I believe everyone knows that speculation is the process of fund operation, so what is speculation? How much knowledge do you need to remember in the operation of the fund? The following is the significance of the speculative fund explosion brought by Bian Xiao. I hope you like it.
What do you mean by speculating in fund positions?
Short position refers to the situation that the customer's rights and interests in the investor's margin account are negative under some special circumstances.
When the market situation changes greatly, if most of the funds in the investor's margin account are occupied by trading margin, and the trading direction is opposite to the market trend, it is easy to explode the position because of the leverage effect of margin trading.
At present, there is no short position risk in Public Offering of Fund and most private equity funds, and only a few leveraged private equity funds have short position risk.
When will the fund explode?
There will be short positions, often because the fund losses are too serious. Generally speaking, it may be because the risk control of the fund is too poor, so the fund fell badly; It is also possible that the fund manager added leverage, but after adding leverage, stocks or bonds developed in the opposite direction, thus triggering short positions.
Generally speaking, Public Offering of Fund in China will not explode. However, if the asset allocation ratio exceeds 100%, that is, the fund manager leverages through bond pledge repurchase, then when the price of pledged bonds falls and some funds pledged by the fund manager suffer losses, it may cause great losses and lead to short positions.
Public Offering of Fund has strict institutional leverage restrictions on investment: the leverage ratio of open-end funds should not exceed 140%. For fixed funds, the closed period shall not exceed 200%, and the open period shall not exceed 140%.
Compared with Public Offering of Fund, private equity funds in China are more likely to break out, because the investment risk of private equity funds is higher. Especially for some equity private equity funds, when the companies they invest in are not listed, it means that private equity funds are in a state of loss, which is easy to cause short positions.
What if the fund doesn't know how to choose?
For beginners, it is really not clear how to choose a fund. Now Bian Xiao tells you that if you don't know to look at the fund rankings first, consider the top 25 funds first. The top rankings are generally in recent months. History performs better.
For short-term investors, they can also choose new funds in combination with market hotspots, that is, they can choose new funds in market hotspots. If you don't know, you can consult your friends who are fund experts. Maybe they will tell you.
Is the fund's income big?
Generally speaking, the expected rate of return of funds is not high. Different types of funds have different expected returns. For example, the expected return of the money fund is relatively stable, with little fluctuation, but the return is not high. The income of stock funds is unstable and fluctuates greatly, and the expected income is relatively high. Expected return and risk correspond, and high return must correspond to high risk, but high risk does not necessarily bring high return.
Take equity funds as an example. Equity funds are risky, but they may not have high expected returns, but they will lose their principal. Investors who are also equity funds may have high returns and some may not. Even for the same fund, the expected return may be different due to different trading methods, so the expected return is not fixed.
Steps and methods of selecting funds
When making fund selection, we can gradually narrow the selection range from large indicators to small indicators, and choose from large to small. The steps of selecting funds mainly include the following aspects:
1, select a fund company
Many people ignore the step of choosing a fund company when choosing a fund. In fact, it is also very important and crucial to choose a good fund company, because the fund managers of well-known and large fund companies are relatively higher. Give a simple example: for example, it is a truth whether those excellent talents will go to big companies, and good fund managers will also go to big companies.
2. Choose the fund size
The size of the fund is also an important criterion for selecting the fund. The larger the fund scale, the more stable the fund is, and the fluctuation range is relatively small. In addition, the larger the fund, the more resources the fund company will invest. Therefore, when choosing a fund, we should try to choose a larger fund. But it does not mean that the bigger the fund, the better, because the fund scale is too large, so it is more difficult for fund managers to control, and it should be judged according to the actual situation.
3. Choose a fund manager
The professional level of the fund manager has a great influence on a fund, and the rise and fall of the fund is also influenced by the subjective consciousness of the fund manager to some extent. Think about it, all our funds are invested by fund managers. If you want to reassure yourself, you need to know enough about fund managers.
4. Look at the historical performance of the fund, fund rating, Sharp rate, Shanghai and Shenzhen 300 income curve and other indicators.
After pre-screening, we have narrowed the scope a lot, so it is relatively easy to look at these indicators at this time, and it will not be aimless on a large scale. At the same time, the maximum withdrawal index of the fund is also more important, because the maximum withdrawal index of the fund corresponds to our risk tolerance, to see if we can bear the biggest loss of the fund.