Nanxia Fund Group Technology Stocks: Earnings Soared In The Past Month, Market Allocation Enthusiasm Soared

Since the beginning of the year, the performance of the Hong Kong stock market has been particularly noticeable.

On January 25, the Hong Kong stock market soared by 2.41% in a single day, breaking through 30000 points, and the Hang Seng technology index rose by 4.51%, breaking through 10000 points for the first time.

As of January 26, the Hang Seng index was up 7.93%, boosted by the explosion of technology stocks, the Hang Seng Index rose more than 18%.

In fact, with the continuous rise of Hong Kong stock market since the beginning of the year, many Hong Kong stock funds have performed well, and the income of the foundation people has also increased greatly.

At the same time, in recent years, "going south to Xiangjiang" has become the key word of various organizations. Many organizations have given feedback to 21st century economic reporters, pointing out that the investment opportunities of Hong Kong shares will be better than that of a shares in 2021.

"Compared with a shares, Hong Kong shares have a greater discount in valuation, such as bancassurance and traditional industries, which are much cheaper than a shares. At the same time, it is also true in other emerging areas. For example, in the software and Internet industries, as well as in the semiconductor and sports apparel industries, Hong Kong stocks have better choices in terms of company quality, growth and stock price valuation level. Compared with a shares, Hong Kong shares have better choices of targets and a better margin of safety. " The investment director of a public fund in Beijing told the reporter of the 21st century economic report.

Public offering Baotuan technology shares

While the Hang Seng technology index broke through 10000 points, the performance of some A-share scarce technology stocks was very outstanding.

For example, Tencent Holdings (0700. HK), meituan-w (3690. HK) and other Hong Kong technology stocks held by public funds. On January 25, Tencent holdings closed up nearly 11%, while meituan rose nearly 5%.

So far this year, as of January 26, Tencent Holdings has increased by more than 27%, and meituan has increased by more than 28%.

It is worth noting that many star funds have invested heavily in these technology stocks according to the fourth quarter report of 2020. The net value of these funds since January has also followed the market.

According to the data on January 25, the Hong Kong stock market "broke out" on that day. One of the funds reallocated with Hong Kong stocks, e fund's blue chip fund net value increased by 5.05%.

E fund blue chip selection is a fund with the largest number of shares held by Tencent at the end of 2020. According to its position at the end of 2020, Tencent holdings alone has brought more than HK $2.7 billion to the Fund (from January this year to January 25).

In addition to Tencent holdings, in the fourth quarter report of 2020, e fund blue chip also has a heavy position in three Hong Kong stocks, namely, meituan-w, Hong Kong Stock Exchange and Yihai international. The shares held by several Hong Kong stocks accounted for 9.59%, 9.48%, 9.4% and 3.07%, respectively.

On January 25, these Hong Kong stocks earned HK $513 million, HK $1021 million, HK $756 million and HK $81.7 million respectively for the fund on January 25, totaling HK $2.372 billion.

Data as at 25 January showed that the four Hong Kong shares had earned a total of HK $8.304 billion. Among them, meituan earned the most, 2.755 billion yuan, followed by Tencent, with 2.738 billion yuan.

In fact, in addition to e fund blue chip selection, many funds hold Tencent holdings, meituan-w and other Hong Kong stock technology stocks. Tencent Holdings has become the core variety of Hong Kong stocks of public funds.

According to the data of the fourth quarter report in 2020, Tencent holdings is a Hong Kong stock held by the largest number of public funds. A total of 332 public funds hold Tencent holdings. The total number of shares held by these funds was 132 million shares, which increased by 60.0181 million shares compared with the end of the third quarter of 2020.

If these funds have not reduced their holdings of Tencent holdings since this year, Tencent Holdings' cumulative increase of 35.9% as of January 25 will bring 332 funds a floating profit of HK $26.73 billion.

Meituan is the second largest Hong Kong technology share held by the fund.

According to the data of the fourth quarter report in 2020, there are 170 public funds holding meituan-w, including 40 fund companies. The total number of shares held by these funds was 147 million shares, which increased by 32.8962 million shares compared with the end of the third quarter of 2020.

This year, meituan has brought about a floating profit of HK $15.464 billion to the 170 mutual funds.

Hong Kong stock allocation enthusiasm ignited

In fact, since this year, many new funds have been issued to invest in Hong Kong stocks, and many fund companies are also preparing new products for Hong Kong stocks.

This is also a signal worthy of attention for Hong Kong stock investors.

According to the 21st century economic report, the leading advantage of Boshi Hong Kong stock connect will be issued on January 27. The fund mainly invests in Hong Kong stocks, and its stock assets account for 60% - 95% of the fund's assets. The proportion of investment in Hong Kong stock pass's underlying stocks is no less than 80% of the non cash fund assets.

In addition, new funds such as BOCHK stock connect's advantage growth and Yinhua's steady growth can allocate Hong Kong stocks this week.

"The direction of investment is to choose the most scarce type of company in the Hong Kong market. There are a number of large-scale Internet leading companies in Hong Kong, which have very strong long-term growth ability and sustainable growth ability. Such assets are the core assets of the Hong Kong market. Whether it is domestic or foreign capital, this asset will be an important allocation direction and proportion. " Zeng Peng, managing director of Boshi fund and director of integrated investment and research of equity investment headquarters, told 21st century economic reporter.

Zeng Peng pointed out that whether it is technology, new energy, medicine, consumption, or even traditional industries, the same companies in Hong Kong stocks will have stronger cost performance and more valuation advantages.

Professional investment institutions have pointed out that the reason why public funds have been rationing Hong Kong stocks for a long time in the past is largely due to the limited number of fund products that can allocate Hong Kong stocks. However, in recent years, with the acceleration of the issuance of domestic public funds, the number and proportion of products that can allocate Hong Kong stocks in the new funds are also increasing rapidly.

Guosheng securities estimates that 146 of the 325 newly established funds in the fourth quarter of 2020 can invest in Hong Kong stocks. Of the 94 newly established funds this year, 57 have been able to invest in Hong Kong stocks. The establishment of funds with the ability to allocate Hong Kong shares has been accelerated, which is continuously driving the capacity of public funds to allocate Hong Kong shares and accelerating the allocation of Hong Kong shares of public funds.

It is worth noting that public funds began to allocate more Hong Kong stocks in the fourth quarter of 2020. According to the calculation data, the proportion of the market value of Hong Kong stock connect in the net asset value of the fund has rapidly increased from 0.99% in the third quarter of 2020 to 1.51% in the fourth quarter of 2020.

As a matter of fact, as the market has soared recently, discussions on the valuation of Hong Kong shares have also begun to be frequent.

"The rise in the Hong Kong stock market is partly due to low valuations, but not all of them. The valuation height of individual stocks of Hong Kong stocks ultimately depends on the company's business model, industry status and fundamental trend, and is reflected as different valuation fluctuation centers in different trend channels. Therefore, the valuation of Hong Kong shares depends on the global macro-economy and liquidity, which is reflected in the valuation differentiation and fundamental drive led by institutional investors, and undervaluation is often not the only reason to buy Hong Kong stocks. " Zeng Peng said.

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