QDII fund layout expands further and over 90% of products gain positive returns during the year
As the pace of domestic financial industry opening up continues to accelerate, while foreign inflows continue, domestic asset management agencies have also broadened their sights abroad.
Scale, the market of public funds in the field of external market products, that is, the number of QDII (Qualified Domestic Institutional Investor) funds gradually increased, but mainly concentrated in US stocks, Hong Kong stocks, other markets are relatively large, and even no product layout.
Recently, the first theme fund in the public fund industry to invest in the Vietnamese market was officially approved, and the market’s attention has again focused on QDII products.
On December 17, a reporter from Beijing Commercial Daily was informed that the first domestic theme fund dedicated to investing in the Vietnamese market, Tianhong Vietnam Market Equity Securities Investment Fund (QDII), was approved on December 16.
It is understood that the fund is an actively managed fund, and the benchmark for performance comparison is the Vietnam VN30 index return (converted using the estimated exchange rate) * 90% + RMB demand deposit interest rate (after tax) * 10%.
A market analyst in Beijing said that Vietnam’s population is relatively young, its urbanization rate is gradually increasing, and its domestic consumption potential is large.
Driven by export growth and the influx of foreign countries in recent 厦门夜网 years, Vietnam ‘s economic growth momentum is redundant, and it is one of Asia’s accelerating economies.
With the rapid economic development, the Vietnamese stock market has performed well.
With the establishment of the fund in the future, it will also provide breakthrough facilities for domestic investors to participate in the Vietnamese market.
In fact, after the approval of the first public fund to invest in the Vietnamese market, the QDII fund’s overseas market coverage was further expanded.
Prior to this, most of QDII funds’ products were concentrated in the US market. At the same time, a few products were targeted at the German and Indian markets.
In May this year, the first four ETF products invested in the Japanese market were approved and quickly established in June.
With this release, the number of countries with single market product offerings from publicly-funded QDII funds in developing countries has also increased to five.
It is worth mentioning that, thanks to the overall improvement in the global market, QDII funds also generally achieved positive returns during the year.
According to Oriental Fortune Choice data, as of December 17 this year, of the 239 QDII funds (divided by calculation) that can be counted, 236 products have positive returns, accounting for 98 of the total.
Among them, China Mobile Mobile Flexible Allocation Hybrid (QDII) has the highest RMB yield in the year, reaching 48.
During the same period, E Fund S & P’s US dollar exchange rate (QDII-LOF) and Huitianfu Global Consumer Industry Hybrid (QDII) RMB A also exceeded 40%, respectively 45.
79% and 43.
However, from the perspective of specific product types, the year-round returns of QDII funds with different themes also differ significantly.
QDII products such as technology, consumer, medicine and other themes generally achieve high yields.
Oriental Fortune Choice shows that, as of December 17, in addition to some of the products mentioned above, Huaxia Global Science and Technology Pioneer Hybrid (QDII), Shangtou Morgan China Biopharmaceutical Hybrid (QDII), and Huitianfu Global Healthcare Mix (QDII)The average net value is also over 30%.
Under the ranking, due to the poor performance of oil and gas prices in the Hong Kong stock market this year, related themed products came in at the bottom.
For example, Huabao Standard & Poor’s Oil & Gas Upstream Shares (QDII) ‘s net worth fell 14 during the year.
35%, the bottom of the ranking, Nuoan oil and gas energy stocks, Huitianfu Hang Seng Index classification and other QDII fund returns are also less than 5%.
To a few people, 2019 is a year of relative change for Hong Kong stocks.
GF Securities mentioned in relevant research reports that the key words of Hong Kong stocks in 2019 are “large loose, high change, narrow gains”, and the trend is “three twists and turns”; in terms of structure, polarized style, consumption, value of technology outperforming, and local stocks underperformingThe high dividend strategy was worse than expected.
However, GF Securities also stated that under the trend of “black swan” gradually fading in 2020, the impact of external risk events on Hong Kong stocks has declined marginally, and the extremely high “offshore” risk premium is expected to fall, opening up the space for estimated upward return.
It is recommended to lay out three main lines. The first is the underestimation under the return of value. Overweight banks, automobiles, gambling, and attention to domestic property stocks. Estimation and high valuation are the core.
In essence, “anti-diabetic” varieties are dominant, but they need to be carefully selected to evaluate costs, optimistic about medicine and insurance.
In addition, differentiated technologies, from “hard technology” to “soft services”, are over-equipped with Internet and software services.
As for the future trend of overseas markets, Chuancai Securities said in a recent research report that it is expected that the global economy will remain in a low-growth mode under a low interest rate environment in 2020, or it will rebound slightly in 2019.
In the US market, it is expected that the economic growth rate of the United States will further accelerate in 2020. The Fed will most likely continue its loose monetary policy. Will there be any adverse new round of fiscal policy that will have a significant impact on the future development of the US economy?
Geopolitical risks such as US political uncertainty may have a certain impact on the US economy in 2020.
From the perspective of the Japanese market, Japan ‘s exports are expected to be weak or boosted by the stimulus from the Japan-US trade agreement and Japan-US digital trade agreement adopted by the Japanese Senate.
At the same time, Japan is likely to continue its loose monetary policy in 2020.However, the composition of the manufacturing industry has changed, sluggish consumption, an aging population, and negative population growth are still important factors that have a long-term impact on the Japanese economy.