The latest disclosure of positions by Tiansheng Value Growth Hybrid Fund has triggered huge discussions in the industry. The reason is that the position changes this time are very different from the past. The most concerning thing is not the top ten heavy holdings, but these
There have been significant changes in the fund's asset allocation.
Its stock holdings now account for only 30% of the fund's total positions, while its bond allocation accounts for an astonishing 60%, and the rest is bank deposits, that is, liquid cash.
As an active hybrid fund, unlike stock funds which can only allocate stocks, hybrid funds are more flexible and can also allocate bond varieties.
What really caught the attention of investors is that Tiansheng Value Growth Hybrid Fund not only allocated bonds for the first time, but also doubled the size of the current stock assets.
This is a big event and has triggered speculation among many people. All major Vs will comment on this matter after the market closes. Most investors who do not have the ability to analyze themselves often rely on the analysis of major Vs to judge the market.
If it were just an ordinary public fund or an ordinary fund manager's stock swap changes, it would naturally not cause such great speculation and attention, but this is the now famous "Tiansheng Enchantress" whose net worth this year
The yield has reached 31%, which is a new high after the flash crash.
The compound interest of this fund is even more terrifying. The yield curve since its establishment has exceeded 196 times. What is this concept? It is equivalent to a Christian buying this fund for 50,000 yuan in March 2015. Two years later,
Today brought him a return of 9.8 million.
There are many funds of the same type in the current market that have a rate of return that outperforms Tiansheng Value Growth Hybrid Fund, but when it comes to volume comparison, there is no comparability between a fund of several hundred million and a very large fund of hundreds of billions.
Coupled with Lu Ming's personal influence, in a sense, looking at the position changes of Tiansheng Value Growth Hybrid Fund can reflect the current views of the most profitable investors on the market outlook to a certain extent.
The latest stock holdings of Tiansheng Value Growth Hybrid Fund only account for 30% of the fund's total positions, but the overall allocation is close to full, and 60% of the positions have been switched to the bond market. This shows that Brother Yi is not optimistic about the future performance of the stock market and has turned to running.
Went to the bond market.
For many people, this change immediately makes them pessimistic about the market outlook or makes them even more pessimistic. Even a man like Brother Yi, who stole more than 170 billion U.S. dollars from the American family, has given up on Big A, so why not play with it?
hammer?
Lu Ming and Tiansheng Capital are recognized as representatives of "smart money" in the minds of small and medium-sized investors. Their bullish and bearish views on the market outlook will largely affect the bullish and bearish views of many people. Coupled with the exaggeration of some big Vs,
You must know that a big V has a lot of fans, and a relatively famous one has hundreds of thousands or even hundreds of thousands of fans.
As a result, a rapid fission can be formed, and the short position in the market can be accumulated. It only needs a fuse to be lit to cause this short position to pour out.
…
Around 16:00 in the afternoon.
Yao Yun came to Lu Ming's office to give a work report, "Chairman, the overall organizational framework of the Science and People's Livelihood Fund has been completed. The headquarters location was selected according to your request and a 50-story independent building was built in Dongcheng District, Ningzhou.
building……"
Lu Ming came to the rest area and sat down. Yao Yun, who was sitting next to him, immediately handed him a document, "This is the personnel list for the top-level framework of the Science and People's Livelihood Fund. Everything has been prepared and the foundation will be launched within this week."
It can be put into full operation.”
Lu Ming took the material she handed and opened it to read. The organizational structure of the Science and Livelihood Foundation consists of two parts: the Board of Directors and the Secretariat.
The Board of Directors assumes the decision-making function, and reviews and approves major matters such as the strategic plan, annual plan, and budget of the Science and Livelihood Foundation through regular board meetings convened and chaired by the Chairman. The Board of Directors has a project review committee and a project review committee.
The Audit Committee reports to the Board of Directors and is responsible for the approval and quality control of foundation projects.
The Secretariat serves as the executive agency of the Science and Livelihood Foundation. The person in charge is the Secretary-General, who is elected by the Board of Directors from among the members and is responsible for the daily work of the Secretariat. The Secretariat consists of project execution, administrative personnel, finance, taxation and legal departments.
.
Lu Ming also serves as the chairman of the organization, and he has a lot of titles, including this one.
The Secretary-General of the Secretariat is Lou Yiyun, who is the first person in charge of the executive level. He was transferred from within Tiansheng Capital. The Secretary-General is also a member of the Board of Directors, and there are seven members in total.
"I've worked hard for you during this time, and you still have to work hard for a while." Lu Ming put down the materials and looked at Yao Yun with satisfaction. The latter smiled and said: "It's your job, it's your responsibility."
