The issuance of active equity funds also performed poorly. It is worth noting that during the holding period, the overall issuance ratio of active equity funds has increased significantly, which is one of the few bright spots in the fund issuance market. Recently, many holding products managed by well-known fund managers have been issued. For example, the three-year holding fund managed by E Fund Hao Chen has raised more than 6 billion yuan for the first time, which is expected to become the largest active equity fund issued this year.
On the whole, most of the largest active equity funds issued this year are holding funds.
Active equity funds in the holding period are hot.
According to the statistics of China reporter of Securities Times, as of July 1 day, the issuance scale of active equity funds in the holding period this year was 47.588 billion yuan, while the overall issuance scale of active equity funds in the whole year was only 10 17 1 100 million yuan. The issuance scale of active stock funds during the holding period accounts for half of the issuance scale of new active stock products, while 20265438+. The issuance of holding funds has become the main mode of active stock fund issuance this year.
Holding funds, that is, subscription funds, can only be redeemed after a certain period of time, and the shares bought at different times will be locked one by one. The product form of this kind of fund first appeared in China at 20 18, aiming at cultivating investors' long-term holding habits. Judging from the holding period products issued in Public Offering of Fund, the holding period is as long as seven years and as short as seven days, and the holding period is mostly one year.
Judging from the issuance scale of established funds, eight of the top ten active equity funds sold this year are term funds, such as Xing Zheng Global Heheng holding A for three years, Xinao Zhiyuan holding A for three years and Guangfa Ruiyu holding A for one year. Most of these funds were established in 65438+ 10 this year.
Recently, many well-known fund managers choose to issue holding products. For example, Zheng Chengran's Guangfa Growth Power holds A for three years, its E Fund's high-quality kinetic energy holds A for three years, Li holds A for two years, and its Shen Wanling Xinjiale holds A for one year and Shicheng holds A for one year. UBS's industrial transformation will also be launched this month.
The performance of active stock funds in the holding period is quite different.
The first active equity fund was established on 20 18. In more than three years, the best-performing active equity fund has accumulated a return of 73%, and the worst-performing fund was established at the end of 2020, with a cumulative loss of 3 1. 13%, with a difference of 104%.
The first three-year active stock fund was established less than three years ago, which means that all investors of the three-year active stock fund are currently in a lock-up period. Among them, the best performers are Xie Zhiyu's three-year social value, Wang Pei's three-year voyage to China and Europe a and Zou Wei's Hui 'an Hongyang for three years, with cumulative returns of 60.3%, 36.35% and 36.3 1% respectively, Wu Chuanyan's Hongde Feng Run for three years, Wang Jian's China-Europe Jiahe for three years a, Zhang Kun's Yifangda Quality Enterprise for three years and He Shuai's Bank of Communications.
10 Only 202 1 The cumulative loss of three-year active equity funds issued at a high stock index exceeds 10%.
Recently, the sales of active equity funds in the holding period are hot, which is inseparable from their excellent income this year.
According to the statistics of the Securities Times reporter, as of July 1, 85% of the active equity funds established this year have achieved positive returns. For example, TEDA Manulife's holding of A rose by 28.97% within 18 months, Pengyang's holding of A rose within one year 17.23%, and SDIC UBS's holding of A rose within two years of industrial upgrading/kloc.
Although the average income of one-year products due this year is still negative, 70% of them have gained positive income since their establishment. In terms of three-year products, 30 funds that have completed the first operation cycle have achieved positive returns since their establishment. Among them, the agricultural bank Huili Haitang, which is in a high position, has been open for three years, and Dongfanghuiyang has been open for three years. Since its establishment, its income has exceeded 256%.
"High matching" holding funds are popular.
In April this year, the CSRC issued the Opinions on Accelerating the High-quality Development of Public Offering of Fund Industries, which mentioned encouraging industry institutions to develop various fund products with lock-in periods and serving the life cycle of investors.
Regulators and fund companies hope to lock the holding period of investors by issuing products with set holding period, guide investors to change from short-term investment to long-term investment, and let investors truly experience the value of long-term investment.
Shi Cheng, the proposed fund manager of SDIC UBS Industrial Transformation, said that by counting the historical performance of its managed products, from the perspective of rolling income, the income of more than one year is better, while many domestic investors often do not enjoy the higher income of fund products because of their short holding time. Therefore, the products with holding period are set up to give investors a relatively good holding experience and avoid the situation of buying high and selling low. By setting the holding period, investors will also be more cautious when buying, so that investors can avoid selling in panic or impulse.
Zheng Chengran, the proposed fund manager of Guangfa Growth Power for three years, also said that holding funds for three years is more conducive to fund managers to formulate medium-and long-term investment strategies, hoping to pursue more certain opportunities in growth industries.
In addition to guiding investors to invest for a long time, the "high match" of fund managers holding fund products is also a major selling point to attract investors.
Setting the holding period of fund products and locking the holding period can only attract investors' trust by allocating excellent fund managers. For example, YEATION, a Guangfa industry managed by Liu Geming, held A for three years, Yin Hua Xinjia managed by Li Xiaoxing for two years, and Yifangda Quality YEATION managed by Xiao Nan for three years, all with management scales of over 10 billion. The reason why these products locked for 2-3 years have so many fans is mainly due to the trust in fund managers.
Well-known fund managers in charge of holding fund products are Feng Mingyuan, Wu Chuanyan, Qian Ruinan and Yang.
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