概要
[OrBaotuanorcoldthinkingunderthehotmarket:Will2015happenagain?】Withthedisclosureofthe2020quarterlyreportofpublicofferingfundsKweichowMoutaiandotherwhitehorsestocksarestillfavoredbutfundscontinuetoflowsouthwardFromJanuary4to252021exceptfor22theremaining15tradingdaysareShanghaiandShenzhenThenetpurchaseamountofSouthboundFundsfromGangtongexceededHK$10billionTencentHoldingsMeituan-WandtheHongKongStockExchangeareallinfavorofSouthboundFundsWhilethemarketcontinuestoheatupwhetherthosememorableeventsinhistorywillrepeatitselfhasbecomeahottopicintheindustrysuchasthebigupsanddownsofHongKongstocksin2015andwhetherZhangKunwillbecomeSongKunsecond(ChinaBusinessNews)
wheninvestmentThe readers were still immersed in the sharp rise in core assets on the 25th. On the 26th, A shares sent a “flat”-the three major indexes fell across the board.
along withPublic offeringfundThe disclosure of the 2020 Four Seasons,Kweichow MoutaiWait for the white horse stocks to still be favored, but the funds continue to flow southward, January 4-25, 2021, except for the 22nd, the remaining 15 trading daysShanghai-Shenzhen-Hong Kong Stock ConnectThe net purchase amount of southbound funds exceeded HK$10 billion,Tencent Holdings、Meituan-W、Hong Kong Stock ExchangeThey are all in the heart of the Southward Fund.
A reporter from China Business News found that while the market continues to heat up, whether those memorable events in history will repeat itself has become a hot topic in the industry. For example, the ups and downs of Hong Kong stocks in 2015 and whether Zhang Kun will become Song Kun second and so on.
Funding differentiation: group together or go south
Since 2021, the core assets of A-shares have been controversial, sometimes “hustling and disintegrating” and sometimes holding tighter.ToKweichow MoutaiFor example, in the first few trading days, the stock price hit new highs one after another, and fell continuously from the 14th to the 19th. On the 15th, the liquor stocks fell almost across the board. From the 20th to the 25th,Kweichow MoutaiOnce again, the king returned. On the 25th, it rose by 4.57%. On the 26th, the three major A-share indexes fell across the board.
At the same time, Hong Kong stocks have become popular, and funds flowed in from the south.according toChoiceIt shows that since 2021, as of January 25, 2021, except for the 22nd, the net purchases of southbound funds from Shanghai-Shenzhen-Hong Kong Stock Connect exceeded HK$10 billion for the remaining 15 trading days. Among them, southbound funds bought 26.593 billion Hong Kong dollars on January 19, the highest since the Shanghai-Shenzhen-Hong Kong Stock Connect was opened. As of the 26th,Hang Seng IndexThe increase was 7.93%.
And as the Four Seasons newspaper disclosed,marketFrequent switching of styles, managed by many star fund managersproductThere is a big deviation between the actual net value and the estimated net value, and the new position adjustment path has become the focus.
According to the Four Seasons, as of the end of 2020,Raised fundsThe top ten largest Hong Kong stocks areTencent Holdings(00700.HK), Meituan (03690.HK),Hong Kong Stock Exchange(00388.HK), Xiaomi Group (01810.HK),China Resources Beer(00291.HK)Sunny Optical Technology(02382.HK)Anta Sports(02020.HK) 、Yihai International(01579.HK)WuXi Biologics(02269.HK)Kingdee International(00268.HK), which holdsTencent HoldingsReached 62.988 billion yuan, ranking first.
Judging from the degree of enthusiasm for Hong Kong stocks by a single fund, Zhang Kun’s E Fund Blue Chip Select Hybrid holds Tencent Holdings 6.418 billion yuan, accounting forFund equityThe ratio is 9.48%, far surpassing other funds with heavy stocks in this stock.Not only that, E Fund’s blue chip selection mixes are held separatelyMeituan-W6.494 billion yuan,Hong Kong Stock Exchange6.366 billion yuan, also among the most important public offeringsWarehouse receiptStocksMarket valueThe first.
Memories of “Set of People” in 2015
The fire in Hong Kong stocks is not just a low valuation, Huahui Chuangfu InvestmentGeneral managerYuan Huaming believes that driven by loose liquidity and expectations of a bottoming out of the global economy, many capital markets around the world have recently stepped out of the upside market, and some have also hit record highs.
“Compared with A-shares, Hong Kong stocks have indeed lower valuations, and the logic of low valuations has always existed, but the current rise is completely driven by southbound funds. The main driving force for the market is liquidity, and valuations are relative. “Fang Xin Fortune Hao Xinming said.
At the same time, a public fund source told reporters that in 2015, Hong Kong stocks were “manipulated” in this way.
At that time, from March 12 to April 9, 2015, Tencent Holdings rose 33% in one month, becoming a public fund that could passSouthbound tradingOne of the most dazzling star stocks after investing in Hong Kong stocks, but on April 27, the Hang Seng Index climbed to 28588.52 points and peaked, which is also the highest point after the financial tsunami. Then fell into the quagmire of a bear market.
On May 26, the market value of the Hong Kong stock market surpassed HK$31 trillion for the first time, reaching a record high of 31.6 trillion. On September 29, the Hang Seng Index reached its annual lowest point of 20,368.12 points and rose by 2.97% on the same day.After this, inMidlandSave interest rate,RMBInto the basket, localindustryUnder the influence of weakening and other internal and external factors, even if the Hong Kong market has temporarily recovered, the weak state has not changed significantly.
On the A-share market, withthe InternetThe development of the company and investors are getting younger and younger, and public funds continue to “out of the circle”,WeiboHot search fromLion FundCai Songsong arrivesE FundXiao Nan,China Europe FundZhou Yingbo, and even the most recent Yi Fangda Zhang Kun, all show that star fund managers are getting more and more attention.
An investor who has gone through several rounds of bull and bear markets and has tracked funds for many years told reporters that “Zhang Kun” becomes the second “Song Kun”.
According to data, Song Kun once managed E Fund’s Emerging Growth, E Fund Technology News, E Fund New Silk Road, and E Fund New Normal. He resigned on January 12, 2019. In 2015, E Fund Management, managed by Song Kun, grew with a 171.78%PerformanceWon the annual fund champion, but encountered the champion “curse” in 2016, and the annual decline was close to 40%. At the end of 2018, the fund’s net value once hit a new low of 0.304 yuan, a drop of nearly 70%.
According to Choice, as of Song Kun’s resignation, E Fund’s new Silk Road flexible employment return was -22.27% (December 30, 2017 to January 12, 2019), and E Fund’s new normal flexible employment return was -68.4% (2015 April 4). January 30 to January 12, 2019).
(Source: China Business News)
(Editor in charge: DF353)
Solemnly declare: The purpose of this information released by Oriental Fortune.com is to spread more information and has nothing to do with this stand.