金融报告(8)

《投资组合管理（双语）》课程报告Portfolio Report班级金融13-2班学号2013026605（01）姓名历佳欣olicy Statement：In the face of the pressure of the economic downturn, to better use the optimization of investment structure, to reform the system of investment and improve the investment efficiency measures, for the steady growth of create more favorable conditions is placed in front of us reality problem. Continued good policies, capital market injected fresh blood to the source of a constant. And after that, in the face of the pressure of the economic downturn, the better use to optimize the investment structure, to reform the system of investment and improve the investment efficiency measures, for the steady growth of creating more favorable conditions.First talk about the infrastructure investment. Studies have shown that, infrastructure investment for stimulating national economic growth and private investment has a significant positive influence, among them, transportation and water systems and other areas of the investment effect is more significant and more lasting. At present, China's infrastructure investment growth although running at a high level, but with the advance of new urbanization, Midwest transportation, communication network, oil and gas pipelines, and other infrastructure investment demand potential huge, to infrastructure investment as expanding public works of the main starting point "will undoubtedly in the steady growth and stable investment play the main engine.Look at manufacturing investment. China's manufacturing industry is to invest a higher degree of marketization, in recent years, the decline in investment growth, private investment growth rate down, mainly affected by factors such as excess capacity. Especially in the 30 years of high-intensity, large-scale development and construction, investment in traditional manufacturing industries is relatively saturated, food manufacturing, chemical products manufacturing, non-ferrous metal smelting industry investment downward trend of the fear will continue. But with in-depth implementation of the "made in China 2025" Internet "action plan and strategy, manufacturing industry will appear network, digital, intelligent profound changes, manufacturing industry investment there will be another round of development opportunities.First, continue to increase investment in major infrastructure projects, which are the national economy padded short board is an important focal point, the primary way to large public investment. Especially to focus on investment in shantytowns and reconstruction of city underground pipe network, water conservancy and other livelihood projects, as well as the Midwest railway, information technology and facilities in the next generation, oil gas pipeline and gas storage, the major construction projects The Belt and Road channel. Secondly, increase manufacturing and innovation in the field of investment, which is a key way to strengthen the real economy.Assets Allocation：For how to build a portfolio I choose a robust portfolio, buying stocks. Bonds and cash, respectively, to buy 10000 shares and 1000 shares of bonds and some cash in the presence of a bank to do the flow of funds.Securities Selection：Stock purchase Shanghai Pudong Development Bank for bondNo. 04 to buy bonds, cash in the Construction Bank.Shanghai Pudong Development Bank's core informationIncome (a): 0.696 PE (dynamic): 6.19Net Worth: 15.96 book value: 1.08Total revenue: 42.19 billion year on year: 27.89%Net profit: 13.92 billion year on year: 24.37%Gross margin: 0.00% net profit margin: 33.27%ROE: 4.50% debt ratio: 93.34%Total share capital: 19,650,000,000 total value: 338 800 000 000 Outstanding shares: 18,650,000,000 current value: 321 600 000 000 Retained earnings per share: 5.280 yuanTime to market: 1999-11-10Stock: Expected rate of return=2.65%Standard deviation=0.08459Bond: Expected rate of return=6.89%Standard deviation=0.15Cash: Expected rate of return=0.35%Standard deviation= 0.15Shanghai Pudong Development BankNational debtThrough the above investment combination, we can see that this is a robust portfolio of stocks, bonds and cash with different number of collocation can make us different types of portfolio can be obtained through the.The company has broken through the traditional reflective material business capacity bottlenecks, profitability rebounded. Set by the project micro prismatic reflective film has achieved sales of some products, is expected to be the first to put into operation in 2015, a strong drive to improve performance, the next three years the company will maintain rapid growth. The company actively enter the field of lithium batteries flexible packaging films and optical film, functional film to a comprehensive business transformation, the future is vast.Evaluation of Portfolio：For cash just for a rainy day and ready to respond, but on China's current deposit interest rate has dropped to 0.3%, so in fact the liquidity ofmoney but I do not need much to play safe most of the funds set aside to my personal point of view or to secure the main, I also bought a country Treasuries. While the stock in order to save time I chose a stock, although there are some risks, but for simplicity I so chose Shanghai Pudong Development Bank shares.For determining an effective portfolio is a very complex decision-making process, we already know that the risk is part of the portfolio by increasing the number of assets and eliminate this part of the risk is called unsystematic risk. Non-systematic risk is the possibility of the company's own shares for some reason caused by falling stock prices, it only exists in relatively independent of range, or individual industries, it comes from the micro-factors within the enterprise. This unique event risk arising from certain securities or a certain industry, such as bankruptcy, breach of contract, systematic contact with the entire stock market does not occur, this is the total investment risk in addition to the risk of accidental systemic risk outside, or called residual risk.Therefore, constructing efficient portfolios to avoid some of the unsystematic risk is necessary.。