The "Super Week" Of Equity Fund Issuance Is Coming, And More Than 70 Billion Incremental Funds Entered The Market In July

The market is hot, and the distribution of public funds for active equity funds has not stopped.

On July 13, the new active equity funds of six companies, including Nanfang, Huaan, Cathay Pacific and Penghua Fund, were opened for sale on the same day. According to the news, the fund-raising scale has reached the upper limit of 50 billion yuan in the south, and the scale has reached a growth rate of over 30 billion yuan in one hour.

"This period of time A-share performance is better, we started the marketing work of the new fund last week." This week, a new fund public fund source said.

According to this week's news report, Kida only launched the economic rights and interests initiative in the 21st century. There will be new products of Huaxia, Jiashi, huitianfu fund and other head companies.

Judging from the market performance on July 13, the Shanghai Composite Index rose 1.77% on that day, returning to above 3400; the Shenzhen composite index, small and medium-sized board index and gem index also increased by more than 3%.

"Super week" of fund issuance

According to the 21st century economic report, 18 new active equity funds were issued this week (from July 13 to July 17), reaching the weekly high since June.

The 18 active equity funds launched this week involve 15 fund companies. Among them, Penghua, Nanfang and huitianfu funds have 2 new products launched this week.

In addition to the six new funds on July 13, July 15 is another high day of the week. There were 7 new funds subscribed on that day, including new products of harvest, Nanfang and Ping An fund.

For Penghua's new fund of 130 billion yuan, whether or not these new funds can be raised will still be competitive.

"There's been a lot of pressure lately." A public fund source said that his company will also launch new products in the near future.

As a matter of fact, last week's market price fell after a rush. On July 10, the Shanghai Composite Index closed down 1.95%. Under the stimulation of multiple news, the market attitude has also changed.

"Since July, the heat of the market has risen significantly, the transaction amount and turnover rate data of the main indexes have expanded, the valuation of the major broad base indexes of a shares has increased rapidly, and the market has shown signs of overheating. Since July 8, supervision has been intensively voiced to actively promote the legal construction of capital market. It is expected that the short-term market sentiment may cool down periodically, but in the medium and long term, the reform and legal system construction of the capital market will be conducive to the healthy development of the capital market. " The macro strategy Department of GDF pointed out in an interview.

From the perspective of short-term response, the market is still concerned about the need for adjustment.

"Under some short-term events, the market is greatly affected by short-term events. Judging from the economic and financial data in June, the economy is still in continuous repair, the repair area continues to expand, the growth rate of social finance is still accelerating, the resident deposits have increased significantly year on year, and the macro trend is still improving. At the transaction level, the change of hands in the field of science and technology has accelerated significantly, the market enthusiasm is high, and the market short-term risk has increased Boshi Fund chief macro strategy analyst Wei Fengchun said.

It is worth mentioning that among the new products issued this week, many funds have set the upper limit on the scale of fund raising, so as to guide the hot market sentiment.

According to wind data, this week, there are 10 new funds with 18 new funds, all of which have set the upper limit of raising scale. For example, southern core growth has set a scale cap of 5 billion yuan, Ping An Research Ruixuan has set a scale cap of 8 billion yuan, and Cathay Pacific Zhiyuan has set a scale cap of 30 billion yuan.

70 billion incremental funds entering the market

Under the background of intensive issuance of new equity funds and "crazy gold absorption", incremental funds entering the market are speeding up.

Galaxy securities data shows that last week (July 6 to July 12), 21 new funds were issued, raising 108.789 billion yuan, of which 8 new funds were issued by the stock, raising 75.168 billion yuan; in July, 30 new funds were issued, raising 120.541 billion yuan, including 10 new issues from the stock direction fund, raising 76 billion yuan; and since this year, 710 new funds have been issued, raising 1185.376 billion yuan, including A total of 3146659 million shares were raised.

"There is still an inflow inertia of incremental funds in the short term, and the new development fund is expected to continue its large-scale inflow in the short term. At the same time, the rising market heat and the stronger RMB will also attract hot money from overseas transactions to accelerate the return of RMB assets. In the short term, it is expected that the internal and external incremental capital inflow trend will continue. " CITIC Securities research points out.

Fan Tingfang, manager of Haifutong medium and small cap hybrid fund, believes that although monetary policy has been tightened marginally in recent years, the overall market liquidity is abundant, and the trend of residents' wealth allocation to equity assets has been accelerated, which will benefit the long-term bull market of the stock market.

According to the data of equity funds that have been issued in July, all five new funds were announced to be established immediately after the issuance. Among them, huitianfu mid cap value selection was announced to be established on July 8 after the end of the offering on July 6, and Penghua, another popular fund, was announced to be established on July 10 after the end of the offering on July 8.

However, at the current point, fund managers' pace of building positions for new funds shows relatively stable characteristics.

"The new fund will adopt a relatively balanced investment strategy at the initial stage of building a position, select industry leaders with first mover advantages and high-quality companies with high financial quality and reasonable valuation, and build a stock selection pool with balanced industry allocation ratio to minimize the impact of non systematic risks." Cathay Pacific Zhiyuan advantage of the proposed fund manager Zheng Youwei said.

In terms of allocation, Zheng Youwei said, "focus on industries that follow the economic recovery and improve quarterly performance, such as optional consumption, infrastructure investment in the investment chain, and some good companies in the big financial sector also have long-term investment value."

"From the data of the last two weeks, the volatility of the Shanghai composite index does not affect the structural money making effect, and institutional funds still dominate the market. Therefore, even if the index fluctuates significantly in the short term, the profit making effect still exists and the market structural opportunities will continue under the condition of high institutional capital certainty. " According to noan fund.