Financial Guide: Active Fund Has Excess Return

The strategy of "one belt and one road" can achieve closer economic cooperation among countries through the geographic interconnection between the countries and regions along the border. In the early stage of strategic development, iconic projects are mainly distributed in railway and highway pportation projects, and will gradually expand to other fields such as manufacturing, energy and services.

Therefore, the sustainability of the theme is very strong, and the number of listed companies is relatively large. Compared with direct investment stocks, most individual investors share the national policy dividends through the allocation of thematic funds.

In the investment process of the "one way and one" thematic fund, if investors have less investment experience or longer investment interval, then it is more appropriate to choose the active management type.

With good timing, profit and stop loss experience, it is also a good idea to invest in a long-term high position index.

Because the "one way" thematic fund belongs to the stock and mixed type, the risk of the product is higher. When the stock market is unfavourable, the fund performance tends to have a larger withdrawal. Therefore, it is suggested that the investor control the position when buying.

Because the volatility of thematic funds is often larger than that of ordinary funds, investors can gradually accumulate chips through fixed investment. When the market position is too high or the level of earnings reaches the expected value, they choose to stop the fixed investment or quit earnings.

Because the performance gap between different "one way and one way" thematic funds is relatively large, the simultaneous allocation of multiple products can also enhance the stability of the assets of the whole fund.

As a national strategy, "one belt and one road" has attracted a lot of attention in recent years.

The promotion of policies is a rare development opportunity for the countries along the way, the internationalization of RMB, the domestic infrastructure industry and related enterprises. It is also one of the hot topics for the capital market, and it often leads a series of policies.

Market quotation.

In the first half of this year, the Shanghai Composite Index fell 17.22%. In the same period, the index of the "one belt and one way" index fell by 25.22%, which is a typical overfall index. At the same time, the corresponding "one belt and one way" thematic fund interval performance is not ideal, ranking behind all kinds of thematic funds.

However, there has been a strong rise in the theme of "one belt and one road" in the near future.

The "one way" thematic fund has increased by an average of 5.53% since October.

Next, let's review the pformation process of "one belt and one road" from overfall to counterattack.

"One belt and one road" is a hot topic in recent years, which has attracted more funds in the capital market.

With the implementation of the strategy of "one belt and one road" in many countries and many places, the industry represented by high-speed rail, nuclear power and infrastructure has been further developed through "going out".

In the bull market last year, the concept of "one belt and one road" was eye-catching in many themes, and the bull market led the story frequently.

With the stock market's deleveraging, market sentiment turning cold and sharp decline in stock index, a large number of conceptual plates have been largely retraced, and the "one belt and one road" theme stock has not been spared.

This year, with the gradual increase of overseas orders and the signing of the national cooperation agreement, especially the recent positive visit to Philippines, it also has the following themes:

Co overlay led to the outbreak of the "one belt and one way" concept.

According to Jinniu financial network statistics, from April 2015 to August, a total of 15 public fund companies have set up the "one belt and one way" thematic fund.

At present, there are 10 "one way and one way" thematic index funds operating on the market, which fell by an average of more than 22% in the first half of this year, down by more than 5 percentage points over the Shanghai Composite Index, and ranked sixth in the 39 thematic fund classification, which is only slightly better than 5 theme indexes such as recreational and sports entertainment and state-owned enterprise reform.

As of October 21, 2016 closing, the "one way" thematic index fund has achieved an average yield of 8.35% since October, and its performance is only inferior to a theme index of infrastructure projects, ranking second.

In the market, there are 6 active management "one belt and one way" thematic funds. The average performance since October is only 1.75%, far less than the index type. But this year, the average performance -4.36% of the active "one belt and one way" thematic fund is significantly better than the index's average performance -14.04%.

The main reason is that the active fund has many advantages over the passive index type in terms of location and stock selection.

Accordingly, a conclusion can be drawn that the advantage of index funds in the short wave band operation is more obvious, while in the long term, the larger the probability of excess returns for the active fund is.