Eighty percent of equity funds outperformed the broader market
Nearly 100 funds have doubled their returns in seven years
◎Reporter Zhao Mingchao
Despite the poor performance of the broader market in the past 7 years, the performance of publicly offered partial equity funds has performed well. According to statistics from the Shanghai Securities News, nearly 80% of the funds have achieved positive returns, of which nearly 100 have yielded more than 100%.
If the performance is attributed, it can be found that among the funds with leading performance, it is mainly due to a deep understanding of the investment value. Opportunity.
Although the index performance has been poor since 2015, the overall performance of the public offering funds is significantly stronger than the market. According to Choice statistics, among the 1,065 equity-oriented funds established before June 15, 2015, as of June 6, a total of 796 funds have achieved positive returns in the range, of which 94 funds have more than doubled their returns. At the median, equity-biased funds have returned an average of about 35% over the past seven years. Since the high point of the bull market in 2015, the Shanghai index has fallen by about 37%.
Among the funds with leading performance, Anxin Advantage Growth Hybrid A Fund has a total return of 238.84%, China Merchants Anrun Flexible Allocation Fund is 237.3%, and E Fund New Income Fund is 235.3%. Funds such as Penghua Brand Inheritance, Golden Eagle Nation Emergence, Bank of Communications Trends, and Shenwan Lingxin New Energy Vehicles have also returned more than 200%.
However, there were also 128 funds whose net value fell by more than 20%, and 12 funds fell by more than 50%. Among them, funds such as TEDA Manulife Quality Life, Jinyuan Shun'an Value Growth, and ICBC Innovation Power all fell by more than 57%.
Funds that outperform the broader market have two main advantages: one is the relatively good timing ability of the fund manager, and the other is the layout of the track stocks. Most of the successful fund managers significantly reduced their positions or even shorted them at the market highs in 2015, and then resolutely entered the market when opportunities came. And the successful grasp of social development trends has made a lot of money for fund managers who hold heavy positions in consumption, medicine, and new energy tracks.
Take Anxin Advantage Growth Fund, the performance champion of the past seven years as an example. The fund was established on May 20, 2015, but from its establishment to the end of 2016, there was almost no equity position, during which the Shanghai Composite Index fell from more than 5,000 points to about 3,100 points. , the fund escaped many rounds of market decline, the net value not only did not fall, but rose about 7%. Since the end of 2018, with the improvement of the market, the fund has begun to lay out heavy positions, keeping up with the market's rise in the rising market of core assets. The fund manager, Nie Shilin, attaches great importance to the margin of safety. Since managing the fund in early 2016, it has only lost money in 2018, and has made profits in the rest of the year. Against the background of the weak market this year, it has still achieved positive returns.
China Merchants Anrun, the runner-up in performance in the past seven years, has flexibly allocated funds, and also responded with a wet warehouse in the falling market. From the trend of the net value of the fund, it can be seen that in the second half of 2015, the maximum drawdown of the fund was only about 17%; from the beginning of 2016 to June 2019, the fund's equity allocation was almost in a short position; Since June 2019, the fund has invested heavily in core assets and new energy and other tracks, and has achieved substantial returns.
