Read Fund Bulletin

August 12th, 2007

A look at changes in fund share quarterly funds will be disclosed “total end fund share” data. Fund size too large or too small, the Fund’s investment portfolio flows, investment style, such as difficulty investment will adversely affect the existence, 10 billion yuan more than the “aircraft carrier”, or around 200 million yuan of “micro-fund”, are worthy of our vigilance. Meanwhile, we should also pay attention to “fund share changes.” Large-scale purchase and redemption of fund managers would certainly due to the pressure of capital adjustment fund positions, the impact of investment returns.

Two positions can change Fund Fund Fund Quarterly Bulletin should also pay attention to changes in the positions. Because fund positions change reflects the fund managers trading for the next quarter of view. Generally, the more serious the fund positions or derivatives rate is, the more mean fund managers on short-term rates very optimistic.

We need to be aware that if the fund held positions than the same type of funds from many positions, the fund managers to be alert to the investment style too “maverick” If exposure significantly higher than other types of funds with a lot of exposure that this fund is in the high-risk high-yield win.

Looking at three fund portfolio funds which will disclose quarterly “Ten Awkwardness breakdown”, which is also inspected fund investment style and stock based on the important ideas.

Furthermore, can be viewed on the “continuity of shareholding.” If Awkwardness 10 are new faces every quarter, the Fund transferred positions more frequently, the fund managers are relatively short-term operation preferences.

Of course, the need to be reminded that the Fund’s quarterly reading not just look at the disclosure of the data, after all, the quarterly data only as of the last quarter of the last day, notice time and time investment portfolio already exist for 20 days around the time difference. In 20 days, perhaps as early as fund managers have “surreptitious.”

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Fund investment income

August 12th, 2007

Fund to invest in the stock market gains from three sources :

(a) investment target (stocks, bonds, etc.) to dividends and interest;

(2) capital gains, through the holding of general financial product price increases to achieve.

(3) Other income, assets of the Fund or of the costs included the cost of saving receipts.

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Financial Fund

August 12th, 2007

Fund financial management and many other things, not the best solution. If we really want to find an answer, which is : for them is the best!

A choice for their subscription or purchase fund approach : direct marketing or consignee.

If you like me is the computer low hand, always worried about hacking, about 2:30 after the derivatives good opportunity to plug the network was destroyed, then I advise you not feel bad that point the commission, obediently beside the banks of the pamphlet.

Two, if it is determined that the consignee, or choose a suitable place for himself to go to the banks.

Strongly recommended conditional apply to become a friend or family several VIP clients of the bank, so it has the exclusive VIP room, or special channel, which can greatly improve the efficiency of purchase and redemption.

3, according to their ability to bear the risk of selecting the most suitable type of fund.

Willing to bear high risks of high-yield comrades of the course and preferred-stock-index fund, risk tolerance than choice of a weakened balance-type and configuration. If only compared to the high-yielding bank deposits, and proceeds to fund the expectations are not high comrades, bonds and keeping the type-choose. If risk aversion type of friend, simply choose Monetary Fund.

4, in accordance with his own personality, his own choice for the fund.

Even stock funds, but also each have their own style. Some fund radical personality, very emotional, so you either ___________________________________________ or hatred and poverty. Psychologically acceptable coaster ride of a friend can choose such funds.

5, based on the Fund’s quarterly Awkwardness and choose their own investment portfolios.

Although the Bulletin is lagging behind, but we still have some options Fund, he said. We can see that some of the funds focused on the frontline blue chip, large blue chip, the second-tier blue chip plc, has focused on small capitalization growth stocks.

6, the top choice of the Fund and decided to fund fund choices.

Fund fiscal pursuit of the long-term, stable value assets, long-distance running championship is our idol. Day to day or week’s ranking is not meaningful, and may mislead us. I chose to fund the standards is not too high, and only requires it to a monthly, quarterly, half a year, one year of the four ranking three hundred within the former can be. I think everyone should give out their own funds for performance, good performance to lay eggs, the poor performance can eat meat.

