The third quarterly report of the first batch of funds (FOF) was released yesterday, and the products of high-performing fund managers were favored. From the performance point of view, the performance of the technology sector in the third quarter contributed excess income to many FOF products, and some FOF products achieved thickening performance through Science and Technology Innovation Board's new fund. Many fund managers say they are optimistic about the investment opportunities of science and technology funds and growth funds.

Prefer high-performance funds

Data show that in the first batch of FOF to disclose quarterly results, there are many well-known funds favored by a number of external FOF products.

For example, the funds managed by Zhou Weiwen and Zhou Yingbo are held by a number of external FOF. Zhou Weiwen manages a total of 6 FOF holdings, of which 2 FOF holdings are increased; Zhou Yingbo manages time Pioneer and Minrui New normal, a total of 6 FOF holdings are held, of which 4 FOF holdings are increased and 1 FOF is reduced. Fuguo Tianhui, easy Fangda small and medium-sized, Jingshun Great Wall core advantages and other market hot funds are also held by a number of external FOF.

From the FOF position point of view, there are also some well-known fund managers' products have been reduced.

Many special funds are also welcomed by FOF fund managers. For example, a number of FOF funds hold "niche" stock long-short products such as Haifu Alpha and Warburg quantitative hedging, which can use stock index futures to hedge systemic risk; there are many FOF equipped with all kinds of QDII products and commodity funds.

For traded open index funds (ETF), FOF is equipped with wide-base index products such as Huatai Berry Shanghai and Shenzhen 300ETF, Huaxia SSE 50ETF, as well as some popular industries ETF, such as bank ETF, military ETF, securities ETF and so on.

Make a new and thickening income

Many FOF fund managers said that optimistic about the trend of science and technology funds, growth funds, Science and Technology Innovation Board playing new also thickened FOF income.

Cai Jianlin, manager of Huitianfu FOF fund, said that at the end of the quarter, emphasis was placed on the allocation of cheap banks and Hong Kong equity funds, and Science and Technology Innovation Board played a new institutional dividend, while non-equity assets were allocated with new funds with good investment performance.

Zheng Zheng, manager of Huaxia Fund FOF, said in the quarterly report that before and after the launch of Science and Technology Innovation Board, the portfolio increased the allocation of growth products and tried to participate in Science and Technology Innovation Board's right institutional dividend. In terms of bond allocation, overseas QDII products and some domestic short-term products are appropriately allocated to adapt to fluctuations.

Haifu Tong Juyou Select actively participated in the equity market in the third quarter and obtained better excess returns from the performance of the growth style. Fund managers believe that in the fourth quarter, the profit growth of listed companies is more worthy of attention, and the growth stocks represented by science and technology need to be confirmed after a large increase. In the fourth quarter, while waiting for the confirmation of the bottom of earnings, the undervalued sector and the future earnings deterministic growth sector will still be the key direction of capital allocation, and will adjust the portfolio to find funds with strong investment ability in undervalued sectors and growth sectors to focus on allocation.

Zheng Ke, manager of Castrol Fund FOF, said that during the reporting period, the selection of core assets and long-term strategic assets were appropriately overmatched, and the tactical switching of the style center of the portfolio was carried out in a timely manner, and the excess returns of the technology sector were fully obtained through the selection of excellent fund managers.

Looking forward to the fourth quarter, Jianxin Fukuze Yutai mixed FOF fund manager believes that in the fund selection level, patiently holding industry index funds or style index funds with era dividends and outstanding profitability is an important source of dividends to share in China's economy.