First, institutional stocks continued to fall after the Spring Festival, and the downward trend has been formed.
The most injured is the fund. Public Offering of Fund is the hardest hit area, and even a new fund has been built on the top of the mountain. After 10 days, its net value has been withdrawn by nearly 20%. The fund apologizes to the public! The liquor sector is the most important part of the fund's shareholding, and the first to withdraw from the liquor sector is foreign-funded institutions, such as the American asset management giant Capital Group? European Asia-Pacific Growth Fund? At the beginning of the year, it began to reduce its holdings of Kweichow Moutai, and UBS (Luxembourg) Equity Fund also reduced its holdings of Kweichow Moutai in 1 month. At the same time, CITIC Securities shouted out the target price of 3,000 yuan/share of Kweichow Moutai in February 10. Today, Kweichow Moutai is likely to fall below the integer mark of 2000 yuan, which has to be said to be ironic!
Second, because the downward trend of the fund has been formed.
Judging from the technical trend, it is not a habitual trend of falling first and then rising, but a trend downward trend, which will digest the huge rise in the early stage for a long time. If you still hold funds mainly organized by institutions, there is a high probability that you will expand your losses! Every time it rebounds, lightening the position may be a more appropriate operation. At present, institutional shareholding shows a rhythmic downward trend, and the decline is larger than the previous day. On the whole, the center of gravity is steadily moving down, which is the trend of polar bears after mad cows.
Third, in the context of the upcoming full registration system, banks are the main blue-chip varieties with low valuation.
Steel, electricity, nonferrous metals and other weights have the opportunity to take over the market of institutional shareholding, and the market index will gradually stabilize in the later period!
In terms of time, the Fund emphasizes long-term investment and value investment. Because it can be seen from history that many excellent fund managers and the net value of the funds they are responsible for are not smooth sailing, but the overall ups and downs, one after another. Therefore, I think that the phased decline or even plunge may have little impact on the long-term trend.