Fund type: mixed balance, medium and high risk; Fund scale: 65.438+46.8 million yuan (2021-09-30); Fund Manager: Sun Dan; Date of establishment: September 2006-13; Manager: Dacheng Fund.
The Fund emphasizes the reasonable optimization of risk-return ratio in portfolio construction, combines disciplines with science, establishes a more comprehensive evaluation system of investment value of assets and single bonds, and continuously optimizes portfolio allocation. The fund's investment strategy is divided into two levels: the first level is the asset allocation strategy, that is, the allocation ratio between equity securities, fixed income securities and money market instruments; The second level is investment equity securities and fixed income securities.
1. Asset allocation strategy
(1) With the passage of time, from the overall trend, the proportion of the Fund's investment in equity securities continues to decrease, while the proportion of investment in fixed income or money market instruments continues to increase, making the asset allocation of the entire fund portfolio relatively more stable, shifting from pursuing capital appreciation to pursuing current income.
(2) In the early stage, the Fund was similar to stock-based or partial-stock-based funds, and obtained a higher return on capital investment with a relatively high risk-return level and a relatively aggressive investment method. Later, it gradually evolved into a low-risk bond fund, with relatively low risk-return level, stable investment mode and stable current income. This evolution is gradual, in order to meet the requirements of investors to gradually reduce their risk appetite with the increase of age or the decrease of remaining period.
2. Stock and securities investment strategy
(1) The allocation of tactical varieties and strategic varieties funds should not only hold tactical varieties to ensure realistic demand, but also hold strategic varieties to ensure future development. Tactical varieties are often popular varieties that have been highly recognized by the market and a large amount of funds have poured in. Generally speaking, they can generate good returns in the short term. Strategic varieties are often forgotten by the market, leading to the wrong pricing of unpopular varieties, which are usually small in the short term, but often produce high returns in the long term. The Fund will allocate both tactical varieties that can generate immediate income and strategic varieties that can generate long-term income in the fund portfolio to ensure the short-term income and long-term income of the Fund.
(2) Highlighting the excess returns of key industries and key stocks comes from the judgment of market timing and the grasp of industries and stocks. The fund will pay attention to the impact of macro factors on industries and enterprises; Through the combination of qualitative and quantitative methods, we can make a more accurate judgment on the future expectation of the industry, comprehensively analyze the future profitability and growth of stocks, find out the value of the industry and the future growth potential, and tap the stocks whose value is undervalued by the market. The Fund will focus on investing in listed companies with sustained and steady growth in performance, monopoly position in the industry, industry characteristics in line with the world economic development and China economic development trend, good cash flow, low debt ratio, rapid growth in expected sales revenue and net profit, and high return on net assets.