$Yinhua Tianji-Quietly Ying(TIA05031)$ $Yinhua Tianji-Niannianhong(TIAA041001)$
Today is Monday, and it’s another day for my family’s regular vote. Our old rules are to go to the screenshot of my family’s regular vote first. My family is still scheduled to vote for one part of Yinhua Tianji-Quietly Ying and one part of Yinhua Tianji-Niannianhong.
Regarding today’s fixed investment, a friend left a message asking if it is possible to suspend it. I feel that the market has reached the 3200 point line. Is there any risk? how to say?
I think of the fourth quarter strategy report “[Fund Investment Advisory 2022 Fourth Quarter Strategy Report 2022.10.09] Rebound, Reversal and Long-term Return” on October 9. There is such a sentence in it . Many people think about risks, but they just forget that if there is no market decline, there will be no good investment opportunities and cheap prices. , to wait for exhaustion”, investment often requires counter-human and counter-cyclical layout.
Do you think there is a big difference between 3000 points and 3200 points? Isn’t it the bottom area with a difference of 200 points? Is there a big risk in this 200-point market?
Our point of view is still clear and clear, here is still the bottom area worth looking forward to and grasping, and the market trend is gradually getting out of the bottom area, and when the market really gradually walks out of the bottom area, what should really be What worries me is not the risk, but whether I can seize the opportunity? Taking a step back, even if there is still some repetition here, the downward space is not too much, right?
Of course, there is a big premise here. It must be invested with spare money. If this premise is broken, no matter how good the strategy is, it may lose to the volatility in the middle. People’s mentality also has a great impact on investment, and many people will be in the middle of the volatility. erroneous and regrettable actions.
Again, we can strive to make better strategies and adjust positions in a timely manner within our capabilities, we can give up personal privacy and announce the fixed investment amount of the family to guide everyone, and we can also maintain high-intensity and seamless communication , but we can’t decide whether investors are buying or selling, these need to be decided by investors themselves.
Today’s market is relatively strong and divided. The Shanghai Composite Index closed up 55.67 points, or 1.76%, at 3211.81 points, showing a strong performance; while the ChiNext Index closed down 6.21 points, or 0.26%, and finally closed at 3211.81 points. 2377.11 points, the performance is relatively sluggish.
It can also be verified from the performance of the main sub-indexes we research and track. Obviously, the Shanghai Stock Exchange 50 (closed up 2.35%), infrastructure projects (closed up 5.61%), securities companies (closed up 3.42%), and China Securities Bank (closed up 3.42%) Close up 2.77%) and other undervalued value sectors performed more prominently (Wind, 2022.12.05).
It should be said that we can clearly see that many state-owned enterprises with very good quality can basically maintain a growth rate of around 10%. There is indeed a logic of valuation restoration in this area, which belongs to “everything is a cycle, underestimation increases the winning rate” There is still a certain opportunity for the undervalued dilemma to reverse.
But from a mid-to-long-term perspective, investment ultimately depends on growth, and those companies and industries with better growth are the future. However, at present, semiconductors, new energy, and military industries, etc., have relatively good growth in A-shares. They are all faced with different problems such as long rising time, short consolidation time, slightly high valuation, slowing growth rate, etc., and they will have to sit on the bench in stages.
In addition, the Hong Kong market is also very strong today. As of the close at 16:00, the Hang Seng Index closed up 849.65 points, an increase of 4.55%, to close at 19525.00 points, and the Hang Seng Technology Index rose by 9.25%. (Wind, 2022.12.05)
Such a rise has also greatly mobilized the sentiment of the market. We have seen more discussions about Hong Kong stocks in the market, which is a good thing.
In our previous strategy reports, we have expressed our bullish view on investment opportunities in Hong Kong stocks in the medium and long term, and we are still bullish up to now, and there is a possibility of consolidation in the short term.
Today I will talk to you about these, the core points are as follows:
1. The 3200-point market is still full of investment value and opportunities in the medium and long term;
2. The market of the undervalued value sector is expected to continue for a period of time, and the growth sector may continue to consolidate for a period of time;
3. In the medium and long term, the last thing to look at in investment is growth;
4. The Hong Kong stock market is still optimistic in the medium and long term, and there is a possibility of consolidation in the short term;
5. Every Monday is still the day when my family votes, and one copy will be sent out normally.
I am silent, insisting on researching and analyzing funds every day,
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A “Fund Review” video every trading day,
A weekly strategy report is released every Sunday,
Maintain efficient communication and communication at any time, a fund investor who insists on improving research capabilities.
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【Information Sharing】
1. Panoramic scan of new public offering funds in 2022: innovative product highlights appear frequently (funds)
According to Wind data on December 4, from January 1, 2022 to December 4, 2022, a total of 1,308 public offering fund products were issued in China, a year-on-year decrease of 31%; the overall issuance scale was 1.34 trillion units, a year-on-year decrease of 55% .
