Gold rally to boost the gold fund general need to guard against speculative funds withdrawal risk-www.baid.com

The price of gold rebounded boost Gold Fund rose wary of speculative capital withdrawal risk / reporter Ding Ning, edited by many recent Longbow news, the international stock market fell after another, risk aversion of investors increased sharply, the international price of gold soared to $1200 an ounce, rose by 16% over the year, with gold investments for the fund products become the object short-term capital chasing. Analysts said, compared to the gold theme fund QDII gold ETF, lower transaction costs, and can be used as a short-term hedge varieties to be concerned; but need to be reminded that, due to hedge funds generally speculation comes also in a hurry, hurry, when risk asset prices stabilize rebound, a substantial impact on this part of the funds may also lead to withdrawal the price of gold, need to pay attention to the risk. "Golden Week" gold eye-catching Spring Festival "Golden Week", gold as the representative of the hedge assets to gain eyeballs. Affected by many news, the recent international stock market fell sharply, in this context, investors’ risk aversion has increased significantly, the international gold prices soared sharply. Last week, the international gold price rose as high as 7.05%, the highest weekly rise since December 2008; this year, gold has risen by 16%, breaking the $1200 ounce. Statistics show that as of last weekend, this year huitianfu gold and precious metals QDII net up 9.67%, ranking first in all QDII fund; harvest gold, gold and gold 3 yifangda lion global gold theme fund followed, or the year was 9.50%, 9.36% and 9.35%. 1-2 in 2016, the global financial market fierce turbulence, short-term hedging properties of gold increased, as of February 15th COMEX gold has risen 15%; for the first time the Fed rate hike is an important cause of the financial turmoil, the interest rate effect is questioned by the market, the market expected the Fed will raise interest rates to slow, weakening factors to suppress the price of gold." Yifangda gold ETF fund manager Lin Weibin said. Turning round gold prices, the general manager of Huaan fund index and quantitative division Xu Zhiyan think there are three main factors: first, super currency, gold scarcity and monetary attribute determines the price rising demand; secondly, before the Fed rate hike to suppress the gold, but when the United States is really after the rate hike, found rate hike expectations is not strong and the global economic downturn, the recovery momentum weakened; moreover, the global stock market has plummeted, strong demand for hedging. The trend in the gold price debate is that, after