This year's overall opportunities outweigh the risks. Although the sharp rise before the New Year did not make the A-share trend bullish across the board, it was essentially a strong sign after the bottom was built. Superimposed on the current bull market in Europe and the United States, when the global capital market is generally first, a big change in A-shares is likely to be brewing.
3 messages coming
News 1: At present, there are 12 broad-based ETFs in the market with an annual management fee rate lower than when they were established, and 6 of them have the lowest fees in the industry.
This is a major news for the public offering industry, indicating that in order to attract investors, the public offering has chosen to reduce fees and reverse the decline in scale.
In other words, the public offering ** lowered the management fee of the broad-based ETF, and Peony believes that the root cause is that the market has exposed the news that the ETF **lending** is short-selling, which has reduced the trust of some people.
However, the public fundraiser later responded that the scale had little impact, and it also promoted the re-participation of many funds in the ETF.
This time, the current reduction of management annual fees will increase the attractiveness of ETFs, and it is also at a time when the three major stock indexes have reached a stage low and a big turning point, which conveys the confidence of investors to invest at a low level.
News 2: Recently, the MSCI index has undergone a quarterly adjustment, which will officially take effect after February 29**. Regrettably, 48 A-shares** were eliminated and only 4** were added.
Some investors believe that this is bad news for **. The excessive number of ** transferred out is the bearish attitude of northbound funds towards the three major stock indexes.
Peony analyzed the adjustment of MSCI and believed that the market value of the 48 ** transferred out was between 10 billion yuan and 24 billion yuan, but it did not meet the investability standards of MSCI and did not represent a bearish trend on A-shares.
The four new additions are all A-share companies with the highest market capitalization, among which the market value of Midea, the leader in the home appliance industry, exceeds 400 billion yuan.
Moreover, this week's A50 period refers to more than 13%, indicating that northbound funds are still optimistic**, and there is no accelerated sell-off of A-shares due to MSCI adjustments**.
News 3: Managers are bullish on the Year of the Dragon, and some managers believe that the valuation of high-quality growth stocks has been 10 times and 15 times, and the risk will no longer continue to be magnified.
More importantly, before the New Year, the small and micro market short-term cycle is under pressure, fortunately, high-dividend assets have shown signs of resistance, and the latter ** whether it is valuation, its own historical law, the current position is more cost-effective.
Peony believes that the median PE of the A** field has dropped to 1799 times, the lowest level since 2010, reflects the market's very negative expectations for the future, and there will be a reversal in adversity.
Prepare for a big change
From the news 1, the scale of broad-based ETFs continues to grow, and they have begun to reduce fees, and this year's ** is expected to make broad-based ETFs attract more investors to participate and amplify the rise of the three major stock indexes.
News 2 shows that MSCI's rebalancing has caused some investors to worry that northbound funds may lose confidence in A-shares.
However, the A50 index of the A50 period indicates that foreign investors are still optimistic about the **, and the northbound funds will accelerate the pace of the first in February.
News 3 to talk, ** manager bullish on the leading trend, maybe the next opportunity is in high-quality growth stocks.
* Investors are ready, a big change in A-shares is likely to be brewing, if 2635 points is the bottom, 2800 points is the second bottom, the Shanghai Index will not fall back to 2635 points, will be supported at 2800 points, open a big change and rise, perhaps in the first half of the year ** is expected to rise back to 3100 points.
The article is a peony investment idea, the content is for reference only, does not constitute investment advice, thank you for lighting up the little thumb below!