Category: Money tips Release Date: 2006-11-23
China Stable Growth Fund Manager: Focus on three types of the company's investment opportunities
The recent turmoil in the stock market is still ahead, steady growth is being sold in China fund manager Zhang, talking about the Fund's investments and market opportunities that China Stable Growth Fund's investment objective to achieve sustained strong asset value. Have to obtain a stable investment returns, stock selection is very important. A view of the current stock market situation, Zhang stock selection focuses on three types of companies, is investing in great companies, the selection of companies and the use of forward-looking data model filter out companies.
Zhang said the "great company" the most preferred, the most prominent feature of these listed companies are not competitors in the U.S. market, there are two representatives: one is based Coca-Cola Company, the other is the McDonald's corporation. In China, the representatives of these two types were Moutai and Suning Appliance. To Maotai, for example, it has unmatched brand value, as a luxury goods sales growth year after year, but has also taken a price increase next year's strategy. It and ordinary food is a huge inventory of different values, when some worried that when the product inventory Maotai was able to save more the more appreciation. China Fund in November 2003 to 25 yuan Jiancang, to May 2006 received more than 750% gain.
Another great investment value of the enterprise as a forward-looking company, which requires investment and research team to discover them, as something precious titanium, the old cellar, Tianwei, Hongdu so. With the old cellar, for example, after the market after a period of downturn, the old cellar of the promotion of the product re-positioning. "National Pits 1573" This has been a long history as a strong brand promotion, their superior products production also has a vast potential for growth. In the sales cycle, additional directional to the dealer to achieve a sales supply chain integration. While noting these positive factors, Zhang in mid-2005 to 2.7 yuan Jiancang, to July 2006 received 470% gain.
The third category is the use of quantitative modeling filter out companies. Large number of listed companies, annual semi-annual report, annual reports more than a million copies, the general would be difficult to sort out clues from a lot of data. Investment companies have relatively complete data model, its stock selection model to screen some of the conference was not popular, but the great investment value of the stock separated from the data ocean.
Ring in both subjects, for example, the company is China's largest and world's second largest manufacturer of NdFeB materials, its products are widely used in consumer electronics, medical devices, hybrid cars, wind turbines and other fields.
The company has a strong development team Chinese Academy of Sciences, and the proportion of the cost of investment in equipment accounted for only 10% of the international peer company operating performance for 3 consecutive years, maintaining over 40% growth rate. According to the company's critical data to judge, it may be a larger increase in the company in September 2004 at 10 yuan Jiancang, to May 2006 received more than 200% gain.
There are Yantai Wanhua, the company's gross margin of 40%, net profit margin 18%, is typically low levels of debt, strong corporate profitability, and the potential for capacity expansion in the future building energy efficiency will create a broader market space. June 2005 Jiancang price of 11 yuan, in June 2006 received 193% of the gains.
The China fund is from the annual financial statements of thousands of copies of filtering and screening results turn out good companies, and further in-depth study, to seize the investment opportunities.
Zhang said that China Stable Growth Fund will be closely focused on economic development and business growth trends, grasping the above three types of investment opportunities and further tap the potential of the company with sustainable growth and achieve the Fund's investment objectives.
