China continued signs of a slight reduction when Bo was Masukura

 Desheng Ji Jin Research Center

1   13   position measurement data, various types of stock investments as the main direction of change in the active position different funds. Comparable weighted average active stock fund positions is 86.53%, down 0.32% compared to previous; partial shares mixed fund positions for the 83.99% weighted average, compared to a slight increase of 0.59% the previous week; configuration mixed fund positions weighted average 74.51%, compared to the previous Zhou went down 0.7%. Measured during the Shanghai and Shenzhen 300 Index fell 0.58%, slightly passive position variables.

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customize the direction of non-stock investment positions of other types of funds last week, has declined. Among them, the Capital Preservation Fund 34.24% weighted average positions, down 0.83% compared to the previous week; partial debt mixed fund positions weighted average 28.28%, down 0.54% compared to the previous week; Bond Fund 13.62% weighted average stock positions compared with the previous week 3.09% dropped significantly.

size of from different point of view, the average large-scale and the scale of the Fund less the same position. Three types of partial shares in the direction of active funds, large funds weighted average position 85.73%, compared to a slight increase of 0.36% the previous week. Medium-sized fund positions weighted average 84.45%, compared to a slight increase of 0.01% the previous week. The weighted average small fund positions 82.79%, down 0.77% compared to the previous week.

operating division last week, the Fund remains the same, but the opposite direction last week, slightly larger than the intensity reduction of holdings. Measured data show that net change in the passive position, the 135 Fund initiative to lighten up by more than 2% of the total estimated 26% of the Fund; of which 42 funds actively lighten up more than 5%. On the other hand, active Masukura obvious decline in the number of funds, 75 funds were active Masukura than 2%, accounting for 14% of estimated fund, of which only five active Masukura fund by more than 5%.

shows the horizontal distribution of fund positions last week, Shigekura Fund (position> 85%) decline, accounting for 47.48%, basically unchanged compared to the previous week; positions heavier Fund (positions 75% 85%) accounting for 23.06 percent, down 1% compared to the previous week; position medium funds (positions 60% to 75%) accounted for 10.27%, an increase of about 1%; position light or wet storage fund accounting 19.19%, accounting for essentially the same.

the beginning of the market trend is not out of shock, strong shock from the first week of shocks to the weak transition. Last week the market waiting to see economic data in 2010, and the pressure on monetary policy is still hanging, the overall confidence is not strong to do more. Shock in the index, the structural differentiation is increasingly clear, adjust the pressure in the small-cap stocks become more prominent. Therefore, a higher position in the overall level of the circumstances, the majority of positions in the Fund can only choose to adjust the structure slightly, although a quarter of market expectations, but no significant transfer positions or holdings of reality. From the specific fund of view, differentiation is still carried on the position last week, weeks before the pattern of China's more than just funds remained small and gradually Masukura situation, Castrol, Invesco Great Wall Fund's strategy also shows a similar, but when Bo's Fund showed signs of a reduction. Take the initiative to lighten up before the week was last week, Everbright Department to continue the operation of the direction of the Fund, its only active funds to lighten up more than 5%.