Today's bond fund list, from the perspective of the cumulative net value growth rate in the past three months, the top 10 products with the highest growth rate include Huashang convertible bond bond A, Shenwan Lingxin convertible bond bond bond, Huashang convertible bond bond C, etc. Among them, CITIC Prudential Wenhong A has the highest cumulative net value among the top 10, at 7.1711; in terms of holdings, its bond position percentage reached 76.19%, and the top three holdings are 20 in and out 04, 20 in and out 16, and 20 in and out 09.
Today's mixed fund list, from the cumulative net value growth rate in the past three months, the top 10 products with the highest growth rate include GF Value Leading Mixed, Jiutai Industry Preferred Mixed A, Jiutai Industry Preferred Mixed C, etc. Among them, Dacheng Xinrui Industry Mixed has the highest cumulative net value among the top 10, at 4.7800; in terms of holdings, its stock position percentage reached 96.66%, and the top three holdings are Xinyangfeng, Mingtai Aluminum and Great Wall Motors; in terms of ratings, Ji'an Jinxin has 4 stars rating and Shanghai Securities has 4 stars rating.
Today's stock fund list, from the perspective of cumulative net value growth rate in the past three months, the top 10 products with the highest growth rate include Jiashen Basic Industry Preferred Stock A, Jiashen Basic Industry Preferred Stock C, Penghua Guozheng Steel Industry Index, etc. Among them, Morgan Stanley Enlightenment stocks have the highest cumulative net value among the top 10, at 3.3000; in terms of holdings, their stock position percentage reaches 88.13%, and the top three holdings are Tongkun Co., Ltd., Linglong Tires, and Hengli Petrochemical; in terms of ratings, Ji'an Jinxin has rated 3 stars, China Merchants Securities has rated 1 star, and Shanghai Securities has rated 2 stars.
Currently, the net profit gap between wealth management subsidiaries that have disclosed annual report data is relatively large. Specifically, in 2020, China Merchants Bank Wealth Management temporarily ranked first with a net profit of 2.453 billion yuan; the second place was China Merchants Bank Wealth Management, with a net profit of 665 million yuan; the newly established Xinyin Wealth Management ranked third with a net profit of 595 million yuan in July last year.
Judging from the progress of the net value transformation of wealth management products of A-share listed banks with some disclosed data, joint-stock banks are relatively "small and easy to turn around", and the proportion of net value scale highlights their advantages.
3, 10 private equity firms surveyed 12 companies with 10 billion yuan: Dangsheng Technology (300073.SZ) received "buy" rating from 9 institutions
From March 22 to March 28, a total of 88 listed companies received institutional surveys, an increase of 21 on a month-on-month basis. Among them, 32 are small and medium-sized boards, accounting for about 69%; 29 are GEM , 3 are Science and Technology Innovation Board companies, and the other 24 are from the main board.
From the perspective of industry distribution, the chemical industry is still the most popular among institutions. A total of 11 related companies have been surveyed, including: Jinhong Gas, Nar Co., Ltd., Yuntu Holdings, Feikai Materials, etc. The second is the pharmaceutical and biological industry, the mechanical equipment industry and the electronics industry, with 10 and 9 companies respectively being investigated.
[Judgement Comments]
Last week, Dangsheng Technology (300073) was investigated by 209 institutions, including Gaoyi Assets, Jinglin Assets, Danshuiquan Investment and other well-known private equity firms worth 10 billion yuan. In terms of ratings, a total of 9 institutions gave Dangsheng Technology a "buy" rating. Among them, on March 26, Bank of China Securities released a research report saying that it would maintain Dangsheng Technology's increased holding rating. According to data, Dangsheng Technology's business areas cover two major sectors: lithium battery materials and intelligent equipment. In 2020, Dangsheng Technology achieved operating income of 3.183 billion yuan, a year-on-year increase of 39.36%; net profit of 385 million yuan, exceeding the previous performance forecast ceiling.
4. The scale of new funds raised in the first quarter hit a new high
As of March 28, a total of 404 new funds have been established since 2021, with a total fundraising scale of 1055.036 billion yuan, a year-on-year increase of up to 95%. The first quarter of 2021 became the hottest quarter for the issuance of new funds in history.
In terms of the scale of establishment, there are 15 newly established funds of 10 billion this year, of which 3 have exceeded 9.9 billion. Equity funds account for 88.34% of the new fund size.
From the perspective of fund companies, there are 29 new funds with a scale of over 10 billion yuan. The fund fund raising scale of GF, E Fund, Southern and Huitianfu this year exceeded 50 billion yuan.
After the Spring Festival, due to the rapid pullback of the A-share market, the enthusiasm for fund subscription has cooled significantly.
[Judgement Comments]
The market has fluctuated significantly recently. Many analysts pointed out that the main reason is that the long-term US Treasury bond interest rates have risen rapidly, causing the market to experience an increase in risk aversion sentiment. The global equity market generally fluctuates and pulls back, and the growth sector with a large increase in the previous period has a more obvious correction.
