Funds must read: Shanghai Investment Bank Morgan Pension FOF Establishes Yinhua Reverse Investment Liquidation
Highlights of the fund: In the first half of the year, the self-purchased share of the fund company ‘s employees surged by nearly 50% each year. The fund added a total 北京夜网 of 22 pork stocks in the second quarter of the fund.
7% of the fund managers ‘performance of the science and technology board is eye-catching, and fund managers re-examine the valuation system.
Although the characteristics of the current game of the science and technology board are still relatively obvious, too many fund institutions have stated that during the operation of the science and technology board, they are reviewing its valuation system.
In addition to the traditional estimation methods, the market-to-sales ratio estimation method, the enterprise value multiple estimation method, and the market research ratio estimation method that comprehensively considers the fundamental factors of science and technology enterprises and the performance of the secondary market are all estimation methods of key practice of 杭州桑拿网 fund institutions.
Social security and pension funds entered the market faster, and long-term funds supported the stock market.
Recently, the supervisors have repeatedly led the medium and long-term funds to enter the market.
As the disclosure of the 2019 Interim Report came to an end, the scale and pace of long-term capital admission also appeared. At the end of the second quarter, long-term funds such as social security funds and pension funds entered the market faster.
With the steady start of the science and technology innovation board and the reform efforts of the ChiNext, the supporting system of A shares will also be improved in the future. The potential of long-term funds such as social security funds and pension funds is huge, which is the result of structural reforms on the supply side of the capital market.
In the first half of the year, the share of self-purchased shares of fund companies surged by nearly 50%.
According to the statistics of the fund’s semi-annual report, Tianxiang Investment Gu shows that fund companies’ employees have a total share of 63 public funds in mid-2019.
4.6 billion copies, an annual increase of 21.
0.8 billion copies, a surge of nearly 50%.
In terms of different types, the total size of equity funds purchased by fund company employees was 21.
7.4 billion copies, an increase of 7 per year.
7.5 billion copies, an increase of 55.
The fixed income funds (including money funds and bond funds) held by fund company employees increased to 41.
7.2 billion copies, an annual increase of 46.
Equity fund employees’ self-purchase is significantly higher than the growth rate of fixed income funds.
Fund company brokerage trading model funds: 322% turnover rate, higher than the industry average.
The average turnover rate of fund companies adopting the brokerage transaction settlement model is significantly higher than the industry average.
According to the statistics of Tianxiang Investment Consulting, in the first half of the year, the average turnover rate of 9 fund companies that practiced the brokerage trading model was as high as 3.
22 times, and the overall average number of public fund transfers is 1.
69 times, ranking about 90% higher.
Among them, Kaishi Fund has the highest turnover rate, reaching 10.
At 22 times, the turnover rate of Bodao Fund, Guorong Fund and Hezhi Zhiyuan Fund were 5 in the first half of the year.
02 times, 4.
28 times and 3.
Scale shrinks by 170 billion!
ICBC Credit Suisse from TOP3 to 11, the two ETFs have shrunk recently.
Recently, the ICBC Credit Suisse Fund is issuing 500 ETFs, but the company ‘s two two wide-based ETFs have recently declined in size. For example, the ICBC 300 ETF has been down 28% in the past half a month.
In addition, ICBC Credit Suisse ‘s public offering has shrunk by nearly 180 billion U.S. dollars in the past two years. The industry ranking has dropped from TOP3 to 11th place; its active products have suffered losses of up to 62% since its establishment, and passive funds have injected 24%.
Fund positions increased against the market, and the network security industry ushered in rapid growth opportunities!
The semi-annual report for 2019 shows that the majority of network security companies’ revenue growth rate in the first half of the year was faster than the same period last year, and the industry’s booming trend is obviously obvious.
The semi-annual report of the fund shows that in the second quarter of 2019, among the fund’s heavy positions, the computer sector’s position ratio was 4.
03%, a decrease of 0 from the previous month.83 samples, but the proportion of positions in the information security sector rose against the market, and network security concept stocks such as Baoxin Software have newly emerged as fund heavy stocks.
Southbound capital inflows, public offerings to expand the layout of Hong Kong stocks.
A number of ETFs tracking Hong Kong stock-related indexes also surged in August.
Take the Huaxia Hang Seng ETF as an example, the fund’s share increased by 37 in August.
At 98%, the size of a number of index funds such as the China-Shanghai-Hong Kong Stock Connect Hang Seng ETF increased in varying degrees.
Since April this year, Southbound funds have mainly flowed to the financial, computer, pharmaceutical and biological sectors, reducing the holdings of commercial trade, automotive, chemical and other industries.
From the perspective of institutional sources, the logic behind the continued bottoming of Southbound Funds is that Hong Kong stocks have fallen out of “price-performance ratio” and ushered in a good layout opportunity.
The fund added 22 pork stocks across the board in the second quarter.
In the second quarter of this year, the fund began to plunge into the definitive pork stocks. Among the 22 pig industry stocks, the fund welcomed an increase across the board.
According to statistics, at the end of June, the fund held the above pork stocks.
3.4 billion shares, compared with 10 at the end of the first quarter.
4.4 billion shares, holdings increased 56.
The Southern Fund is typical.
In the first quarter, it had no new hope for holding shares. However, in the second quarter of this year, at least 29 funds from the Division inflowed in a concentrated manner.
Personnel changes Penghua Fengrun Bonds hired Liu Taiyang as fund manager.
