In recent ten years, the compound growth rate of profits of some leading liquor enterprises can reach more than 10%, and the leading stocks even reach 25%. During the ten years from 20 10 to 20 19, the share price of liquor stocks also increased with compound interest. The compound growth rate of profit is close to the compound growth rate of stock price, and it can basically achieve the compound growth rate of 10% to 20%.
investment strategy
The Fund uses the CSI Liquor Index as the underlying index, adopts the complete replication method, constructs the fund stock portfolio according to the composition and weight of the underlying index, and makes passive indexed investment.
The construction of stock portfolio mainly fits the copied target index according to its constituent stocks and their weights, and makes corresponding adjustments according to the changes of constituent stocks and their weights, so as to copy and track the target index. The investment objective of the Fund is to keep the absolute value of the daily average tracking deviation between the net income of the Fund and the performance comparison benchmark within 0.35% and the annual tracking error within 4%.
When it is expected that the constituent stocks will be adjusted, the constituent stocks will be allotted shares, issued shares and paid dividends. And the subscription and redemption of the Fund may have an impact on the effectiveness of the Fund in tracking the underlying index, resulting in the inability to effectively copy and track the underlying index. The fund manager can make appropriate modifications and adjustments to the portfolio management and strive to reduce the tracking error.