The Shanghai Index rebounded nearly 500 points in two months. Have you stepped on?Don’t lose, even Dong Chengfei has not been copied in this bottom

Since the end of April this year, this wave of rebound has rushed from 2863 to 3349 points. Near a big rebound of 500 points, if you step on the air, would you panic?

Don't lose, there are not a few private equity bosses recently, and even the fund leader Dong Chengfei is among them.

In fact, Dong Chengfei's empty or trace can be followed. In a roadshow in May this year, Dong Chengfei said that "I will pay more attention to individual stocks with deep value and high dividends in the short period of time." Li (that is, new energy, semiconductor and military), Dong Chengfei likes semiconductors, but under the nearly 500 -point rebound market this year, new energy and photovoltaic are the main force of rebound. The semiconductor sector has a weak rebound. Therefore, Dong Chengfei is not accidental.

Fund bigy leader Dong Chengfei also stepped on

With the recovery of the stock market, private equity began to return blood. Although there are a lot of investors in the air, there are more than retail investors who have rebounded in the air this time, and even the fund leader Dong Chengfei has stepped on the air. After the private, Dong Chengfei released his first series of products Ruijun Chengfei series on May 9 this year. At that time, the market had not come out of the panic of the bottom, and private equity issuance was relatively cold. Dong Chengfei's Ruijun Chengfei series products finally completed a scale of 4.5 billion yuan.

Dong Chengfei also followed his own products, and purchased a new fund for no less than 40 million yuan. However, the 4.5 billion yuan of funds stepped on the back of May. According to the data of private equity ducts, the net value of most private equity products of Dong Chengfei's products is still 1 yuan, and there is no sign of building a position.

However, Dong Chengfei Ruijun Chengfei Enjoy 2 Phase 2 Phase 2 as of the latest net value announced on June 17 was displayed at 0.9977 yuan, and the income loss has been 0.23%since this year. -The unit net value of Rui County Chengfu Phase 1 is 0.9973 yuan as of June 2. Between May 17th and June 2nd, the income of Ruijun Chengfei enjoyed a loss of 0.27%, and the CSI 300 index rose 2.09%in the same period.

At present, Dong Chengfei's private equity products with net worth changes have not changed much from the net value curve. It should be that the product does not have any position, and it still hovers near the water level line. Some people in the industry speculate that Dong Chengfei's products are currently in the construction period, the position is low, and it is running at the low position. Regarding the idea of ​​building a warehouse, Dong Chengfei also said during the roadshow that the new product will lay out a certain position under the conditions of safe pads. If you cannot earn a safe pad, you will make structural adjustments in the configuration instead of choosing to add positions.

In fact, it is not only Dong Chengfei who has stepped in the air. Many tens of billions of private equity bosses have been empty. For example, the private equity leader Dan Bin, under the rebound market, has a significant decline in the net value of some products under Bin. Eastern Harbor related people have previously responded to each reporter that at present, some products have been adjusted by positions. Some products have been greatly affected by US stocks because of their positions.

In addition, the 1021 tens of billions of private equity champion deposits have also been empty. Taking the active growth of accumulation No. 1 as an example, the product's income in the past month was 1.48%, while the CSI 300 index rose 5.68%at the same time. From the perspective of its net worth curve, in the past month, the net value curve has fluctuated less, and it is obviously operating in an empty or low position. It is also the same as the net value trend of some products.

There are reasons for stepping empty

In fact, the private equity bosses are not accidental. For example, Dong Chengfei has a trace to follow, and there is a reason for the sky. Dong Chengfei said in a roadshow in May this year: "What direction to choose, I am positioning is a transition period, which is a low return period. I will pay more attention to individual stocks with deep value and high dividends in the short period of time. These can have five or six points. Dividends are all commendable. If it is a real stretch cycle, I will choose some companies with a market value of 10 billion to 100 billion. "

"This time the target market value is small, and it is true that I will put my eyes on a small market value company. This is also a very realistic choice, because when the public offer, small stocks are not significant to me. Now that small stocks are meaningful to me, so my vision will lower. "

"From the perspective of the specific sector, it is still relatively long -term. In the past few years, the industry that everyone thinks has the opportunity is nothing more than photovoltaic, new energy vehicles, semiconductors, and military industries. . In these pull -up industries, I prefer semiconductor, because semiconductor companies will be larger than from the perspective of business models or from a competitive perspective. "

"In addition, photovoltaics are homogeneous competition. The leading enterprises of new energy vehicles have a certain bargaining ability, but the bargaining ability is relatively limited, so some are homogeneous. From the perspective of customers, semiconductors will still be stronger. Military industry will be more. Relatively speaking, I will be more worried that it is good in the past 5 years, but after 5 years, it is difficult to say that the prosperity is not the bottom, so I worry about this aspect. "

However, looking back, this round of A shares rebounded, the main force of the leading force is exactly the "new half army". Among them, the most dazzling one is the upstream and downstream and new energy vehicles, as well as the upstream and downstream industries of photovoltaic wind power. Chain company. For example, the market value of New BYD has exceeded the trillion -dollar level, and many new energy stocks have doubled from the bottom. The performance of semiconductors and military workers is relatively weak.

Is there a chance for new energy photovoltaic leadership?

For the new energy sector, Yang Delong, chief economist of Qianhai Open Source Fund, recently told reporters in WeChat that new energy is undoubtedly the most important driving force for this round of market rebound. Since the stage of the market on April 27 It has driven the popularity of the entire market and has also gained a good increase. New energy vehicles replacing traditional fuel vehicles are the general trend. From the perspective of future growth space, it is still worthy of attention. After a brief rest, new energy is expected to start a new wave again. Ma Cheng, chairman of Shenzhen Juze Investment, told reporters in WeChat that in the early days of stimulating consumption, in the context of the country's strong support for new energy vehicles, new energy vehicles in the capital market are rising and full of a bull market. BYD increased by 50%, and the market value once exceeded trillion. From the perspective of valuation, as of June 24, BYD's dynamic price -earnings ratio valuation was as high as 316 times, which was obviously foam.

However, the capital market often increases the future growth expectations of listed companies. From the perspective of BYD's first quarter financial report, the net profit growth rate is as high as 240%. From the perspective of BYD's sales in May, it will exceed 100,000 units in a single month again in a single month. The year -on -year growth rate was 152.8%, which means that BYD has a strong growth rate at present, and the high growth characteristics of the enterprise are obvious. Considering that the world is currently in the wave of new energy revolution, new energy vehicles are developing rapidly and huge growth space. As a brother of new energy vehicles in China, although there is currently a certain foam from the current absolute valuation, from the current absolute valuation, it has a certain foam, but from the current absolute valuation, from the current absolute valuation, it has a certain foam, but from the current absolute valuation, it has a certain foam, but from the fact that there is a certain bubble, but from it In the long run, this is the valuation that is not very overestimated, and the current high valuation of the company can be canceled by future growth.

However, Guangdong Xiaoyu Investment Li Shiyu told reporters in WeChat that the current increase in the new energy vehicle sector has basically reflected the favorable industry policy and monthly sales data of the previous period. The trend of the sector is still pushed by the hot emotions, and continues to inertia. In the later period, it is recommended that you do not go to the high level to chase these stocks that have increased too much.

Daily Economic News

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