Unexpectedly, 12 years from the experience of the fund manager old driver also made the mistake of individual investors, could not help chasing high, became one of the most miserable funds since the year of the ox.
The new fund was founded less than a month ago and lost nearly 18% in 12 trading days
Just two days to build a position?
The thing is like this, a fund called Hui An balanced advantage hybrid, just established shortly before the Spring Festival, it is estimated that it is more uncomfortable than a loss, so quickly built a position in the group stocks, did not expect that after the Spring Festival back, the market came to a 180° big change, the group stocks suffered a heavy hit, only 9 trading days lost nearly 15%!
What is it exactly? Let’s take a look at the net value performance, the fund began to take effect on February 9th, the net value increased by 1.34% on the 10th, and then on the Spring Festival. After the Spring Festival came back, the net value was announced on the 19th and 26th respectively, and immediately retreated to 0.8588. You know, after the festival to the 26th, a total of only 6 trading days, it fell 15%!
On the evening of the 4th, the latest net worth has been as low as 0.8244, that is, a 12-day loss of nearly 18%!
According to public information, Huian Equilibrium Preferred Hybrid began to sell on February 1, and announced the early end of the offering on February 3.
With the help of China Merchants Bank’s powerful channels, the final raised scale of 820 million yuan, 12,638 investors subscribed. The results are still pretty good.
Why less than a month after it was founded, it has fallen by nearly 18%. The personage inside course of study analyses, the two days before the Spring Festival likely, namely February 9, 10 days, new fund builds storehouse to be finished, the position is still heavier, the likelihood that buys is to hold a group to share, after otherwise the festival has so big drop impossibly.
Why build a position so quickly? Such fierce gimme is quite rare, understand according to fund king, new fund won’t build storehouse too quickly commonly, want to build certain safety pad first, fund manager just can add storehouse step by step, and on the other hand, investment mark early days go up strongly, enter the market to mean to receive dish possibly, do not enter the market to have the risk that step empty.
Wu Yuefeng, fund manager of Fengjing Capital, shared a view on Weibo today: fund managers have been under pressure from the fund companies. You have substantially underperformed the index and peers. How can you give your clients a channel and explain to the users who are still dating on Alipay with an average holding period of only 40 days?
One fund manager, a face of depressed to find I chat, said leaders encourage them and sell these 10 several times the valuation of the industry, including games, many low valuations plate, chasing other hot spots, and education they repeatedly, the head company enjoy endless premium valuation, and the continuous rising is a logical foundation, persuaded them to downplay valuation concepts, attaches great importance to the logic of runway, learn to use DCF model to forecasting the market value of 2025.
What kind of person is Zou Wei, the fund manager?
According to the public information, the fund manager of SAFE Balance Preferred Hybrid is Zou Wei, currently the chief investment officer and managing director of SAFE Fund. He is a veteran with 20 years of experience in securities and fund industry. Before that, Zou worked at Great Wall Securities and joined Harvest Fund Research in June 2003, where she served as a fund manager, head of the thematic strategy group and managing director. In December 2017, it joined the Exchange Fund.
Zou Wei currently manages three funds, which are “Huian Yuyang Ding Kai Mixed, Huian Industry Leading Mixed, Huian Hongyang three-year holding period Mixed”, with a total scale of only 1.28 billion yuan.
In addition, fund managers who have been with the company for more than 10 years and have annualized returns of more than 10%. As of January 4 this year, in about 2000 public fund managers, only 42 fund managers meet, Zou Wei is one of them!
According to the fund company’s promotional materials, Zou is a restrained fund manager who not only has a clear understanding of the boundaries of his capabilities, but also understands that “size” has a huge impact on “performance.” In order to maximize the fund income, in order to let investors get real investment returns, he would rather give up the scale of the fund, give up high management income.
According to the fund company, Zou Wei’s representative work, “Huian Industry Leading Mixture”, is only worth 112 million yuan. On the contrary, it requires each user to have a daily limit of 1,000 yuan, which is only now relaxed to 100,000 yuan, showing restraint.
According to the report of the four seasons in 2020, since its establishment on August 28, 2019, as of December 31, 2020, the cumulative income of Hui An industry leader is 68.15%!