Public offering fund refers to a securities investment fund that raises funds from public investors in an open way and mainly invests in securities. Publicly raise funds through the mass media, and promoters gather public funds to set up investment funds for securities investment. Today, Bian Xiao will share with you the matters needing attention in the next quarterly report of Public Offering of Fund for your reference only!

Dear friends, it's the disclosure season of Public Offering of Fund quarterly report again. Let's talk to you about what is particularly worthy of our attention in this quarterly report.

The first quarter is different from before.

The market in the first quarter of this year is actually different from the past. Simply put, it is a special ups and downs.

First of all, from the market as a whole, the Shanghai Composite Index rose from 3473 points at the end of last year to the highest point of 373 1 point, and then suddenly ushered in adjustment after the year, and the lowest point fell to 3359 points, and then fluctuated within a narrow range below 3500 points.

There are still three quarters this year. How will the market go in the future? Presumably this is also a question that many fund managers are thinking about.

From the perspective of industry style, it must be a "never seen" market for many fund managers who have not been in business for a long time.

The top gainers are all unpopular sectors, such as steel, utilities, banking and leisure services. The increase of 1 quarter this year has exceeded 10%.

However, consumption, medicine, computers, communications, etc. At ordinary times, everyone's favorite is far behind, and 1 quarter has not achieved positive returns.

The adjustment of plate style tests the operation of fund managers.

The future operation of fund managers is worthy of attention.

In fact, from the above point of view, Bian Xiao thinks there are two points in the quarterly report that deserve our attention.

First of all, the market has changed. Should fund managers lighten up their positions? What is the basis for judging the increase or decrease of positions?

Why do fund managers think this is in the best interests of investors? I think fund managers need to make a clear statement in the quarterly report.

Of course, if the fund manager decides to lighten up for a period of time, but the subsequent market rises, or the fund manager does not lighten up, the market is still adjusting, and the fund holder does not have to blame the fund manager too much.

Because first, timing is really a difficult thing, even the most powerful strategist in the market has only a 50% probability of judging the long-term trend of the market;

Second, a period of operation cannot fully explain the problem. We should spend more time on the fund we initially chose to find out whether it is suitable for us.

Secondly, whether the investment direction of fund managers has changed is also worthy of our attention.

Suppose we are fund managers ourselves (though not). Seeing the current market style, we will have two choices.

1. Stick to some investment directions that we were optimistic about, such as consumer medicine, electronic technology media, etc. , and firmly hold them to pursue long-term returns;

2. Take advantage of the trend and allocate some sectors that may appear in the market this year, such as procyclicality, carbon neutrality and so on.

However, according to Bian Xiao's experience for so many years, many excellent fund managers still focus on fundamental research to make investments, and will not blindly follow the trend and invest in unfamiliar areas just because a certain sector is rising well.

Under normal circumstances, many fund managers will keep the core configuration unchanged, and appropriately choose some areas they are familiar with to participate, and the general direction will not change much!

Otherwise, if the investment style of the fund manager has been drifting with the tide, it will also cause confusion to the holders.

Is the fund manager sincere?

In fact, in previous years, everyone did not pay special attention to the quarterly report, because the content written would be more official and the length would not be very long.

However, with the recent adjustment of the market, many investors also want to listen to the fund manager to make more noise and tell the holder more about his views and the summary of the operation review.

In other words, I want to know what the fund manager thinks and why he does it.

Therefore, there are many very high-quality quarterly papers on the market.

In fact, this is a good thing for investors, because when many investors want to know the operation of products and the views of fund managers, most of these public information are obtained from the public reports of products.

So the more fund managers write, the more information we can learn.

However, although we like to watch longer quarterly reports, it doesn't mean that short quarterly reports of fund managers are not serious.

Maybe this fund manager just likes simple style. After all, the performance of the fund ultimately depends on the performance!

Finally, in the past two years, the returns of funds purchased by many investors are generally unsatisfactory. What caused the large losses of most funds? Mars, an analyst at Shanghai Securities Fund Evaluation Center, pointed out that, first of all, fund products are essentially a portfolio of securities, and the performance of fund income is closely related to the performance of the underlying market. In the continuous decline of the stock market, it is difficult for equity funds and hybrid funds, which mainly invest in stocks, to achieve positive returns. In the case of rising stock market, most partial stock funds can often achieve positive returns. Therefore, it is impossible for funds to create myths and create high positive returns in the continuous decline of the market in recent years.

From the long-term performance, in most cases, the overall performance of funds is better than that of individual investors, especially in bull markets and volatile markets. For example, in 2006 and 2007, more than 80% of equity funds achieved a return of more than 100%, while the proportion of individual investors was less than 20 12 years. Nearly 50% of equity funds have achieved a return of 5% to 30%. According to the survey, more than 50% of individual investors have lost between 5% and 50%. Therefore, the fund is still a good investment tool for individual investors to participate in the capital market.

All kinds of problems, whether China's stock market construction, economic development or asset management industry, can't be eliminated in a short time, and all need the rationality of the market as a whole to promote it. However, as investors themselves, we must measure our risk tolerance clearly and not blindly listen to the propaganda of sales staff. If your risk tolerance is weak, or the funds you want to use in the short term, you can't invest too much in a single stock fund to avoid being greatly affected by the risk of stock market fluctuations. Therefore, for individual investors, it is more meaningful to have a long-term investment mentality, choose appropriate fund products according to their own risk tolerance and renewal, avoid excessive pursuit of popular funds with outstanding short-term returns, pay more attention to funds with relatively stable long-term performance, and spread risks through fixed investment and portfolio allocation to obtain long-term stable returns.

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