Author: Wang Ning
Recently, public funds and brokerage asset management have launched a round of large-scale self-purchase. “Securities Daily” reporter statistics found that within 3 days, a total of 25 public funds and securities company asset management made self-purchase, and the cumulative self-purchase amount reached 1.76 billion yuan. Among them, there are 13 institutions with more than 100 million yuan. From the perspective of self-purchased products, they are all equity products.
A number of public fund stakeholders told the “Securities Daily” reporter that public funds and securities company asset management self-purchases reflect institutions’ mid-to-long-term optimism in the A-share market, which has strengthened market confidence.
In order to convey confidence to the market, many institutions have disclosed the period of self-purchase and holding. On October 18, Ruiyuan Fund announced that based on its confidence in the long-term, stable and healthy development of China’s capital market, the company will use its own funds to subscribe for its public funds. in 5 years. Institutions such as Zhongtai Asset Management and Bank of Communications Schroders Fund announced that they will subscribe for their stock-oriented public funds and hold them for at least one year.
On October 17, Harvest Fund, China Asset Management, E Fund and many other leading public funds announced their own purchase plans. Subsequently, a number of brokerage asset management companies including Guotai Junan Asset Management and Huatai Securities Asset Management also joined them; 12 public offerings and asset management of securities companies started self-purchase actions. On October 18 and October 19, 13 institutions including Industrial Securities Global, Invesco Great Wall, Bosera Fund, Ruiyuan Fund, China Merchants Securities Asset Management and Industrial Securities Asset Management joined the self-purchase action.
From the perspective of self-purchased targets, the self-purchased products of 25 institutions are all equity products. For example, Harvest Fund and China Asset Management announced that the self-purchased funds will be invested in the company’s partial equity public funds, or invest in its equity public funds. Even if China Europe Fund, Guotai Junan Asset Management and other self-purchased FOF products, but these products are also partial stock funds.
In terms of the amount of self-purchased funds, 25 institutional investors have self-purchased between 100 million and 150 million yuan. Among them, there are 13 institutions with more than 100 million yuan, and E Fund Fund topped the list with a self-purchased amount of 150 million yuan.
The self-purchasing action of institutional investors reflects their optimism about the long-term development of China’s capital market, which not only conveys confidence to the market, but also proves it with practical actions. A person related to a public fund in Shanghai told the “Securities Daily” reporter that the A-share market as a whole is in a wide-ranging shock this year. The self-purchasing action of institutional investors is on the one hand to convey market confidence, on the other hand, reflects their confidence in the current market. Seize investment opportunities.
“The current overall valuation of A-shares may have returned to a reasonable range, and the superimposed market liquidity continues to remain reasonably sufficient. The market contains abundant investment opportunities. We are firmly optimistic about the mid- and long-term performance of A-shares.” A relevant person from China Universal Fund said that China’s economy The long-term positive fundamentals will not change, nor will the pattern of high-quality economic development in China. Multiple deterministic factors will help the Chinese economy move forward steadily: First, China is the market with the most potential for growth in global domestic demand; second, China has the greatest potential for growth. Complete supply chain and industrial chain supply; third, China has abundant engineer dividends; fourth, China has diligent and kind people who constantly pursue a better life. These are the most certain growth points of the Chinese economy.
China Europe Fund stated that based on its confidence in the long-term, stable and healthy development of China’s capital market, and on the principle of sharing risks and interests with the majority of investors, the company has made the decision to purchase and hold relevant funds for a long time.
(Editor: Xu Nannan)
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