September fund strategy the structure of the market continued to maintain a neutral position

In September the fund strategy: market structure market structure continued to maintain a neutral position of sustained attention – the Shanghai stock fund stock selection ability of Liu Yiqian Wen Jiaqi in the PPP sector market sentiment driven by the strong performance of the recent changes, A stock turnover further enlarged, but the overall market is still in the stock of the game, Bankuailundong fast state funds, surging, hope find a breakthrough. The summit of the G20 countries to reach a consensus to avoid competitive devaluation of currencies, while easing the effect of diminishing, structural reforms recently become the focus of the world’s major central banks easing the weakening trend of stage racing. The current economy has shown a slight improvement in the weak macro, micro situation, steady growth still need to continue to force to promote steady economic. At present, the infrastructure investment in fixed assets has become the main supporting point, above, and accounted for 60% of the total investment in fixed assets to absorb about 80% of the workforce in private investment growth since the end of 2015 into the downstream channel, this year continued to deteriorate, the growth rate in July is only 1/5 at the end of last year, the insufficient internal impetus driving economic growth. In the current loose monetary policy space is limited, the pressure of fiscal expenditure, the use of PPP model in the field of infrastructure to introduce private capital as an effective way to stabilize growth and activate private investment. Since entering the second half with policy support continue to overweight, PPP related industry continues to improve. Comprehensive influence of the economic and the liquidity of the market is on the pattern of the top and bottom under relative shocks, rising short-term market space is limited, but the stock performance is expected to continue to differentiate the continuous structural interpretation of the market. In September the global market will usher in a super June, the European Central Bank held the first meeting on interest rates and maintain the current stimulus unchanged, the market is waiting for the Federal Reserve and the Bank of Japan interest rate resolution at the same time, the OPEC meeting will again discuss problems of production of crude oil or frozen, market volatility intensifies, should pay attention to the tail risk. Major asset allocation in the current index of high and weak, while the plate is strong, some of the standard out of the independent market background, investors should pay more attention to asset allocation, pay attention to position control. Specific configuration recommendations are as follows: active equity funds, investors can configure 20% 50% fixed income fund, 15% QDII funds and 15% Monetary Fund; robust investor can be configured to 40% equity funds, 30% of the fixed income fund, 10% QDII funds and 20% Monetary Fund; conservative investors can configure 10% 55% of the equity funds, fixed income funds, 5% funds and 30% Monetary Fund QDII. Equity funds: continue to maintain a neutral position in the current full CSI and CSI 500 are in the vicinity of a year rolling average, in the long run, the opportunity to share the proceeds of the market has emerged. On the other hand, from the perspective of the interpretation of the market, the flow of funds to speed up, continue to look for hot spots, but subject to the overall market conditions and did not form the main line to drive the overall upward breakthrough. In this case, we recommend investors wait for the opportunity to continue to maintain a neutral position, selection of structure, focus on the real configuration with the stock picking ability of products. Prudent investors can focus heavily undervalued, high dividend rate.相关的主题文章: