SDIC UBS Hong Kong Stock Connect Value Discovery Mixed Issuance: Tang Haibo, Liu Yang Management

SDIC UBS Hong Kong Stock Connect Value Discovery Mixed Issuance: Tang Haibo, Liu Yang Management

Sina Finance News On February 25, SDIC UBS Hong Kong Stock Connect Value Discovery Hybrid (007110) was officially issued with a fundraising period of 2020-02-25 to 2020-03-09.

The benchmark for performance comparison is: Hang Seng Index Yield (converted using the assessed exchange rate) × 80% + ChinaBond Composite Index Yield × 20%.

The product investment strategy mainly includes category asset allocation strategy, stock investment management strategy, warrant investment management and bond investment management strategy.

Stock investment management includes value investment strategies, industry allocation strategies, and individual stock strategies.

The bottom-up approach is used, and a combination of qualitative and quantitative analysis is used to select the stocks that are attractive to the Hong Kong Stock Exchange.

  Dual fund manager system: Tang Haibo and Liu Yang, belonging to the “old belt new”, Tang Haibo, investment manager age 7.

In 1997, there were 6 management funds, 4 management funds in service, and the total size of funds under management was 7.

26 billion.

He is a partial stock fund manager and has an annualized return of 9.

07%; its value discovery from SDIC UBS China, which it managed in December 2015, has an annualized return of 14.

99%, ranking 14/62.

At present, all products in service are positive earnings.

The past 2 product term returns were negative.

1-year risk analysis, SDIC UBS Ronghua bonds, SDIC UBS Innovative Medical’s downside risk is high; SDIC UBS China’s value discovery downside risk.

33%, SDIC UBS information consumption downside risk 9%, medium risk.

  Liu Yang, Master of Finance, Macquarie University, Victoria, 6 years of securities industry experience.

From 2020-01-22, the management of SDIC and UBS-Hong Kong Stock Connect will be mixed.

  Strategy: Four types of strategies, such as asset allocation and warrant investment, are selected from the bottom up. The value of SDIC UBS and Hong Kong Stock Connect is selected based on the value of the Hong Kong Stock Connect Standard. The mixed investment target is found. Under the strict control of risk reduction, the value investment thinking is fully utilized.The selected stocks of the attractive Hong Kong Stock Connect Standards are selected to strive for sustained and steady appreciation of the fund’s assets.

Investment portfolio restrictions: the proportion of stock assets to fund assets ranges from 50% to 95%, and the proportion of stocks invested in the Hong Kong Stock Exchange Standards to non-cash fund assets is not less than 80%; cash or government bonds with maturity within one yearNot less than 5% of the fund’s NAV.

  The product investment strategy mainly includes category asset allocation strategy, stock investment management strategy, warrant investment management and bond investment management strategy.

  Class asset allocation: Based on the comparison of market trends and expected return risks of class assets, the allocation ratio of each asset class, such as stocks (mainly stocks listed on the Hong Kong Stock Exchange), bonds and money market instruments, is dynamically adjusted in order to achieveOptimal balance of risk and return.

This product adopts a multi-factor analysis framework. From the macroeconomic environment, policy factors, market interest rate levels, market investment value, capital supply and demand factors, and internal momentum of the securities market operation, it uses a quantitative and qualitative analysis method to invest in the securities market.Comprehensive research on opportunities and risks.

  Stock investment management includes value investment strategies, industry allocation strategies, and individual stock strategies.

The value investment strategy mainly uses the bottom-up method to select attractive stocks from the stocks of the Hong Kong Stock Exchange, and specifically, finds attractive stocks through a combination of qualitative and quantitative analysis.

Qualitative analysis includes analysis of the company’s industry competition pattern, market segmentation, business model, brand appeal, corporate governance structure of competitive advantages, etc .; quantitative analysis includes return on equity (ROE), gross profit margin, net profit margin, profit margin, etc.Factors that determine the value of a company, as well as price-earnings ratio (P / E), price-to-book ratio (P / B), price-earnings growth rate (PEG) and other indicators that reflect the price level, and dynamically compare the value and price of the company, combining the industryThe development prospects, the capital of the Hong Kong market and investor behavior, etc., select the stocks which are estimated to be attractive among the Hong Kong Stock Exchange-listed stocks that meet the Fund’s investment objectives.

