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Let’s take a look at the latest operational analysis and market outlook of the Four Seasons Report of some outstanding fund managers today.
In the previous article, we have already covered the content of the Four Seasons Report of the top ten equity fund star fund managers such as Gu Lan, Hou Hao, Zhang Kun, Liu Yanchun, and Xie Zhiyu. Today, we have selected some outstanding performance in 2022 and excellent long-term performance. The fund manager came to share with you.
The overall content is more, you can choose what you are interested in watching.
1. Zhou Haidong – the selection of new trends for Chinese businessmen
Zhou Haidong’s excellent old K will not go into details. This is a balanced allocation fund manager who is very good at cycle rotation. He also mentioned this in the Four Seasons News, balanced allocation of value and growth.
In the fourth quarter, the value direction is mainly based on non-ferrous metals, chemicals, and transportation, and the growth direction is mainly based on computers, electrical equipment, and medicine.
The net value growth rate of Huashang New Trend Fund in the fourth quarter was 7.55%, which greatly outperformed the performance benchmark of 1.37%, and performed very well.
2. Miao Weibin—Jin Yuanshun, An Yuanqi, flexible configuration
Jinyuan Shun’an Yuanqi belongs to a phenomenon-level fund in 2022. Subscriptions have been suspended after purchase restrictions and then purchase restrictions.
This is a very distinctive fund product. The fund manager has achieved excellent historical performance by extremely diversifying investment in small and medium-cap stocks, and has a strong stock selection ability.
However, the size of this style of fund cannot be too large, so the fund manager had to suspend the subscription.
In the Four Seasons Report, Miao Weibin mentioned that the overall lower valuation level of the market and the expectation of economic recovery make stock assets have a better income advantage. His stock position is maintained at a medium to high level and will continue to maintain a high degree of diversification.
In terms of stock and industry selection, Miao Weibin pays more attention to undervalued varieties recovering after the epidemic.
3. Bai Bingyang – Value Selection of Bank of China Securities
Bai Bingyang is Qiu Dongrong’s wife, and her husband’s Four Seasons newspaper old K introduced it in detail in a single article when it first came out. Bai Bingyang is also a fund manager with excellent performance. The funds she manages, such as Bank of China Securities Value Selection and Bank of China Securities Health Industry, will perform very well in 2022.
In the Four Seasons Report, Bai Bingyang mentioned that he will continue to adhere to the value strategy in the fourth quarter, reduce the allocation of energy-related fields from the perspective of cost performance, maintain the allocation of stable growth, midstream manufacturing, pharmaceuticals and other fields, and avoid high valuation fields as always .
For the next layout, Bai Bingyang admitted that he is not a prophet with extraordinary ability, and he will look at all changes carefully, welcome the new year with a more balanced posture, adhere to the margin of safety of investment, and avoid high valuations and high risks. Guard against value traps and look for cost-effective target layouts.
4. Lin Yingrui——Guangfa Ruiyi takes the lead
In 2022, Lin Yingrui insisted on investing in aviation and other distressed industries, and his performance was relatively impressive, and he was called the reverse god by many Christians.
In the Four Seasons News, Lin Yingrui said that his excess returns in 2022 were due to luck, and that he had increased his fund stock positions to the upper limit stipulated in the contract as planned. Equity markets are more positive, with optimism about expected yields over the next two years.
But he reminded his holders to lower their expectations for excess returns in the future.
5. Yang Jinjin – Bank of Communications Mixed Trends
The Four Seasons Report of Bank of Communications Yang Jinjin has rich content, and made a comprehensive review of the market trend based on historical trends.
A certain analysis has been made on whether 2023 is a blue chip stock market, a growth stock market or a volatile market.
The continued market of blue chip stocks depends on the continued recovery of the economy, and the bull market of growth stocks needs a booming track that can accommodate large funds. These all need to be observed.
For the main line of investment for the whole year, Yang Jinjin is optimistic about three directions. One is independent of the economic situation, as long as the society is normal, it can have a growing company with good performance.
Second, a weak recovery can also bring about an improvement in supply and demand, and some cyclical varieties with stock prices and valuations at the bottom.
The third is the opportunity for the reversal of the utility cycle brought about by the reversal of upstream supply and demand.
6. Jiang Cheng – Zhongtai Xingyuan Value Selection
Jiang Cheng is a fund manager who does not stick together and focuses on deep value. In the Four Seasons News, he once again emphasized the importance of valuation. He believes that short-term cyclical factors are not important, but long-term structural factors are important. The important long-term structural factor is the competition pattern within the industry, and the decisive factor of the competition pattern is the difference in competitiveness among enterprises.
He said his fund’s investment portfolio is currently in a comfortable state, and all he has to do now is wait and see.
7. The Yellow Sea—Wanjia’s macro timing and multi-strategy
As the most unpopular champion fund manager in recent years, Huang Hai said in the Four Seasons News that the current valuation still needs to fluctuate and consolidate, and the second half of the year may usher in a double rise in performance and valuation.
Regarding his heavy positions in energy stocks such as coal, he feels that they are still scarce assets with both offense and defense, and he will continue to hold heavy positions.
At the same time, it will actively look for investment opportunities in undervalued midstream industries related to economic recovery.
8. Du Yang – Strategic Transformation of ICBC
In fact, Du Yang’s performance in 2022 is not bad, but everyone’s requirements are relatively high, and investors’ expectations have not been met. He analyzed the logic of market changes in the next four quarters in the Four Seasons News, and said that he will continue his investment style and focus on the medium and long-term Dimensional profit growth space and flexibility.
9. Shen Nan – Bank of Communications theme selection
Shen Nan clearly mentioned in the Four Seasons News that the capital market may gradually usher in new investment opportunities in the first quarter of 2023.
However, its own fund will still focus on high-end manufacturing with core technical barriers, industries such as electronic computers that benefit from technological upgrades, food and beverage, medicine and other essential consumer goods for a long time, and pay attention to the remedial opportunities of undervalued blue chips in stages.
10. Zhu Hongyu – Merchants core competitiveness
The core competitiveness of China Merchants is a fund that has been relatively popular recently. It achieved relatively high excess returns in the fourth quarter. Fund manager Zhu Hongyu also mentioned this in the quarterly report. Technology and other sectors.
Zhu Hongyu also mentioned in the Four Seasons News that he increased his holdings of leading manufacturing companies such as military industry at the end of the fourth quarter.
You can also take a good look at the quarterly reports of these ten outstanding fund managers. Their thinking on future investment, as well as their investment strategies and investment systems have been tested by the market and are worth learning from.
That’s all for this article, I hope everyone will continue to pay attention to the dry investment of old K.
Disclaimer: The remarks published on this account represent personal opinions only, and cannot be used as a basis for buying and selling. The market has risks, and investment needs to be cautious. The past performance of funds and fund portfolios cannot predict their future performance. Fund research, analysis and fund portfolio services do not constitute investment consulting or advisory services. Please read relevant legal documents and risk disclosure statements and make rational investments based on your own risk tolerance. Interpretation of #2022Four Seasons Report#
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