Bosera Chartered Value Fund was issued on April 22nd, which is a new fund launched by Bosera Fund after a lapse of more than one year. As a 1 1 open-end fund under boss fund, one of the major innovations of boss franchise value fund is to introduce the overseas classic investment strategy of "franchise value" into China for the first time. As the core competitiveness of enterprises, "value beyond financial statements" has become an important basis for analyzing the investment value of listed companies in the future investment management process of Bosera Chartered Value Fund.
The franchise value concept is the deepening of the value investment concept advocated by Bosera Fund. Moreover, Chen Liang, the proposed fund manager of Bosera Franchise Value Fund, also serves as the investment director of the quantitative group of Bosera Fund Company, and the characteristics of quantitative investment will be fully reflected in the future investment management of Bosera Franchise Value. How will Bosera Franchise Value Fund fully tap the franchise value of enterprises and create returns for investors through quantitative investment? The reporter interviewed Chen Liang, the proposed fund manager of the fund.
Chen Liang explained that quantitative investment is to embody the investment idea in a specific model through the design of specific indicators and parameters, so that the model can track the market without any emotion. This tracking will greatly expand the breadth and depth of fund investment. At present, there are more than 1500 listed companies in the market, but investment opportunities will never be concentrated in the top 50 or 100. In the process of investment and research, investors are often restricted by their familiarity with listed companies, likes and dislikes and other factors. If we look for investment targets in this way, we may ignore some investment opportunities. Therefore, whether it is the active fund, the fund Yuze managed by Chen Liang or the management of the future Bosera franchise value fund, the initial screening of stocks is completed by establishing a model, and then the fund portfolio is constructed through in-depth research on this basis to fully tap the investment opportunities in the market. Chen Liang said that in the initial screening of stocks, the profitability and gross profit margin of enterprises will be valued. The longer an enterprise maintains good profitability in the past, the greater the possibility of continuing to create good returns in the future.
According to the statistics of Morningstar China, as of April 1 1, Yuze Fund managed by Chen Liang had a return on investment of 45.73% in the past year, ranking 9th among 32 closed-end funds. Because the interference of human factors is avoided, another advantage of quantitative investment is that it can ensure the continuity and reproducibility of investment performance to a great extent, so the performance of Bosera Franchise Value Fund will also be worth looking forward to.
As for Bosera Franchise Value Fund, Chen Liang said that Bosera Franchise Value Fund will initially screen listed companies through quantitative investment tools. After preliminary screening, diamonds and stones are often left behind, and then relying on Bosera's powerful research platform and the research judgment of fund managers, diamonds with franchise value, high return on investment and reasonable valuation level are further selected and included in the portfolio, while stones with little value are thrown away.
Chen Liang said that in the same industry, the market environment faced by each enterprise is basically similar, except that some enterprises are leaders, some are followers and some will be eliminated. The reason why the return on investment of enterprises is so different lies in the "franchise value" of enterprises. Franchise value is the unique advantages of different listed companies in brand value, customer loyalty, technological leadership and long-term business philosophy. Franchise value forms the competitive advantage of enterprises, and enterprises with franchise value can also get long-term high return on investment.
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