公募基金三季度加倉港股，青睞電商保險股，減持“中字頭”
港股市場於9月觸底反彈，醫療保健、非必須性消費、資訊科技較強，而能源、電訊回調；前期超跌的成長風格大幅反彈，紅利價值風格則有所調整。
國金證券統計的信息顯示，三季度公募基金投資港股的倉位明顯提升，使得達到“公募港股基金”倉位標準的基金數量增至451只，規模合計4860億元，對比二季度的數量增加64只、規模增幅21%，且已連續兩季擴張。
港股倉位新高，“AH平衡”適度向港移倉：三季度多數公募港股基金的股票倉位上調，且四個類別“港股通高港股”、“港股通AH平衡”、“港股QDIl高港股”、“港股QDII-AH平衡”港股佔淨值比皆創近三年新高，分別達81%、38%、80%、39%,以“AH平衡”的港股佔比升幅最明顯。
行業方面，頭部行業集中度上升，配置集中於互聯網平台相關行業以及醫藥和非銀，熱點方向有所收窄。2、大幅加倉港股商貿零售(新入港股通的阿里)、非銀(有盈利改善預期的保險)、醫藥(連續兩季大幅資金流出後的風險收益比上升)、社會服務(美團、同程旅行)等。
上半年領升的石油石化、通信、公用事業等資源及紅利板塊被大幅減持，A股食品飲料(白酒)連續兩季減倉。“港股QDII”普遍兑現美股電子。
重倉股風格以大市值龍頭領銜的科技板塊成為主流加倉方向，“中字頭”大型保險股也頗受歡迎；一些中等市值的醫藥及消費股亦成為當季熱門。
三季度公募港股基金呈現大中市值風格強化的特徵。
重倉股方面，頭部個股“一超多強”,公募港股基金對“騰訊”共識度有小幅加強，“美團”佔比提升，新入通的“阿里”備受青睞；而二季度熱門的“中海油”、“中移動”抱團鬆動。
重倉“騰訊”的基金數量282只持續領先，且三季度新增33只基金重倉；“美團”、“阿里”依次有192只、126只基金重倉，且分獲42只、113只新增基金；“小米”電動車業務備受關注，獲21只新增基金重倉；港股重拾升勢也使“港交所”重回17只基金視野；“同程旅行”、“寧德時代”依次新增16只、15只基金重倉；醫藥股“科倫博泰”、“康方生物”分別吸引13只、12只新增基金。
基金批量撤離“中字頭”，上季大熱門“中海油”被66只基金剔出重倉，“中移動”從31只基金重倉中淡出，“中石油”重倉基金減少20只，“中廣核電力”、“華能國際電力”分別減少14只、12只重倉基金。
三季度季共816只重倉股，有682只收升；重倉港股281只，當季收升232只。升幅領跑的是新上市的“老鋪黃金”(110%),共5家基金重倉、含1家新增；地產股“中國金茂”(98%)子公司業績提升顯著,但僅有1只基金重倉；券商股“中國銀河”(88%)、“中信證券”(87%)分別新增2家、5家基金重倉；醫藥股“藥明康德”(87%)共10家基金重倉、含4家新增，“康方生物”(82%)吸引12家基金新進重倉，重倉基金共達32家。
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