图源：东财Choice招商中证白酒指数(LOF)Source: capital state
According to the relevant data, the equity funds that individual investors bought the most in the first half of this year were the China Merchants China Securities Liquor Index (LOF), Yi Fangda Blue Chip selection and Jingshun Great Wall emerging growth. It is reported that at the end of the second quarter, the scale of funds managed by the three reached 90.275 billion yuan, 134.478 billion yuan and 116.301 billion yuan respectively, all exceeding the scale of public offering management of more than half of the fund companies in the market.
Specifically, according to Choice data, as of the end of June this year, the largest number of equity fund holders is the China Merchants Securities Liquor Index (LOF), with 9.849 million holders and 99.9 per cent held by individual investors. Ranked second and third were Yifangda Blue Chip Select and Jingshun Great Wall Xinxing growth, with 7.1325 million and 6.1013 million households respectively, with a proportion of 89.85% and 96.9% held by individual investors, respectively. According to statistics, the three funds were held by more than 22 million individual investors in the first half of the year.
Picture Source: Dongcai Choice Merchants China Liquor Index (LOF)
From the perspective of individual stocks, at the end of the second quarter, the heavy positions of the three funds are inseparable from the liquor and pharmaceutical sectors. China Merchants Zhong Zheng Liquor is a passive index fund, tracking the CSI Liquor Index; Jingshun Great Wall emerging growth stocks have a number of liquor and pharmaceutical stocks; Yi Fangda blue chip selection is also a heavy position of a number of liquor stocks. It is worth mentioning that Zhang Kun said in the latest report that the allocation of food and beverages has been reduced and the allocation of banks has been increased.
A number of industry insiders said that investors choosing funds should set a longer holding period, rather than short-term replacement of funds as the market rotates. If there is a change in the fund manager or a drift in the fund style, investors can assess whether to continue to hold according to their own risk preference.
