Equity funds refer to those funds that invest a considerable proportion in the stock market. For example, 60-95% of ICBC-UBS Steady Fund, which is being issued now, is invested in stocks, so it is a partial stock fund.
The classification of funds includes: stock funds: funds that mainly invest in stocks, and the proportion of stock investment in net asset value is ≥ 60%; Bond funds: funds that mainly invest in bonds, and the proportion of bond investment in net asset value is ≥ 80%; Allocated funds: funds that invest in stocks, bonds and money market instruments and do not meet the classification standards of stock funds and bond funds; Money funds that mainly invest in money market instruments: principal guaranteed fund: The fund prospectus clearly stipulates.
In recent years, investors' investment in partial stock funds has been frustrated repeatedly. In the reporter's opinion, the performance of partial stock funds fluctuates greatly. To improve the profit probability and level, we need to focus on finding three W's.
First woman: Which one?
That is, what varieties to choose for investment.
The investment and research strength and investment ability of fund companies and fund managers are very different. Especially in this year's market, different styles of partial stock funds have completely different performances. Growth style funds may yield as high as 30%, while value style funds mostly have meager profits or even losses. Investors are inevitably confused when choosing funds.
Various fund evaluation agencies will provide investors with detailed investment advice, but this is by no means a guiding light. First of all, the fund rating is based on historical performance, the future performance of the stock market is uncertain, and the sustainability of fund performance is in doubt; Secondly, changing fund managers during the rating period may also make the evaluation results meaningless, not to mention reference value.
What should we do? Building a fund portfolio may be the main way to obtain average income, and funds managed by fund managers with strong medium and long-term investment ability should be the key investment targets. At least, they have proved their ability in the past. What investors want is ability, not luck.
The second W: When?
When to buy and sell. This is probably the most important w of investment funds.
Some investors may say, "I don't have to choose the right time, but the fund manager will help me." But the fact is that the fund ranking competition is fierce, and the position game is very important. The fund manager's position will not deviate too far from his peers. In addition, most funds have the lowest positions, even if they are not optimistic about the stock market, it is impossible for fund managers to sell all the stocks.
The reporter believes that if ordinary investors can adopt an investment method similar to the inverted pyramid structure according to the fluctuation law of the stock market, the probability of success can be improved. The stock market will rise if it falls more, and fall if it rises for a long time. In a certain period of time, there will be obvious overestimation and underestimation. Investors can make full use of this law to make timing.
Many professional institutions that do high-frequency trading arbitrage adopt the strategy of buying low and selling high, and rely on the law of high probability to achieve amazing and stable returns. Ordinary investors can also do it. The key to the problem is not to go with the flow, not to be greedy or afraid, and to abide by strict investment discipline. When the stock market is significantly lower than the valuation center, gradually increase the buying efforts, when the valuation is significantly higher than the valuation center, gradually sell or even clear the position, waiting for new buying opportunities.
Third woman: Where?
That is, through what channels to buy funds.
Compared with the first two W's, the purchase channel is relatively less important, but smart investors will try their best to reduce the investment cost, and the rates between channels are quite different. Investors should try to enter the market through the cheapest channels.
At present, great changes have taken place in fund sales channels, including traditional commercial banks, brokers, fund direct sales and online transactions, as well as third-party sales and third-party payment platform transactions. For a variety of sales channels, investors should carefully compare the redemption fees of different channels, especially after the restrictions on sales rates are liberalized, investors should fully share the dividends of channel rate competition and find the channel with the lowest redemption rate. For example, the subscription fee for the same fund in a commercial bank may be 20%, but it can be as low as 40% in the online trading platform of the fund company.