How to seize market hot spots and choose funds? It is a good idea to layout by grading B, but choosing a fund B alone for investment is easy to lose weight. You can choose Grade B based on the following five principles, and choose 5 to make a combination, which is much more stable. However, when choosing these funds, you need to pay attention to a few points: try to select products with good liquidity and large scale; pay attention to discount and premium rates to avoid excessive intervention; it is best to adjust the combination in quarterly and semi-annual units.

Three principles for index selection:

The first choice is the industry and theme that can be laid out for a long time

The first choice is large-scale and good liquidity products

It is best to be in quarterly and semi-annual units

Adjust combination

Grade B shows the strong ability to make money in the bull market time and time again. If factors such as upside discounts are not considered, the net value growth rate is purely calculated. There are already Fuguo GEM B, Xincheng CSI TMT Industry B, Penghua CSI Media B, and Penghua Information B's revenue this year exceeding 300%. Even if we fail to catch the best B, the yield of all 59 equity Bs reached 146.25%, exceeding the return level of most retail investors.

Therefore, from this perspective, there is no more profitable effect in a bull market than leverage. If you are still optimistic about the future market, a cool "pure B combination" may be a good idea for layout. A reporter from China Fund News found that if you choose 5 B-levels to make a combination, each B-based accounted for 20% of the position, then these 5 can be found in terms of index, theme, scarcity, speciality, and high-performance types. On the one hand, it is best to choose a B-level position on the air outlet, and on the other hand, it is best to layout some scarce varieties to wait for the air.

It should be pointed out that for investors, when choosing a tiered fund, you can focus on indicators such as its underlying index, liquidity, leverage, and overall discount and premium rate.

First: Choose the best index

As a pure B combination in a bull market, the radical style is actually easier to outperform the market. Therefore, you might as well choose the best index and dance with the "bubble".

First of all, which B-level B performs this year have super strong performance. Data shows that the top five B-level B performers this year are Fuguo GEM B, Xincheng CSI TMT Industry B, Penghua CSI Media B, Penghua Information B , Fuguo CSI Mobile Internet B, the net value growth rates have reached 388.07%, 332.53%, 330.62%, 302.28% and 286.61% respectively since the beginning of this year. In this bull market that started since July 18 last year, Shenwan Lingxin Shenzhen Component Index B, Yinhua Ruijin, Shenwan Lingxin CSI Shenwan Securities B, China Merchants CSI Commodity B, and Fuguo ChiNext B are the yield rates The highest 5 products.

The Nuggets' best index has two ideas. One is to choose the wide-based index that has risen the most, which means that this index is at the forefront. Among them, you can choose from the ChiNext Index, SME Index, CSI Growth Index, etc., and the corresponding B-levels include GNext B, SME B, etc. The second is to choose an industry index with a faster growth rate. The most outstanding performance is related industries mainly based on TMT, such as TMT industry, CSI Media, Information, Mobile Internet , Military Industry, Environmental Protection Industry, etc. The biggest trend is TMT, you can focus on it.

However, when choosing the best index, one important factor needs to be considered, namely, the judgment of the bull market. Buffett has been recommending index funds for the past 50 years, and there are also sayings about buying index funds in the bull market. Many B-level index funds are leveraged, which means that "the rise is more fierce when the rise is higher, and the fall is faster when the fall is lower." China Fund News reporter From the perspective of multi-party market analysis, the mainstream view is that the bull market will continue, but the market has bubbled to varying degrees, especially growth stocks represented by the GEM. From this perspective, the most powerful index currently has to bear certain risks, and investors should adopt a volatile operation strategy of buying during market adjustments. If the index will increase its position every time it falls by more than 3% per day, it will increase its position. If the market sentiment is too excited, it may be better to reduce its position.

There is another idea that is worth noting, and the reverse thinking of the "most awesome index", the index abandoned by others can be regarded as the most awesome. In bull markets, stories of filling in valuation depressions are often staged. Indices with smaller gains, lower valuations, and cheaper index stocks this year can become a direction of focus. The B-level performance this year is China Merchants Shanghai and Shenzhen 300 Real Estate B, Guolian An Shuangxi B CSI 100, Penghua Securities B, Xincheng CSI 800 Finance B, Shenwan Lingxin CSI Shenwan Securities B, China Merchants CSI Securities companies B, financial and large-cap blue chip indexes can also be paid attention to as a powerful tool for buying at the bottom.

However, this bull market is mostly based on emerging industries. Compared with the layout of cyclical categories such as finance and real estate, some non-cyclical index reverse thinking may benefit better, such as layout of food, beverage, medical care, consumption and other topics, which is suitable for risk tolerance Investors with weaker capabilities, relatively speaking, the strongest indexes such as the ChiNext and TMT are suitable for investors with strong risk tolerance.

The second one: choose the most dazzling theme

A cool and exciting theme B, how exciting the increase is, so mainstream theme B should become a member of the group.

