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nginx/1.6.1Financial Fund July 8 News Morgan Stanley Huaxin Health Industry Hybrid Securities Investment Fund (Abbreviation: Morgan Stanley Huaxin Health Industry Mixed C, code 014030) Net Value on July 7 It fell 2.08%, attracting investors' attention. The current net value of fund unit is 3.0630 yuan, and the cumulative net value is 3.0630 yuan.
Morgan Stanley Huaxin Health Industry Hybrid C Fund has gained -10.44% since its establishment, -6.64% this year, and 18.22% in the past month.
This fund has distributed 0 dividends since its establishment, with a cumulative dividend amount of 0 billion yuan. The fund is currently open for subscription. The fund manager of
is Wang Dapeng. He has managed the fund since October 28, 2021, with a return of -8.54% during his tenure. The latest fund periodic report of
shows that the fund holds heavy positions in Zhifei Biotechnology ( holds proportion of 9.74%), WuXi AppTec (position proportion of 8.95%), Medicilon (position proportion of 8.59%), Pharmaron Huacheng (position ratio 8.00%), Tigermed (position ratio 7.80%), Asymchem (position ratio 6.34%), Mindray Medical (position ratio 5.35%), Jiuzhou Pharmaceutical (position ratio 4.80%), Zhaoyan New Drug (position ratio 4.66%), Porton shares (position ratio 4.59%).
Fund investment strategy and operation analysis during the reporting period
Affected by factors such as the Federal Reserve's interest rate hike , the conflict between Russia and Ukraine, and the worsening of the domestic epidemic, the A-share market fell significantly in the first quarter of 2022. Shanghai Composite Index -10.65%, CSI 300 Index -14.53%, GEM Index -19.96%. The industry differentiation is obvious, with the cyclical sector performing better and the growth and consumption sectors performing worse. CITIC Coal, Real Estate, and Banking rose 23.43%, 6.2%, and 1.92% respectively; CITIC Automobile, National Defense, and Electronics fell 21.52%, 23.48%, and 25.17% respectively.
The fund’s positions at the beginning of the year were concentrated in CXO, medical equipment, vaccines, etc. During the market decline, the Fund reduced its holdings of some medical device stocks, and comprehensively considered factors such as industry prosperity, valuation performance, first quarter report outlook, and the impact of the epidemic, and increased its holdings of CXOs and vaccines that were oversold. Related stocks in high-prosperity industries have better grasped the periodic small rebound in the pharmaceutical sector, making the retracement of this fund in the first quarter slightly better than the average level of similar pharmaceutical funds.
The Central Economic Work Conference set the tone to stabilize growth and correct policy deviations. Specific policies will be gradually implemented to underpin economic growth. The Financial Commission of the State Council held a special meeting to support the capital market. It is expected that liquidity will remain loose, and there is the possibility of further increases. The domestic epidemic situation has worsened recently, and the market is worried that the domestic economy is under pressure. However, on the one hand, the government will take active measures to offset the negative impact of the epidemic. On the other hand, we believe that with the government's strong prevention and control policies, the epidemic can be effectively controlled, and the annual economic growth target of 5.5% is still expected to be achieved. Since the beginning of the year, the stock prices of high-quality companies have adjusted significantly, their valuations have been digested, and they already have allocation value.
From the perspective of the pharmaceutical sector, it is expected that after a long period of adjustment, the valuation performance of the sector has become more outstanding, and the pessimism caused by factors such as centralized procurement policies and overseas sanctions has been digested. Judging from the January-February operating conditions and first quarter report forecasts disclosed by some leading pharmaceutical companies, the industry still maintains high prosperity and is expected to continue to boost the positive sentiment in the pharmaceutical sector. Since the beginning of the year, the "Government Work Report" and " "14th Five-Year Plan" Pharmaceutical Industry Development Plan " have supported the stable and healthy development of the pharmaceutical industry. We are optimistic about the long-term investment opportunities in the pharmaceutical sector. The fund plans to maintain a high position and the investment direction remains Focus on CXO, vaccines, medical devices and other subdivisions. After a long period of adjustment, CXO companies have outstanding valuation performance-price ratio, while the demand for downstream innovation is still strong, and the industry continues to be booming; HPV vaccine and other vaccines continue to increase in volume, and the new coronavirus sequential vaccination and mutant vaccine research and development can also contribute to the increase, the vaccine industry The development prospects are good; high-end medical devices and scientific research reagents with independent and controllable attributes are also the direction we are actively paying attention to.
Fund performance during the reporting period
