2023-05-08 07:23:29
In the post-epidemic era, all eyes are on the next stage of China’s economic recovery.Compared to Alibaba （09988）
Tencent （00700）
Fund managers have bet on 4 major sectors in recent months, including information digitization, media and entertainment industries, industries driven by “revenge consumption” and real estate developers and management. The following are 15 of these large-scale funds’ holdings stock only:
Fund managers increased their holdings of Chinese stocks in recent months
Fund managers are adding to media companies, ranging from firms to financial information platforms, according to a new report from ratings agency Morningstar.JPMorgan has been building positions since DecemberFocus Media(Shenzhen: 002027), the additional issuance of shares occurred in February 2023, with a cumulative increase of 2.2 million shares. Information shows that Focus Media is a company that operates outdoor in China and is also responsible for online .
The and game industries are showing signs of recovery, and the media industry is being sought following
“Schroder Global Fund Series – Greater China” and “Value Partners Value Fund” choose to invest in financial and stock information websitesOriental wealth(Depth: 300059). Value Partners aggressively bought nearly 7 million shareholder wealth in the fourth quarter of 2022 to make this stock a top 10 investment in the fund’s portfolio. Before the end of March this year, the fund still maintained full exposure to Oriental Wealth, ranking sixth in the portfolio weight, accounting for 4.8% of the fund with a total value of US$1 billion.
Morningstar said that assuming that Tencent’s booming sales and game revenue are signs or evidence of industry recovery, it is believed that the entertainment market this year is bound to be better than last year.
Mainland household deposits increase, entertainment consumption looks promising
Among them, the short video platformBilibili （09626）
(US: BILI) andTencent Music(US: TME) was increased by Schroeder’s Greater China Fund in December last year.The “Schroder China Enterprising Stock Fund”, which holds an onshore stock strategy, increased its holdings in March this yearMango Super Media(Depth: 300413). This is a new media company headquartered in Changsha, Hunan. It mainly operates brands and businesses such as Mango TV, Mango TV, and Happy Go.
Besides home entertainment, domestic travel is another area Chinese consumers want to spend. Domestic flight capacity of China’s major airlines will exceed initial expectations and is expected to soon exceed 2019 levels, according to Morningstar estimates.According to the data, many industries expected to benefit from “retaliatory consumption” have been increased by funds, includingCathay Pacific （00293）
、Huazhu Hotel(US: HTHT),Chuanhu Technology(Taiwan: 2059) andYifeng(Taiwan: 8464).
In addition to the above three directions, fund managers also re-invest in mainland real estate and property management stocks that are on the “cliff edge” and generally unpopular in the market. Morningstar said fund managers had not shunned these “survivors” in the wave of defaults, although some failed companies were still restructuring in the debt-laden industry.For example, Value Partners will increase its holdings by 4.5 million shares in the fourth quarter of 2022Vanke （02202）
JPMorgan Chase also increased its holdings by 700,000 sharesChina Overseas （00688）
。
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