Faced with a sharp decline in the fund market, some old funds can offset the returns in the past few years. However, the net value of secondary funds since its establishment in the second half of 2020 has suffered a sharp retracement due to the rapid pace of opening positions in general, and the net value of many funds has fallen below 1 yuan.
5, carbon neutrality concept stocks set the record for the most consecutive boards this year
March 29, the market trend turned to two extremes. On the one hand, the high-dividend strategy with a defensive attribute has heated up again. After coal giant China Shenhua disclosed a high-proportion dividend plan, the stock price hit the daily limit, closing at 9.52%; on the other hand, hot money with high risk preferences continued to be active, and the stock price of the carbon neutral concept stock Shunkong Development achieved 16 consecutive boards, setting a record for the highest consecutive board of A-shares this year.
Driven by hot spots, the Shanghai Composite Index showed a rebound trend, closing at 3435.30 points, up 0.50%.
According to data from Nancai Financial Management, today's new bank wealth management products are mainly fixed income, with mixed products such as Bank of China Wealth Management, Agricultural Bank of China Wealth Management, China Construction Bank, Industrial and Commercial Bank of China, Longjiang Bank , etc.
[Judgement Comments]
Agricultural Bank Wealth Management "Agricultural Bank of China Unicom Unicom, Agile" 540-day value selection RMB wealth management products performance benchmark is 4.30%, and 0.02%/year custody fee, 0.25%/year sales management fee, and 0.20%/year investment management fee are charged on a daily basis. This product is a mixed product, mainly investing in money market instruments, bonds, interbank deposits, asset-backed securities and other debt assets that meet regulatory requirements, securities investment funds, various asset management products or plans, equity assets such as stocks (including Hong Kong stocks), preferred stocks and other equity assets issued or listed on exchanges in accordance with the law, futures (such as stock index futures, treasury bond futures, commodity futures, etc.), options and other derivative assets, commodity assets and other financial instruments allowed by the supervision of the exchange. Among them, the proportion of fixed income assets investment is less than 80%, the proportion of equity assets is less than 50%, and the proportion of other assets that meet regulatory requirements is less than 80%.
According to Nancai Financial Management data, in the ranking of the largest retracement of fixed income products in the past three months, the top ten products include ICBC Wealth Management's Yihe Private Bank Exclusive Series and Global Selected Series, as well as the "Chengyi", "Ruixin", "Ruixu" series of China Construction Bank Wealth Management. Among them, the largest drawdown is ICBC Wealth Management and Yihe Private Bank exclusive fixed income closed net value product (20GS5817), with the largest drawdown reaching 4.79%.
According to Nancai Financial Management data, in the list of the largest drawdowns in the mixed products in the past three months, the top ten products include Industrial Bank 's Xingrui Preferential Series, ICBC Financial Management's Hengrui Private Bank Exclusive Quantitative FOF Series, Bank of China Financial Management's Zhifu Series, Zhifu Value Investment Series, Zhifu Dividend Selection Series, and the "July" Series of Pension. Among them, the largest drawdown was Industrial Bank Xingrui Preferred Engagement Mixed Net Value Financial Management Products, with the largest drawdown reaching 13.43%.
Since this year, a total of 73 companies intending to be listed on the Science and Technology Innovation Board and the ChiNext board have voluntarily withdraw their IPO applications, including 28 companies intending to be listed on the Science and Technology Innovation Board and 45 companies intending to be listed on the ChiNext board. There are 10 projects sponsored by CITIC Securities alone, ranking first in number.
As of now, since 2021, there are 28 companies on the Science and Technology Innovation Board that have been terminated for review due to the issuer's voluntary withdrawal of the issuance and listing application or the sponsor's voluntary withdrawal of the sponsor, involving a total of 16 sponsored securities companies.CITIC Securities and Haitong Securities both sponsored 4 of them, ranking first in number; CITIC Construction Investment has sponsored 3 of them, ranking second in number; China Merchants Securities, Minsheng Securities, Dongguan Securities , and Anxin Securities all sponsored 2 companies, ranking third in number. The other nine brokerages have sponsored one company. It is worth noting that in the same period of 2020, there were only two companies that terminated the review due to voluntarily withdrawing the IPO application.
Industry insiders believe that most companies that withdraw materials may not meet the issuance and listing conditions in terms of standardization, and some companies may be in a hurry to make progress and the intermediary agency's draft is not yet perfect. Many intermediary institutions have not yet truly possess the concepts, organizations and abilities that match the registration system, and are still "wearing new shoes and following the old path."
