The Index Enters A Steady Stage And Expects The Market To Be Optimistic.

For two consecutive years, Zhang Xiaoren, the new fund manager of Baoying, who is the champion of the hybrid fund, believes that the market is still expected to be more active.

On the one hand, loose funds continue and the trend of cost decline is basically established; on the other hand, the redistribution of residents' asset allocation still has a large space. In the 2013-2014 consecutive two years, the return rate of equity market is better than other assets. Finally, the policy level is still favorable for the development of the stock market.

But after the surge of blue chip stocks, the rush to chase big votes is likely to be over. If it fails to continue to show good money making effect, some blue chip funds may gradually withdraw, and the pace of new capital will also slow down.

Overall, the index still has room for improvement, but it may enter a relatively stable stage.

The concession value fund manager also indicated that in the first quarter, the economic growth was weak but the downside risk was limited. The further downside of the market risk-free interest rate was a big probability event. In terms of policy, the government promoted the reform of state-owned enterprises to enter a critical stage, and monetary policy and fiscal policy remained relatively stable under the expectation of steady growth. At the market level, the bull market at the end of 2014 increased the risk preference of investors, and gradually increased the incremental capital into the stock market. Stock index options and other derivatives may be launched, and the stock issuance registration system may enter the implementation stage.

These factors have a positive impact on the market.

At the same time, the sharp change of style in the fourth quarter has further increased the volatility of the market, which will continue in the first quarter.

Huatai parei positive growth fund manager said that after a short period of rapid rise, the market is facing adjustment pressure, but overall, market optimism has not changed, the market may further deepen, hot spots may spread.

The promotion of crude oil prices, the deregulation of various regulations and the implementation of large national strategies may bring good investment opportunities to relevant enterprises and industries.

At the same time, the rapid rise of margin trading has changed the original operation characteristics of the market, and the market shock will be more intense.

In addition, IPO's scale and rhythm, follow up

The number and so on will have an important impact on the further rise of the market.

In terms of opportunities, the manager of Haitong national strategy guidance fund, who won the second runner up of the stock fund in 2014, believes that as one of the main means of stabilizing the economy, the related industries of the "one belt and one way" plan will be gradually recognized and valued by the market before next year's two sessions.

With the gradual implementation of the policy and the gradual confirmation of orders, the Blue-chip company will further bring about the double enhancement of valuation and performance.

The growth assets of the growth enterprise represented by gem and the pressure to meet the performance of the pition assets in the annual report will represent the direction of future economic development after the inspection and screening of the performance. The relevant industries and stocks with real high growth capacity will regain the favor of the market.

Zhang Xiaoren believes that the industry that focuses on two major parts, one is the super white horse, in terms of valuation, dividends, policy trends and other areas of dominance; two is a small ticket with explosive growth prospects, mainly the Internet, advanced manufacturing.

Fei Peng, a manager of the Chinese wholesale market quantitative selection fund, believes that the bigger blue chips in the fourth quarter of 2014 and the emerging sectors with high valuation will face some adjustment pressure. The plate with rising potential will focus on nonferrous metals, oil services, photovoltaic, agriculture and medicine.