◎Reporter Zhu Yan
In the first week after the Spring Festival holiday, 17 new funds will enter the sale period, firing the “first shot” of the Year of the Rabbit. Under the background of the market bottoming out and stabilizing before the festival, not only the confidence of capital borrowing into the market has increased, but also the new enthusiasm of fund companies has gradually increased.
Choice data shows that in the first week after the festival, 9 fund companies, including Wells Fargo Fund, Huabao Fund, China Asset Management, Harvest Fund, and China Universal Fund, launched new base offerings. In terms of product types, newly issued funds are mainly equity products, including 6 hybrid funds, 6 QDII funds, 2 bond funds, and some commodity and index funds.
Not only that, judging from the existing announcements, 41 funds were “ready to launch” in February, and the proposed fund managers of many of these products also have relatively high popularity. For example, Chuangjin Hexin Industry Zhenxuan Balanced Mix, which will be released on February 13, is proposed to be the star fund manager Li You; Sun Bin manages, and he just established a new fund in January.
“Fund companies have stepped up their deployment at the beginning of the Year of the Rabbit. On the one hand, they may be optimistic about the future layout opportunities of the market; on the other hand, the market is warming up before the festival, and the confidence in funds is gradually increasing, which is also conducive to the issuance of new funds.” There is a market. People said.
With the gradual increase in market risk appetite, in January this year, the initial offering scale of several equity funds exceeded 1 billion yuan, such as the 18-month closed-operated stocks of Zhonggeng Hong Kong Stock Connect, and the three-year holding period of Fuguo Cycle Selection Mix. Among them, the 18-month closed operation stock of Zhonggeng Hong Kong Stock Connect managed by Qiu Dongrong became the first “explosive fund” in 2023, which was sold out in one day and raised nearly 2 billion yuan.
Judging from the overall new fundraising situation in January, although the total fundraising scale is not large during the Spring Festival holiday, the initial fundraising scale of equity funds accounted for nearly “half of the country”, and the establishment of hybrid and stock-type new funds The number also accounts for more than half.
“Policies to stabilize the economy have been implemented one after another. Judging comprehensively, we are currently at the turning point on the left side of the economic growth cycle, and we should adopt a positive and optimistic attitude. The capital market in 2023 may usher in the spring of investment.” Agricultural Bank of China Fund manager Luo Wenbo said.
Overall, fund companies are more confident in investing in the Year of the Rabbit under the trend of economic recovery. In terms of specific configuration, the analysis of the Industrial Fund believes that expanding domestic demand and stabilizing growth in 2023 are the main lines of policy and economic work, and the first quarter is the time point when policies for stabilizing growth and expanding domestic demand will be introduced intensively. At the moment of fast, it is recommended to look for subdivisions with higher cost performance in the main line as configurations. In addition, the direction of high-end manufacturing and digital economy is also worthy of gradual attention.
At the same time, some fund companies also reminded that in terms of market structure, the subsequent structural market will depend on the realization of fundamentals, and the structure may return to equilibrium. GF Fund believes that the improvement of sentiment during the spring turmoil may not face the “constraint” of valuation so quickly. Whether it is the growth sector or the value sector, the current valuation level is relatively low in the past 3 to 5 years.
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Editor in charge: Lu Chengfei