Category: Money tips Release Date: 2006-08-13
Source: Guangzhou Bandung Author: Huang Yongyao
The recent trend of the broader market so that investors in the operation more difficult, one is put in place technical indicators do not adjust the other hand, the amount can have a tendency to shrink, the blue-chip blue-chip institutions Shigekura significantly lighten up signs, but increases among the top of the mainly trash stocks, in this whole dilemma, direction unknown circumstances, an average of more than 40% worse resale values of the closed-end funds will undoubtedly become the next response to currently available can be both afraid of pursuing high quilt cover, afraid Ta Kong, making it into the can be offensive and can fall back to keep the best choice for variety, but the current closed-end funds are facing in the history of several rare opportunity will make it the biggest future market is expected to become the "gold mine."
A value has been grossly underestimated, as well as capital, profit-driven closed-end funds will eventually faced with the outbreak of the Day
According to statistics, last week's closed-end funds as a whole worse resale values continue to rise, with 54 closed-end funds as a whole worse resale values as high as 41.33%, and recent information on statistics, the U.S. 180 closed-end funds have worse resale values weighted average of 5 per share % of the highest worse resale values of the fund is only about 20%, while China has the highest up to 49%, the difference striking, showing that, with the integration with the international value of closed-end funds have been grossly underestimated the value of return generated by Quotes surge is only a matter of time, because the capital's natural attributes are profit-driven, in any serious underestimation of the value of the capital markets will eventually become an international hot money targets. A typical case last year, are being seriously undervalued commodity futures markets in the international hot money out of big cattle under attack, the same last year, is seriously underestimated the value of South Korea, India and Japan, over 40% of the stock market staggering rise in China's stock market has increased from last year, Hu Zhi The 998-point rise in the near future a new high of 1695 points, an increase of nearly 70% higher, is the best proof of the past one or two years, Jiangsu and Zhejiang private capital investment and speculative property market so that property prices have soared even more is the capital of the fame and fortune sexual expression most vividly.
2, "Feng Zhuankai" has no legal barriers, the market is expected to have become stronger
With regard to recent market closed-end fund, "Feng Zhuankai" market rumors and expectations have been growing strongly, according to media reports, Peking University, Director of Finance and Securities Research Center, "Securities Investment Fund Law," Cao Fengqi, deputy head of the working group drafting the an interview with reporters, said the fund, "Feng Zhuankai", the "all only run in accordance with legal provisions." promulgated in 2004, according to the "Securities Investment Fund Law" Article 65 provides that: "According to a contractual agreement, the Fund holders of fund shares, or resolutions of the General Assembly and the State Council securities regulatory body approved by the mode of operation can be converted to the fund. "Specifically, as long as the holders of more than 33.33% share of the fund holders to vote on the adoption and approval by the SFC, closed-end Funds can be realized the transition to the open-end funds. Visible, Feng Zhuankai no longer exists in law. But the absence of workable rules and the "pioneer." As for the past fear "Feng Zhuankai" impact on the market, with the arrival of the bull market, recently re-issued the Fund ushered in a "blowout" phenomenon; 10 billion fund re-birth, it is conceivable, if the 10 billion fund to a certain discount preferential access disk worse resale values higher closed-end fund will be a win-win situation, because it can greatly save 10 billion fund Jiancang cost and time, as the "new old" can only be carried out in a bull market, like the current resolving the closure -end funds have been marginalized and the pilot, "Feng Zhuankai" the best time.
3, buy closed-end fund discount is equal to buying blue-chip, and enjoying the "bonus"
Investment funds, information, finance and analytical skills of the advantages of the investing public has become more and more attention and recognition. In recent years, many levels of investment in the Fund's investment returns outperform the big city. They hold in many cities of Awkwardness is a great Niugu, therefore, worse resale values buying closed-end fund is the equivalent of a large discount to buy blue-chip and bought a big Niugu, while the risk of future market experienced The fund managers to undertake and closed-end funds are also expected to usher in good dividends. As China's stock market since 2001, the great bear market up to 5 years so that the net value of closed-end funds mostly in the face value below is unable to holders dividend, so that investors holding closed-end fund trading and the gradual loss of confidence and patience. With the bullish stock market this year, most funds have to profitability and return for more than face value, re-equipped with bonus conditions. According to the information briefing, in May there are already 47 times the partial introduction of dividend stock funds the amount of nearly 2.5 billion cumulative dividends. At the same time in May the fund dividend programs are also exceptionally good, the 45 Fund's average dividend ratio to 6%, the highest dividend program is as high as 20%. Therefore, if more of the closed-end fund to take years, dividends, not only can enhance the holder of confidence, but also can significantly reduce the market price, increase its holding power.
4, the fund management company license more valuable, is expected to subject the birth of mergers and acquisitions
Since last year, the SFC to tighten the approval of the Fund's right to obtain a license more difficult fund companies, coupled with the bull market to make the fund management company's assets value, so the fund management company mergers and values are rising. According to Singapore's DBS Bank announced June 1 that it will, through its wholly-owned subsidiary of DBS Asset Management holds 33% stake in Changsheng Fund for the acquisition amounted to 174.9 million yuan in cash. With the relaxation of the policy will enable the fund management company in the future are expected to more foreign M & A theme was born. The worse resale values higher closed-end funds because of their intrinsic investment value, once foreign investment phase is also expected to generate foreign capital M & A theme.
5, worse resale values high closed-end funds have become more and more attention to institutions and markets
Substantial discount of closed-end funds in the future between the two cities will be extremely rare "gold mine" of this concept has increasingly gained market recognition, QFII institutions such as large-scale holdings of closed-end fund is not news, the latest official statistics , postganglionic into closed-end funds as high as 57 million, recently there have been closed-end funds continue to surge in new account information. Because the market is difficult for the broad market direction is difficult to judge the case of closed-end funds to buy worse resale values high is the best option is undoubtedly the object, it is recommended to focus on the highest worse resale values of a few closed-end funds, including funds Yulon ( 184,692) can be used to focus on, because it last week, the fund net 1.3673 yuan, but the latest price of 0.714, worse resale values as high as 48%, the implied earnings of up to 91%, which is the best choice centerline objects, in addition, can focus on Similarly, higher worse resale values, such as funds of funds Yuyang (500,006) and the Fund Hong Yang (184,728).
