Which of the 34 fund managers are investing in Hong Kong stocks?

Learn and earn, everyone, here is "Your Editor-in-Chief's Investment Goods" (Tiktok account). Welcome to this week's live Q&A.

1. Dumb:

Hello everyone! I bought Niu Jibao, and I would like to ask the editor-in-chief to analyze the funds in Niu Jibao’s portfolio, just like analyzing the products of 34 fund managers, so that I can better understand what is going on when buying products, and can better understand and persist in investing. . Thank you so much everyone, you've worked hard!

[Reply]

Take the all-stock portfolio as an example,

balance: Invesco Great Wall Environmental Protection Advantage Stock (001975) - Yang Ruiwen; ICBC Sports Industry Stock A (001714) - Yuan Fang; E Fund Environmental Protection Theme Mix (001856) - Qi He; Southern Tianyuan New Industry Stock LOF (160133) - Jiang Qiujie; Xingquan Business Model Optimal Mix LOF (163415) - Housewarming; Yinhua Small and Medium Cap Mix (180031) - Li Xiaoxing; Guofu Small and Medium Cap Stock (450009) - Zhao Xiaodong; Cycle: Rongtong Industry Boom Mix C (009277) - Zou Xi;

+ Hong Kong Stock : Fuguo Shanghai, Hong Kong and Shenzhen Industry Select Mix A (005354) - Wang Menghai.

are generally balanced. Yang Ruiwen, Yuan Fang, Qiao Qian, Li Xiaoxing, etc. are nearly half of the 34 fund managers. Zou Xi is good at cyclical stocks, and Wang Menghai is very good in Shanghai, Hong Kong and Shenzhen. Nice fund manager.

In addition, several others have their own characteristics. Jiang Qiujie uses selected individual stocks as a source of excess returns, prefers growth stocks as a whole, and has a relatively balanced industry allocation; Zhao Xiaodong, as an experienced value investor,Pay attention to the mining of "good companies", and follow the "five-dimensional stock selection method" for individual stocks, that is, starting from the five aspects of the company's management team, business growth space, valuation, sustainable operation ability and risk, screen investment targets, select Individual stocks are the source of their excess returns; Qi He’s investment has four main characteristics: first, it attaches great importance to the competitive advantages of enterprises, usually companies with strong profitability and ROE; second, it pays attention to a high degree of internationalization , looking for a good company that is expected to become a world-class leader; thirdly, the fund manager invests on the left side, does not like to be on the right side, and often grinds at the bottom of the valuation for a period of time; finally, Qi He chooses to focus on what he is good at , Familiar with the manufacturing industry, and centralized holdings are not scattered.

In short, if you are buying a combination of strategies like Niu Jibao, you don't need to study the specific Niu Ji, because this is what a good buy researcher should do. What you have to do is to identify whether Haobu has this professional ability and whether it is worthy of your trust, and then buy and hold. The 34 fund managers are just a kind of charitable sorting out by our business school team. If they can be recognized by everyone, then Niu Jibao is a combination of financial products and strategies made by professionals from the real research department. , It is good to buy the bottom of the press box, and to do something that has been well-known for more than ten years, you know.

2. Crane:

Teacher, can I buy Li Yuanbo's technology base now? Or is it more suitable to buy balanced Xingquan Yiyi, E Fund blue-chip, and Invesco Great Wall with excellent growth at this stage? Is there a semiconductor index fund recommendation? Thank you

[Reply]

Li Yuanbo's Fuguo Innovation Technology Mix (002692) is more inclined to the direction of technological growth and can be deployed. Xingquan Yiyi and E Fund Blue Chip are all star products with a good reputation. Invesco Great Wall's blue-chip growth is a bit weak this year, so let's observe its announced positions at the end of the month. The semiconductor index can pay attention to Cathay Pacific CES Semiconductor ETF Link A (008281).

3. Kimi Zhao:

Guizhubian Hello,I have been studying with you for nearly two months, and I have learned a lot of professional knowledge. Joining the VIP WeChat group will receive timely information every day. It is really profitable. I would like to ask you this time. In addition to reducing risks by deploying stocks and bonds in advance, there are other conventional countermeasures. Learn some key disposal measures in advance, and we newbies can deal with them calmly in the future. Hope to get your share, thanks!

[Reply]

recommends three points, one is a more Buddhist approach: try to hold those long-term running funds with an upward long-term trend, and have experience in crossing the bulls and bears, and the historical fluctuations are not so much The big one, so that we can't guess when the bear market will come, then keep holding this kind of fund, even if it encounters a drawdown, it can bear it. Value and balanced funds can be paid attention to, especially those with a longer age.

Second, take profit in batches at a high level, and close when you see it. When the Shanghai Composite Index reaches around 4000, it will gradually clear positions and withdraw. For example, 4000 points are sold for 1/3, 4500 points are sold for 1/3, and 5000 points are sold out. At the same time, stop-loss protection should be done well. When the maximum drawdown of a single fund exceeds 10-20%, the position will be stopped and cleared, so as to avoid the risk of not being able to make up your mind when the bear market comes.

Third, as you said, flexibly adjust products. When the market enters a higher position, gradually adjust to equity-debt balance products, fixed income +, and even pure debt and currency products. There are also such flexible configuration products. For example, China Post New Ideas Flexible Configuration Mix (001224) is such a right-side transaction product, but it is not necessarily effective every time.

The fourth is to adjust the position style, from an economy with a high valuation style to a sector with a low valuation, so as to avoid market adjustments and turn around in a group. At the same time, it is also possible to seize the last compensating sector belt when the style rotates. deterministic returns. In this way, with the total stock holdings unchanged, you can change from high-risk things to low-risk things.

4. A drop in the sea:

Ask Guizhubian,Which fund manager is better at controlling the new energy sector?

Health:

Recommended by the active equity fund of new energy

[Reply]

Refer to the technology in version 3.0 of 34 fund managers Growth category, the last two added. However, it is also reminded that although it is a long-term track, the growth rate of new energy in the past year has been too high, and it is a single-industry fund with high concentration and high risk and volatility. If you invest in these high-volatility products, you should try to buy them in batches whenever possible, or participate through fixed investment, so as to avoid chasing high prices at one time, and at the same time control the position within 20% of equity products.

5. Niuerma:

1) Does the equity-debt balance type need to be configured as a separate category for long-term (at least ten or twenty years)? There are more than 10 funds, not including fund portfolio products.

2) After listening to the live broadcast tonight, the Shanghai-Hong Kong-Shenzhen Fund can also be held for a long time like 110011 without taking profit? If you only pick one, which one is the most recommended for cooking?

3) I purchased 60% of the 007301 position before, but I still want to replace it with 008282. How to do it?

4) Today, the editor said that it is okay to increase the position (core assets) to 80 or 90% before the Spring Festival. Are such high positions possible? Didn't you say 70% earlier?

5) The most important question: Although I see that my income and yield are constantly improving; but in the continuous review, I find that I only buy and sell in the general direction, and the specific operation is still too arbitrary. Therefore, in the new year, I desperately hope to formulate a more detailed investment plan, so that my operations can be governed by rules, not so random, such as when to buy and when to sell. But I don't know how to start, please give me some pointers! ?

[Reply]

Equity and debt balance is a product that reduces both returns and risks.It is suitable for stable people who cannot bear a decline of more than 10%, and at the same time hope to have an annual income of about 10-15%. Not everyone needs to configure. If you can withstand certain fluctuations and can invest for more than ten years at the same time, 34 high-quality equity fund managers are worth holding for a long time, with higher annualized returns, and at the same time, short-term fluctuations and risks can be diluted for a long time.

Shanghai-Hong Kong-Shenzhen funds are the current hot spot, including excellent assets of A shares and Hong Kong stocks, but the first one depends on the investment direction of the product, such as focusing on high-quality growth targets of Hong Kong stocks, and the second depends on funds Whether the manager's management ability is good enough, if these two points are satisfied, such funds can also be held for a long time. A negative example is that if you only invest in the Hang Seng Index at a low valuation, or if the fund manager is short-lived, you cannot hold it for a long time. (For specific funds, please refer to the WeChat tweet on Monday)

Guolian An CSI Semiconductor ETF Link C (007301), Cathay Pacific CES Semiconductor ETF Link C (008282) all charge sales service fees, and there is no subscription or redemption After the fee is paid, just sell the old one and buy a new one, there is no cost at all.

position, 70% is the average level of most people, each person's specific situation is different and can be changed flexibly. If it is a value type and a balanced style type, it doesn’t matter if the position is high, especially if there is a better adjustment in the middle and late January, you can get on the train more. If it is a stock-debt balance class, you can directly hit the full position.

First of all, we must ensure that it is a good asset, whether it is 34 fund managers or a combination of various strategies provided by good professionals, and then buy as soon as possible and as cheap as possible (every major market adjustment) , the adjustment of the fund itself, such as falling 5%, 10%, 15%, 20% is getting cheaper and cheaper), and then keep these good assets, look less and move less, this is the most simple and effective method. In the long run, you can also get the most benefit. In fact, investing to a certain extent is not a competition of specific methods and tricks, but a kind of "no trick wins" and rises to a philosophical situation of "governance by inaction". Only when investment is "quiet" can it "reach far". "! Immersed in short-term volatility, it is difficult to make big and long-term money.

6. Taishan:

Is stock selection the same as base selection

[Reply]

are completely different. . Stock picking requires you to have strong professional skills, which may require you to understand finance, sales, marketing, R&D, management, etc., or to obtain real industry and market insights through research, as well as certain macro analysis capabilities. To choose a fund, you just need to find the right fund company and fund manager to see if they are professional, have a good reputation, and are consistent with their words and deeds. It is much simpler.

7. Tao ~ Tao:

It is said that funds with high volatility are suitable for fixed investment. . Can Nuoan grow up?

