The potential long looming 80% new fund positions waiting for the opportunity – fund channel statistics show that equity fund products in recent 3 months established, in a state of short positions accounted for about 80%, more than 50% of the fund less than 10% positions. Fund managers believe that the current stock game market is the lack of new funds to enter the market, and then whether to increase or lighten up, we need to pay attention to the expected difference of reform and policy adjustment and control of the time difference. 80% new fund positions in September 12th the market fell sharply, which represents the blue chip market in Shanghai and Shenzhen 300 index fell 1.67%, the gem index representative of emerging growth stocks fell 2.61%. From the fund performance, the average value of partial stock funds fell by 1.55%, of which the average net value of ordinary equity funds fell by 2.27%, the average value of index funds fell by 2.12%, and the average value of partial shares of hybrid funds fell by 1.31%. Compared with the changes in the net fund and market changes, the lowest position requirements of the stock fund positions generally higher, while the hybrid fund positions roughly six or seven. (see the fund asset allocation) positions from the recent establishment of the active management of fund products, the overall position is very low, of which 80% fund products are basically in the state of short positions. Statistics show that in June since the establishment of the 172 actively managed fund products, including common stock funds, partial shares of hybrid funds and flexible allocation of funds, in September 12th fell, the net decline in more than 1% of only 20, the net change in more than 0.5% products is only 28, while net in less than 0.2% of the fund up to 126. The control the overall market price range, the new fund, about 80% in the basic state of short positions, the position is higher than 50% of the fund is only more than 10% products. Similarly, in the July 27th crash, as well as the market rose in August 15th, the new fund net changes are very small, the overall position is also very low. That is, in September 12th the net decline of 20 products more than 1%, including 7 Shanghai Hong Kong Shenzhen theme fund, including a 2.67% decline in Qianhai Shanghai and Hong Kong open source selection, leading deep down 2.11% BAOYING Internet deep Shanghai and Hong Kong etc.. Waiting for Jiancang opportunities in the industry view, relative to the establishment of a longer time of public fund, the fund has just set up a new fund position configuration, more able to show the fund manager’s judgment on the current market. The new fund maintained a very low position in the whole, indicating that fund managers are waiting for better Jiancang opportunity. An emerging growth style fund managers believe that since the beginning of the year fell, the market continued low volatility, lack of money effect, investor risk appetite, the pursuit of deterministic performance becomes an important logic fund manager positions, but underestimate the value of blue chips rose, this matter belongs to the assets of the company’s debt attraction also decreased, while the market diffusion to the PPP market, or that the bond asset class investment logic gradually coming to an end. In terms of the fund managers, although most of the new fund positions are very low, but not.

潜在多头隐现 八成次新基金空仓等待机会-基金频道  统计数据显示,最近3个月来成立的权益类基金产品中,处于空仓状态的占八成左右,仓位超过五成的基金不足一成。基金经理认为,当前存量博弈行情缺乏新增入市资金,接下来是否加减仓,需要关注改革推进的预期差和政策调控的时间差。   八成次新基金空仓   9月12日市场大幅下跌,其中代表大盘蓝筹股的沪深300指数下跌1.67%,代表新兴成长股的创业板指数下跌2.61%。   从基金表现看,偏股型基金净值平均下跌1.55%,其中普通股票型基金净值平均下跌2.27%,指数型基金净值平均下跌2.12%,偏股混合型基金净值平均下跌1.31%。对比基金净值变化及市场涨跌变化情况看,有最低仓位要求的股票型基金仓位普遍较高,而混合型基金仓位大致为六七成左右。(   点此查看基金资产配置)   从近期成立的主动管理型基金产品的仓位情况看,当前整体仓位非常低,其中八成基金产品基本处于空仓状态。统计数据显示,在6月份以来成立的172只主动管理型基金产品,包括普通股票型基金、偏股混合性基金和灵活配置型基金,在9月12日的大跌中,当日净值跌幅超过1%的仅20只,净值变动超过0.5%的产品也仅28只,而净值变动不足0.2%的基金多达126只。对照当天市场整体涨跌幅度,表明上述次新基金中,八成左右基本处于空仓状态,仓位高于五成的基金产品仅有一成多。同样在7月27日的大跌中,以及8月15日的市场大涨中,次新基金的净值变化均很小,整体仓位同样极低。   需要说明的是,在9月12日当天净值下跌超过1%的20只产品中,还包括7只沪港深主题基金,包括下跌2.67%的前海开源沪港深龙头精选、下跌2.11%的宝盈互联网沪港深等。   等待建仓机会   在业内人士看来,相对于成立时间较长的公募基金来说,刚刚成立不久的次新基金仓位配置情况,更能表明基金经理对当前市场的判断。次新基金整体维持在极低仓位,表明基金经理还在等待更好的建仓时机。   沪上某新兴成长风格的基金经理认为,从年初下跌以来,市场低位持续震荡,赚钱效应缺失,投资者风险偏好下降,追求确定性业绩成为基金经理持仓的重要逻辑,但是低估值蓝筹股上涨,本质上属于类债资产公司的吸引力也随之下降,当市场行情扩散到PPP行情时,或表明类债资产的投资逻辑逐步进入尾声。   在上述基金经理看来,尽管大部分次新基金仓位很低,但并不意味着看空市场。“低仓位主要是基于避险的原因,如果前期上涨的蓝筹股遭遇调整,市场整体估值承压,对新兴产业概念股同样会造成打压,如果跌出机会,将是建仓的良好时机,对于大部分低仓位乃至空仓基金来说,空仓更多意味着潜在的多头。”   另一位基金经理表示,接下来是否加减仓,需要关注改革推进的预期差和政策调控的时间差。如果改革力度超出市场预期,或者政策推进时间比市场预期乐观,将会带来好的入市机会。   统计数据显示,最近3个月来成立的偏股基金,首募总规模为597亿元。根据测算,除了已经建仓的基金以外,可供入市的资金约为530亿元左右。在基金经理看好的板块中,主要有高景气度的农业、消费、家装等行业;还有多位基金经理看好有政策预期、调整比较充分的新能源汽车板块,认为在年底之前还会有一波行情。相关的主题文章: