Take a look at the name of the fund: take E Fund's small and medium-sized stocks as an example. Judging from its name, its investment style is probably small and medium-sized stocks.
Second, look at the fund prospectus: E Fund's mixed small and medium-sized stocks prospectus expresses the fund's investment philosophy: mining high-growth small and medium-sized stocks.
Third, look at the performance benchmark of the fund: the performance benchmark of E Fund's mixed small and medium-sized stocks is: 45%× Tianxiang medium-sized index yield +35%× Tianxiang small-sized index yield +20%× China Bond Total Index yield.
Based on the above information, it can be judged that the nominal style of E Fund's small and medium-sized mixed market is the growth of small and medium-sized market value.
Step 2: Judge the "truth" of the fund. Among the top ten stocks of E Fund, Meinian Health, Wuliangye, Kweichow Moutai, Hualan Bio, Supor and Zhongju Hi-Tech are all components of the CSI 100 index, and the actual style of the fund is more inclined to large-cap stocks.
Although holding the title of' small and medium-sized stocks', the actual position style is more biased towards large-cap stocks, which can be said to be' not worthy of the name'.
The drift of fund products mainly comes from two aspects, one is the short-term style drift of fund products caused by the change of fund managers, and the other is the fund style drift caused by the change of fund managers' style.
For institutional investors and individual investors, style drift will bring certain risks. Generally speaking, the basic people match their own funds according to their own investment style and investment objectives, combined with their own investment preferences and risk tolerance.
If the fund style drifts, buying a fund is like buying a blind box. I don't know which theme plate the allocated assets are in, and I face the risk that the funds I invest in don't match myself. Some fund managers' style drift is "rushing forward" outside the ability circle, which is serious breach of contract and dishonesty. The basic people will be forced to bear the investment risks in unfamiliar fields with them.
However, style drift is not all bad. There is a view that the style drift reflects the fund manager's keen grasp of market conditions and stock market style changes, and it is understandable to adjust the strategy in time and achieve good performance to show some of its active investment ability, as long as it can bring considerable benefits. For the fund with poor performance in the past, if the fund manager chooses to actively adjust the investment strategy to improve the fund performance, it may change the investment style of the fund, but the new style will also bring new opportunities.
In the final analysis, if Ji Min has its own thinking system in asset allocation and strict institutional allocation requirements in fund style, then Ji Min should pay more attention to the historical investment style of funds and carefully allocate funds with drift style; If the basic people have no style configuration requirements, then the influence of style drift on the basic people is not great. What the basic people want to analyze is whether the style change can bring excess income.
Because there is no unified conclusion, investors need to combine their own situation, multi-dimensional horizontal comparison, and treat style drift more rationally.
Therefore, after purchasing a fund, investors should also conduct a more comprehensive investigation on the performance, fluctuation and investment style of the fund manager on a regular basis, and try to hold the products of fund managers with excellent long-term performance and stable style, because such funds are more likely to perform well in the future.