Cloud Club | Focus on the growth assets of high -quality markets, how to lay out the ETF layout?

"On the basis of the CSI 300 growth index, based on the CSI 300 Index, 100 stocks with outstanding growth are preferably as target samples. In the sample selection, the company has selected good operating conditions, large scale, good liquidity, and active transactions. Listed companies. When market -style rotation, its configuration value is highlighted. "

"The ETF of the Silver CSI 300 Growth, it is the first batch of CSI's 300 -growth style ETF in the market. For the ETF of the growth style of the market, it belongs to a very distinctive broad -foundation product in the market. There will be an excellent performance. This is a tool for the growth style of investment in the broader market. "

——Stins Yinhua CSI 300 Growth ETF Fund Manager Wang Shuai

In the fourth quarter of 2022, the A -share market still maintains a trend. How will the domestic market liquidity change? The market's attention to style switching has continued to rise. What is the next investment value of growth stocks? Focusing on the growth prospects of core assets, how to lay out through ETF?

At 7 pm on September 14th, Wang Shuai, manager of the 300 -growth ETF Fund of Yinhua CSI, Zhang Jingjing, the chief analyst of China Merchants Securities, was a guest first Financial studio to discuss the relevant "focusing on the growth assets of high -quality large markets, how to through ETF layout". Topic, review the wonderful content together.

Where is the investment opportunity under market style switching?

The market's attention to style switching is constantly rising. How to judge the timing of style switching and the next investment opportunities? Come to listen to Wang Shuai, the manager of the ETF fund manager of the silver China Shanghai and Shenzhen 300 growth.

Wang Shuai: There are about two important factors for the division of style. One is the prospect of economic growth, and the second is the risk -free interest rate. First of all, the prospect of economic growth is an important factor affecting the style. The prospect of economic growth refers to the direction of economic operation. When the economic prospects are relatively good, the market is expected to be more optimistic, there are many industrial trends, and investors are more inclined to choose the targets with higher growth prospects and greater growth potential, which may bring a small plate style. On the contrary, if the industries of all walks of life are unclear, we will find that leading companies in all walks of life will have a stronger ability to resist downward pressure on the economy. At this time, we see that the market is more likely to show the style of the broader market. Therefore, the prospect of economic growth has an impact on the switching of large and small plates.

Second, there is no risk interest rate, which is relatively simple to understand. When the economy falls, the government will introduce a series of monetary policies to stimulate the economy. With the downside of risk -free interest rates, you will see those sections that can achieve long -term growth and have a certainty of long -term space, which will increase the valuation center with the downlink of risk -free interest rates. In this process, we will find that those highly elastic growth stocks often have very eye -catching performance. Therefore, when the risk -free interest rate is going down, high elastic growth stocks are more likely to perform well. In turn, this is the same. When the economy is overheating, the government will introduce a series of currency tightening policies as a whole. Under such circumstances, investors will choose some leading companies and value stocks to resist risks. Because these companies are in the stage of tightening monetary policy, their declines and ability to resist risks are stronger. Therefore, we have seen from this logic how changes in risk -free interest rates affect investors' choices for growth and value stocks.

Two points just shared: First, the prospect of economic growth, it affects the switching of large and small plates. Second, the risk -free interest rate affects the switching of value stocks and growth stocks. Generally speaking, these stocks growing up in the market are more suitable for the current market environment.

What is the uniqueness of the first Shanghai and Shenzhen 300 growth ETF?

What are the characteristics of the first Shanghai and Shenzhen 300 growth ETFs, what are the characteristics of Yinhua CSI 300 Growth ETF Fund? Wang Shuai, the manager of the ETF Fund Manager of the Silver CSI 300, shared his views.

Wang Shuai: In the industry distribution, first of all, in the index corresponding to the CSI 300 growth ETF, first, the industry distribution is very balanced, focusing on growth attributes. There will be electrical equipment and new energy -related stocks, as well as electronics and semiconductor stocks. There will also be some biomedical stocks. Generally, these industries represent the new direction of China's economic development, and the selected industries are all industries. It is particularly grown -up company.

第二，沪深300成长指数本身源自于沪深300指数，在沪深300指数里精选100支股票，就像刚才我给大家介绍成长因子体系一样，选择了主营业务增长率、净Three factors of profit growth and internal growth rate are scored in style, preferably 100 growth stocks with outstanding growth as samples. In the selection of samples, naturally selected those listed companies with good operating conditions, large scale, good liquidity, and active transactions.

Third, the market style is rotating at all times, and the value of this product configuration is prominent. Why do you say that? If you look at the long -term value, it has been introduced just now. Even in the short term, reviewing the past few months, growth stocks are already oversold. In the future, once the subsequent market shows a trend of shock rebound, it is easier for growth stocks to get out of a strong market in advance. Therefore, its configuration value is also worthy of attention for the index of 300 growth stocks.

Fourth, Yinhua's CSI 300 Growth ETF is the first batch of CSI's 300 -growth style ETF in the market. For ETFs with a large market growth style, it belongs to a very distinctive broad -foundation product in the market. If the style of recognizing the growth of the broader market will have an excellent performance in the future, this is a tool for the growth style of the investment market.

The adaptation of index funds and investment Xiaobai is higher?

Is it suitable to invest in index fund investment, or can people who need some financial knowledge can better use the index fund's investment tool? Come to listen to Zhang Jingjing, macro chief analyst of China Merchants Securities.

Zhang Jingjing: I have been working for 12 years. I am a professional researcher. I have a little picky about the logic of my research last year. More financial knowledge. But I believe that it is important to have common sense. I have a friend of a fund manager. He will say that he can't win his mother every year. His mother simply says his judgment on investment at the beginning of the year. One year, she said that it seems that there is a little bit of risk interest rates, is it possible to buy some bond funds. One year, she said that the stock feel so much rising, can it be profitable? This is a very rational foundation, but many people may chase and fall.

Therefore, in terms of professionalism, in this market, there are always things that can be learned and maintaining the state of learning at any time. You can never say that you are completely professional. Last year I studied something else. This year I have to study some new things, but we have to ensure some common sense. Once 20%and 30%have increased in a field, should it be a little cautious? It's not that you must stop profit, but a little cautious. If you have already adjusted a lot, you should be bold at this time. This is the so -called greedy when others are greedy, when others are afraid. It is difficult to be a professional fund manager, because it is compared with others every day. Instead, it may be more greedy than others and more fear than others. But for ordinary investors, it is often done.

On September 9th, the first Shanghai and Shenzhen 300 -growth ETF -Yinhua CSI 300 Growth ETF was listed and traded, which is also the way to lay out core asset growth tracks.

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