Institutional Killema Fengki discount rate Innovation Low

Wu Xiaojin Recent Fengki plate rising momentum is quite "fierce", its two-tier market performance is significantly stronger than the stock market is quite "strange." Discount rate fell sharply yesterday Fengki Plate continued to continue the recent strong trend, the cities and the new Year to refresh the rally since the new highs.　　With the exception of rich days, the rest of the Fengki has risen. In fact, the recent Fengki plate in a strong rise in the discount rate has dropped sharply. Over the weekend, with the exception of 3 innovative Fengki, the average discount rate for the remaining Fengki has hit a new low this year, just 21.6%.　　The discount rate of more than 30% of the Fengki "collectively disappear", the discount rate of more than 20% of the only 21.　　Last week, when net worth of Fengki fell by an average of 0.05%, the price of its two-tier market rose by an average of 2.69%, of which, with the almost unchanged net worth, the price of the two-tier market rose by as much as 10.98%, and the premium rate was significantly enlarged. Wanguo research reports that in the short term, closed-end funds in the discount rate quickly narrowed, the risk has increased, the late performance may gradually slow down, in the stock market upward trend has not changed, closed-end funds will still be smooth performance, but once the stock market risk increase momentum lack, closed-end fund risk may be greater,　　The discount rate has increased risk, so prudent investors are advised to invest prudently.　　The multiple factors help to push the closed-end fund performance is obviously stronger than the stock market, which has many factors. Wanguo Research report that, on the one hand, is to increase the factor, in the early stage of the stock market rapid rise, closed-end fund gains relatively backward, in the current stock market stagnation, closed-end funds to increase the momentum; On the other hand, the current stock valuation on the high, and the larger,　　Funds began to favor closed-end funds with a discount advantage in order to obtain security. In addition, Wang Qunhai, an analyst with the Galaxy Securities Fund, believes that most Fengki have reaped substantial returns this year, benefiting from a sharp rebound in the market, with Fengki average net worth growing at nearly 30% per cent.　　The important reason for the recent strength of Fengki is that some organizations have already begun to lay Fengki in advance, and the goal is to Fengki dividends in the interim.　　In fact, the Fengki of the interim dividend has been a considerable controversy in 2006, since then, most fund companies in the end of 2006 to its closed-ended fund income distribution provisions of the amendment to the Fengki income distribution once a year to allocate at least once a year.　　Last year, the market fell sharply so that only 8 closed-end funds have dividend conditions, since this year Fengki accumulated profits, investors in the medium-term dividend expectations clearly increased. Wang Qunhai that, in view of the previous part of the institutional investors to Fengki a large range of reduction, the city may have better dividend expectations, do not rule out a lot of institutional investors "fanshen into the market", pick up the chips.