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World-renowned stock fund Allianz reduces its holdings in CATL by 10.56%, JPMorgan and other players remain optimistic
Chinese article by 旭亮
English Editor 张未名
03-04 18:42

Editing by Li Panpan                           

Allianz China A-Share Fund,  the largest international Chinese stock fund,  reduced its holdings of CATL(宁德时代), China’s leading global EV battery manufacturer by 10.56% in January 2022. The market value of its holdings was $445 million as of the end of January, JW Insights learned from the latest data.

The fund also reduced its holdings in East Money(东方财富) by 14.78%, and Energy New Materials Group(恩捷股份) by 12.23%. It increased its holdings in CITIC Securities by 15.29%, China Merchants Bank by 10.10%, and some others.

This is not the first time for the Allianz fund to reduce its holdings of CATL. In October 2021, it reduced the assets of its top ten holding stocks. Among them, the reduction in CATL was as high as 18.58%.

While the fund is not bullish on CATL, JPMorgan said it is bullish on stocks with the theme of renewable energy like “carbon-neutral,” and investment in those areas is with greater certainty. Its China A-Share Opportunities Fund I made a significant addition as high as 100% to CATL in October 2021.

Huaxi Securities also stated that the intelligent electric vehicle industry has undergone significant changes, reshaping the industrial order, and is optimistic about the future golden decade of the industry.

The sales of BYD and other new players are gratifying. Huawei teamed up with Seres to release a new high-end smart electric brand AITO. Tesla’s German factory will be put into production by the end of the year. The intelligent electric revolution is unstoppable, and it is optimistic about self-developed car brands in China and the innovative electric car industry chain.

Founded in 1890, the Allianz Group is one of the leading integrated financial services providers worldwide. Allianz China A-Shares, a product of Allianz global investors business, aims at long-term capital growth by investing in the China A-Shares market. Allianz global investors’ business currently has €673 billion ($741.16 billion) in assets under management for institutional and retail investors worldwide.

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