How to view the position building of new funds

2022-10-15
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How to see the position building of the new fund

China Merchants Antai series funds took the lead in announcing the investment portfolio of the second quarter. From the stocks purchased by China Merchants Antai, they participated in some popular varieties in the market in the first half of the year, such as Shanggang container, Yantian port, ZTE, Baosteel, etc. And there are three heavy stocks that UBS bought on the first day (the first order of QFII). It seems that heroes think alike, and it seems that there is nothing new. But the investment of this fund still enlightens us

the stocks of China Merchants Antai and the top four heavy positions of balanced funds are port stocks, which did not appear in all fund portfolios in the first quarter, and such concentration in one sector is also very rare in the portfolio in the first quarter. At that time, only banks and auto stocks had this "grand occasion" in the portfolio of several funds. Among port stocks, Shanggang container and Yantian Port were the leaders in the first round of market this year, while Tianjin port and Yingkou Port were later excavated. Other popular sector funds in the first half of the year have dabbled in it, but a taste of it shows that the fund avoids cyclical industry stocks that have increased too much in the early stage to a certain extent, and pays attention to growth stocks with monopoly characteristics

this gives us an enlightenment. If the market continues to be active, more industry sectors may be dug up. 2. Carbon nanotubes are dug up, and stocks with good performance are unlikely to be limited to a few major industries. Recent market trends are worth pondering, such as Shanghai airport and Baiyun Airport in airport stocks, Wantong Expressway in Expressway stocks, several leading stocks in Baijiu and beer stocks, Tongrentang in traditional Chinese medicine stocks, etc. In addition, several sectors with performance growth potential have also shown such trends recently, such as a group of stocks in the metal and non-metal sectors that did not increase much in the first round of market, Sany Heavy Industry and Changlin shares in construction machinery stocks, etc. These stocks ignore the constant trend of the overall defense rate throughout the market, and the trading volume has been steadily enlarged and rarely pulled out of the positive line, which is very similar to the initial trend of several leading sectors in the first half of the year. It can be seen that the buying is continuous, and big funds are not in a hurry to get out

in the first half of the year, automobile, engineering machinery, steel, petrochemical, banking and electric power were the most eye-catching sectors, but the first four sectors were cyclical industry stocks, which were not the best medium and long-term investment varieties because of their poor sustainability and stability. According to the rules of foreign stock markets, some non cyclical industry stocks from renewable plant (castor oil seed) stocks tend to show growth after passing the initial stage of economic growth, and the increase is larger. It is estimated that the domestic stock market will have this rule, but sooner or later

China Merchants Antai fund dares to buy Yantian port, ZTE and other stocks at a relatively high level, which also gives us another enlightenment, that is, don't use the bear market idea to cover the current market. Recently, the trend characteristics of some early strong stocks shrinking and rising at high levels have made us realize that we should take a long-term view of stocks, which is limited to the rise and fall of the market and can't make a lot of money. Some leading varieties have doubled, and the P/E ratio is only 30 times. Considering the growth of performance, we know that the current price is not overestimated at least, but at most reasonable. Assuming that some funds are based on the experiment of simply supported beam and cantilever beam to build positions from the perspective of bull market, they will not care about this increase. Therefore, since the big top of bull stocks in the early stage has not been seen, it can be said that the good play is still behind

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