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Public and private investment director Qi Fasheng: It is a good time for "spring farming"

February 11, 2019 06:55
Author: Zhao Ultra
source: Shanghai Securities News
edit:Eastern Fortune Network

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Summary
[Public Private Investment Director Qi Fasheng: It is a good time for "Spring Farming"] Recently, reporters intensively interviewed dozens of mainstream public and private investment directors, and asked them to look forward to the investment opportunities for the new year. They generally believe that the previous large-scale correction has fully reflected the fundamental expectations, the current A-share valuation is in the bottom area, and the attractiveness of equity assets is increasing. At the end of the market, investors should be confident and wait for Nirvana to be born again.

For investors, the 2018, which continues to fluctuate in the stock market, is undoubtedly a challenging year. Stepping into 2019, the market ushered in a good start in January. After the mountain is heavy, will the market be clear?

Recently, reporters intensively interviewed dozens of mainstream public and private investment directors, asking them to look forward to investment opportunities in the new year. They generally believe that the previous large-scale correction has fully reflected the fundamental expectations, the current A-share valuation is in the bottom area, and the attractiveness of equity assets is increasing. At the end of the market, investors should be confident and wait for Nirvana to be born again.

Long-sightedness

The long-term and long-sightedness of the wind and material has become the consensus of current senior investors.China Merchants FundSha Hao, deputy general manager and head of equity investment team, said: "Now the market is once again at the historic bottom, and should pay more attention to the risk of taking the time." He said that institutional investors should firmly believe that the good companies of A shares in the next five years will It is the best configuration asset in the world.

In XingquanfundAccording to Xie Zhiyu, the investment director, the current overall valuation of the market is at a relatively low level in history, reflecting the market's expectation of the short-term profit growth of listed companies. From a long-term perspective, equity assets already have investment value, especially the valuation of some high-quality enterprises has a high cost performance on a global scale. “The continued inflow of overseas funds has already shown an attitude, and the attractiveness of the equity market is increasing,” he said.

InGF FundZhu Ping, deputy general manager, seems that the process of economic transformation and upgrading will inevitably encounter pains, but Nirvana will establish a new cycle after rebirth. He expects stock picking in 2019 to be relatively easy compared to 2018. The core is to find high-quality stocks and look for "flowers of hope."

InHSBC Jinxin FundAccording to Zheng Yuchen, the investment director, in the past few years, the capital market has been opening up to the outside world with unprecedented strength, and independent innovation has never received such unprecedented attention and support. Although the market still existsPerformanceUnfavorable factors such as decline and goodwill impairment, but the wind and material should be eye-catching. The implied returns of the current equity market are at historically high levels. It is the long-term investment.Hershey'sWaiting.

Cherish the opportunity of the weak market layout

The new spring is coming, and the winter has passed. Does this indicate that A-share investment will also transition from the “Winter Tibet” stage to the “Spring Farming” period? The senior investors interviewed agreed that the current is a good time for the layout.

  Southern fundDeputy General Manager Shi Bo bluntly said that the sharp correction in the previous period has already reflected the market's expectation of fundamentals. The next step is when rational investors explore opportunities and lay out A-shares in the long-term.

In the view of Wang Qing, president of Chongyang Investment, in the process of China's economic transformation and upgrading, the science and technology company that took the lead in occupying the commanding heights will be the "advanced force" of the structural divergence market. Modern service companies with excellent credibility and excellent management capabilities are equipped with both domestic and international products, consumer products companies with outstanding brand power, and leading companies in the weak cycle industry that are related to the national economy and the people's livelihood.

  Jianxin FundYao Jin, general manager of the equity investment department, said that with the economic restructuring, the A19 market in 2019 has many opportunities. In addition to high-end manufacturing, consumer services, and innovative industries, higher valuations should be given. Leading companies in many industries will benefit from increased investment opportunities and increased investment opportunities.

Wang Penghui, chairman of Wangzheng Assets, is optimistic about three investment directions: First, the opportunity at the macro level, the macroeconomic cycle will be upward again in the next three to five years, thus bringing a comprehensiveExponentialThe opportunity is to rise; the second is the opportunity at the meso level. With the economic transformation and upgrading of China and technological progress, the penetration rate of some important industries such as electric vehicles, cloud computing and health services is increasing, which implies good investment opportunities. Third, quality enterprises Opportunities, the competitive advantage of outstanding enterprises in the real economy is constantly improving, and its long-term value deserves attention.

(Article source: Shanghai Securities News)

                                (Editor: DF392)

 
 
 
 

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