Reporter Wang Ning
With the end of the market in May, the list of the performance of more than 9,700 public funds in the first five months has been released.According to Wind data, in the first five-month performance of more than 9,700 public funds (the same below), more than 30% have achieved positive returns, and the top three have more than 60% returns. Correspondingly, In the negative yield ranking, there are as many as 100 products with a yield lower than -30% in the same period, and the products at the bottom of the ranking are even lower than -40%.
A number of public fundraisers told the "Securities Daily" reporter that since the beginning of this year, A-shares have fluctuated within a large range, and the market has failed to see a structural market. Except for the sectors with high performance boom, the overall opportunities are difficult to capture. Commodities are trending, and commodity funds are among the top ten in terms of yield.Regarding the market in June and the second half of the year, based on optimistic expectations on economic fundamentals, investment opportunities will be significantly better than those in the first half of the year, and we are optimistic about new energy, semiconductor and military sectors.
Commodity funds dominate the screen
Top ten on the list
Since the beginning of this year, the A-share market has fluctuated greatly, and the performance of public funds in the first five months has shown great differentiation characteristics.According to Wind data, more than 9,700 public funds had different trends in the first five months, with more than 30% achieving positive returns; more than 30% of the declines remained between 0 and -15%; the rest of the yields were all lower than -15%.
Specifically, in the positive income list, there are 3080 products among them, accounting for 31.75%.Among them, the yields of the top three products in the same period all exceeded 61%; the yields of the top 10 products were all above 40%; there were only 25 public funds with a yield of more than 20%; the yields of 2,965 products remained at 0-5 %between.
From the perspective of product classification, among the top 25 products, commodity funds occupy an absolute proportion. Among them, the top 10 products on the list are all commodity funds, such as Huabao S&P Oil & Gas A, GF Dow Jones American Petroleum A, Harvest Crude oil, etc., all occupy the top positions of the list.
A person from Founder Fubon Fund told reporters that since the beginning of this year, international commodity prices have ushered in a round of sharp rises due to inflation in the United States, and commodity funds have obtained better returns.Although the Fed's interest rate hike boots landed in May, and the superimposed US economic data shows a certain marginal slowdown, the market view is that the time for inflationary pressure has passed, but the rate of decline may not be optimistic.
On the one hand, more than 30% of public funds have achieved positive returns, but most of them are not high; below -30%.
The data shows that in the first 5 months, 102 public funds have yields below -30%, and the bottom-ranked products have yields below -40%.In terms of classification, these product categories cover sectors such as biomedicine, consumer goods and technology.
Overall, in the negative yield list, there are more than 3,000 products with a yield between -15% and 0, and more than 3,000 products with a yield below -15%.
Hybrid product
outperform stocks
Wind data shows that from the perspective of public fund classification, the yield of hybrid funds in the first five months is significantly higher than that of stock products. For example, among more than 6,700 hybrid products, the highest yield exceeds 40%, and the yield exceeds 5%. There are 71 products; among nearly 2,800 stock funds, the highest yield is 28%, and there are only 60 products with a yield of more than 5%.
Zhang Xun, research director of TEDA Manulife Fund, told the "Securities Daily" reporter that industries with high performance during the year or continued difficulties and reversals have gained greater flexibility.For example, the mid-upstream and mid-stream materials of the new energy vehicle industry chain performed better. Among them, the performance growth rate of leading companies in related sectors in the first quarter was more than 80%, but some sectors have not yet broken away from the weak market, and the leading stocks in related sectors performed in general.This is the main reason for the divergence in the performance of different types of public funds.
Regarding the judgment in June and the second half of the year, Zhang Xun said that from a medium and long-term perspective, the new energy vehicle industry is one of the industries with high growth certainty in the future.From the perspective of the industrial chain, it is expected that a number of world-leading companies will emerge in the industrial chain of the vehicle end, lithium battery materials and auto parts.Second, in the era of fuel vehicles, the huge gap in power systems no longer exists in new energy vehicles. The domestic power battery industry chain has achieved catching up with Japanese and Korean battery companies, and with the R&D advantages brought by the engineer bonus, the whole industry chain The cost advantage leads the world.Third, in the era of new energy vehicles, the shortening of the iteration cycle of models and the reshaping of the entire supply chain by new car-making forces, the OEMs have higher and higher requirements for the response speed of auto parts companies.
A relevant person from Founder Fubon Fund told reporters that in the short term, the valuation of growth sectors dominated by new energy, semiconductor and military industries will return to a relatively high level.In the second half of the year, the scene of resident service consumption will gradually recover, and the measures to stabilize growth will also usher in the best window period. The valuation of stable growth and some consumer travel sectors will also be relatively more reasonable.
It is worth mentioning that since the beginning of this year, the equity market has experienced ups and downs, and many funds have retreated greatly in net value. The "fixed income +", which is known as a stable product, has also seen many "fixed income-" situations.Wind data shows that there were 571 "fixed income +" newly established funds in the first five months, a year-on-year decrease of 11.6% compared with the 646 issued last year, and a year-on-year decrease of 66.8% in share.During the same period, the average yield of 2,085 "fixed income +" funds in the whole market was -2.83%, of which 1,701 yielded negative returns, accounting for more than 80%.
(Editor in charge: Guan Jing)
