"Smart money" enters the market through ETF
Choice data shows that as of June 28th, 10, the total share of equity ETFs has increased by over 48.7 billion shares since June 28th. If QDII funds are excluded, the share has also increased by over16.4 billion shares.
In the long run, since September this year, the volatility of the A-share market has increased, but funds have actively entered the market through ETFs in the market turmoil. The data shows that since September, the share of equity ETFs has increased by more than 86.4 billion.
The industry believes that ETF, as one of the investment weathervanes in the market, has always been concerned by investors. Because ETF investors are relatively mature, they often buy against the trend, which is also regarded as investors' optimism about long-term opportunities.
From the recent perspective of major fund companies, it is also generally said that they are still moderately optimistic and can find a suitable opportunity layout in fluctuations.
Facing the current A-share market, Guolian 'an Fund believes that the overall slow recovery of the economy has supported the stock market to some extent from the three main factors of profit, risk-free interest rate and risk premium. First, economic recovery supports corporate profits; Secondly, moderate easing of policies will keep the risk-free interest rate low; Finally, the market risk premium has been at a historical high, and the current market has implied more pessimistic expectations. Based on the above factors, once the uncertainty concerns have eased, the market may usher in a trend upward opportunity.
Tan Li, director of harvest fund Value Style Investment, also thinks that China's economy is resilient. With the introduction of some policies, it is more likely that the economy will bottom out, so we can be optimistic at this time. There are more and more market opportunities at present.
Some industries are favored by funds.
In addition to broad-based ETFs such as Kechuang 50ETF and SSE 50ETF, ETFs in medicine, alcohol, food and beverage, military industry and other industries also began to attract gold from June 5438+00.
It is worth noting that the pharmaceutical sector, which has undergone long-term adjustment since the middle of last year, has recently received more attention from the market, and funds have also been accelerated into the market through industry ETF funds.
The data shows that the share of E Fund CSI 300 Medical ETF has increased by more than 2.9 billion shares since June ETF 10, and the shares of Huabao CSI Medical ETF and Yingyong Zhongzheng Quanzhi Medical Device ETF have also increased by more than 654.38+02 billion shares and 654.38+00 billion shares respectively. According to the average transaction price since June 5,438+10, these three products received net capital inflows of over1300 million yuan, 600 million yuan and 700 million yuan respectively during this period.
In addition to the pharmaceutical sector, funds are also looking for other opportunities in fluctuations. Since 10, the ETF share of Penghua Liquor has also increased by 14 billion. The share of some food and beverage ETFs and real estate ETFs increased by more than 500 million, and the share of military ETFs also increased by more than 400 million.
The institutional survey in recent 1 month also coincides with the fund trend of ETF. Choice data shows that the number of institutional visits in the medical device industry exceeds 1573, ranking first in the industry. Specifically, Mindray Medical and Kaijian Medical received more than 300 institutional surveys in June, 5438+ 10. In addition, Xin Lei Neng and xing sen technology have recently been investigated by hundreds of organizations.
Looking forward to the market outlook, Zou Hui, director of stock research of Industrial Fund Research Department, is optimistic about the opportunities in four major areas. First, combined with the current macro environment and the performance of listed companies, he is optimistic about investment opportunities in resource products, including crude oil and coal; Second, in terms of high economic growth, it is mainly optimistic about sub-sectors including photovoltaic, offshore wind power, national defense and military industry, and semiconductor equipment; Third, the competition pattern of some consumer and tourism chain companies, such as cosmetics, express delivery and other industries, is gradually optimized; Fourth, in the pharmaceutical sector, due to the catalysis of medical equipment renewal loans, the concentration of some superimposed equipment is better than expected, and the medicine with extremely low valuation is worthy of attention.