This article expands on the foreshadowing of the previous two days’ article “ Away from Explosive Funds, Fund Managers with Excellent Performance in Five Years and They “, but it is aimed at fund managers with a total scale of over 10 billion. The filter conditions are as follows:
[A] There are three types of funds: partial stock mixed type, flexible allocation type (stocks account for more than 70%), and common stock type funds;
[B] The fund manager takes office before June 9, 2017 (inclusive), and the return rate between June 9, 2017 and June 10, 2022 is greater than 130%;
[C] The maximum retracement of the interval is less than -40%, the Sharpe ratio is greater than 0.8, and the Karma ratio is greater than 0.5;
[D] The fund manager is currently managing a total scale of over 10 billion.
There are 22 fund managers who meet the requirements , of which five are women. Most of the fund managers have a master’s degree, and only Li Dehui from Shanghai Investment Morgan Fund has a Ph.D. The 22 fund managers are sorted as follows in descending order of the size under management:
Data source: Oriental Fortune Choice data, data as of June 10, 2022
There are 27 funds that meet the requirements, of which five fund managers, Chen Hao, He Shuai, He Xiaojie, Zhao Bei and Zhou Xuejun, have 2 funds on the list. The range returns of these 27 funds over the past five years are ranked from high to low as follows:
Data source: Oriental Fortune Choice data, data as of June 10, 2022
The 27 funds show the range return, range annualized return, range maximum drawdown, range Sharpe ratio, range Karma ratio and other information in the past five years.
Data source: Oriental Fortune Choice data, data as of June 10, 2022
The 27 funds show the fund manager’s return, annualized return, fund manager years, number of funds and other information in the order of the above table as follows.
Data source: Oriental Fortune Choice data, data as of June 10, 2022
27 funds show their net worth per unit, Morningstar’s three-year and five-year rating, the current drawdown from relative highs, and fund managers’ shareholdings, sorted by institutional proportions: 5 fund managers hold their own funds exceeding 50%. million copies. This list shows the unit net worth of the fund. If the fund manager’s holdings have not changed so far, multiplying the unit net worth by the holdings is the fund manager’s holding amount. Taking Wang Jing as an example, the unit net worth is 2.5710, and the holding amount exceeds 2.5710. 1 million copies means holding more than 2.571 million yuan.
Data source: Oriental Fortune Choice data, data as of June 10, 2022
Everyone can discover their favorite fund managers from the data. Many people care that the fund manager’s management scale is too large, and worry that “scale is the enemy of performance”. In fact, we need to pay attention to the fund manager’s position style. If it is a large-cap fund, then the larger size may not matter. If the fund style is In the small and medium-cap style, then the fund manager’s management scale is too large, which will definitely affect the fund’s returns to some extent.
After the fund manager’s scale exceeds a certain strategic capacity, it is likely to passively reduce the turnover rate and become an asset allocation fund manager rather than an exchange-traded fund manager. Next, I will pick a fund manager with a management scale of less than 25 billion to briefly expand. Of course, you can also choose a fund manager with a management scale of 20 billion or even less than 15 billion.
1. Du Yang, the scale under management is 24.694 billion yuan. If the shares held so far remain unchanged, the fund manager holds the ICBC Strategic Transformation Stock A (000991) under his management in an amount ranging from RMB 1.915 million to RMB 3.83 million. The fund’s holdings are more value-oriented.
2. Zhou Xuejun, with a management scale of 22.122 billion yuan. However, the shares of the two funds on the list are not much, both 0-100,000 shares.
3. Yan Yao, with a management scale of 21.87 billion yuan. If the shares held so far remain unchanged, the amount of ICBC New Financial Stock A (001054) that the fund manager holds under his management is between 1,432,500 and 2,865,000 yuan. The fund’s holding style is on the larger side of growth.
4. Wang Jing, the scale under management is 21.682 billion yuan. If the share held so far remains unchanged, the fund manager holds the China Merchants Manufacturing Mixed A (001869) under his management with an amount exceeding 2.571 million yuan. The fund’s holding style is more of a large-cap growth type + a large-cap mixed type.
5. Yang Dong, the scale under management is 21.408 billion yuan. However, he does not hold many shares of the funds on the list, only 0-100,000 shares.
