2021年10月26日

Public offering fund annual report has been released, 10 billion fund managers invisible heavy stocks surfaced

As of 15 o ‘clock on March 29, China Post Fund, CITIC Prudential, Zhonggeng Fund, Yinhua Fund, Ping An Fund, Ruiyuan Fund, Agricultural Bank of China, Invesco Great Wall, ICBC Credit Suisse, Essence Fund and other products of more than 20 public funds have disclosed their 2020 annual reports, and the “hidden heavy stocks” of Star Fund also emerged.

According to the regulation of the Securities Regulatory Commission, the fund should be disclosed in the quarterly report before the top 10 heavy warehouse shares, however before the top 10 outside the heavy warehouse shares, the fund does not need to be disclosed publicly, this part is not disclosed publicly holding the warehouse shares called “invisible heavy warehouse shares”.

In the annual report, in addition to the top ten heavy positions, Rui Yuan Fund’s Fu Pengbo also heavy positions in Focus Media, WeiGao shares, Linyi Manufacturing, TianRongXin, SiMo International, ShunShunOptical Technology, RenFu Medical, Dream Network Group, etc. Zhao Yizhong of ABC Alliance holds Yingliu shares, Jiayuan Science and Technology, Hangke Science and Technology, Xinquan shares, Zhenxin Technology, Enjie shares, Kangtai Medical, Tongyuan Environment, and Putailai; Invesun Great Wall Liu Yanchun’s invisible heavy warehouse stocks include Tianwei Food, Kanghong Medicine, Antu Biology, Shanxi Fenjiu, Changchun High-tech, Pelaiya, etc.

Last week with son in court against the Fu Pengbo let more people see the outside of work, 29, mixed Fu Pengbo management theory is far growth value disclosure of the annual report, he was in the top 10 holdings, also heavy positions in focus media, weigao shares, brought the profit making, day letter, think Moore ShunYu optical and international science and technology, people f medicine, monternet portal group, star, WeiNing health science and technology, more stocks not only appeared in the 2020 years ago, three results.

It is worth mentioning that the South Pole at the beginning of electricity a black swan, stock prices fell sharply, however, on January 4, electricity at the South Pole, according to the list of shareholders right away to grow value mixed holding 34.2654 million shares, electricity at the South Pole to the South Pole electricity 8 big tradable shares, the fund three quarterly reports in 2020 is not on the list, but on January 26, has been out of the top 10.

According to the just disclosed annual report, Fu Pengbo had held 34.2654 million shares of South Antarctica E-commerce by the end of the fourth quarter of 2020, ranking the 23rd in the mix of Ruiyuan growth value, which means that Fu Pengbo entered the company in the fourth quarter of 2020 on a large scale and most likely sold it at a loss.

Fu Pengbo said in the financial report that the medium and long term focus on three investment opportunities, one is the digital economy gradually penetrated into all areas of the traditional economy brought investment opportunities; Second, under the background of carbon neutrality, the supply side reform of cyclical industries and the investment opportunities brought by green energy utilization; Third, in the process of population aging and potential economic growth descending, we should refer to the historical experience of other developed countries to discover companies that stand out in this process.

“In addition to continuing to focus on core assets and industry leaders, we may explore potential investment targets in small and medium cap companies. Historical experience shows that good companies also start from a small size, but when the overall economy enters a low to medium growth rate, such opportunities are more challenging to explore.” Fu Pengbo may indicate the next investment direction.

By the end of 2020, the growth value of Ruiyuan mixed scale is 30.439 billion yuan. While many star funds have experienced the biggest pullback since 2021 due to the collective decline of group stocks, Fu Pengbo’s Ruiyuan Growth Value Hybrid is one of the exceptions.

Agricultural bank transfer principle, the product has also disclosed finished, the annual report of 2020 “grand slam” Zhao Yi besides the top 10 holdings, the management of the agricultural bank remit the principle of new energy theme selection, the agricultural bank, agricultural bank remit research send Richard industrial 4.0 also heavy positions in shares should flow, jia yuan science and technology, hangzhou can science and technology, the new shares, the core technology of vibration, express co, KTS medicine, tongyuan environment, tai pu han, China’s Great Wall and so on. At the same time, Ganfeng Lithium and Ningde Times together bought the most shares of the three products last year, while Enjie Lithium and Fulite together sold the most shares.

About 2020 precise layout, Zhao Yi said in the first quarter, after an outbreak impact leads to the fluctuations of the second quarter added warehouse is given priority to with photovoltaic (pv) of the global supply chain industry, made after the outbreak of impact attenuation income is good, at the same time as the industry fundamentals, in the fourth quarter and warehouse of the new energy automotive industry chain enterprises. At present, portfolio positions are still mainly concentrated in computer, electronics, machinery, new energy, medicine and other industries.

Looking forward to 2021, Zhao said that there are no big changes overall, and more attention is paid to the direction of “incremental”. One is the direction of demand improvement brought by technological progress, including new energy and 5G applications; The other is the direction of domestic substitution and strengthening of the weak board under the setting of “domestic big cycle as the main body and domestic and international double cycle mutual promotion”, especially the high-end manufacturing industry which mainly focuses on aero engine and semiconductor. In terms of portfolio allocation, it still focuses on the way of technology + consumption. In terms of technology stocks, it mainly focuses on 5G industrial chain, new energy and high-end manufacturing. In terms of consumer stocks, mainly medical services, mass consumer goods.

By the end of 2020, Liu Yanchun has managed 6 public funds, with a total scale of 78.323 billion yuan, among which Invesco Great Wall emerging growth mixed scale is 39.319 billion yuan, accounting for half of the total.

According to the financial report, by the end of 2020, the 11th to 20th largest stocks in the emerging growth mix of InvESCO Great Wall are Yili, Hikvision, Haitianwei, WuXi AppTec, Tianwei Food, Kanghong Pharmaceutical, Anto Biotech, Shanxi Fenjiu, Changchun Gaoxin, and Praya.

It is worth noting that many of the stocks mentioned above did not appear in the first three quarterly financial statements of Invisun Great Wall Emerging Growth Mixing in 2020, including Tianwei Food, Kanghong Pharmaceutical, Antu Biological, Shanxi Fenjiu, Changchun Gaoxin, and Pelaiya, which are highly “hidden stocks”. Liu Yanchun managed another Invesco Great Wall Dingyi mixture at the end of last year, the scale of more than 10 billion, Tianwei food, Kanghong medicine, Antu biological, Changchun High-tech, Peraiya is also its hidden heavy warehouse stocks.

“Equity investment should conform to the trend of economic development. We are more willing to look for investment opportunities in areas that are in line with industrial trends and where efficiency continues to improve. The increase of income level brings the continuous upgrading of residents’ consumption level, and China’s global competitiveness in many high value-added fields is also constantly improving. Some industries are already on the eve of the outbreak. There are plenty of details to track ahead, such as the strength of the domestic credit squeeze and the strength of the US housing cycle. But in the big picture, our country has been doing the right things over the years and has a lot of potential for growth. We have been very fortunate to invest in China, and with the right approach and consistent attitude, we will reap the rewards in the future.” Looking into the future, Liu Yanchun summed up.

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