The Second New Fund Performance Checklist: The Gap Between The First And The Last Is More Than 80%, And The Hot Concepts Are Still "Difficult To Rescue" Fund Managers

The new fund issue climax frequently, the fund scale also repeatedly creates the high.

According to the latest data released by the fund industry association, by the end of July, the scale of public funds in China was 17.69 trillion yuan. This is the scale of public funds reached a record high of 17.78 trillion yuan at the end of April this year. After a slight correction at the end of May and June, the scale of public funds rose again in July.

This is also the second highest in history since the end of April this year.

It is worth mentioning that, from the data point of view, investors have high enthusiasm for new funds, and explosive funds are frequent, while from the performance of sub new funds, there are still many differences.

According to the performance of the second new funds (excluding the new funds less than three months old) established within one year as of August 27, the largest performance gap of active equity funds (including ordinary equity funds, partial equity hybrid funds, flexible allocation funds and balanced hybrid funds) exceeds 80%, including star base Gold company's product performance is mediocre; there are fund managers with popular concepts, but fund performance is still mediocre.

The gap between the first and the last is more than 80%

According to the data collected by the 21st century economic report, the average return of these new funds up to August 26 has been 28.1%, and only six funds (by share statistics, the same below) have still had negative returns as of August 26 this year, and the remaining 99% of the funds have made positive returns since this year.

If we simply calculate according to the average return, there are 213 funds that have lost the average returns this year, accounting for more than 50%.

Specifically, the active equity funds with negative returns since this year are jinxinminchang A / C, jiachengshunzhixuan A / C and Jiahe Yongtai preferred three-month A / C. all three funds were established in May this year, and their returns as of August 26 were - 5.33 / - 5.46%, - 0.9% / - 1.11%, - 0.65% / - 0.7%.

In contrast, the secondary new funds with the highest returns since this year are BOC innovation medical, Galaxy new kinetic energy and Cathay Xinrui. All three funds were established in November 2019, with returns of 76.55%, 72.75% and 68.27% respectively this year.

Compared with the top earning funds, the income gap of jinxinminchang is more than 80%, and that of Jiahe shunzhixuan and Jiahe Yongtai in three months is also more than 70%. Even compared with other active equity products established in May this year, the performance of the three funds is still far behind.

Wind data shows that the average return of 50 new active equity funds set up in May this year was 13.39% as of August 26. Among them, 18 months of rich country financing and financing reverse strategy C have the highest returns, which are 32.25% and 30.14% respectively.

In addition to Jinxin MINCHANG and Jiahe Yongtai, there are 18 fund losing average value, such as investment promotion Shengxin 3 months, Xingquan Shanghai, Hong Kong and Shenzhen holding for two years, leading position of Chinese businessmen, core competitiveness of Jinxin, value leading of Guangfa, strategy selection of Jiutai Kexin and Bank of communications Qiming.

Data show that Jin Xin Min Chang is a flexible allocation fund, and the fund manager is Zhou Mi. At present, Zhou Mi has 5 funds under management. Among them, the core competitiveness of Jinxin was also established in May this year. The return of the fund has been 6.57%, which is also lower than the average value of products in the same period.

On the whole, the income is lower than the average of similar products, and there is no lack of head star fund company products.

For example, Xingquan, Shanghai, Hong Kong and Shenzhen held the fund for two years. The fund was established on May 22 this year, with a return of 5.95% since the beginning of this year, and the return is in the bottom. The fund manager held by Xingquan in Shanghai, Hong Kong and Shenzhen for two years is Lin Cuiping, who previously worked in China Seas fund. According to Xingquan fund, this fund is the first product specially designed by the company after Lin Cuiping joined Xingquan fund last year.

In addition to the unsatisfactory performance, from the issuing situation at that time, Xingquan fund's "explosive money making machine" effect was not reflected in the two-year holdings of Xingquan, Shanghai, Hong Kong and Shenzhen.

The fund was cold at the time of issuance, and the final share was 2.87 billion shares, which did not reach the upper limit of 5 billion yuan and was lower than the market expectation.

Popular concept of fund manager "losing"

In addition to the "Waterloo" encountered by star companies, the 21st century economic report reporters have found that although many fund managers are attached to the hot concept, their performance is still mediocre.

Judging from the current data, the second new fund with the highest return so far this year is a medicine themed fund, BOC innovative medical, which has returned 76.55% since this year.

In fact, benefited from the big market of pharmaceutical stocks, the performance of pharmaceutical funds has ranked in the forefront of the whole market since this year.

According to the data as of the end of July, 17 of the top 20 funds in the market were all pharmaceutical theme products, accounting for 85%.

On the other hand, there are several sub new funds with pharmaceutical themes, such as Fuguo pharmaceutical growth 30, YONGYING medical health and Hua'an medical innovation, which failed to beat the average return of the second new fund, which seemed to be absent from the feast of pharmaceutical stock market.

According to the data, Fuguo medical growth 30 was established on April 9 this year, nearly five months after its establishment. The income of the fund as of August 26 was 13.07%; YONGYING medical health was established on May 20 this year, with revenue of 18.1% in the past three months; Hua'an medical innovation was also established in April this year, with revenue of 24.24% as of August 26.

If we say that BoC innovative medical was established earlier, but compared with several pharmaceutical theme funds also established this year, the performance difference between the two is still not small.

According to the data, the revenue of Guangfa medical and health care, which was established in March this year, has reached 66.36% in the past five months since its establishment on August 26; the income of RONGTONG medical and health care industry established in April this year has also reached 49.35% as of August 26.

The current fund manager of Wells Fargo medical growth 30 is sun Xiaoyue, who currently manages three funds. In addition to Wells Fargo growth 30, the other two are also pharmaceutical theme funds. Sun Xiaoyue was the fund manager of Fuguo medical growth 30 as early as April 9 this year, and his investment manager is less than one year old.

It is worth mentioning that at the beginning of the fundraising of Fuguo growth 30, Yu Yang, the former fund manager, was used as the "signboard". However, Yu Yang had already left the company when the fund was established less than two months ago. Yu Yang was once a star fund manager with outstanding performance of Wells Fargo fund. After his resignation, sun Xiaoyue took over the three pharmaceutical theme funds managed by Yu Yangzeng.

According to the second quarter report data of this year, Fuguo Pharmaceutical Co., Ltd. encountered a large share redemption after its establishment.

When the fund was newly established, the total share of the fund was 1.635 billion. At the end of the second quarter, the share of the fund had dropped to 1.312 billion, with the share shrinking by more than 300 million.

From the perspective of position, at the end of the second quarter, Wells Fargo's top 10 stocks including Mindray, Zhifei, Xinmai, Huahai, kailitai, mcbio, Aier Ophthalmology, etc. According to the second quarter report, the growth rate of net fund share during the reporting period was 11.07%, while the benchmark performance of the same period was 18.63%.