At the end of the year, the annual champion, runner-up and runner-up of active funds have become one of the focuses of the market. The ranking war in 2020 has entered the final sprint moment, especially in the recent market fluctuations, the ranking of active equity funds changes frequently, and the number of seats changes almost every week.

Last week, the net value of four funds managed by Zhao Yi, namely, Agricultural Bank of China Huili Industry 4.0, Agricultural Bank of China Huili New Energy Theme, Agricultural Bank of China Huili Research Selection and Agricultural Bank of China Huili Begonia, all rose by more than 10% in a week, which made the four funds managed by Zhao Yi gradually lag behind other products in ranking, forming a situation in which Agricultural Bank of China Huili stood out from the rest. The yields of the above four funds since 2020 are 163.33%, 16 1.96%, 152.42% and 135.89%, respectively, which temporarily occupy the top four in the performance list.

Agricultural Bank of China Huili Industry 4.0 set a new high in the annual performance of active equity funds in recent five years with a yield of 163.33%, which is less than 10 percentage point from the 20 15 annual performance champion Yifangda 1.7 1.78%.

HSBC Jintrust Low-carbon Pioneer, ICBC Credit Suisse Bank Small and Medium-sized Growth, Jinchang Hexie New Industry Cycle Selection A followed closely, and the yields since 2020 were 133.99%, 133.38% and 13 1.92% respectively. Guangfa High-end Manufacturing A, which once ranked first in annual yield, temporarily ranked eighth with a yield of 130.95%. The yields of these funds since 2020 have all exceeded 130%, with little difference. Seats may change in recent trading days.

In addition, if the C share is excluded, the top ten products of active equity funds include HSBC Jinxin Zhizao Pioneer A and Nord's value advantages, and the yields this year are 129. 13% and 127.83% respectively.

Small-scale funds perform better.

But investors should not only pay attention to which Public Offering of Fund won the championship, but also watch the doorways.

Wind data shows that the average size of the top 20 fund products (data of the third quarterly report) is only 1. 1.85 billion yuan, which obviously shows the characteristics of "little kids are in charge". In fact, the larger the scale of Public Offering of Fund, the more difficult it is for fund managers to operate, especially in the case of sudden changes in market style, but it is not easy for large-scale funds to switch positions.

In the eyes of the industry, in the case of rapid market style conversion, it is usually difficult for large-scale funds to quickly adjust positions and hedge in time. Small-scale funds may be more likely to seize opportunities and become "dark horses" in volatile markets.

The ultimate layout of industry and theme

Since 2020, most of the fund products with the highest returns have shown the characteristics of more extreme industry style. From the current point of view, most fund managers with top fund products have good income in a certain industry, which leads to the rising net value of funds.