［1月13日］指数估值数据(螺丝钉定投实盘第398期发车；养老指数估值表更新）

Core Viewpoint - The market experienced a pullback, with the overall rating at 3.8 stars, indicating a pause in investment opportunities for stock fund combinations until a return to 4-5 stars [2][43]. Market Performance - All market segments, including large, medium, and small-cap stocks, saw declines [3]. - Growth-oriented sectors such as the ChiNext and STAR Market faced significant downturns [5]. - Conversely, value-oriented styles, including dividend stocks, showed overall gains [6]. - Some undervalued stocks in the market began to see a gradual increase in valuation [7]. Investment Strategy - Following a rise on January 12, both active and index funds have paused subscriptions [8]. - The company advises patience until the market returns to a 4-5 star rating before resuming stock fund subscriptions [9]. Fund Management - The company has initiated a phased profit-taking strategy for the CSI 1000 index, which has reached a high valuation [14][18]. - A methodical approach is being employed, selling 10% of holdings weekly over approximately 10 weeks, with recent sales yielding around 71% returns [20]. - Proceeds from these sales will be reinvested into the "Monthly Salary Treasure" fund, with plans to allocate funds to other products once they return to normal valuations [21][22]. Personal Pension Fund - The company continues to invest in the CSI 300 Dividend Low Volatility fund, while suspending investments in the CSI A50 until it returns to normal valuation [27]. - The personal pension index fund is a new investment category, with a maximum annual contribution of 12,000 yuan [27]. Upcoming Publications - A new book titled "Dividend Index Fund Investment Guide" is set to be available for pre-sale, aimed at educating investors about dividend index funds [30][31].