The market has recovered at the end of the year, which makes public funds full of expectations for the recovery of issuance early next year. Many fund companies have begun to prepare for a "good start" in advance. Many fund companies told reporters that they are actively preparing high-quality resources to determine the main products for early next year. Most of them are optimistic about equity products. Although it is impossible to compare with the issuance volume of the most popular years in previous years, based on the positive market There are more and more signals. If there is a "good start" at the beginning of the year and track stocks rebound, then the fundraising situation will be greatly improved.

140 new funds were launched in November

Public offering has made a good start in advance

2022 is coming to an end, and this year’s public offering is sprinting towards the final battle of the year. , many have begun to prepare in advance for a "good start" in the New Year.

Wind statistics show that as of November 25, 115 new funds have been launched since November alone, and another 25 funds will be launched in the last three trading days of November. In terms of type, among the 140 new funds, the majority are bond funds, reaching 66, and there are 44 equity funds. In December, there were nearly 30 funds announced for issuance, involving Harvest, Invesco Great Wall, Penghua, Huabao, Boshi, Xingquan, Cathay Pacific, Huaxia, Wells Fargo, Everwin, CEIBS and many other medium and large fund companies.

Industrial Fund said that next year the company will continue to adhere to the principle of both offense and defense, and formulate the company's product layout plan based on policy guidance, market demand, resource endowment and strategic positioning. In terms of "good start" products, it plans to issue a stock-bond hybrid product from the perspective of major asset allocation early next year. First, in view of the substantial fluctuations and adjustments that have occurred in the stock and bond markets this year, and after the "stabilizing growth" policies have been introduced to stabilize market expectations in the fourth quarter, A-share structural opportunities and the value of bond asset allocation will appear next year; second, in the domestic economy Against the background of structural transformation and upgrading, residents' asset allocation is characterized by diversification and decentralization. The allocation direction covers mixed products of stocks, bonds and convertible bonds, which can meet the diverse allocation needs of investors to a large extent.

Cathay Fund said that taking into account investors’ needs for multi-asset allocation and the cost-effectiveness of the current stock and bond market, the company has deployed a series of fund products. In terms of fixed income, it is judged that the current bond market correction is relatively large and negative emotions have been fully released. Taking into account investor experience, it is appropriate to deploy related products. Fund managers with strong drawdown control capabilities and rich experience in large fund management will be selected to deploy stable income categories. (short- and medium-term bonds, steady income enhancement, etc.) products, striving to bring investors a better holding experience in the future. In terms of equity, the current A-share market has a high cost performance, and it is planned to deploy a series of index products with reasonable valuations and serving the national strategy and the real economy, such as the previously approved Cathay Securities Green Power ETF and Cathay CSI 1000 Enhanced Strategy ETFs, etc. There are also related arrangements for active rights and interests.

At the same time, we are actively working on investment companionship and continuous marketing. Recently, the market's major weighted indexes have entered the hitting zone, suppressing factors at home and abroad have gradually changed, and the opportunities in the A-share market outweigh the risks. Continuous market interpretation and holding based on market conditions may, on the one hand, improve investors' sense of investment gain in the long run, and on the other hand, attract long-term funds to enter the capital market.

Depont Fund stated that looking forward to next year, the impact of related negative factors such as the global liquidity crunch and the impact of the epidemic will gradually weaken. Against this background, next year's "good start" mainly includes the following considerations: First of all , to actively deploy equity funds in response to the recovering market conditions. The new fund has natural advantages in building positions, and its low-level layout will help improve investors' base holding experience. On this basis, priority will be given to track-type funds and quantitative index growth products. Secondly, further enrich the company’s fixed income product line to meet the needs of different investors. Finally, in conjunction with the current increase in the needs of citizens for elderly care, we will actively prepare FOF products, especially FOF for elderly care.

Yongying Fund stated that there have been positive changes in multiple factors at home and abroad recently, and the valuation of A-shares is at a low level, and the recovery trend of the stock market is becoming increasingly clear; the bond market has recently experienced shocks, and it is also expected to usher in a super market. The best time after adjustment. During the current market style switching period, the company has launched "fixed income +" products that combine stocks and bonds and have both offense and defense, such as the Yongying Hejia One-year Holding Period Fund, to better meet the needs of investors seeking stability and progress in the current market. need.

