2023 is coming to an end, and the new year** release is quietly kicking off. Recently, a number of new rights and interests have announced the 2024 issuance date, including many products that are "in charge" by many powerful managers. A number of public offerings recently expressed their views that next year's A** investment opportunities are better than this year, especially under the continuous gathering of relevant favorable factors, many sectors ushered in a better layout opportunity, such as dividend assets, consumption, electronics and pharmaceuticals and other sectors.
Choice data shows that at present, 11** have announced the issuance schedule for 2024, and more than half of them are stock-biased**. On January 2, the first trading day of 2024, 3 new ** will be issued;On January 8, there were 4 new **s unveiled on the same day. The companies that issued new ** include Harvest, China Merchants, Invesco Great Wall, CEIBS and many other leading public offerings.
Judging from the new proposed manager, many companies have sent their powerful cadres. Taking Lu Ben, the proposed manager of Huaan Ruixin's preferred mix, as an example, in addition to the new **, he currently manages 8** at the same time, with a total management scale of more than 10 billion yuan. Wang Xiaoning, the proposed manager of Guofu Zhaorui Preferred, also manages a number of products at the same time, and has served as the manager of Guofu Strategic Return Mixed A** for more than 10 years, with an annualized return of more than 8% during his tenure.
For the timing of the issuance of the new **, some public offering people believe that although the current market continues to be **, the valuation of A-shares is undoubtedly in the bottom range, and there is a high probability that a good return on investment may be obtained in the future. In Wanjia**'s view, the current overall valuation of A-shares is still in a low range, with the continued efforts of domestic policies and the recovery of overseas economic demand, the A-share index is expected to start an upward trend in the future.
Xu Lirong, general manager and investment director of Guohai Franklin**, said that on the whole, next year's consumption is likely to be better than the current market expectations, and its contribution to economic stability and market profitability may be more obvious. In addition, from the perspective of global asset allocation, A-shares have been relatively underweight to global investors in the past one to two years. As a result, even a small upward marginal change in fundamentals can be very resilient. If the fundamentals improve next year, the overall market will move more healthily.
On the sector, we are more optimistic about the structural changes in the economy. First, manufacturing, especially high-tech investment, has shown remarkable resilience. This shows that technology upgrading has become a consensus, and we will be optimistic about this clue for a long time. Second, China's high-end manufacturing industries such as automobiles, new energy and electronics have begun to steadily advance globally, and have already gained considerable market share in some markets. This is a substantial step forward in China's manufacturing industry, and it is expected that its market share will continue to increase as more and more companies set up production capacity overseas. An Yun, chief investment officer of Schroders Management (China), said.
In addition, An Yun said that in the context of economic and corporate earnings adjustment, the rise of "flat" consumption is a bright spot in the consumer market this year, and related companies have also achieved outstanding growth, and he will continue to pay attention.
China Merchants ** focuses on three types of assets. The first is dividend assets, which is viewed that with the decline in interest rates, the relative advantages of low valuation and high dividend categories** are still significant, such as power equipment, highways, operators, petroleum and petrochemical sectors;The second is mass goods, which are valued at a low level in the past decade, and benefit from the improvement of the income of low- and middle-income groups and the trend of affordable consumption, among which food, dairy products, snacks and other sectors are worth tracking;The third is the electronics and pharmaceutical sectors, which benefit from the improvement of global financial conditions and the recovery of the industry cycle in the medium term.
Original**: Shanghai **Daily.