For Zhang Kun, the first half of this year is relatively tortuous. At the beginning of this year, he was out of the business quickly because of the capital management scale of more than 100 billion yuan. Later, he encountered the adjustment and division of core assets.
After half a year of combing, what adjustments did Zhang Kun’s portfolio make? What does he think of the current situation where some of the best companies are overvalued? What changes have taken place in the management scale after some products are closed to customers? Zhang Kun’s second quarter report revealed this one by one.
Yi Fangda small – and medium-sized market position fell, Zhang Kun term in the lowest
Compared with the report of the first quarter of 2021, the stock positions of four products of Zhang Kun all decreased to varying degrees in the second quarter.
Among them, Yifonda small and medium cap stock positions declined the most, its stock market capitalization accounted for the fund net asset value from the end of the first quarter of 94.58% to 71.07% or so, down about 24 percentage points. It is also the lowest quarter – end stock position since Zhang Kun managed E-Fonda’s small – and mid-cap, second only to the 72.19 percent reported in 2017.
In addition, the other three funds remain around 90 percent of the stock holdings, but they are still down slightly from the end of the first quarter.
Reprint indicated source：Shine Trader Limited Live information