Reporter | Mu Yue
There has always been a saying in the private equity industry that the "champion curse" means that most private equity firms that win the championship will experience a significant decline in performance in the following year or the following year.Now that the performance of various private placements in the first half of 2022 has been settled, are the private placements who won the eight strategic revenue champions last year doing well?
The latest data from Private Equity Pai Pai.com shows that the eight strategic private equity champion products in 2021 have very different income performances in the first half of this year, with a difference of 195.21% between the first and last performance.
Among them, "Diewei Deep Intelligent and Steady No. 3", which once won the 2021 composite strategy private equity champion with a yield rate of 331.25%, still performed well this year, with a yield rate of 111.59% in the first half of the year. It was also one of the eight strategic private equity champions last year. The product with the best earnings in the first half of the year.
Diewei Assets was established in April 2018 and is 100% controlled by Shanghai Diewei Intelligent Technology Co., Ltd. The current management scale is 0-500 million yuan. The company's fund manager Wei Mingsan has rich experience in quantitative statistical arbitrage actual trading, leading the development of A series of programmed trading systems have been developed, including inter-period arbitrage, trend statistical arbitrage, stock index futures spot arbitrage, and quantitative Alpha.
The 2021 bond strategy private equity champion product "Guli Xinghui No. 6" has successfully doubled its income last year, and its net value has soared again by 69.19% in the first half of this year.
However, according to the data of private placement Pai Pai.com, there are 9 products with updated net worth under Guli Wealth, which belongs to the above-mentioned products. The income in the first half of this year is quite different. Among them, the best-performing "Guli Wanli No. 1" has the income of the year. The rate is as high as 136.65%, and the worst performing "Guli Shenhang Yuntian" has lost 58.9% this year.
In addition, last year's stock strategy champion product "Ingenuity All-Weather Strategy" and relative value strategy champion product "Hongming Arbitrage Steady Management No. 2 Fund" continued to perform relatively well in the first half of this year, with yields of 43.95 % and 38.12%.
Table: Income of eight strategic private equity income champion products in 2021 in the first half of this year
Data source: Private Pai Pai Network
However, several companies are happy and some are sad. The 2021 macro strategy champion product "Wanchuan Yuchen No. 2" has fallen into the "champion curse" this year. The net value of the product in the first half of the year has retreated by 83.62%. , its latest cumulative net worth has also fallen to only 0.4371.Not only that, after Wanchuan Investment’s other still-running macro strategy product “Wanchuan Unmeasured Changfeng Phase 1” plunged 89.69% this year, its latest cumulative net value as of July 6 was only 0.2651.
"Zhuowei Vision No. 7", which once won the 2021 annual fund of funds list with a yield of 224.97%, has a yield of only -12.93% in the first half of this year.
In addition, last year's management futures strategy champion product "Hou De Smart Start" has yielded only 0.49% this year as of April 29, and then the net value will not be updated; last year's event-driven strategy champion product "Julong Dingzeng" No. 1" currently has no net worth to check.
It is worth noting that the current management scale of the private equity firms that belong to the eight major strategic private equity income champion products in 2021 does not exceed 1 billion yuan, and 7 of them currently have a management scale of only 0-500 million yuan. "Winning the championship" has very limited influence on the expansion of private equity firms' management scale.
(Editor in charge: Li Rong)
