Creating a new high!These funds have made a chance to make a lot of money. Is there still a chance in the next two years？

Original Yu Shipeng broker India

As of the closing of December 8, the Indian Sensex30 Index has approached 70,000 points, exceeding the historical high that just set on December 4th.

From the perspective of stretching, the Indian Sensex30 Index has been closer to 13 times from 2000 to the present.Benefiting from this, public fund -raising funds that have laid out the Indian market in advance have reached double -digit income this year.Related funds are mostly in companies in India's finance, consumption, industry, energy, medical care and other companies.

At present, the current valuation of the Indian market is slightly lower than the average value. From the perspective of next year, next year, or even more, the current valuation level is still attractive and cost -effective.

The fund has reached double digits during the year

As of now, the domestic public funds in the Indian market include the Manuri Fund and the ICBC Credit Suisse FundJinnai Wealth Management. The corresponding products are the Manuria India Opportunities Stock Fund (QDII) and the ICBC Creditette India Market Fund (LOF).

According to Wind, as of December 8th, the Huili India's Opportunities Stock Fund (QDII) has increased by more than 15%since 2023, and the yield of nearly one month has exceeded 5%.Fund was established in January 2019 and is currently the only active management fund in India in the market.ICBC CITIC India Market Fund (LOF) is a fund in a fund, which mainly invested in related funds (including ETFs) that track the Indian market abroad to achieve an effective tracking of the Indian stock market trend.The fund was established in June 2018, and as of the end of the third quarter of this year, it was 1.142 billion yuan.According to Wind, as of December 8th, the fund has also risen by more than 15%this year, and has increased by more than 10%since November alone.

The rise in Indian funds is a microcosm of the Indian market in recent times.As of December 8, the Indian Sensex30 Index has increased by more than 14%during the year, making the market value of the Indian stock market exceeding $ 4 trillion for the first time, second only to the United States, India and Japan.Since January 2000, the cumulative increase has approached 1300%.

Xia Chun, the chief economist of Fang Dejin, told a reporter of a broker that the Sensex30 Index contains 30 Indian weight stocks, which increased by more than 11 times in June 2021. The Dow Jones Index, which also included 30 stocks, rose only by 2 in the same period.Times; the Nasdaq 100 index also rose only three times, which was far lower than the India's "Beautiful 50" technology stock index index.

According to the observation of Liu Weilin, the fund manager of the ICBC Credit Suisse Fund (LOF), in recent years, the Indian stock market has performed well in recent years. Except for the 2020, the epidemic has fallen well, and other years have performed well."We checked the data flow data and found that from 2003, the inflow of foreign capital in the Indian stock market is basically positive. Except for 2022, it may be that the Federal Reserve started to raise interest rates last year.Domestic capital is continuing to flow into.

Highlighting economic data brings toughness to the stock market

The fund manager of the Walm India Opportunity Stock Fund (QDII) told the brokerage Indian reporter that the strong background of the Indian market is still its own growth logic; the outstanding economic data allowed the Indian stock market to significantly fall in other markets in the second and third quarters.Great toughness.The GDP data in India exceeded expectations in the third quarter of this year, mainly contributing to the relatively weak secondary industry in the past, which allows the market to further increase India's annual GDP expectations.

In 2021, Xia Chun paid attention to the booming market in the Indian market.He pointed out that as early as 1992 in 1992, India adopted a registration system to ensure the quality of the listing stock market.At the same time, the supervision is strict, the number of delisting enterprises is large, and the survival of the fittest promotes the overall profit growth of the market.In addition, opening up and foreign investment in the outside world is an important valuation driving force to promote the "long bull" of the Indian stock market.According to Xiachun observation, foreign investment has gradually become an important driving force affecting the market valuation of the Indian stock market in 2003.

At the level of micro -company, Xiachun pointed out that as of June 2021, there were about 6,000 listed companies in India, and about 700 companies with a market value of more than $ 200 million, accounting for about 10%.It can be seen that the market value of Indian companies is still low, and it has a huge growth space and attracts the inflow of funds.

"The stock market is more reflecting the profitability of a national market and investor expectations. From our fundamental analysis, India's economy is developing at a relatively stable speed. When we established this fund in 2018Its long -term investment value. "Liu Weilin analyzed the brokerage Indian reporter that the service industry of the Indian economy has developed well, and the IT industry, generic drugs, and film industries have certain advantages.From the perspective of MSCI India Index distribution, the previous major industries are finance, information technology, consumption and energy, etc., which are all industries in India.

Liu Weilin's analysis was verified in the positions of public funds.As of the end of the third quarter of this year, the stock positions of the Huali India's opportunity stock fund (QDII) were more than 85%, mostly in India's financial, consumption, industry, energy, medical care and other fields.According to Wind data, the Bharti Airtel LTD (Ba Di Telecom Co., Ltd.) and Sun Pharmaceutica L Industries LTD (Sun Pharmaceutical Co., Ltd.)As of the end of the third quarter, the ICBC CreditEase Indian Market Fund (LOF) has invested in the scale of India ETFs exceeding 1 billion yuan, accounting for nearly 90%of the fund's total assets.186 million yuan, followed by Ishares MSCI INDIA ETF (185 million yuan), Wisdomtree India Earnings (171 million yuan).

The current valuation is attractive and cost -effective

For investors, what is the most concerned about what is the level of the Indian market after a long rise?Is there a chance to intervene?

In this regard, Shi Jing said that in terms of structure, India's large -cap stock valuation is not expensive.The degree of internationalization of the Indian stock market is relatively high. Overseas institutional investors are important forces. In the third quarter of this year, a strong US dollar led to some overseas institutional investors out of the Indian market.Reflected in small and medium -cap stocks."India is an economy that is growing rapidly. If you look at next year, next year, or even longer, the current valuation level is highly attractive and cost -effective."

Liu Weilin used FORWARD EPS to inspect the valuation of the Indian market over the past five yearsJaipur Wealth Management. He believes that the current valuation multiple is more than 20 times, which is slightly lower than the average value of the past five years, which is relatively reasonable."Judging from the valuation time sequence of the past five years, except for twice the standard deviation of the below 2020 below 2020, there are basically not double the standard deviation at other times.India's economic development or stock market has confidence. The valuation of the Indian market is not particularly cheap in emerging market countries.There is not much foam. "

In terms of the company's investment value for a long time, Xia Chun analyzed that in the past few years, the reforms such as the commodity and service tax promoted by India have been running in the running -in stage, and the timing of India's economy is increasingly accelerating.It is difficult for companies that violate regulations to operate, and the market share of inferior companies continues to decline, and the market share of high -quality companies is continuously increased.As the market environment has begun to improve, high -quality companies will have obvious advantages, which is long -term beneficial to the Indian stock market.

"From a long -term perspective, India's demographic dividend and engineer dividend advantage has great potential, and the development trend is relatively healthy. We observed in 2023 that India's power generation has increased by 20%year -on -year, while coal and steel imports have significantly significant imports year -on -year."Growth." Liu Weilin said.

Original title: "A new high!These funds have made a chance to make a lot of money. Is there still a chance in the next two years?"Indore Stock

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