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after the hong kong stock technology index surged 17.38% during the national day week, the implied income of the net value of hong kong stock theme funds is expected to shake the overall market performance ranking.

on october 4, after the closing of hong kong stocks, the hang seng index rose 10.20% during the national day week, and the hang seng technology index's weekly increase reached 17.38%. this drove the heavy holdings of hong kong stock theme funds to soar across the board, and is expected to have a negative impact on public funds after the holiday. the net worth and ranking have a major impact. currently, the fund with the highest annual return in the entire market holds only about 5% of the hong kong stock position. however, many a-share theme funds and hong kong stock theme funds with equally high performance rankings may have higher hong kong stock positions. this makes hong kong stock positions an important weight in determining the ranking of public funds across the market.

hong kong stock fund performance implies astonishing returns

brokerage china reporters noticed that the top gains in the hong kong stock market this week were mainly concentrated in technology-themed tracks such as mobile internet, saas software, games, ai large models, information technology, etc. fubo group, a unique holding of huatai-pinebridge fund, single-week soaring 52.72%, digital advertising and marketing company yisou technology has a single-week increase of 76% after the close, financial information technology company jiufang intelligent investment has a single-week increase of 83.3%, china life security, huaan fund, and china post fund have heavy positions in huahong semiconductor hong kong stocks rose 47.2% in a single week. in addition, sensetime, a large ai model company that has heavy positions in e fund and boshi fund, rose 45.21% in a single week, meitu, a company with a heavy position in many hong kong stock products under southern asset management, rose by 28.2% in a single week, and chalk, a leading internet education company in a heavy position of harvest hong kong internet fund, rose by 28.2% in a single week. an increase of 21.09%.

considering that the heavy holdings of hong kong stock funds rebounded at an alarming rate during the week of the national day, industry insiders speculate that this will not only affect the performance of the post-holiday market to a great extent, but may also mean that a-share funds with more hong kong stock positions and the main the net value income of hong kong stock themed funds will gain a certain first-mover advantage in the performance ranking of market-wide funds.

wind data shows that the current highest fund return ranking in the entire market is currently occupied by a-share theme funds. the return rate of the western gains strategy select fund this year is 54.31%, which is currently the highest fund return in the entire market during the year. as of the end of june this year, this fund has the highest return. the fund only has about 5% of its hong kong stock position. as of the end of june this year, the hong kong stock positions held by huisheng leading select fund, penghua xinyuan value fund, and southern china emerging fund, which are also ranked high in performance, were 26.67%, 21.72%, and 61% respectively. this means that the above-mentioned funds the hong kong stock position will benefit to a large extent from the surge in hong kong stocks this week, stimulating the return performance of the fund's net value, thereby gaining a better ranking competitive advantage in the context of the closure of the core positions of other fund products.

qdii’s annual income is expected to be all red

the pharmaceutical track fund, which has suffered the worst decline in the market, may be able to largely offset its losses for the year due to the hong kong stock market this week.

take qdii funds as an example. currently, only a few qdiis in the pharmaceutical track among all products still have net losses during the year. for example, morgan china biopharmaceutical fund’s loss during the year narrowed to 13%, and e fund’s global pharmaceutical biotech fund’s loss during the year narrowed to 5%. , southern hong kong stock pharmaceutical industry fund's loss narrowed to 3% during the year, and judging from the increase in the core holdings of the above-mentioned fund products this week, the implicit net income of the related funds during the year may have begun to turn positive.

taking the largest holding of morgan china biopharmaceutical fund as an example, colombote biotech rose as much as 23.33% this week. excluding monday's stock price performance, it still rose by as much as 18%, and currently morgan china biopharmaceuticals the fund's 13% loss during the year is only disclosed based on the latest net worth on september 27. in addition, the southern hong kong stock pharmaceutical fund, which also has heavy holdings of colombo taisheng and innovent biologics, will also have a net value boost due to the rebound of hong kong pharmaceutical stocks this week, allowing this pharmaceutical fund to achieve a positive performance for the year with a loss of 3% on september 27. .

it is worth mentioning that considering that the current qdii fund products still have a small number of losses during the year, and the losses of a few loss-making products are smaller than those of a-share theme funds, the current hong kong stock market means that all qdii funds are expected to achieving positive returns during the year, data shows that currently less than 20 qdii funds are still losing money during the year, and the vast majority of qdii funds that are still losing money during the year have lost less than 10%.

obviously, the rising prices of chinese assets in the hong kong stock market may become the core driving force behind the success of all public qdii members.

medicine may become more powerful

taking into account that the pharmaceutical track is expected to be driven by more industry policies and event-related events in the clinical, approval, and listing aspects of individual stock products in the fourth quarter, at the same time, during this round of market rebound, focus is on looking for stock selection logic of oversold stock prices and oversold funds. , or it may also mean that the pharmaceutical track, which was the most heavily sold by institutional investors in the early stage, is expected to play the role of a latecomer in the subsequent rebound.

ye zhennan, fund manager of the southern hong kong stock pharmaceutical industry, believes that the core strategy in the current hong kong stock pharmaceutical market is to focus on exploring stocks with scarcity value among listed companies in the pharmaceutical industry in the hong kong market, paying special attention to the leading assets of each sub-track, and taking a balanced consideration of their growth potential. , operating stability and cash return rate, etc., we strive to bring together high-quality medical industry companies listed on the hong kong stock market to fully share the growth of these companies, and on the basis of complying with the investment scope regulations, the fund portfolio will continue its traditional style allocation , still mainly focus on three ideas for allocation, seizing the direction of comparative advantages among hong kong stock pharmaceutical assets, including leading innovative pharmaceutical companies, traditional pharmaceutical companies with dividend attractiveness and cost-effective valuation, specialty medical services, and consumer healthcare.

ye zhennan said that some recent innovative drug policies have given the fund more confidence in investing in some pharmaceutical sub-tracks, and especially in the fourth quarter, there will be more events that are expected to further reveal its value. at this time, the layout will have a winning rate in the long term. higher decision-making. in addition, we have also conducted in-depth research and corresponding allocations on listed companies in the traditional chinese medicine, raw material medicine, pharmacy and other sectors, and continue to pay attention to some potential stock opportunities with new product cycles.

even many a-share pharmaceutical funds are also investing heavily in hong kong stocks across borders. cathay pacific innovative medical fund, which lists yimaitong, the largest doctor community platform in hong kong stocks, as its largest holding, has invested more than 40% of its positions in the hong kong stock pharmaceutical track. qiu xiaoxu, manager of cathay pacific innovative medical fund, believes that the aging of the population and the complexity of unmet clinical needs are still the guarantee for the growth of the pharmaceutical industry. in terms of policy, the attitude of various functional departments in the industry to encourage differentiated innovation and oppose repetitive involution has been very clear. innovation is still the biggest endogenous driving force for the development of the pharmaceutical industry. therefore, the high position allocation of pharmaceutical innovation targets will be maintained. regarding specific subdivisions, we still focus on forward-looking growth as the core direction, and are optimistic about innovative drug companies that continue to achieve commercialization, medical equipment and innovative device companies that have entered the global market, and the three major specialty medical chain companies with long-term stable growth and sustained cash flow. direction. in terms of the structural balance of trend investment and reverse investment, increase the allocation proportion of the pharmaceutical boom track, focus on the three directions of medical equipment replacement and replacement, innovative drugs going overseas and differentiation, and the increase in demand for raw materials, while focusing on the second growth. a leading technology platform company with gradually clear curves.

editor: wang yunpeng

proofreading: li lingfeng