Expect valuations of the Fund to repair market blue chips in the second quarter of spring flowers

millet painted reporter Meng Qunshu just past in the first quarter, offering Fund list freshly in the first quarter of this year. A clear signal is that the style of blue chip Fund, the blue-chip index funds finally get through the winter, usher in the spring season, occupy the forefront of the rankings.
This suggests that marketing style in the first quarter the balance back in favour of silence has long blue-chips. Not only that, shortly before the first quarter of the Central Bank's monetary policy Committee meeting, to be held, is the market interpreted as "passing a tightening weakened signal" blue chip "repair market valuations" mainstream judgment. Recommended reading · Xia stage fengji investment policy
· silver Feng feiliu direct Xia buy base variable bomb Wang yawei 1 quarter provisional WINS Sun Jianbo Fund early layout real estate Rob rebound 2010 Fund NET Shen foreclosure list (list) Fund annual report six cases "most" 2010 fund new into 232 only heavy warehouse unit a quarter Fund champion gallon machinery financial [hexun know] ABC Fund will cast problem Central Bank statement raised market speculation recently, people's Bank of China currency policy Committee 2011 first quarter meeting held.
Worth note of is, this meeting does not continued 2010 years IV quarter meeting "currency credit and liquidity management and the prevention financial risk of task still difficult" of expressed, but passed out new of expressed, is "currency credit situation are to macro-control of direction development", stressed to close concern international domestic economic financial latest trends and effect, seriously implement implementation sound currency policy, improve currency policy of targeted, and flexibility and effectiveness. Because of the austerity policy is an important factor affecting the a-share market, thus, this latest statement came out against austerity policies, immediately attracted market attention. According to the analysis of large funds, these expressions indicate, the Central Bank concerns about monetary and credit growth and liquidity pressures too rapidly declined in the early, perhaps a harbinger, pace and intensity of policy tightening may gradually weakened.
Thus, if future tightening peaked on schedule over time, market directions may be given more optimistic direction. Xinhua pointed out in the Fund's investment strategy in the second quarter, from the effects of credit crunch and real estate, auto subsidies to cancel, in the case of overseas oil prices to rise, China's economic growth will dip in the second quarter, and will enter a new round of economic growth cycle in the second half. Currently seems, after first quarter of market adjustment, previously valuation more your of medicine, and consumption, and electronic, and retail, plate, currently valuation has down to reasonable interval; valuation more cheap of real estate, and machinery, and building materials, and appliances, plate, in first quarter has more significantly of rose, but financial, and real estate, and coal, weight sexual plate of valuation repair range still lower, currently valuation still in 10 times times and 15 times times near, is expected future also will continued for valuation repair. Although the market had close to 3,000 point pressure intervals, but from a valuation perspective, the next few quarters, above underestimated the plate has a round of increases in the value of the opportunity.
Therefore, the market will continue in the second quarter profit cycle class, driven by rising prices, and weak consumer cyclical industries will gradually have investment opportunities in the second half. At the same time, Central European Fund analysis, market expectations in March before economic data published, tightening temporarily entered a period of observation.
Deposit reserve rate again by does not cause there is a clear rise in market interest rates, market liquidity more comfortable now, under the influence of the expected weight units rely on the good performance is expected to set off a wave of valuation fixed prices. style of blue-chip ETF temporary upper hand 2011 year ended quietly in the first quarter, in the Fund's top blue-chip-style Fund elated, sweeping away two years continued to lag behind and Small-Cap Fund's depressed. Judging from the first quarter of 2010, "28 converted" first straw is hot last year round and small-cap stocks in the high valuations and gem continued under pressure, valuation at historically low levels of traditional blue chips show hyperactive. Forefront is a ranking of top performance emphasis style of blue chip Fund.
Among them, consistently ranking, such as harvest fundamentals 50 index blue chips at the end of the Fund, also jumped into the forefront of the rankings. Many index funds, China Fortune SGAM ETF comes top of value. According to WIND data and statistics, as of March 29, Warburg cumulative net growth rate of 7.48% of the industrial value ETF, beyond the CSI 300 index 4.15% per cent over the same period. The reason, and ETF industry is inseparable from the distribution.
Statistics show that value of ETF shares belonging to underestimate the value cycle industry, financial sector weights per cent, mining industries accounted for more than 61%.
Value ETF of Fund Manager Xu Linming pointed out that, currently is for of style rectification still will continued, style rectification of nature is value regression, market blue chip, and value unit, and cycle unit was excessive down of valuation level has must of value upgrade requirements, and was overestimated of small disk unit also has risk continues to release of requirements, currently emerging industries theme unit are is to foam, and get rid of of differentiation adjustment process, valuation rectification conducive to late investment opportunities of balanced of, this year again appears last year small disk unit rule of probability smaller, and to financial, and resources for representative of market blue chip, and value unit, and cycle unit in this year get excess income of probability larger, therefore future Shanghai composite 180 value, and in the card 100, blue-chip index of performance relative optimistic. take ETF to capture blue-chip market after experiencing tepid market in the first quarter, Christian Democratic are eager to find hot spots in the second quarter. According to buy Fund Research Center analysis, market hot switching quickly, investors difficult to grasp, may wish to seize the certainty of investment opportunities.
Among them, underestimated the value of the excellent performance of the annual report for blue-chips are expected to gradually repair investors earlier on pessimism in traditional industry, coupled with the underestimated value stocks with a high safety margin, and blue-chip-style Fund or secure choice. Are issued silver Agricole CSI 300 index fund of funds Manager Zhang Wei says, from the perspective of Christian Democratic investments, if difficult to chase market hot, low rates of index funds may be appropriate to focus. ShanghaiShenzhen 300 index has gathered strong profitability, growth and high market of blue-chip sector. Recent CSI 300 Fund to one of the main causes of concern were "28 style" conversion started early clues directly driving the CSI 300 index of upward shocks, its large blue-chip sector has also been the subject of a number of institutions of all ages. Data from the industry, domestic economy has begun to show signs of stages slow in the near future, if continued over time, we see the CPI data began to gradually decline, then the "28 style" conversion of the most important conditions were met. In addition, real estate regulation expected improvements will also accelerate the deepening of this phenomenon.
The a-share market in the future may be in the low valuation on market led by blue chip to the previous stage. Not only that, in the SSE 50 index, 100 index, Shanghai 180 index, financial real estate index, are owned by large blue chip Fund style index configuration, as a base to provide enough rich investment tools.
In addition, for senior Christian democratic, familiar with the style of a-shares convert, sea Fortis SSE cycle, aperiodic ETF also as tool for the investment of the deal. Specifically, SSE aperiodic industry 100 index by 17 such as farming, forestry, animal husbandry and fishing, food and beverage industry with features of non-periodic selection of 100 stocks in composition. While the SSE 50 index cycle industry selected cyclical industries such as finance, real estate comprising 50 units. Sea Fortis SSE 100ETF proposed in non-periodic industry Fund Manager Liu Ying said from nearly two years of the market situation, cycle, non-wheel of the cycle index feature is obvious. For example, during the 2009 economic recovery, performed significantly better than non-periodic cycle index index. In the adjustment of the market in 2010, performed significantly better than non-cycle index cycle index and represents the trend of Shanghai Stock Exchange SSE full meaning. A share style round this year, so investors can two Index ETF investment operation style of rotations, is expected to get the excess profits.