The investment goal of Xincheng Sijihong Fund is to select investment targets on the basis of effective asset allocation and pursue long-term stable growth of fund assets on the basis of stable dividends. Judging from the proportion of investment objects, Xincheng Sijihong belongs to a hybrid fund. As a hybrid fund, the middle line of the fund's asset allocation (62.5% in stocks and 32.5% in bonds) has established the medium risk position of the fund among various funds.
Prudential Four Seasons Red Fund agrees to pay dividends every quarter. If the net value of fund shares exceeds 65,438+0.00 yuan on the dividend settlement date, the fund will distribute the income, and at least 25% of the net value of fund shares exceeds 65,438+0.00 yuan, but the realized income is the upper limit. If the realized income of the Fund is less than 25% of the net fund share of 65,438+0.00 yuan, the Fund will fully distribute the realized income (the minimum allocation unit for each fund share is 0.65,438+0 point) on the premise of complying with laws and regulations. The fund's unique dividend mechanism, although in a sense, reduces the efficiency and income of fund assets reinvestment, is more in line with the fund's medium-risk positioning, and also increases investors' sense of security for the product.
A steady style
The investment philosophy of Xincheng Fund is active investment based on research, taking valuation as the criterion, focusing on team wisdom and team decision-making, paying attention to risk control, observing investment discipline and pursuing excess returns after risk adjustment. The investment behavior of the fund will emphasize the possibility of fund dividends on the basis of the company's investment philosophy. Whether it is the pursuit of risk-adjusted income or the emphasis on dividends, fund managers attach importance to risk control.
Regarding the possibility of realizing the above dividend mechanism, Prudential Fund believes that, on the one hand, under the background of sustained and high-speed economic growth in China, a number of industries and enterprises are bound to grow at a high speed. On the other hand, listed companies in the domestic A-share market also pay more attention to dividends under the premise of generally improving profitability. Therefore, it is reasonable for this fund to take both enterprise growth and dividend-paying ability as the investment basis, which is more in line with the development status of the domestic stock market.
New company, new fund
Prudential Fund is a new face of the fund industry, and Prudential Four Seasons Red Fund is the first fund product issued by the company in China. Because there is no past performance to refer to, investors are often very cautious about such products. This mentality is normal, but investors need to be reminded that the risks and opportunities brought to investors by new funds issued by new companies often exist at the same time, so we should judge them dialectically.
First of all, from the perspective of fund company shareholders. CITIC Trust, the major Chinese shareholder of Xincheng Fund, has been operating in China for many years and is familiar with the operation of the domestic capital market. The main foreign shareholder is Prudential Group, an internationally renowned asset management institution. We believe that shareholders with such a strong background will provide strong support for the operation of the company's funds.
Secondly, there are many factors that affect the performance of the fund. In addition to the qualifications of fund managers, the timing of fund establishment and market entry is also very important. The last bottom of the market appeared between early June 2005165438+1early October and early February 65438+. It is observed that the new funds established during this period, such as China Merchants Growth, Huabao Power, CITIC Bonus, Guo Fu Tianhui (Internet Forum), have generally increased by more than 20%. The new funds established at the peak of the market, such as Jutian Foundation (Net Information Value Forum) and Harvest Service (Net Information Value Forum) established in March-April, 2004, have brought long-term painful experiences to investors.
Judging from the fund products themselves and the opportunities to enter the market, we expect that the opportunities of Xincheng Four Seasons Red Fund will outweigh the risks. First, Prudential Four Seasons Red is a hybrid fund that pays equal attention to stock investment and bond investment. The operation style of the fund will be more flexible, and there is a lot of room for adjustment according to the changes in the two basic markets. Compared with pure equity funds, the risk level of Xincheng Sijihong is lower. Second, and more importantly, now is a good time for funds to enter the market. As the market has risen by 30%, market participants expect that there may be an adjustment in the short term. At the same time, domestic mainstream investment and research institutions are still optimistic about the market trend during the year. With the completion of share reform and the opening of refinancing, the domestic stock market will have a major turning point and face new development opportunities. The time span from the issuance to the establishment of Xincheng Four Seasons Red Fund may enable it to avoid the risk of market adjustment and open a position at the relative bottom. So in general, investors will face more opportunities than risks.