3. Public funds have successively released annual reports. Many celebrity managers have "invisible heavy-holding stocks" have been exposed. As the end of March is approaching, the 2020 annual reports of public funds in the market have begun to be released one after another, and the "invisible heavy-holding stocks" of many celebrity fund managers have also emerged. On March 29, Invesco Great Wall Fund announced the reminder announcement of its 2020 annual report. In addition to the top ten heavily held stocks, they still focus on holding consumer-oriented stocks. As of now, fund manager Liu Yanchun currently manages 6 funds. Under the market adjustment after the Spring Festival, all returns in the past month have been negative.
On the same day, Anxin Fund also released its annual reports of 63 funds. In addition to the previous layout of pro-cyclical and low-valuation stocks, it also deployed China Shenhua among coal stocks, Zhejiang Longsheng among chemical stocks, and among bank stocks, China Merchants Bank among bank stocks. Fund manager Chen Yifeng's funds recently suffered negative returns in the past month due to market adjustments.
4, Bilibili-SW was listed today, and it broke the opening and fell by more than 2%
On March 29, Bilibili-SW was listed on the Hong Kong Stock Exchange. Priced at HK$808 per share, it is currently the second highest-priced stock in the Hong Kong stock market, second only to Zai Lab. However, the previous secret market closed at HK$755.5, down 6.5% from the IPO price of HK$808, and lost HK$1,060 in one hand.
In response to this, Bilibili Chairman Chen Rui responded at a media conference that due to the decline in US stocks, it is a great blessing to be able to go public successfully. Believe in long-termism. According to the financial report, in the 2020 fiscal year, Bilibili's total revenue was RMB 12 billion, a year-on-year increase of 77%; a net loss of RMB 3.1 billion, compared with a loss of RMB 1.3 billion in 2019, an increase of year-on-year.
On March 29, the Guangdong Provincial Committee of the Communist Party of China and the Guangdong Provincial People's Government issued opinions on supporting Zhuhai to build a modern and internationalized special economic zone with Chinese characteristics in the new era. The opinion mentioned that we will make every effort to promote the construction of the Guangdong-Macao Cross-border Financial Cooperation (Zhuhai) Demonstration Zone and strengthen in-depth cooperation with Macau in the fields of cross-border finance, green finance, spot trading of traditional Chinese medicinal materials. Accelerate the development of modern financial services industry. Support Zhuhai to optimize the financial business environment, attract domestic and foreign financial institutions to gather and develop in Zhuhai, and improve the efficiency of financial services for modern industrial clusters. Implement the relevant policies of the central government on the establishment of RMB overseas investment and loan funds and the pilot projects of qualified domestic limited partners, encourage the development of marine financial innovation, and cultivate and develop financial technology enterprises.
As of now, digital RMB has carried out seven rounds of red envelope pilots in the four major cities of Shenzhen, Suzhou , Beijing and Chengdu. A total of nearly 150 million yuan of digital RMB was issued, and more than 500,000 people received and used it.
As of early December 2020, the digital RMB has expanded to nearly 50,000 pilot scenarios, covering areas such as life payment, catering services, transportation, shopping and consumption, and government services.
Overall, first- and second-tier cities with large GDP have a high degree of digitalization and faster development of financial technology, making them more likely to become pilot cities for digital RMB, and have special usage environments such as Winter Olympics scenes. Cities such as Shanghai, Changsha, Hainan, Qingdao, , Dalian , and Xi'an are actively striving to carry out digital RMB pilot projects.
It is worth noting that digital currency has also become a high-frequency word for local government work reports in 2021.Beijing proposed to accelerate the construction of financial technology and professional service innovation demonstration zones and promote the pilot application of digital currency. Guangdong, Shanghai and other places have also proposed to build digital currency innovation pilot zones and promote the digital RMB pilot.
[Judgement Comments]
On March 26, the People's Bank of China Digital Currency Research Institute officially released the "Legal Digital Currency Innovation Research Open Project (2021 Year)". Director Mu Changchun said that in order to provide another backup or alternative to the retail payment system, the central bank must speed up its pace and provide digital currency services.
At present, state-owned banks such as Industrial and Commercial Bank of China, China Construction Bank, Communications and Postal Savings have begun to promote digital RMB wallets. Users do not need to bring their ID or bank cards. They just need to simply fill in the information and apply for a whitelist to open a wallet to participate in the digital RMB test. Some observers have suggested that the six major state-owned banks, as operating institutions, have developed from the initial "internal invitation system" to the "wide invitation system" in the testing of digital RMB personal wallets, and state-owned banks are still the main body of operations. As the pilot continues to be rolled out, analysts believe that the comprehensive model of unified supervision of central bank APP + operation of sub-wallets in various banks has emerged, and may be the final form.
(Comprehensive from 21st Century Business Herald, Beijing Business Daily, China Securities Journal, Capital Bang, Shanghai Securities Journal , Finance Network, Securities Times , China Fund News, etc., comprehensively compiled and reported by the Nancai Financial Management Researcher)
Nancai Financial Management Passenger Researcher: Xue Ruyun, Ding Jinmian
Internship Researcher: Lin Zhiqi, Zhang Lu
Design: Cai Shuyue
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