9 days of 586 public fund research online
The epidemic situation continues to hinder the research of public fund funds. Beijing Business Daily reporters have noticed that since the beginning of the year, the fund has accumulated more than 586 times during the period of February 3-11, more than one month full month.Number of surveys.
Some adolescents have said frankly that research methods have generally shifted from baseline offline field studies to online teleconferences, and the research has become more targeted.
But at the same time, there are also difficulties such as information asymmetry, poor technical systems, and reduced communication effectiveness.
With the continued upward movement of early A-shares, fund companies are also gathering to study listed companies to prepare for subsequent investment research.
According to Oriental Fortune Choice data, since 9 hours from February 3rd to 11th, a total of more than 120 fund companies have studied 586 times.
Approximately, the total number of public fund surveys in January 2020 was 553.
A market analyst in Beijing pointed out that since the first day of the Shanghai market’s decline, the Shanghai Index has grown for seven consecutive trading days and stood firm at 2,900 points.
However, from the perspective of the overall situation of A shares, it is still in the bottom area and is expected to rise further in the future. In order to grasp the latest trends of the industry and the relevant situation of individual stocks, and participate in the survey and research of listed companies in the industry with fund managers.
Yan Yongzheng, a senior research fellow of the Nord Fund who has recently participated in the research of the pharmaceutical and catering tourism industry, expressed his views from the perspective of the impact of the epidemic.
He bluntly stated that he was mainly concerned about the spread of the new coronavirus epidemic and the government’s control measures that would affect the operations of listed companies. He hoped to understand the changes brought about by the epidemic to supply and demand in the industrial chain and the long-term and short-term operating rhythm of listed companies.
It is worth mentioning that from the latest data on individual stocks, the pharmaceutical and technology sectors are still the focus of fund companies’ attention.
For example, Oriental Fortune Choice data shows that during February 3-11, a total of 96 institutions participated in the survey of leading medical stock Mindray Medical.
In fact, the technology sector’s entrepreneurial Huikang, BOE A, and Topway Information were also surveyed by 53, 49, and 40 fund companies.
In fact, since 2019, institutions’ enthusiasm for the research of pharmaceutical and technology stocks has continued to rise.
Li Fei (pseudonym), a representative of the investment research department of a medium-sized fund company, said that since the overall decline of A shares in 2018, the estimates of many technology sector stocks have been underestimated, and they have been in the process of estimation and repair.
At present, the electronics and computer industry stocks in the technology sector are still mainly in a fairly reasonable estimation range.
With the support of policies and the prospect of the industry, the opportunity for investment to obtain excess returns is still very large.
As for the pharmaceutical sector, Hao Miao, Shanghai-Hong Kong-Shenzhen Fund Manager of Baoying Medical Health said that in this special period, the defensive performance of medicine as a necessary consumer product.
However, more investment is still focused on the medium and long term. The performance of high-quality pharmaceutical stocks is deterministic. Relative to the impact of macroeconomics, the pharmaceutical sector will perform well relative to the broader market.
”Although it has been under construction for more than a week, most of our employees currently work mainly from home, and meetings are conducted via online video calls.
“An electronics industry expert affiliated to a Shanghai fund company introduced it to a reporter from Beijing Commercial Daily.
He said that this is also the main way for fund companies to participate in research. By adopting the online communication model, the number of listed companies that can be received at the same time has increased, and accordingly, and the fund managers can get a general understanding of the concerns in a short timeIndustry and individual stock updates.
Yan Yongzheng also said that the research during the epidemic was different from the past, and the communication method was mainly based on the conference call mode. There was not much difference between the content and the core points of attention.
In addition to paying attention to the company’s long-term operating elements, the quantitative assessment of the short-term impact of the epidemic on the first and second quarters of 2020 is also the focus 杭州桑拿 of research.
After more than a week of online research, it was found that frankly, due to the common home office, more time can be used for centralized communication, and it can also be carried out in a short period of time through the discovery of listed companies.
Although the pertinence has been enhanced, some fund companies have said that some listed companies also have information asymmetry problems. In addition, the poor online support systems of some companies have directly led to the discovery of stuck or even dropped calls.
From the perspective of the above fund managers, for recent online research, due to the epidemic situation and upstream and downstream industry associations, some data may not be transmitted and updated in a timely manner. Listed companies should pay more attention to the symmetry and accuracy of information.
For fund managers and analysts, under the concept of value investment, they must also look at the operating status and performance of the industry or enterprise based on a long-term view, and should not be affected by short-term shortcomings.
Beijing Business Daily reporter Meng Fanxia Liu Yuyang