Since the end of April, the equity market has ushered in a strong rebound.Some funds represented by new energy funds have performed strongly in this round of rebound, with a maximum increase of over 80%.The FOF (fund of funds), whose performance was sluggish for a time, finally raised its eyebrows, and some products rose by more than 30%.
The Securities Times reporter noticed that most of the FOFs with the highest rebound strength have heavy positions in new energy funds, and there are also many new energy funds with great rebounds that do not have heavy positions in FOFs.In this regard, industry insiders believe that FOF, as a stable investment product that pursues long-term returns, requires it to seize every short-term rise. The asset allocation capability and risk resistance capability of the product.
Shigekura New Energy Fund
FOF rose best
As the broader market picks up, the net performance of FOF is also picking up.Since April 27, FOF, which has rebounded the most, has risen by more than 30%.
E Fund's 6-month holding of A is a FOF product that has rebounded significantly since April 27, with a net increase of 31.06%.This FOF has increased by 3.94% this year, and it has the highest performance among similar FOF products.
Judging from the position disclosed by the FOF at the end of the first quarter of this year, the fund's position is as high as 93.19%.This FOF mainly holds E Fund’s internal funds, including E Fund New Economic Mix managed by Chen Hao, E Fund Ruiheng managed by Xiao Nan and Wang Yuanchun, and E Fund Kerui managed by Yang Jiawen.
Judging from the performance of the FOF fund since April 27, the rebound rate of funds with more positions is mostly stable at around 30%.Among the key holding funds, the one with the largest rebound is the E Fund environmental protection theme managed by Qi He, which rose 58.19%. The top stocks of the fund are all power equipment stocks, including TCL Central (002129), Jingsheng Electromechanical (300316), Austrian Tvey, Ningde Times (300750), etc., are a typical fund with heavy positions in new energy.
Coincidentally, there are many FOFs that have rebounded at the top since the end of April, and their heavy-holding funds cannot avoid new energy. There are similar characteristics of FOF.
Judging from the situation disclosed at the end of the first quarter, some of the Hengyue Huiyou Selected 3-month FOF funds, such as CITIC Prudential Innovation Growth Mix, Hengyue Research Select Mix, etc., all have significant new energy theme characteristics.Minsheng Plus Bank actively allocated funds that held FOF for 6 months and also held a number of new energy funds.
FOF configuration focuses on balance
The Securities Times reporter noticed that although new energy funds have performed prominently in this round of rebound, FOF, which has rebounded strongly, also has the help of new energy funds.However, judging from the positions at the end of the first quarter, the new energy funds with the highest rebound strength are not among the positions of most FOFs.
In this regard, an industry insider told reporters that there are a large number of funds in the public offering market. In contrast, the number of heavy-holding funds of FOF is relatively limited."I feel that not being able to choose the best-rising fund is like not being able to buy the best-rising stock. Investment forecasting is never easy, and it is difficult to guarantee that the fund that can be bought by FOF will be the one with the highest return. The front." She told reporters, "It is impossible for a fund manager to step on the rising band every time, and still have to judge the long-term direction. For FOF products, it is not a wise operation to adjust positions frequently."
Another industry insider believes that the above situation is not surprising considering the style characteristics of products such as FOF."FOF is professional institutional investors buying funds, and stable returns are the pursuit of most FOFs. Some FOF fund managers are less inclined to choose funds that are particularly resilient, considering the pullback in extreme cases. Foundations with a relatively balanced style are preferred.”
She told the Securities Times reporter that some stock-biased FOF products in the market are relatively flexible because they have to be benchmarked against stock-biased funds.Other FOF fund managers will choose to add a little more flexibility to the equilibrium.In her opinion, for investors who buy FOF products, it is very important to lengthen the investment curve. Compared with whether the products they buy can fully enjoy the dividends of the phased market in the short term, the product's long-term asset allocation ability and risk Resilience is more of a concern.