However, Wind data also pointed out that although the issuance of domestic public offering funds will be cold in 2022, the total share will still remain above one trillion shares. This is the fourth consecutive year that domestic public offering fund issuance has exceeded one trillion shares.
According to data from Wind Data on December 4, from January 1, 2022 to December 4, 2022, the share of domestic equity public offering fund products has shrunk sharply, among which the issuance scale of equity funds has decreased by 63% year-on-year, and the issuance scale of hybrid funds has decreased significantly. The fund issuance scale decreased by 84% year-on-year.
At the same time, the share of domestic fixed-income public offering fund products has risen sharply. For example, the issuance scale of bond funds has increased by 15% year-on-year.
Wind data pointed out that 2022 will be a year for the domestic public offering fund industry to focus on innovation in fixed-income products. Products such as public offering REITs, policy financial bond ETFs, and interbank certificates of deposit funds have all achieved very impressive issuance results this year.
Some institutional investors told the reporter of China Fund News that due to the large fluctuations in the equity market in 2022, related products are “not easy to launch”, so the relatively high proportion of fixed-income public offering fund products in the year is also a market choice.
However, the above-mentioned institutional investors still said that investors who choose to enter the market during the low tide of equity public offering fund products often have a shorter time to obtain excess returns, and the excess returns are often higher.
2. The commercial pension business will start piloting in 2023 (insurance and others)
According to the announcement on the official website of the China Banking and Insurance Regulatory Commission on December 1, the “Notice of the General Office of the China Banking and Insurance Regulatory Commission on Launching the Pilot Program of Commercial Pension Business of Pension Insurance Companies” was officially announced on December 1, 2022. The “Notice” clearly delineated 10 Provinces (cities) and 4 insurance companies carry out pilot business, and the pilot period is tentatively set for one year.
Flush data shows that Shenwan Secondary Insurance and other industries have recently increased by 4.98%, ranking first, with a net inflow of 2.418 billion yuan, ranking fifth.
China Galaxy’s research report on December 2 pointed out that after the adjustment of the equity financing policy of real estate companies, the operation of related companies is expected to gradually return to normal, and the investment risks of insurance companies in related companies are gradually being resolved. In 2019, the insurance sector is expected to usher in a valuation repair.
3. Announcement of the three-year action plan for comprehensive services of central enterprises (road and rail transportation)
According to the announcement on the official website of the Shanghai Stock Exchange on December 2, the “Three-Year Action Plan for Comprehensive Services of Central Enterprises” was officially announced on December 2, 2022. Improve the modern enterprise system with Chinese characteristics.
According to a comprehensive report by CCTV News on December 2, both the official websites of the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced on December 2, 2022 the work plan for implementing the “Three-Year Action Plan for Promoting the Quality Improvement of Listed Companies (2022-2025)”. The relevant programs of the institute all focus on improving the quality of listed companies.
According to Flush data, Shenwan’s secondary road and railway transportation industry rose by 2.83% today, ranking fourth.
The research report of Industrial Securities on December 2 pointed out that the current total market value of central enterprises only accounts for 27.9% of the A-share market. Not only is the relative valuation low, even compared with its own historical valuation, it is also at the historical bottom. The capital market should play better The intermediary role of the bridge creates a central enterprise sector with vigor and vitality.
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Warm reminder: This article does not constitute investment advice, the market is risky, and investment needs to be cautious.
Managed fund investment advisory services are provided by Yinhua Fund Management Co., Ltd. Regular fixed investment is a simple and easy investment method to guide investors to make long-term investment and average investment cost. However, regular fixed-amount investment cannot avoid the inherent risks of fund investment, nor can it guarantee investors’ income, nor is it an equivalent financial management method to replace savings. The investment advisory portfolio recommendations may include fund products managed by Yinhua Fund and fund products managed by other fund managers. Before using the fund portfolio service, investors are requested to carefully read the relevant agreements, business rules and strategy instructions, fully understand the details of the portfolio and the fund allocation of the portfolio, and confirm that the portfolio is in line with their own risk tolerance, investment period and investment goals. Investors should follow the principle of “buyer is responsible” when investing in fund investment advisory portfolio strategies. On the basis of a comprehensive understanding of the risk-return characteristics, operating characteristics and appropriate matching opinions of fund investment advisory portfolio strategies, investors should choose appropriate fund investment advisors based on their own conditions. Combination strategies, cautiously make investment decisions, and independently bear investment risks. Yinhua Fund does not guarantee a certain profit and minimum return of the fund’s investment portfolio strategy, nor does it make a commitment to guarantee capital. The risk characteristics of fund portfolio strategies are different from those of individual fund products. The past performance of investment advisory services does not indicate its future performance, and the income created for other investors does not constitute a guarantee of performance. The fund investment consulting business is still in the pilot stage, and there is a risk that fund investment consulting institutions will not be able to continue to provide services due to the cancellation of the pilot qualification. Funds are risky, and investment needs to be cautious. #Fund Creator Incentive#
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