Zhangji Wealth——Focus on fund research and share investment dry goods!
As a qualified Christian, if you lose money, you should pay attention to the fund’s quarterly report with tears in your eyes. You must not lie down. You must always understand what the fund manager is doing with your real money~
The fund’s first quarterly report has been disclosed. You can pay close attention to the changes in your fund’s position and shareholding to see if your fund’s investment strategy has undergone major adjustments.
The opinions and positions of some star fund managers have been written a lot by many media recently. Old K will not go to join in the fun. Today, I specifically counted the latest fund scale, fund manager management scale, and the net application and redemption of funds in the first quarter. Share with everyone.
1. The largest fund
Among the active stock-oriented funds , the China-Europe Medical and Health Hybrid managed by Ge Lan ranked first with a scale of 68.37 billion. This fund fell a lot in the first quarter, but Jimin continued to cover its positions, and it was a net subscription in the first quarter.
The E Fund blue-chip selection managed by Zhang Kun ranked second with a scale of 55.272 billion, and the emerging growth scale of Invesco Great Wall managed by Liu Yanchun was 39.303 billion, ranking third. However, these two funds experienced net redemptions in the first quarter.
Fuguo Tianhui Growth managed by Zhu Shaoxing, Ruiyuan Growth Value managed by Fu Pengbo, Xingquan Herun managed by Xie Zhiyu, and Lion Growth managed by Cai Songsong also ranked high. Christian is forced to cover positions.
ABC New Energy and Xingquan Trend, where Zhao Yi and Dong Chengfei resigned, have seen net redemptions of stars, and star fund managers still have a relatively large influence on the departure and retention of Jimin.
Data source: Choice, as of the end of the first quarter, the scale is the consolidated scale, the same as below unless otherwise specified
Among index funds , the China Merchants Liquor Index managed by Hou Hao ranks first with a scale of 68.884 billion. Many of the others are broad-based indices related to the SSE 50, CSI 300, and CSI 500.
Judging from the application and redemption situation, China Merchants China Securities Liquor Index Fund still had a large net purchase in the first quarter. Securities companies, Kechuang 50, GEM, semiconductor, pharmaceutical, photovoltaic-related ETFs are also sought after by bottom-hunting funds.
Industry funds fluctuate greatly. Old K thinks that whether you are a fixed investment or an ordinary investment, if your risk tolerance is not high, it is better to give priority to the broad-based index, and the experience of holding the fund will be much better. In the future, many Christian Democrats went to buy industry-themed funds, and then chased the ups and downs. The experience is very poor, which requires all parties to work hard to avoid this product mismatch problem.
Among the QDII funds , the funds related to China Concept Internet and Internet technology are at the top of the scale. Christian Democrats are really buying these indexes, which are technology leaders.
2. Active equity fund managers with the largest funds under management
Now everyone should know that the large scale of the fund will affect the excess returns of the fund. It is not a good thing for the fund manager to manage a large scale. There are many problems such as insufficient coverage of the fund manager’s competence circle, inability to keep up with investment research, and insufficient flexibility in changing positions and shares. shortcoming.
However, most of these fund managers have good historical performance. It is one thing to buy or not to pay attention. After all, they are the backbone of the market.
In the case of falling net worth, the management scale of most fund managers has declined to a certain extent. There are no more fund managers at the 100 billion level. Both Ge Lan and Zhang Kun have fallen out of the 100 billion club.
I won’t go into the specifics, including last year’s champion fund manager Cui Chenlong, public funded evergreen Zhu Shaoxing, and balance king Xie Zhiyu, etc. Many people here have been scolded miserably this year, and the historical performance of their masterpieces is actually quite good. ,
Data source: Choice, as of 2022.04.22
3. Analysis of fund application and redemption in the first quarter
Well-known funds with more net subscriptions in the first quarter include Lion Growth, which is mostly due to passively covering short positions.
Another fund with more net subscriptions is Zhonggeng Value Pilot managed by Qiu Dongrong, and Wanjia Industry Choice managed by Huang Xingliang.
Why these funds were subscribed by Christian Democrats in large numbers, you can do your own homework and see if you can find the reason behind it. Old K will not go into details.
As for the funds with more net redemptions in the first quarter, the most is China Universal Absolute Return Fund, which is a 6-month fixed-opening fund. There is an open period in January. understand.
We can find that many of the funds in this list are fixed-opening funds, and many are managed by star fund managers, such as Shi Bo, Luo Shuai, Wang Zonghe, etc. After the opening, Christian Democrats redeemed a large number of funds, indicating that Christian Democrats are in the closed period. The experience is relatively poor, which also requires fund managers to reflect.
4. Funds that institutions love to buy
Finally, there is a 2021 fund annual report that discloses active equity funds with institutional holdings in the top 50% to 80%.
We found that most of these funds are less than 10 billion in size, and they are old funds with relatively good historical performance. You can also take a look at this.
Funds and fund managers selected by institutions are basically not top-notch, which is also a relatively important reference direction.
Data source: Choice, as of 2021.12.31
I won’t say more about other old Ks. Everyone still needs to read and understand more about the trends of the fund market and some important information about their own fund positions. Only by knowing ourselves and the enemy can we defeat this market.
Disclaimer: The remarks posted on this account only represent personal opinions and cannot be used as a basis for buying and selling. There are risks in the market, and investment should be cautious. The past performance of funds and fund portfolios cannot predict their future performance. Fund research, analysis and fund portfolio services do not constitute investment consulting or advisory services. Please read relevant legal documents and risk disclosure books, and make rational investments based on your own risk tolerance. #The first quarterly report of the fund will be released one after another, what are the highlights# $ China Europe Healthcare Mix A (F003095)$ $ E Fund Blue Chip Select Mix (F005827)$ $ China Merchants China Securities Liquor Index (F161725)$
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