In Q2, actively managed public funds increased holdings in broker stocks overall; analysts said improving fundamentals support valuation upgrades.

As the industry’s Q2 reports were fully disclosed, the moves of broker stocks held by public mutual funds in the second quarter also came to light. Data shows that in Q2, public actively managed funds increased their holdings of broker stocks overall. Multiple individual stocks, including 广发证券 and 中信证券, saw their holdings increased by several tens of millions of shares. However, several broker stocks were also reduced. A broker analyst said that the increase in broker stock holdings by actively managed funds in Q2 mainly came from the strong performance of the tech-led market and elevated trading volumes, which boosted expectations for broker performance. Coupled with easing disruptions in liquidity conditions, the continued support from improving fundamentals has led to a clear upward revision of the valuation of the broker sector. (People’s Finance News)
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