Original title: Fund’s second quarterly report kicks off
The second quarter of 2021 ends, and the second quarter report of public funds has also begun to be disclosed in the near future. Flush data shows that as of press time, 28 funds under many institutions, including Bank of China Fund and Hengyue Fund, have taken the lead in releasing second-quarter results. In the fast-moving market style, in the second quarter, fund managers are more inclined to focus on companies with sustained high-quality growth in profits while maintaining a relatively high position.
The 28 products that have released the second quarter report include 9 partial-equity hybrid funds, 9 long-term pure debt funds, 8 money market funds and 2 flexible allocation funds. From the perspective of some partial-equity funds, most of their stock positions increased at the end of the second quarter. For example, the share of BOC Healthcare’s flexible allocation of hybrid funds accounted for 86.81% of total assets, which was an increase from 84.95% at the end of the first quarter; Hengyue Growth Selected Hybrid Fund, Hengyue Domestic Demand Driven Hybrid Fund, Hengyue Fund, Partial stock funds such as Hengyue Core Select Mixed Fund also increased stock positions. Among them, Hengyue Growth Select Mixed Fund increased from 54.83% of stock positions at the end of the first quarter to 79.04%, and Hengyue Core Select Mixed Fund’s stock positions increased from 77.84% to 84.79%.
In terms of holding structure, the funds adjusted slightly in the second quarter. The allocation of chemicals, electronics, and biomedicine has increased, and pharmaceuticals and consumer products are still optimistic.
Judging from the top ten major stocks, in the second quarter, the Bank of China Healthcare Flexible Allocation Hybrid Fund increased positions in Yunnan Baiyao, Nanwei Medical, Tigermed, WuXi AppTec and Dashenlin. Livzon Group also ranked No. 2 in the second quarter. Top ten heavyweight stocks. Among the top ten heavy holdings in the first quarter, Hengrui Pharmaceuticals, Fosun Pharmaceuticals, Zhifei Biological, and Renfu Pharmaceutical were all reduced. Zhifei Biological and Renfu Pharmaceutical both withdrew from the top ten heavy holdings. The fund manager Liu Xiao pointed out that with the effective control of the epidemic, the economy has recovered steadily, and the offline service industries and manufacturing industries that have been affected after the outbreak have recovered rapidly. The prosperity of the export-oriented industry has further improved, the biotechnology industry has accelerated its development, and its holdings focus on leading industries such as innovative drugs, CRO/CDMO, innovative surgical equipment consumables, diagnostics, vaccines, pharmacies, Chinese medicine consumer products, and medical services that have improved mid- and long-term competitiveness. . In addition, due to the rise of cell gene therapy and other fields, attention is paid to the rise of the domestic life technology industry supply chain.
The top ten major stocks in the second quarter of the Hengyue core selection of Hengyue Fund focus on energy, technology, medical and health. In the second quarter, the fund added new holdings such as CATL, JA Solar, Fuman Electronics, and Li Ning, while Kweichow Moutai and CDF, etc., which were heavily held in the previous period, moved out of the top ten heavy holdings. Gao Nan, the fund manager, said that the current slow pace of repairing consumption and manufacturing investment has become a weak link in domestic demand. “However, in the economic structure, the industry trend based on consumption upgrades and technological advancement is still continuing. There are still many opportunities for high-quality growth in related domestic demand industries. The corresponding structural opportunities are what we value. We will continue to pay attention. Among these high-prosperity sub-tracks that are less related to the economic cycle, companies that have sustained high-quality growth in profitability.”
.