7, the choice of financial instruments Fund financial support.

Many of my friends use Excel software management fund, the effect is very good. For the owners of the Fund more than a friend, can also be used to launch of many fund management tool. I prefer the “Fund interactive network” of “fund favorites.” With these tools, you can go on their busy study and work, we can sit back and relax for the fiscal Fund.

8, in accordance with the revenue situation to choose their own way Markets.

Some friends of salaried class, income is not high but stable, or the chic “Moonlight clan” who want to “Small is big” bull enjoy feast, it had better selection for the Fund to purchase. Ready for the show more than 1,000 yuan to buy chicken friend, as “autonomy will vote” is down on Gran Canaria and closes down small increases, sellers are free to decide the time. This form may be set to vote than the yield will be much better.

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Funds of funds reconfigured product concern

August 12th, 2007

The so-called FOF (Fund of Funds, as “funds of funds”), as the name suggests, is a specialized investment and other securities in the Fund’s financial plan. At present, domestic brokerages were issued five FOF products, in addition to securities investment funds-the first half of the year results were below the average open-end fund proceeds, the remaining four were higher than the average open-end fund receipts.

Among them, China and Thailand Zijin 2 in June fell by 14.69% large, open-end fund net average growth of 0.12%, was still a 4.4% growth.

FOF products major investment funds and merit closed-end funds. Merchants Securities Hangzhou Huye South turnover Shen Yu said, FOF does not directly invest in stocks, but to invest in the fund is to invest in the stock options outstanding merit fund, so the relative risk than investing directly in small funds.

Public-fund with different broker’s reconfigured financial plan generally proceeds compensation arrangements, such as the enhanced-fund optimization plan, will be used to collect management fees to compensate investors for the earnings pool plan expires, to meet the terms of compensation during the share of the yield (of 2003) is below 8 .86%, the share of managers in charge of all management fees to the holders of compensation until the share of the yield period (of 2003) was 8.86% management fee or compensation is completed.

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Europe and the United States market in the Asia-Pacific dramatic decline in the stock market generally fell

August 11th, 2007

Subject to credit crisis, the Tokyo stock market closed on the 10th plunge is expected on the 13th week likely continue to fall.

Integrated foreign August 10, followed on the 9th U.S. and European markets dramatic decline in the Tokyo stock market closed sharply lower because of global credit crisis began to panic emotional impact of Japanese investors.

The Nikkei 225 index closed down 406.51 points to 16,764.09 points, or 2.4%, the market was active again. Tokyo stocks on the 9th the dramatic oscillation, turnover reached 3.81 billion shares, in November 2005 the highest level since. On the 9th of the index rose 141.32 points.

The Tokyo Stock Exchange, including an all stock, the index fell 49.88 points, to 1,633.93 points, or 3%.

A Tokyo Stock Exchange, 1,445 stocks fell, 235 rose, 44 stocks unchanged.

Traders were traded in speculation, a lot of selling, or from more than one large investment funds, which face difficulties, forced to settle in the Japanese market positions to meet investor redemptions.

A European brokerage houses chief dealer said, which could result in a domino effect, causing more fund selling, on the 13th week the stock market may further decline. He also said that domestic transactions are basically surprised and afraid, maintain sideways.

Since 884.6 07 shipping stocks, metal stocks and steel stocks ranked the worst performers.

The market crash caused the fuse is BNP Paribas (RR) suspended three credit market fund’s net asset value, the reason is the flow completely lost its lead impossible to accurately calculate the value of the Fund. Korean stock market closed on the 10th dropped 1,828.49 points away

Korean stock market closed on the 10th dropped 1,828.49 points away

South Korea on the 10th stock market closed lower by 4.2% to 1,828.49 points, on July 3 lowest close since, also set on May 17, 2004 has been the largest single-day decline.

Integrated foreign August 10, by the global credit crunch worries transferred to inspire investors hedge bond market, the National Bank and other financial stocks led by scrapping, on the 10th Korean stock market closed down 4.2% to 1,828.49 points, on July 3 lowest close since. also set on May 17, 2004 has been the largest single-day decline.

Samsung Electronics and other export shares fell because of fears that the United States suboptimal mortgage loans threatens to undermine South Korea’s second-largest export market for economic growth; Hyundai Heavy Industries plummeted 7%, after the company announced lower-than-expected operating profit.

Week composite index fell 2.6% in line, and since July 26 record high of 2,015.48 points touched has been down 9.3%, 720 billion dollars in market value this disappearance.

KTB Asset Management chief executive ChangIn-whan said that this is a structural crisis, at least October before the market may not be a significant rebound in Danger; Now see more banks expose on the United States suboptimal remanded loan losses related sites, such cases may be difficult to come to an end in a short period of time.

Singapore Straits Times stock index fell on the 10th to 3,359.20 points

Singapore shares Straits Times Index closed on the 10th decline 54 points to 3,359.20 points, or 1.6%, the downtrend by the trend economic growth inhibition.

Integrated foreign August 10 report, before most Asian markets to the United States secondary mortgage issues affected the expansion expressed concern that the Singapore Straits Times stock index closed lower on the 10th of 54 points, or 1.6%, to 3,359.20 points, recovering some early set at 3,318.93. The Nikkei fell 3.4% to 3,298.42 points.

Turnover was basically the same, with 22.7 million shares, on the 8th of 23.9 million shares.

171 shares rose, 736 shares fell.

Dealers said the local stock market on the 13th week volatility may continue, subject to market uncertainties, but the decline may be limited.

But another dealer said the market may from Singapore’s strong economic data buoyed the same time, the Monetary Authority of Singapore (Yam of Singapore) said it would provide liquidity to meet short-term market demand for funds.

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The rising trend of large shocks unchanged

August 11th, 2007

Subject to regulatory weekend worrying expected last week, large reach the 4,200 point loss. However, the public are suspicious of the weekend bad news does not exist. Thus, the choice facing the direction of the market trend will be more inclined to multi-week strength proactive Moreover, the market is very abundant funds, once the panic mentality to be calmed down, do more optimistic mood, and will promote large shocks this week uplink.

Raising interest rates, abolition of interest tax and the introduction of tax resources, environmental tax and regulatory means, as short-term investors pay close attention to the focus. Since the stamp duty unexpected incident, the words haunted the market individual investors, this psychological state is being nonbelievers. Similarly, the latest release of May consumer prices, industrial added value and fixed asset investment data, and the trade surplus and other economic indicators across the board, the community and aroused the concern of management. A surge in economic operation and regulation promulgated intensive expected, showing control policy is not limited to the stock market. But raising interest rates, abolition of interest tax and the introduction of tax resources and no change in the higher-than-expected economic growth and the listed companies in profit growth. In appreciation of the renminbi against the backdrop, securities, real estate, the bulk of capital flows into commodities the best alternative, residents can divert the savings trend will not change, it is clear the bull market has not shaken the foundation of the next bull market will continue.

Capital flows from last week, the blue-chip and high-quality pre - Hei Chung PO stocks funds chasing the target, showing new fund and OTC funds propelled the policy guidance, the market-leading performance of the main line toward speculation. The current management further delay in launch control policies, but continued to issue large-cap H-shares and speed up the return of the stock to increase the supply of funds to alleviate the excess. So calm market news and stable market environment, it will help continue to do more dynamic. However, in 4300 Heavyweights point region, still face-off sites and taking short-term pressure, which is over the rising trend not to change.

Based on the above analysis, quality blue chip units and the performance is reported waves rates will usher in investment opportunities, on the one hand, nonferrous metal, real estate, machinery, automobile boom continued growth of quality units should be worth the wait, on the other hand, the performance is reported substantial growth in units, in its short-term profit opportunities. However, holders of low-priced stocks is mainly low performers consecutive 45 plunged stabilized units groups of investors can still held on patience, short of such units, there are still opportunities to rebound.

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