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Equity funds bursting out in the beginning of the year and the performance and scale formed a virtuous circle

来源: 同花顺 January 9, 2020, 07:17 Source: Flush

In the beginning of the year, equity explosion funds appeared in the market intensively: the mixed sales launched by the Bank of Communications core driven by Yang Hao, and the single-day fundraising scale exceeded 50 billion yuan, well above the 6 billion yuan limit. ; The first fundraising for the growth of the quality of Invesco Great Wall, managed by Xu Yan as the fund manager of Dacheng Ruixiang, and managed by Liu Su, also reached 5.4 billion yuan and 6.7 billion yuan, respectively.

Explosive funds have appeared frequently recently and are inseparable from the underlying market.

Benefiting from the structural opportunities of consumer and technology stocks since 2019, equity funds have once again seen a double annual revenue landscape after three years.

In 2019, the five active equity funds yielded more than 100%. Among them, the promotion of GF Shuangqing managed by Liu Gezhen, and GF Multi-Emerging Fund won the performance of hybrid funds and partial equity funds with 121% and 106% respectively; GF Innovation and Upgrade, Huaan Media Internet, and Yinhua Domestic Demand Selection also achieved benefits. Double it.

In the stock market structure, public funds' active stock selection capabilities and comprehensive investment research advantages are prominent, and partial equity funds have outperformed the overall market over the same period. As of the end of 2019, excluding tiered funds and newly established funds of the year, the average return of partial stock hybrid funds with a minimum position of 60% in 2019 was 43.7%, and the average return of active stock funds with a minimum position of 80% was 45%. . The average returns of the two types of funds outperformed the Shanghai and Shenzhen 300 by nearly 10 percentage points.

In addition, in October last year, the regulatory authorities optimized the fund issuance and registration system, and the issuance of equity funds accelerated. The total size of newly issued equity funds in 2019 was 515.25 billion yuan, making it the second highest in the history of its issuance. With the combined effect of the rise in the net value of equity funds and the issuance of new funds, the total size of domestic equity funds in 2019 has reached 2.96 trillion yuan, which is close to the 3 trillion mark; the proportion of equity funds in public funds in the whole year has also risen to 20.84%, up 4 percentage points.

Behind the massive amount of funds chasing outstanding equity funds is the investor's favor for the relatively scarce market's excellent fund management capabilities, and also a spur to fund managers with poor investment experience. As investors continue to mature and become more rational, more fund managers with outstanding long-term performance will become "market stars", and more fund companies that allow investors to make long-term money are expected to be favored by funds. Those fund companies with mediocre long-term performance and poor investment and research risk control capabilities are being abandoned by the market, and the development pattern of the "stronger Hengqiang" in the public fund industry has become increasingly prominent.

For fund companies, long-term investment performance is the best marketing advertisement. Investors' active subscription to outstanding funds is a reward for their managers, which will help form a virtuous circle of company management scale and performance. This also urges more fund companies to continue to practice their internal skills, improve their investment research capabilities, raise their level of investment and consultation, strengthen their professional capabilities, and meet the needs of wealth management for the general public.

(Responsible editor: Compaq)


China Economic Network statement: Stock market information comes from cooperative media and institutions, is the author's personal opinion, is for investor reference only, and does not constitute investment advice. Investors do so at their own risk.
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Equity funds bursting out in the beginning of the year and the performance and scale formed a virtuous circle

来源:同花顺 2020-01-09 07 : 17Source : Flush
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