Few investors will read the fund's periodic reports carefully, and even many investors don't know where to consult the fund's periodic reports.
In fact, the fund quarterly report is still very important for fund investors, and it is an important document for us to judge whether the fund in our hands is worth continuing to hold.
The fund quarterly report is an important document for us to understand the operation of a fund, and we can also see the fund manager's summary of the previous quarter and the outlook for the next quarter or even longer. Therefore, it is best to carefully look at the quarterly report of the fund you bought.
Where can I check the quarterly report of the fund?
Generally speaking, you can check the periodic reports of funds on the platform of buying funds. Find the "Fund Announcement" on the fund details page, and open it to find the quarterly report. You can also check it on third-party platforms such as Alipay and Tian Tian Fund, as well as the fund company official website.
A fund quarterly report contains a lot of contents, usually a PDF file with 10 page. In fact, you don't need to read word for word at all, just look at the key parts.
The main contents of the quarterly report of the fund
In the quarterly report of the fund, there are four parts worthy of attention:
1, the net growth rate of the fund, which can directly see the performance of the fund in a quarter;
2. Look at the fund portfolio, such as changes in investment industry positions and fund positions, especially the top ten awkward stocks;
3. Changes in fund shares;
4, the fund manager's explanation of the operation of the fund.
Net growth rate of fund
The growth rate of fund net value directly reflects the fund's ability to make money. There is generally a fund net worth table in quarterly reports, and the difference between the net growth rate and the performance benchmark is clear at a glance. Performance comparison benchmark, equivalent to the passing line of the fund, is the most basic performance target line to be achieved when the fund is established. The performance of fund net value and its comparison with performance benchmark are the basic points to judge whether a fund has profitability.
The greater the natural number of fund returns, the more you earn.
There is also a standard deviation. Standard deviation is a measure of the fluctuation degree and investment risk of a fund or performance benchmark. The greater the standard deviation, the greater the fluctuation, the worse the stability of the fund and the higher the investment risk.
Portfolio report
The report of portfolio will explain the investment composition of the fund in detail, which is an important basis for investigating the investment style and stock selection ideas of the fund. From the industry and characteristics of heavy stocks, we can basically see the investment preferences of fund managers. In addition, the style of fund managers can also be seen from the concentration of shareholding. High concentration means more in-depth research, or betting on a few stocks. Low concentration means that the relative price is dispersed and the risk is low, but the income may not be too high.
In addition, we can also compare the industry allocation and heavy stocks with the previous quarterly or annual reports to see what the fund has increased or decreased, so as to infer the fund manager's ability to judge the investment value of individual stocks and the turnover rate of the fund.
Fund share change
Whether the fund is too big or too small will have a negative impact on the fund. At the same time, if the fund share changes too much, it is also worth exploring the reasons for the change.
The fund manager's explanation of the fund operation.
Focus on the investment strategy and operation analysis of the fund, from which we can basically see the operating ideas of the fund manager and some general views on the market and industry, so as to have a general understanding of the future trend of the fund in hand.