In this regard, china securities journal reporter learned that there are indeed products under the Oriental Harbor that touch the warning line, but the product scale is not large. As for whether lightening positions is involved, the specific product contract shall prevail.
Relevant persons said that conventional risk control measures will not have a big impact on the market, and they are still optimistic about the market opportunities in the second half of the year.
Three products hit the warning line
It is reported that Shan Bin's three products that hit the warning line are Fiona Fang 1 No.2, No.3 of Oriental Harbor, which were established on June 24, 2020. According to the data of the third-party platform, as of August 26th, the unit net value of the three products all fell below 0.8 yuan, that is, the floating loss exceeded 20%, hitting the warning line of products.
After the product touches the warning line, it is usually necessary to reduce the position to half position, so as to increase the cash ratio in the account, reduce the investment risk, control the maximum loss within a certain range, and increase the position until the net value returns to the top of the warning line.
In this regard, china securities journal reporter further confirmed that there are indeed three products in Oriental Harbor that hit the warning line, mainly related to the recent weakening of the global market. As for whether to reduce the position, it depends on the specific terms of the product contract.
However, the company said that these three products are not large in scale, and even if they reduce their positions, they are not expected to have much impact on the market, and they are still optimistic about the market in the second half of the year.
From the changes of the net value of the three products, it has been on a downward trend since February, when 1 and 202 1 hit new highs. Since the beginning of this year, the yield has been negative. Take Fiona Fang 1 in Dongfang Harbor as an example, the cumulative rate of return this year is-19.62%. The net unit value announced on August 26th hit a record low of three products. According to the fund files, the stop loss lines of the three funds are all 0.7. If the subsequent net value falls further, there may be a risk of liquidation.
Image source: third-party platform
In fact, Fiona Fang No.5, the Oriental Harbor, which previously belonged to the Fiona Fang series, has taken the lead in falling below the warning line. Judging from the change range of net value, it is lower than other products in the same series, which also reveals that the product may have reduced its position.
The decline in US stocks is the main reason.
The reporter learned that these products all involve US stock investment, and the recent weakening of the global market represented by US stocks is the main reason for the sharp fluctuations in the net value of fund products.
Since the beginning of this year, Shan Bin's position adjustment operation has caused controversy many times. Many products of Oriental Harbor evaded the sharp withdrawal from February to April because of "short positions", but missed the rebound of the market at the end of April. Since June 10, the net value of its products fluctuated greatly, and the company responded by adjusting its positions and increasing the number of US stocks. However, from the change of net value, the result of adding positions three months ago is not ideal, and the weekly winning rate is low.
Judging from the income of the products of Oriental Harbor, the data of the third-party platform shows that this year's income is generally negative, and only the value selection of Oriental Harbor Zhongyou Securities 1 is positive. However, in the long run, the annualized income of many products of Danbin is more eye-catching, and the cumulative yield of many products exceeds 300%.
The insiders believe that the overall market situation is relatively low at present, and many private equity companies are also facing the same dilemma, but they are still optimistic about the follow-up market.
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