Original title: Give full play to the role of institutional investors to help the stable and healthy development of Beijing Stock Exchange. The first batch of 8 Beijing Stock Exchange-themed public funds was approved for registration. Source: Shanghai Securities News
In order to support industry institutions to develop and design new fund products around the Beijing Stock Exchange, the China Securities Regulatory Commission recently approved the registration of eight Beijing Stock Exchange-themed public funds. The Beijing Stock Exchange’s theme public funds adopt a two-year regular open operation method, and it is agreed that more than 80% of the non-cash fund assets will be invested in the stocks of the Beijing Stock Exchange, which can bring incremental long-term capital to the Beijing Stock Exchange.
The China Securities Regulatory Commission stated that deepening the reform of the New Third Board and the establishment of the Beijing Stock Exchange are important measures to implement the national innovation-driven development strategy and comprehensively deepen the reform of the capital market. It is conducive to improving the service coverage and adaptability of the multi-level capital market system to the real economy. It also expanded the investment operation space for public funds. The stocks listed and traded on the Beijing Stock Exchange are within the statutory investment scope of public funds, and public funds may invest in Beijing Stock Exchange stocks in accordance with laws, regulations and fund contracts.
The China Securities Regulatory Commission emphasized that fund managers should always adhere to the principle of priority to holders’ interests, actively assume their responsibilities and missions as a professional market investment force and an inclusive financial carrier, attach great importance to the investment-related work of the Beijing Stock Exchange, and firmly establish long-term investment and value investment. , Rational investment concept, continuously improve investment research capabilities and compliance risk control level, play the role of institutional investors in participating in the pricing of new shares of the Beijing Stock Exchange, secondary market transactions, etc., and help the Beijing Stock Exchange to develop in a stable and healthy manner.
It is understood that, in the next step, the China Securities Regulatory Commission will continue to support and guide the public fund industry to increase the supply of high-quality products in accordance with the general keynote of seeking progress while maintaining stability, continue to improve the level of value discovery and investment specialization, and better serve residents’ wealth management and the real economy. Financial needs.
A reporter from the Shanghai Securities News learned that the Beijing Stock Exchange theme funds under 8 fund companies, including China Guangfa Fund, China Asset Management, and Wanjia Fund, will soon start selling, and investors are expected to start subscribing as soon as next week.
On November 15th, the Beijing Stock Exchange is about to open. How can public funds seize the investment opportunities of the Beijing Stock Exchange? Wu Yuanyi, fund manager of the Growth Investment Department of GF Fund, said that the company has applied for the first batch of Beijing Stock Exchange theme funds, and has made comprehensive preparations for future participation in the investment of listed companies on the Beijing Stock Exchange, including investment and research resource allocation, system construction, and back-office operations.
In Wu Yuanyi’s view, in terms of investment logic and investment strategy, compared with the Shanghai and Shenzhen stock markets, the Beijing Stock Exchange’s listed companies are dominated by innovative small and medium-sized enterprises and “specialized, special-new” enterprises. “Therefore, we mainly use a combination of top-down and bottom-up methods to find opportunities. At the meso level, we pay more attention to industry research. At the micro level, we dig deeper and analyze the company’s management, company texture, and business direction, hoping to sink Research and select the best.” Wu Yuanyi said that in terms of new stock subscription, the stocks listed on the Beijing Stock Exchange have the characteristics of high investment threshold, large fluctuations, and unlimited sales of old stocks, which are quite different from the new stocks of other A-share sectors. A rational inquiry is required.
Wanjia Fund stated that, first of all, it is necessary to conduct a more in-depth and solid research on company fundamentals. In addition to studying industry and company public information, it also needs to pay close attention to corporate legal and financial compliance, business authenticity, and eliminate some basic risks. Secondly, it is necessary to conduct more research on the team and founders of SMEs. In addition, in order to study the core technical capabilities of an enterprise more down-to-earth, in addition to using the basic research methods of the secondary market, it is also necessary to learn from some good experience in equity investment.
Harvest Fund stated that the Beijing Stock Exchange’s selected two-year fixed-opening fund will focus on in-depth research and comprehensive consideration of the industry’s industrial policies, business models, entry barriers, market space, growth rate, etc., and fully consider the valuation level. Under the principle of “Beijing”, focus on high-quality listed companies on the Beijing Stock Exchange with good liquidity.
Many industry insiders suggested that ordinary investors can use public funds to participate in the investment of the Beijing Stock Exchange. Gu Xinfeng, senior vice president of the stock investment department of China Asset Management, believes that in view of participation in the Beijing Stock Exchange stock trading and new launches, the requirements for capital thresholds are not low. At the same time, compared with the Shanghai and Shenzhen Stock Exchanges, companies listed on the Beijing Stock Exchange are “smaller, earlier, and newer”, and their requirements for stock selection and research capabilities will be correspondingly higher. The 30% rise and fall limit also makes the market volatile. It could be bigger. Therefore, for ordinary investors, under the circumstance of matching risk tolerance, it may be a relatively better way to use the Beijing Stock Exchange theme public offering fund for layout.
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