[Reply]

The first is to invest in a long-term upward trend; Lion's volatility is large enough, but whether the trend can go up for a long time needs to be questioned. The question is, first, whether the semiconductor sector can continue to rise, and second, whether there is a style drift of fund managers. If the semiconductor sector continues to rise and the style of the fund has not drifted, it can be considered as a fixed investment target. If the latter cannot be guaranteed, then investing in the semiconductor index is also a more stable choice.

8. Fang Fang:

Hello teacher, China Universal Mixed income of 32% in the consumer industry can be exchanged for Shanghai, Hong Kong and Shenzhen funds

[Reply]

China Universal Consumption Industry Mix (000083) is a long-term theme fund focusing on the consumption track.Products second only to Brother Kun can be held as core assets for a long time.

(Data source: Haomai Fund Network, interval 2013.5.3--2021.1.18)

Shanghai-Hong Kong-Shenzhen Fund can be used as a satellite asset allocation this year. But the two are not interchangeable.

9. Lily:

Is it better to replace Zhang Kun's E Fund mid and small caps with E Fund blue chips?

[Reply]

E Fund's mid and small caps are liquor + optional consumption, and E Fund's blue chips are liquor + Hong Kong stock growth stocks. If you compare the two, Hong Kong stocks are widely optimistic this year, and there is room for Hong Kong stock growth stocks Slightly better than the optional consumption of the mainland, you can change.

10. Tang Songyuan:

Now to invest in Hong Kong stocks, such as Guofu Great China, is it better to make a fixed investment or a lump sum buy? What proportion of the total assets of Hong Kong stock funds is better?

Wu:

Hong Kong stock active fund recommendation

Xu Wei:

I want to buy a Hong Kong stock fund, please help me to see how this fund is, 007455

ABC Lu Rongzheng:

Hong Kong stocks? Which intervention is better to choose?

Raindrop Stone Wear :

Guizhubian,Hello, please show me which one is better to buy Shanghai-Hong Kong-Shenzhen Fund 001875 or 005354, I want more Hong Kong stocks

Summer:

High-quality funds that invest in Hong Kong stocks, please provide me

No traces of lost water:

Is the current Hong Kong stock Hang Seng index suitable for regular investment?

Datong:

I heard that Hong Kong stocks are undervalued. Want to buy Hong Kong stock funds, please recommend

Yang Weimin:

Please tell me the difference between Shanghai, Hong Kong and Shenzhen 513550 and Hang Seng 510900

Angry weasel:

I feel that Shanghai, Hong Kong and Shenzhen funds are on fire this year. Can you recommend a few Shanghai-Hong Kong-Shenzhen funds that can enjoy the most income from the incremental capital brought by the southward capital?

Peace of Mind:

I hope Mr. Gui recommends some funds to invest in Hong Kong stocks, thank you!

[Reply]

Hong Kong stock-themed fund, the public account tweet on Monday has been very detailed, you can go back and listen to it. This year, Hong Kong stocks are more optimistic about the market and can be used as satellite asset allocation, accounting for about 20%. The specific investment method, now that Hong Kong stocks are just rising, can be bought at one time; prudent scheduled investment participation.

The two investment directions of Hong Kong stocks have also been said many times. One is the investment strategy of valuation repair, buying Hong Kong stocks Hang Seng Index, China Enterprise Index, Bank Index and other undervalued varieties.Gain the benefits of increased valuation; the second is to deploy the growth theme of Hong Kong stocks, and participate through QDII funds, Shanghai-Hong Kong-Shenzhen funds, and long-distance bull bases that can invest in Hong Kong stocks. In particular, many of our 34 fund managers have products that can invest in Hong Kong stocks, such as Kun Ge's E Fund Blue Chip Select Mix (005827), Xie Zhiyu's Xingquan Heyi Mix (LOF) A (163417), Qu Yang Qianhai Open Source Shanghai-Hong Kong-Shenzhen Advantage Selection (001875), Yuan Fang’s ICBC Yuanxing Mix (009076), Hu Xinwei’s Tianfu Consumption Upgrade Mix (006408), Liu Yanchun’s Invesco Great Wall blue-chip growth mix (007412) , Zhou Weiwen's China-Europe Ingenuity Two-Year Holding Period Mixed A (006529), Luo Shuai's Southern Domestic Demand Growth Two-Year Stock A (008854)/Southern Zhirui Mixed A (007733), Lei Ming's Huitianfu Classic Growth Scheduled Mixed (008854) 501065), Chen Yifeng's Anxin Value Return for three years holding Mixed A (008954), Zhou Yingbo's China-Europe Vision two-year fixed opening Mixed A (166025), Li Xiaoxing's Yinhua Xinyi Flexible Configuration Mix (005794), Sun Wei's Minsheng Canadian Silver Emerging Growth Mix (006058), etc.

