In recent years, the number of investment funds is increasing, and the issuance scale of new funds is also increasing. In the context of the massive issuance of new funds, should we buy new funds or old funds? Bian Xiao sorted out here whether to buy a new fund or add an old fund for your reference. I hope everyone will gain something in the reading process!
The so-called "old fund" refers to a fund with a long historical performance after a period of management and operation. "New fund" refers to the fund that has not been established for the first time and has no historical performance. In fact, each has its own advantages. Which one should we buy? We can analyze it through the following dimensions.
market environment
When a new fund is established, there will be a corresponding "opening period", that is, the time required to allocate cash to various assets to meet the proportion of investment portfolio stipulated in the fund contract.
According to relevant laws and regulations, the opening period cannot exceed 6 months. Generally speaking, the fund manager will be in 1-2 Zhou Jiancang, or 3-4 months as soon as possible, depending on the scale of new fund raising, the fund manager's judgment on the market outlook and investment ideas.
In a bull market, new funds need to gradually open positions, and positions are generally unlikely to rise too high at once, so they may rise slowly. Because the old fund has maintained a certain position, during the period when the new fund is still building positions, it can theoretically enjoy the dividends brought by the market more fully.
Accordingly, when the market falls sharply, because the position of the new fund is not as high as that of the old fund, the corresponding decline will be smaller, while the fluctuation of the old fund will be greater, especially the stock fund (because the position of the stock fund is not less than 80%).
Liquidity of funds
For new and old open-end funds, the liquidity of funds is also a big difference. The old fund can be redeemed at any time, but the new fund will generally have a "closed period" after its establishment, during which it cannot be redeemed. Investors who want to trade the fund must wait until the product is open. So in terms of liquidity, the new fund is not as good as the old fund.
If the demand for short-term liquidity is relatively high, the old fund that can flexibly apply for redemption every trading day is more suitable; If the liquidity requirement is not so high and the investment direction of the new fund is optimistic for a long time, then the new fund will also be a good choice.
Product information mining
In product information mining, because the old fund has been running for a long time, investors can study its operating style from its historical net worth and various investment reports. Because the new fund has just been issued, there is no past historical performance blessing, and there is less information for reference, and there is great uncertainty in the future.
To sum up, the main difference between the new fund and the old fund is that the closure period of the new fund is 1-3 months, and its liquidity is relatively weak; Buying a new fund may slow down in the short term, but it will go more smoothly.
Old funds already have positions, and the ups and downs will be more obvious. When the market is good, you can better participate in the market, and at the same time, the liquidity and information level will be more advantageous.
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, the essence of fund products is the combination 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.
Tip:
First, we should pay attention to arranging the proportion of fund varieties according to our own risk tolerance and investment purpose. Choose the fund that suits you best, and set an investment ceiling when buying partial stock funds.
Second, be careful not to buy the wrong "fund". The popularity of funds has led to some fake and shoddy products "fishing in troubled waters", so we should pay attention to identification.
Third, pay attention to the post-maintenance of your account. Although the fund is worry-free, it should not be left unattended. Always pay attention to the new announcements on the fund website, so as to have a more comprehensive and timely understanding of the funds you hold.
Fourth, pay attention to buying funds, and don't care too much about the net value of funds. In fact, the fund's income is only related to the net growth rate. As long as the fund's net growth rate stays ahead, the income will naturally be high.
Fifth, we should be careful not to "love the new and hate the old" or blindly pursue new funds. Although the new fund has inherent advantages such as preferential prices, the old fund has long-term operating experience and reasonable positions, which is more worthy of attention and investment.
Sixth, we should be careful not to buy dividend funds unilaterally. Fund dividend is the return of investors' previous income, so it is more reasonable to change the dividend method to "dividend reinvestment" as far as possible.
Seventh, we should pay attention not to talk about heroes in the short term. It is obviously unscientific to judge the pros and cons of the fund by short-term ups and downs, and it is necessary to make a comprehensive evaluation of the fund in many aspects and conduct a long-term investigation.
Eighth, we should pay attention to the flexible choice of investment strategies such as steady and worry-free fixed investment and affordable and simple dividend transfer.
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