Shock Is The Main Theme Of The Market.

At present, China Post strategic emerging industry is still holding the champion chair with 76% of its performance, and leading second points by 27 percentage points.

The sustainable development of ICBC information industry and finance and communications has been equal to 48.61% and 48.57% this year.

The yield of the three funds of Changxin quantitative stock, Chinese business theme selection, and the big Mo multi factor strategy also differ little, ranging from 46% to 47.6%.

Among the top ten are the value growth stocks of Pu Yin an Sheng, Baoying resources stock, the yield is above 40%, and the core strengths of China post are flexibly configured and the value of Chinese business. These two funds have exceeded 38% this year.

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Three the end of the quarterly report, the leaders of these public funds to the market judgement also surfaced, for investors, the reference value is self-evident.

China Post strategic emerging industry Ren Ze song: the future is still structural market.

In the three quarter, China's post strategic emerging industries still seized 21.04% of the yield. From the position, the fund manager Ren Zexin sharply increased the stock market in the three quarter, and its stock position rose from 60.60% at the end of the two quarter to 90.61% at the end of the three quarter, an increase of 30 percentage points.

In 2014, the overall economy is still in the process of slow down, but at the same time, it is also the initial stage of economic growth pformation. In the short term, this year's economic growth rate will slow down.

But in the medium to long term, the pformation of economic growth will make new economic growth power develop rapidly and inject new vitality into the market.

"We believe that under the guidance of the expected reform, the structural pformation of China's economy will enter an accelerated period. The driving force of economic growth will gradually upgrade from the former real estate industry chain and heavy industry to high-end manufacturing, new consumption and modern service industries.

Therefore, the market's future probability will still maintain the interpretation of the structural market.

"In terms of industry allocation, we are still optimistic about the strategic emerging industries representing the future direction of China's economic development, such as the Internet industry, information security industry, biomedicine, environmental protection and other industries."

Therefore, Ren Ze song believes that the industry representing the future economic pformation will have better market performance, such as the Internet industry, biological medicine industry, new material industry and environmental protection industry.

However, the cyclical plates highly related to the overall macroeconomic are lack of trend opportunities.

In the three quarter, under the premise of more fluidity, growth stocks went out of a more persistent trend market. The industrial information technology, medical informatization, digital marketing and the Internet area of the ICBC information industry all received better investment returns, so the net value increased by 21.69%, while the benchmark yield of the same period was 14.35%.

On the whole, reform and pformation have clearly become the main line of investment in the market, and the effect of making money is more significant.

"We judge that the four quarter will further extend the trend of the three quarter, and the upward trend is the main theme of the market."

Liu Tianren said.

The macro economy has entered the new normal, and there is a pressure to maintain.

The reform measures of the securities market management have also achieved good results, and the new capital increase has a strong desire to enter the market.

Liu Tianren estimated that the opportunities in the industry mainly came from the Internet, new energy vehicles, film and television culture, information security, military industry and other industries with little macroeconomic impact but obviously benefited from the direction of pformation.

Zhao Jianshen: the current market risks and opportunities coexist.

In the three quarter, the sustainable development of Finance and communications was mainly matched with a good foundation, sustainable development potential, or a certain margin of safety. The stock of actively seeking pformation, the net value of the fund increased by 29.83%, the growth rate of the benchmark growth rate was 10.72%, and the benchmark of the performance comparison was 19.11%.

Fund manager Zhao Jianshen believes that the main factors that affect the market trend in the four quarter lie in the macroeconomic fundamentals and the progress of IPO.

On the one hand, although the macro-economy has stabilized in the two or three quarter, the sustainability needs to be observed. Some important economic indicators have not yet been stabilized. On the other hand, the intensity and speed of economic reform are steadily advancing at present. However, we need to further observe the concrete follow-up actions of the new government reform. Finally, because of the restart of IPO, the rhythm of IPO will affect the supply of small cap stocks in the A share market.

Zhao Jianshen believes that the current market risks and opportunities coexist.

On the one hand, many large blue chips PE is at 7-12 times, valuations are at the bottom of history, and fundamentals are relatively solid, valuations have been in line with international standards, and some industries are lower than those of H-shares in the same industry.

At the same time, some of the small cap stocks in the market are at a high level of valuation, and their profits obviously can not match their high valuation requirements. In the context of the normalization of IPO's future registration system, such stocks may have a reasonable return valuation.

On the choice of investment targets, Zhao Jianshen indicated that he would choose companies with good fundamentals and sustainable development potential, while paying attention to the main investment opportunities in the fields of strategic emerging industries and state-owned enterprises reform.

Liang Yongqiang, the theme of Chinese businessmen: the most growth of military industry in the future

Based on the value of long-term investment in the military industry, the selection of Chinese business themes increased the proportion of investment in the military industry in the three quarter. As a result of the outstanding performance of the military industry, the net value of the fund in the three quarter also rose 27.78%.

Over the same period, the benchmark yield was 10.11%, which was 17.67 percentage points higher than the benchmark yield.

Liang Yongqiang, a fund manager, is optimistic about the military industry. He said in the three quarterly report that "China's revival is irresistible, and it will inevitably face many external obstacles. The strategic position of the military industry in this process continues to highlight. As the leading industry in the past more than 10 years, the real estate problem has become more and more, and the trend of real estate development has become. As a large volume and long chain, the military industry is likely to become the leading industry in the future Chinese economy."

"The military industry may become the most growing area in the long term and will become the core configuration of future portfolios."

With the trend of global intellectualization, the IC industry will continue to be the biggest beneficiary. Therefore, enterprises involved in chip design, packaging, manufacturing, raw materials and equipment will continue to grow rapidly and will also become an important configuration of the fund's portfolio.

In addition, biomedicine, new materials, new energy and cultural media will also be very flexible demand points in the future. Investment opportunities in these fields will emerge in an endless stream, and will also be the key direction of selected investment for Chinese businessmen.

BAOYING resources optimization: the release of dividend reform is still the biggest driving force in the stock market.

In the three quarter, the optimal yield of Baoying resources was 24.61%, while the benchmark yield of the same period was 10.11%.

In the three quarterly report, fund manager Peng Dang said that from the market perspective, the profit effect of the stock market has initially appeared, and social capital has begun to flow into the stock market.

From a global perspective, China's long-term trend of capital interest rate is more determined and its decline is even larger.

Rising space is obvious.

In the long run, China still has room to improve economic growth through reform and pformation. The release of reform dividends is still the biggest driving force in the stock market.

"We pay particular attention to the actual progress of fiscal and taxation system reform and state-owned enterprise reform."

Peng dare.

It believes that the main investment opportunities in the fourth quarter come from the rebound in the market capitalization, especially the high dividend rate companies.

In terms of growth stocks, with the sharp fall in the stock market in the Nasdaq market, there are no substantial achievements in some A share stocks, and stocks with pure hype themes have a larger risk of downfall.

In the medium to long term, we will continue to value the energy technology industry (including new energy, new energy vehicles, oil clothing), and mobile Internet related industries (such as information security, Internet Education and health care, e-commerce and mobile payments).