On January 22nd, there was a rumor circulating in the market that BlackRock was seeking to sell Shanghai office buildings at a 30% discount. In addition, on the 13th and 15th, BlackRock announced a series of personnel appointments in the Asia Pacific region, and some market insiders speculate whether the China strategy of the world's largest asset management institution has changed.
On the 22nd, a spokesperson for BlackRock responded that BlackRock's wholly-owned public fund companies and joint venture wealth management companies in Shanghai are operating normally and will not comment on individual investment projects. The company will continue to be committed to its long-term development strategy in China to meet the investment needs of domestic investors and help them achieve financial goals.
It is understood that the rumored Shanghai office building project being sought for sale is a private equity investment fund managed by BlackRock's overseas real estate investment team and has no connection to BlackRock's domestic business.
At the same time, with the end of the disclosure of the fourth quarter report of public funds, BlackRock's latest holdings and investment strategy have surfaced, and corresponding adjustments have been made to the top ten heavily held stocks in the portfolio.
As of the end of the fourth quarter of last year, among BlackRock's top ten preferred mixed heavy holdings in the industry, Haili Wind Power replaced Sanwang Communications as the largest heavy holdings. Fund manager Shen Yufei also included individual stocks such as Shanxi Fenjiu, Sanmei Group, and Industrial and Commercial Bank of China in the top ten heavy holdings.
In addition, BlackRock China New Vision's top ten mixed heavy position stocks include China Mobile, Stevie, Kweichow Moutai, CNOOC, Sanmei, etc. Compared with the previous quarter, its top ten heavy positions have changed except for three stocks, namely Kweichow Moutai, China Mobile and Zijin Mining.
"In the fourth quarter, the portfolio increased the software and hardware technologies needed to benefit from new products in the consumer electronics sector, such as the electronics and mechanical equipment sector, as well as the chemical sub sector where some varieties experienced a rise in both quantity and price, and individual stocks with strong independent logic. In addition, the portfolio reduced its allocation to the food and beverage sectors and the non-ferrous metals sector, which may be affected by the global economic downturn, in the fourth quarter." BlackRock China's New Horizon Hybrid Fund Managers stated in the Four Seasons Report.
Not only BlackRock, but also a group of foreign-owned public funds such as Luboma and Fidelity have started to significantly adjust their positions.
As of the end of the fourth quarter of last year, the top ten heavy holdings of Luboma China Opportunity Hybrid were Sanuo Biotechnology, Shennan Circuit, Kongbei, Xinbao Co., Ltd., Stone Technology, Bowei Alloy, Lixun Precision, Gushengtang, Tongkun Co., Ltd., and Cosi Co., Ltd. in sequence. Among them, Sanuo Biotechnology replaced Stone Technology as the fund's largest heavy holdings, while individual stocks such as Dongfang Yuhong, Huawang Technology, Gree Electric Appliances, and Huatai Securities were transferred out of the top ten heavy holdings.
The allocation of the top ten heavy positions of Fidelity for six months was successively changed to CNOOC, Shaanxi Coal Industry, Kweichow Moutai, Midea Group, China Shenhua, Lixun Precision, Zijin Mining, Conch Cement, Hikvision and Oriental Wealth. Mainly reducing positions in consumption and real estate, and increasing positions in high dividend sectors. Currently, the position allocation is more inclined towards high dividend sectors.
In response to investment opportunities in 2024, these foreign public funds will pay more attention to undervalued pro cyclical sectors, emerging industries such as artificial intelligence, and Chinese companies going overseas.
Fu Da Inheritance Fund Manager Zhou Wenqun is optimistic about the new cycle demand in the consumer electronics sector, as well as the replacement cycle brought about by the return of Huawei phones. We are still optimistic about the direction of Chinese enterprises with obvious competitive advantages going abroad, and these local enterprises will gradually develop into global enterprises. BlackRock will also allocate undervalued pro cyclical sectors according to the pace of economic recovery.
BlackRock Advanced Manufacturing's one-year holding period hybrid fund manager will mainly explore investment opportunities for technological innovation, pattern enhancement, and territory expansion, focusing on four areas: first, the opportunities brought by emerging technologies such as artificial intelligence, robotics, virtual reality, and satellite internet for various industries; The second is the structural changes in social demand that drive demand for high-quality enterprises with a good competitive landscape; Thirdly, there are investment opportunities for Chinese enterprises to go abroad, with a focus on selecting enterprises with excellent overseas operation experience and products with international competitiveness; The fourth is related companies that have deeply benefited from the energy revolution, such as new energy, power reform, and other fields. (CCTV Capital Eye)