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Choosing a medical fund? Allow me to think differently!

Time: January 9, 2020 14:34:43 China Finance
Today I want to talk with you about the investment ideas of the 2020 pharmaceutical theme fund. If there are hot topics in the A-share market in the past 2019, the pharmaceutical industry is definitely one of them. However, some small partners holding pharmaceutical funds can also clearly feel that since November last year, the trend of the pharmaceutical sector is obviously not so strong, and it still appears in the forefront of the sector's decline from time to time. So can the pharmaceutical theme fund continue to invest in 2020? The answer is yes. The question is still how to choose?

Senior investors know that for the segment of the pharmaceutical sector, there are generic drugs, innovative drugs, traditional Chinese medicine, biological vaccines, medical machinery, medical services, and even pharmacy sales channels. For those who want to worry about it, tracking the whole index The index fund of pharmaceuticals is still a good choice. Anyway, the performance of industry funds with “one-stop-all” is always at the mid-level of industry investment. Take the GF China Securities All Index Medical and Health ETF as an example. In 2019, the growth rate was 34.72%. Last year, the performance was far ahead of the index fund's active stock selection medical theme funds. However, some medical active funds are underperforming. Refers to the medical index, so everyone's investment ideas naturally think about how to choose from the active stock-type medical funds.

From the performance of various pharmaceutical sub-segments since November last year, the generic drugs in the sub-segments are affected by the volume purchase policy, and the trend is obviously weaker. However, the performance of the two sub-segments of biological vaccines and medical devices is eye-catching from time to time. Taking today's (January 9) morning trend as an example, the medical equipment sector led the gains. Boji Medical , Aier Ophthalmology , Tiger Medical , Libang Instruments , Lepu Medical , and Nanwei Medical all increased by more than 5%. In addition, affected by the Wuhan incident, the growth rate of the biological vaccine sector also advanced, such as Wanfu Biological , Antu Biological , Jianfan Biological , and Mike Biological , which also all increased by more than 5%. Obviously, the bio-vaccine and medical device segment is less affected by the policy, and the performance and profit growth are relatively more certain.


So the question is, is the active medical fund good? The fund manager can select individual stocks from each subdivision medical sector, but how can I judge that the latest positions are mainly based on biological vaccines and medical devices? If you look at the published quarterly report, the data is still in the third quarter of 2019, and there is no special reference significance. Please allow the commander to use a different way of thinking today to select the past year's performance data as a reference, but focus on comparing the performance since 2020 and in the past month.

The figure below shows some active pharmaceutical themed funds that the commander has taken time to select. The performance scale is more than 100 million yuan and this year (as of January 8, 2020, the same below) the growth rate is ahead of the Shanghai and Shenzhen 300 over the same period, and then according to nearly 1 Sort monthly performance gains. After finishing, it was found that the three funds of Anxin Consumer Pharmaceuticals, Harvest Health Care Stocks, and Huaxia Medical Health Hybrid A had a sharp increase in the leading CSI 300 in January, and they also performed well this year. If the selection is based on the 2019 annual results, it is estimated that these three funds will hardly win everyone's eyes, only 32.98%, 52.34%, and 43.45%. In addition, combined with the overall performance in recent January and this year, the commander believes that Great Wall Healthcare Hybrid, Harvest Pharmaceutical Health Stock A, Warburg Bio-Bio Hybrid, ICBC Frontier Medical Stock, Southern Healthcare Flexible Allocation Hybrid, ICBC Medical Health Stock, The performance of China Merchants Pharmaceutical Health Industry Stock, Shanghai Investment Morgan Medical Health Stock, and ICBC Medical Health Stock A also performed well.

So what do the commanders think of the recent performance of pharmaceutical funds that have performed well? What is the overall performance of their fund managers? From the table below, the fund managers of ICBC's cutting-edge medical stocks and ICBC's health care stocks are both Zhao Bei (female). Compared with the CSI 300 (hereinafter the same), the cumulative period of service has an excess return of 55.44%; the second is Great Wall Tan Xiaobing (female), mixed fund manager of healthcare, has 54.38% excess income during his cumulative term. Huaxia Chen Bin, ICBC Credit Suisse Tan Donghan, and China Merchants Li Jiacun all performed well in excess returns. I wo n’t read the specific list. Note that the performance of the pharmaceutical sector is different due to different term of office, so the historical excess income situation is for your reference.


Well, if you are still struggling with how to choose a medical theme fund in 2020, you may wish to refer to the different thinking of the commander. Is there any effect, let time to verify. (Fortune)
Zhongcai
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