Not a 'portfolio reallocation order'! Over a thousand funds in the second batch have adjusted their benchmarks—what signal does the increase in equity benchmark weights for equity funds convey?

① Benchmark adjustments for the second batch of public offering products have commenced, involving nearly 100 fund management companies and over 1,000 products; ② The benchmark adjustment does not mandate portfolio rebalancing—the core rationale is to align benchmarks more closely with existing holdings, rather than adjusting holdings to conform to benchmarks; ③ Some equity-oriented products have increased the weight of equity benchmarks in their benchmarks, while certain FOFs have added gold futures contract returns.

cls.cnJun 26 18:18

CICC’s H2 2026 Outlook: Macro Liquidity May Be the Decisive Factor for Global Assets; Maintains Overweight on Chinese Equities and Gold

The bank believes that China's equity market may sustain its upward trend in the second half of the year and recommends maintaining an overweight position. However, given that the impact of overseas stagflationary pressures has not yet subsided and market sentiment remains elevated, volatility could increase; thus, it advises adding to positions on dips.

Zhitong FinanceJun 5 07:41

CICC's H2 2026 Outlook: Active Allocation Underway—Focus on Three Key Themes

CICC released a research report stating that overall market valuations are currently reasonable, but localized overvaluation persists, and greater attention should be paid in the second half of the year to the vulnerability and volatility risks in certain sectors.

Zhitong FinanceJun 2 07:49

The first batch of public fund benchmark adjustments takes effect today. Key point: this is a benchmark adjustment, not a portfolio rebalancing—such misconceptions should be clarified.

① Starting June 1, the first batch of adjustments to performance benchmarks for publicly offered funds will be implemented, covering 195 products from 12 fund management companies. ② According to the guidelines, the revised benchmarks will better align with the funds’ stated investment objectives and actual portfolio styles, rather than prompting portfolio rebalancing merely due to benchmark changes. ③ Why is the essence of this rectification not about 'reducing positions'? And why is its market impact considered limited? Our reporter investigates on the ground.

cls.cnJun 1 13:36

Daily Summary of Investment Bank/Institutional Views (2026-05-29)

Mini Program: Daily Summary of Investment Bank/Institutional Views — International 1. T. Rowe Price Group: Markets Still Underestimate the Fed’s Potential Tightening Policy Blerina Uruci, Chief U.S. Economist at T. Rowe Price, stated that markets may still be underestimating the likelihood of further monetary tightening by the Federal Reserve. In her report, Uruci noted that since early May, the conflict involving Iran has lasted longer than expected, oil prices have risen, and U.S. economic growth has remained resilient. While the Fed could disregard temporary energy-related shocks, sustained pressures from oil and import prices could affect inflation expectations, wage dynamics, and corporate pricing behavior.

Golden10 DataMay 29 16:09

Citi: Lowers Hang Seng Index target for this year to 29,600 points, more bullish on A-shares

Gelonghui, May 27 | Liu Xianda, China equity strategist at Citigroup, stated that given macroeconomic data in line with expectations, attractive valuations of Hong Kong and A-share equities, and the Chinese government's continued prioritization of technological development, he expects technology and exports to serve as key drivers of China equity market growth in the second half of the year. Consequently, he is more bullish on the A-share market, which has a higher weighting in technology stocks, compared to the Hong Kong market. The firm forecasts earnings per share (EPS) growth of 9.9% for the Hang Seng Index in 2026 and 11.9% in 2027. Due to a downward revision in the latter forecast, it has slightly lowered its year-end 2026 target for the Hang Seng Index to 29,600 points and introduced a 2027

Gelonghui FinanceMay 27 14:14