First of all, you need to understand the concept that undervalued funds may not have room for growth, and overvalued funds may not be able to continue to rise. Valuation itself is a subjective concept, and even different softwares value the same fund product differently. To this end, you need to further study the CSI index and analyze your investment strategy.
Personally, I don't recommend buying the index fund of China CITIC Construction Investment Bank.
The index fund of China CITIC Construction Investment Bank mainly tracks the index of prime bank. The main positions of this fund product are various banks, including China Merchants Bank, Ping An Bank and Bank of Communications. I am not particularly optimistic about banking stocks, and the performance of banking stocks in recent years is also relatively average. Even in a bull market, bank stocks are still tepid. It is also for this reason that I am not optimistic about the index fund of CITIC Construction Investment.
Second, valuation itself is a very subjective concept.
You think the current CSI index is underestimated, but it may be within the normal range in other software. As I said above, valuation itself is a relative concept and there is no unified answer. At the same time, you can't use valuation as the only indicator of buying and selling, and valuation can't accurately predict the market outlook.
Third, you can choose small funds to enter the market.
If you want to invest a lot of money in the market, I suggest you carefully consider this kind of bank fund. If you are afraid of missing the market, you can choose small funds to enter the market and make staged fixed investment at the right point. Of course, investment is a very subjective thing. Good fund products do not necessarily make money, and relatively ordinary fund products do not necessarily lose money. You need to comprehensively analyze your investment strategy, evaluate the use of your funds, and then come to your own investment decision.