Last year, the funds are heavy on the end of the four seasons path: preferences of new shares jiacang financial

"investors" researcher Liu Zongyuan

as institutional investors, fund companies has always been a weathervane of investment, the end of 2011 third quarter and the end of the fourth quarter held by the Fund holding, found that changes in the Funds investment direction more clearly.

flow proportion of shares of view, the fourth quarter of last year, funds the largest increase in newly issued shares from fund investments accounted for, and concentrated in the financial and media segment. Statistical fund "investors" Four Seasons reportedly found new accounts for the proportion of outstanding shares of the top three stocks are: the Phoenix media, Xinhua Insurance, Soochow Securities.

by the media sector last year, compared with defensive and the government will first characterized as a pillar industry in national economy, the funds from the third quarter of last year to start jiacang culture media industry stocks. In the fourth quarter to play the new, the Phoenix media has also become a stock fund managers to focus on, as at the end of the fourth quarter of 2011, a total of 29 funds Awkwardness hold the stock, accounting for 29.62% of the outstanding shares of stock. Phoenix Media,

yes, the financial industry, the new shares have also been touted, such as Xinhua Insurance and Soochow Securities is a typical example.

December 15 last year and 16 days, Xinhua Insurance in Hong Kong Stock Exchange and Shanghai Stock Exchange listed insurance company become the first domestic listed on the A + H-way synchronization, and landing the domestic capital market Insurance stocks. "

this new listing of insurance companies, fund managers rush, a total of 53 funds involved in the IPO. At the end of the fourth quarter, the funds holdings Zhangaigongsi the outstanding shares of 20.54%; the most enthusiastic fund company holding the stock of the China Fund (Confucius News), China Merchants Fund and CCB Principal Asset Management (Confucius News), these companies are large holders of Xinhua Insurance. The large main reason for buying the stock of

fund managers, Xinhua Insurance shopping malls in recent years share continues to rise; according to data released by the China Insurance Regulatory Commission, the original insurance premium income, the market share of Xinhua Insurance increased by 7.6% in 2008 and 8.2 percent in 2009 to 8.9 percent in 2010, rising from fifth place in 2008 in the Chinese life insurance companies rankings to third place in 2010.

these companies are in the fourth quarter last year, the fund managers to play the new stock, in addition to the 27 stocks is to fight the new stock. However, the "investors" that the same dozen new fund managers to play the new purpose is different, some playing just to earn the premium of the new shares issued, and some to play new, but is optimistic about business growth, the former lock period, most of the fund managers will sell, while the latter will mostly continue to hold.

Therefore, in view of new fund managers to play the new stocks, held by those funds accounted for the outstanding shares higher proportion of companies tend to be long term bullish on stocks of fund managers and a small number of fund managers to hold and hold share in circulation small proportion of shares of stocks, often the stock of short-term investments of the fund managers.

In addition to the fund managers to play emerging a lot of the fourth quarter of new stock, there are many new non-IPO stocks, these stocks in a way more worthy of attention from investors because it represents the fund managers optimistic about this part of the stock to re-enter the top ten Awkwardness.

"investors" Data Research Department statistics show that a total of 145 such new stocks, accounting for 80% of the fourth quarter of new stocks.

holdings of the largest stock cis-network technology, the end of the third quarter the Fund will be included in the Awkwardness, but at the end of the fourth quarter, the four funds to be included in the top ten Awkwardness, the four funds holds accounts for 16% of the total outstanding shares, and China and Yinhuas held by the Fund. For such a small company, the fund company is an important reason to change the attitude of holdings in the fourth quarter of the shares of Tencent. According to the companys announcement in November last year, Tencent invested 130 million yuan through the way of large transactions, 4% of the shareholders Zhangaigongsi become the fourth largest shareholder.

the two companies can better complement each other Tencent large-scale users, and establish a leading edge in the field of IM, community, games, etc., with the advantage of both end users and products and services; along network technology in the channels of Internet entertainment cafes occupy the absolute leading edge, and will form a win-win situation. fund managers is because

see this point, in Tencent enter, significantly increased the holdings of the proportion of the end of the fourth quarter, the revival of China, Yinhua domestic demand selection and a long letter and increased profits by dynamic policy holders of the accounts for the outstanding shares 6.05%, 5.10% and 4.95%.

the end of the fourth quarter of 2011, fund managers still increase held by GEM in the proportion of total outstanding shares of the rankings, many of the GEM stocks, such as the Chinese test detection HKUST smart yuan force shares and digital video.

In addition to these two dimensions observations of fund managers investing in wind outward from the fund holds a stock proportion of total outstanding shares of the absolute amount of observation, because of the outstanding shares are held by the high proportion of the fund managers tend to show that there are more professionals recognition in the secondary market operations will be more stable, not easy ups and downs.

circulation highest proportion of consumer stocks, which accounted in circulation for more than 30% of total 8, they followed the Erie shares, Luzhou, waterworks, Carolina textile, Weifu High-Tech, Seven Star Electronics Kymmene and Yongqing environmental protection.

Erie shares at the end of the third quarter of 90 held by the Fund, in the fourth quarter, the number of funds held in the growing $ 119 Fund, as of the end of the quarter, the proportion of total outstanding shares from the previous quarter 33% rising to 40 percent, becoming the largest stocks of the end of the fourth quarter accounted for the proportion of outstanding shares. ■