Regarded as an important indicator of the fund marketNcibingoPartial stock mixed fund index, release an important signal!

As of May 6, the mixed index of partial stocks rose 0. 5% during the year.Ncibingo.71%, the index turned red for the first time this year.

Don't underestimate this 0.71%, there are three big signals behind it!

First of all, the first red rally of the partial stock hybrid fund index this year means that the moneymaking effect of active equity funds has improved, and more and more people have finally begun to make a profit after losing money for two consecutive years.

Second, the index's decline began in 2022 and has been adjusted for more than two years. After bottoming out in the first quarter of 2024 and recording a negative line for four consecutive quarters, it turned red for the first time in the second quarter. This round of adjustment has significantly exceeded the bottoming time of several obvious adjustments in history, perhaps the real bottom of this round of adjustment has arrived, the rebound force has arrived.

Quarterly line of partial stock mixed fund index, data source: Oriental Fortune Choice

Finally, the partial stock hybrid fund index represents the overall performance of the most active equity funds, but also reflects the recovery of the domestic market, the bull market may be on the way.

Don't underestimate the stock hybrid fund index. Going back to the bull market of 2019-2020, it is really not difficult to outperform the partial fund index as long as it is radical enough. However, it is not easy to outperform stock-biased fund indices for five consecutive years from 2019 to 2023.

How hard is it? Some media have counted that the fund that outperformed the Wande partial stock hybrid fund index every year from 2019 to 2023 found that there were only 22 funds left, with a selection rate of only 0.19%.

Judging from the market structure in recent years, grasping the dumbbells of risk preference and risk aversion may help to realize the excess return of investment. At present, when the money-making effect continues to improve, the partial stock hybrid fund can also become a choice of risk preference in the fund investment barbell portfolio.

For how to choose partial stock hybrid fund, there may be two major ideas.

1. look for funds that contain a high amount of "Hong Kong".

In the domestic market, the Hong Kong stock market or a depression with high certainty. Societe Generale Securities (601377) pointed out that from the chip game analysis, the Hong Kong stock market this year is at least quarterly, or even annual, has only just begun. At present, the short selling of Hong Kong stocks is still overcrowded, and the proportion of short selling has not fallen to the level at which each rally is close to its peak.

For Hong Kong stocks, there are two types of assets that can be dug gold. One is the high dividend assets of Hong Kong stocks, especially the Hong Kong stocks of some central enterprisesNcibingoThe other category is high-quality profitable assets, such as leading companies in the areas of the Internet, biomedicine, food and beverage, property and social services, which are worthy of attention.

Some Hong Kong stock funds with the highest returns so far this year, data source: flush iFinD

2. Pay attention to the medical fund in the short term

For the short-term market, the pharmaceutical sector may become the "trend rider" in May, there are four main reasons: (1) the annual growth rate is low before and after high, and the profit in one quarter is empty. (2) at the end of the first quarter, the proportion of non-pharmaceutical funds allocated to medicine is about 7.5%, and the chip structure is conducive to the strengthening of the pharmaceutical sector. (3) the pharmaceutical sector has experienced four consecutive years of decline, and most valuations (PE-TTM) are 10-20 times, which is attractive even from a PEG point of view. (4) there are obvious signs of warming up in medical policy.Ncibingo, especially related policies such as innovative drugs and innovative traditional Chinese medicine.

Some of the medical funds with the highest returns so far this year, data source: flush iFinD

In addition, investors with high risk preference can pay more attention to the ETF related to Chinese medicine in Hong Kong stocks. This is because, at present, Hong Kong stocks have entered a "technical bull market". The adjustment of the pharmaceutical sector of Hong Kong stocks has been very clean in the past few years, and the rebound is full of momentum. At present, the possibility of the plate rising is very high.