Recently, a number of well-known public and private equity firms held a mid-term strategy meeting to "arrange troops" for investment in the second half of the year.
Liu Qingshan, the head of the 10 billion private equity firm Qinghequan Capital, said that China's economy continues to recover and the underlying logic is improving, and A-shares may stand out in the global stock market.
optimistic about the market outlook
Since the end of April, A shares have continued to rise.A few days ago, the 10 billion private equity firm Qinghequan Capital held a mid-term investment strategy meeting. The founder Liu Qingshan made it clear that he is optimistic about the Chinese market.
Liu Qingshan believes that the recent increase in foreign investment in Chinese assets is due to the fact that the underlying logic of the Chinese economy is stronger, the Chinese market space is broad enough, the domestic demand potential is large, the dependence on external raw materials is lower, and the ability to resist risks is stronger.Moreover, China has the advantages of complete industrial categories and rich industrial chains.Therefore, the current stagflation-like global environment is conducive to breaking the Chinese economy.In the medium and long term, the allocation of foreign capital to RMB is relatively low, and the trend of foreign capital 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 dislocation between China and the United States, the US economy continues to decline, the Chinese economy has been repaired under the help of multiple factors since the end of April, and the new energy and high-tech industrial chains continue to occupy global positions. Rising, domestic demand bottomed out.The certainty of China's economy is relatively strong, and external demand remains inertial and domestic demand is stimulated. The strength of domestic economic recovery 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 continued strengthening of economic recovery, overseas markets have entered a relatively stable period after several interest rate hike expectations have been adjusted, and A-shares have accumulated profit-making effects after more than two months of rebound. The main line of the market is clear and cannot be ruled out. There will be continuous incremental funds entering the market in the third quarter." Lu Bin said.
Pay attention to the new energy track
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 smart electric vehicles, is likely to become the main line of the market once again.In addition, focus on high-quality growth industries such as medicine, semiconductor, and TMT.
"In the following operations, we will increase the coverage of the industry and reduce the fluctuation of net value. In addition, we have also introduced a financial engineering team to try to make the operation more complete." Liu Qingshan believes that the performance of the mid- and downstream industries will be restored in the second half of the year. The ability is more certain, and it will focus on the food and beverage industry, enterprises related to formula particles in traditional Chinese medicine, offshore wind power and new energy operators in the new energy industry, and refrigerants in chemical materials.
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 still 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.
The performance of the new fund "returns blood"
Since the end of April, after more than two months of rebound, the performance of public funds has rebounded sharply, and many new funds have "recovered lost ground".Data show that as of July 6 this year, among the 236 new active equity funds established this year, 197 funds have achieved positive returns, of which 51 funds have a return rate of more than 10%.Some old funds managed by well-known fund managers such as He Shuai, Qiu Dongrong, Xiao Nan, and Tao Can have also received substantial returns.
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."
(Editor in charge: Kang Bo)
