After the Spring Festival holiday, the A** field rebounded strongly, and the public offering seized the opportunity, took advantage of the momentum, and actively laid out active equity products (including ordinary ** type, partial stock hybrid type, balanced mixed type**, the same below), and seized the "good start" of equity. The new products involve a number of popular industry themes such as high-end equipment, medicine, digital industry, state-owned enterprises, and dividends, among which there are many innovative products that "stack buffs" on popular strategies such as "dividends" and "quantification".
Looking forward to 2024, some public offering institutions said that the current over-falling ** caused by liquidity easing is basically repaired in place, and the short-term market may enter an observation period, waiting for the verification of positive macro signals.
The highlights of the "new war" continue
Wind data shows that in the second week after the Spring Festival holiday, the public offering ** new market continued to be hot, and the number of new active equity products exceeded the first week after the holiday, and only on February 26, there were 5 active equity ** on sale, involving high-end equipment, technology, digital industry and other hot industry themes.
SDIC UBS**Qi Lianpeng, Golden Eagle ** Chen Ying and other well-known high-performance managers have taken charge, and they are respectively proposed to be the ** managers of SDIC UBS Hongxin Return Mix and Golden Eagle Technology Zhiyuan Mix. In 2023, a number of Chen Ying's active equity products will perform well, ranking at the forefront of the public offering market. Recently, some active rights and interests** have been newly issued.
Data**: wind
Overall, as of February 26, a total of 33 active interests** are currently being issued, and another 7 active interests** are waiting to be issued, and the new ** involves hot industry themes such as medicine, digital industry, state-owned enterprises, and dividends. For example, Caitong Pharmaceutical and Health Hybrid, Wells Fargo Pharmaceutical Innovation**, Bank of China Digital Economy Hybrid, Huaxia Digital Industry Hybrid, Huaxia State-owned Enterprise Innovation Hybrid Initiation, 10,000 State-owned Enterprises Power Hybrid, Bank of Shanghai State-owned Enterprise Dividend Hybrid Initiation, Xinao Dividend Smart Hybrid, etc. It is worth noting that among the active equity products currently waiting to be issued, there are innovative products such as CITIC Prudential State-owned Enterprise Dividend Quantification**, Xiangcai Dividend Quantitative Stock Selection Mix, etc., which will "stack buffs" on popular strategies such as "dividends" and "quantification". According to the prospectus, CITIC Prudential SOE Dividend Quantification** focuses on investment opportunities in listed companies related to the dividend theme of state-owned enterprises with good operating conditions and stable dividend distribution capabilities, and builds a quantitative stock selection model. Xiangcai Dividend Quantitative Stock Selection Mix focuses on investing in listed companies with relatively stable dividends and high dividend yields, through multi-factor quantitative stock selection, and the proportion of investment in the dividend theme related to the definition of ** is not less than 80% of non-cash** assets. Seize market opportunities
Looking ahead to 2024, Qi Baopeng publicly stated that the current market valuation is very low and is in a very attractive position. As expectations recover and liquidity microstructure continues to improve, we are likely to see the market outperform better than last year. And, with macro and sector beta relatively flat, the alpha factor is likely to be relatively effective.
According to the analysis of Golden Eagle, the over-falling ** brought about by the current liquidity easing is basically repaired in place, and the short-term market may enter an observation period, waiting for the verification of positive macro signals. With Huijin announcing that it will continue to increase the scale and scope of its ETF holdings, it has effectively alleviated the problem of negative market liquidity in the near future, and the market has bottomed out**. In terms of industry allocation, Golden Eagle ** suggested that we should grasp the opportunity of rotation repair in the growth direction, and pro-cyclical assets need to be verified and observed by policies.
In terms of technology manufacturing, Golden Eagle ** expects that with the performance of overseas technology giants, the domestic mapping direction of AI may enter a short-term correction, and the direction of computing power benefiting from the domestic policy direction may be continued, but the funds diverted by AI may flow to other technology themes such as satellite Internet, intelligent driving, and robots, and stagflation of medicine is also worth paying attention to. In the pro-cyclical sector, the growth space of pro-cyclical core assets such as food and beverage remains to be verified and observed, and the high-dividend strategy may be able to lay out the dip. Recently, there have been frequent hot spots in the AI sector, but there are also views that there is more hype. Bao Yuanwen, manager of Caitong Asset Management, believes that the AI industry has just begun, and short-term performance is not in line with the law of industrial development. "However, as the industry continues to advance, the performance has begun to be realized in the computing power sector, and application-related companies may gradually cash in later, so they are still optimistic about the investment opportunities in the AI sector in the future. (Article: China Daily).