ETF has become an important tool for fund layout at the bottom of the market. Since this year, ETFs in the whole market have received a net inflow of 137.95 billion yuan. Among ETFs with a net inflow of more than 1billion yuan, the Internet, science and technology, photovoltaic, pharmaceutical biology, animal husbandry, Baijiu and other popular track products have become the objects of capital competition. A number of public funds said that China's economic recovery is becoming stronger, bringing toughness to the A-share market. At the current stage, the configuration should be based on the long-term, focusing on the infrastructure industry chain and real estate industry chain related to steady growth, as well as high prosperity tracks such as science and technology, military industry, new materials and new energy. Net inflow of 42 ETFs exceeds 1billion yuan According to wind data, as of June 8, the total scale of 664 ETFs in the whole market has reached 1.06 trillion yuan, down from 1.13 trillion yuan at the end of 2021 under the background of market turmoil this year; From the perspective of capital flow, the whole market ETF has received a net inflow of 137.95 billion yuan since this year. As of June 8, a total of 42 ETFs had a net inflow of more than 1billion yuan this year. Among them, the net inflows of Huaxia Shanghai Securities Technology Innovation Board 50ETF and e-fund CSI overseas Internet ETF were 12.685 billion yuan and 10.817 billion yuan respectively, followed by Huaxia Hang Seng Internet technology industry ETF (net inflow of 9.919 billion yuan), e-fund gem ETF (net inflow of 7.77 billion yuan) and Haifutong CSI short-term finance ETF (net inflow of 6.52 billion yuan). In terms of product types, the above 42 ETFs are dominated by mainstream track products such as Internet, science and technology, photovoltaic, pharmaceutical biology, animal husbandry and Baijiu. In terms of the Internet, in addition to e fund CSI overseas Internet ETF and Huaxia Hang Seng Internet technology industry ETF, there are GF CSI overseas China Internet 30etf, etc; In terms of science and technology, there are Huaxia Hengsheng technology ETF, Huatai birui South Dongying Hengsheng technology ETF, Huaxia Guozheng semiconductor chip ETF, Guotai CES semiconductor chip ETF and other sub track products; In addition, there are theme products such as Huatai birui Zhongzheng photovoltaic industry ETF, Boshi Hengsheng health care ETF, Guotai Zhongzheng animal husbandry ETF, Penghua Zhongzheng liquor ETF, etc. The continuous net inflow of funds has led to an obvious increase in ETF shares. According to wind data, as of June 8, compared with the end of 2021, the share of 40 ETFs has increased by more than 1billion this year. The ETF share of Huaxia Hengsheng Internet technology industry increased by 19.444 billion, the ETF share of Huaxia Hengsheng technology increased by 11.235 billion, and the share of Boshi Hengsheng healthcare ETF, Penghua Zhongzheng liquor ETF and other products increased by more than 3billion. Investors' risk appetite improved significantly Behind the above changes, it reflects the optimistic prediction of "bottom layout" of funds through ETF. "Looking ahead to the third quarter, the economic recovery is becoming stronger and stronger, bringing toughness to the A-share market. In the long run, A-shares have a high cost performance ratio. At this stage, it is recommended that investors base their allocation on the long term." Wang Jing, chief strategist of ChuangJin Hexin fund, said. China Merchants Fund believes that investors in the current market have begun to face up to the expectation of stable growth, and performance certainty is still the core style that investors will focus on in the future. The market may change from simply focusing on performance certainty to focusing on the marginal improvement of performance certainty, and the investment main line of stable growth and demand will appear. In the view of golden eagle fund, the risk appetite of short-term and medium-term A-share investors has significantly improved, which is conducive to the continuous repair of the market. "In terms of the internal environment, a series of economic data show that China's economy continues to recover and is expected to enter an accelerated stage in June. In terms of the external environment, the Fed's policy expectations have become clear, the uncertainty of the geographical situation has dissipated day by day, and the stage that has the greatest impact on the global commodity market expectations has passed. Taken together, the current internal and external environment has shown marginal improvement, which is conducive to the further recovery of market expectations." Noah Fund said. Focus on stable growth related industrial chains Looking forward to future investment opportunities, Xiang Weida, chief economist of Great Wall Fund, believes that companies with solid fundamentals, upward long-term prosperity, undervalued value and high dividends should be strategically positioned for bargain hunting. We can continue to focus on the infrastructure industry chain and real estate industry chain related to steady growth on bargain hunting, including building materials, coal, steel and banking; From a medium - and long-term perspective, we can also focus on science and technology, military industry, new materials, and the new energy industry chain. Qianhai United Fund said that it is recommended to pay attention to three clues in the layout: first, the steady growth direction continues to increase, and the valuation switching of coal, building materials, chemicals and other sectors can be expected; Second, the growth direction. For example, the sectors such as Dianxin, automobile, electronics and military industry are under pressure in the early stage. At present, the epidemic prevention and control is improving, the upward space of US bond yield is limited, and the profitability of relevant industries is highly certain; Third, the post epidemic repair of the consumption sector is expected, especially the required consumption direction, such as medical beauty cosmetics, medicine, Baijiu, catering and other segments. Zhai Sen of Ping An Fund said that he was optimistic about the investment value of platform companies for a long time. After substantial adjustment, the cost performance of the Sci-tech Innovation Board has been gradually highlighted. The second half of the year is a good opportunity for the layout of Sci-tech Innovation Board companies, focusing on investment opportunities in high-end components, semiconductors, new energy, military industry, high-end manufacturing and other segments of high prosperity track. (Xinhua News Agency)