Niuji Yi Funda Small and Medium Cap (110011) recently announced that starting from February 24, 2021, in order to ensure the smooth operation of the fund and protect the interests of holders, subscriptions and transfers will be suspended.

The fund is helmed by Zhang Kun, the first brother in public fundraising. He has been at the helm since September 28, 2012, and has been in office for a total of 8 years and 150 days as of February 23, 2021, creating a performance of 783.49% and an annualized return of 29.5%.

, ranking in the top 1%, with a maximum retracement of 30.66% during the period, which made it famous.

Zhang Kun is a deep value investor and was once rated as the country’s Buffett.

The best illustration of this point is that it started to hold a heavy position in Moutai in the second quarter of 2013 and has held it for 8 years. So far, Moutai has ranked as the fund's largest holding. At the same time, the top four among the top 10 holdings are all liquor!

Although Zhang Kun is now famous all over the world, before 2016, due to market style reasons, he had not been prominent and had been on the bench for many years.

However, after the surge in liquor sales in 2016, E Fund's ranking in the small and mid-cap market rose rapidly, embarking on the road to becoming a god.

As of the end of 2021, the size of E Fund's small and mid-cap funds has climbed to 40.1 billion yuan, ranking among the top active funds.

In fact, as early as the beginning of the year, you can buy good stocks and choose good funds!

I would like to recommend another bull fund to help everyone go through the bull and bear market. I recommended Zhang Kun's fund. The increase was still average. Even though the liquor has already risen a lot, I still recommend buying Zhang Kun's fund.

It took about a month or two after last year's recommendation and started to embark on the road of doubling.

The blue-chip company E Fund is in charge of has also experienced a sharp increase in its share in the past year or two.

The friends who follow it will basically make a lot of money, and they can ignore it no matter how large the adjustment is in the near future.

Recently, the consumption of liquor has plummeted, and many people have begun to question liquor, and even once pushed the former male idol Zhang Kun off the altar.

In fact, don’t pay too much attention to the grouping thing. Public funds are not overweighting Moutai.

From the perspective of trading structure, there are too many believing funds in Moutai, resulting in no selling orders when the price falls, so the funds rise as soon as they are bought.

As for grouping, as long as the prosperity continues, grouping is inevitable.

Just like the current prosperity of high-end liquor, as long as the prosperity is maintained, it will not fall much.

As for what valuation level to deploy, it depends on everyone’s expected rate of return.

Now that small and medium-sized caps have restricted subscriptions, it seems that E Fund Blue Chip Select is not far away from restricting subscriptions. Previously, it had been limited to large purchases to 5,000 on the same day, and now the purchase limit has reached 2,000.

If you redeem it now, there will be no chance to buy again. If it is a fixed investment, you can continue to invest if the amount is not large. If you want to buy it all at once, you can consider the same company's Xiao Nan's Yifangda Ruiheng Flexible Configuration Mix (001832)

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Today, under several major bad news, Baotuan stocks continued to plummet, with the liquor sector leading the decline.

In the offshore market, the Financial Secretary of Hong Kong stated that he planned to increase the stamp duty on stock transactions from 0.1% to 0.13%; in the overseas market, the rise in long-term interest rates in the United States coupled with rising inflation expectations caused a sharp drop at the opening, and later the Fed Chairman gave a dovish speech.

It later picked up.

It is really not easy for ordinary investors. The domestic investment environment is already complex enough, but now even news from overseas markets will cause impact from time to time. Core assets including Moutai have continued to plummet, which poses a great test to investors' faith.

The bad news may eventually be verified to have an adverse impact on investment logic, or it may be just news. However, under the already pessimistic market expectations, funds have begun to vote with their feet, whether it is group stocks with a valuation of nearly a hundred times, or valuations of nearly 100 times.

For 10-fold cyclical stocks, we will reduce the price first and then talk about it.

Regarding the above-mentioned negative factors, the increase in stamp duty and the rise in U.S. interest rates are not decisive factors. Investment ultimately depends on logic and fundamentals. It will not be said that the increase in stamp duty by three ten thousandths will destroy the logic of allocating Hong Kong stocks. In fact, the most lethal factor is

The risk is still the negative feedback from public funds that has been mentioned, but it also brings investment opportunities in white horse stocks.

The market situation of 2020 is no longer the same. The era of institutionalized investment and stratified research has arrived, allowing professional people to do professional things.

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