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Gem Means Low &Nbsp; Fund Managers Are Still On The Fence.

2011/5/30 9:59:00 63

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Gem Low Innovation Fund

since this year on

Gem

The index fell steadily, hitting a record low of 813.64 points last Friday.

Reporters learned that

fund

At present, the manager is still not enthusiastic about gem, and even many fund managers believe that the adjustment of the growth enterprise market may not be over yet.

Data show that last week, the gem fell more than 6%, in the 221 stocks have more than 50% breakage, many stocks were cut.

This year, the fund industry is generally cautious about investing in GEM companies.

A fund manager in Shenzhen said he was not very optimistic about GEM companies, mainly because many GEM companies reported 2010 annual reports and 2011 quarterly reports this year, showing low performance growth rate, much lower than the market expected.

"Last year, many fund managers had high expectations for the gem, and the initial research on GEM companies was not thorough. After participating, it was found that they were not as good as expected. Therefore, fund managers are generally cautious about GEM companies."

"Some GEM companies

achievement

Too bad, the valuation is very high, and many companies have to drop 80% to be reasonable. "

Another fund manager also said that structural risk is the biggest problem in the market at present. The valuation level of gem and small and medium board does not match its profitability and growth. The adjustment is far from over.

With the continued fall of most companies, the confidence of market participants will continue to be beaten and beaten, and the overall market trend is not optimistic.

Investment director of a fund company in Shenzhen also said that from the second half of last year, he predicted that the gem might fall down, and it would be too difficult to find companies like Microsoft and Google from the gem.

Another Shanghai fund manager also said that although there are some companies with explosive growth from the big probability events, it is hard to say that the overall investment in gem is optimistic.

"I will dig out a gem company with better investment opportunities through research, but the overall participation will not be great because of the greater risk."

Data also show that, compared with the valuation of A shares, gem is still expensive.

At present, the average price earnings ratio of Shanghai and Shenzhen 300 is about 13 times, close to the lowest level in history, while the average price earnings ratio of the gem is still about 43 times.

In addition, most fund managers believe that with the clear trend of the economy in the second half of the year, Blue-chip company, which underestimated the value of the market together, will provide a good return for investors.