Where is the Chinese fund market blows "assembly" to over 350 billion yuan?

Original title: Where is the Chinese fund market blows "assembly" to over 350 billion yuan? (Economic Observation) What is the "assembly number" in the China Fund market? China News Agency, Beijing January 22 (Reporter Summer) entered 2021, China Fund sales Heaven.

On the 22nd, there were four new funds listing, although the final fundraising results were unknown, but the overall market was in the "snapped" state. Data show that as of January 21, this year, 76 new funds were established this year. The total fundraising scale was worth 100 million yuan (RMB, the same), which is a "high tipping period".

  On January 11th, four "daylight" (sold out of the day) piled up, January 18, Yifang’s Competitive Advantage Enterprise Fund has harvested a subscription fund of nearly 240 billion yuan. Behind the fund is crazy, it is the "low-placing ratio" that frequent frequently, as an example of the above-mentioned easy Funded competition, the upper limit is 15 billion yuan, and the final placement ratio is about%, and there are many new fund plants ratio. Less than 30%. The Chinese fund market has blown "assembly number", and people "borrow" into the market, what is the reason? "Since 2020, the fund continued to run the winning price, and the last year is 40%, the total number of stock fund yields, 59% weighted average yield, significantly higher than the 19% yield of the same period." China Aviation Fund Chief Economics The family said that many investors said that many investors have previously believe that individuals can run wins, after 2020, the fund will find that the fund will run the market, so accelerate the buying fund. The data released by the Galaxy Securities Fund Research Center shows that as of December 31, 2020, the standard stock fiscal yield is%, and the mixed biasing fund yields are%.

  Wang Xin, a Golden Associated ESG Responsible Investment Fund, said in an interview with the new agency reporter that the total growth of the rights and interest funds began rapidly from the fourth quarter of 2019, and the recent fund is formed in the fourth quarter of 2019. Sales boom. Since 2016, the entire stock market has been presented in structured opportunities.

  "Some people will ask, the explosive fund frequently appears is the signal of the top, in fact, this explosive fund has occurred under the background of residents’ savings, not because the market rose too much. In fact, we look The Shanghai Composite Index is still only around the average estimate, and the P / E ratio of the Shanghai and Shenzhen 300 is also a history average. "Yang Delong, the chief economist of Qianhai Open Source Fund, said.

  In Deng Haiqing’s view, the fund is actually an alternative to the individual investment of retail, and the investment in retail investment is a non-rational challenge, and the fund is more biased toward value investment analysis. It is advantageous for the A-share market for a long time.

Encourage institutional investors and is also an important reform direction of China’s stock market.

  Wang Xin pointed out that from a medium long-term perspective, considering the economic development potential of China in the next 5 to 10 years, especially compared with other major economies, China’s rights market still has a large development space.

"But from the past history, it is very difficult to achieve more than 20% of the income rate in the medium and long term. On the basis of the past two years, the probability of higher yields again this year is small. Overall, I hope investors Reduce this year’s income expectations to select the fund’s investment in a longer-term angle.

"Where is the money of the new fund? The Rights Fund is currently the largest" main army "of this year’s new fund. Data show that the current stock fund and mixed fund total scale reach 100 million yuan, this data is established in the monthly rights new fund The scale is already the highest value. If calculated according to 70% of the position, this will bring $ 230 billion in incremental funds. Deng Haiqing believes that the new fund investment is mainly Hong Kong stocks, the market hot plate is new energy, medical , Bank, electronics, chemical, etc.

For fund investors, it is recommended to focus on long-term, and it is expected to make money in short-term, especially to avoid "buying, buy, falling."

In addition, you can balance different funds, scattered investment risks.

  Wang Xin said that most of the new funds are currently in addition to new energy, high-end manufacturing, medical, technology, consumption, and will increase some of the company’s industries, especially those with cycle growth.

In addition, some of the low valuation and scarcity of high-quality companies in Hong Kong stocks will also get more attention. (End) (Editor: Tang Wei, Zhang Xin).