Zijin mining industry is not under the "BP treatment" valuation and social responsibility is heavy?

Low drive high, this and a major pollution accident listed companies should be treated as a departure from the treatment. This is completely different from BP's treatment.　　This is because the impact of "one-off incidents" is not enough to allow the fund to opt out of the "investment perspective", given that the share price of listed companies is already undervalued. The fund did not collectively flee Zijin mining after the 13th Recovery card, although once plunged to 5.5 yuan per share, but then quickly pulled up, closing down 3.68%. 14th, Zijin Mining again low open after pulling up, the final flat.　　H shares fell slightly on 14th after plunging 12% per cent on 13th. "From the trend it is likely that someone is falling in the buy."　　"Analysts believe that agencies represented by the Fund certainly do not have collective votes, otherwise it will not be such a condition."　　It is clear that institutional investors for the purple gold mine tailings reservoir because of a large number of heavy metal leaking fluid into the tingjiang, causing serious pollution of the river, some of the river has a large number of dead fish, and conceal the 9-day news did not make an investment strategy on the fierce response. Although some fund industry people think "This is the domestic version of the BP", (BP offshore drilling platform in April this year exploded and a large number of oil leakage), but the capital market two companies have a completely different experience.　　BP's share price fell sharply after the accident, with its share price down one-third in just one months, and its market value evaporating nearly 70 billion dollars.　　Default is a one-time accident? "Personally, I think it should be thrown away, but from an investment standpoint, [Zijin mining] is not too big a problem at home," said a researcher at the nonferrous metals industry at a large fund company in Shanghai. "The Zijin mining industry is already the cheapest in gold stocks, according to valuations," the researchers said. In the valuation system of domestic fund companies, such pollution accidents are likely to be treated as "one-off accidents".　　If only the shutdown, rectification, for the tens of billions of assets of the Zijin mining losses controllable, the impact on valuation is not significant. That is why the fund continues to hold Zijin mining. "If the share price falls again, you can consider buying."　　"There are fund companies who think. As one of the weighting stocks in Shanghai, Zijin Mining has been held jointly by many public offering funds. Statistics show that at the end of 2009, 96 funds accumulated a total of 9% of Zijin mining shares.　　While many of the fund has been a large-scale reduction of the cyclical sector stocks, Zijin mining the top ten shareholder seats in the remaining 4 funds, of which 3 are passive allocation of index funds, but the total amount of fund holdings still can not be underestimated.　　In contrast, BP, the world's second-largest oil company, is a basic shareholder in all the global mutual funds and pension funds, but the fund company has been reducing BP shares after the accident, according to foreign media reports. "Major US investors are reducing BP's shares out of the need to beautify their accounts," said Paul, an analyst at Deutsche Bank, in a June study. "In fact, this has little to do with the valuation of stock prices, mainly by fund managersHow to explain to their (ethically, environmentally aware) clients that this stock exists in the portfolio.　　"Polluting companies are going to be abandoned. Domestic fund managers do not seem to think that the social impact of business is a need to focus on, shocking pollution in their visits to many listed companies have seen too much. However, in the context of the restructuring of the economy, they believe that the relevant departments in the follow-up treatment of the pollution incident is still worthy of concern.　　If, like BP, the Zijin mining industry needs to pay a huge amount of compensation and punishment for society, the impact will rise to financial levels, and institutional investors may not be able to sit down. However, in the process of industrial restructuring, the fund shouted the slogan of emerging industries more and more loudly. The Zijin mining industry, with its "tainted" cross, could be far more distant in the future.　　When the overall investment preference of the market shifts to emerging industries, high energy-consuming and polluting enterprises begin to shrink in the fund portfolio. In addition, more and more thematic funds appear, such as industrial social responsibility, HSBC Jin Shun Low-carbon pioneer, etc., directly to exclude such polluting enterprises from the selection. Although the current domestic such "green" provisions only in the contract of a single fund, but from the development of foreign funds, it does not exclude future fund companies will be included in the mandatory stock options.