the short-term rebound in gold prices, the agency’s expectations are not entirely optimistic. It’s hard to say whether it’s a big reversal." Xu Zhiyan said: "the gold rebound is still there, from the asset allocation, gold is still a good standard, from the trend of the future price of gold, or in the trend." In fact, the recent price of gold has indeed stimulated the enthusiasm of short-term funds for fund products with gold as the investment target. In February 15th, A shares opened on the first day, 4 gold ETF total turnover of 370 million yuan, 3 times more than before the Spring Festival, of which Huaan gold ETF scale most theory

金价反弹助推黄金基金普涨 需警惕投机资金撤离风险   ⊙记者 丁宁 ○编辑 长弓   近期受诸多消息影响,国际股市接连大跌,投资者避险情绪明显升高,国际金价随之大幅飙升至1200美元 盎司,年内涨幅超16%,部分以黄金为投资标的的基金产品成为短期资金追逐的对象。   分析人士表示,相较于黄金主题QDII基金,黄金ETF的交易成本更低,可作为短期避险品种予以关注;但需要提醒的是,由于避险投机资金一般来也匆匆,去也匆匆,当风险资产价格企稳反弹之时,这部分资金的撤离也可能引发金价的大幅冲击,风险需要重视。   “黄金周”黄金抢眼   春节“黄金周”, 以黄金为代表的避险资产赚足了眼球。   受诸多消息影响,近期国际股市接连大跌,在此背景下投资者避险情绪明显升高,国际金价随之大幅飙升。上周国际金价周涨幅高达7.05%,创2008年12月以来最高周涨幅记录;而今年以来黄金已上涨16%,突破1200美元 盎司。   数据统计显示,截至上周末,今年以来汇添富黄金及贵金属QDII净值上涨9.67%,在所有QDII基金中排名首位;嘉实黄金、易方达黄金和诺安全球黄金3只黄金主题基金紧随其后,年内涨幅分别为9.50%、9.36%和9.35%.   “2016年1-2月份,全球金融市场剧烈动荡,黄金的中短期避险属性增强,截至2月15日COMEX黄金累计上涨15%;美联储首次加息是此次金融动荡的重要诱因,加息效果受到市场质疑,市场预期美联储会减缓加息节奏,压制黄金价格的利率因素减弱。”易方达黄金ETF基金经理林伟斌表示。谈及此轮黄金上涨,华安基金指数与量化事业部总经理许之彦认为主要有三个因素:首先,货币超发,黄金的稀缺性和货币属性决定了其价格有上涨的诉求;其次,之前美联储加息打压黄金,但是当美国真的加息后,发现加息预期并不强烈且全球经济不景气,复苏势头减弱;再者,全球股市接连暴跌,避险需求强烈。   争议金价走势   需要指出的是,短期金价的反弹之后,机构的预期并非完全乐观。   “是否大的反转不好说。”许之彦表示:“黄金反弹幅度还是有的,从资产配置来说,黄金还是很好的标的,从金价未来走势,趋势还是在的。”   事实上,近期金价的确刺激了短期资金对于以黄金为投资标的的基金产品的追捧热情。2月15日,A股开市首日,4只黄金ETF成交总额达3.7亿元,是春节前3倍之多,其中华安黄金ETF规模最大,超过15亿,交投也最活跃,2月15日成交量近3亿元。   “市场的不确定性使黄金为代表的避险资产受到欢迎。”博时基金指数投资部王祥表示:“以往投资者投资A股以绝对回报为主,而黄金投资是追求保护性的资产,绝对增值收益不明显,但今年全球经济有许多不确定性因素,市场短期大幅波动,投资者应从资产增值转向资产管理。”   在他看来,从绝对收益角度,今年黄金投资也不会很差。一方面黄金基本面有改善,黄金跌了5年,上游厂商减产,以中国为例,去年中国需求980多吨,产量是450吨,供应紧张局面已显现。另一方面,投资者早在去年已从黄金市场撤出,今年股市、汇市等市场的资金由于避险原因,蜂拥回流黄金市场,黄金市场容量不大,引起价格上涨。   不过他也提醒投资者,由于前期黄金价格出现了一波迅猛的涨势,短期内或有回调风险。“此外,由于避险投机资金一般来也匆匆,去也匆匆,当风险资产价格企稳反弹之时,这部分资金的撤离也可能引发金价的大幅冲击。”   从2月16日情况看,在股市全线上涨的背景下,投资者避险情绪有所趋缓,4只黄金ETF当日价格均出现下跌,其中国泰黄金ETF下跌2.18%,跌幅最大。   黄金ETF效率更高   济安金信基金评价中心表示,是否要“掘金”,需依靠投资者的投资偏好来决定;但单从投资黄金的角度而言,相较于黄金主题QDII基金,黄金ETF是投资黄金较好的投资工具。   “QDII基金申赎时间长,各项费率较高,考虑到交易成本以及交易效率,故不对QDII黄金基金做推荐;而黄金ETF是投资黄金较好的投资工具,其一,相较于实物金而言,黄金ETF基金通过场内交易非常便利,且流动性强。其二,ETF基金可以日内反转,从而提高投资效率”。   资料显示,目前4只场内ETF基金分别为国泰黄金ETF、华安易富黄金ETF、易方达黄金ETF、博时黄金ETF。   “参考场内基金流动性等指标,更推荐投资者依次关注易方达黄金ETF及华安易富黄金ETF基金,以上两只基金在‘今年以来’净值增长率都达到9%以上,在A股市场大跌的背景下,作为避险品种,投资者可予以多多关注。”济安金信基金评价中心表示。   不过好买基金则认为,黄金ETF与黄金QDII型基金虽然波动相似,但黄金QDII型基金净值更高,这是由于投资黄金QDII不仅分享到了金价上涨收益,还可得到美元兑人民币升值的收益。与直接换汇相比,在没有大额申购限制的背景下,QDII基金可以无限购买。因此,在现阶段,无论作为分散风险的工具,还是稳定收益的选择,黄金QDII都是一个难得的投资机会。 进入【新浪财经股吧】讨论相关的主题文章: