四季度调仓进行时 “专业买手”青睐两大方向

Group 1 - Fund advisors are adopting a cautious investment approach in Q4, reducing allocations to active equity funds while increasing investments in index-enhanced products and sectors that hedge against volatility, such as non-ferrous metals and non-bank financials [1] - In October, the equity fund index fell by 2.21%, and the ordinary stock fund index decreased by 2.04%, indicating a challenging investment environment [1] - The overall allocation to the pharmaceutical and biological industry decreased, while the non-ferrous metals and non-bank financial sectors saw the highest increases in allocation by 0.52 and 0.39 percentage points, respectively [1] Group 2 - Non-bank financials are viewed as a sector that shares market beta, with recent market sentiment stabilizing, presenting potential trading opportunities [2] - After a rapid decline, gold has regained some interest from fund advisors, with specific funds increasing their positions in gold ETFs [2] - The new tax regulations on gold trading have introduced additional costs for physical gold delivery, impacting consumer prices, but have not significantly affected financial market transactions like gold ETFs [2]