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in an epic surge, the stock market ushered in the final battle of the third quarter, and the performance of public funds in the first three quarters was also released.

statistics from brokerage china reporters found that as of september 30, western gains strategy preferred a, western gains new power a, and sino-european era win-win a1 ranked among the top three in performance this year. among them, western gains strategy preferred a had a return of 54.31%. ranked first in terms of investment rate, there are more than 130 funds in the market with annual returns exceeding 30%.

especially in the past week (september 24th to september 30th), the stock market experienced a rare rapid rise, which also led to a sharp rebound in public funds. for example, the gf north securities 50 index fund soared by more than 45%, hsbc jinxinzhi funds such as zao pioneer and harvest gem's two-year fixed opening have also gained more than 40%, becoming "rebound vanguards".

the turbulent market is making the fourth-quarter performance ranking competition more exciting. many fund managers also revealed their next-stage layout strategies in interviews with chinese reporters from brokerage firms.

active equity funds soared as much as 54%

thanks to the rapid rise in the stock market at the beginning of the year and recently, active equity funds have been very proud this year, with a maximum increase of 54%.

according to wind data statistics, as of september 30, the western capital strategy preferred a and western capital new power a managed by he qi ranked first and second respectively in the year's performance list, with increases of 54.31% and 50.19% respectively since the beginning of this year. won the first and second place in the first three quarters.

the 2024 semi-annual report shows that he qi made a sharp attack in the second quarter of this year and increased its allocation to the non-ferrous metals and real estate industries. take the western gains strategy preferred a as an example. as of the end of the second quarter of 2024, the fund has heavily invested in resource stocks such as shengda resources, industrial silver and tin, and shanjin international, as well as real estate companies such as vanke a, gemdale group, yuexiu real estate, and i love my home. among them, vanke a, gemdale group, and i love my home all reached their daily limit on september 30, driving the western gains strategy select a to rise 7.43% in a single day.

following closely behind, ceibs era win-win a1 managed by liu weiwei, morgan stanley digital economy a managed by lei zhiyong, investment industry selection managed by li ying, and dongcai digital economy selection a managed by luo qing also all ranked in the first three quarters. gains of over 40% were achieved, with increases of 46.86%, 45.22%, 41.59%, and 40.72% during the year.

among them, the holding styles of ceibs win-win a1, morgan stanley digital economy a, and dongcai digital economy preferred a are all biased toward growth. for example, ceibs win-win a1 has heavily invested in shanghai electronics co., ltd., zhongji innolight, and new energy as of the end of the second quarter. technology stocks such as yisheng, as well as new energy stocks such as catl and sungrow.

the holding style selected by the investment industry is biased towards dividends. among the top ten stocks as of the end of the second quarter, there are four banking stocks including bank of communications, agricultural bank of china and industrial and commercial bank of china. at the same time, they have also increased their positions in stocks that have benefited from the relaxation of real estate policies. real estate development, building materials, home furnishing and other pro-cyclical industry stocks, such as poly development.

it is also worth mentioning that in this fund performance list, there are also some funds with heavy positions in hong kong stocks. for example, the returns of guofu fundamental select a and guofu xinghai managed by zhao xiaodong increased by 34.59% and 34.46% respectively. as of the end of the second quarter, guofu fundamental select a had heavy positions in tencent holdings, china overseas land & investment, china citic bank, china national offshore oil corporation, and postal savings bank of china. banks, china resources land and many other hong kong stocks. hong kong stocks have benefited from the resonance of positive internal and external factors in the near future and have rebounded rapidly.

overall, this year’s performance list of active equity funds is full of flowers. some people are investing heavily in real estate stocks and resource stocks because they are optimistic about economic recovery. others are seizing the wave of artificial intelligence and investing heavily in technology. some people favor defensive-style dividend assets, while others are investing in defensive-style dividend assets. it turned over quickly because of its heavy position in hong kong stocks, which have greater flexibility.

many funds rebounded more than 40% in a week

compared with the year-to-date performance, the performance of the last five trading days may be more interesting.

in the past week (september 24 to september 30), under the intensive introduction of a package of favorable policies, the stock market experienced a rare rapid rise. the bse 50 index and the chinext index surged 46.86% and 42.12% respectively. during the same period, the shanghai composite index and shenzhen composite index also rose 21.37% and 30.26% respectively.

the soaring market prices have led to a sharp rebound in public funds. many funds have rebounded by more than 40% in just one week. they have not only recovered the lost ground during the year, but also achieved a major change in returns from negative to positive during the year.

among index funds, benefiting from the sharp rise of the bei securities 50 index, many bei securities 50 indexes such as gf bei securities 50 index a, e fund bei securities 50 index a, ceibs bei securities 50 index a, and boshi bei securities 50 index a have recently the rebound exceeded 40% in a week, with the gf bei securities 50 index a rising by 45.5%, becoming the fund with the fastest rebound in the past week.

however, due to the previous large retracement of the nse 50 index, the overall return rate of these nse 50 index funds during the year was generally still negative.

among the active equity funds, hsbc jinxin intelligent manufacturing pioneer a managed by lu bin, harvest gem managed by wang guizhong, which will open in two years, and hsbc jinxin low carbon pioneer a managed by lu bin, have achieved average performance in the last five trading days. at more than 40%, many funds such as china europe growth enterprise market's two-year fixed opening a, huatai-pinebridge hong kong stock connect era opportunities, beixin ruifeng selected growth, everbright gem quantitative select a and other funds have also exceeded in the past week. a 35% increase.

it is worth noting that before this wave of market conditions, many funds had negative performance for the year, and with the surge in the past five trading days, the number of products with negative annual returns has shrunk sharply.

wind statistics show that there are 333 general stock funds with negative annual performance, accounting for 30% of the 989 products of the same type; 1,375 partial stock hybrid funds have negative performance during the year, accounting for 30% of the total of the same type. 30.25%. before september 24, this proportion was close to 90% (counting all shares).

how to invest in the market outlook?

after experiencing a rapid surge, where are the opportunities in the market outlook? how to lay out the next stage? in interviews with reporters from brokerages in china, a number of high-quality fund managers revealed their layout strategies for the next stage.

zhang jiansheng, the fund manager of boda shengyan mixed, said that he is more optimistic about general consumer and hong kong stock assets:

he believes that the recent series of unexpected policy combinations fully demonstrate the current emphasis and urgency on stabilizing economic growth. investors' expectations for corporate profits on the numerator and risk preferences on the denominator will increase, and the market is expected to usher in a period better than the end of 2022. in the better double-click stage, the core focus is on pan-consumption related to domestic demand, focusing on "core assets" that will be popular in 2020-2021 and have experienced substantial adjustments in the past three years.

in addition, after the fed cuts interest rates, china's core assets are expected to receive a return of foreign capital against the backdrop of low valuations and low allocation ratios. among them, hong kong stocks will have more flexibility to rise due to lower valuations and higher shareholder returns.

he qi said that looking forward to the market outlook, real estate and gold may become the main focus of a-shares in the future. on the one hand, with the federal reserve cutting interest rates by 50bp more than expected and the domestic economy still under pressure, real estate with countercyclical attributes and gold with weak economic attributes are expected to become the main line of a-shares, while u.s. bond interest rates are falling, global central banks are purchasing gold and institutional investment investors’ increased holdings of gold etf funds have become the driving force behind the rise in gold prices. sluggish gold stocks may see a valuation recovery amid rising gold prices; on the other hand, the federal reserve’s interest rate cuts will help open up domestic monetary policy space, and real estate policies are expected to exceed expectations. introduced to stabilize the economy.