6. Fan Yan, with a management scale of 21.204 billion yuan. If the shares held so far remain unchanged, the amount of Yuanxin Yongfeng Youjia Life (001736) that the fund manager holds under his management is between 1.5207 million and 3.0414 million yuan. The fund’s holding style is on the larger side of growth.
7. Wang Jian, the scale under management is 17.965 billion yuan. If the share held so far remains unchanged, the fund manager holds the Sino-European pension industry mixed A (001955) under its management in the amount of 1.368 million yuan to 2.736 million yuan. The fund’s holding style is more of a large-cap mixed type + a large-cap growth type.
8. He Shuai, with a management scale of 17.528 billion yuan. However, he does not own any of the two funds on the list.
9. Tao Can, the scale under management is 15.458 billion yuan. If the shares held so far remain unchanged, the fund manager holds the CCB Reform Bonus Stock (000592) under his management in the amount of 528,300 yuan to 2,641,500 yuan. The fund’s holding style is on the larger side of growth.
10. Wang Junzheng has a management scale of 14.938 billion yuan. If the shares held so far remain unchanged, the fund manager holds ICBC Beautiful Town Stock A (001043) under his management in an amount ranging from RMB 258,600 to RMB 1,293,000. The fund’s holding style is both the growth of the market and the value of the market.
11. Hu Yibin, with a management scale of 14.536 billion yuan. However, he does not hold any funds on the list.
12. Li Dehui, with a management scale of 11.811 billion yuan. However, he does not hold many shares of the funds on the list, only 0-100,000 shares.
13. Zhang Xiaowei, with a management scale of 11.585 billion yuan. However, he does not hold any funds on the list.
14. Li Wei, the scale under management is 11.44 billion yuan. If the share held so far remains unchanged, the fund manager holds the GF Emerging Industry Mixed A (002124) under its management in excess of 2.959 million yuan. The fund’s holding style is more of a large-cap growth type and a mid-cap growth type.
15. He Xiaojie, the management scale is 11.341 billion yuan. He has 2 funds on the list, one of which holds over 1 million shares and the other holds 0 shares. If the shares held so far remain unchanged, the fund manager holds the ICBC New Trend Flexible Allocation Mixed A (001716) under its management in excess of RMB 3.304 million. The fund’s holding style is on the larger side of growth.
16. Li Yemiao, with a management scale of 11.186 billion yuan. However, he does not hold any funds on the list.
…………
Conclusion: Among the 16 fund managers with a management scale of less than 25 billion yuan, from the perspective of the amount held by the fund managers, the ones with larger holdings are (calculated based on the data held by the fund managers in the 2021 annual report):
He Xiaojie (over 3.304 million yuan) organization 25.73%
Li Wei (over 2.959 million yuan) institutions 15.37%
Wang Jing (over 2.571 million yuan) institutions 44.67%
Du Yang (between RMB 1.915 million and RMB 3.83 million) 33.26% of institutions
Yan Yao (between 1,432,500 and 2,865,000 yuan) institutions 64.31%
Fan Yan (between RMB 1.5207 million and RMB 3.0414 million) 59.01% of the organization
Wang Jian (between RMB 1.368 million and RMB 2.736 million) 83.45% of institutions
Tao Can (RMB 528,300~RMB 2,641,500) 27.44% of institutions
Wang Junzheng (258,600 yuan ~ 1,293,000 yuan) organization 86.07%
Although these fund managers have a management scale of over 10 billion yuan, they have not exceeded 25 billion yuan. They have performed well in the past five years (range performance is greater than 130%, drawdown is less than -40%, Sharpe ratio is greater than 0.8, and Karma ratio is greater than 0.5). Fund managers hold their own funds at the end of 2021, with interests tied to investors. If you like, you can choose from them.
Of course, I am not completely denying fund managers with a management scale of over 25 billion. If their fund style is a large-cap blue-chip style, then it can still be considered.
The amount of information is in the text. This article is only for personal investment thinking and staged sorting, and does not constitute investment advice.
Disclaimer: Yield data are for reference only, past performance and trend style are not indicative of future performance and do not constitute investment advice. Investors operate accordingly at their own risk. There are risks in the market, there are risks in fixed investment, and investment should be cautious. @Today’s topic @ Egg Roll Fund # Looking for you who loves the fund# #雪ball star plan public fundraising talent# @snowball creator center
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