In the year-end assessment quarter, most fund managers tend to restrain the overall risk appetite and lock in the annual income. Many people are also beginning to struggle. At the end of the year, should we continue to raise the base or leave the bag for a fat year? Bian Xiao sorted out how to deal with funds at the end of this year for your reference. I hope everyone will gain something in the reading process!

Are you optimistic about the medium and long-term market?

After hitting an annual high, the major stock indexes fluctuated at a high level recently. For the "year-end battle" in the A-share market in 2020, many Taurus private placements believe that A-shares at the end of the year can still be active. The pro-cyclical investment direction brought about by the unexpected economic recovery and the excellent growth companies fully adjusted in the early stage are still worth digging deep into the layout.

Jingling Investment believes that both China and the global economy are expected to continue to improve month-on-month from the perspective of the end of the year and the time dimension of the next year, and the market focus will shift from valuation improvement to continuous performance improvement. Therefore, the structural well-off cattle with healthy upgrading, consumption upgrading, business and product innovation will continue.

He Ju Investment believes that the current pro-cyclical market is in the middle, and A shares are expected to usher in the dual drive of cyclical growth at the end of the year. At the end of the year, He Ju's investment will be properly balanced, and we will be optimistic about the opportunities of science and technology and growth sectors at the beginning of next year, especially the strategic emerging industries such as new ventures, military industry, media, electronics and communications, which are in line with policy guidance and already have certain valuation advantages.

If investors are still optimistic about the market next year or even longer, it is recommended to continue to hold it and downplay the short-term market ups and downs.

Do you believe in the investment ability of fund managers?

Market trend is only one factor that affects the rise and fall of net worth, and another important factor is the investment ability of fund managers. Excellent fund managers can continue to create better returns in the medium and long term.

The rise and fall of stocks mainly depends on fundamentals and valuation. If the stock price continues to rise and the valuation becomes higher, when it exceeds the reasonable range, the probability of stock price correction will increase. At this time, "take profit" is logical. The fund is a combination of stocks and bonds. Excellent fund managers can buy undervalued high-quality varieties by changing positions and constantly "spit out the old and take in the new", thus maintaining a long-term stable and upward net worth.

Therefore, the investment ability of the fund manager has a great influence on the fund. If you are optimistic about a fund manager and his investment cycle is long, you might as well choose to hold it for a long time and let the fund manager help you.

Your own investment ideas and goals.

Before holding stock funds, ordinary citizens must think clearly whether it is short-term investment or long-term investment. If you just want to earn some pocket money, or the funds will run out in a short time, you can "settle down" after reaching a certain income target.

Therefore, I suggest that you try your best to manage your finances with funds that you don't need urgently, so that you can make medium and long-term investments with a steady mind. This is because compound interest is the biggest "miracle" of investment. After Buffett was 56 years old, 98.8% of his wealth was earned by compound interest!

Therefore, citizens can set aside some money for long-term investment, hold funds with good performance in the medium and long term, and earn long-term compound interest. In the long run, high-quality Public Offering of Fund has a high probability of sustained profit, which reduces the trial and error cost of the citizens. If you have been trading different funds, it is easy to make mistakes. If you choose a fund with poor performance, you will not only lose the rate of return, but also pay the cost of subscription and redemption, which is not cost-effective.

Specific operational suggestions:

1. The profitable foundation takes profits in time.

It is suggested that citizens should fully consider their risk tolerance and risk-return preference. If the return rate of the funds they hold this year has reached or exceeded the expected return, don't be greedy. After all, their pockets are all their own. Reduce the position appropriately and wait for the opportunity next year.

2. Redeem some equity funds.

The biggest risk is equity funds, so when the market is bad, equity funds fall the most, which can make some equity funds in the portfolio fall into the bag first.

3, converted into money funds or bond funds.

Market volatility increased at the end of the year, and decentralized allocation was particularly important. Investors can convert high-risk stocks into low-risk money funds or bond funds. We can use the super conversion function to realize it, which can save the handling fee and make the operation more convenient.

4. Look for sectors with strong money-making effects.

Recently, many institutions have issued the investment strategy of 202 1, and many people think that 202 1 China's economy will further get rid of the impact of the epidemic. It is predicted that the annual real GDP will return to the pre-epidemic level year-on-year, the impact of liquidity on the market will gradually weaken, the importance of fundamentals will be further enhanced, and the relatively high valuation is expected to be diluted by the profit growth rate. Therefore, the market is likely to have structural opportunities, but it hopes to replicate 2008. At present, China's economy has entered the stage of structural transformation, and consumption and science and technology are playing a role in stimulating economic growth. Related industrial chains and sub-sectors deserve special attention.

The fund manager suggested to optimize the risk-return ratio by adjusting the position structure, and continue to pursue assets with strong profitability and high profitability certainty, and the style suggestion continued to maintain a balance. Looking forward to the future 1-2 quarter, consumption can be selected pro-cyclically, such as liquor, automobiles, household appliances, new energy vehicles, military industry, etc. , still in a state of high prosperity, on the other hand, pay attention to innovative drugs, semiconductors and other sub-industries in growth stocks.

Therefore, if your foundation meets the above-mentioned key areas of concern, you can consider continuing to observe market changes and timing operations.

Generally speaking, medicine, consumption and other sectors are relatively defensive, and consumption is a general trend near the end of the year. You can choose to actively lay out at the same time as the callback. For this kind of industry funds, it is recommended to see more and move less, so as to keep constant and change.

Of course, if funds are urgently needed for subscription or turnover activities during the Spring Festival, you can naturally choose to redeem the fund, but the income of the fund cannot be guaranteed. Therefore, it is suggested that the funds to be used in the short term should never be used to invest in high-risk funds, such as stock funds, index funds and hybrid funds. High-risk fund investment can only guarantee the return if the time is long enough. If it is needed in the short term, it is suggested to allocate low-risk and high-liquidity funds such as money funds to avoid unnecessary principal losses caused by short-term fluctuations and redemptions.

Finally, whether it is the end of the year or not, for high-quality funds, we can increase the buying intensity in the stage of net value shock consolidation and adopt the strategy of fixed investment in the climbing period. Investment is a process of enjoying compound interest, and long-term investment is expected to get better returns.

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★ Basic knowledge and skills introduced by the Fund

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★ Introduction to Fund Investment

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★ Don't invest in funds in 2002.

★ Common sense of securities investment funds

★ Reading Skills of Annual Report of Securities Investment Fund and Knowledge Fund

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