There are three advantages to fund investment: good timing, good drivers, good products
There are three good times for fund investment: good timing, good driver, good productsLightning strikes due to incorrect evaluation by corporate executives, and even lightning strikes due to scallop migration and starvation of pigs . Rolling down the skyray can only help investors smile proud of the stock market.investment.
But for ordinary investors, it is difficult to do this due to the limitation of the capacity circle. At this time, the most cost-effective option is to choose a good fund.
So what kind of fund is a good fund?
I think that the “good” of good funds is mainly reflected in three points: good timing, good “driver” and good products.
Good time: The market is estimated to be low ▲▲▲ The spring breeze is blowing over the tide, and the tide is just when the sails are sailing.
From multiple perspectives, it is now a better time for investors to set up the A-share market.
First of all, from the estimated level, wind data statistics show that until the close on August 7, 2019, the Shanghai Composite Index surplus returned to 12.
39 times, the historical median is 14.
The Shanghai Composite Index is trading at 35.
At the 74th percentile, initially, the Shanghai Composite Index was only 35 in history.
74% of trading days are higher than current estimates.
Looking further, looking back at the history of nearly 17 years since 2002 to June 2019, the current market estimates are significantly lower than the historical lows of 2005, 2008, and February 2016.
From the perspective of global estimates and comparisons, A shares are also relatively low, and their allocation value is prominent.
From a policy perspective, the central conference has pointed out that finance is an important core competitiveness of the country. With the support of regulatory policies, the development of these capital markets has entered a golden period, and the long-term investment value is good.
At the same time, equity investments are also in a new exchange period.
In the context of financial supply-side reforms, the break-in rate and the change in fixed income have gradually reduced the yield rate. Combined with the national strategic positioning of “housing and living”, domestic asset allocation will gradually shift to equity assets.of.
Good driver: GARP creates a powerful fund manager ▲▲▲ It is not enough to have a good time. A “good driver” who can manage good times is also important.
A fund manager is like a helmsman in a ship and a driver in a car. It is a real soul, especially for partial stock funds.
So what kind of fund manager is considered a “good driver”?
For example, Mr. Hong Liu, the proposed fund manager of Castrol Ruihong for three years regularly opening a hybrid fund (fund code: 501088).
(Mr. Hong Liu, Managing Director of Harvest Fund, Investment Director of Shanghai GARP Investment Strategy Group) In 2016, the fund managed by Hong Liu at that time won the 2016 Stock Fund Champion.
At the same time, torrent management products also won 2 Star Fund Award trophies and a Gold Fund trophy in 2017.
In 2018, torrent management products won the Star Fund Awards trophy again.
And in January 2019, the public funds under its management received Morningstar’s 3-year 5-star fund rating, and its investment management capabilities were recognized by professional institutions.
The achievement of outstanding performance is attributed to the GARP investment strategy, which is superior in torrents.
This achievement of the legendary fund manager Peter Lynch’s investment strategy is also applicable to A-share investment under the succession and innovation of Torrent.
According to Torrent, the core advantage of the GARP strategy is “buying growing companies at a reasonable price.”
From the perspective of inheritance, investment must adhere to the “Sanhao” stock selection strategy, that is, a good industry, a good company, and a good buy price.
From the perspective of innovation, it is necessary to improve quantification and other means, establish a comprehensive risk-reward indicator system, and re-establish risk budget parameters to improve the investment sharpness of the GARP strategy.
Investment is the realization of cognition. Rich investment research experience and resume will add points to fund managers.
Old drivers may not be good drivers, but good drivers are all old drivers.
Good product: “4P” dimension analysis of Castrol Ruihong ▲▲▲ There are 4P principles for fund products in the international market: philosophy (idea), people (team), process (process), performance (performance)
Below we analyze the investment value of Castrol Ruihong’s three-year open 深圳spa会所 fund from the above aspects.
Let’s look at philosophy (idea) first.
Castrol Ruihong’s investment philosophy is the GARP strategy, which has led to the well-known fund manager Peter Lynch.
Peter Lynch has managed the Fidelity Magellan Fund for 13 years and has an annualized return of 29%, using the GARP strategy.
The core advantage of the GARP strategy is “buying growing companies at a reasonable price”, which is the so-called “risk-reward ratio” of domestic investors.
The management team of Castrol Ruihong Fund also inherited and reformed the GARP strategy derived from Peter Lynch.
Look at People again.
In addition to Mr. Hong Liu’s proposed appointment as a fund manager, Castrol’s huge investment research team continues to empower Castrol Ruihong Fund.
Up to now, Harvest Fund has won the “Top Ten Golden Bull Fund Management Companies” award nine times, and has maintained a leading investment and research team.
Then comes Process.
A rigorous and scientific investment process can regulate the behavior of fund managers.
Castrol Ruihong has a complete stock selection and risk control process.
Taking stock optimization as an example, there are three steps to establish, track, and maintain the stock pool.
Step 1: Establish the stock pool to quantify the financial data of the report and use the subjective fine screening of the investment manager to generate the stock pool; Step 2: Track the stock pool to continuously track the companies in the stock pool and convert the financial data in the reportAs a result, the fundamental situation of the industry, combined with the judgment of the estimation, forms a real-time perception of the risk-benefit ratio of individual stocks.
By comparing the risk-benefit ratio of individual stocks in the pool, the combination with the highest cost is selected. The third step is to maintain the stock pool to regularly check the quality of the stock pool. Eliminating the industry or company fundamentals will make it difficult to estimate the risk-reward ratio.The investment risk-benefit ratio that improves the fundamentals has become more and more standard, achieving the metabolism of the stock pool.
Last is Performance.
As of the close of August 7, 2019, the SSE Composite Index surplus has reset 12.
According to statistics, when the Shanghai Stock Exchange’s P / E ratio is below 13 times, the fund’s initial offerings will achieve positive returns until the end of June 2019, and the highest return will exceed 13 times.
Therefore, the future of Castrol Ruihong’s three-year regular open fund is worth looking forward to!
(Data source: February 2019 report of the fund; deadline: end of June 2019) So no matter which dimension you look at, Castrol Ruihong will be worthy of the title of “good product”.