Live review | how to layout the year of the tiger investment?

2022-04-20 0 By

The following text is for The Nordisk Selected FOF fund manager: Zheng Yuan’s live content review of the Nordisk Selected FOF fund manager: You manage the Nordisk selected FOF fund manager: This product is open regularly for three months.Recently, it coincides with the opening period of foreclosure. From the perspective of previous operations, how did you adjust to cope with market changes?Zheng Yuan, FOF fund manager: Our goal is very clear, is to build this product into an asset allocation tool for equity funds in the whole market.Our investment goal is to achieve a medium or slightly better return level in the market on the premise of controlling the retracement and volatility below the medium level of the market, so as to provide a more stable investment experience.Based on our own market-wide data tracking, our performance in the third and fourth quarters of 2021 should be in line with the market average on the income side and well controlled on the risk side, with pullbacks and volatility well below the market average.From the point of view of specific operation, each time when the market style switch too fast, we can take the initiative to adjust to better avoid some risks;But at the same time, in the end of the pullback in the rebound, that is, the formation of the next round of hot spots, there is some difficulty in raising earnings.After several rounds of experience, we have made more refined treatment of the fund’s risk identification, style and assessment of the potential to continue to outperform the market.We have not made a particularly big portfolio adjustment in a downturn like the start of 2022.The main hope is that fund managers rely on their own ability to cope with market adjustment.We think we can be more efficient by not making changes to the funds in our portfolio and leaving the managers to deal with the market themselves.At the same time, it doesn’t allow us to miss out on some assets that should be allocated when markets stabilize and start to rebound.My judgment on the future market is that the performance of our fund is still worth looking forward to after the market stabilizes.In addition, I remember that in the middle of December last year, I proposed an important change to the nordisk FOF product this year: to reduce the holdings of racetrack funds and theme funds.After two years of observation and repeated thinking, we believe that thematic funds may be quite contrary to our current investment goals.At present, what kind of fund manager do you prefer?Zheng Yuan, FOF fund manager: We are looking for fund managers, relatively speaking, are relatively balanced, stable, they have a very high level of portfolio management.On an annual basis, it is able to deliver a report that matches our investment objectives.To be specific, the funds we currently hold are performing very well in risk control, and almost all are below the market average.Of course, we do not simply use the single index of maximum withdrawal to investigate, but use a large number of statistical methods to observe and evaluate the fund’s past performance in a very delicate way.In addition to risk identification, we also allocate a part of the ETF fund in the holding position.Etfs are known to be effective tools for responding to market changes.In times of market volatility, we usually make position adjustments of less than 10 points.When the market rises, we will consider deploying some thematic ETFs on the floor to increase the returns of our portfolio.Many investors like to buy into a public fund manager’s top 10 holdings.So for FOF funds, investors will prefer the top ten funds in the portfolio holdings.How do you see this?Zheng Yuan, FOF fund manager: Some of the funds we hold for a long time are generally very robust.We think, in fact, from the perspective of fund investment, as long as we are willing to hold for a long time, then the probability will be a net value of the process of continuous innovation.Of course, in the whole process, the main thing is to avoid a relatively large retreat.After communicating with many holders, I also found a problem: when the fund once there is a large withdrawal, generally do not want to hold.The common sense is that you didn’t eat the meat, and you got beaten.Therefore, from the perspective of our FOF fund managers, the allocation of some moderate fund managers’ products, even if the short-term return is not so radical, but in the long run, the overall return level is relatively good.There are also some position changes in the Nordisk select FOF category that you manage.How did you lay out each adjustment?Nord big category select FOF fund manager Zheng Yuan: from our point of view or hope to hold for a long time.But we also need to follow fund managers closely.Although on the whole we are very willing to trust them for a long time, when the investment ideas and styles of fund managers do deviate from the mainstream of the market, we will also make some adjustments.Secondly, every year there will be a new elite fund managers emerge, which will also have a group of fund managers after a period of growth, gradually show the characteristics of long-term stability.Then, such fund managers will also be dynamically included in our portfolio.Of course, we also do some cost performance comparisons.For example, some fund managers may not be as cost-effective as the new fund managers, so we will make corresponding replacement.But judging from the past period of operation, the proportion of this part of the situation will not be too high.In fact, we have been repeatedly looking for the data of fund managers in the whole market, after repeated analysis, we found that there are not many fund managers who can meet our requirements.At the moment, we think we’ve got almost every manager in the market that meets our requirements.But we see our heavy warehouse information is a few lag.What sectors do you see opportunities for ETFs in the future?Zheng Yuan, head of FOF Fund Manager: The first is a track with a double carbon theme.This almost reached consensus in the whole market.The so-called double carbon theme is photoelectric, wind power, new energy vehicles, energy storage and so on.Last year, raw material prices in the upstream of PPI rose too much, directly squeezing the profit margins in the middle and downstream.Sales of new energy vehicles, photovoltaic, wind power installed capacity are constantly improving.So we’re going to look at both midstream and downstream margins in these sectors as performing well compared to last year.Second, we find that there are clear expectations in the market for automobiles, electronics, or auto parts.The logic behind it is that the car from everyone to the car, the electrification of new energy, gradually to the intelligent.Cars are not just battery powered, they have a lot of smart features.Third is consumer electronics.Since the fourth quarter of last year, all major phone manufacturers have started to roll out foldable phones.In the case of our research, people have expectations for foldable phones.This involves two subdivisions, one is the production of flexible screens, and the other is one of the most important components in foldable phones — the hinges.At the same time, with the emergence of folding screen, the demand for screen will gradually increase, including the corresponding software upgrade, how to further obtain better user experience and so on, all of which will form a good stimulus to consumer electronics.The fourth is the theme of “metasurverse”, which is in the early stage but has great room for growth.Including AR, VR-led virtual reality, gaming communities, blockchain technology, high-bandwidth communications and high-intensity computing power on infrastructure demand.The fifth is agriculture.According to our understanding, the country attaches great importance to the degree of seed was greatly promoted.In addition to the investment opportunities in these five key sectors, there will be some opportunities, such as travel, that are gradually derived in part from the recovery of the pandemic.Of course, there are also many investors that the military industry fell too much, recently by some core listed companies for profit adjustment demand, resulting in military industry plate fluctuations.But in the long term, we don’t see any major problems.Disclaimer: The copyright of this content belongs to Nord Fund Management Co., LTD. All for reference only.This content may not be published, reproduced or modified in any form without written authorization from Nordisk Fund Management Co., LTD.This content is based on publicly available information that Nordisk Fund Management Limited and its researchers believe to be credible, but Nordisk Fund Management Limited makes no warranty as to the accuracy and completeness of such information, and the information or opinions expressed do not constitute investment advice in the securities or classes described,Nordisk Fund Management Limited also disclaims any liability of investors arising from the use of this content.Risk tip: any investment is associated with risk, the higher the expected return also means the higher the investment risk.Before you invest in any financial product, you must make a reasonable allocation of your assets according to your own capital status, investment term, return requirements and risk tolerance, and realize investment returns under the premise of controlling risks.Investment is risky and must be chosen carefully.