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The characteristics of stocks purchased by social security funds, the advantages and disadvantages of holding shares by social security funds

Release Time:2022-05-06 Topic:Is it better to invest in mutual funds or stocks? Reading:10 Navigation:Stock Liao information > Comprehensive > Social Insurance > The characteristics of stocks purchased by social security funds, the advantages and disadvantages of holding shares by social security funds phone-reading
Stocks purchased by the social security fund can't be said to be good or bad, but they must be stable. Before the fund buys a stock, it will do detailed research, such as fundamental development prospects. When adjusting, the awkward stocks of the fund are showing good resilience.

Here are a few things to watch:

1. Whether the size of individual stocks is small, usually small-cap stocks are relatively easy to rise after a large number of funds are stocked;

2 is the number of heavy funds. If more than one fund enters, it will still rise with the market when the market is good, but once it weakens, it will fall faster than the market;

3 is the style of the fund that mostly follows suit. If you encounter such a fund with heavy positions, basically entering the market together with retail investors, there will be no good market.

The Social Security Fund is the National Council of Social Security Funds, the management and operation agency of the National Social Security Fund, entrusted by the State Council to manage the Central Social Security Fund. The investment scope of the National Social Security Fund is limited to deposits in banks, the purchase of government bonds and other financial wages with good liquidity. There are five types of financial instruments, including fixed-income assets, domestic shares, foreign shares, industrial investment, cash and equivalents, and their respective proportions are specified.

Judging from the social security fund's transcripts over the years, the market has not been disappointed. In the past ten years, social security funds have basically reached the level of positive returns, and the overall market environment in 2018 is not good. However, in the context of the annual decline of the Shanghai and Shenzhen markets of about 30%, the social security fund has only a negative rate of return of less than 3%, which is really not easy.

Let's move forward in time. In the past two decades, the Social Security Fund has suffered relatively few years. In addition to the investment losses in 2018, under the global financial tsunami in 2008, the annual performance of the social security fund was not too bad. In the extreme state where the market fell by more than 60%, the loss of the social security fund was less than 7%, which is obviously not simple. Judging from the investment performance of the social security fund in recent years, it has been able to outperform the vast majority of institutional investors in the same period. In the past two decades, the compound investment return realized by social security funds through investment appreciation is even more amazing. Therefore, the stocks purchased by the Social Security Fund are still good.

In 2019, when the entire A-share market began to bottom out and usher in a trend reversal, the social security fund's 2019 report card was quite dazzling. Data show that in 2019, the equity investment income of the social security fund reached 291.718 billion yuan, and the return on investment reached 14.06%.

Although there are obvious differences in the performance of the Shanghai and Shenzhen markets in 2019, the performance of Shanghai is significantly weaker than that of the Shenzhen Main Board and the ChiNext market, but even so, the social security fund's investment in the rate of return can reach 14.06%, which is also a relative better performance. This yield level can beat most investors.

When the market environment improves, social security funds can basically achieve stable investment in yields, and sometimes even continue to outperform the gains over the same period. When the market environment is relatively low, the pullback of social security funds is very limited. Even in the face of extreme market conditions, the performance of social security funds remains stable, which is inseparable from the efforts of professional management teams and effective asset allocation strategies.

For the vast majority of investors, it is basically difficult to outperform the performance of the market index over the same period, let alone outperform the performance of the social security fund. It can be seen that for ordinary investors, learning the investment style and asset allocation strategy of social security funds may bring them a lot of useful lessons. Sometimes by controlling a group with a well-known institutional investor, there may be an unexpected return on investment. However, it should be noted that it is unrealistic for investors to copy or keep up with the investment strategy of the social security fund, and sometimes it can only be used as a reference. The reasons are mainly reflected in several aspects.

The quarterly disclosures of companies listed in it have a certain time lag. be a public companyWhen the quarterly report was disclosed, it showed that the Social Security Fund was one of the top ten shareholders of tradable shares in listed companies. However, the average shareholding cost of the social security fund is difficult to calculate accurately, and certain errors will inevitably occur. At the same time, due to a certain lag in the disclosure of quarterly reports, sometimes the first quarterly report shows that the social security fund is involved, but when the listed company discloses the second quarterly report, the social security fund may have withdrawn from the top ten tradable shareholders, bringing investors Certain miscalculation.

Furthermore, if the social security fund is promoted to the top ten tradable shareholders of listed companies, investors can still obtain public information. However, if the shareholding ratio of the social security fund is relatively low, and it is not among the top ten tradable shareholders of listed companies, it is difficult for investors to consult through public information at this time, and there are certain asymmetric factors in information disclosure.

At the same time, social security funds often choose stocks for diversified investment. There are different funds of funds in social security funds, instead of focusing on investing in a single stock. In actual circumstances, it is precisely because of the diversified investment in stocks that the asset allocation of social security funds is more effective, and risks can be further dispersed, thereby reducing the risk of individual stock price fluctuations and the uncertain operation of a single listed company. However, this kind of diversified stock investment is often suitable for large institutions with funds to allocate assets, but it is difficult for investors with limited funds to do so

In addition, the social security fund itself has certain advantages in terms of funds, information and policies. For example, institutional investors such as social security funds will have certain advantages when allocating new shares. For years, the myth of undefeated new shares has persisted. Under the background of high listing premium, it will bring considerable investment returns to institutional investors who allocate a certain proportion of new shares, which is difficult for ordinary investors to imitate.

Over the years, the social security fund has realized the appreciation of physical assets by investing in stocks, bonds and other assets, which has indeed brought good results to the preservation and appreciation of the social security fund's assets. The stocks purchased by the social security fund can be used as a reference. The successful investment of the social security fund has certain reference significance. However, for ordinary investors, it is difficult to imitate the assets of the social security fund in the absence of professional management capabilities, capital advantages and information advantages. Allocation strategy and investment approach. About the fund winner Wealth Network also introduced the content of what a public fund is. You can learn.

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