Changes in institutional research style, small and medium market capitalization increases in popularity

Original title: Changes in institutional research style, small and medium market capitalization increases in popularity

After the Spring Festival break,Public offerbackgroundWait for the agency to re-occupyResearchAccording to February data, under the violent turbulence of Baotuan shares, several institutions have recently resorted toMarket valuethe companyFrom mining.

From the perspective of the research industry,fund companyThe top five industries with the highest number of surveys are medical and biological, electronics, mechanical equipment, building materials andcomputerAmong them, medical biology once againBecome a backgroundThe most researched areas of the company In terms of individual values, the top five respondents in February were the pharmaceutical and biological industries.Amic, Light manufacturing industryZhou dasheng, The national defense industryAerospace development, Machinery and equipment industryJerry sharesAnd the electronics industryTranssion Holdings。

UeshininvestmentInstitute researcher Lu Yiqiao said that the research direction of fund companies represents to some extentRaised fundsThe design trend of the next stage of the industry. From the survey results, it is reflected that after the collapse of the institutional group shares, the investment direction of the industry may be clearly differentiated in the future Some public funds choose firm adjustmentsPosition, Moving to pro-cyclical industries such as electronics, mechanical and chemical equipment, or small and medium market value targets with relatively high cost performance; another part of the public offering funds are in liquor, medicine and the military.White horseAfter the above adjustments, there is an intention to regroup.

From an institutional design perspective, some of the 20-50 billion high-quality midsize companiesValuesThe pricing ratio has improved and institutions will gradually tilt to some low-valuation industry leaders and high-quality mid-cap stocks that have been ignored in the previous period.China Post FundbackgroundmanagerGuo Xiaowen recently pointed out that the main targets in various industries are still the main selection targets.marketIn the process of continuous differentiation and interpretation, there are also many excellent quality market value targets, medium and small, which will be in the next 3-5 years.profitIt is expected to continue growing rapidly and the valuation to be significantly lower than the industry average, objectives that will also be included in the research and follow-up approach.

However, on the gridFinancial managementThe research institute also recalled that due to someLeading ActionsPerformanceThe logic of growth certainty still exists, and the main battlefield going forward is likely to remain the industry leader. The likelihood that the group market will completely disintegrate is unlikely, but the high valuation itself means that it is no longer cheap, requiring the growth rate of individual stock earnings to be able to maintain a high rate of return. growth. If you can’t hold it, you have to drop to digest the valuation to match.

(Source: Daily economic information)

(Editor in charge: DF524)