Niuxiong how to fund all-around finisher?

October is about to end, quarter 4 through 1 / 3 of the course for this year's investment fund, has entered the closing stages. The deep decline in the market this year, or fast-speed, beyond people's imagination. We are pleased to know the market so there is a class of the fund: its up similar funds in more than up, or at the time or less than that of similar funds. In 2007 and 2008 two distinct market for these funds to provide a stage for two years in the same rank are located in the top 20 funds, although this year also dropped, but a two-year term investment performance , Has won the investors of these funds is still a huge return for a well-deserved all-Niuxiong funds. In that case, these funds will be how to fight the 2008 season-ending battle? We may as well work published in the Quarterly Bulletin to find some clues. In the first three quarters of urban workers Kong unit in the average wage increase of 18.3 percent year-on-year ... First, the Chinese fund market - Layout focus next year, concerned about the growth stock category Three of the Quarterly Bulletin show that China's stock market position is 57.32 percent more than in the Second Quarterly Bulletin, an increase of 7 percentage points, which is the Chinese market since the end of 2007 the actual operating Jiancang, the Quarterly Bulletin Opening show for the first time. Configuration in the industry on the Chinese market at the end of the quarter, compared with an increase of the proportion of the mining industry, mining industry, the stock market than the market value of equity investments accounted for 11.92 percent, up 10 percent sequentially. At the same time, a substantial reduction in the bio-medical products industry, the real estate industry in the proportion of stocks in the portfolio. In the Quarterly Bulletin, that the Chinese market, the full circulation of globalization and the rise to China's stock market valuation adjustment of the full system, the old system was broken and the new balance system has not yet been established before the stock market risk system is difficult to grasp, to adjust the overall pattern will be difficult Change. In terms of investment strategy, the fund will be controlled on the basis of risk-oriented investment for next year's layout, choose the future growth is expected to exceed the expectations and a reasonable valuation of long-term varieties. Second, the Huaxia Fund dividend - cautious, favored by finance and insurance industry Three of the Quarterly Bulletin show that the Chinese still insist on dividend cautious low operating positions, the latest stock positions 56.21 percent, quarter on quarter at the end of a slight decrease from the 2007 third start of the Quarterly Bulletin, dividend Quarterly Bulletin of the Chinese position has been disclosed in a row dropped 5 times. Configuration in the industry, the dividend has declined by a Chinese non-metallic metals industry share of stock configuration, three of the Quarterly Bulletin shows that the industry share of the stock market accounted for only 3.29 percent, at the end of the previous quarter by 5 percentage points; substantial holdings of the fund finance and insurance Industry stocks, which account for the fund industry portfolio reached 19.64 percent share, at the end of the previous quarter increased 2.89 percentage points. In three of the Quarterly Bulletin, the dividend that the Chinese market with the Central Huijin rate confirmed the holdings at the end of the policy, but the A shares market is still at the bottom of the need to recognize, the world's "de-leverage" the second phase of the long adjustment may be the world's rights and interests Faced with the common market environment. Third, the Franklin fund market flexibility Sea States - active defense, manufacturing holdings Franklin Sea States and the former two flexible market value, fell in a relatively weak position in the market, funds from the contract, the Chinese stock market investment scope is 40% -95% of the voting investment Huaxia scope of the dividend is 20% -95 %, And the only fund investing in stocks is a range of 60% -95%. We have seen, the former two funds in this year's decline in the market in the past two quarters of the positions are maintained at 60% below the market down to avoid some of the systemic risks. Three from the Quarterly Bulletin, Franklin Sea States have flexibility to reduce the market value of the stock positions, the latest stock positions to maintain the bottom line in the vicinity of 60%. The latest Quarterly Bulletin, Franklin Sea States increased flexibility in the market value of the machinery and equipment industry in the instrument in the proportion of the equity portfolio, the market value of the industry accounted for stock market investment accounting for 8.11 percent, the previous quarter by nearly 6.17 percentage points; fund to reduce the financial and insurance Equity portfolio in the industry in proportion to its share of 8.22 percent, at the end of the previous quarter to reduce the 4.78 percentage point. Quarterly Bulletin of the three, the last of the fund in the first quarter of the shares of the liquidity position had strict requirements, and sold a considerable part of the poor stock liquidity. In the next quarter, the Fund will adhere to the strategy of active defense, may be selectively buying stocks or some of the holdings.