What does the fund holding mean?
Fund shareholding refers to the phenomenon that multiple funds hold a certain stock or a certain type of stock, which is formed actively or passively. Phenomenologically, it belongs to the enhanced version of theme stocks. Since Public Offering of Fund's position is public, investors can easily find these stocks.
What are the reasons for the emergence of funds holding stocks?
Fund managers are most concerned about the safety of funds and the improvement of net worth. In order to avoid major investment mistakes, institutions will conduct research on listed companies with investment value, and some listed companies will even conduct step-by-step research, which is well known in the industry, so that * * * knowledge has been formed before investment, so it is logical for fund managers to buy similar stocks.
Especially when the economy is in the downward stage, large funds tend to be "certainty" rather than "growth", and choose investment targets with high performance certainty to obtain relatively stable returns. If the centralized allocation of these plates continues to rise and the structural market continues to ferment, then a typical "holding the group to warm up" market will be formed. For example, the consumer market after 20 16 and the liquor market in 2020.
When the development of such companies is lower than expected, the valuation quality is broken, or the stock price is too high, and the funds take profits; Or there are other new hot spots, and if the existing funds are diverted, the group will collapse.