In the first half of the year, A-shares fluctuated and fluctuated, but foreign funds continued to seek opportunities to enter the market. Some institutional funds were transferred from fixed income products to equity products, and individual investors were also quite confident in the market, so head private placement had to issue more products. A 10 billion level private fund source disclosed.
According to the data of China Fund Industry Association, as of the end of June, more than 60 new products with 10 billion level private placement were put on record intensively in the first half of June. Among them, Gaoyi assets recorded 76 products in the first half of the year, far higher than the total number of 57 products recorded in the whole year last year. Danshui spring also registered 56 new products, ranking second. During the same period, 51, 50 and 47 new products of Minghong investment, oceanwide investment and Lingjun investment were recorded respectively.
Under the background of abundant liquidity this year, equity assets are undoubtedly more cost-effective investment direction, so in the first half of the year, its easy to find private equity products in the first half of the year, and even have the money to come to us. A 10 billion level director of private equity market in Shanghai said that the probability of A-share market reappearing extreme market in the second half of the year is small, and it is expected to deduce the structural market. It is expected that the capital will continue to maintain a relatively comfortable state, and it is difficult to cool down the product issuance of high-quality public private placement.
According to the latest data, the investment amount of residents (including private fund managers co investment) in private equity investment funds increased by 243.728 billion yuan last year, which is opposite to the situation of a decrease of more than 200 billion yuan at the end of 2018. This shows that, in the case of the stock market recovery, funds are actively through private placement.
Frequent investigation and steady increase
So, what will be the layout of the future market of the 10 billion level private placement? The latest data give the answer.
According to the statistics of private placement network, as of June 19, the overall position of stock private placement has been reduced by 0.24% month on month, and the position index has dropped to 72.04%, of which 47.33% of the private placement positions are more than 80%. It is worth noting that the 10 billion level private placement increased its position against the trend, and the position remained above 80% for 8 consecutive weeks, and 71.39% of the 10 billion level private placement position exceeded 80%.
Star stone investment also said that the second half of the market is more confident. From the fundamental point of view, with the domestic economic activities returning to normal level, some leading indicators perform better, and the performance of listed companies is expected to improve simultaneously. In addition, the continuous improvement of capital market infrastructure will guarantee the realization of long bull of a shares.
At the same time of steadily increasing positions, 10 billion level private placement is also frequently investigating related stocks in the pharmaceutical sector. According to choice data, in June, the frequency of private placement research of Herbalife reached 48 times, and that of Kanghong pharmaceutical was more than 20 times. Specifically, Gaoyi assets has investigated new industries; Qianhe capital has investigated Wuwu biology, baolaite, Boya biology, Dongcheng pharmaceutical and Yiduoli; Xingshi investment has investigated Jincheng pharmaceutical; Chongyang investment has investigated Boya biology and Dongcheng pharmaceutical.
Some private placements said that although the overall valuation of the pharmaceutical sector is high, there are still investment opportunities in the pharmaceutical sub sectors such as narcotic drugs and innovative drugs. In the future, we will steadily lay out high-quality targets with reasonable valuation. According to Lu hang, general manager of Fusheng assets, the internal differentiation trend of the pharmaceutical sector is obvious, and attention can be paid to the subdivision track of anesthetics in the future. Because of the particularity of anesthetics, technical barriers are very high, production and circulation are also highly regulated. Moreover, the domestic market scale of narcotic drugs is gradually growing at a compound annual growth rate of about 10%, and investment opportunities are highlighted.