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重庆时时彩注册平台:95% partial stock fund losses in the past six months

时间:2018/7/17 18:39:42  作者:  来源:  浏览:0  评论:0
内容摘要: The current A-share market continued to fall, which also affected the performance of public funds. Not onlypartial stock fundslarge area lo...

The current A-share market continued to fall, which also affected the performance of public funds. Not only partial stock funds large area losses, new base the number of blondes also decreased significantly. In this case, the size of shares and mixed base continued to shrink, even less than 10 years ago.

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For a certain degree of "food by the sky" fund industry, how to deal with the situation of the market downturn, will adjust the position configuration? It is worth mentioning that even if the market is sluggish, there are many funds that invest in medicine, consumption and other industries to obtain better returns this year. In this case, will the fund company follow the defensive investment?

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On the above issues, the "Investor News" reporter interviewed a number of fund companies to seek answers.

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Large area loss

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As of July 12, CSI 300 index has fallen nearly 14% this year, Shanghai Composite Index even returned to 3000 points or less, can be described as "one night before returning to liberation." The reporter found statistics on the data, although 80% of the active management class stock funds outperformed the market in the past six months, but in the case of the downturn, the loss ratio is still as high as 93%.

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Among them, the stocks with obvious declines include the development of rich countries and towns, the environmental protection and low carbon of Jiashi, the environmental protection industry of Huitianfu, and the quantification of new materials of Yinhua New Energy. The above funds have lost 30%, 29% and 25% respectively in the past 6 months. twenty four%. It can be seen that the investment of real estate , the fund of environmental protection, new energy and new materials has become the hardest hit.

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Partial stock hybrid fund The situation is even worse, the data shows that in the past 6 months, 95% of the partial stock mixed fund losses. Even star funds with a revenue of over 40% last year, such as the stable allocation of BOCOM, Qianhai Kaiyuan Shanghai and Hong Kong Innovation, Invesco Great Wall core competitiveness, the theme of the Agricultural Bank of China, the loss in the past six months exceeded 15%.

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In the case of a partial stock fund almost completely annihilated, the fund company also slowed down the issuance of related products. Based on the subscription start date, there are only 24 new products in June, which is a significant drop from the average of 62 in the first five months of this year. After entering July, the situation has not improved. Apart from the strategic placement fund, only 11 new funds are issued .

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Not only the number of Xinfa Fund decreased, but the market has been sluggish, investors have chosen to vote with their feet, and the scale of existing equity funds has also been significantly reduced. According to the statistics of Tianxiang Investment, the total size of the 4,632 equity funds it observed at the end of the second quarter of this year was 1.9 trillion yuan, which was 141 billion yuan less than the end of the first quarter, shrinking by 7%; compared with the end of 2017, the volume was reduced by 279.5 billion yuan. The shrinkage is 13%.

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There is also publicly available data showing that, back to 10 years ago, at the end of 2007, the total size of the stock and hybrid funds was 2.97 trillion yuan; and as of the end of May 2018, the equity and hybrid funds had a total net asset value. Less than 2.5 trillion yuan.

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Still valued by the industry

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Why is the size of the stock base not growing significantly and not going backwards? It is reasonable to say that stock picking ability is the core competitiveness of a fund company. In terms of scale alone, the stock base is not even like the mainstream products of the public fund industry.

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In response, a general manager of a fund company in Beijing told the "Investor News" reporter: "The size of the partial stock fund can be said to be seven points by day, three points by itself. In 2007, the Shanghai Composite Index exceeded 6,000 points. But now, in the past 10 years, the Shanghai Composite Index has fallen by less than 3,000 points. In contrast, the Standard \u0026 Poor's 500 Index has fallen sharply in 2008, and has risen from 666 points to 2,798 points since 2009. The scale of domestic partial stock funds has also changed. It reflects the maturity of the domestic capital market and the gap between European and American countries."

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Despite the recent decline in A-shares, fund companies have expressed optimism about their subsequent developments and the development of equity funds.

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In the view of the fund company, the decline in the A-share market is gradually digesting risks. It is expected that the subsequent market will gradually become accustomed to these uncertainties, and the core contradictions of the market are expected to return to the fundamentals. A-share turnaround still needs to wait for major macro variables to change. A-shares will enter the release period of the China Daily, and the growth rate of the mid-year report will be good, and the industry boom is expected to usher in the layout opportunities.

In the case that the stock base is generally hit hard, it has to be acknowledged that some equity funds with positive performance are also obtained by means of light stock allocation, while others rely on overweight products to avoid market. Shock. According to statistics, by June, the release of debt base began to pick up. Among the 24 newly established funds in June, there were 21 7-89456_73_65473_9 bond funds , with a total share of 27.290 billion, accounting for 94.54% of the total fundraising scale of the month, reaching a new high in the past 10 years.

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For whether it will turn to bond fund in the near future, the relevant person of a fund company in Beijing mentioned to the reporter that the investment management ability of equity products is the most important core competitive advantage of the fund company, and the future equity products are facing good development opportunities. Historical data shows that in the long run, equity assets are the asset class with the highest return on investment. If investors pursue long-term asset allocation, they should increase the proportion of equity products, because if the portfolio wants to obtain excess returns, it must rely on equity products to increase the level of income.

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Although partial stock funds generally suffer losses, there are also some products that have recently received excessive returns. For example, Zhonghai Healthcare, Shangtou Morgan Medical Health, and China Merchants Medicine Health Industry have achieved yields of 18%, 17%, and 13% in the past six months. In this regard, a number of public fund sources said that in the case of a weak environment, defensive investment is still the main tone in the short term, and it is a good strategy to deploy defensive sectors such as medicine and consumption.


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