China Fund News reporter found from the mainstream voice of the market that the market has a very unified opinion on several major pandemic themes, including "Internet ", "Belt and Road", "State-owned Enterprise Reform", "New Energy", "Military Industry", and "Big Health" "wait. These all have corresponding B-levels, and investors can be more likely to prefer thematic layout.

Specifically, "Internet " involves a wide range of areas, and there are many B-level funds around the TMT industry, such as Xincheng CSI TMT Industry B, Penghua CSI Media B, Penghua Information B, Fuguo CSI Mobile Internet B, Shenwan Lingxin Electronics Industry B, Shenwan Lingxin Media Industry B, Guotai Shenzhen Stock Exchange; and the "Belt and Road" includes Zhongrong China Securities Belt and Road B, Penghua China Securities Belt and Road B, Penghua China Securities High-speed Railway Industry B , Anxin CSI Belt and Road B, Changsheng CSI Shenwan Belt and Road B; military industry includes Shenwan Lingxin CSI Military Industry B, Fuguo CSI Military Industry B, Penghua CSI National Defense B, Qianhai Kaiyuan CSI Military Industry B; New energy also includes Shenwan CSI Environmental Protection Industry B, Xinhua CSI Environmental Protection Industry B, Bank of Communications Certification new energy B, Fuguo CSI new energy vehicle B, Penghua CSI new energy B, etc.; state-owned enterprise reform includes the Southern CSI state-owned enterprise reform B, Fuguo state-owned enterprise reform B; big health includes the National Thailand Certification Medicine and Health B. Xincheng CSI 800 Pharmaceutical B, E Fund Biotechnology B, Qianhai Kaiyuan CSI Health B, etc.

Investment returns on different themes are achieved at both speed and slow. Many of these themes have been fully explored by the market. To lay out this type of theme B, you also need to pay attention to three aspects. First, it is best to choose a large theme that can be laid out for a long time. The general medical services, information technology, state-owned enterprise reform, the Belt and Road Initiative are often more continuity; second, the index tracked by the theme is very different, so it is best to choose a growth-oriented approach. Style index. Taking military industry as an example, there are CSI Military Industry Index, CSI Defense Index, and Military Industry Index. Their trends are related to certain degrees, but the specific targets covered are different, and the market performance is also different. Investors should do a good job of comparing before making a choice. Third, it is best to choose products from fund companies with strong hierarchical funds. This type of product is often larger in scale and has low liquidity risk; or choose products under fund companies with strong abilities.

However, there are certain risks in laying out a single theme. From the history of the A-share market, themes are often hyped one after another, which has certain timing risks. It is best to choose long-term themes. If you want to conduct band operations to capture theme rotation, it is more suitable for professional investors. Another way is to make a small group, and one B of each theme is laid out to share the theme market in the bull market.

The third one: choose the unique one

Some B-levels are unique in the field, with a little scarcity premium within a certain period of time, which can also become an idea for layout combinations.

The so-called unique target can actually be divided into two situations. The first is that the first theme or industry grading B in the industry often performs well in the early stages of listing. For example, when the reform of Fuguo State-owned Enterprises B was first listed, it saw several daily limit increases, and its performance was significantly better than that of other Bs. This situation often occurs.

A reporter from China Fund News found that there are currently some unique targets in the B-level market, such as E Fund Merger and Acquisition Restructuring Grading B, High-speed Railway Grading B, Coal B, etc., which are basically exclusive investment products. However, when investors plan this type of unique target, they should pay attention to the market trend when B goes public. If it coincides with the theme of crazy pursuit of the market, it will inevitably lead to a premium caused by short-term "supply and demand imbalance". The second is to pay attention to changes in the fund size. If the short-term increase is too high, it may affect short-term performance.

In the future, there are also some unique target grading B in the market that is worth paying attention to, such as sports industry grading, industry 4.0 index grading, smart home index grading fund, pension industry index grading fund... These will be issued in the near future. If you face the vent, you may get a big premium. However, it is best to choose "big theme" for grading B that layouts such uniqueness. Do not choose too subdivided fields. Often, the market attention is not high and the wind may not be very fierce. Moreover, unique targets are often quickly broken by the market, and caution is also needed.

The second situation is the uniqueness of a certain period of time. This can be divided into three situations. The first is to look at the discount and premium rate. For example, you can choose a variety with a higher discount rate. Generally, the overall discount rate exceeds 5% will have arbitrage opportunities. It is best to subscribe to this fund instead of level 2. Buy in the market. The second is to give Class A products that have higher agreed yields. Currently, some Class B products have higher agreed yields for Class A, which will bring higher leverage ratios than the general grade B, which is also worth paying attention to.

Fourth: Choose a special value B

After the sharp theme and industry B are all laid out, you can actually consider some special value B levels to enrich the combination in order to diversify risks.

