Are you still worried about the market? 100 billion yuan of incremental funds come, and the decisive battle of public private placement begins

category:Finance
 Are you still worried about the market? 100 billion yuan of incremental funds come, and the decisive battle of public private placement begins


Private placement continued to improve. According to the latest data of private placement network, as of November 13, the private placement position of stock was 78.34%, a new high in the year. Specifically, 58.96% of private equity positions exceeded 80%, and 27.86% of private equity positions were between 50% and 80%.

Among the private placements of different scales, the 10 billion level private placement has the highest position, with an average stock position of 83.53%. Compared with the beginning of the year, the overall position of the 10 billion level private placement has increased by 14.51 percentage points, and the current position of more than 90% of the 10 billion level private placement is more than half.

As for the position of public funds, Everbright Securities found that as of November 20, the average position of stock funds was 88.73%, up 0.38% compared with the previous week; the average position of partial stock hybrid funds was 82.41%, increased by 0.05% compared with the previous week.

In addition, Everbright Securities said that as of November 20, the composite index of market sentiment was 58, up from 55 a week earlier, with market sentiment neutral and optimistic.

Theres a steady stream of new bullets

Active equity funds over 3 billion yuan established in November (as of November 23)

It is worth noting that some of the funds have been closed but have not yet been announced. For example, harvest power pioneer hybrid fund sold out in one day, reaching the upper limit of raising scale of 8 billion yuan; the subscription amount of rich country balanced strategy hybrid fund exceeded 25 billion yuan, and the fund scale was also limited to 8 billion yuan. This means that the issuance scale of equity funds in November has exceeded 100 billion yuan.

In addition, there are still 41 equity funds being issued and 23 equity funds waiting to be issued, including some new products launched by star fund managers and fund companies with strong ability to attract money. From the overall point of view, medicine, consumption and technology are still the long-term track and key layout areas generally favored by fund companies.

From the perspective of private placement filing products, last week, there were 17 registered products of 10 billion level private placement Jinglin investment, and 14 and 9 products of average investment and Yanfu investment of the other two 10 billion level private equity investment.

Source: private placement network

Long term still optimistic about the new economic plate

Recently, foreign institutions have also made frequent comments, optimistic about the overall performance of the A-share market. Morgan Stanley continues to give over match ratings on MSCI China stock market and a shares, and continues to hold an optimistic position on a shares; Goldman Sachs is also more optimistic about the A-share market next year, and it is expected that the returns of MSCI China Index and CSI 300 will reach 15% next year.

Domestic institutions have launched more discussions on the recent strong performance of procyclical plate. Luo Yan, deputy general manager of Institutional Investment Department of Huabao fund, believes that, on the one hand, the rise of cycle plate has brought the market activity and the amplification of trading volume. The core of cyclical stock rise is the inflection point of the industry rather than the valuation or stock price level, such as automobiles, banks, etc. However, in the long run, under the background of lower economic growth, the elasticity and height probability of cyclical stocks are not strong enough to represent the direction of new economic development.

Luo Yan further analysis said that, on the other hand, the adjustment of high boom industries with high valuation left room for next years market. The valuation of a large number of leading stocks in these sectors is basically in the upper limit of reasonable valuation for the next year or even the following year before this adjustment. If the stock price continues to rise, it will do more harm than good for the trend of the next 1-2 years. At the end of next year, if the blue chip stage can be re established at the end of next year, it will enter the stage of growth again.

Dan bin, founder of Dongfang harbor, said that in terms of industry selection, if you choose a good industry, even if you encounter bad conditions in the short term, you will come out and develop better in the future. However, if the selected industry is not good, even if you hold it for a long time, it is difficult to get good returns. For example, many investors can hold steel enterprises for seven or eight years without making money. I personally think that even if they hold steel enterprises for another seven or eight years, they may still lose money. Some companies have low valuations, and there may be problems that investors are not easy to find. Low valuations are not necessarily good investment targets. In the view of the monopolistic business model of pharmaceutical industry, such as Binbin, DanJia, and so on, there are also opportunities to invest in the pharmaceutical industry. Editor: Huang Shuhui source: China Securities Net Author: Lu Haiqing editor in charge: Zhong Qiming_ NF5619

Dan bin, founder of Dongfang harbor, said that in terms of industry selection, if you choose a good industry, even if you encounter bad conditions in the short term, you will come out and develop better in the future. However, if the selected industry is not good, even if you hold it for a long time, it is difficult to get good returns.

For example, many investors can hold steel enterprises for seven or eight years without making money. I personally think that even if they hold steel enterprises for another seven or eight years, they may still lose money. Some companies have low valuations, and there may be problems that investors are not easy to find. Low valuations are not necessarily good investment targets. In the view of the monopolistic business model of pharmaceutical industry, such as Binbin, DanJia, and so on, there are also opportunities to invest in the pharmaceutical industry.

Editor: Huang Shuhui