Red Star Capital Bureau reported on May 21 that recently, the A-share market continued to rebound, and the earning effect of active equity funds improved.
According to the statistics of Red Star Capital Bureau, as of May 20, nearly 60% of the active equity funds in the whole market had achieved positive returns within the year, of which more than 1000 funds have gone out of the V-shaped reversal after falling for two consecutive years, and the performance of products managed by several well-known fund managers has reached new highs in recent two years.
However, under the favorable market of A-share, Wanjia Fund Huang Xingliang, Cinda Australia Asia Fund Qi Xingfang, and China Merchants Fund Gao Bing still suffered from substantial losses in some products. In addition, with the continued adjustment of the market of Beijing Stock Exchange, the selected two-year fixed opening A of China Securities Construction Investment Beijing Stock Exchange has dropped the increase of last year; At the end of last year, Zhou Boyang, who was once asked by Jimin to "suspend the subscription", launched Jinyuan Shun'an Industrial Zhenxuan, which has failed to achieve a turnaround in performance.
Net value of some products of Bao Wuwu and Jiang Cheng
It has reached a new high in recent years
In the past two years, the A-share market has experienced great fluctuations, and the investment ability of fund managers has often been questioned by funders. Since February this year, the A-share market has recovered, and the net value of many index funds has gradually recovered. More than 1000 active equity funds have also gone out of the V-shaped reversal after falling for two consecutive years, and their performance has turned red this year.
Wind data shows that during the period from February 5 to May 20 this year, the Shanghai Stock Exchange Index rose 16.15%, the Shenzhen Stock Exchange Index rose 21.04%, and the GEM Index, Science and Technology Innovation 50 and other indexes also performed well. As of May 20, among the 4310 active equity funds (only A shares are counted, the same below) whose returns are announced in the whole market, 2498 have positive returns within the year, accounting for 58.0%.
Among them, the performance of funds in sectors such as heavy position nonferrous metals, coal, petroleum and petrochemical is particularly outstanding. Jingshun Great Wall Cycle Optimization A, managed by Zou Lihu, topped the list with an annual yield of 36.44%, and the pillar industry of Jingshun Great Wall, also managed by Zou Lihu, also achieved an annual yield of 32.47%. Among the top performers are Bosera Growth Selection A, Wanjia Double Engine A, Western Profits Strategy Selection A, Southern Development Opportunity One Year Holding A, Harvest Resources Selection A, Eastern Cycle Selection, etc. A total of 135 funds have annual returns of more than 20%.
Among the funds with positive returns during the year, there are many funds that have lost money in the past few years. Taking Bosera Growth Selection A as an example, the return rate of the fund in 2022 and 2023 will be -30.52% and -9.46% respectively, ranking 2303/2606 and 984/3479 in the same category. Since 2024, the return rate of the fund has turned red in this round of market, and the year to date return rate is 34.60% 。
Red Star Capital Bureau noticed that under the dividend strategy of "one branch stands out", the net value of some products managed by famous fund managers, such as Jingshun Great Wall Bao Wuwu, Zhongtai Asset Management Jiang Cheng, China Europe Fund Lan Xiaokang, Manulife Fund Zhuang Tengfei, has reached a new high in nearly two years. Among them, Bao Wuwu, who is praised as "positive profit every year" by Jimin, has more than 20% of the annual profit of several products such as Jingshun Great Wall State owned Enterprise Value A, and the performance of Jingshun Great Wall Shanghai Hong Kong Shenzhen Selection A has reached a new high since its establishment in 2015.
As several sectors continue to be active, many 10 billion star fund managers have "recovered their lost ground" and started to make money. As of May 20, Zhang Kun managed E Fund blue chip selection and E Fund high-quality enterprises, with annual returns of nearly 10%. In the first quarter, Zhang Kun still held several liquor stocks, and bought Shanxi Fenjiu (600809. SH) while reducing his holdings in CNOOC (0883. HK).
Hu Xinwei, who also focuses on the consumer industry, managed Huitianfu's consumption upgrade and Huitianfu's consumption selection, with annual returns exceeding 12%. In the first quarter, he bought Jinshiyuan (603369. SH) and Gujing Gongjiu (000596. SZ) respectively. The new trend of China and Europe managed by Zhou Weiwen and the annual earnings of China and Europe Selected also exceeded 10%. In the first quarter, they increased their holdings of chemical leader Wanhua Chemical (600309. SH).
Heavy positions in TMT and Beijing Stock Exchange funds still suffer a lot of losses
Five products of China Merchants Fund Gaobing were listed
However, despite the recovery of the A-share market, there are still many funds that have suffered more losses. Red Star Capital Bureau noted that most of these fund products are heavily invested in TMT, Beijing Stock Exchange, semiconductor and other sectors. After the rapid rise in the first ten days of February, there has been some recent adjustment, and the funds in the related sectors of heavy positions have also suffered a significant withdrawal.
According to wind statistics, as of May 20, a total of 50 active equity funds had lost more than 20% in the year. Among them, Tongtai Kaitai A ranked the bottom with an annual yield of - 31.18%, and its top ten heavy positions in the first quarter report were all individual stocks of Beijing Stock Exchange; Among those who lost more than 30% in the year, Jinyuan Shun'an Industrial Zhenxuan A; There are also Furong Value Selection A, China Securities Construction Investment North Exchange Selection A, Wanjia Science and Technology Innovation A, CCB Electronics Industry A, Chinese Merchants Smart Life A and other funds with the highest loss margin.
In the last 20 lists of performance, Huang Xingliang of Wanjia Fund and Qi Xingfang of Cinda Australia Asia Fund each have two funds on the list, and Gao Bing of China Merchants Fund has five funds on the list. Red Star Capital Bureau found that the listed fund stocks of these fund managers are highly duplicated.
Among the above products, Jin Yuanshun An Industry Zhenxuan A is particularly attractive. The reason is that the fund was established in December of last year, and it is still less than half a year ago. It is jointly managed by Min Hang, assistant general manager and investment director of Jin Yuan Shunan Fund, and Zhou Boyang, fund manager. Previously, Jin Yuanshunan High Quality Selection, which Zhou Boyang took charge of, was once evaluated by the industry as the "divine base" - the "flat replacement" product of Jin Yuanshunan Yuanqi. After Yuanqi's "closed door greeting", the scale of High Quality Selection will grow by nearly 3.8 billion yuan in 2023, and was once called upon by the base to "suspend subscription". Zhou Boyang also became a 10 billion fund manager by the end of 2023.
In addition, the selected two-year fixed opening A of China Securities Construction Investment North Exchange has dropped the increase of last year. In 2023, the individual shares of Beijing Stock Exchange will go out of the independent market, and the earning effect will increase greatly. The product will also achieve 25.10% of the annual income, ranking among the top 20 active equity funds.
Red Star Journalist Jiang Ziwen
Edit Yang Cheng