Questions about several Hong Kong stock products:

Crowes Great China Selected Mixed QDII (000934) is owned by Xu Cheng, investing in Hong Kong stocks, Taiwan stocks, US stocks and other Greater China companies, Xu Cheng is also very good overseas Allocated fund managers;

Wells Fargo Blue Chip Selected Stocks QDII (007455) is a QDII fund managed by Zhang Feng and Ning Jun. It is also dominated by overseas Chinese stocks, and its performance is fairly stable;

Qu Yang's Qianhai Open Source Shanghai-Hong Kong-Shenzhen Advantage Selection (001875) and Wang Menghai's Fuguo Shanghai-Hong Kong-Shenzhen Industry Selection Mixed A (005354) are all star funds. As of the end of the third quarter of 2020, Hong Kong stock positions were 38.5% and 74.68%, respectively. The latter one with more Hong Kong stocks .

Huatai-PineBridge CSI Hong Kong Stock Connect 50 ETF (513550) and E Fund Hang Seng China Enterprises ETF (510900) are two ETFs that track different indices. The CSI Hong Kong Stock Connect 50 Index selects the largest 50 companies within the scope of Hong Kong Stock Connect. As a sample stock,The Hang Seng China Enterprises Index (abbreviation: HSCEI or H-Share Index) reflects the larger H-shares listed on the Hong Kong Stock Exchange .

11. lulu:

Currently holds some index funds: CSI 300, CSI Baijiu, CSI Internet, CSI 500, 500 Low Volatility, CSI Bank, etc. All these funds need to be redeemed Switch back to a balanced active fund?

[Reply]

There are either undervalued industry bases, or overvalued industries and broad bases. In the middle and late stages of the bull market, it is more risky to continue to hold. It can be adjusted to a long-distance running fund of value and balance, which is more worry-free and labor-saving, and it is also easier to cross the bulls and bears, and can accumulate higher returns in the long run.

12. Pengfei:

In the current fund allocation, 001679, 008227 are each 20%, 001552 is 2.50%, 004851 is 1.5%, 000991 is 10%, 008528 is 0.5%, and 0.50% cash left, is the configuration suitable?

[Reply]

Medicine: GF Healthcare Stock A (004851) 15%

Value Blue Chip: Qianhai Open Source Scarce Assets Mix A (001679) 20%

Technology Growth: Baoying Research Select Mixed A (008227) 20%, ICBC Strategic Transformation Stock (000991) 10%, Huatai Pineapple Quality Growth Mix (008528) 5%

Industry theme: Tianhong China Securities Insurance Index A (001552) 25%

On the whole,Technology and growth categories account for too much, and in addition to Li Jin's selection of Baoying research, other products have more or less problems. Balanced funds do not have it and need to be considered. The industry satellite base is too heavy in a single securities and insurance industry, and the risk is relatively high.

13. Zeng Zeng:

Questions: 1. Is the fund compounded daily? If the average annual income is 20%, the funds can be doubled for 5 consecutive years? 2, 1 million funds are best to hold 5-10 funds. What if 200W funds? 10-20 sticks?

[Reply]

Fund is compound interest, the income of each day is the principal the next day. The average annual return is 20%, for 5 consecutive years, the rate of return is 150%; for 7 years, about 250%; for 10 years, about 500%; for 15 years, about 1500%.

Funds below 3 million, equity public funds generally hold about 10, and at most 15 are almost the same. If the amount of funds is large, you can consider adding high-quality head private placement products.

14. Wind in the Cloud:

Hello teacher! I want to exchange E Fund's consumer industry stocks for E Fund blue chips. Is this point ok now? Is Niu Jibao a one-off buy or a fixed investment? Thanks!

[Reply]

E Fund consumes too much liquor, so you can exchange E Fund blue chips directly. If Niu Jibao is a low-to-medium-risk portfolio below the balance type, it can be done at one time; if it is a medium-to-high-risk portfolio of growth, aggressiveness, and all stocks, it can be bought with a bottom position + an increase in dips, or a continuous fixed investment.

15. Changle Weiyang:

1) Good editor-in-chief Gui! I want to buy a Hong Kong stock fund,E Fund Blue Chip, Xingquan Heyi, Qu Yang Qianhai Kaiyuan Shanghai-Hong Kong-Shenzhen, Xu Cheng's Guofu Shanghai-Hong Kong-Shenzhen and Niu Jibaoli's Fuguo Shanghai-Hong Kong-Shenzhen Fund, which one should you choose? Or is there any other better recommendation?

2) The fund of ICBC Credit Suisse Financial Real Estate is currently making a profit of 11 points. It has been held since the beginning of 2020. It feels the same as bancassurance. There is a peak in about half a year or three months. Is this suitable for long-term holding? Should the yield of 10 points run away? And then set to vote?

3) The flexible configuration of Nuo An and Xin (also managed by Manager Cai), I bought it because its scale is smaller than that of Nuo An, and I have taken it for more than half a year. It should be 11 points today. I don't know if it can be cleared. ? At first, I thought about unpacking or selling it with 6 points of profit, but some people said that technology is about to rise recently, so he hesitated!

