Source: Securities Daily
Our reporter Wang Siwen
The disclosure of the 2022 quarterly reports of equity funds has officially kicked off. On January 10, the three equity funds under Quam Fund disclosed the Four Seasons Report, and the fund manager’s position operation was also exposed.
In the fourth quarter of last year, the market continued to fluctuate. Affected by the different investment operation ideas of fund managers, the equity positions of the first batch of equity funds that disclosed the four seasons report were quite different. At the same time, product performance has also differentiated. Looking forward to 2023, relevant fund managers believe that new energy vehicles, photovoltaics, tourism and other sectors have investment opportunities, and some of the segments they have explored have relatively high cost performance.
There is a large difference in equity positions
On January 10, the first batch of equity funds’ quarterly reports for 2022 were released. Three equity funds under Quam Fund disclosed their quarterly reports. The equity positions of each fund vary greatly.
Specifically, as of the end of the fourth quarter, the equity investment of the Huafu Flexible Allocation Hybrid Fund managed by Li Xiaohua accounted for 94.73% of the total assets of the fund, a slight increase from the end of the third quarter. The equity investment in Huafu New Energy stocks jointly managed by Chen Qi and others accounted for 88.14% of the fund’s total assets, a slight decrease from the end of the third quarter. The equity position of Huafu Strategy Selected Mix is relatively low, 77.91%, but it has increased by 7.1 percentage points compared with the end of the third quarter.
Judging from the list of heavily held stocks in the fourth quarter, as a fund that focuses on mining high-quality companies with small and medium market capitalizations in tourism-related sectors,Air China、Jin Jiang Hotel、Songcheng Performing ArtsSuch individual stocks are favored by Quam’s flexible allocation of mixed funds. However, the fund’s top ten major holdings have changed significantly.Shanghai Airport、southern Airline、BTG HotelThe other 6 stocks are all new heavyweights in the fourth quarter.
In contrast, the style of fund managers determines the investment allocation of the products they manage in the fourth quarter of last year, and the performance of products has also differentiated.
The Huafu Flexible Allocation Hybrid Fund managed by Li Xiaohua performed very well in the fourth quarter of last year, with a yield as high as 21.74%.Among them, in the fourth quarter of 2022, new heavyweight stocksCYTSThe increase in the secondary market was 39.36%. also,Spring AirlinesThe stock price rose by 24.03% in the fourth quarter of last year.Huatian HotelDuring the period, the increase was as high as 49.32%. In the fourth quarter, the stock prices of Songcheng Performing Arts, BTG Hotel and other heavily held stocks also increased by more than 10%.
In contrast, Huafu New Energy, which is jointly managed by Chen Qi and Shen Cheng, had a yield of 3.22% in the fourth quarter of last year, and Huafu Strategy Selected Mixed had a negative return in the fourth quarter of last year.
Optimistic about investment opportunities in multiple fields
Looking forward to the market outlook, it has gradually become a consensus that multiple sectors in the market are equipped with high cost performance.
Regarding the future investment opportunities in the tourism sector, Li Xiaohua said: “Looking forward to the first quarter of 2023 and even the whole year, the travel chain sector, as the vanguard of recovery, still has a good allocation value in 2023. Recently, there are many high-frequency travel in first- and second-tier cities. The data has begun to show signs of recovery. Based on this judgment, Huafu’s flexible allocation will include other derivative sectors in the travel chain that have recovery opportunities in the future, such as express logistics and other industries, into the investment vision.”
Chen Qi, fund manager of Huafu New Energy Stock Fund, which achieved positive returns in the fourth quarter of last year, said, “In 2023, energy storage batteries, energy storage inverters, energy storage system integration, core components, etc. are all our focus. Storage The cost of many raw materials for energy systems and photovoltaic systems will enter a downward path, and the economics of energy storage projects are expected to improve significantly. Among them, domestic power generation-side energy storage is expected to break through the economic inflection point and usher in an explosion of demand; in terms of wind power, industry demand in 2023 is expected to Ushering in a strong recovery. In order to minimize the impact of industry ‘deflation’ brought about by ‘large-scale wind turbines’, we focus on subdividing directions such as offshore wind power, sea-going links, and localized replacement links.”
Regarding the new energy vehicle sector, which the market is very concerned about, Chen Qi said, “Considering the large correction of the sector, the current valuation is relatively low, the transaction congestion has been significantly reduced, and the configuration is cost-effective. Higher barriers and increasingly rich application scenarios The battery link, the direction of technological progress in the electrification and intelligent industrial chain, and the link with relatively tight supply are also the focus of our attention.”
Massive information, accurate interpretation, all in the Sina Finance APP
Editor in charge: He Songlin