Donghai Fund said that with the recent introduction of relevant policies, the market’s pessimistic expectations for the economy are gradually being restored. It is expected that relevant policies to support the economy will be further introduced at the economic work conference at the end of the year, and market risk appetite will further increase. The company It will focus on the directions of scientific and technological self-reliance, safe development, and high-end manufacturing specified in the 20th National Congress report.

An industry insider in Shanghai said that although it is impossible for equity products to compare with the issuance volume of the most popular years in previous years, based on the increasing number of positive market signals, if there is a "good start" at the beginning of the year, If track stocks rebound, the fundraising situation will be greatly improved.

The reporter noticed that from the equity funds issued in November, most of them were track-type products, such as Huaan Carbon Neutral Theme A, Baoying Semiconductor Industry A, and GF New Energy Select A , Harvest Clean Energy A, Yongying Pharmaceutical Innovation Smart Choice A, etc.

Depont Fund stated that from an investment perspective, it is optimistic about the long-term investment opportunities in popular tracks; from a sales perspective, individual investors through traditional banks, brokerage channels or e-commerce channels can more directly benefit from the competition. Knowing the product investment direction from the name of the Tao-type product makes it easier for investors to seize investment opportunities in the industries or themes they are concerned about from many products.

Donghai Fund stated that after the transformation of old and new driving forces in the past few years, the industries that support China's economy have undergone some changes, and the proportion of new infrastructure, new energy, high-end manufacturing and other industries is further increasing. In the medium and long term, traditional industries will maintain a relatively stable growth rate. According to the direction of the 20th National Congress report and combined with industry trends, the market will focus more on the growth track style.

The market has entered the market recovery stage

Now may be a good time to make arrangements

At present, the "stock-bond seesaw" effect has reappeared, and many fund companies have expressed their view that , the bottoming of the A-share market may have been completed, and the market has entered the market recovery stage. Now is a good time to deploy new funds.

Cathay Fund stated that the major weighted indexes have recently entered the hitting zone, and suppressive factors at home and abroad are gradually changing, so we can pay attention to market allocation opportunities. In the fourth quarter, in terms of high cost performance of stocks and bonds, the opportunities in the A-share market outweighed the risks. Looking back at the decline in the third quarter, the market was extremely risk averse under the pressure of real estate pressure, the impact of the epidemic, overseas interest rate hikes, international relations and other factors. Since mid-October, the margins of extremely pessimistic expectations at home and abroad have improved, but they are still in the game stage. Beginning in November, the improvement in pessimistic expectations was substantially confirmed. Based on comprehensive market performance, the current market layout funds have high cost performance. But at the same time, we should also note that the transformation of long-term risk suppression factors will not happen overnight. The stabilization and restoration of economic and profit fundamentals is a gradual process. The global inventory cycle is still in the process of destocking, and there is still a high risk of epidemics in winter and spring. It is recommended to avoid directions that are highly correlated with the global macro cycle, and focus on the early stage, which is most suppressed by domestic and overseas risk factors, is sensitive to interest rates, and is short- and medium-term. Assets that are certain in terms of prosperity.

Debon Fund said that since November, the A-share market has picked up, while the bond market has continued to adjust, the attractiveness of equity funds has increased, and warmth has appeared on the issuance side. For fund managers, they can seize the opportunity to deploy equity products with more outstanding cost performance. On the other hand, the large fluctuations in the bond market have stabilized, and now is a better time to build positions. At this time, they should seize the opportunity to deploy fixed-income products. May catch up with the subsequent rebound.

Donghai Fund stated that the “stock and bond seesaw” has triggered significant fluctuations in some fund products. In the short term, the negative impact of public health events on the economy continues, and the market faces “strong policies” The combination of "expectations and weak market reality" is highly volatile. Investors should select funds based on their own risk preferences and the positioning of related products.

A "fixed income +" fund manager in Shanghai said that the current market is around 3,000 points. After previous adjustments, the valuation of the major indexes has been at a low level. The risk premium of Wind's full A is 3.17%, which is at a low level. In the past five years, it has reached the 82.55% percentile, and the investment performance-to-price ratio is very outstanding. With the addition of multiple stimulus policies such as reserve requirement ratio cuts, it is expected to usher in a recovery in the future. In terms of the bond market, funds remain loose. After sentiment further subsides, the bond market may have better investment value.