fund manager
1. A manager or a group of managers is responsible for deciding the investment portfolio and investment strategy of each fund. The investment portfolio is selected according to the investment objectives of the fund prospectus, which is determined by the investment strategy of the fund manager.
2. Work function
(1) According to the investment strategy of the Investment Decision Committee, supported by the research report of the Research Department, combined with the analysis of the securities market, listed companies and investment opportunities, formulate specific investment plans for the managed funds, including asset allocation, industry allocation and heavy stock investment plans;
(2) Pay to the R&D department according to the provisions of the fund contract;
(3) Visit the listed companies for further research and in-depth analysis of stock fundamentals;
(4) Build a portfolio and make independent decisions within the scope of authorization; If not, it should be reported to the person in charge of investment and the investment decision-making Committee for approval before issuing trading instructions to the traders in the central trading room.
3, job requirements
(1) knowledge requirements: fund managers generally need to have a master's degree or above in finance, have a good mathematical foundation and a solid economic theory foundation, and more importantly, the investment performance of a certain scale fund in the past.
(2) Skills requirements: Fund managers need to have strong quantitative analysis and investment forecasting capabilities, and be able to make the combination with the most appreciation space and potential in various investment projects; We must also have strong risk control ability and pressure tolerance.
(3) Experience requirements: Fund managers usually require long securities experience, especially "practical experience" in investment, that is, the past investment performance of a certain scale fund is an important condition for whether they can be fund managers.
(4) Professionalism: strategic thinking, sensitivity to market changes, international vision, forward-looking investment vision and good professional ethics.
4. How to choose
(1) The first thing to consider is the fund manager's continuous performance ability. Studies have shown that in the ranking of fund managers in the United States, none of the top ten fund managers in terms of yield is still in the top ten five years later. Looking at the ranking of fund managers in China in the past few years, it seems that only Wang Yawei can always rank in the top ten.
(2) Secondly, we should consider the risk-adjusted income of fund managers. Income and risk are always in direct proportion. Therefore, when analyzing the fund manager, we should consider the risks that the fund bears in order to obtain income. The best comparison method is to consider the information ratio of funds. The higher the ratio, the higher the risk-adjusted income of the fund manager, and the more trustworthy it is.
(3) Third, we should consider the investment philosophy of the fund manager and the consistency of the investment and research team. Only an investment manager who has a stable investment team and a consistent investment philosophy and has achieved sustained and excellent performance is worthy of entrustment.
(4) After that, the fees charged by the fund are also very important. The more efficient the market is, the more difficult it is to obtain excess returns, and the various expenses of the fund have a direct effect on reducing the rate of return of the fund, which can never be ignored.
(5) In short, "men are afraid of entering the wrong line, and women are afraid of marrying the wrong person". Choosing a fund manager is also directly related to the financial interests of investors, so you must know the hero with your eyes and don't be deceived by an accidental outstanding performance.