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With the disclosure of fund quarterly reports, the latest fund holdings of institutions such as Central Huijin are revealed.

The second quarter reports of many funds including E Fund CSI 300 ETF, Hua Xia CSI 300 ETF, and Harvest CSI 300 ETF showed that Central Huijin increased its holdings in the second quarter.

Increase holdings of CSI 300 ETF

The second quarter report released by E Fund CSI 300 ETF shows that "Institution 1", a single investor holding 20% ​​or more of the fund shares, held 51.852 billion fund shares at the beginning of the second quarter. During the second quarter, the institution subscribed for 2.883 billion shares, and the number of shares held increased to 54.735 billion shares at the end of the second quarter.

Looking back at the holdings in the first quarter of this year, the institution increased its holdings of E Fund CSI 300 ETF by approximately 45.706 billion shares. The shares at the beginning of the period were 6.146 billion shares, and the shares held increased to 51.852 billion shares at the end of the first quarter.

In the 2023 annual report of E Fund CSI 300 ETF, the reporter saw that as of the end of 2023, Central Huijin Investment Co., Ltd. (hereinafter referred to as "Central Huijin") held 6.146 billion shares. From this, it can be seen that the "Institution 1" in the second quarter of this year of E Fund CSI 300 ETF is Central Huijin.

The "Institution 1" in the second quarter reports disclosed by Huaxia CSI 300 ETF and Harvest CSI 300 ETF is in a similar situation. The second quarter report of Huaxia CSI 300 ETF shows that the holdings of "Institution 1" increased from 19.886 billion shares at the end of the first quarter to 20.937 billion shares, and 1.051 billion shares were purchased during the second quarter.

According to the first quarter report of Hua Xia CSI 300 ETF, as of the end of the first quarter of this year, "Institution 1" and "Institution 2" held a total of 19.886 billion shares of the fund. The first quarter report of Hua Xia CSI 300 ETF shows that "Institution 1" and "Institution 2" held 1.102 billion and 1.791 billion shares of the ETF at the beginning of the period, respectively. According to the 2023 annual report of Hua Xia CSI 300 ETF, as of the end of 2023, Central Huijin held approximately 2.893 billion shares of Hua Xia CSI 300 ETF, ranking as the largest holder, and the shares held were exactly the same as the above-mentioned total shares at the beginning of the period.

The second quarter report of the Harvest CSI 300 ETF shows that as of the end of the second quarter of this year, Central Huijin held 19.544 billion shares of the ETF, of which 1.258 billion shares were subscribed in the second quarter.

Increase holdings of SSE 50 ETF

In addition to the CSI 300 ETF, the SSE 50 ETF was also increased by Central Huijin.

According to the second quarter report of Hua Xia SSE 50 ETF, as of the end of the second quarter of this year, "Institution 1" held approximately 28.792 billion shares of Hua Xia SSE 50 ETF and subscribed for approximately 564 million shares in the second quarter.

In the first quarter of this year, the institution subscribed a total of about 15.867 billion shares of Hua Xia SSE 50 ETF, and held about 28.228 billion shares at the end of the period. It is worth noting that the institution's total opening shares were 12.361 billion shares, the same as Central Huijin's holdings at the end of 2023.

A-share market valuations are attractive

Looking back at the market in the second quarter of this year, the A-share market rose first and then fell, and fluctuated. Since the second quarter, domestic policies to stabilize growth have continued to exert force, especially the intensive introduction of support measures in the real estate sector, and the expectation of improvement in fundamentals has become a key variable affecting the performance of Chinese assets. Affected by the marginal improvement of domestic macroeconomic data and the release of the new "Nine National Policies", which require the improvement of the quality of listed companies and the enhancement of the ability to stabilize returns, investors' risk appetite has continued to rise. From late April to mid-May, the main broad-based indexes of A-shares have performed strongly. The macro data released subsequently showed that economic growth recovery still needs policy support, and the overall economic recovery is not strong. Affected by this, the A-share market has continued to fluctuate and adjust since late May.

The manager of E Fund Management expressed his opinion in the second quarter report that the CSI 300 Index, as the core broad-based index of the A-share market, covers the leading enterprises in major industries of the Chinese economy. In the long run, the profits of these enterprises will grow accordingly with the growth of the overall economy. In the next stage, the macro-policy level has made it clear to organically combine the implementation of the strategy of expanding domestic demand with deepening supply-side structural reform, strengthen policy coordination, give full play to the effectiveness of monetary and credit policies, effectively enhance economic vitality, prevent and resolve risks, improve social expectations, consolidate and enhance the upward trend of the economy, and continue to promote the effective improvement of the quality of the economy and the reasonable growth of quantity. The current valuation of the A-share market is still at the historical bottom area, and is at a significantly lower level compared with the global market. It has good investment attractiveness in both vertical and horizontal comparisons.

China Asset Management said that in the second quarter of this year, risk factors such as geopolitical conflicts still exist, the global inflation decline is slower than expected, the Federal Reserve "stays on its hands", and central banks such as Sweden, Canada and the euro zone have cut interest rates first, and global monetary policy divergences are gradually emerging. Domestically, macroeconomic policies continue to exert force, and the overall economy continues to recover and improve. Equipment manufacturing and high-tech manufacturing industries above designated size have grown rapidly, demand for cultural tourism and other service consumption has remained active, and the labor market has become more active. International organizations and institutions have raised their expectations for China's economic growth, fully demonstrating the international community's confidence in China's economic growth prospects.

Harvest Fund believes that the manufacturing PMI in April this year continued the expansion trend in March. Thanks to the global manufacturing expansion, my country's exports rebounded significantly, increasing by 1.5% year-on-year, and the growth rate turned from negative to positive, improving by 9.0 percentage points from the previous month; imports increased by 8.4% year-on-year, and the growth rate also turned from negative to positive, improving by 10.3 percentage points from the previous month. Exports to the United States, Europe and emerging markets have all improved significantly. Under the influence of the unexpected economic recovery, market sentiment is optimistic and continues to rise. The manufacturing PMI fell slightly in May and June, below the boom-bust line, which may indicate that the effect of the previous stable growth policy has yet to be seen, and the market has begun to pull back after the previous rising stage. However, there are bright spots on both the production and demand sides: the production index remains expanding; the export resilience on the demand side is strong, the export chain industry continues to be prosperous, and domestic demand is supported by policies. With the promotion of home appliances going to the countryside and the replacement of old consumer goods with new ones, durable goods consumption may be boosted.

Source: Securities Times

Statement: All information content of Databao does not constitute investment advice. The stock market is risky and investment should be cautious.

Editor: Lin Lifeng

Proofreading: Yang Lilin

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