[The stock market is changing, and the hedging strategy encounters Waterloo? 】

It is understandable that QDII products are slightly inferior to the global leaders in A-shares/Hong Kong stocks due to their overseas asset targets. However, the weak performance of hedging strategy products can only be said to be untimely! Taking ICBC Absolute Return and Deppon Quantitative Hedging as an example, 60% to 70% of stock holdings are not low, and they are all blue-chip large-cap stocks such as Kweichow Moutai and Ping An of China. However, their highly discrete holding style means that their top ten holdings only account for 24% and 7% of the fund's net value. Although diversification can make profits in the general rise, the fluctuations are not as significant as concentrated heavy positions. What's even more fatal is that short positions in stock index futures have become "negative assets" in unilateral market conditions!

Among the ten active equity funds with the lowest performance rankings, five adopt hedging strategies, and all showed short positions in stock index futures in their second quarter reports. These positions, which were supposed to be used to hedge downside risks and control losses, became the main source of losses. Funds with different strategies are created to respond to different market environments. Hedging strategies that can "stop bleeding" in a bear market will not perform as well as theme funds with concentrated positions in a unilateral bull market. This is actually inevitable from the beginning of the design.

For investors, "diversifying positions and diversifying risks" means not only holding different funds, but also holding different strategic funds and flexibly adjusting according to the market. This is the real way to diversify positions! #HBO纪录片或揭示中本聪身份 #灰度拟推出AAVE信托基金 #美SEC对Ripple案裁决提出上诉 #9月小非农数据高于预期 $BTC $ETH $BNB #非农人数大幅升温