Warehouse vane | Huitianfu Fund Hu Xinwei: Focus on the upgrading of consumer structure, add the home appliances and beauty care industries

China Fund News Cao Wenzheng

Editor's note: Recently, the Fund's second quarterly report has been disclosed. The changes and changes in the position and position of the star fund managers have also become the focus of the attention of the citizens. Behind each regular report, these outstanding manager's "investment secrets" are also hidden. Fund Jun will continue to update the character's database feature [positioning vane], decoding star fund product holding changes and its manager's investment philosophy.

Hu Xinwei, the manager of Huitianfu Fund Star Fund, has always focused on the consumer sector for medium- and long -term layout. Since last year, due to the influence of the epidemic and the overall consumption, Hu Xinwei's positioning strategy has attracted the attention of investors.

On behalf of the Fund Huitianfu's consumer industry, the investment in the second quarter of the consumer industry continued to focus on the A -share consumer industry, and continued its consistent investment style, and the overall position structure was stable. In the second quarter, Hu Xinwei added a picked up, Luzhou Laojiao, and increased the allocation of home appliances, beauty care and other industries.

Hu Xinwei believes that the short -term epidemic factors do not affect the potential of the continuous and steady growth of China's consumer industry, and it does not affect the trend of continuous upgrading of China's consumption.

In this issue of [Warehouse Vane], Fund Jun will explain the second quarter report and its positioning of Hu Xinwei, the manager of Nuohui Tianfu Fund.

Increase the configuration of industries such as home appliances, beauty care

Hu Xinwei, Manager of Huitianfu Fund Star Fund, has always been a solid "fans" for consumer -themed investment, focusing on the consumer sector for medium- and long -term layout.

As of the end of the second quarter, the total management scale of the eight funds that Hu Xinwei was in charge was 58.778 billion yuan, an increase of 6.559 billion yuan over the end of the first quarter.

In the second quarter of this year, Hu Xinwei represented Fund Huitianfu's consumer industry stock position 90.57%, an increase of 5.44 percentage points from the end of the first quarter, and continued to focus on high -quality companies in the A -share consumer industry.

In terms of individual stocks, in the first quarter, Shanxi Fenjiu, Ningde Times, and "Duty Free Circuit Last" China was exempted from China. In the second quarter, Hu Xinwei continued to reduce holdings of Shanxi Fenjiu and China. Compared with the previous period, it decreased by 6.16%and 41.67%, respectively. The increase in Luzhou Laojiao and Pianzi 癀 increased by 1.64%and 11.63%relative to the previous period.

Yili and Haier's family have made the top ten in the top ten.

Among them, the top ten heavy stocks accounted for 56.16%, which was slightly decreased compared to 57.29%at the end of the first quarter.

If the consumer industry in the 2022 report was compared with the 2016 annual report, in more than five years, Hu Xinwei's combination has been expanded from food beverages, home appliances and home furnishings to medical health, electronics, and new. Energy, finance and many industries. From the perspective of the changes in the combination of heavy positions, from the third quarter of 2018 to the first quarter of 2021, the heavy position Changchun High -tech; from the fourth quarter of 2019 to the fourth quarter of 2020, the heavy storage Lixun was precise; Quarterly. Looking back, these big bull stocks have contributed to the combination.

Focus on the upgrading of consumer structure, the rise of Chinese brands, and the outbreak of service consumption

Hu Xinwei said in the second quarter report of Huitianfu Consumption Industry that in the second quarter of 2022, the A -share market fluctuated and rose by 4.50%. The market continued in the first quarter of the market in April. The market in May and June ushered in a rebound, and the overall market recorded the rise in the second quarter. In the second quarter, the trend of various industries in the A -share market continued to differentiate. Automobile, food, beverage, power equipment, beauty care and other industries performed well, and real estate, computers, environmental protection, media and other industries were backward.

In the second quarter of 2022, China's overall performance was under pressure. Beginning in late March, with the spread of the epidemic in many places across the country, domestic consumption in the second quarter was greatly affected, and the total retail sales of domestic social consumer goods in April and May had declined year -on -year. However, with the gradual control of the epidemic in China, the trend of domestic consumption recovery is also more obvious. It is expected that domestic consumption in June will improve significantly from April and May. It is believed that a short epidemic factor does not affect the potential of the continuous and steady growth of China's consumer industry, and it does not affect the continuous upgrade of China's consumption.

Hu Xinwei concluded that in the second quarter of investment, he continued to focus on high -quality companies in the A -share and Hong Kong stock consumer industry. Although the epidemic has repeatedly brought phased disturbances to the production and operation of many consumer listed companies, we hope to dilute the short -term and focus on the development trend of the consumer industry and the company's core competitiveness. Essence We continue to invest in the direction of consumer structure upgrade, the rise of Chinese brands, and the outbreak of service consumption. We also continuously adjusted the combination, and appropriately increased the allocation of home appliances, beauty care and other industries.

"Tuozhu" is a popular word in the fund industry in the past two years. With the increase in management and changes in the market style, industry -type fund managers have begun to expand their ability circle consciously to better adapt to the market. In an interview with the media, Hu Xinwei said that the expansion capacity circle is a "self -cultivation" that a qualified fund manager must have. "There is no barrier and threshold for the expansion capacity circle, which is nothing more than spending time."

- END -