Investors Are Divided On Whether Blue Chips Can Continue To Be Strong.

The latest annual report of the fund shows that the performance of blue chips in 2016 is stronger than that of small and medium sized enterprises.

The structure of fund ownership has changed, and the market value of holding small and medium sized stocks has been reversed by the market value of the Shanghai stock market.

By the end of 2016, equity funds (including index funds) had a market value of 266 billion 20 million yuan for small and medium board stocks, and 193 billion 410 million yuan for GEM stocks. They were 42.23% and 44.81% lower than those at the end of 2015. The stock market value of Shenzhen stock market was 179 billion 610 million yuan, 28.77% yuan lower than 252 billion 170 million yuan at the end of 2015.

In other words, the market value of equity funds held by Shanghai equity funds is about 73 billion 400 million yuan.

From historical data, the market value of equity funds held by small and medium sized stocks has increased significantly and surpassed that of the Shanghai stock market in 2015.

This year, the Shanghai Composite Index, gem and small and medium-sized boards rose by 9.41%, 84.41% and 53.70% respectively.

In 2016, the strength of A stock index changed, and the Shanghai Composite Index, gem index and small and medium board index fell by 12.31%, 27.71% and 22.89% respectively.

The main board stock in Shanghai stock market has a downward trend compared with small and medium sized stocks, which means that even if the fund shares remain unchanged, the market value of holding small and medium sized stocks will also decline.

The fund holds the stock market value of the Shanghai stock market, and it creates a stock market value. Another important factor is that the market style changes quietly in the second half of 2016, and blue chips are favored by funds.

A group of blue chips in 2016 reversed the trend to win the market, and this year since the continuation of the rally, creating a more obvious money making effect.

Subsequently, in the fourth quarter of 2016, the structure of the public offering fund was adjusted, and the positions of the blue chip stocks, such as manufacturing and finance, rose slightly, while the positions of small and medium sized stocks decreased.

In the face of gem's failure to keep 2000 points, many funds took the initiative to adjust the warehouse behavior, and turned to the two main board stock.

A typical example is that

Last year, the "catch up" liquor stocks increased significantly from the end of 2015 to 7 billion 200 million yuan at the end of 2016, while the market value of Guizhou Moutai holdings increased significantly.

The Internet technology that once surpassed Guizhou Moutai became the "first high priced stock of two cities". From the end of the three quarter of 2016, 107 funds were heavily loaded up to 34 at the end of the year.

Looking at stock price performance, Guizhou Moutai has hit a new high, and has risen by about 80% since 2016. Although the performance of Internet technology increased by 50.41% in 2016, the latest price dropped by more than 45% compared with the July 2016 high.

Some funds are very firm.

For example, Cathay Pacific Internet + equity fund at the end of 2016, the ten largest heavy stocks, in addition to 2 small and medium board stocks, the rest are all motherboard stocks.

Among them, bank shares and liquor stocks accounted for 3 each, and the first heavy share Guizhou Moutai held a market share of 9.19%.

At the end of 2015, there were 7 small and medium sized stocks in the ten major heavy positions, of which the top four heavily loaded stocks were GEM stocks.

The fund reported 2016 years ago that with the implementation of policies such as "de going to reality" and "supply side reform", the profits of the traditional listed companies have been significantly restored. Correspondingly, the traditional industries, such as banks, home appliances, buildings and so on, whose profits improved greatly, such as liquor, coal and so on, are better.

Penghua consumption preferred hybrid fund at the end of 2015, the ten heavily loaded stocks are all

The stock market ended at the end of 2016 and became the main board stock of Shanghai and Shenzhen two cities.

Among them, Guizhou Moutai became the first heavyweight stock, holding a market share of 6.4%.

As of April 12th, the fund's net worth grew by 15.6% since 2017.

In the end of 2016, the banking sector accounted for 6 of the ten major heavy positions, but no bank shares at the end of 2015.

As of April 12th, the fund's net worth growth rate was 14.3% since 2017.

Heavy blue chips have brought better net growth performance to some funds, while the funds with small and medium sized stocks as the main investment targets have not performed well, and the difference between them is obvious.

However, investors are divided over whether the blue chips will continue to be strong.

There is a view that, in the context of the difficult market trend of rising trend, some blue chips have basically completed the valuation of the repair, the market potential is not optimistic, and may even face the pressure of profit taking.

Some agencies believe that this year's incremental funds are mainly pensions, venture capital, Shanghai Hong Kong Tong and Shenzhen Hong Kong capital, and the market style is still beneficial to the "big and beautiful" white horse stock.

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