Aviation and tourism are strong!The value faction is expected to return to the C position?

In the generation of Z, Brother Z is the most realistic.

Today's market performance is average, and the new energy track has fallen again. However, the market is not completely without highlights. Aviation airports and tourism hotels. These two major cyclical sections that have been ignored by the public have suddenly strengthened the trend and became the biggest highlight of the market.

Specifically, the aviation airport sector is popular today, and Shanghai Airport, Baiyun Airport, Spring and Autumn Airlines, and Air China have risen.

The tourism hotel sector is more flexible, Guilin's daily limit, Junting Hotel, Tongqing Building, Xi'an Tourism, Songcheng Performing Arts, etc. have increased significantly.

In fact, one of the reason why these two sectors start at the same time is that a very important factor is -the Mid -Autumn Festival holiday is coming, and the National Day holiday will be here soon. ten". The more important speculation logic of these two major industries is the expectation of the entire tourism demand after the epidemic is relieved.

Of course, in the short term, Brother Z feels that this year's Mid -Autumn Festival, even National Day, and the tourism industry in many areas in China may still be cold.

However, once the epidemic is true, the tourism industry is not only a certain recovery, but also more likely to retaliate. The recovery of this demand not only in terms of tourism, but also offline consumption scenarios such as catering, hotels, film and television, duty -free shops, will usher in spring.

Perhaps it is precisely for this reason. Even for most of this year, the performance of aviation, tourism and other sectors is mediocre, and there is only the possibility of "dilemma reversal", but it is still held by some valuable fund managers.

When it comes to the manager of the Value Fund, Brother Z has a deeper influence. One is Lin Yingrui of the Guangfa Fund, and the other is Jin Zicai of Caitong Fund.

Lin Yingrui has become famous, and was once the college entrance examination. His management of Guangfa value leading products has performed well in the past two years. However, in the second quarter of this year, from April to June, Lin Yingrui laughed at himself "playing the role of bystanders." When the market rose, the products he managed were flat and stable.

However, with the collective rise of aviation stocks today, Lin Yingrui once again returned to the C position, and it became a trend of "protagonist" again. Because of the products he managed, the heaviest position of the position was aviation stocks, and in the second quarter of this year, he also added positions.

Lin Yingrui currently has a total size of the product close to 20 billion. The long -term management products are the leading value of Guangfa, the mixed strategy of Guangfa Duo, and the leading mix of Guangfa Ruiyi. Judging from the performance of these three products, positive returns have been achieved since this year. Although the yield is not high, it can still be ranked in the top 1/10 in hybrid products.

Lin Yingrui repeatedly passed to investors' opinions to "the importance of matching." "We hope that the portion of the portfolio and the liability side can match more. The development space of the wealth management industry is huge, and the strategies with good performance in the equity market have a long -term performance and low correlation. I also hope that investors can recognize and understand our practices and make choices. "

Specifically, Lin Yingrui believes that the investment method should be matched as much as possible, the asset side and the liability side should be matched as much as possible, and the expected yield and the fluctuations that can be assumed should be matched. Therefore, it is not difficult to see from his heavy stock stocks that it may not be pursuing too high yields, but the risk has been fully released, and the aviation sector with the highest fixed performance in the future.

Perhaps, Lin Yingrui's personality is to pursue a certain income of low risk. For investors, if your personality is similar, then Brother Z thinks that Lin Yingrui's products are very suitable for such investors.

Fund managers similar to styles, as well as Caitong Fund Jinzi. The products he manages also heavy positions, but this year's performance is stronger than Lin Yingrui. The difference between Jin Zicai and Lin Yingrui is that the other section of his heavy position is the pork sector, and the other section of Lin Yingrui's heavy position is a bank.

In addition, Jin Zicai's main position is the pork sector. Jin Zicai stated in the fund interim report that although the pig farming sector has been adjusted in mid -to -late April, after careful research and verification, the entire industry's production capacity is larger than imagined. It is not uncommon for severe production capacity. Through the analysis of the upstream and downstream data of the industrial chain, and the analysis of the monthly outlet data disclosed by the listed company, this conclusion is obvious. Based on the above analysis, the proportion of the pig breeding sector has not been adjusted, and it continues to be optimistic about the follow -up market in the second quarter.

For the service industry such as aviation, Jin Zi was worried about the repeated disturbances of the epidemic, which caused certain uncertainty to the fundamental aspect, so he would only hold it when the stock price is high, and he will not adjust it to the main position for the time being. Essence In the service industry, Jin Zicai is particularly optimistic about the medium and long -term logic of the hotel industry, and the air is second. In the future, changes in various aspects such as epidemics and policy orientation will be adjusted to adjust their positions.

Daily Economic News

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