Basic Strategies For Checking Fund Investment

< p > < strong > (1) < a href= > //www.sjfzxm.com/news/index_cj.asp > > basic market < /a > analysis: economic worries are heating up and policies are expected to be strengthened. < /strong > /p >

In April, the global economy maintained a weak recovery trend. Low inflation rate is still threatening the economic recovery of the euro area, but the situation is improving, manufacturing and service industries are expanding, and the overall economic activity is becoming more active. P

The US is suffering from bad economic data in the first quarter, but the overall demand for the economy is still moderate. The improvement of the weather will help the US economy rebound in the near future.

Despite the impact of the geopolitical crisis, the global market is facing pressure from investors' preferences to continue to fall, but the healthy economic situation has laid the foundation for the global financial market.

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< p > > a href= "//www.sjfzxm.com/news/index_cj.asp" > China's market < /a > shows the opposite situation. In April, the economic boom was not prosperous, which made the market worried about China's economy and had a negative impact on China and even the Asia Pacific market.

In the short term, the trend of economic downward adjustment has not yet seen signs of improvement. The fine-tuning policy has verified and strengthened our anticipation of "policy upwards, hot spots turning to traditional pillar plates". It is expected that this phenomenon will continue for a long time in the future.

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< p > < strong > (two) fund investment strategy: continue to maintain a neutral risk, style bias value < /strong > < /p >

< p > we insist that the market will revolve around the "economic downward" and "policy upward" fluctuations. The short-term market will continue to oscillate under the pressure of economic downturn and IPO restart. Investment opportunities will mainly focus on the structural market driven by policies.

Of course, in the long run, low market valuation and the promotion of China's economic pformation have laid a foundation for long-term investment in the stock market.

To maintain the previous recommendations: high risk preference investors and phased investors pay close attention to policy themes, actively grasp short-term market structural opportunities, and balance the layout of low-risk investors and allocation investors, so as to grasp the long-term investment value of the stock market.

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"P > equity fund, it is suggested that investors continue to maintain risk neutral < a href=" //www.sjfzxm.com/news/index_cj.asp "> configuration < /a >, and follow the policy to grasp the market structural market.

In terms of portfolio style configuration, the risk of gem is more prominent under the pressure of IPO restart. It is suggested that investors continue to be cautious about dealing with funds with small market value and high valuation stocks headed by gem, focusing on the key investment board market premium fund, catering to the adjustment of economic policy in style and focusing on the blue chip value fund which is heavily loaded with traditional pillar.

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Less than P > fixed income fund, directional reduction and relaxation of foreign institutions entering China's bond market access conditions are conducive to the performance of the bond market, but it is difficult to conceal the depreciation of the RMB and the interest rate liberalization of the bond market constraints, under the background of the economic downturn, credit default risk continues to increase.

Therefore, short term market liquidity is easing or continues to boost the bond market, but the overall risk of the bond market is still greater than the opportunity. Investors are advised to maintain caution, pay attention to short term and high grade securities, and avoid low-grade securities.

On the other hand, the rising trend of bond market yields has broken down. Although the rate of return is still rising, coupon income is stable and long-term allocation value is prominent. Investors should pay close attention to the long-term allocation value of bond funds.

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In terms of < p > QDII, we maintained that the global economic gravity and investment focus moved to the mature markets of the US and Europe. The emerging economies were faced with the dual pressures of weak demand and capital flight.

Among them, the mature markets in the United States and Europe or there are short-term adjustment pressures, but with the market's digestion of the situation in Ukraine and the sustained recovery of the US and European economies, the corresponding market is still one of the most worthy investments.

The US economic growth has also boosted the strength of the US dollar, thereby suppressing gold price movements, and commodity prices continue to be threatened by the weakening demand of China and India, the global demand power.

Therefore, it is suggested that investors should maintain the previous allocation strategy, focusing on the main investment in the stock market QDII of developed countries, and properly avoid emerging market QDII and resource goods and commodity QDII.

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