Dacheng Fund Yang Jianhua: Gem Stock Market Trend Will Be Divided

7 months after the opening of the gem, the gem index appeared yesterday. Yang Jianhua, chief investment officer of Dacheng Fund stock department and fund manager of Dacheng core dual power fund, said that the debut of the gem index marks the establishment of a multi-level capital market index system for China's main board, small board and gem. Yang Jianhua believes that as the number of listed companies on GEM is increasing and coverage is wider, the valuation level of gem will gradually return to reason. After that, the trend of gem stock will show obvious differentiation. Real quality companies can continue to be recognized by the market and maintain relatively high valuations, while the price of poor companies will be further adjusted. Recently, some GEM companies have broken down, and the overall valuation level of gem is substantially reduced.

It is understood that Yang Jianhua is about to take charge of the new fund Dacheng core dual power is the market to take the lead in the small and medium sized board, the gem as a target of investment funds. Yang Jianhua said that the Dacheng core dual power is mainly to select stocks and industries that benefit from domestic demand growth and invest in stocks. The fund has "dual power", that is, the two satellite strategy - "aggressive strategy" and "excess profit strategy". Among them, the aggressive strategy takes small and medium sized board and gem stock as the main investment objects, selects high growth stocks to build portfolios. The stocks selected by this strategy show a higher risk return characteristics, and this part of investment will not be higher than 40% of the fund's stock assets. This part of the investment weight is slightly smaller, but the choice of space is broader, investment operation is more proactive and flexible.