Consumer industry led the growth of shares A
From the beginning of this year, A-market shares came out of the roller coaster market, and the consumer sector brought profits and became the subject of an increase in public funds in the first quarter. Despite the volatility in the equity market, the market is still generally optimistic about the future trend in the consumer sector. Recently, a new fund focused on the consumer industry, the Bank of China Consumer Energy Hybrid Fund, has been launched and investors may want to pay attention to this.
According to Wind data, from May 9, 2019. Among the top 10 sectors of the first-class CITIC industry, the consumer industry made up seven places, including agriculture, forestry, animal husbandry, fishery, food and drink and household appliances, respectively 44.36%, 38 , 86% and 34.24%. Profits in the top three, hard winShanghai and Shenzhen 300 Index19.57% increase over the same period.
Market institutions generally reflect their optimism about the consumer industry.Haitong SecuritiesThe data shows that at the end of the first quarter the fund's clumsiness was concentrated in the large consumer sector, and the market value of the fund increased sharply by 4.8 points. Up to 11.1%, the highest since 2013, the latter has increased by 1.9 percentage points to 4.7%, and has also set a new level since 2010.
In connection with the current trend in the consumer industry, Qian Yafeng, the manager of the BOC Consumer Energy fund, believes that with the constant growth of the country and the continuous implementation of consumption promotion policy consumption of this carriage has gradually become the pillar of the economy, and the future market value of relevant industry sectors has increased. The space is huge. According to the National Bureau of Statistics, the contribution rate of consumer spending to annual GDP growth in 2018 is 76%, and consumption was the main driver of economic growth for five consecutive years. However, the consumption of stock exchange value A was only about 24%, there is a large field for growth. Future medical, entertainment and information needs will be even greater.
As a thematic investment fund, the share of the securities assets of listed companies in BOC Consumers' investments related to consumption is not less than 80% of the assets of non-cash funds. The fund will select low-value assets with a high margin on blue chips as underlying assets and will select growing stocks in the consumer sector to seek excessive profits. Among them, suitable high-quality listed companies, such as food and beverages, innovative pharmaceutical drugs, information consumption, education and sport, and other emerging service industries, may become potential prospects for the selection of growth stocks.
Behind BOC enthusiasm is a professional investment research team with a strong BOC fund. About half of investment researchers have investment or research experience in relevant consumer sectors, and the research team covers all consumer products. In this season's awards season, BOC Fund won three heavy awards from the Golden Bull Fund Management Company, Gold Fund · TOP Company and 2018 Top Star Fund Companies, and received three main authoritative awards. So far, BOC Fund and its products as well as fund managers have won over 80 awards in such industry sectors as the Golden Bull Award, the Gold Fund Award, the Star Fund Award, the Morning Star Award and the Yinghua Award, among which the company has over 20 awards.
Despite the recent significant correction on the A stock market, the Bank of China Fund believes that the valuation of A shares is still at a relatively low level in history and remains optimistic with respect to A shares in the medium and long term. On the one hand, the Chinese economy is expected to stabilize during the year, combined with economic restructuring and improvement of the industrial structure, or promote bottom-up results of listed companies, on the other hand the capital market policy represented by the science and technology council, the wealth of residents on the market housing. Gradual migration to the stock market, foreign investments to increase the weight of A-share allocation, etc. They will continue to support the market risk appetite. The Bank of China recommends that during the transformation process based on valuation-based profits, it should pay attention to the industry and inventories that were fully disclosed in the quarterly report and the expected improvement in the second and third quarters.
Editor-in-Chief: Wei Yu