With the expansion of market structure differences, the Shanghai and Shenzhen 300 Index began to show the valuation advantages of heavyweights. The global fund manager of Societe Generale recently pointed out to reporters that there are 300 constituent stocks in Shanghai and Shenzhen stock markets. What are the two main discount differences? Add a few advantages. In the second half of the year, the investment prospects of Shanghai and Shenzhen 300 index funds are promising. The difference between the two major discounts refers to the relative discount of H shares and the relative discount of small and medium-sized board. Take China Merchants Bank as an example. It is the first heavyweight bank in Shanghai and Hong Kong, with a premium of over 30% for H shares. China Ping An, Bank of Communications, China Construction Bank, Agricultural Bank and Industrial and Commercial Bank all have H-share premiums exceeding 20%.

The price-earnings ratio of small and medium-sized board and Shanghai and Shenzhen 300 constituent stocks rose to 3. 10, and the price-earnings ratio of GEM index and Shanghai and Shenzhen 300 index reached 4.6 1. The risk of overvaluation of small and medium-sized board stocks has not been fully released. The Shanghai and Shenzhen 300 Index once again shows its own value and the potential of index funds in the second half of this year. In the turbulent market, investors can choose new index funds, such as Xingye CSI 300. In addition, the fund also has certain enhancement strategies.

It is reported that on the 20th, Xingye CSI 300 Index Enhancement Fund was the first stock index product in the world. Under the premise of strictly controlling and reducing the tracking error, the Fund will optimize and adjust the weight of index components through fundamental analysis, and supplement them through fundamental strengthening, quantitative strengthening strategy and auxiliary strengthening. In order to achieve the purpose of improving the return on investment. Relevant persons of Xingye Global Fund said that the reason why the company increased its holdings of index funds is that it hopes to continue to give full play to Xingye Global's advantages in active investment while investing in value index funds for a long time, so as to obtain more stable returns for holders.

In the rebound since 20021,index funds also followed closely? Wind? . Among the Shanghai and Shenzhen 300 index bases, the best performance is to upgrade products. In fact, the recent good performance of index funds has aroused the strong concern of institutional investors. From the institutional point of view, the Shanghai Composite Index fell by more than 20% in the second quarter of this year, while the equity investment of insurance funds and funds increased by 225.5 billion yuan, of which the Shanghai and Shenzhen 300 Index funds accounted for a large proportion. As early as May 17, 2007, when the Shanghai Composite Index fell by more than 5%, China Life invested more than1500 million yuan in the CSI 300 Index Fund. Coincidentally, the quarterly reports of large fund companies also show that seven new funds were bought in the second quarter, of which three were index funds, all of which were Shanghai and Shenzhen 300.