Huabao S & P Oil & Gas bottomed these funds for 3 consecutive years
“Public Offering 2019” Part Four: “It’s better 北京桑拿洗浴保健 to buy stocks than stocks.” Who is holding back?
On the last trading day of 2019, the Shanghai Stock Index closed at 3050.
12 points, an increase of 22 during the year.
3%, the best performance since 2014; SZSE Component Index closed at 10430.
77 points, with an expected growth rate of over 44%, hitting the largest annual increase in nearly a decade.
However, what is even more eye-catching is the public transcript.
In addition to the number of fund issuance and issuance shares both breaking historical records, stock funds and bond funds performed well, the best overall performance in the past five years.
The average annual rate of return of stock funds in 2019 exceeds 47%, and 90% of stock funds have beaten the performance benchmark.
Among them, the top three funds with the best returns are all managed by GF Fund Manager Liu Gezhen, which is the first 深圳桑拿网 time in the history of public offerings.
In fact, behind the overall performance of the public fundraising all the way, there are still some poor students who have fallen off the list.
The statistics of the new economy e-line found that in all fund products (A / C breakdown, the same below), there were 47 funds with a negative return in one year in 2019.
Especially in QDII funds, Huabao Standard & Poor’s Oil & Gas with Zhou Jing as the fund manager has reached for three consecutive years and has always ranked bottom in the same ranking.
In 2019, the annual internal rate of return of Huabao S & P Oil and Gas RMB and Huabao S & P Oil and Gas USD were -10, respectively.
87% and -12.
39%, ranked second to last and first, respectively, and its net worth was only recorded as 0.
41 yuan and 0.
As of the end of 2019, the total returns of the two funds since their establishment were -59% and -51, respectively.
In other words, if the fund holder has been holding it to this day, he is still in a vortex.
In this issue of the “Public Offering 2019” series, the New Economy e-line will take stock of this.
The outsider’s new economy e-line behind the excitement noted that in 2019, in the context of no significant growth in the index, public fundraising had achieved historically rare returns during the year.
However, behind the industry buzz, due to poor performance, too many funds have been reduced to outsiders.
From the perspective of the highest net worth growth ranking, as of December 31, 2019, GF Shuangqing’s upgrade reached a net value of 121 during the year.
69%, topped the list.
Guangfa’s innovation and upgrading, also headed by Liu Gezhen, saw the growth of Guangfa’s multiple emerging markets reach 110 each year.
37% and 106.
58%, three funds were ranked first and second runner-up.
For the first time in the history of public offerings, there is a rare scene in which a fund manager captures the top three annual returns.
It is worth noting that analyzing Liu Gezhen’s investment portfolio in 2019 shows that the performance in the first half of the year is not too outstanding.
The key to finally determining its expected performance lead is the technology stock market in the second half of the year.
As of the end of September 2019, among the top ten heavy stocks in the Guangfa Shuangqing upgrade portfolio, there were 7 electronic stocks, 2 computer stocks and 1 biomedical stock.
During the same period, there were two funds with an average net worth of more than 100% in 2019, which were selected by Hua’an Media Internet and Yinhua Domestic Demand, with fund managers Hu Yibin and Liu Hui respectively.
In addition, there were 38 funds with returns between 80% and 100% during the year, and 331 funds with returns between 60% and 80%.
In fact, the performance of a single active partial equity fund, index fund and bond fund in convertible bonds is also remarkable.
Since 2019, almost all passive equity funds have achieved positive returns.
Among them, the China Merchants CSI Liquor Index Fund has an annual return of 86.
82%; Similarly, among bond funds, Southern Greek Yuan convertible bonds ranked 38th in net worth during the year.95%, ranking first in bond funds.
It can be said that the top ten heavy stocks of Greenbury’s third quarter report of 2019 are that the outstanding performance of the above funds fully reflects what is called “stock buying is not as good as buying a fund”.
However, the double jerk is that not all funds can do this.
