"Sunlight-based" reappears in the market, and the issuance of equity funds picks up!
since p>223, the market has picked up, with more than 16 Public Offering of Fund and more than 1, private equity funds issued intensively, with explosions reappearing in rivers and lakes, and "Sunlight Foundation" sold out in one day frequently appears. The following small series brings "daylight-based" reappearance, and the issuance of market equity funds is picking up. I hope you like it.
explosions occur frequently
with the recovery of the market, the long-lost "daylight-based" fund issuance market has begun to reappear.
Among them, the most concerned thing this year is that the Zhonggeng Hong Kong Stock Connect, which was issued on January 9th, was closed for 18 months. This product was managed by Qiu Dongrong, a star fund manager. The original fundraising period was from January 9 to 13, and the maximum fundraising scale was 2 billion yuan. The fund was sold out in one day, and it took only one day to end the collection, becoming the first explosion "daylight base" in 223.
On February 8th, Quanguo Xuyuan, a three-year holding product managed by Zhao Yi, a star fund manager, was mixed and opened for subscription. After only one day of opening, Quanguo Fund issued the Announcement on Suspension of Subscription Business, and the subscription has been suspended since February 9.
according to sources, Quanguo Xuyuan has a three-year limit of 3 billion yuan. However, the final omni-channel sales of this issue may exceed 7 billion yuan, of which only China Merchants Bank sold about 6 billion yuan. This is relatively rare for products with a three-year holding period.
It is worth mentioning that on the day when Quanguo Xuyuan held the open subscription for three years, the fund suspended the large subscription and limited the purchase by 5, yuan per day, which means that a large number of investors participated in the subscription.
Another kind of fund, stock ETF, is also very popular. Among them, the Cathay Pacific CSI 1 Enhanced Strategy ETF announced on February 6th that it would end the fundraising ahead of schedule and become a "daylight fund", with a fundraising amount of 1.458 billion yuan. The similar Boss CSI 5 enhanced strategy ETF also ended the fundraising in advance after only two days of fundraising.
in addition, this year, there are two medium-and long-term pure debt funds-Hua 'an Dingying and Guotai Junan Anping, which are set to open for one year and close for one day, respectively, with an issuance amount of 5 billion yuan and 8 million yuan. They were originally set to raise for one month and one week, respectively, and both closed for raising ahead of schedule.
meanwhile, REITs funds continue to be popular in the market.
on January 5th, Harvest JD.COM warehousing logistics REIT was the first privately-owned warehousing logistics public offering REIT in the market. Harvest JD.COM storage infrastructure REIT plans to raise a total of 1.757 billion yuan, and the total subscription amount of strategic investors, offline investors and public investors is 71.816 billion yuan. The subscription amount of offline investors exceeds 126 times, and the share of public offering is 5 million. After one day of raising, the proportion of placing is as low as .46%.
According to incomplete statistics, up to now, more than 4 funds have announced the early termination of the fundraising period this year.
At the same time of frequent public offering explosions, the issuance of private equity funds has also seen a "turning point" of recovery.
for example, from February 6 to February 17, Ningquan Xingyi series, a trust product with Ningquan Assets as investment consultant under the helm of Yang Dong, was sold in Industrial Bank, with a cumulative sales scale of about 3.37 billion yuan in two weeks, far exceeding the original fundraising target of 2 billion yuan.
Recently, the investment threshold of products for which Qiaoshui China is the investment consultant is 2 million yuan, and there is a "second kill" in the channel, and the total fundraising scale exceeds 1 billion yuan.
In addition, the private equity products of star private equity fund managers such as Dong Chengfei of Ruijun Assets and Yu Haifeng of Shenzhi Assets will also be sold, attracting investors' attention.
according to the master data of private placement network combination, as of February 15th, there were 3,197 private placement securities funds filed in 223, an increase of 3.2% compared with 3,98 in the same period last year.
Equity fund issuance is picking up
According to the reporter, since 223, major fund companies have issued a lot of new products, among which the proportion of equity funds and the amount of funds raised have increased.
according to Wind's data, as of February 22nd, 165 Public Offering of Fund have been successfully issued since 223 (only counting initial funds), including 62 hybrid funds (including 48 hybrid funds with partial stocks and 14 hybrid funds with partial debts), 49 bond funds and hybrid funds with partial debts, 27 stock funds, 15 FOF funds, etc.
the total fund issuance shares totaled 76.257 billion, with an average issuance share of 1.362 billion.
It is worth mentioning that the proportion of equity fund issuance has increased recently.
the typical reaction of the recovery of the issuance market is the recovery of the issuance of equity funds. In the last three months since December, 222, the issuance share of equity funds accounted for more than 15% of new funds, which was 2.58% in December, 15.86% in January, and 22.4% in February, 223.
In contrast, the share of equity funds issued in each month of 222 often accounts for single digits, and half of them account for less than 6%, with the lowest in February and October of 222 being 2.29% and 3.3% respectively.
