Shanghai Securities May Fund Investment Strategy: Risk Neutrality

< p > < strong > the economic anxiety is warming up, and the policy is expected to be strengthened. < /strong > < /p >

"P > is affected by the geopolitical crisis, and the global market is facing the pressure of investors' preferences to continue to fall. But the healthy economic situation has laid the foundation for the global financial market.

< /p >

< p > April, the "bad season" of the economy has caused the market to worry about the < a href= "//www.sjfzxm.com/news/index_cj.asp" > China's economy < /a >, and has 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.

< /p >

< p > < strong > > a href= "//www.sjfzxm.com/news/index_cj.asp" > risk < /a > maintain neutral, style bias < a href= "//www.sjfzxm.com/news/index_cj.asp" > value < /a > < /strong > < > >

< 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.

It is suggested that investors with high risk preferences and phased investors should pay close attention to policy themes and actively grasp short-term market structural opportunities. It is suggested that a balanced layout between low and medium risk investors and allocation investors should be conducted to grasp the long-term investment value of the stock market.

< /p >

< p > rights and interests fund, maintain risk neutral configuration, grasp market structural market along the path of policy liberalization.

It is suggested that investors continue to be cautious in 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.

< /p >

On the whole, the bond market is still more risky than the P fixed income fund. Investors are advised to remain cautious, pay attention to short term and high grade securities, and avoid low rated securities.

Pay close attention to the long-term allocation value of bond funds.

< /p >

< p > QDII, in order to maintain the previous allocation strategy, it is suggested that investors should pay more attention to the stock market of the major developed countries, especially the QDII of the US stocks, and avoid QDII of the main investment emerging markets, and avoid the QDII of resources and commodities.

< /p >

< p > portfolio recommendation: we should take full consideration of asset allocation, industry structure and diversification of investment style under the guidance of the fund investment strategy of "continue risk neutral and style biased value".

This period will not be adjusted.

< /p >