October into the end, a large number of "smart money" in the market volatility, through the ETF counter-trend layout. Choice data show that as of October 28, this year's October equity ETF share of the total growth of more than 48.7 billion shares. Among them, broad-based ETFs such as the Sci-Tech 50 ETF and the SSE 50 ETF, as well as ETFs in sectors such as pharmaceuticals, wine, food and beverage, and military industry, have seen more net inflows.
"Smart money" through the ETF into the market
Choice data show that, as of October 28, since October equity ETFs combined share growth of more than 48.7 billion shares, if we exclude the QDII fund, share growth is also more than 16.4 billion shares. The share growth is also more than 16.4 billion shares if QDII funds are excluded.
Longer time to see, since September this year, the A-share market volatility increased, but the funds are in the market shock actively channel ETF into the market. Data show that since September, equity ETF share growth of more than 86.4 billion.
Industry insiders believe that ETFs, as one of the investment wind vane in the market, have always been of concern to investors. As ETF investors are relatively more mature, they tend to buy against the trend, which is also seen as investors' optimism for long-term opportunities.
From the recent viewpoints of major fund companies, they also generally said that the current or moderate optimism, can be in the fluctuations in the search for suitable opportunities to layout.
In the face of the current A-share market, Guolian Fund believes that the economy as a whole is slowly repairing, from the earnings, risk-free interest rates and risk premiums, the three main factors, all constitute a certain support for the stock market. First of all, the economic repair of corporate earnings support; Secondly, the moderate easing of policy will promote the risk-free rate to remain low; Finally, the market risk premium has been at a historically high level, the current market has implied more pessimistic expectations. Combining the above factors, the market may usher in a trending uptrend opportunity once uncertainty concerns ease.
Tan Li, director of value style investment at Harvest Fund, also believes that China's economy is resilient, and with the introduction of some policies, the economy is more likely to bottom out and rebound, and you can be appropriately optimistic at this time. For the present, the market opportunities that can be seen are becoming more and more.
Part of the industry favored by the funds
In addition to the 50 ETF, SSE 50 ETF and other broad-based ETFs, since October, pharmaceuticals, wine, food and beverage, military and other industry ETFs have also been "absorbing gold".
It is worth noting that from the middle of last year to date has experienced a long period of adjustment of the pharmaceutical sector, the recent market attention to improve, the funds have also borrowed industry ETF funds to accelerate the entry.
Data shows that the share of Efonda CSI 300 Pharmaceuticals ETF has increased by more than 2.9 billion shares since October, and the share of Warburg CSI Medical ETF and Forever Win CSI All-Index Medical Devices ETF have increased by more than 1.2 billion shares and 1 billion shares, respectively. Calculated on the basis of the average price of transactions in the range in October, these three products have gained net inflows of more than 1.3 billion yuan, 600 million yuan and 700 million yuan, respectively, during this period.
In addition to the pharmaceutical sector, funds are also looking for other opportunities in the volatility. since October, Penghua CSI Wine ETF share increased by more than 1.4 billion; some food and beverage ETF and real estate ETF share increased by more than 500 million, in addition to the military ETF also increased by more than 400 million.
Nearly 1 month of institutional research and ETF capital movements also overlap. Choice data show that the medical device industry, the number of institutional visits more than 1,573 times, ranking first in the industry. Specifically, Myriad Medical, Kai Li medical October to accept institutional research are more than 300 times, in addition, the new Thunder Energy, Xing Sen science and technology, etc. Recently also accepted hundreds of institutional research.
Looking ahead to the market, Zou Hui, director of equity research at the Industrial Fund Research Department, is optimistic about four major areas of opportunity. First, combined with the current macro environment and performance of listed companies, he first optimistic about the investment opportunities in the field of resources, including crude oil and coal; second, high boom growth, mainly optimistic, including photovoltaic, offshore wind power, defense industry and semiconductor equipment and other subsectors; third, part of the consumer and the travel chain companies, from the supply side, such as cosmetics, express delivery and other sectors of the competitive landscape is gradually optimized; Fourth, the pharmaceutical sector, due to the catalyst of the medical equipment renewal loans, superimposed on the part of the equipment procurement efforts better than expected driven by the valuation of the pharmaceuticals in the very low points worth paying attention to.