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China Fund News Wu Juanjuan

Less than three months after being approved to open, Allianz Fund reported its first batch of products.

According to information disclosed on the official website of the China Securities Regulatory Commission, Allianz Fund, which was approved to open in April this year, reported the "Allianz Anyu Bond Securities Investment Fund" and "Allianz China Select Hybrid Securities Investment Fund" on July 14 and July 11 respectively. Currently, both products are in the "materials acceptance" status. This is the first batch of products reported by Allianz Fund, a subsidiary of German asset management giant Allianz Investment, after it was approved to open.

The reporter learned from the industry that Allianz Fund is preparing products in full swing. The company believes that under the current market point, investors have a higher probability of making money by investing in equity products. After the product is approved, Allianz Fund may be the first to launch a stock-oriented hybrid product, namely the "Allianz China Select Hybrid Securities Investment Fund".

Allianz Investments:

Favor high dividend and share buyback companies

German asset management giant Allianz Investments has always had a keen interest in the Chinese market. Recently, Allianz Investments released its third quarter outlook report. The title used in the report's analysis of the Asian market is "Asia: The Chinese market is exciting, is Japan a rising market?"

The report wrote that the long-term prospects for China's stock market are encouraging. After three years of sluggishness, the index return of China's A-share market has been positive so far this year. A-share valuations are at historical lows, and earnings growth expectations are positive. The A-share market is "undervalued." In addition, the government is actively taking action to promote economic growth and employment.

The report said that investors are advised to carefully select stocks. Market volatility may increase before and after the US election. It recommends focusing on companies that can provide higher returns: that is, companies that provide higher dividend returns and carry out share repurchases. It pointed out that companies that increase free cash flow by reducing capital expenditures are attractive. Allianz Investment focuses on areas that benefit from "autonomy and controllability", the popularization and innovation of artificial intelligence, including power grid infrastructure, semiconductor supply chain, artificial intelligence-related fields and nuclear energy.

As for other Asian markets, Allianz Investments said it is also optimistic about the Japanese stock market, which has become more attractive to global investors after undergoing major structural reforms.

Foreign-funded fund companies are planning new products

Fixed products are the mainstream

According to the issuance announcement date, since the second quarter of this year, among the wholly foreign-owned mutual fund companies, BlackRock has issued the equity product "BlackRock Excellence Voyage", with an issuance scale of approximately 390 million yuan (A and C shares are combined).

Fixed-income products are more popular. Morgan Fund, Manulife Fund, and Neuberger Berman Fund have all issued bond funds. Among them, Morgan Fund and Manulife Fund each issued one, and Neuberger Berman Fund issued two. The largest issuance of these funds is Manulife's "China Bond Green Inclusive Finance Priority Index", with an issuance scale of nearly 8 billion yuan.

Under the trend of green transformation, green theme funds are welcomed by institutional investors. Manulife Funds previously stated that based on China's "dual carbon" goals and green transformation needs, green theme investment fits the basic consensus of green and sustainable development. Policies continue to support and encourage financial institutions and non-financial enterprises to issue green bonds, improve the environmental performance of investment activities, and serve the development of the green economy. As rating methods gradually align with international standards, China's green bonds are expected to further enhance their attractiveness to international institutional investors, and the convenience of investment for overseas institutional investors will continue to increase, and the market prospects for related products are broad. Previously, Robeco's green bond fund also achieved good fundraising results. In June 2024, the "Fidelity Low Carbon Growth Hybrid Fund" was approved.

Editor: Captain

Review: Chen Mo

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