原始标题：公共资金到哪里去？ 美国，德国，韩国和更受欢迎的股票市值已达到382亿！印度，英国和日本的吸引力大大降低了
概括
[Wheredopublicfundsgotosea?TheUnitedStatesGermanySouthKoreaandVietnamhavebeenfavoredwithstockmarketvalueof382billion!】Thelatestdisclosureofthe2020fundannualreportshowsthattheUnitedStatesGermanySouthKoreaandVietnamarecurrentlythefourmostpopularstockmarketsforChinesepublicequityfundsincountryinvestmentwithatotalof382billionyuaninstocksinthefourcountries
Which country is the most attractive for public offerings from Chinafundmanager?
The newly disclosed 2020 fund annual report shows that the United States, Germany, South Korea, and Vietnam are currently the four most popular stock markets for Chinese public equity funds in country investment, with a total of 38.2 billion yuan in stocks in the four countries.
It is noteworthy that the share of German stocks in Chinese public funds has gradually increased. In addition, due to the continued strong growth of Vietnam’s exports to the three major economies of the United States, China and the European Union, Chinese public funds have also increased their exposure to the Vietnamese stock market. The large-scale investment in Vietnam has also made the attractiveness of listed companies in Vietnam surpass that of India, the United Kingdom and Japan. And in the first quarter of this year, AStock baseAt the time of the sharp decline in gold, funds investing in Vietnam and Germany have also become safe havens in the eyes of many Christians.
Germany has gradually become the investment target of Chinese fund managers
Statistics show that the United States, Germany, South Korea, and Vietnam are currently the four most popular stock markets for Chinese public equity funds for country-specific investment.
according tofund companyThe information disclosed in the annual report shows that as of the end of 2020, a total of 80 Chinese mutual fund products have invested in the US market, and the total market value of US stocks held is about 35.9 billion yuan.
Raised fundsQDIIThe second largest market for country-specific investment is Germany. At present, there are about 12 funds holding stocks listed in Germany. Among them, the largest stock market value comes fromHuaan FundThe company’s Huaan Germany 30 Fund has an investment market value of approximately RMB 1 billion.
In addition,China Asset ManagementThe company’s China Global Select Fund has also entered the German stock market, holding a market value of 67.57 million yuan in German listed companies. According to the regional allocation ratio of China Xia Global Select Fund, German stocks account for 1.88% of the fund’s net asset value, which is slightly higher than China Xia Global Select Fund’s investment in Dutch stocks.
Although this has a small percentage of positions in the China Global Select Fund, the absolute investment amount of 67.57 million yuan is not small. At the same time, this point is also of great significance.
BrokerageChinese reporters noticed that until the end of 2018, the China Global Select Fund only included four markets: the US stock market, China’s Hong Kong stocks, China’s Taiwan stocks, and Japanese stocks. However, starting from 2019, China Global Select Fund has significantly increased its investment in the European stock market. Among them, the European stock market is mainly concentrated in German listed companies.
China Investment JP Morgan FundThe company is very interested in European stock markets, especially German stocks. This Shanghai-headquartered fund company not only launched the China International Fund for Morgan Stanley, but also the fund’s European equity investments are largely optimistic about the potential of German listed companies. According to the 2020 annual report disclosed by the fund, the fund manager Zhang Jun holds a position of 15.36% in German stocks.
Zhang Jun stated in the fund’s annual report that with the promotion of vaccines, more and more people in Europe will be vaccinated, and it is expected that effective control of the epidemic will be achieved in the first half of 2021.Unprecedented in historycurrencyWith fiscal stimulus, European equity assets are still more attractive than cash and government bonds. Because of the economic recovery, the prospects for corporate profit growth are still promising. Fund holders need confidence and patience.
It is worth mentioning that the stocks bought by Chinese fund managers on the German stock market are mainly concentrated in SPA software companies, BASF Chemical Group, Siemens, AllianzInsurance, Daimler Motors, Bayer Pharmaceuticals, etc.
The above-mentioned German stocks have huge interests in the Chinese market. Among them, SAP is the world’s top enterprise software provider, providing services to more than 15,000 Chinese companies in the Chinese market.software service. The German stock BASF, another Chinese fund manager who has a strong position, is one of the global chemical giants and a major supplier of cosmetic raw materials in China. It has a rich history of sunscreen development, and its core research directions are mainly sunscreens and active ingredients and surfactants. , The product line of personal care products includes almost all the raw material categories of personal care products. In late March this year, BASF just reached a cooperation agreement with an A-share listed cosmetics company in China.
In other words, the investment of fund managers in the German stock market largely values that German companies will benefit from the strong growth of the Chinese economy, especially after many German listed companies enter the Chinese market, they usually occupy all the industrial chains in China. Relatively high-end supplier position.