For example, the Greenberry C, which belongs to the Green Fund, which has the worst annual performance in 2019, has an internal mutation of nearly 20% in Greenberry A, with a net value of -18.
74%, whose fund managers are Song Shaofeng and Zhang Xing.
Public information indicates that Green Fund is a wholly-owned subsidiary of Henan Anrong Real Estate Development Co., Ltd. Some of its executives are from Green Futures, which is the first public fund company with a futures background in Mainland China.
Among the two fund managers, Song Shaofeng has served as an analyst at the Great Wall Securities Research Institute and a director and a dedicated account investment manager at TEDA Manulife Fund.
He joined the Green Fund in 2017 and was a dedicated account investment manager.
Since December 2018, he has been the fund manager of Greenbury Fund; Zhang Xing has been the head of the China Economic Network Financial Research Center of the National Information Center.
From the beginning of 2013 to the end of 2015, he was the investment manager of Beijing Shurong Technology, mainly responsible for equity investment.
He joined Green Fund in 2016 as a fund manager.
Since February 2018, he has been the fund manager of Greenberg Yuan Fund.
In 2018, he served as Greenbury’s fund manager.
Interestingly, Greenbury C’s stock position in the first half of 2019 was 0.
By the third quarter, the fund began to buy stocks in science and technology board.
As of the end of the third quarter, the fund except the heavy storage of 19 national bonds 01, the top ten heavy storage stocks are all science and technology board stocks, including Huaxing Yuanchuang (688001).
SH), Han Chuan Intelligence (688022.
(SH) Waited for 10 science and technology board stocks, and stated in the third quarterly report that it will continue to focus on the allocation of science and technology board.
However, after entering the fourth quarter, the average value of its heavy-stocked science and technology board stocks changed significantly.
As of December 31, Platinum (688333.
SH) range fell by 30%, Hanchuan Intelligent, Aerospace Hongtu (688066).
SH), Guangfeng Technology (688007.
(SH) The range fell around 20%.
In addition, in the flexible allocation fund, the total return of Changsheng Strategic Emerging Industry C immediately following Greenbury’s in 2019 is -10.
36%, whose fund managers are Yang Heng and Meng Qi.
In the medium and long-term pure bond funds, Chuangjinhexin Zunying Pure Bond has a total return of -16 during the year.
78%, bottom in 2019.
Its fund manager is Zheng Zhenyuan; Soochow Dingli, whose fund manager is Chen Chen, gradually returns -8.
53%, the second lowest in the world ranking, second only to Chuangjinhexin Zunying pure debt.
According to the statistics of the New Economy e-line, it is found that although the public fundraising industry experienced a rare historical outbreak in 2019, there are still many funds that are still sad for fund holders.
As of December 31, 2019, among the comparable funds, there have been 26 funds that have gradually exceeded 40% since their establishment.
ICBC Credit Suisse Internet Plus’s net worth performance in the first three quarters of 2019 is reflected in these hindered loss funds. In terms of product classification, stock funds topped the list with ICBC Credit Suisse Internet Plus, and the current fund manager is Zhang Jisheng.
The fund has a total return of -60 since its establishment.
40%, its unit net worth is only close to zero.
According to public information, ICBC Credit Suisse Internet Canada began to raise funds on June 3, 2015. Two days later, the fund quickly raised 197.
3.3 billion yuan, closed early and announced its establishment.
However, soon after the fund opened a position, the market adjusted for elongation.
At that time, only three months after the fund was established, its net worth was severely cut. During the operation of ICBC Credit Suisse Internet Plus Fund for more than 4 years, it has experienced 5 fund managers, including Liu Tianren, Wang Shuojie, Shan Wen, Huang Anle, and Zhang Jisheng.
Among them, Zhang Jisheng was recruited on December 19, 2018, when he and Huang Anle jointly managed the fund.
On January 24, 2019, Huang Anle resigned, leaving Zhang Jisheng alone.
