Fund managers are optimistic about the global economy’s stock holding money for bargain hunting oppo 香醉迷艳txt

Fund managers are optimistic about the global economy’s stock holding money for hunters time before 2015 FX168 news in the global stock market change, a management 90 billion in assets of the fund manager has been playing cards should feel safe. And today, he still feels that nothing can change his view. As CEO, the Magellan Global Equity Douglass Hamish Fund manages over 99% of its peers over the past 5 years. As of April last year, he raised the cash position of the fund to about 14%, ready to meet the expected extreme adverse situation in the stock market. In fact, Douglass had a sense of crisis as early as 2014. Today, nearly 16% of his funds are in cash, tying the highest percentage since 2009, and are not planning to buy stocks right now. Douglass said on Thursday (February 18th) in an interview, "we are willing to hold cash, and we took a lot of measures before the turmoil started."." Global stock market began to decline in May 2015, and in August of that year, with the devaluation of China’s RMB, the stock market decline increased. In 2016, the situation became more and more serious, oil prices fell, concerns about the Chinese economy and the slump in bank shares led to the first fall of the MSCI global index for 5 years. Douglass is still on the alert, but this is not the same reason. According to the data collected by foreign media, in the 9 billion 100 million dollar fund directly operated by Douglass, the largest 5 billion 400 million Magellan Global Equity Fund accounted for the largest proportion. Magellan Financial Group manages assets totaling 27 billion 800 million US dollars. Magellan Global Equity Fund returns 0.4% in the past year, better than 90% of its peers. MSCI global index fell 13% in the same period. It has been shown that over the past 5 years, the fund has an average annual return of 17.8%, better than 99% of its peers. (photo source: Peng Bo, FX168 financial network), but the reason why Douglass insists on cash is not that he expects the Chinese economy to land hard. In fact, he’s very bullish on the global economy. "Our central prediction is that China will not collapse, the renminbi will not collapse, and the U.S. economy will continue to recover in the coming years," he said." In his view, the problem is valuation. If the economy recovers and the Federal Reserve raises interest rates step by step, some favorite stocks will be overvalued. Once these stocks fall, he says, he starts buying. Douglass believes that the reason why many high-quality stocks still seem to be very expensive today is based on the assumption that there is always zero interest rate." Douglass sold stocks and holdings of cash before the fall of the stock market. In 2014, 7-8 months, its global stock fund cash positions increased by more than two times. To on

顶尖股票基金经理看好全球经济 持币以待抄底时机   FX168讯 早在2015年全球股市变天之前,一位管理着90亿美元资产的基金经理就已经觉得应当打打安全牌了。且时至今日,他依然觉得没有什么可以让他改变这个看法。   作为首席执行官,Hamish Douglass管理的Magellan Global Equity Fund过去5年的业绩超越99%的同行。截至去年4月份,他把基金的现金仓位提高到大约14%,准备迎接预期中的股市极度不利局面。   事实上,Douglass早在2014年中就有了危机感。如今,他的基金中近16%的仓位是现金,追平2009年以来的最高比例,而且眼下不打算马上买入股票。   Douglass周四(2月18日)在接受采访时称,“我们乐于握着现金等待,我们远在这轮市场动荡开始之前就采取了很多措施。”   全球股市从2015年5月开始下跌,到当年8月份,随着中国人民币贬值,股市跌势加大。进入2016年之际,这个局面变得越发严重,油价下跌、对中国经济的担心和银行股的重挫导致MSCI全球指数5年来首次跌入熊市。Douglass依然很警惕,但这次的原因不一样。   据外媒汇总的数据显示,在Douglass直接操盘的91亿美元基金中,规模54亿美元的Magellan Global Equity Fund占比最大。Magellan Financial Group管理的资产总计278亿美。Magellan Global Equity Fund过去一年回报率0.4%,好于90%的同行。MSCI全球指数同期下跌13%。据显示,过去5年,该基金年均回报率17.8%,好于99%的同行。   (图片来源:彭博、FX168财经网)   不过,Douglass坚持现金的原因并非他预计中国经济硬着陆。实际上,他很看好全球经济。他指出,“我们的中心预测是中国不会崩溃,人民币不会崩溃,美国经济未来几年将继续复苏。”   在他看来,问题在于估值。如果经济复苏、美联储循序渐进加息,有些万千宠爱的股票会显得估值过高。他说,一旦这些股票下跌,他就会开始买入。   Douglass认为,“当前许多优质股票看上去依然处于很贵的原因实际上是基于永远零利率的假设。”   Douglass在这轮股市下跌行情开始之前就卖出股票、增持现金。2014年7-8月间,其全球股票基金的现金仓位提高了两倍多。至于什么时候开始买股票,他准备等一等。   他认为,“中国未来12个月将保持稳定,如果是这样,随着美国利率升高,会有一些很有意思的价格重新定位,为我们提供部署投资的机会。”   校对:Mac 进入【新浪财经股吧】讨论相关的主题文章: