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nginx/1.22.0Financial World Fund August 31 The Huitianfu China High-end Manufacturing Stock Securities Investment Fund (abbreviated as: Huitianfu High-end Manufacturing Stock D, code 015115) announced its latest net value, down 1.51%. The unit net value of this fund is 2.541 yuan, and the cumulative net value is 2.541 yuan. The latest periodic report of
shows that the scale of this fund is 2.43 billion yuan, and the scale of the previous period was 1.826 billion yuan, an increase of 33.07%.
Huitianfu China High-end Manufacturing Stock Securities Investment Fund was established on 2022-02-14, and its performance benchmark is "Shenyin Wanguo Manufacturing Index *80.00% + China Bond-Comprehensive Index *20.00%". Since its establishment, the fund has a return of 0.95%, the year has a return of 0.95%, the past month has a return of -1.24%, the past year has a return of - and the past three years has a return of -. In the past year, this fund has ranked the same category (--/1117). Since its establishment, this fund has ranked the same category (866/1411).
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fund manager is Zhao Pengfei, who has managed the fund on February 14, 2022, and has earned 2.50% during his term of office. The latest regular report of
shows that the top ten heavily held stocks of the fund are Haier Smart Home (holding ratio 6.62%), Tunan Shares (holding ratio 6.26%), CATL (holding ratio 6.15%), BYD (holding ratio 4.53%), Xianju Pharmaceuticals (holding ratio 4.28%), Lion Micro (holding ratio 3.54%), Aerospace Power (holding ratio 3.47%), Jianghai Shares (holding ratio 3.36%), Weier Shares (holding ratio 3.00%), and Fushun Special Steel (holding ratio 2.95%), totaling 44.16% of the total assets of the funds, and the overall concentration of holdings (medium). During the previous reporting period of
, the top ten heavily held stocks of the fund were Tunan Co., Ltd. (holding ratio 6.33%), Yili Co., Ltd. (holding ratio 6.26%), Haier Smart Home (holding ratio 5.92%), Yanhu Co., Ltd. (holding ratio 5.53%), Xianju Pharmaceutical (holding ratio 5.30%), Fushun Special Steel (holding ratio 4.84%), Jianghai Co., Ltd. (holding ratio 4.51%), Hang Seng Electronics (holding ratio 4.31%), Aerospace Power (holding ratio 4.18%), and Hangyu Technology (holding ratio 3.98%), totaling 51.16% of the total assets of the funds, and the overall concentration of holdings (high).
Fund investment strategy and operation analysis during the reporting period
A-share market fluctuated greatly in the second quarter. The world encountered many unexpected factors in the first half of this year. The Russian-Ukraine war triggered an energy crisis, and the domestic epidemic caused many regional economies to shut down, which affected the global industrial chain. The epidemic in March and April had a great impact on domestic consumption and manufacturing industries, seriously affecting investors' confidence, and manufacturing stocks represented by new energy fell sharply. After May, the market ushered in a big rebound, and the "New Semi-English" track stocks with high prosperity rebounded sharply. In the second quarter, the Shanghai Composite Index rose 5.5%, the Shanghai and Shenzhen Composite Index rose 6.21%, the CSI 500 rose 2.04%, and the ChiNext Index rose 5.68%. From the perspective of industry, the financial, real estate and food industries fell slightly in March and April, but the rebound in May and June was very small. Track stocks represented by the "New Semi-jun" fell sharply in March and April, and rebounded greatly in May and June. Looking back at the biggest influencing factor in the second quarter was the epidemic. As the epidemic improved in early May, investors' confidence in the manufacturing industry has recovered, especially photovoltaics and electric vehicles with strong demand. With the gradual relaxation of epidemic policies and the government's efforts to stimulate the economy have increased, investors have gradually recovered their confidence in the domestic economy, and the valuation of the consumer industry chain has gradually rebounded.
We adjusted our positions relatively much in the second quarter, because the epidemic has been recurring and domestic economic expectations have been unstable, so we can only make a decision. The allocation of stable assets was increased in March, but the sharp decline in manufacturing in April seriously dragged down net value. At the end of April, we believed that many stocks fell significantly and had a large margin of safety, so we gradually increased our positions. We bought less new energy. We underestimated the surge in distributed photovoltaics in Europe, and also underestimated the rebound in sales of domestic new energy vehicles.
We judge that the intensity of economic recovery in the future is limited, the global economy may face the risk of recession, domestic residents' income expectations are expected to decline, and economic stimulus policies are limited. Therefore, we focus on industries with stable demand, such as military industry, photovoltaics and essential consumer goods.With the sharp rebound in the market, we believe that many industries have relatively reasonable valuations and may be difficult to experience sustained bubbles, but the market will also find it difficult to return to the lows in April. At present, our allocation is relatively more balanced, and our current holdings are mainly distributed in industries such as military industry, new energy vehicles, medicine and consumption. Looking ahead to the future market, we believe that the epidemic will continue to ease, global inflation pressure will decline, and may face the risk of recession, so growth industries with high demand certainty are still the best choice.
The performance of the fund during the reporting period
The net value growth rate of the Class A shares of Huitianfu High-end Manufacturing stocks was 10.40% during the reporting period, and the benchmark yield for the same period was 5.75%. During this reporting period, the net value growth rate of Huitianfu High-end Manufacturing Stock Class C shares was 10.28%, and the benchmark yield for performance in the same period was 5.75%. During this reporting period, the net value growth rate of the Class D shares of Huitianfu High-end Manufacturing stock was 10.33%, and the benchmark yield for performance in the same period was 5.75%.
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This article comes from the financial world fund