At present, there are three categories of B with special value, and the first category is convertible bond B. Although bond products are often abandoned by the market in the bull market, convertible bond graded funds often perform outstandingly and are worth paying attention to. Data shows that the two convertible bonds B, China Merchants Convertible Bond B and Dongwu Zhongxin Convertible Bond B have increased by 131.77% and 71.19% respectively since the beginning of this year, and their offensiveness is not weaker than other products. According to an industry insider, the current opportunities for convertible bonds lie in two aspects. The first is that there are very few optional targets, which are often premium; the second is that the stock price of convertible bonds is rising steadily, which has also driven the company's slightest The rise of convertible bonds; and convertible bonds often have no limit on the increase or decrease, sometimes they are more fierce than stocks, and even a single-day net value increase of more than 10%. This type of product is more suitable for those with stronger risk tolerance. Professional investors.

The second is to invest in the B-level of Hong Kong stocks. This logic is very simple. The Hong Kong stock market has relative valuation advantages. The PE of the MSCI Hong Kong stock Chinese stock index is about 12 times, the PE of the MSCI emerging market index is about 14 times, and the Shanghai and Shenzhen 300PE It is about 21 times. Compared with global market valuations, Hong Kong stocks are still in a relatively low valuation area, and funds will inevitably flow to places with low estimates. Moreover, many analysts said that as A-shares continue to strengthen, the investment value of Hong Kong stocks has further highlighted.

Currently, there are two Hong Kong stock tier Bs in the market, namely Huitianfu Hang Seng Index B and Yinhua Hang Seng H-share B. The former is the Hang Seng Index and the latter is the Hang Seng China Enterprise Index. Investors can make arrangements and wait for the wind to come.

The third special value classification B is Ruifu Engagement, which is the only leveraged fund with a separate listing. According to Jisilu data, Ruifu Engagement is currently discounted by 9.882%, while the product expires on August 14, with an annualized discount rate of 51.471%. This is a B-level with only extremely high "safety cushions". However, investors need to pay attention to three points when deploying this fund: first, bear the risk of future market decline, and second, bear the "financing costs" of Class A for the two months until the expiration date. This may result in a small discount of about 2% before maturity of funds. Third, after maturity, Ruifu's priority shares will be paid in cash, while Ruifu's enterprising shares will be converted into Guotou UBS Ruifu Shenzhen 100 Securities Investment Fund (), and will continue to be listed and traded on the Shenzhen Stock Exchange. This means that Ruifu Aggressive may gradually reduce its positions before expiration, while data at the end of the first quarter showed that the fund's position was still around 95%. Therefore, in this process, Ruifu Aggressive's net value will actually gradually decrease due to the impact of stock market fluctuations. .

The fifth one: Take the initiative in the category of high performance

At present, there are few active B-class varieties and are not mainstream varieties. However, some of the products that perform well can also pay attention to them and become part of the combination.

Data shows that there are currently 4 active equity B-level funds, namely Southern Emerging Consumer Aggressive, Yinhua Consumer B, China Construction Bank Aggressive, and Xingquan Herun Grade B. They are basically established from 2010 to 2012. The latest two This type of product has been released less often.

Judging from the performance, the best performance this year are Southern Emerging Consumption Engagement and Yinhua Consumption B, with net value gains of 205.28% and 120.66% respectively since the beginning of this year. Both funds are in a growth style. The former is to choose listed companies with emerging consumer growth themes to invest and pursue long-term appreciation of fund assets. The top five heavily held stocks at the end of the first quarter were Jinya Technology, New Culture, Chinese Media, Blu-ray Development, Fengshen Co., Ltd., etc. The top four heavily held stocks have increased by more than 100% in the past March. However, the fund allocation is relatively balanced. The latter mainly invests in high-quality listed companies with sustainable growth potential in the large consumer industry. In the first quarter of this year, LeTV, Jinya Technology, Neusoft Group, Guests, Nopxin, etc., which are more allocations, and are more balanced in configurations.

China Construction Bank enterprising tends to be large-cap stocks, and the top five heavily held stocks are mostly financial stocks, such as Ping An of China, CITIC Securities, Minsheng Bank, Bank of China, and GF Securities. Similarly, the largest holding stock in Xingquan Herun Grade B at the end of the first quarter was Ping An, but it also allocated Jinmatis, Dinglong Co., Ltd., Dongfulong, Hailan Home, etc.

The most important thing when choosing active equity funds is to evaluate performance. Judging from historical performance, although Xingquan Herun Grading performed average this year, its performance was the best in 2014 and 2013, with returns of 40.38% and 59.21% respectively.

In addition, the choice is more important to look at the investment and research strength of the fund company. According to Haomai Fund, generally speaking, the overall performance of funds under fund companies is often in the top one-third, and their performance is first-class. At the same time, the length of time a fund manager, investment experience, and whether changes are frequent are important considerations. In recent years, more and more public fund managers have "left away". If a fund frequently changes its fund manager, its investment style may also continue to drift. It is best to choose a fund company with relatively stable personnel.