  Industry configuration strategy. In the industry configuration, the combination of top-down and bottom-up will be used to determine the industry weight.

In the process of portfolio management, fund managers will also continuously and dynamically adjust the industry configuration based on macroeconomic indicators and the fundamental characteristics of various industries.

The specific analysis of the industry mainly includes the following aspects: prosperity analysis, financial analysis, estimation analysis.

Quantitative methods are used to assist the above-mentioned industry configuration strategies, and tactical adjustments are made to the industry configuration 苏州桑拿网 where appropriate. The methods used include industry momentum and reversal strategies, and industry-level correlation tracking and analysis.

  Optimizing individual stock strategies: 1) The combination of quantitative and qualitative analysis will be used to determine the stock selection library.

2) The fund strictly adheres to the “price / intrinsic value” investment philosophy.

The main content of individual stock fundamentals analysis includes value assessment, growth assessment, cash flow forecast and industry environment assessment.

3) Evaluate the added value of the stock price and internal value changes in value, buy stocks with estimated variable attractiveness, sell stocks with reduced estimated attractiveness, convert them into stock portfolios, and make adjustments.

  Dual fund manager system: Tang Haibo, Liu Yang, “Old and New”, Tang Haibo’s annualized 西安耍耍网 return9.

07% risk medium fund manager Tang Haibo, Fudan University, Master of Economics.

Analyst of Shanghai Zhonglu Investment Management Co., Ltd. from July 1999 to July 2000; Analyst of Shanghai Zendai Investment Management Co., Ltd. from August 2000 to September 2004; US Chartered Financial Analyst (CFA) in 2005qualifications.

Analyst of CITIC Capital Investment Research Co., Ltd. from January 2005 to February 2006; Analyst of JP Morgan Securities (Asia-Pacific) Co., Ltd. from June 2006 to June 2007; Merrill Lynch from July 2007 to July 2009Analyst of Securities (Asia-Pacific) Co., Ltd .; Senior Analyst of Huaan Fund Management Co., Ltd. from July 2009 to June 2010; Joined SDIC UBS Fund Management Co., Ltd. in July 2010 as a senior official.

From March 2012 to October 2018, he served as the fund manager of the selected emerging stock market fund of SDIC UBS.Since December 2015, he has been the fund manager of SDIC UBS China Value Discovery Equity Securities Investment Fund (LOF).
From January 2018 to April 2019, he served as the fund manager of SDIC UBS Ruixing Flexible Allocation Hybrid Securities Investment Fund.
Since March 2018, he has served as the fund manager of SDIC UBS Innovative Medical Flexible Allocation Hybrid Securities Investment Fund.

Since September 2018, he has served as the fund manager of SDIC UBS Information Consumption Flexible Allocation Securities Fund.

Since June 2019, he has served as the fund manager of SDIC UBS Ronghua Bond Securities Investment Fund.

  Tang Haibo, investment manager age 7.

In 1997, there were 6 management funds, 4 management funds in service, and the total size of funds under management was 7.

26 billion.

He is a partial stock fund manager and has an annualized return of 9.

07%; its value discovery from SDIC UBS China, which it managed in December 2015, has an annualized return of 14.

99%, ranking 14/62.

At present, all products in service are positive earnings.
The past 2 product term returns were negative.
1-year risk analysis, SDIC UBS Ronghua bonds, SDIC UBS Innovative Medical’s downside risk is high; SDIC UBS China’s value discovery downside risk.

33%, SDIC UBS information consumption downside risk 9%, medium risk.

Data source: Wind deadline is February 24, 2020 Data source: wind deadline is February 24, 2020 Data source: wind deadline is February 24, 2020 Liu Yang, Chinese, Macquarie University, AustraliaMaster of Finance, 6 years of securities industry experience.
Joined the trading department of SDIC UBS Fund Management Co., Ltd. in October 2013, transferred to the international business department as an investment manager in March 2015, transferred to the research department as a senior official in December 2017, and served on SDIC on December 25, 2017.Assistant Fund Manager of UBS China Value Discovery Equity Securities Investment Fund.

It was transferred to the International Business Department in September 2019, and was registered as the proposed fund manager of SDIC UBS-Hong Kong Stock Connect Value Discovery Hybrid Securities Investment Fund on October 8, 2019.