On September 4, Penghua Fengrun Bond Securities Investment Fund (LOF) announced that Liu Taiyang was hired as the new fund manager.
Penghua Fengrun Bond was established in December 2010.
As of the end of the second quarter of this year, the size of the fund was 4.6 billion, and the return since its establishment reached 67.
After taking office, Liu Taiyang will jointly manage the fund with two other fund managers, Zhu Song and Zhou Enyuan.
Qianhai Kaiyuan Ruiyuan is steadily increasing profits and hiring Tan Jianfeng as a fund manager.
On September 4, Qianhai Kaiyuan Ruiyuan’s stable and profitable hybrid securities investment fund issued a fund manager change announcement, saying that Tan Jianfeng was hired as the new fund manager to jointly manage Qianhai Kaiyuan’s stable and profitable hybrid with Liu Jing.
Fund products in the first eight months of public offering FOF earn a maximum of 32.
At 7%, the performance gap widened.
With the closing of the market in August, the fund of public interest (FOF), which has received much attention, has also turned in performance answers.
Data show that in the first eight months of this year, the average return of 14 publicly-funded FOFs (combined with different shares, excluding pension FOFs) totaled 7 in total.
78%, the best performing FOF gained 32.
However, behind the overall solid performance, FOF performance also showed a breakthrough differentiation.
Compared with the top three funds, the yields of the other 11 FOFs are significantly different, with the annual returns not exceeding 10%, and the last two FOFs not exceeding 4%.
The military ETF encountered a profit and the fund manager still insisted on optimism.
Recently, the defense industry sector has intervened unexpectedly, and several stocks have staged a rising tide, but the military-themed ETF has encountered large redemptions of funds.
Data show that as of September 2, the share of five military-themed ETFs in the past week has decreased by more than 8 billion.
The initial staff said that because of the shortcomings of military industry stocks and their continued strength, investors mostly chose to settle down.
However, catalyzed by many factors, September is still a good time to invest in the military sector.
The average return of QDII funds this year is 11.
In the first eight months of this year, A-share funds have achieved outstanding investment performance overall. Qualified internal institutional investor (QDII) funds that invest in US and Hong Kong stocks also have good returns over the same period, and their average returns have increased.
At 96%, most QDIIs received positive returns. The main target products are the global core assets and the Nasdaq 100 Index. Funds are pursuing technology-themed ETFs, and funds are optimistic about medium- and long-term performance.
The target of funding is targeting technology stocks.
Yesterday, technology ETFs, Shenzhen TMT, Semiconductor, Invesco TMT, Semiconductor 50 and other technology concept trading open index funds (ETFs) were sought after by funds, with a significant increase.
The reporter learned that many fund managers are optimistic about the technology stock market and are expected to become the next “wind vent”.
The private equity dynamic Ruize Investment responded to the reason why the fund junior abandoned the purchase, not because he voluntarily gave up, but because there was a problem with the bank account.
A-type investors have achieved 80% placement ratio. Private equity participation in the science and technology board has a new “shortcut”.
Science and technology board listed companies performed well on the first day, private equity hit new ones, and the more they got, the more money they made.
The high-yield people who play the new science and technology board are envious, but not all private equity has such strength.
Class A investors have a high ratio of sales. Many small and medium-sized private placements and private placements that meet the qualifications for new creations have used public offerings to participate in the science and technology board offline development. This is because private placements as Class C investorsShell participates in renewal. Due to the higher placement ratio, its renewal rate may be higher.
The list of private equity funds was announced: Gao Yi, Chongyang Botong, etc. were rated in the top 50.
The 2019 Anglo-Chinese Awards Top 50 Chinese Private Equity Funds and Best Private Equity Service Organizers organized by the China Fund News were announced today.
50 private equity fund companies with five strategies were awarded the top 50 private equity fund in China.
At the same time, 20 private equity companies were awarded the China Private Equity Growth Award, 3 private equity companies were awarded the Foreign Private Equity Rising Award, and 9 private equity companies were awarded the China Private Equity Popularity Award.
The reform of the New Third Board urgently requires a combination of punches, and the issuance of private equity convertible bonds will attract “living water” across the market.
The scope of private equity convertible bond issuers has been expanded from innovative startups to non-listed companies, and NEEQ companies have become beneficiaries.
Recently, the National Equity Reform Company, the Shanghai Stock Exchange and Shenzhen Stock Exchange, and China Clearing jointly formulated and issued the Implementation Measures for the Non-public Issuance of Convertible Corporate Bond Business, which strongly supports private companies in issuing privately-issued convertible bonds. According to the analysis, it is clear that the NEEQ listed companiesNon-public issuance of convertible bonds has opened up new financing channels for many companies.
Strengthening supervision is the general trend of the private equity industry.
A few days ago, the China Securities Investment Fund Industry Association announced its work plan for the second half of 2019, in which the wording on the status quo of the development of the private equity industry is severe.
Directly stated, “Overall, the quality of development is not high.
Coincidentally, the China Securities Regulatory Commission recently issued a notice calling for the centralization of nationwide special education activities for private equity funds with the theme of “Distinguishing Authenticity and Recognizing Risk as a Rational Private Equity Investor”.
It can be seen that some private equity funds have potential risks associated with similar financial businesses and illegal fundraising activities. Strengthening supervision and remediation of stocks is the general trend and will also become one of the priorities in the second half of the year.