First of all, define what is 10 basis: a fund with a net return of more than 1000% since its establishment.
When the fund was established, it chose "dividend reinvestment", that is, every dividend was used to continue to buy, and it has been held until now, and the yield exceeded 1000%.
One: How many cardinality of 10 times meet these conditions?
As of July 29, 2022, there were 46 such funds. (large redemption is not considered)
(Source: Eastern Fortune Choice data, Galaxy Securities, as of July 29, 2022, no investment recommendation)
Two: What are the characteristics of this 10 times fund?
0 1
The birthday girl in the fund
To achieve 10 times net growth, time is a very important factor besides the hard work of fund managers in the early stage.
These bases with 10 times were established from May 2002 to June 2006, with an interval of 1 1 and an average age of 18, which can be regarded as the basis for the longevity of the fund.
On the base of 10, Cathay Golden Eagle is older, currently 20 years and 2 months. The age of Mix is younger, but it is also 15 years and 8 months.
Einstein said that the compound interest effect is the eighth wonder in the world. However, it will take time for compound interest to exert its full strength.
02
More than one fund manager
Ten years is a long time span, enough for many things to happen.
In 2004, Tencent just listed on the main board of the Hong Kong Stock Exchange, which was not optimistic about the market. The following year, a young man from Henan invested all his $20 million in Tencent, and he has made a lot of money since he held it. He is Zhang Lei from Gaochun House.
In April 2005, the Shanghai and Shenzhen 300 Index, which is composed of 300 most representative securities, was officially launched.
In 2007, the Shanghai Composite Index soared to 6 124 points; In 2009, GEM was officially launched; 20 15, A shares started again, and the Shanghai Composite Index reached 5 178 points. On 20 18, lithium battery giant Contemporary Ampere Technology Co., Ltd. landed in the A-share market.
On the road of net value growth for more than ten years, these 10 times funds have generally experienced more than one fund manager.
Of course, Zhu Shaoxing's Fuguo Tianhui is an exception. Since its establishment, 16 years has not changed anyone. Lao Zhu also only manages this fund from beginning to end, which is a much-told story in the fund circle.
Similarly, Warburg Power's portfolio has only gone through two sessions, and Liu Ziqiang, the current fund manager, has been in charge of the fund for over 14 years.
China's mixed income has gone through five sessions, and the current fund manager JUNG WOO has been in management for more than 13 years; Guolian 'an has been engaged for four years, and the current fund manager Wei Dong has been in management for more than 12 years. On the road of 10 times, they undoubtedly left a rich and colorful stroke.
Fund managers who have served for more than 3000 days in the above table:
(Source: data of Eastern Fortune Choice, as of July 30, 2022, no investment recommendation is made)
03
Larger fund size
Because of their good performance, they have also contributed huge profits to long-term investors. These funds have a good reputation among investors and their scale is naturally not small.
As of the second quarterly report of the fund in 2022 just released, the average scale of 46 10 times the fund is 5.028 billion yuan.
/kloc-6 parts per billion. Among them, Zhu Shaoxing's rich country remittance scale is 34.368 billion yuan, and Dong's famous work is 23.4./kloc-0.5 billion yuan. At present, Tong Lan, Li Dong and Xie Zhiyu are at the helm together. The scale of Liu Yanchun Jingshun Great Wall Dingyi is 65.438+09.868 billion yuan. These are familiar names.
(Source: data of Eastern Fortune Choice, the second quarterly report of the Fund, as of July 30, 2022, no investment advice)
There are 7 animals whose scale is less than 654.38+0 billion. Among them, the mixed A scale of Changsheng growth value in Wang Ning is 263 million yuan, and the stable scale of TEDA Manulife jointly managed by Liu Xin and Qiu Nanyu is 357 million yuan. These current fund managers have served for a relatively short period of time.
There is also a painful retreat.
After more than ten years of ups and downs in the market, bulls and bears alternate, and these bases of 10 also have some unforgettable retracement memories. Mainly occurred in 2008 and 20 15, that is, the market fell from 6000 points and 5000 points twice.
The average historical maximum withdrawal rate of 46 funds is -55.27%. This number sounds a bit scary, but it should be judged in the context of the times.
In 2007-2008, the Shanghai Composite Index fell from 6 124 to 1664, and the maximum retracement reached -72.83%, which is an appropriate and difficult model.
During the ups and downs of the market in recent two years, the average maximum withdrawal amount of 46 funds was -34.438+0%.
It seems that even the base of 10 times cannot be safe in every market adjustment. The market decline is like rainy weather, once in a while.
Fortunately, it will be sunny after the storm. Although every squatting experience in the market is painful, the general direction is still upward.
Although the Shanghai Composite Index hovered around 3000 points for a long time, the partial-share hybrid fund index representing equity funds was not bound by the broader market, and it still hit a new high after each plunge.
(Image source: Eastern Fortune Choice data, partial stock hybrid fund index (809002), as of July 30, 2022, no investment recommendation)
Three: do something with a high probability of correctness.
Frankly speaking, it is extremely difficult to choose a fund with 10 times from many funds. (At present, the number of funds in Tian Tian Fund exceeds 10000. )
Even if you ask the fund manager if he has the confidence to double the net value of the fund 10 times, it is estimated that no one dares to clap his chest to guarantee it.
Although these funds have a glorious history, they invest to grasp the future, not to cherish the past. Isolated events in the past are difficult to extend linearly to the future.
Of course, some people may really get 10 times the income from these funds, but besides commendable determination, luck probably accounts for a bigger part.
Many things in this world obey the approximate normal distribution. The more exaggerated and extreme the situation, the lower the probability of occurrence. /kloc-the story of 0/0 times the income is really beautiful, but it may just be the deviation of survivors, which can be met but not sought.
The most important thing in investing is to do the right thing with a high probability, not to hope for a small probability event.
Although it takes extraordinary luck to choose 10 times fund, there are also some things that happen with high probability.
For example, even if there are bulls and bears alternating, there are twists and turns, but the overall long-term return rate of stock funds and hybrid funds is still good.
(Source: data of Eastern Fortune Choice, as of July 29, 2022, no investment recommendation is made)
For example, unlike the situation of US stocks, domestic active funds have maintained a certain excess return relative to the broad-based index for a long time.
(Source: Eastern Fortune Choice data, common stock index and common stock fund index, and partial stock mixed refers to partial stock mixed fund index. As of 202112/31,no investment recommendation was made. )
For example, every time there is a painful market crash, investors will feel depressed and afraid to avoid it. But those golden pits that make people break their thighs often appear in this atmosphere.
According to what happens with high probability, do the right thing with high probability, and get the right result with high probability.
(Disclaimer: The yield data are for reference only. Past performance and trend style do not predict future performance, nor do they constitute investment advice. Investors operate accordingly at their own risk. The market is risky, the fixed investment is risky, and the investment needs to be cautious. )