The head of the fund in the fourth quarter position interpretation, the direction of the position is almost the same, Hong Kong stocks become the configuration of the harbor


These days, the fund’s fourth quarter report began to come out, the direction of the allocation of major fund managers began to gradually clear.Today, the fund gentleman to sort out the market on the head of the fund’s position in the fourth quarter action, to see their transfer position action.1. Yi Fangda zhang Kun:As the first 100 billion active equity fund manager in China, Yi Fangda Zhang Kun’s scale has shrunk from the previous quarter. By the end of 2021, zhang Kun’s management scale reached 101.936 billion yuan, which was reduced by 3.813 billion yuan compared with 105.749 billion yuan at the end of the last quarter. And from the perspective of the latest positions,Zhang Kun in the management of the four funds in the fourth quarter of positions have been improved, positions are in more than 94%, maintain a high position operation.Specifically, in the fourth quarter, the largest e-Funda Blue Chip Select increased the allocation of technology and other industries, while reducing the allocation of finance, medicine and other industries.Individual stocks, increased holdings of Tencent Holdings, which jumped from the 8th position at the end of the previous quarter to the 1st position, accounting for 10.12% of the fund assets, other positions are hikvision, Yili shares.Reduction of liquor sector: Luzhou Laojiao, Kweichow Moutai, Wuliangye, Yanghe shares, respectively, luzhou Laojiao holdings reduced by 16.93%, down to the third position.Kweichow Moutai was reduced by 580,000 shares, becoming the fourth largest position.The direction of the other three funds is probably the same, basically increased the allocation of technology, consumption and other industries in the fourth quarter, and reduced the allocation of financial, real estate and other industries.For example, efunda Asia Select (QDII) reduced the allocation of finance, real estate and other industries. China’s property insurance and Vanke companies withdrew from the list of top 10 stocks, and Alibaba and Tingyi were newly added to the list of top 10 stocks.2, Gf Liu Gesong, pure adjustment of the new energy position structure to grow the world of GF Fund Liu Gesong in the fourth quarter of the action is not so much, the whole position of the organization for a small adjustment, compared with the three quarterly reports, GF small cap growth in the fourth quarter of the top ten heavy stocks did not change,They are JA Technology, Longji Co., LTD., Xiaokang Co., LTD., Longbai Group, Shengbang Co., LTD., Yiwei Lithium Energy, Kangtai Biological, BOE A, Autonavi Infrared, jianfan Biological.Among them, it reduced its holdings of Longji shares and Yiwei Lithium energy, and increased its holdings of JA Technology and Xiaokang Shares. Among them, JA Technology jumped from the ninth largest position to the first, increasing its holdings by 3,436,900 shares.Liu gesong believes the style divide will likely continue in 2022.Established the comparative advantage of the world’s leading manufacturing company, its leadership of entrepreneurs, industry gathered under advanced manufacturing capability factors such as building “moat” continues to widen, the future in the photovoltaic (pv), power battery, energy storage, panel, chemical new material, automobile and auto parts, such as high-end equipment direction more world class companies,The fund’s asset allocation remains dominated by these directions.3. Ruiyuan Fund maintained a high position and began to reverse the trend in the fourth quarter. Two representative products of Ruiyuan Fund maintained a high position in the fourth quarter.Among them, Ruiyuan growth value mix achieved earnings of 6.93% in the fourth quarter of last year;Ruiyuan balanced value three – year holding mix achieved a gain of 3.68% in the fourth quarter of last year.Fu Pengbo’s representative work ruiyuan Growth value mixed fund, as of the end of the fourth quarter of 2021, the fund’s management scale is 32.688 billion yuan, compared with the end of the third quarter of last year, an increase of 7.17%, lixun Precision, Oriental Yuhong, Weining Health, Large laser, Leader intelligence and other stocks were reduced, lixun Precision was reduced by 8.9697 million shares.Wanhua Chemical and Geely Auto were overweight.Xinzhou Bang exited ruiyuan’s top ten growth value stocks, and China National Porcelain Material entered its top ten stocks, and in January this year, Fu Pengbo continued to add China National porcelain material holdings, compared with the end of the fourth quarter and another 100 thousand shares.It is worth mentioning that SAN ‘an Optoelectronics has become the largest heavy position stock. The company’s first purchase was in the top ten heavy position stocks of Ruiyuan’s growth value in the second quarter. Since then, it has been continuously buying, and the market value held at the end of the period is as high as 2.824 billion