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nginx/1.6.1Financial World Fund reported on August 31 that Zhejiang Merchants Hong Kong Stock Connect China Trading Service Expected High Dividend Index Enhanced Securities Investment Fund (hereinafter referred to as: Zhejiang Merchants China Expected High Dividend Index Enhanced A, code 007178) announced its latest net value, down 1.76%. The unit net value of this fund is 1.1526 yuan, and the cumulative net value is 1.1526 yuan. The latest periodic report of
shows that the scale of this fund is 960 million yuan, and the scale of the previous period was 1.826 billion yuan, a decrease of 47.43%.
Zhejiang Merchants Hong Kong Stock Connect China Trading Service Expected High Dividend Index Enhanced Securities Investment Fund was established on 2019-10-30, and its performance benchmark is "China Trading Service Expected High Dividend Index (RMB) * 95.00% + Bank Current Deposits * 5.00%". Since its establishment, the fund has a return of 15.26%, the year has a return of -3.03%, the past month has a return of 4.92%, the past year has a return of -1.86%, and the past three years has a return of -3.03%. In the past year, this fund has ranked the same category (112/1117). Since its establishment, this fund has ranked the same category (688/1411).
Financial World Fund Fixed Investment Ranking Data shows that the return of fixed investment in the fund in the past year was -4.60%, and the return of fixed investment in the past two years was 5.34%. (Click here to view the fixed investment ranking) The fund manager of
is Jia Teng, who has managed the fund on December 10, 2020, and has earned 26.67% during his term of office. The latest regular report of
shows that the top ten heavily held stocks of the fund are Xuhui Holdings Group (holding ratio 9.13%), China Overseas Hongyang Group (holding ratio 8.90%), Yanzhou Coal Energy (holding ratio 8.77%), China Offshore Oil (holding ratio 7.38%), China Resources Cement Holdings (holding ratio 7.04%), China Shenhua (holding ratio 7.02%), Midea Real Estate (holding ratio 6.78%), Ansteel Co., Ltd. (holding ratio 6.53%), Ma'anshan Iron and Steel Co., Ltd. (holding ratio 6.36%), and China Hongqiao (holding ratio 6.32%), totaling 74.23% of the total assets of the funds, and the overall concentration of holdings is (high). During the previous reporting period of
, the top ten heavily held stocks of the fund were Xuhui Holdings Group (holding ratio 8.49%), China Resources Cement Holdings (holding ratio 8.01%), Ma'anshan Iron and Steel Co., Ltd. (holding ratio 7.73%), China Shenhua (holding ratio 7.70%), China Overseas Hongyang Group (holding ratio 7.53%), Ansteel Co., Ltd. (holding ratio 7.38%), Yankuang Energy (holding ratio 7.13%), China Offshore Oil (holding ratio 6.59%), Bank of China (holding ratio 6.44%), and China Hongqiao (holding ratio 6.42%), totaling 73.42% of the total assets of the funds, and the overall concentration of holdings (high).
Fund investment strategy and operation analysis during the reporting period
During the reporting period, the main investment products of this fund are Hong Kong stocks, and investments are made in accordance with the high dividend index enhancement strategy for Zhejiang Merchants. We have adopted the unique combination of AI (artificial intelligence) + HI (human intelligence) model of Zhejiang Merchants Fund. On the one hand, we reasonably control tracking errors through quantitative means, and on the other hand, we strive to achieve an enhancement strategy by actively in-depth research on constituent stocks.
Exogenous factors such as overseas interest rate hikes in the second quarter have brought new twists and uncertainties to the domestic economy, which is expected to enter the repair channel. Looking ahead to the second half of the year, against the backdrop of a comprehensive impact on domestic employment, investment and consumption, the internal demand for "stabilizing growth" has become more urgent. We are optimistic about further policy efforts, so that the domestic sector economy can further return to normal track. Overseas, although the market is trading recession expectations, it remains to be seen whether a recession will occur overseas will remain. The strong balance sheet of residents and the upward capital expenditure cycle still have an upward pull on the overseas economy. The high inflation of
is a particularly important focus issue, and we tend to think that it is difficult to describe (not taking into account the so-called cardinality factor) downward perspective. In terms of commodities, there has been a lot of external shocks when the supply is very scarce and cannot be changed in the medium term. At the same time, the demand for industrial products will also rise under the combined combination of stable domestic growth and a new round of overseas capital expenditure cycle. Commodities are still easy to rise but difficult to fall, and the price center is likely to continue to rise. In terms of consumption, the situation of overseas labor shortage and significant growth in blue-collar wage income has not improved. On the basis of the strong balance sheet of residents, the downward trend of demand caused by interest rate hikes may not be very large.In summary, we tend to think that the turning point of inflation is difficult to describe.
In the Hong Kong stock market, the market may have some twists and turns due to factors such as overseas interest rate hikes in the short term, but the fundamentals of mainland assets have rebounded and the valuation is very cheap. The overall long-term implied yield of Hong Kong stocks has increased significantly, so we remain optimistic. As discussed earlier, in the context of rising supply constraints on demand, price increases are still an important investment main line. We believe that in the context of revaluation of production factors in the next few years, mid- and upstream companies in Hong Kong stocks still have important investment opportunities. In addition, the real estate policy has been determined to shift, while some domestic real estate stocks with excellent quality still implies the assumption of "bankruptcy liquidation". We believe that high-quality domestic real estate stocks with stable finances, outstanding operating capabilities or resource endowments also have better opportunities.
The performance of the fund during the reporting period
As of the end of this reporting period, the net value of Zhejiang Merchants China expected high dividend A fund shares was 1.2461 yuan, and the growth rate of fund shares in this reporting period was -0.71%; as of the end of this reporting period, the net value of Zhejiang Merchants China expected high dividend C fund shares was 1.2348 yuan, and the growth rate of fund shares in this reporting period was -0.80%; the benchmark yield of performance in the same period was -7.86%.
I want to buy: Zhejiang Merchants China expects high dividend index enhancement A (007178)
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This article comes from the financial industry fund
This article is from the financial industry fund
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