Fund managers are busy changing positions. Looking at technology in the next round?
37 2019-06-17
On June 6, the Ministry of Industry and Information Technology officially issued 5G commercial licenses, and the relevant stocks rose by a large margin. Lu Yuechao, the fund manager of Haifutong‘s stock mix, believes that 5G and other fields may have a big breakthrough next year. It is worth noting that the companies that led the technology sector this year are basically the leading companies in the relevant segmentation areas. They are essentially different from the previous hot money speculations, and the plate heat may have a certain continuity.
Not only is 5G, but in the recent equity market, the self-controllable subject matter has also emerged from a wave of independent market, and the relevant funds have gained a lot. Choice data shows that nearly half of the top 20 stocks that have gained positive gains this month and have achieved positive returns are funds for science and technology innovation, including Caitong IC industry, China-Europe electronic information industry, Chuangjin Hexin‘s base price growth and Golden Eagle. Information industry and so on.
“Low valuation stacking incremental funds, coupled with growth, is currently the three main reasons for optimistic about technology stocks.” An equity investment director in Shanghai said that A-share technology innovation stocks have undergone a long “de-foaming” process, now The valuation has been reasonably low. Moreover, some companies have achieved steady growth in recent years and there is considerable room for development in the future. In comparison, the leading stocks in the consumer sector are not cheap.
“Funding is more friendly in the field of science and technology innovation.” The investment director said that “the first batch of science and technology theme funds attracted 120 billion yuan of subscription funds, resulting in a proportional placement, and the second batch of science and technology theme funds were sold out almost one day. With the issuance of the science and technology theme fund, investment opportunities in the technology field are constantly being explored. The existing high-quality technology listed companies in the A-share market are ushered in a value revaluation or a high probability event."
From what aspects do you grasp the certain opportunities for the A-shares in the S&T innovation? Lu Yuechao believes that the direction of cloud computing, big data, artificial intelligence, semiconductors and autonomous controllable, new energy vehicles is more certain.
"Compared with overseas markets, the leading companies in the food, medical, and consumer sectors and the US stock market related companies have similar or even higher valuations, while the A-share leading companies in the technology sector are still relatively small in market capitalization, and there is a lot of room for growth." Lu Yuechao said.
Another senior fund manager focusing on the TMT field is relatively optimistic about cloud computing, photovoltaic companies in new energy, and Internet-related new services. He believes that external pressure will force domestic enterprises to firmly follow the path of independent innovation, policy support will follow, and some enterprises with technology, conscious and prepared will form a substantial positive.