It can be said that the Science and People's Livelihood Fund can get on the right track at this time and set sail on the strong wind.
This just happened to coincide with the beautiful country's sanctions against Zhongxing Communications, which triggered a technological war and ignited the tide of technological independence. Science and people's livelihood funds accounted for more than half of the funds in the scientific field, which was Lu Ming's biggest focus.
At present, the book cash flow of the Science and People's Livelihood Fund has reached a huge 164.5 billion, of which 52 billion is an anonymous donation from Qiao Jingping, an invisible rich man, and the rest is the funds obtained from Tiansheng Capital dividends received by Lu Ming and transferred to the institution.
among.
Yao Yun finished reporting her work progress, chatted with Lu Ming for a few words, and then left.
The Science and Livelihood Fund will be officially put into operation this week. On the first day, Lu Ming will also attend as chairman and give a public speech. Now he is also preparing for this, what should he say.
This was one of the few events that Lu Ming attended in public, and it was treated as a very important task.
…
At around 21:30 in the evening, a piece of breaking news spread across the ocean into China, causing an uproar in the technology, capital and media circles that night.
The Bureau of Industry and Security (Bureau of Industry and Security) of the Ministry of Home Affairs of the United States announced the resumption of sanctions and bans on Zhongxing Communications.
This incident spread throughout the industry overnight, and the beautiful country once again struck hard, first sanctioning Tiansheng Capital in the financial field, and now taking action against Zhongxing Communications in the technology field. It can be said that it has taken frequent actions.
Various media outlets competed to quote and report on this unexpected incident that night. Big self-media Vs also forwarded the news that night, and major market software also pushed relevant news.
If the announcement of Tiansheng Value Growth Hybrid Fund’s latest position information after the stock swap has caused the market to accumulate strong short positions, then the sudden news that Zhongxing Communications was sanctioned is the trigger.
…
The next day, on the morning of March 17, Zhongxing Communications issued a temporary announcement: Due to the activation of the denial order by the Bureau of Industry and Safety of the Ministry of Public Security, the company applied to the trading room, and the company’s A-share shares will be effective from April 17, 2018.
Trading is suspended and will remain suspended.
At 9:25, the Shanghai Stock Index call auction opened lower by -0.81%, directly breaking through the 3200-point integer. The platform shock box that had been maintained for a month finally broke out today, and it gapped downward.
The position is broken, which shows that the bullish power of the market lies down directly on the spot, without even making any fake moves to lure the bulls.
The power of the shorts completely overwhelmed the longs. Five minutes later, the market opened with continuous bidding, and the market plummeted. In just half an hour in early trading, the market plummeted by more than -2%, and there was no sign of stabilization.
The communications equipment sector crashed directly. Nuclear buttons were everywhere in the sector. Eight stocks including Dongfang Communications, Kostar, Huiyuan Communications, etc., dropped to their limit with heavy volume. Other stocks in the sector also fell sharply, and the funds inside were withdrawn from this sector on a large scale.
Sectors fled in panic.
At the close of the day, the communications equipment sector as a whole plummeted -5.79%, and this was despite the suspension of trading by leading company Zhongxing Communications.
The whole market was wailing. Tiansheng Holdings, which received a false positive line yesterday and actually fell -0.5%, directly responded with a big negative line today. As the listed company with the highest market value in Big A, it was promoted from the top brother in the securities sector to a big one.
Brother A's Tiansheng Holdings not only failed to protect the market today, but also plummeted, which is nothing short of adding insult to injury to the entire market.
This is also a coincidence. If Tiansheng Holdings was currently in the stage of continuous positive and rising waves, the index would not collapse like this. But now Tiansheng Holdings is also facing adjustments after its main rise.
Is there still a big A today? It’s definitely gone!
Tiansheng Holdings recorded the largest intraday drop of -4.35% during the session. The stock price almost failed to hold the integer mark of 30,000 yuan. Fortunately, there were funds to take over and rebounded slightly by more than a point in the afternoon. After the market closed, the stock price closed down -3.01%.
It closed at 30,632.34 yuan, with a total market value of 2.45 trillion yuan.
Today's market is a big negative line that broke through the entire box shock range. It closed down -3.04% after the market closed. The index closed at 3110.65 points, which directly broke the position and closed with a bald negative line. This shows that it has not fallen completely, and it will still fall tomorrow.
The possibility of continued decline is extremely high.
The money-losing effect in today's market can be described as an explosion. All major sectors are the corpses of bulls. It reminds everyone once again of the fear of being dominated by Big A during the flash crash at the beginning of the year, and the market sentiment is boiling with panic.
