Recently, fund product announcements and listed company announcements have successively disclosed the latest scale and position of fund institutions, which has become a window for investors to observe the mid-year layout of fund institutions.The reporter found in the interview that since the second quarter, the layout of fund institutions has undergone obvious changes, especially after the market has entered a stage of shock after the ups and downs, balanced allocation has become the consensus of fund institutions.
Our reporter Wan Yu Xu Jinzhong
scale ups and downs
Recently, both E Fund Fund and GF Fund have announced that some funds have been allocated A shares of Huguang (605333) in a non-public offering.6 funds under E Fund Fund, including E Fund New Normal Flexible Allocation and E Fund Information Industry Mix, were allocated, and 5 funds under GF Fund, including GF Multi-Factor Flexible Allocation and GF Value Pilot One-Year Holding Period Mix, were allocated.
According to the allocation data, as of July 7, the net asset value of E Fund’s new normal flexible allocation fund was about 2.552 billion yuan, the net asset value of E Fund’s new Silk Road flexible allocation hybrid fund was about 4.418 billion yuan, and the net asset value of E Fund’s information industry hybrid fund was about 34.81 yuan. The net asset value of E Fund’s supply reform and flexible allocation fund is about 6.381 billion yuan, the net asset value of E Fund Information Industry Selected Fund is about 2.552 billion yuan, and the net asset value of E Fund Global Growth Selected Mixed Fund is about 399 million yuan.
From April 1st to July 7th, the net value growth rates of the above funds were 11.53%, 17.56%, 9.14%, 17.80%, 6.69%, and 6.26% respectively (the growth rate of the mixed net value of E Fund Global Growth Select is taken as the net value of Class A shares. growth rate).
Comparing the fund size data at the end of the first quarter, it is found that, except for the increase in the net asset value of the E Fund New Normal Flexible Allocation and E Fund New Silk Road Flexible Allocation Mixed Funds, the net asset value of other products decreased, while the E Fund New Normal Flexible Allocation and E Fund New Silk Road Flexible Allocation Mixed Fund NAV The growth rate is not as high as the growth rate of the fund's net value.
In addition, according to the calculation of the allocation data, as of July 7, the net asset value of GF Anhong’s return flexible allocation fund was about 1.987 billion yuan, and the net asset value of GF’s multi-factor flexible allocation fund was about 17.949 billion yuan. GF value leads the one-year holding period The net asset value of the mixed fund is about 286 million yuan, the net asset value of the one-year holding period of GF Ruiyu is about 4.255 billion yuan, and the net asset value of the GF Strategic Preferred Mixed Fund is about 4.487 billion yuan.At the end of the first quarter, the net asset value of GF Anhong’s return flexible allocation fund was about 50.4049 million yuan, the net asset value of GF’s multi-factor flexible allocation fund was about 20.903 billion yuan, and the net asset value of GF Ruiyu’s one-year holding period hybrid fund was about 3.861 billion yuan. The net asset value of the GF Strategic Preferred Mixed Fund is about 4.017 billion yuan.
Position adjustment
Recently, a number of listed companies have disclosed the latest shareholder information, revealing the latest position adjustment of fund institutions.
The announcement recently disclosed by Miao Ke Lan Duo (600882) shows that as of June 30, Hong Kong Securities Clearing Company Limited, Wufeng Countercurrent Private Securities Investment Fund, Huijiu No. 3 Private Securities Investment Fund, UBS AG, Rongyue Baina Innovation The driving private securities investment fund held 10.7287 million shares, 7.2993 million shares, 6.9731 million shares, 6.4729 million shares and 5.8321 million shares of the company's outstanding shares respectively.Comparing the list of shareholders at the end of the first quarter, it is found that Hong Kong Securities Clearing Company Limited increased its holdings of the company’s shares in the second quarter, and Huijiu No. 3 Private Securities Investment Fund, UBS AG, and Rongyue Baina Innovation-driven Private Securities Investment Fund all reduced their holdings of the company’s shares. .
Espressif Technology’s announcement shows that, as of June 29, Franklin Guohai Small and Medium-cap Equity Securities Investment Fund, Cathay Pacific CES Semiconductor Chip Industry Trading Open Index Securities Investment Fund, UBS AG and Franklin Guohai Elastic Market Value Mixed Securities Investment The fund holds 1,542,800 shares, 966,300 shares, 908,400 shares and 694,400 unrestricted shares of the company respectively.At the end of the first quarter, the number of shares held by the Franklin Guohai small and medium-cap stock securities investment fund was 1,791,500 shares, the Cathay Pacific CES semiconductor chip industry exchange-traded open-ended index securities investment fund held 886,700 shares, and the Franklin Guohai flexible market value mixed UBS AG was not in the list of top ten tradable shareholders at that time.
In addition, Mideaco's announcement showed that as of June 27, Longitudinal Steady No. 1 Private Equity Investment Fund and Danguishunzhi Wuyuefang Private Fund held 596,600 shares and 273,300 outstanding shares of Midea respectively. The data at the end of the quarter found that since the second quarter, the number of shares held by the Longitudinal No. 1 Private Securities Investment Fund has not changed.
Balanced configuration
Since the beginning of this year, the market has experienced ups and downs, and has recently entered a stage of shock and consolidation. How should investors respond?
Golden Eagle Fund said that short-term capital games tend to be frequent or increase market volatility, but in the context of domestic economic recovery, the market correction may be limited, and the subsequent rebound space will depend on fundamental verification and incremental policy space.Listed companies enter the mid-year report performance disclosure window, and A-shares may be more sensitive to the expected difference on the profit side.In general, it is recommended to focus on the main line of economic recovery, but the valuation ceiling should not be too high, and the room for improvement in valuation will come from changes in corporate profits.
In terms of industry allocation, Golden Eagle Fund stated that it will maintain a balanced allocation and focus on the three main lines of consumption, low-value technology, and stable growth.Position adjustments can be made in the short term to realize the benefits of high-valued industries, and then turn to relatively low-valued economic recovery mainline varieties, including consumption and growth segments supported by demand.In the main line of steady growth, focus on real estate and the post-cycle chain.As the epidemic tends to improve and the medium-term epidemic prevention policy continues to be optimized, the upside of the main line of post-epidemic recovery where demand has been suppressed is expected to further increase.In addition, we will continue to pay attention to strong varieties such as optional consumption and automobiles that will benefit from economic recovery in the future.In terms of configuration of the technology sector, on the premise of high valuation and cost-effectiveness, we should deploy high-prosperity industries and pay attention to the sub-categories in the technology track that benefit from the recovery of downstream consumer demand. High-quality varieties in the highly attractive new energy, military and other sectors.
GF Fund said that industry allocation needs to give priority to prosperity.It is expected that the high-end manufacturing industry, which has an upward industrial trend, has a relative advantage. On the one hand, it benefits from the decline in costs; on the other hand, demand benefits from the policy of stabilizing growth.It is recommended to pay attention to industries with good industrial trends and strong export resilience, such as photovoltaics, wind power, electric vehicles, automobiles and parts and other high-end manufacturing directions.
