuye. He said in a quarterly report that the fund has always maintained a high position, adopted a strategy of "relatively balanced industry and concentrated high-quality stocks", and properly participated in the non-financial real estate industry. investment opportunities in high-quality stocks.In the first quarter, the fund allocated leading real estate stocks based on the logic of less damage to the balance sheet, and had good excess returns in the early stage. However, when the real estate risk appetite rose sharply at the end of March, it failed to grasp the market conditions of some real estate companies in time.
According to the data, Zhao Yuye worked in Guohai Franklin Fund Management Co., Ltd. as a researcher from February 2017 to September 2018, and worked in China Universal Fund Management Co., Ltd. as a researcher from August 2013 to February 2017.
(Editor in charge: Li Rong)