An official, Zhang Jisheng has been an analyst at AIA Securities, an analyst at Unified Securities, and a professional vice president; joined ICBC Credit Suisse in 2018, and is currently the head of the Seventh Center for Equity Investment Capability of the Equity Investment Department, fund manager, from December 19, 2018 to present.Acted as ICBC Credit Suisse Internet Plus Fund Manager.
Since May 6, 2019, he has been the manager of ICBC Credit Suisse Technology Innovation Fund.
During the same period, ICBC Credit Suisse Innovation Power, currently funded by Yang Xinxin, also lags far behind, with a total return of nearly 40%, -36.
The fund was established on December 11, 2014 and experienced four fund managers before and after.
Initially, Liu Tianren and Wang Shuojie were in charge of the management. Both left in 2017, and Li Zhizhao took over as fund manager from September 28, 2016 to March 1, 2019.
In addition, the New Economy e-line noted that, among the various types of fund products, QDII’s performance since its establishment as a whole has been poor.
Including two stock-fund funds-Huabao Standard & Poor’s Oil & Gas Funds with a decline of more than 50%, a total of 6 QDII funds have a conversion yield of more than 40%, and the remaining 4 include the Xincheng Global Commodity Theme and the Yinhua Anti-Inflation Theme, Cathay Pacific commodities, Bo Shi anti-inflation enhanced returns.
Taking Huabao Standard & Poor’s Oil & Gas as an example, stocks tracked by the fund’s underlying index as the S & P Oil & Gas Upstream Stock Index are mainly concentrated in the upper and middle reaches of oil production, and are relatively penetrated by the impact of oil prices.
2019 has been a turbulent year for the oil market. International oil prices have risen first and then declined. Under the influence of geopolitical tensions, there have been obvious shocks, but the overall trend is still oversupply.
In the first quarter, influenced by the resolute implementation of production reduction agreements by major oil-producing countries such as Saudi Arabia and Russia, international oil prices rebounded from their lows at the end of 2018 and showed a unilateral growth trend. London Brent crude oil futures prices reached 75 on April 25.
$ 6 / barrel high.
But after entering the second quarter, due to the intensification of international trade disputes, poor global economic data, weak oil demand and other factors, oil prices have been falling all the way.
Since then, due to the impact of geopolitical tensions, international oil prices have fluctuated significantly and will continue until the end of 2019.
However, despite the bottom of Huabao’s S & P oil and gas performance, the size of the two funds is still considerable.
Among them, the latest assets of Huabao Standard & Poor’s RMB and Huabao Standard & Poor’s USD are USD 4 billion and 5 respectively.
Similarly, CITIC Prudential Fund’s alternative investment QDII fund-Xincheng Global Commodity Theme, has a substitution rate of 57 since its establishment on December 20, 2011.
4%, asset size has shrunk to zero.
About 200 million.
Gu Fanding, his current fund manager, took over on April 18, 2019.
Liu Ruming and Li Shuhe, the two fund managers from Taiwan, have left in January and April 2019.
In addition, passive index funds have also become the hardest hit areas.
Wind statistics show that as of December 31, 2019, there have been 14 funds with a total income growth rate of more than 40% since their establishment.
Among them, the Southern China Securities 500 Industrial ETF which led the decline was -50.
Immediately following China Life Security CSI 500 ETF, China Life Security CSI 500 ETF, Bank of Communications CSI Environmental Governance, Guolian Ann Shanghai Commodity ETF’s total return is close to 45% or more.
From the date of establishment, a total of 9 funds were issued and established within the first half of 2015.
At that time, the stock market was in its heyday before the bubble burst.
In this regard, a representative said that when market sentiment is high, public offering institutions should remain calm and independent. Although fund issuance and fundraising are easier at this time, it is beneficial to fund companies to expand, but investors must also be fully considered in timingFor the sake of scale, we cannot blindly repeat the same mistakes for the sake of scale.