原始标题：基金的新“一个兄弟”就是这样制作的！ 赵浩和陆斌对新能源很乐观，您是否害怕冠军？
概要
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2020 has passed,Public offeringfundThe industry has left behind the “myths” of champions:ABC-CA FundZhao Hao “flowers four”, manages 4productWon the top four thrones in the income list, becoming a flexible allocation fund and partial stockHybrid fundDouble championHSBC Jintrust FundLu BinpingborrowWith the outstanding performance of HSBC’s low-carbon pioneer, it won the averageStock fundChampion.
In the past 2020, why did they win? Can they continue to be bullish in 2021? What do they think of the “championship spell” hanging high above?
In 2020, they will have unlimited scenery!
In 2020, Zhao Hao of ABC-CA Funds “Flowers Blooming Four Flowers”, not only won the annual income ranking champion, but also in the flexible allocation of funds and partial stocksHybridThe fund won the championship under the two fund categories.
HSBC Jinxin Lu Bin, relying on the outstanding performance of HSBC Jinxin low-carbon pioneer, won the first place in the income ranking of common stock funds.GF FundThe GF high-end system managed by Sun Di and Zheng Chengran won the runner-up of common stock funds; ICBC Credit Suisse’s small and medium-cap growth managed by Huang Anle ranked second in the income of partial stock hybrid funds.
2020Raised fundsRevenue ranking
How did they succeed?
The grasp of opportunities in the new energy industry has become a common feature of Zhao Yu and Lu Bin.
Earlier, Zhao Hao said in an exclusive interview with a reporter from China Securities Journal that in his own investmentPerformanceAmong his attributions, accurate research and judgment on market opportunities in March and April 2020 has become an important source of his outstanding performance.However, Zhao Yu’s research and judgment on the market at that time was not based on the timing trading as ordinary people think.the companyAfter in-depth study of the level of contrarian layout. In essence, Zhao Yi is a researcher, not a trader. Such positioning is not a label he deliberately set for himself at the beginning of his investment, but the result of continuous correction of his path during his investment career.
However, even if he succeeded in investing in the new energy industry in 2020, Zhao Yi said frankly that his research on the photovoltaic new energy industry is not necessarily the top player in the market, but he must be a relatively solid researcher. With the support of research, after excluding the adverse effects of market sentiment and giving up the obsession with precise buying at the absolute bottom, choose the industry leader with strong certainty, and decisively intervene in the opportunity that you recognize in a comfortable position.
Similarly, the HSBC Jinxin low-carbon pioneer stock managed by Lu Bin finally won the title of the common stock fund in 2020 by relying on its keen judgment on the new energy sector, with an annual return of 134.41%. As a reverse investor, Lu Bin believes that reverse investment will undoubtedly suffer in the short term, but there may be good returns in the past.Take his investment in the new energy vehicle sector as an example. In 2019, industry subsidies declined sharply, and the demand for the whole year was significantly lower than expected. The market was generally pessimistic, but he was lurking against the trend and began to allocate a large proportion of new energy vehicles from the end of September 2019.industryChain mark. In the end, the outstanding performance of the new energy sector gave him a generous return on his investment.
In-depth research, concentration; accurate vote and hold… become the common label of these champions.
In 2021, they will change and not change!
For the investment in 2021, Zhao Hao will remain unchanged in the general direction, but there are also adjustments to investment strategies.
Zhao Yi said that he is optimistic about the new energy sector in the long term.Although the growth rate of new energy in 2020 has been very large, the United States, China, and the European Union have continued to increase their investment after the epidemic. Whether it is photovoltaic or new energy vehicles, my country has the most complete and most competitive in the world.Industry chain, Which will benefit from global development. Zhao Yu pays more attention to the direction of incremental investment. First, the direction of increased demand brought about by technological progress, including new energy and 5G applications.Second, the direction of domestic substitution to make up for shortcomings, especially high-end aviation engines, semiconductors, and Beidou.manufacturing, The combination configuration still focuses on the 5G industry chain and high-end new energy manufacturing.