[Reply]

E Fund Blue Chip (40.76% of Hong Kong stocks), Xingquan Heyi (24.69% of Hong Kong stocks), Qu Yang Qianhai Kaiyuan Shanghai, Hong Kong and Shenzhen (38.5% of Hong Kong stocks), Xu Cheng's Guofu Shanghai, Hong Kong and Shenzhen (Hong Kong stocks 42.9%), Niu Jibaoli Wang Menghai's Fuguo Shanghai-Hong Kong-Shenzhen Fund (74.68% Hong Kong stocks), it depends on which fund manager you like, and whether the proportion of Hong Kong stocks is large or small. All are good products.

ICBC Financial Real Estate Mixed A (000251) holds 66% of financial stocks (mainly banks) and 10% of real estate stocks, which are relatively undervalued in the past two years. It is suitable for prudent investors and can be held for a long time to obtain relatively stable returns from low valuation repairs.

(Data source: Haomai Fund.com, interval 2013.8.26---2021.1.18)

Neo An and Xin He Neo An are growing at the same level. The rise of the sector, but this kind of high concentration and high volatility fund still needs to reduce its holdings and gradually withdraw. I would rather go to the semiconductor industry index, or hold a semiconductor technology multi-fund,More reliable in the long run.

16. Tony@Professional Japanese Hairstyle:

Hello, teacher! In December, the index base was changed to the following combination

30% Value China Universal Blue Chip Solid, 30% Balanced Xingquan Herun, 20% Consumer E Fund Blue Chip Selection, 10% Technology Xinda Aoyin New Energy, 10% Medicine CEIBS Healthcare

The above funds plus one ICBC cultural and sports industry have a total of 6 funds, with a long-term average monthly investment, a target of 10 years, and an annualized target of 15%. Do single-track funds for consumption, medicine, and technology need to be balanced regularly? ?

[Reply]

Yes, very good, need to check regularly, if it is still on our 34-person list, keep it.

17. Hippo:

1) I previously invested in some index funds with low valuations, such as dividend index, Hong Kong stocks, etc., according to the valuation repair logic. According to the low valuation trap mentioned in the last live broadcast of the editor-in-chief, can it be converted into Niu Jibao?

2) How can I inquire about the Hong Kong stock position of a Shanghai-Hong Kong-Shenzhen Fund or QQII Fund, such as Guofu Shanghai-Hong Kong-Shenzhen Growth Select (001605)?

3) Recently, a brokerage has launched a grid trading strategy, placing orders under conditions and intelligent trading. What kind of investment target is this strategy suitable for? How about the yield?

[Reply]

There is nothing wrong with a low valuation, and the Qianlong plan is also a low valuation. If you like this type of investment and your risk appetite is medium to low, you can always hold it and earn a low valuation to fix it Money. Niu Jibao is a medium and high risk equity portfolio. Although the returns are more objective, the risks and fluctuations are also greater. It is suitable for medium and high risk investors.You need to see if it matches your risk appetite.

The first is to look at some professional software, we are all wind charging software; the second is the fund's holdings at the end of the most recent quarter, looking at the holding ratio of Hong Kong stocks, but the quarterly report is incomplete, semi-annual report and annual report will be held Relatively complete. Our public account tweets on Monday also summarized many Hong Kong stock funds, and Hong Kong stock positions were written.

As for grid trading, in a volatile market, some people like to engage in high volatility products. In essence, it is to establish a quantitative standard to buy low and sell high. Fund investment I do not recommend to be so complicated, and it is not something that ordinary people can understand clearly. It is better to hold a good fund for a long time and hold it patiently in order to maximize the return.

19. Zhuzhu:

Zhang Qinghua's E Fund has two fund managers, and some of his other products also have two managers. In the past, teachers said that funds should be managed by one person, then Is there anything wrong with Zhang Qinghua's foundation?

[Reply]

Generally, such secondary debt or partial debt hybrid funds are matched by two fund managers, one focusing on debt and one focusing on stocks. Zhang Qinghua originally focused on the debt side, while Lin Sen was partial to equity. It's just that in recent years, Zhang Qinghua has contracted stocks and bonds, and he has become more and more partial to stocks. Products are managed by one person.

In addition, sometimes the fund company considers bringing new people, the existing fund manager will resign, and the star fund manager's consideration, there will also be several fund managers co-managing situation, or specific questions. Look specifically.

20. Contentment:

Teacher: I bought CITIC's asset management products three years ago, 900010 CITIC Excellence and 900089 CITIC Dividend,The income is alright, but the redemption fee is calculated by deducting 20% ​​over 6%. The higher the fee, the higher the fee. Can I redeem for 34 fund managers?

[Reply]

Asset management products are equivalent to private equity products, or like the floating management fees of public funds, and they will be distributed to the platform when they make money. But if you make money just because the market is good, and you have to share it with others, it would be unfair.

