Original title: reform shows initial success, and the performance of floating rate fund is outstanding
Shanghai Securities News reporter Zhao Mingchao
In the fourth quarter of last year, as an innovative product of fund rate reform, 20 floating rate funds were established successively. From the performance of the above funds, in the past six months, the overall performance of the funds was good in the volatile market, and the best performing fund yield exceeded 28%.
In July 2023, the reform of fund rate was launched, and since then many floating rate fund products have been approved. On October 27, 2023, the three-year fixed open-end fund of BOCOM Ruiyuan was officially established. As of December 5, 20 floating rate fund products had been established successively, with the total amount of initial offering exceeding 7.6 billion yuan.
From the performance of the above floating rate fund products since their inception, as of May 21, only four products failed to achieve positive returns, but the decline was also within 3%, and the overall performance was good. Among the fund products that have achieved positive returns, 10 products have a return rate of more than 6%, of which 5 products have a return rate of more than 10%.
Among the leading products in performance, as of May 21, the China Europe Era Win win Initiative A1, established on November 28, 2023, had a net worth increase of 28.04%; Launched on December 1, 2023, Rich Countries Core Advantage Initiative A saw its net worth rise by 24.2%; The value of Jingshun Great Wall, founded on October 31, 2023, was found to be A1, with a net value increase of 13.75%; The net value of BOCOM Ruiyuan three-year fixed open fund and Dacheng Zhixin three-year return fixed open fund also increased by more than 10%.
From the performance attribution of the leading fund, it is mainly due to the courage to attack when the market is undergoing drastic adjustment, and to take advantage of the opportunity of the market to build positions. For example, in the first quarter of this year, the China Europe Times Win win Fund significantly increased its stock position, mainly allocating growth industries such as communications, electronics, new energy, etc. According to the quarterly report of the fund, as of the end of the first quarter of this year, the equity investment of the fund accounted for 93.33% of the net value of the fund, seizing the opportunity brought by the market adjustment. From the perspective of the top ten heavy position stocks, including the targets benefiting from AI such as Zhongji Xuchuang, New Yisheng, Shanghai Electric Power Co., Ltd., Shennan Circuit, and the new energy targets such as Ningde Times and CITIC Bo.
As an innovative product after the reform of fund rate, the floating rate fund aims to better bind the interests of fund companies, fund managers and investors together. Judging from the operation of these floating rate products in the past six months or so, the effect of rate reform has initially appeared.
A fund researcher in Shanghai said that for fund companies, management fee income is undoubtedly one of the most important indicators. The widely criticized problem of "fund earners do not make money" is that fund managers start from their own interests and ignore the interests of investors for their own management fee income. After the introduction of floating rate fund products, the core principle is to make people make money so that fund managers can really make money, which effectively curbs the fund managers' impulse to scale.
