Public Private Offerings Plus Lighten Up Differences Increase Or Shock In The Aftermarket

Overall, from the situation of public fund positions, the position of public funds declined after the index rebounded sharply last week.

Some low position private equity funds have recently started to significantly increase their positions, while fund managers with higher pre positions have chosen to make profits.

A shares this round of "autumn grab" market, a group of small and medium-sized stocks have increased by more than 50%, with the increase in profit making, institutional capital game began to intensify, the bottom of the September in the withdrawal, and not buy in the early stage, the market or will enter a state of intense concussion.

However, at present, liquidity is still very abundant. In the view of some fund managers, equity assets have become the most long-term assets with a long-term investment value after a substantial decline.

In the view of the fund, it is necessary to ignore the fluctuation of index. The future stock split or aggravate further. It is necessary to select companies with high sensitivity and industry prospect to invest.

In the view of fund managers, the next market shock will intensify. On the one hand, the differences between institutions will increase. In addition, profit margins will increase, and the market will gradually enter the intensive trading area.

However, from a number of considerations, the Fund believes that the valuation center of the stock market will be lifted and there is limited market space. The investment opportunities from the economic restructuring field are worth looking forward to.

Ouyang Fan, general manager of the specific asset management department of the time fund, believes that the yield of credit bonds continues downward. Taking Real Estate Company as an example, in the bond market, it can use 5% of the cost of financing, corresponding to about 20 times PE, while the stock PE is about 6-8 times. From this point of view, the security of the stock price value and the future expected earnings are significantly higher than the bonds.

In the view of fund managers, the next market shock will intensify. On the one hand, the differences between institutions will increase. In addition, profit margins will increase, and the market will gradually enter the intensive trading area.

However, from a number of considerations, the Fund believes that the valuation center of the stock market will be lifted and there is limited market space. The investment opportunities from the economic restructuring field are worth looking forward to.

Ouyang Fan, general manager of the specific asset management department of the time fund, believes that the yield of credit bonds continues downward. Taking Real Estate Company as an example, in the bond market, it can use 5% of the cost of financing, corresponding to about 20 times PE, while the stock PE is about 6-8 times. From this point of view, the security of the stock price value and the future expected earnings are significantly higher than the bonds.

The result of the calculation of the location of Chung Lu Fund Research Center shows that the average position of the open equity fund has dropped 2.35 percentage points to 79.16% from 81.51% before the festival, of which the average position of the equity fund is 85.38%, down 2.38 percentage points from the previous week, while the average position of the mixed fund is 67.99%, down 2.30 percentage points from the previous week.

Among them, 99 funds chose to add positions, while 285 funds chose to reduce positions, and 153 funds remained unchanged.

Some low position private equity funds have recently started to significantly increase their positions, while fund managers with higher pre positions have chosen to make profits.

Low position

Generally began to enter the field, such as the net value of its investment fund from zhe hee, also almost started from the empty position to enhance the position.

However, before the higher position of some private equity funds, the recent positions began to decline.

A private equity fund research director said that the management of the fund before the election to increase positions, the warehouse rose to about 7 percent, began to gradually reduce positions on Friday, mainly for the huge volume of the gem has some concerns, the current position is about 5 percent.

"Some people think the rebound is beyond expectations, the bottom has been completed, and others feel that the fundamentals have not improved and the market will fall."

Haitong fund managers believe that at present, the fund interest rate remains low, and there is no outflow of money. The market will not fall. At the end of September, the market began to rebound after the clearing up.

Because the positions in the early days were lighter, market funds were more abundant.

In any case, the market has a short-term effect of making money.

A fund manager of a large fund company believes that the cost of capital will drop sharply in the future, and China and the whole world will suddenly face the shortage of assets, and the stock market will become a good investment channel.

He said that we need to find industries that still need them.

Do not buy clothes, food, shelter and pportation, but layout culture, culture, education and physical culture.

In addition, actively concerned about innovative enterprises, mainly in terms of Internet innovation, Internet finance, Internet supply chain and so on.

In terms of specific investment, Sun Qingrui, managing director of Gao Yi asset, is more optimistic about investment opportunities in the media industry.

"From the current economic situation, per capita GDP,

To a certain extent,

The proportion of investment in China began to decline and the proportion of consumption increased gradually.

Sun Qingrui said.

In addition, some environmental protection, some medicine and individual Internet are also worthy of attention.

"From the perspective of steady growth, the auto industry is expected to rebound from the favorable tax policy. From the perspective of the reverse of capacity cycle, agriculture, forestry, animal husbandry and fishery may continue to rebound."

Southern fund equity investment director Shi Bo believes.

Fidelity's growth fund manager Wang Rui is optimistic about the three main investment lines.

Wang Rui said that the industry is highly selective, highly sensitive, highly sensitive, and has a long industrial chain and large volume, which can accommodate more financial expenditure and stimulate employment.

First of all, he is optimistic about the PPP industry represented by the environmental protection infrastructure. Secondly, he is optimistic about the new energy vehicle industry chain. Finally, he also looks forward to the direction of the system reform, which includes three directions, namely, the medical system reform, the natural gas system reform and the power system reform.

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