What if the fund has no valuation? For those who just started to buy funds, it is undoubtedly a huge test for them that the fund has no valuation. After all, there is no reference. Therefore, Bian Xiao specially arranged how to buy funds without valuation, hoping to help everyone.
How to buy a fund without valuation?
Why can't QDII funds see the fund valuation?
Because QDII fund is a fund for domestic investors to invest in overseas assets, the investment scope is relatively wide, and it is difficult to evaluate the fund, so it will not show the valuation. When choosing QDII funds, take the investment target as the reference standard.
According to the investment target, it can be divided into stock QDII, mixed QDII, bond QDII and other types of QDII products. It is worth noting that other types of QDII funds mainly invest in major international commodities such as gold, crude oil and precious metals, and a small number of products involve overseas real estate trust investment.
How can I buy QDII funds if I can't see the fund valuation?
1, you can refer to past performance.
QDII funds can't see the fund valuation, but they can see the past performance. If the past performance is poor and the fund continues to decline, then don't choose. When choosing, try to choose QDII funds with good past performance. Although it does not represent the future, it will still have certain reference significance.
2. Look at the fund manager
First, check whether there is a stable historical performance for 3-5 years. Secondly, when choosing a fund manager, we need to look at the long-term performance of the fund manager. You can make a table and filter it yourself. For example, after screening, we can continue to screen fund managers whose average annualized rate of return exceeds 15% and those who have worked for more than 10 years.
I want to buy a fund, but I don't know how.
Buying a fund is the easiest thing. Take your ID card and bank card to the counter to open online banking and fund users, and you can operate online. Very convenient, the fund also has risks, so you need to be cautious when entering the market. Different funds have different risks. According to your actual situation, choose the following investment schemes to see which one is suitable for you:
If you want to pursue high returns, you can consider Huaxia Advantage, Guangfa Strategy, Huaan Bao Li, Yin Hua Fuyu and other stock bases, with stable long-term performance. But the rate of return is difficult to predict.
If we pursue the steady recommendation of the convertible bond fund, the performance of Xingquan convertible bonds will be stable and the trend will basically not fluctuate. In the case of market uncertainty, it is best to invest in convertible bonds. If it goes up, it can be converted into shares for profit, and if it goes down, it can get bond interest. The rate of return is also difficult to predict, but the average rate of return of historical performance is around 30%.
If you buy a capital preservation fund during the subscription period, the income may be less, but the investment style is stable and you will not lose money. Stock-related yields are hard to say.
Short-term funds can be considered to buy strong debt funds or money funds, and there is no handling fee for entry and exit, which is very convenient for three days. This return is basically within the fixed deposit interest rate 10%.
Invest in funds regardless of valuation.
Of course, the industry theme active funds that strictly implement the fund contract need to be valued, and the valuation can refer to the relevant industry theme index. For example, E Fund Consumer Industry Shares, Huaxia Energy Innovation Shares, and ICBC Frontier Medical Shares. , can refer to the main consumption, new energy, medicine index for valuation. There are also some active funds whose names can't be distinguished, but those who focus on investing in a certain industry theme can also refer to relevant indexes for valuation, such as the well-known E Fund Blue Chip Selection and Jing Shun Dingyi, which can refer to the main consumption index for valuation; HSBC Jin Xin Zhi Zhi Pioneer, TEDA transformation opportunity stocks can refer to the new energy index valuation, and so on. However, it is not uncommon for the actual position to be inconsistent with the fund name. For example, some funds marked with names such as Internet, Artificial Intelligence and Cultural Sports Industry, among which liquor, medicine, automobile, chemical industry, or new energy and non-ferrous metal stocks are among the top ten, can't be valued according to Internet, Artificial Intelligence and Cultural Sports Industry Index. For active funds with relatively scattered and balanced industry allocation, I choose to trust the fund manager and leave the valuation to the fund manager to judge: if the stock is overvalued, the fund manager will naturally choose to sell it, while the stock fund manager with lower valuation will take the initiative to buy it. The premise is that the fund manager is selected repeatedly by himself and deserves his trust. I don't advocate the valuation of active stock-picking funds in the whole market. The most important reason is that this valuation is not operable and has little reference significance. Details are as follows: 1, fund position information is lagging behind. The time when we can get the top ten awkward stocks from the fund quarterly report is about 20 days after the end of each quarter (15 working days). In the past two years, the average turnover rate of stocks held by active partial stock funds has exceeded 300%, which means that the average turnover rate is less than four months, and the average turnover rate on the 20th is about 17%. To get all the details of positions, we have to wait until the interim report or annual report of the fund comes out, and the lag time is as long as 2-3 months. A simple estimate shows that the average turnover rate of positions has reached 50-75%. When we get the details of the fund position, the actual position may not be confirmed. 2. To take a step back, only calculate PE, PB and even PEG according to the top ten. Is it possible to make a rough estimate? After all, it takes a short time to get the top ten position from the quarterly report. During this period, the average turnover rate of positions is less than 20%, which means that more than 80% of positions may not change. The calculation method is also very simple. First, convert the total weight of the top ten stocks into 100%, then recalculate the weight ratio of each stock in the top ten stocks, and finally multiply the weight of each stock by its own PE, PB and PEG values and add them up to get the top ten PE, PB and PEG values of the fund. The problem is that holding stocks is distributed in various industries, and the valuation standards of different industries are different. This calculation is of little value. For example, Tian _, the top ten heavyweight stock in China and Thailand, has a weighted PE of 20 times, and the cultural and sports industry of ICBC is 30 times (here is just an example, I don't have a detailed calculation), so what criteria should we refer to for valuation? CSI 300 or CSI 500? 3. We can have further ideas and make a further distinction from the fund's position style. For example, the market value is valued according to the Shanghai and Shenzhen 300, so what is the value growth style? Is the growth style valued by CSI 500 or GEM? Of course, another idea is to calculate the weighted average market value of the top ten positions to see whether they fall in the CSI 300 range or the CSI 500 range, so as to make a valuation with reference to the valuation standards of the CSI 300 or CSI 500 index. However, the distribution of ten stock industries is relatively concentrated, and the conclusions obtained according to the valuation standard of broad-based index are of little reference value. There is only one standard of "valuation" of active funds that has practical value, and that is emotional standard. Everyone is rushing to buy it, which is definitely not cheap; What the public doesn't like is definitely not too expensive. Often the public is rushing to buy three months, half a year, and it has been sharp this year. This kind of hot goods looks good from a distance; What the public doesn't like is that the fund bar is full of abuse, and its recent performance has always declined. It is uncertain whether such a fund is cheap or not, but it is certain that it will not be so expensive. From the perspective of "valuation", I think this kind of active fund can focus on it and even buy it slowly. If you believe that only a few people in the market can make money, then you must be on the opposite side of the public, or on the opposite side of market sentiment. Only in this way can you become one of the few people who make money.