Private equity funds also have a rebound in the issuance of equity funds.
according to the data of private placement network, among the 3,197 private placement securities products established since 223, there are 1,881 stock strategies, accounting for 58.8%. Followed by multi-asset strategy and futures and derivatives strategy, the number of filings this year was 458 and 338 respectively. However, there are relatively few portfolio funds and bond funds.
In fact, behind the increase in the issuance scale of equity funds in the past three months, it is the support of the recovery of the stock market.
since November 222, the stock market has rebounded significantly. In the nearly three months from the beginning of November 222 to the end of January 223, the Nasdaq China Jinlong Index (note: the main component is China Stock Exchange) rebounded by 7.22%; The Hang Seng Technology Index of Hong Kong stocks rose by 59.25%, and the Hang Seng Index also rose by 48.72%.
The major indexes of A shares also rose by more than 1%. Among them, the Shanghai Composite Index rose 12.52%, the Shenzhen Component Index rose 15.43%, the Growth Enterprise Market Index rose 13.94%, and the Shanghai and Shenzhen 3 Index rose 18.47%.
A number of fund sources told 21st century business herald that the company will increase the issuance of equity funds this year.
A medium-sized fund company in Shenzhen said, "Our new fund issuance this year focuses on active equity funds, mainly all-market funds, and it is planned to issue more funds than last year."
a large fund company said that the focus of the company's issuance this year is on ETF funds, which will help to expand the scale of fund management, and this year is also better than last year's issuance.
In addition, some fund companies are paying attention to the issuance of quantitative funds and pension funds.
However, some people from large fund companies admit that there is no clear focus on the issuance. At present, the annual new development schedule is only relatively clear in the first quarter, and it is comprehensively arranged and has all categories.
analysts pointed out that investors' willingness to subscribe for equity funds has gradually increased recently, and the funds are returning to the equity market. The reason behind this is that the stock market has warmed up and investors' investment sentiment has improved. Recently, investors still give priority to star fund managers with excellent historical performance.
Injured explosions
When the explosion fund reappears, the damage caused by the tens of billions of explosions and star-making feasts in 219 and 22 is still unforgettable.
after the tide receded, what happened to the explosion fund? Who learned the lesson?
According to the data of Tianxiang Investment Fund Evaluation Center, there are 36 mixed-stock funds with an initial scale of over 1 billion from 219 to 221, with an average decline of 22.34% in 222.
The same is true for funds managed by star funds. Take Zhang Kun as an example, where white horse stocks are heavily consumed. According to public data, the four funds he managed achieved 5%-85% dazzling performance in 219 and 22, and the fund scale rose rapidly. Its masterpiece, E Fund Blue Chip Selection, has a current scale of 57.1 billion yuan, with a decline of 37.89% in the first 1 months of last year. However, since November last year, it has rebounded by 39.39% as of February 22, and the decline has still reached 13.42% since January last year.
Explosive funds and star funds have made a lot of people who are enthusiastic and eager to enter have a bad experience. Although the management scale of fund companies has increased rapidly in a short period of time, the decline in the satisfaction of the people has adversely affected the subsequent business development.
is "explosive fund" a star effect or a marketing strategy?
the industry has also begun to reflect on this issue.
A fund company told reporters that the company has reflected on the issue of new funds. "We asked not to issue funds at the high point of the market. On the contrary, the company issued a lot of products at the low point last year, and issued new funds in the form of sponsored funds. The scale of issuance is relatively small. I hope to do a good job in fund performance first and then do it on a large scale."
A person from another fund company said that the regulator had noticed the prevalence of fund issuance at the high point of the fund company. "The number of new issues this year will definitely drop compared with the past, and we want to spend more resources on holding the camp".
In this regard, Yang Delong, chief economist of Qianhai Open Source Fund, judged that the fund issuance market will pick up this year, and the issuance of new funds will increase by a large margin year-on-year, mainly because active equity funds are more popular. After the full implementation of the registration system, value investment has become the most mainstream investment concept, so funds that insist on value investment will be more popular in the market, such as white horse stocks with excellent investment performance.
catching stocks with continuous daily limit
In the mid-line stock picking skills, if you want to make a medium-long layout, it depends on the current market situation. You can refer to the annual line (25 antennas) and semi-annual line (12 antennas) of the market index. If the trend is above the annual line and semi-annual line, it means that it is not a bear market at present. In the face of national policies, in the case of a comprehensive decline in the stock market, investors should not be lucky enough to grab a rebound or choose to buy people, but should take advantage of the trend to wait and see for clearance. If the stock market rises sharply, it is necessary to take advantage of the trend and hold shares in the medium term.
Mid-line stock selection should be comprehensively analyzed from six aspects: K-line shape, technical indicators, relative price, company fundamentals, market trend and stock theme. We should give up some stocks with high P/E ratio and prices far higher than their intrinsic values.
as for how to catch stocks with continuous daily limit? The initial share price rose by more than 6%; Must be "heavy"; The greater the increase, the stronger the trend and the more favorable it will be. Among the key conditions of daily limit, the opening price is between 2 and 3 points higher, and the opening price is no more than 2 points lower. The decline process cannot be heavy, and the heavy volume is suspected of shipping; The closing price is near yesterday's closing price, and it is best not to form a gap.