The Fund Market Has Gone Out Of The Spring Market, And All Kinds Of Funds Have Also Entered The Market.

February is the first trading month after the Spring Festival. The market is out of the spring market, and all kinds of capital have also entered.

Among them, the performance of private equity funds was more positive, and the positions increased by 9.28 percentage points to 71.73%.

In terms of industry preferences, private placement increased the largest number of food and beverage sectors in February, while utilities were reduced by many private placement companies.

However, for the future market, many private equity companies may not be able to keep up the momentum in the short term, and the spring market is about to end.

Data show, selected Huarun trust China

The index of 176 open private equity investment products, after 2.46 percentage points increase in January, continued to increase 9.28 percentage points in February, with an average stock position of 71.73%.

Among them, 61.7% of the private placement products hold more than 80% positions, and 88.65% of the private placement stocks hold more than 40% of the stock positions.

According to the flow of funds, the preference of private equity funds to the industry has been fine-tuning.

In February, private placement reduced public utilities, chemical industry, information equipment, textile and clothing, information services and so on.

Reporters noted that since March, the overall performance of the home appliance sector has been good, and the increase has reached 2.3% in the context of overall market stability, indicating that private placement in February has a certain prospect.

At the same time, it has increased food and beverage, financial services, building materials, household appliances, medicine and biology.

On the whole, medical and biological industry is still the highest proportion of private placement, accounting for 19.93%, and the proportion of financial services and food and beverage sectors is more than 11%, followed by mechanical equipment and household appliances.

The spring market may have ended, for three reasons:

1.

The rate hike is beyond expectations.

From the low probability to the present, the US economic data are all better than expected.

This not only brings pressure on emerging markets to bring pressure on exchange rates and monetary tightening, such as China's monetary policy may follow suit, market interest rates go up, and pressure on global commodities, so commodities have fallen more recently.

And the last round of the rise, the cycle has made a larger contribution, the price of the cycle now down, directly causing the decline of the plate, at least very difficult to make a breakthrough.

2.

There is a big divergence between the PPI data and its sustainability.

Is PPI a phased high point? Will the two quarter of PPI come down? Wang Yicong believes that although the recovery of the global economy has not yet started on a large scale at this stage, Trump's new deal has not yet been opened on a large scale, and there has been no large-scale outbreak of demand, but because the supply side reform has gone far ahead of expectations, he is inclined to think that PPI is also a high level.

3, from the market style, recently

Start to grow.

But this is the style switch that is not enough under the adjustment of growth stocks, so its sustainability has some problems.

Small and medium-sized rebounding market is also likely to encounter resistance, coupled with tighter regulation, which will bring some pressure on the continued expansion of the small and medium-sized enterprises at this stage, so it is likely to continue to call back.

Based on the above analysis, Wang Yicong expressed cautious attitude towards the market. "Our position has been very low, waiting for the market to fall down."

With the upward divergence and volatility of the index upward, the hot spots are scattered and the main line is lacking. The kinetic energy in the short-term market may be slightly inadequate, which overlay the recent surge in the US Federal Reserve's interest rate hike in March. At present, it is a big probability event, which may suppress the further rise of market risk preference.

For the future, the investment judgment market may show a stage of shock situation, while the stock will further differentiate.

Yu Dingheng believes that the two sessions will soon pass through the stability window. From the game level, the probability of institutional adjustment of positions after the two sessions is relatively large.

In addition, from the macro data in February, he said that CPI and PPI were at the top, and that the cyclical industry profits might be the best when they were in the past.

However, although the market may face the double squeeze of fundamentals and liquidity after the two sessions, Yu Dingheng believes that the housing market, the bond market spillover funds and social security pension funds are all on the sidelines. Once the market is showing a decent decline, it is a great opportunity.

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