yuan, an increase of more than 10% compared with the end of the third quarter.It can be said that the capital scale of Ruiyuan growth value mixed fund is more than 30 billion, which is about 8% of the total in SAN ‘an Photoelectric alone.Zhao Feng in charge of ruiyuan balanced value fund, the new energy began to reduce positions, add positions of environmental protection, chemical plate.By the end of the fourth quarter, Ruiyuan’s balanced value stock position reached 91.94%, up 2.84% compared with the end of the third quarter.The first big position is China Mobile, although some reduction, but not much, on the contrary, other Hong Kong stocks to adjust.Xiaomi group withdrew from the top ten stocks and added wanhua Chemical and Shunyu Optical Technology, which increased their holdings by 18.72% and 11.23% respectively compared with the third quarter.Weiming Environmental Protection New Ruiyuan equilibrium value of the top ten heavy position stocks, since the second quarter of 2021 continued in the company’s top ten tradable shareholders series, after several consecutive quarters of increasing positions, holding 181,700 shares in the fourth quarter, holding market value of more than 660 million yuan, compared with the end of the third quarter held 12,000 shares.4. Wang Chong, boCOM Fund, focuses on Allocation of Hong Kong stocks. Wang Chong, a fund manager of ten billion yuan, has a total asset scale of 26.653 billion yuan.In the fourth quarter, Wang Chong increased the allocation of Hong Kong stocks. In the fourth quarter of 2021, his bank of Communications Ruifeng will reduce the holdings of some stocks in the food and beverage, computer, property and chemical industries, adjust the positions of related stocks in the software and Internet industry, and increase the positions of electronics and medicine.Hong Kong shares poly property, kuaishou -W and other shares obtained a large increase.And the other two funds in the fourth quarter of the top ten positions are new into superstar Technology, Zhuosheng Micro, Three ring Group, Unigroup Guowei, etc., looking forward to the future, Wang Chong believes that the extension of investment perspective, the current shock stage of A shares and Hong Kong stocks continue to decline, may provide A very good layout opportunities for medium – and long-term investors.He said that he would continue to adhere to the ability circle, in a wide range of manufacturing and service sectors in the next three or four years to select companies with strong competitiveness, good competition pattern, reasonable or low valuation of high-quality stocks to do the medium-term layout.QiuDongRong heptyl fund, in 5, bullish on stocks of high-quality assets value stocks price advantage to attract the attention of the many funds, last year’s excellent performance in QiuDongRong heptyl fund is also so, run pilot heptyl value in Hong Kong in October 2021, after the modification of the fund contract start bottom stock assets, the same is true in other funds.Since the beginning of the year, the returns of Dongrong Yau fund ranked in the forefront. As of 18th, the annual growth rate of the annual net value held by Dongrong Yau and The annual net value held by Dongrong Yau also reached 6.98% and 6.23% respectively, ranking second and third respectively among 2670 similar funds.Specifically, the value of the pilot fund, Yankuang Energy, China offshore oil and other Hong Kong stocks were newly into the heavy warehouse, gemdi also entered the fund for the first time in the heavy warehouse ranks, and the Rural Bank, Changshu Bank continue to hold.Another fund, Zhonggeng Value Quality, has six Hong Kong stocks in its top 10 holdings a year, including Yanmine Energy, China Offshore Oil, China Overseas Development, China Hongqiao, China Coal Energy and China Everbright Bank.In the quarterly report, the fund manager said that the market value of Hong Kong stocks and some Internet stocks.First, the value stocks of Hong Kong stocks are mostly leading enterprises or state-owned enterprises, which have very high asset quality and can best withstand fundamental pressure, so there is less risk.For example, leading companies in telecommunications, real estate, banking, insurance, energy and coal are all the best and most powerful forces in China’s economy.The Internet business of Hong Kong stocks is deeply embedded in China’s economy, with a clear pattern but still solid core business barriers.Second, the price is lower or the price cleared thoroughly.The value shares of Hong Kong shares are very cheap, but the value shares of Hong Kong shares are cheaper, and the corresponding dividend yield remains very high.Hong Kong stock Internet stocks under various pressures gathered, valuation fell to the undervalued level;Third, the release of risks on the transaction is relatively sufficient, the transaction is not crowded.With the gradual easing of fundamentals, regulatory levels and liquidity pressure, Hong Kong stocks deserve attention.

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