However, Zhao Yi pointed out that in 2021, liquidity will no longer be as loose as it was during the epidemic, which will inhibit the expansion of valuation to a certain extent, and also means that it needsenterprisePerformance growth to digest excessive valuations. From this perspective, stock selection in 2021 will become more difficult, and growth stocks as a whole will be more dull in 2021 compared to the past two years.
For the 2021 market, Lu Bin is mainly optimistic about four major areas: first, the new energy industry represented by electric vehicles; second, the procyclical sector represented by the chemical industry. The current chemical industry has barriers to entry due to hard constraints such as environmental protection and safety. It is very high. The epidemic has also led to the withdrawal of many small companies. With the upward demand in 2021, many opportunities can be found in certain segments; third, one or two segments in the defense and military industry; fourth, large Financial sector, includingInsurance、bankAnd real estate.
Lu Bin believes that in 2021, investment will make “hard” money, and the requirements for fund managers’ stock selection ability will be very high. In the past few years, institutions have organized a group of large white horse companies with good liquidity, resulting in “head concentration” of investment targets. It can be said that if you choose a good track and buy the leading company in the track, you can have a good winning percentage. However, the opportunities in 2021 will come from non-head companies. These companies are not as well-known as the White Horse Company, and each have their own problems, or the industry is not booming, or they are delayed by the extreme market and ignored by the market, but these companies Or will become the main opportunity in 2021.
Although he missed the champion, Zheng Chengran of GF Fund continued to focus on professionalism and plan for investment in 2021.
He believes that in the long run, technology, photovoltaics, and new energy vehicles are relatively good long-term tracks, and the long-term market space is relatively large.Pay attention to two main lines, one is economic recovery, and the other is the “14th Five-Year Plan”Industrial upgrading. Along these two main lines can find opportunities, mainly strategic transformation, strategic emerging directions, such as technology, high-end manufacturing. Relatively optimistic about the semiconductor direction. The semiconductor industry has made great progress in the past two years. One is that its own technological strength has improved greatly, and the other is that the demand in the downstream market has grown relatively fast.In other words,supplyBoth the demand side and the demand side have changed a lot. In the early years, the development of this industry was guided by policies. Now the development of this industry is based on the voluntary actions of enterprises, and both enterprises and employees are highly motivated.
Thinking beyond the championship
In the past few years, the performance of public funds in 2020 is absolutely amazing.
2016-2020 annual revenue champion list of public funds
However, comparing the fund income rankings of the previous few years, we will find that these pride of the past year will basically fall into the mortal world in the next year and will no longer stand out, thus becoming a “curse.” However, with the continued strong market conditions in the past two years, there are also champion fund managers who have broken the curse and have long-lasting performance.
The 2019 champion fund manager Liu Gesong responded to the “championship curse” and said: “I think there are more people behind the’championship curse’ to break. As long as fund managers are good at breaking through themselves and getting rid of path dependence, this can be done. a little.”
At present, in addition to the optimization of the investment strategy in 2021, these champions in 2020 are also adjusting their rhythm to meet the investment test in 2021.
On the last day of 2020, the ABC-CA Fund releasedannouncementAccording to the report, three fund products of ABC-Agricultural Research Selected Flexible Configuration, ABC-Agricultural New Energy Theme Flexible Configuration, and ABC-Agricultural Industry 4.0 Flexible Configuration managed by Zhao Yu are adjusted for large purchases, conversion transfers and regular fixed investment Limit. After the adjustment, the amount of restricted subscription (including conversion and transfer and regular fixed-amount subscription) for the three fund products is 10,000 yuan. The adjustment will take effect on January 4, 2021.
Image Source:Fund announcement
Similarly, HSBC Jinxin Smart Manufacturing Pioneer, managed by Lu Bin, has suspended subscriptions, conversions, and regular fixed-amount investment businesses of 1,000 yuan or more from December 28, 2020.
These champions, first of all, remained calm in the face of the rush of incremental funds.
(Source: China Securities Journal)
(Editor in charge: DF134)
Solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this stand.