21. Carpe Diem:

now has 200,000 in hand, I don't know if it is appropriate to enter now. How to buy a fund now?

or buy when it falls?

[Reply]

As the live broadcast said, focus on value blue-chip, balanced style, and there is no timing requirement. 200,000, you can configure 2-3 fixed income products (if your risk appetite is high, you can also balance stocks and debts), 3-5 value blue-chip and balanced style funds, refer to the red part of 34 fund managers version 3.0.

22. Shi Lijuan:

What is the outlook for the military industry sector

?? Read???:

Is this point suitable for starting the military industry?

Remember to keep calm:

Can the military industry still hold for a long time? The military industry has gone up and down too much, do I need to switch to other funds

[Reply]

The military industry live broadcast has been said a lot,Taking into account the policy factors, coupled with the fact that the performance has indeed increased, it can be used as a satellite asset. As long as the GEM remains strong (as a wind vane), the military union has more room for flexibility. But be sure to control the position within 20%, buy as low as possible, don’t chase the high, only do volatility, hit the high and sell out, don’t make it into a long-term investment, it is not an asset worth holding in the long-term.

(Data source: wind, interval 2006.1.1---2021.1.18)

23. Mingyue:

Does the procurement have little impact on the medical fund, do you need to clear the medical fund?

Chai Furong:

Can the medical base get on the bus? The more you wait, the higher the chance of getting on the bus

kiwi:

Is it better to buy in batches or to make a fixed investment or a shuttle for Gelan's medical fund?

Flowers bloom on the street:

There is another drug collection recently. How long will the impact on innovative drugs last?

[Reply]

The sensitivity of the pharmaceutical sector to volume purchases and the inclusion of social security in negotiations is gradually decreasing, and there will not be as much market impact as the previous few times. As a long-term deterministic track, coupled with the continued epidemic, the export of medical goods and services in China, and the progress of China's innovative drugs, this sector can continue to pay attention.

I was more cautious in the second half of last year, so let's be neutral now. If you hold an actively managed fund such as Gülen's China Europe Medical,It's not a big problem, just keep holding it. If there is an adjustment, it is an opportunity to increase the position.

24. Insurance makes life better:

The market has returned to the vicinity of 3600, is it going to oscillate here for a while? Consumption has been adjusted a bit more recently. Is there still room for further decline? Is it to increase the position, or to lie down and not move? A little worried about continuing to adjust in the short term. Will the medicine return? When is the right time to enter the field?

[Reply]

Regarding the market conditions, the weekly investment minutes are repeated every Monday, and I hope to give everyone more confidence to hold good assets. There is a certain adjustment in consumption now that the proportion of liquor is relatively high, but if you think about it, how much liquor rose last year, this is a normal fluctuation, not even a mid-level adjustment. We have also said about this kind of asset, good assets should be bought at the right price, don't chase the high, especially don't buy it at the high level. Liquor can still rise, but the price/performance ratio will definitely not be too high. The fluctuations this year will be similar to the medicine in the second half of last year. We suggest to relax your vision and focus on high-quality assets such as technology, non-liquor consumption base, value blue chips, balanced style, and Hong Kong stocks.

Medicine has answered the previous question, you can refer to it.

25. Yu Chengwen:

Teacher: How much upside is there in the brokerage sector? There is still a chance to pull up. However, if there is a large-scale pull-up in the first half of the year, similar to the large-scale bull market in 2006-2007 and 2014-2015, it is necessary to pay attention to the risks. (This bull market has a longer time period,But the cumulative increase is not too small)

(Data source: wind, interval 2006.1.1---2021.1.18)

26. Follow the trend:

Hello teacher! Help me see how about Huaan Ankang's flexible configuration mix? Is it possible to buy at this point in the market without timing?

[Reply]

This used to be a partial debt fund, with average returns; it has been transformed into a stock-debt balance product in the past two years, and its return is relative to a "fixed income ++" product. This product is timeless. But a really mediocre product, you can consider the last major category of "equity and debt balance" products among the 34 fund managers.

(Data source: Haomai Fund Network, range 2016.2.1---2021.1.18)

27、Billionaire ZY:

Do you want to take profit in the first half of the year? ? Reserve the second half of the year to call back and increase positions! Are Hong Kong stocks the way of the future? Harvest consumption, and Huitianfu upgrade consumption, which is better? Will there be an article on carbon neutrality? Harvest New Energy New Materials and E Fund Environmental Protection, which one is good? Thank you

[Reply]

For the market price, please refer to the weekly investment minutes, and you will be reminded every week. Hong Kong stocks have said a lot before, so I won't repeat them.

Harvest Consumer Choice Stock A (006604) is liquor consumption + a small amount of Hong Kong stocks,Chang Zhen's product; Tianfu Consumption Upgrade Mix (006408) is food and beverage + more Hong Kong stocks. Hu Xinwei's investable Hong Kong stock products are similar to Kunge's E Fund blue chip, and are more worthy of attention.

