After the National Day holiday in 2008, the stock market oversold and rebounded. Many institutions believe that there may be a wave of oversold rebound and structural market in the fourth quarter, and investors can participate in the rebound through partial stock funds with a moderately optimistic attitude. The following small series will tell you what funds are expected to be sought after in the oversold rebound.
The meaning of oversold
Oversold refers to a technical term that the stock price is far below the normal price and the stock price falls excessively. With the development of the stock market, its great ups and downs have created many new terms.
Opportunities are mainly structural.
Haitong Securities (Quote 600837, Consulting) judged that the stock market was in a good stage in the fund investment strategy of June 5438+ 10, and both funds and policies provided good support. However, considering the rebound rather than reversal, in terms of asset allocation, only fund investors are advised to adjust the investment ratio of hybrid funds from low allocation to neutral allocation. At the same time, in the choice of fund varieties, investors are advised to increase the allocation ratio of growth funds in the portfolio and pay attention to fund managers with strong stock selection ability. If the structural market with stronger growth than value continues, such fund managers are expected to achieve above-average performance.
According to the fund investment strategy of Shanghai Securities in June 5438+ 10, it is expected that the market will bottom out in June 5438+ 10, and the market investment opportunities are mainly structural opportunities, and the hope of rising is gestating. It is suggested that investors turn to neutral optimism and low-risk investors continue to maintain a relatively neutral allocation structure; High-risk investors appropriately increase the proportion of equity funds.
In June 5438+ 10, Shanghai Securities advised investors to focus on hybrid funds with outstanding stock selection ability and strong band operation ability; In terms of theme, it is suggested to focus on the allocation of theme funds for state-owned enterprise reform, focusing on outstanding funds in the pro-cyclical blue-chip sector that benefit from the acceleration of fixed investment; Appropriate allocation of small and medium-sized growth style funds with real stock selection ability.
According to the investment strategy of 10 issued by some institutions, the current market risk has been greatly released, and the leverage risk is generally controllable. In addition, the market turnover continues to shrink, institutional positions are generally low, and the recent anti-corruption efforts in the financial sector have also supported the recovery of the A-share market, which is not pessimistic in the short term. However, the global market is currently in a turbulent period, and multiple uncertainties such as exchange rate, commodities and economic downturn are superimposed. Future optimism needs to be more cautious. In terms of fund allocation, for medium and long-term investors, it is still recommended to grasp funds with strong stock selection ability.
Choose the right opportunity and add positions in batches.
According to the fund investment strategy of Shikai Fortune 10, the bottom of the market has gradually become clear, and many factors affecting the trend of A shares have basically stabilized. The unexpected economic downturn in the future may become a key factor affecting the stock market. It is suggested to maintain a positive attitude and be sensitive to fundamental data. When long-term investment opportunities come, investors can increase their positions in batches, pay attention to the impact of economic data in the third quarter, and control their positions appropriately. After the influence of economic fundamentals can be controlled, you can continue to add positions.
In the product selection of mixed stock funds, Shikai Fortune suggested paying attention to partial stock mixed funds and active stock funds with strong short-term trading ability and outstanding stock selection ability of fund managers. For investors of portfolio funds, it is suggested that the core part of the portfolio should be equipped with growth style funds, and the satellite part should be equipped with value style funds and theme funds. Theme, focusing on medical devices, medical reform, network security, computer applications and other recommendations.
According to the investment strategy report of some institutions in the fourth quarter, the A-share market will face a more stable market environment in the fourth quarter, and the gradual stabilization of the stock index is a high probability event. With the gradual recovery of market confidence and technology, the introduction of unexpected reform measures, and the expectation of economic stabilization and rebound in the fourth quarter, the possibility of stock index rebound in the fourth quarter is not ruled out. Although space and strength are unknown, there is no need to be pessimistic. Active and steady investors can properly participate in or decide to participate in partial stock fund investment.