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皇冠电子游戏网址:Baotuan leading shares of logic to strengthen the public fund four behind the investment password

时间:2018/1/27 15:00:55  作者:  来源:  浏览:0  评论:0
内容摘要: All public funds in 2017 four quarterly disclosure has been completed.Since November 2017, a batch of Baima Stocks represented by electroni...

All public funds in 2017 four quarterly disclosure has been completed.

Since November 2017, a batch of Baima Stocks represented by electronics and new energy sources have started to turn around. The market has also begun to shake the market for Baima Stocks.

2018, Bank , Real estate stocks skyrocketing, Kweichow Maotai Share price break 700 yuan, and to 800 yuan attack.

So, by the end of the fourth quarter of 2017, what changes have taken place in the investment logic of public funds and what are the changes in investment preferences? How will the market style be interpreted in 2018?

The reporters of China Times will decode the digital passwords hidden behind the fourth quarterly report of the fund, and through the path of institutions researching since the third quarter of last year, and reporters interviewed the star fund managers to outline the market investment signals of 2018 .

plus real estate minus electronic

according to GF Securities Data statistics show that equity funds (active partial stock funds + flexible allocation fund) the end of the 2017 fourth quarter continue to improve for the allocation ratio of the motherboard, the end of the third quarter Of the 61.8% to 67.2%, but still in a low stage; on the GEM and small plates continue to lighten up, respectively, the allocation ratio from 12.9% at the end of the third quarter, 25.3% lighten up to 9.8%, 22.9%, but still in super With the state. It is worth mentioning that, relative to the end of the third quarter, the public offering of GEM's attitude has also changed, the end of the third quarter public offering of funds on the GEM 30% of the top 30% of the allocation of listed companies have improved, but significantly decreased by the end of the fourth quarter .

More specifically, the ratio of public placement institutions CSI 300 at the end of the fourth quarter continued to increase to 59.4%; continue to open up the warehouse with a ratio of 22.4% to 50.

Interest-based funds from the four quarterly disclosure of positions in the industry distribution and Awkwardness data point of view, the more obvious convergence of investment funds public funds, Baotuan leading unit continuously strengthen the logic.

"The proportion of industry leading shares rose for 6 quarters in a row, increasing by 4% at the end of 4Q to 28.5%." GF Securities According to the research report, "For example, we screened 28 consumer white stocks and equity funds The allocation position continued to increase by 4.7% to 22.3% at the end of the fourth quarter after the slight drop of 0.7% at the end of the third quarter and the position is close to the highest level in the third quarter of 2012.

The top ten positions of fund positions at the end of the fourth quarter of 2017 Awkwardness were China Ping An , Yili , five waves fluid, Maotai, Midea Group , Gree , Focus media 7_89 456_66_65473_9, Merchants Bank , Luzhou and China Pacific Insurance , are almost all white horse blue-chip stocks.

"From the previous round of the White Bull, the performance of the public offering to the White Horses has lagged slightly behind the market, that is, there is still an impulse to open up after the index started to fall." Since the beginning of 2018, a small white horse continued to rise and speculated that the style is still certain Sticky. "Tianfeng Securities Analyst Liu Chenming believes.

Configuration from the industry point of view, the end of the fourth quarter of 2017. Opening up public fund industry is food and beverage, household appliances, real estate , biological medicine and other large consumer, lighten up most of the electronic industry, non-ferrous metals , Building decoration, machinery and equipment growth and cycle industry.

There are several major changes in the distribution of public offering assets at the end of the fourth quarter. First, the real estate sector jiacang amplitude at the end of the fourth quarter, is the maximum since 2015, the proportion of configuration increased by 1.1% to 4.1%, since the historical configuration of low for 2 consecutive quarters rebounded, but still low; Second, the media industry is the TMT industry The only sub-sub-sector to be publicly-opened. Data show that the media jumped for the first time since 2016, and the public placement rose 0.6% to 3.4% in the fourth quarter. Thirdly, the electronic allocation dropped from the highest level in history but remained over-allocated . Fourth, the theme of new energy vehicles, Apple The industrial chain has been lighten up.

"In the fourth quarter, the fund managers of our company started to intensify the allocation of real estate stocks." A large-scale South China fund manager revealed to reporters that they did not think property management data was as bad as expected.

7 _ 89456 _ 109 _ 65473 _ 92018 How to change the market style?

At present, there is still a lot of market talk about style switching about the market for white horse. However, an indisputable fact is that in disagreements, more and more funds have entered the blue chip industry and the white horse Unit, and institutional research is also increasingly more market capitalization stocks.

"China Times" According to statistics, 11 months to 25 January 2018, the number of research institutions was more than 20 times the total of 10 listed companies, namely BYD , Goldwind , Guangzhou Automobile Group , Suning Appliance , BOE A, boss appliances , BNBM , Sinowealth , in addition to Sinowealth market value is less than a hundred billion GEM companies, the other nine are in the market value of 40 billion Above the yuan, the average market capitalization of 120 billion yuan. From the largest number of institutions involved in research perspective, there are more than 200 research institutions listed companies 9, as Hikvision , Goer shares , the US group, Jingdong party A, Gan Feng Lithium industry , are basically white horse stocks. So what will happen to the market in 2018? "China Times" reporter interviewed King Shun Liu Yanchun Great Wall star fund manager, its two Invesco Great Wall Emerging Growth, Invesco Great Wall Ding Yi in 2017, respectively, with 56.28% and 55.52% return on performance, won Under the partial stock fund champion runner-up, Liu Yanchun good bottom-up stock picking.

"The market style will not switch, I am more concerned about one indicator, that is, the real economy (kicked off the financial business) return (total ROE level.) Capital is always fame and fortune, when the real economic rate of return is high enough , Then the money will flow to the entity, reflected in the performance of the stock market is the whole style will be partial to this direction. "Liu Yanchun analysis said that from the first quarter of 2016, the real economy as a whole returns slowly become better, so the money started Back to the entity. Judging whether this style will change in the future, I think the key point you should look at is whether the real economy starts to turn back again and again and will fall deeper and deeper. In that case, money may leave the entity again Going outside, into some concept speculation.

"Looking back from this year's market, in terms of monthly units and months, I think it is still a fundamental market. We will not go to large and small companies. Large companies or small companies, large market capitalization companies are still small Market capitalization companies must be fundamentally sound companies will run out, will go better. So we should not easily bet on the size of the small plate to switch, I think for a long time is a fundamentally driven market. " Liu Yanchun think.


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