Significant retreat of some of the pharmaceutical funds’ net worth growth during the year

Significant retreat of some of the pharmaceutical funds’ net worth growth during the year

Sources: Beijing Commercial Daily (Reporter Meng Fanxia Liu Yuyang) was interrupted by industry factors in the negotiation of the medical insurance catalog, and the demand for market funds to stop profit after the double high growth of some stocks during the year. Recently, the pharmaceutical sectorThere has been a decrease, and the increase in the net value of pharmaceutical theme funds has also apparently retreated. Some funds have reduced their returns by more than 20 alternatives within 10 trading days, and their performance rankings are more likely to become the former’s winners, and the number will fall out of the top 10.

From the perspective of senior people, the sector adjustment may continue in the short term, but in the long run, the pharmaceutical sector still has better investment value.

  According to the flush flush data, the CSI Medical and Health Index has reached 10,541 since November 20.

Since the relatively high point of 02 points, the period of 10 trading days ending December 3 has gradually decreased by 8.


Among them, there were declines in 8 trading days, and there were many cases where the single-day decline exceeded 1%.

In essence, the overall decline of many leading pharmaceutical stocks such as Hengrui Medicine, Changchun High-tech, Aier Ophthalmology has also reached more than 10%.

  Under the short-term shock adjustment of the pharmaceutical sector, the net value of related theme funds has also apparently retreated. The decrease in net value of a few products during the year is more than 20 alternatives.

Taking active equity products as an example, according to Oriental Fortune Choice data, as of November 20, 13 of the common stock funds in the year (the separate calculation, the same below) yielded more than 80%, and the 杭州夜网论坛 pharmaceutical themeFunds accounted for 12 of them.

Among them, GF Healthcare shares were 100.

The 45% net worth rises to the top of the list. Agricultural Bank of China healthcare stocks, Chuangjinxinxin Healthcare Stocks A rank second and third, and the yield also reaches 95.

15% and 90%.

twenty two%.

  However, extending the performance calculation cycle to December 3, the yield of GF Healthcare stocks fell sharply by 77.

39%, performance decreased by 23.

06 foreign countries.

Over the same period, the net value of ABC Healthcare shares and Chuangjin Hexin Healthcare shares A also dropped by 19.

06 facts and 21.

29 averages.

  Coincidentally, the same situation also occurs in partial stock hybrid funds.

Oriental Fortune Choice data shows that, as of November 20, three of the top 10 partial stock hybrid 武汉夜网论坛 funds have pharmaceutical themed products.

Boshi Healthcare Industry Hybrid A, China-Europe Healthcare Mix C / A to 96.

37%, 93.

52% and 93.

23% of the year’s net worth turbines ranked second, fourth and sixth.

However, as of December 3, the performance rankings of the three funds were after the 10th, and the increase in net worth during the period decreased by 17.

03, 21.

08 and 21.

14 averages.

  A market analyst in Beijing believes that the recent adjustment of the pharmaceutical sector is related to the transmission of leading stocks in the early stage. It may also be disturbed by recent interventions in the medical insurance catalog, leading to the exit of funds.

In the short term, market adjustments may continue, but the space is relatively limited.

In the long run, the pharmaceutical sector still has better investment value.

  China Merchants Medicine Health Industry Equity Fund Manager Li Jiacun also said that most of the recent pharmaceutical sector is mainly related to the penetration of leading companies’ early gains and is estimated to be too high.

However, in general, the pharmaceutical sector is still one of the areas with the most determined growth in the future. There are two main reasons for this. First, the gradual medical expenditure is currently only 5% to 6%, and there is still room for improvement compared with overseas.The pharmaceutical industry is a project for people’s livelihood. The government will ensure that the annual medical expenditure will increase compared with the previous year.

  In terms of specific investment, Bohai Securities pointed out in a research report recently released that the current generic drug market has fully and fully presented market expectations, and companies that have the effect of feasible product effects and cost control capabilities under the big waves of sand may have value depressions.In the mid-to-long term, high-quality stocks that comply with policy progress and have fundamental support are still the hotspots in the market. Investors are advised to continue to pay attention to high-quality specialty pharmaceuticals leading in innovative drugs and high-quality coverage in the spillover of the industry chain.At the same time, companies are optimistic about high-quality domestic high-end equipment leaders under import substitution and consumer service providers with unlimited medical insurance restrictions.

  Li Jiacun said that he is optimistic about four directions: First, innovative drugs and their industrial chains. New drugs come out at consumers’ own expense. Even if they enter the medical insurance catalog, they are one-to-one with manufacturers. When they enter the medical insurance catalog, the price will also bring sales.The second is consumer medicines and devices, and the properties of consumer goods are not affected by the price reduction of medical insurance bureau control fees. The third is medical services. While reducing the proportion of drugs and high-value consumables, medical insurance bureaus have increased the level of medical service fees.Fourth, retail chain pharmacies. The division of medicine is the general trend. Outpatient pharmacies will gradually be replaced by chain pharmacies.

At present, the concentration quotas of the top six retail drugstores still have much room for improvement in the future.