Harvest New Energy New Materials Stock A (003984) is Yao Zhipeng's new energy product, and is also a new energy fund manager that can be followed among 34 people; E Fund Environmental Protection Theme Mix (001856) is also a good product, but The proportion of environmental protection is relatively small, and it is also a new constituent fund of our Niu Jibao.

28. Lan Sier:

He holds a heavy position in Galaxy Innovation and Growth, and currently earns 6%. Should he continue to hold or change positions? Is this base suitable for long-term holding

[Reply]

This can refer to the answer to the 15th question. It is similar to Lion's growth, with high concentration on semiconductors, and currently holds some Computer and electronics leading stocks. If you can handle its high volatility, keep holding it as a satellite asset and wait for more to come. The market for technology and growth is likely to continue in the first half of the year. Because of high volatility, it is not suitable for long-term holding.

29. Chris:

Editor-in-chief Gui! Two questions to ask: 1. Gold fluctuates greatly in the short term, and I don't know what to judge about the market outlook. 2. When does the spring turmoil usually end? What is the best way to allocate funds after the end?

[Reply]

Gold I also said in the live broadcast that the growth rate has been too large in the past two years, and now it is relatively high. Considering that the world has gradually stabilized, the policy certainty will be stronger after the new US leader takes office, and the global stock market maintains a high risk appetite, it is difficult for gold to have a greater increase.(The only thing that supports gold now is that the dollar is going down, and the inflation is coming up.)

Continue to see the weekly investment minutes in the market part. Specific configuration suggestions will also be shared every week, so you can continue to pay attention.

30. Daxiong:

Guizhubian Hello, my family has a total deposit of 600,000, and I plan to invest for a long time. Please help me whether the fund allocation is reasonable, thank you,

fixed income plus 100,000

Equity and Debt Balanced Fund 200,000

Balanced Allocation Fund 150,000

Consumer Fund 80,000

New Energy Fund 70,000

Funds bought above are almost all 34 fund managers. And the comprehensive technology base, I think the cost performance is not high, so I didn't buy it! Please help Mr. Gui to see if my configuration is reasonable. Thank you. Will it be too radical? Thank you. , which requires continuous attention in the future, and may need to take profit at a high level. Everything else is fine.

31. Gray:

1. How good is the proportion of active fund institutions?

2 new plan and Niu Jibao which is more risky? If the bulls turn into bears, can I still get positive returns from the new ones?

What percentage of Hong Kong stocks does Invesco Dingyi have?

Analyze the market outlook of the CSI 500 Index and chips

[Reply]

Generally speaking, too much or too little is not good.A large proportion of institutions means a high degree of recognition, and the holding period may be long. The problem is that when withdrawing, the volatility will increase. If the plate is too small, it may also lead to liquidation. In addition, specific problems must be analyzed in detail. Even if the proportion of institutions is too high, through research, these funds are long-term money, and the problem is not big. On the contrary, it will help fund managers to increase their positions, focus on long-term investment, and obtain higher long-term returns. .

The new plan is a combination of new funds to obtain 2-3% higher returns than ordinary bond funds. Niu Jibao stable type is a fixed income portfolio of secondary bonds, partial bond hybrid funds, absolute income funds, etc. The volatility is slightly higher than that of new portfolios and small targets (the income elasticity is also slightly larger).

From bulls to bears, you can refer to the bear market in 2018 and start a new fund at the bottom of the new plan. Except for a stock-bond balance type that fluctuates greatly, most of the other annual rises and falls range from -2% to Between 5%, far less than the 25% drop in the CSI 300.

Invesco Great Wall Dingyi Mixed LOF (162605) did not see that you can invest in Hong Kong stocks. Not to mention the CSI 500, it is better to buy an active base for growth. The chip has been said many times, and there is still an upward opportunity in the first half of the year. Of course, the price is not as good as when we repeatedly said at the end of last year.

32. Ordinary people:

The assistant said that Niu Jibao's all-stock model has no valuation, so what indicators should Niu Jibao refer to when it goes down? Confused!

[Reply]

Niu Jibao is a portfolio product, and the valuation is the weight of a single fund, and it is not accurate. Long-term investment thinking is recommended. As for adding a position, you must look at the price: first, you can look at the fluctuation of the position’s income, and increase the position when there is a retracement; second, you can refer to the fluctuation of the Shanghai Stock Exchange Index and increase the position when it is adjusted.

33. Wanfeng :

I would like to ask the teacher: Should the core competitiveness of Invesco Great Wall 260116 managed by Yu Guang belong to the big consumer category or the value blue chip category? Is it worth holding for the long term?

[Reply]

is historically value blue chip,Now a small number of growth stocks will be held, which is considered a balanced style. Yu Guang's products can also be held for a long time, or they can be close to 34 fund managers, but the volatility is slightly larger.

(Data source: Haomai Fund.com, interval 2011.12.20---2021.1.18)

34. Li Qiang:

Spring Restlessness Fund, such as a brokerage , Military industry, semiconductors, etc. earn tens of thousands of dollars directly to the value of blue-chip and balance. Is it not risky and quite large, or should it be redeemed first and then invested in batches?

