Small And Medium Board Gem Is High

From the policy point of view, along with the stimulus policy of state-owned enterprises reform, military industry, real estate, Internet + and so on, the market theme investment is active. From the perspective of capital, the central bank lowered the reverse repo rate three times a month, guiding the interbank interest rate downward intention obviously, and the capital side continued to be loose; from the market performance, this week stock index high volatility, the volume continued to enlarge, the theme stocks were active, and the market strength characteristics were obvious. In general, although the HSBC PMI value announced this week has had a certain impact on the stock index, the economic growth rate has already been expected. The two major driving factors for the stock index rise are: liquidity and reform expectations have not changed. In fact, the current intensity and scope of the reform are unprecedented. This will drive the stock index to continue upward. In the short term, the accumulation of earlier gains is a great pressure on stocks. But in the medium and long term, the stock market rally has not ended. It is expected that the theme investment will be more active in the future, and the stock index will go up in turn. It is suggested that investors continue to maintain a relatively high proportion of partial fund allocation and pay close attention to fund managers' experience and investment philosophy. Investment logic More mature partial equity fund products.

In the current period, the market has generally risen, and the partial equity funds have risen or fallen. The yield of 1132 open-ended equity funds is between 10.41% and -0.69%. According to the classification, the active equity fund increased by 4.31%, the index fund increased by 3.21%, the hybrid fund increased by 3.40% on average, and the bond fund decreased by 0.09%. In the index funds, the performance of funds tracking information technology and national defense industry index is in the front. The index performance of tracking agriculture and financial real estate is lagging behind. The funds that are actively engaged in new industries and focusing on growth style perform better. Under the dual influence of seesaw effect and debt market adjustment caused by rising stock index, bond funds are performing at the same level as the ordinary two tier debt base. The convertible bond fund and the first class debt base are on the back of performance, and the QDII fund is investing in it. gold The varieties of oil, energy and so on are in the front. The performance of money market funds and short-term financial funds is stable, with an annual yield of 4.44% and 4.51%.

　　 Partial equity fund At present, the two driving factors of the stock index rise are: liquidity and reform expectations have not changed. In fact, the intensity and scope of the reform are unprecedented. This will drive the stock index to continue upward. In the short term, the early accumulation and increase will form a certain pressure on the stock index. But in the medium and long term, the stock index rising market has not ended. It is expected that the theme investment will be more active in the future, and the stock index will be driven up in turn. It is suggested that investors continue to maintain a relatively high proportion of partial fund allocation and pay close attention to fund managers' experience, investment philosophy and relatively mature investment fund products.

Bond funds: from the perspective of economic data, the domestic economy is still in the doldrums, monetary policy continues to be loose, and there has been no significant change in the environment of the bond market, such as upward trend in economy, inflation, policy and capital. However, the stock index continues to rise and the issuance of new bonds such as new stock and preferred stock will divert the bond market funds, while the long end yield has limited downward space, close to the end of the season, and the pressure of bond market adjustment will increase, and the bond market will remain a shock adjustment pattern.

QDII Fund: crude oil and gold will continue to be cautious. Considering the mature capital market system and stable economic and securities market structure, QDII is still an important tool for asset allocation in the medium and long term.

Monetary Fund and financial bond fund: Although the interest rate reduction environment is facing, the interbank interest rate center has not been affected. This is obviously higher than that of last year. The average annual yield of money market funds continued to remain at around 4.5%, and the performance is relatively stable, which is still a good tool for cash management. Pay attention to ICBC currency, South cash profit increase, GF A.