Chinese fund managers re-allocate South Korea, Wesang Japan
It is worth noting that the Korean stock market has surpassed Japan and has become the East Asian securities market that Chinese fund managers are most interested in.
Taking the South Korean stock market as an example, the data shows that as of the completion of the fund’s 2020 annual report, there are a total ofBosera Fund、CCB FundFour fund companies, Shanghai Investment JPMorgan Fund, and Bank of Communications Schroder, have deployed South Korean stocks. Among them, the position of Korean stocks in the Bosera Greater China Asia Pacific Select Fund reached 11.25%.
When explaining investment in the Korean stock market, Yang Tao, fund manager of Boshi Greater China Asia Pacific Select Fund, said that he mainly considers “scarce and distinctive technology and consumer leading stocks, companies with global competitiveness and market share.”
According to the fund’s annual report, South Korea’s Samsung Electronics is the second largest stock of Boshi Greater China Fund, and Samsung Electronics’ stocks account for more than 6% of the fund’s positions. In addition, South Korea’s LG Chem is also a major holding of Boshi Greater China Asia Pacific Select Fund, accounting for 5% of the fund’s positions.
Why does the attractiveness of Vietnamese stocks surpass India and the UK?
Vietnam is also an amazing place. This country with a population of 95 million has surpassed India, the United Kingdom, and Japan, and has become one of the top four countries that QDII fund managers most want to invest in.
Data shows that the current amount of QDII funds investing in the Vietnamese stock market is 570 million yuan, which is very close to the amount of QDII investing in the Korean stock market.Tianhong FundCelestica VietnamStock fundIt is the only public fund that invests in Vietnam. So far, the return rate of the fund since its establishment is 27%. In the most recent year, the return rate of Celestica Vietnam Equity Fund is 68%.
Hu Chao, the fund manager of Celestial Vietnam Equity Fund, pointed out in his fund annual report that Vietnam had taken effective control measures early in the global epidemic, the domestic epidemic was well controlled, and the domestic economy entered the recovery phase earlier. In 2020, Vietnam will achieve positive economic growth every quarter. The whole year of 2020GDPA year-on-year increase of 2.9%, although it is the lowest level in the past 10 years, it is still at the forefront of the world.
In addition, thanks to the early resumption of work and production in Vietnam, Vietnam’simport and exportThe growth rate rebounded rapidly in the second half of the year, and the process of integrating into the global trade industry chain was further increased, and the share of import and export trade in the global market was further increased. In 2020, the Vietnamese stock market continued to net outflows of foreign capital, but the relatively loose monetary policy brought about a continuous decline in the risk-free rate of return. Domestic investors increased their allocation to the stock market. The trading volume of the Vietnamese stock market hit a new high at the end of the year along with major stock indexes .
“Based on the weight of the Ho Chi Minh VN30 Index, we focused on increasing the allocation of financial and mandatory consumer sectors.” Hu Chao said that from the fundamentals of listed companies in Vietnam, the financial sector is relatively less affected by the epidemic. There is a high degree of certainty of annual profit growth. After the panic decline in the market, the valuation is obviously attractive. Some companies in the consumer sector have shown strong resilience during the epidemic, and the market share of leading companies has continued to increase.
Market participants also believe that Vietnam formally signed a free trade agreement with the EU in 2020, and in March this year, when the EU canceled the China-EU Investment Agreement Review Conference, Vietnam’s export advantage to the EU market will continue to increase.
According to data from the Ministry of Industry and Trade of Vietnam on March 24, 2021, Vietnam’s exports to the EU in the first 5 months (from the beginning of August 2020 to the end of December 2020) of the Vietnam-EU Free Trade Agreement (EVFTA) agreement came into effect An increase of 3.8%. In the first two months of this year, Vietnam’s exports to the EU increased by 22.7% year-on-year. Moreover, Vietnam has also got rid of the impression of low-end exports. The commodities with the highest growth in Vietnam’s exports to the EU are: plastic raw materials, rubber products, computers, electronic products and mechanical parts, steel, chemical products, etc.
Regarding Vietnam’s export data for the first quarter of 2021, the United States is Vietnam’s largest export market, with exports to the United States reaching US$21.2 billion, a year-on-year increase of 32.8%; followed by China, with exports reaching US$12.5 billion, an increase of 34.3%; the European Union The market reached 9.6 billion US dollars, an increase of 14.2%. The strong export growth to the three major markets of the United States, China, and the European Union stimulated the Vietnamese economy, making Vietnam the core of Chinese fund managers’ attention.
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(Source: Brokerage China)
(Editor in charge: DF398)
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