Sinqi Pharmaceutical (300573.SZ), Spring Airlines (601021.SH), Midea Group (000333.SZ), Shanxi Fenjiu (600809.SH), and Zheng Meiji (601717.SH) have entered the top ten major stocks.
The Zhitong Finance App learned that on April 22, Fuguo Tianhui Growth Hybrid (LOF), managed by Wells Fargo Fund Star Fund Manager Zhu Shaoxing, revealed its 2024 quarterly report. Zhu Shaoxing made major adjustments to heavy stocks in the first quarter, replacing 5 of the top ten heavy-held stocks. Sinqi Pharmaceutical (300573.SZ), Spring Airlines (601021.SH), Midea Group (000333.SZ), Shanxi Fenjiu (600809.SH), and Zheng Meiji (601717.SH) have entered the top ten major stocks. Furthermore, Kweichow Moutai (600519.SH) is the largest holding stock, accounting for 7.99% of the fund's net asset value. As can be seen, Zhu Shaoxing's top ten major stocks in the first quarter focused more on the big consumer sector.
By the end of the first quarter, the total assets of Zhu Shaoxing's current fund were 27.72 billion yuan, a slight decrease from 28.3 billion yuan at the end of last year. The net share growth rate of the Fuguo Tianhui Growth Hybrid Fund was -0.58% for grade A/B and -0.78% for grade C. The benchmark yield for the same period was 2.58% for A/B grade and 2.58% for grade C.
In a quarterly report, Zhu Shaoxing pointed out that the overall valuation of the current market is in a very attractive position in the long cycle, and the equity market is in a good risk-return range. It is quite appropriate for investors to currently choose the expected level of return corresponding to market fluctuations. Under the current valuation, the dividend value style can still find better investment opportunities, but the quality growth style also has many investment opportunities. Wells Fargo Fund does not have the reliable ability to accurately predict short-term trends in the market. Instead, it focuses its energy on patiently collecting outstanding companies with great prospects and waiting for the value created by the company itself to be realized and market sentiment periodically returns at some point in the future.
At the level of individual stock selection, Zhu Shaoxing favors investing in companies with good “corporate genes”, perfect corporate governance structures, and excellent management. Zhu Shaoxing believes that such companies are more likely to create value for investors in the future. Sharing capital market benefits brought about by a company's own growth is the best way for growth funds to reap returns.