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联发彩票网怎么玩:Industry Theme Funds are mixed, investors need to be carefully identified

时间:2018/6/2 11:20:25  作者:  来源:  浏览:0  评论:0
内容摘要: Over the past year or so, the theme fund has been popular: Last year, consumer theme funds performed well. This year, the healthcare theme ...

Over the past year or so, the theme fund has been popular: Last year, consumer theme funds performed well. This year, the healthcare theme fund almost monopolized the list of equity fund performance. As of May 18, 8 medical theme funds have achieved over 30 % rate of return.

In fact, the industry theme fund focuses on "intensive farming" within a certain industry and has a clear investment orientation. In the A-share market, policies and new industrial trends have a huge impact on the capital market. This is also the theme type. Funds continue to expand the investment boundary to provide opportunities and possibilities.

fund layout

vigorously in recent years, investment targets and strategies from the product point of view, equity funds more and more sophisticated, the fund toward the theme, style fund, the fund industry's development direction. As of May 21 this year, a total of 86 fund companies have issued industry-themed funds, and the number of products exceeds 600. The total asset management scale is 498.15 billion yuan.

From the number of products alone, the number of industry-themed fund products of Penghua, Huitianfu, and Wells Fargo ranks among the top three, with 37, 32, and 32 respectively. In terms of product scale, the total size of industry theme funds of Huitianfu, E Funda, and Fuguo ranks among the top three, which are respectively 69.573 billion yuan, 65.244 billion yuan, and 52.401 billion yuan. In addition, the industry theme funds of Huitianfu, Fuguo, Penghua and ICBC Credit Suisse accounted for a relatively large proportion of non-restructuring products. Judging from the range of industry-related themes, Penghua, Castrol, Huaan, and Wells Fargo have relatively diversified fund companies, with more than 10 different industry-themed funds.

Consumers, information technology, biomedicine, manufacturing, state-owned enterprise reform, and energy resources are the main lines for the allocation of fund companies, and more than 30 fund companies have issued products. Many of these fund companies have also conducted in-depth layouts in the subdivided areas. For example, the biomedical topics under Huitianfu cover a total of 8 funds, including traditional Chinese medicine, biotechnology, precision medicine, and global medical care; Penghua’s financial theme fund covers At the time of the subdivision of securities insurance , bank , Hong Kong Bank.

This kind of wide net Xinji The effect of the golden line strategy is actually different for fund companies of different sizes: The basic product line of a large fund company is basically ready, and the theme fund needs to be developed in depth. Once a product has emerged after the event, , can expand the market through channel advantages; but because the industry theme fund is a subdivided demand, and it is easy to shrink in severe market conditions, the layout of the sales and maintenance costs are not low, large-scale development of the industry theme fund for small and medium-sized Fund companies are not easy.

While the fund company promotes subdivided products, the market itself and investors are gradually subdivided. Some investors have increased their demand for funds and their investment direction. Specific thematic funds may better meet their needs. Industry-themed funds also become "chips" for investors when investing in specific industries.

Investment risks have to prevent

Because of the risk-return characteristics of the industry theme fund itself, the investment risk is also obvious. Taking the reform of state-owned enterprises as an example, the theme was driven by factors such as institutional dividends and industrial upgrading. In addition, the continuous introduction of mixed-use programs has also become a catalyst for the continued rise of the theme. When the corresponding drivers have just begun to concentrate, the theme fund will attract a wave of investor attention, and fund companies and sales organizations will not miss the opportunity to chase hot spots. For instance, during the “two sessions” the theme of SOE reform was relatively exposed. There are more, thereby triggering the “herd effect”; and when the driving force of the theme investment becomes less, the heat of the theme will weaken. At this time, the fund company may become embarrassed, especially the products linked to the index, once related Poor concept performance, there is little room for change.

At present, the topic is hot and scattered, and the risk of bubbles has to be prevented. Since the theme investment is a forward-looking investment strategy, if the investment theme identified in the investment process is not a stable and relatively certain event, it is very likely that the final result will be contrary to expectations. Another possible problem is that the prevalence of “themes” or “trends” will cause investors to forget basic research and screening.

In addition, although the title of the industry theme fund is generally simple and straightforward, some industry concepts of fund investment are far more complicated than their names, which may well be different from the understanding of investors.

In the current market environment, the A-share market may not be able to have a large trend market, and the overall structural pattern will continue to be volatile, while industry opportunities will alternate at different stages of the market. One way to obtain excess returns is to select a fund with strong long-term performance and outstanding ability to select stocks, and the other is to strengthen the ability to grasp structural opportunities. In actual operation, investors can select industrial theme funds that can more accurately invest in the aspects of investment scope, fund benchmark, industry, and allocation of hectares in the product prospectus.


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