【 Reply 】

Choose value blue chip and balanced style with low to medium volatility, and you can buy it at one time. Medium-to-high volatility requires bottom position + buy or set investment on dips, hedging and chasing high.

35. Phoenix Village :

Since the end of 2018, I have bought a large number of investment advisory products of a certain fund (8), and also bought a combination of fund companies and big Vs of a certain volume of funds (12) products, after a year of discovery, the return of investment advisory products can not catch up with Niu Jibao's all-stock portfolio, and the maximum drawdown rate is not low. Some portfolio products of a certain volume have good returns and volatility, but often To manually adjust the position, in order to reduce the complexity of the combination, I want to convert it to Niu Jibao. My average return expectation for this year is 15%, please help me give a Niu Jibao portfolio ratio! Thank you

[ Reply ]

can refer to the combination of "Niu Jibao stable type (fixed income) + Niu Jibao full share type (full share)". The stable annualized rate of return has been 8% in the past six years (the maximum drawdown is -4.13%); the all-stock portfolio is a long-distance bull base,Aim for an annualized 20% (maximum drawdown is 30-40%). Let's simulate and calculate:

36. Star Fortune :

Win+), is this ok, should Niu Jibao's entire stock rise to the expected return and should I sell it and re-invest? Treasure all-stock type (bull-based combination), global win+ (global allocation combination).

Yes, just hold it, save your worry and effort. Niu Jibao all-stock type is recommended to be held for more than 3 years. In addition, considering that as long as you can tolerate this short-term drawdown of long-term funds, the cumulative return of long-term holdings is the largest, and the significance of taking profit is not so great. It's good to keep good assets.

37. Season's Pavilion :

The new plan currently has an income of 6.63. Do you want to change the profit to other bond funds? Can you analyze the Caitong value mix? 34 fund managers removed him after 2.0, currently holding a little over 20,000, with a yield of 9.97%. It was bought in October last year. Do you need a profit

[ Reply ]

hit The new plan is a fixed income product, because the volatility is small, and the profit-taking is of little significance. It is good to continue to hold it.

Caitong Value Momentum Mixed (720001) In terms of holdings in the third quarter of last year, the pharmaceutical sector increased to 17%, while others continued to focus on 5G and communications.Including consumer electronics, new energy vehicles, semiconductors, etc. It is a bit deviating from the previous pure 5g communication direction, but it is still a technology growth fund. With the dominant growth style, it can continue to be held in the first half of the year. In the long run, this product is not aggressive enough, the retracement is not low, and the long-term holding value is not high.

38. Susu Jewelry Studio??? :

Hello, Editor-in-Chief Gui, I have been holding Cao Mingchang's CEIBS value discovery for about half a year. ?

Is it still suitable for new energy to directly build a five-storey position?

I have always insisted on regular investment in the military industry. Do I need to take profit at a high level now?

Thank you, Editor-in-Chief Gui!

[ Reply ]

Cao Mingchang is somewhat famous, and is an antique veteran like Zhu Shaoxing, but his performance in recent years has been relatively average, including the Central European value discovery you mentioned. Change it sooner.

New energy is still one of the main trends this year, and it is a long-term growth track. It will be relatively large, and the price/performance ratio is not so high. It is possible to intervene on dips and absorb chips at low positions, but the total position ratio should not exceed 20%.

The military industry can continue to hold, and it is also one of the outlets that may be active again and again this year. If the position is heavy, you can increase the take profit in batches. In addition, this as a satellite asset, do not make it into a long-term. Referring to the GEM, if this round of bull market is over, the military industry will not be soft at all.

39, Koizumi :

fund plan a total of 200,000

defense,Equity and Debt Balanced Fund: 90,000

1) Hongde Zhiyuan Mixed, Wu Chuanyan 004965 30,000

2) Peace of Mind, Zhang Qinghua 000171 30,000

3) Niu Jibao Balanced 30,000

Offensive, stock fund: 100,000

1) Value blue chip:

Xingquan Trend Investment, Dong Chengfei 163402 25,000

2) Balanced allocation:

Xingquan Herun, Xie Zhiyu 163406 25,000

ICBC Cultural and sports industry stocks, Yuan Fang 001714 25,000

3) Consumption:

E Fund Small and Medium Cap, Zhang Kun 110011 10,000

4) Medicine:

China-Europe Healthcare Mix, Gelan 003095 10,000

5 ) Technology:

Fuguo Innovation and Technology, Li Yuanbo 002692 10,000

Teacher, I would like to ask if I can allocate this fund and plan to hold it for a long time. Do you have any other suggestions?

[ Reply ]

Yes, they are all 34-bit standard, just take it.

This is the content of the Q&A in this issue. If you find the content useful, you also hope to pay attention to us. If you have questions about fund investment, you can also leave a message or private message me. Thank you~~

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