Technology sector-- Bubble and Divine stocks

In the second half of 2020, the epidemic gradually stabilized, the economy, science and technology were back on the agenda, and the market officially entered "storytelling time." Technology stocks returned to the market darling, and the market index returned to a strong and volatile market one after another from the bottom region.

This year, technology stocks in the "squat take-off" to maintain a high concussion, individual stocks appear differentiation. At present, the development of the "core asset" science and technology innovation industry is a long-term trend, and the quality of technology stocks has been verified in the long-term market test, which is a reasonable high valuation. Under the epidemic, the trend of technological upgrading may be delayed, but it will not disappear.

Characteristics of Science and Technology sector and Investment Logic

The science and technology sector can be subdivided into 5G, semiconductors, communications, new energy, computer, artificial intelligence and other industries. Looking to the future, the trade conflict between China and the United States and the scramble for scientific and technological highlands will lead to the further development of strategic emerging industries represented by communications, semiconductors, power equipment, new energy and computers. The related demand driven by the capacity expansion of some enterprises and the consumption of durable goods will become the main line of the year.

Judging from the recent period of time, although the market is in shock and differentiation, the two main lines of rotation are also more obvious, one is to give priority to must-choose consumption, and the other is the growth of science and technology stocks such as semiconductors and communications. In the context of index shocks, consumer blue chip and technology growth stocks alternate performance, forming an obvious plate "seesaw" phenomenon.

How does the technology board get on the bus?

In the shock city, how do we step on the seesaw? If you are optimistic about a certain segment of technology, you might as well choose index funds that track global industry indices and related industry segments. For example, the semiconductor sector that detonated A shares led to a sharp rise in technology stocks. The semiconductor index rose 56% during the year.

With the recent rebound in the technology sector, the returns of technology-themed funds have also risen:

In addition, if you are optimistic about emerging areas where the long-term trend is very certain, such as new infrastructure and emerging industries, representative industries such as big data Center, 5G, power grid, charging piles, rail transit, chip manufacturing, etc., can also be planned.

Considering that the valuation quantile of the required consumer sector is already relatively high, we can gradually layout some recent stagflation technology and optional consumer sector opportunities, especially in electronics, communications, electric new, construction machinery, building materials, automobiles, home appliances and other sub-sectors.

In addition, we can judge the pros and cons of a technology fund from the following four angles:

Historical ranking-performance should be outstanding

New technology-themed funds are being set up, but it may be safer for ordinary investors to choose "Lao ji", which has been running for some time. Because the old fund has direct historical performance as a reference, it is convenient to measure the advantages and disadvantages, at the same time, the investment style is relatively stable, and it is more comfortable with the future operation; secondly, the historical performance and star rating of the old fund is also one of the important reference factors for us to make a choice.

Investment direction-- pedigree should be pure

After crossing the "performance" threshold, the further screening criterion is whether the fund's "science and technology pedigree" is pure. In other words, a high-quality science and technology fund must be deeply rooted in the field of science and technology. We can see intuitively from the proportion of investment in technology assets, and the investment style of the fund can be seen from the subdivision of technology fields such as information, communications, hardware and software.

Fund managers should be flexible in adjusting their positions

The surging winds and clouds in the field of science and technology can be called the most in many industries, and high iteration and high innovation are the inherent attributes of science and technology. In order to capture the excess returns for a long time, excellent science and technology theme fund managers can always accurately grasp the context of the future development of science and technology, and adjust their positions flexibly.

At present, the growth of the innovative enterprise market is facing real performance tests, such as semiconductors facing valuation pressure, new energy vehicles and consumer electronics facing performance tests, and the need to strengthen the screening of investments. all this requires investors to have a wealth of professional investment experience in order to screen out "real technology" with investment potential and performance support.

This is undoubtedly a painstaking and difficult task for individual investors. Therefore, it is a good choice to seize the investment opportunity of scientific innovation through fund managers and with the help of professional investment and research team.

Ding Tou-- the veteran driver of science and technology.

Finally, it is suggested that everyone can participate in the investment of science and technology active funds in the way of "fixed investment", and distribute the science and technology sector by lengthening the investment cycle and sharing the investment cost.

If you are optimistic about a certain subdivision, you can choose a corresponding index fund with strong growth and hold it in the form of monthly or weekly investment for a long time. I believe there will be considerable returns.