From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. The fund we are talking about mainly refers to the securities investment fund. Bian Xiao has compiled how to choose a good theme base here for your reference. I hope everyone will gain something in the reading process!

What is an industry theme fund?

As the name implies, industry theme funds are funds that focus on investing in a certain industry, a certain region, a certain strategy or a certain theme.

1, with highly concentrated positions.

We often say that eggs can't be put in the same basket, but industry theme funds emphasize the choice of a basket for centralized investment.

We can look at the industry concentration from previous quarterly reports and judge whether the fund is an industry theme fund by holding details.

Taking two funds as an example, it is not difficult to find that although they are both hybrid funds, the allocation of fund A is relatively scattered, while the allocation of fund B is highly concentrated. In addition, the science and technology field of Fund B has good growth, but it also fluctuates greatly, so it is not suitable for investors with weak risk tolerance and cannot "chase up and kill down".

2. The fund has great income elasticity.

High concentration is both an advantage and a risk. The trend of fund net value depends largely on the fluctuation of an industry. When the industry is booming, the fund will rise, and when the industry is declining, the fund will fall.

If the industry benefits, the corresponding industry theme fund may achieve higher excess returns in a short time. When the wind blows, or the industry encounters a black swan, it will also have a great impact on the performance of the fund.

Judging from the annualized volatility of Shenwan first-class industry index in recent three years, the annualized volatility of 18 industry indexes is higher than that of large and medium-sized indexes in the same period.

How to choose theme funds?

1, select the right track.

The premise of investing in industry theme funds is that you have a certain understanding and research on this kind of industry, or you are optimistic about the medium and long-term prospects of this industry, not just attracted by the short-term market rise, otherwise it is difficult to grasp the trading opportunity and it is easy to chase after the rise.

A good investment theme should have reasonable investment logic, long-term growth and solid performance support. When choosing a track, consider: Is there a big market space for this industry in the future? Are companies in the industry capable of making money?

2. Choose the right investment strategy

The configuration strategy of core+satellite is a good method.

Core products can usually choose high-quality active management funds or broad-based index funds with stable long-term performance;

Satellite products can be combined with different market environments, and small positions can be equipped with promising industry theme funds, which will impact higher returns. Bian Xiao suggested that the allocation ratio of a single industry should not exceed 15-20%, and the allocation ratio of all industries should not exceed 50% as far as possible.

3. Choose the right investment tools

Performance is the first thing everyone will look at when buying a fund, but we choose the basis and the past performance can be referenced. We can't believe it all. Don't be confused by short-term performance. It is probably an element of luck, which is unsustainable. Long-term performance has certain reference value.

In addition, turnover rate and retracement are also important. Funds with high turnover rate are not necessarily poor funds, but short-term transactions are frequent, and funds that chase up and kill down must have high turnover rate.

If you don't pay attention to the fund manager who controls the withdrawal, it is easy to get stuck when buying. It should be noted that the industry theme fund itself fluctuates greatly, and it is normal to withdraw about 20% at the highest, but be careful beyond this range.

In the past two years, the returns of funds purchased by many investors are generally unsatisfactory. What caused the large losses of most funds? Mars, an analyst at Shanghai Securities Fund Evaluation Center, pointed out that, first of all, the essence of fund products is the combination of securities, and the performance of fund income is closely related to the performance of the underlying market. In the continuous decline of the stock market, it is difficult for equity funds and hybrid funds, which mainly invest in stocks, to achieve positive returns. In the case of rising stock market, most partial stock funds can often achieve positive returns. Therefore, it is impossible for funds to create myths and create high positive returns in the continuous decline of the market in recent years.

From the long-term performance, in most cases, the overall performance of funds is better than that of individual investors, especially in bull markets and volatile markets. For example, in 2006 and 2007, more than 80% of equity funds achieved a return of more than 100%, while the proportion of individual investors was less than 20 12 years. Nearly 50% of equity funds have achieved a return of 5% to 30%. According to the survey, more than 50% of individual investors have lost between 5% and 50%. Therefore, the fund is still a good investment tool for individual investors to participate in the capital market.

All kinds of problems, whether China's stock market construction, economic development or asset management industry, can't be eliminated in a short time, and all need the rationality of the market as a whole to promote it. However, as investors themselves, we must measure our risk tolerance clearly and not blindly listen to the propaganda of sales staff. If your risk tolerance is weak, or the funds you want to use in the short term, you can't invest too much in a single stock fund to avoid being greatly affected by the risk of stock market fluctuations. Therefore, for individual investors, it is more meaningful to have a long-term investment mentality, choose appropriate fund products according to their own risk tolerance and renewal, avoid excessive pursuit of popular funds with outstanding short-term returns, pay more attention to funds with relatively stable long-term performance, and spread risks through fixed investment and portfolio allocation to obtain long-term stable returns.

Tip:

First, we should pay attention to arranging the proportion of fund varieties according to our own risk tolerance and investment purpose. Choose the fund that suits you best, and set an investment ceiling when buying partial stock funds.

Second, be careful not to buy the wrong "fund". The popularity of funds has led to some fake and shoddy products "fishing in troubled waters", so we should pay attention to identification.

Third, pay attention to the post-maintenance of your account. Although the fund is worry-free, it should not be left unattended. Always pay attention to the new announcements on the fund website, so as to have a more comprehensive and timely understanding of the funds you hold.

Fourth, pay attention to buying funds, and don't care too much about the net value of funds. In fact, the fund's income is only related to the net growth rate. As long as the fund's net growth rate stays ahead, the income will naturally be high.

Fifth, we should be careful not to "love the new and hate the old" or blindly pursue new funds. Although the new fund has inherent advantages such as preferential prices, the old fund has long-term operating experience and reasonable positions, which is more worthy of attention and investment.

Sixth, we should be careful not to buy dividend funds unilaterally. Fund dividend is the return of investors' previous income, so it is more reasonable to change the dividend method to "dividend reinvestment" as far as possible.

Seventh, we should pay attention not to talk about heroes in the short term. It is obviously unscientific to judge the pros and cons of the fund by short-term ups and downs, and it is necessary to make a comprehensive evaluation of the fund in many aspects and conduct a long-term investigation.

Eighth, we should pay attention to the flexible choice of investment strategies such as steady and worry-free fixed investment and affordable and simple dividend transfer.

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