Value Investment Philosophy And Case Study Of D Fund

With the steady development of securities investment market in China's stock market,we are in an era of opportunity.The resilience of China's economic growth and the tendency of China's excellent enterprises to become global industry leaders have laid the foundation for our value investment.Adhere to the correct concept of value investment,accompany outstanding business growth.In recent years,the capital market has been in a new environment.Overseas funds have entered the A-share market through Shanghai-Hongkong and Shenzhen-Hongkong Communications,gradually changing the valuation logic of A-shares;domestic supply-side reform has promoted the market share and profitability of leading companies;financial supervision has become more stringent and the issuance of new shares has accelerated,and the scarcity of small and medium-sized market capitalization stocks has disappeared.The purchase pattern is affected.Institutional investors' right to speak has been enhanced,value investment has been valued,investors have been looking for certainty of performance growth,concern about the core competitiveness of listed companies and endogenous growth capacity.According to statistics,in 2017,the market index differentiation,value-based blue chips performance eye-catching,theme stocks dropped sharply.The Shanghai Composite Index rose 6.56%,the Shanghai-Shenzhen 300 Index rose 21.78%,the Shanghai 50 Index rose 25.08%,and the GEM index fell 10.67%.The Hang Seng Index surged 35.99% in 2017 as the Hong Kong stock market,previously a low-value area,attracted a lot of southward and overseas funds.Eighty-eight stocks in the Shanghai-Shenzhen 300 index,regarded as the representative of blue chips,rose more than 30%,including 20 stocks in Haikangweishi,Guizhou Maotai,Mei Group and Ping An,China,which rose more than 100%.More than half of the GEM stocks fell by more than 20% throughout the year.Value investment has become a hot word in the capital market in 2017,which leads to the change of investment style and logic.Investors pay more attention to the core competitiveness of listed companies.In this environment,DFH asset management,which has been steadfast in value practice,stands out.According to statistics,in 2017,the average growth rate of the 13 series of equity funds of the D series increased by 51.36%.Rank the top of the market.Practice has proved that the new practice of value investment in China's stock market has achieved certain results.Value investment has a better survival in the Chinese market,and it can get a long-term return.Adhere to long-term value investment and share the long-term benefits brought by the growth of listed companies.