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Baotuan fund in distress: Zhang Kun, Liu Gesong, Wang Zonghe suffered the biggest drop, and new fund managers lost 20% in 10 days
Author: Di Ling mes
[ 截至3月9日，相对前期高点，该基金净值回撤22.48%，这也是该基金成立以来的最大回撤。 ]
Success also has a group, failure also has a group.
At the beginning of the Year of the Ox, A shares suffered continuous one-sided declines. The net worth of products managed by Zhang Kun, Liu Gesong, Wang Zonghe and various “high-level” fund managers has fallen dramatically and has even encountered the biggest setback since its inception. These funds have important positions. Most of its shares are Baotuan shares, which has also exacerbated the “double death” between the share price and the net worth of the product.
Even more exaggerated is that an ABC-Agriculture Fund fund manager newly hired after 90 just took office for 10 business days, and the net worth of the two funds under her management has dropped by more than 20%. At the end of the fourth quarter of 2020, among the ten most strongly held stocks of these two fundsMindray Medical、Ophthalmology Aier、Tongce Medical、WuXi AppTecwithOpcomThese are all so-called fund group actions. Market analysts believe that even if the fund manager wants to adjust positions, it is difficult to complete this operation quickly.
The sharp drop in net product value overlapped the market’s focus on the “redemption wave.” In the middle of the night on March 9, Alipay · Wealth Management Think Tank issued a “Letter to Investors.”
The letter mentioned that in the current situation of increasing market volatility, we should believe in the power of professionalism and give outstanding fund managers with rich investment experience, comprehensive capabilities and strong reversal control capabilities more time. to perform professional operations. In exchange for investment appreciation.
“Top-flow” fund managers find the biggest drawdown
From the Lunar New Year, February 18 to March 9, the Growth Companies Market Index ranked first in the global stock market with a drop of 22.86%. The Shenzhen Component Index fell 15.58% and the Shanghai Composite Index fell 8.09%. The performance of many fund group stocks is significantly weaker than the stock index. Affected by this, the net value of the fund suffered heavy losses, according to data from Choice, the average fall of mixed funds during the same period was 11.11% and the average fall of equity funds was 12.26 %.
Star fund managers who previously wore a halo were not spared, and the net worth of products under management even set a record for retracement. According to Choice data, the E Fund Blue Chip Selected Hybrid managed by Zhang Kun, the “brother of the public offering”, was established on September 5, 2018. As of March 9, the fund’s net worth has fallen by 22 , 48% from the previous high. This is also the bottom line. The biggest setback since its establishment; Another high-quality company from E Funda with a three-year mixed holding period was established on June 17, 2020. As of March 5, the fund’s retracement was 17.19% relative to the previous high, which also established a product history.
In 2020, Penghua Ingenious Selection, managed by Wang Zonghe, “absorbed gold” for more than 130 billion yuan during the mixed fundraiser. As of March 9, the fund’s A and C shares reversals reached 22.72% and 22.77%, respectively, as products. setback since its establishment.
It is worth noting that the famous “love wine” of the previous two fund managers, the main group shares are liquor shares.
The GF Double Engine Upgrade Hybrid A managed by 2019 public fund champion Liu Gesong was established on November 2, 2018. As of March 9, the fund retreated 23.95% from the previous high. The C fund stock will be set in 2020. Today, the pullback has reached 23.97%, which is the biggest pullback since the product was set.
Although Liu Gesong is not good at wine, butLongi shares、BOE A、Yiwei lithium powerOther actions are also a type of institution group actions.
New fund managers lose 20% in 10 days after taking office
“Tier 1” fund managers began managing public offering products and have been in the market for more than ten years and at least seven years. They experienced a rapid change from “heaven to hell” as early as 2015. Some new fund managers simply took on the responsibility of offering public products and fell 20% in 10 business days, and were even “surrounded and held back” by investors.
Recently, ABC-CAInnovative doctorThe ABC-Agriculture-themed healthcare hybrid stock fund manager’s dream has come true “out of the loop.” According to Choice data, ABC-CA’s health theme stock was established on February 10, 2015. At the end of the fourth quarter of 2020, the product scale was 3.147 billion yuan. On February 24, 2021, Mengyuan joined and managed the fund together with Zhao Wei. On March 5, Zhao Wei left and Mengyuan took the initiative alone. Starting March 9, Mengyuan managed ABC-CA’s healthcare stocks for 10 business days, during which the net worth of products fell 20.63%.
The fate of ABC-Agricultural’s other innovative medical hybrids is roughly the same as that of ABC-Agriculture’s health themed actions. From February 24 to March 9, 2021, the net value of the product fell 20.24% in the 10 business days. At the end of the fourth quarter of 2020, the scale of product management is 1.6 billion yuan.
The total size of the two funds that Mengyuan is responsible for is approximately 4.747 billion yuan, and both are at the bottom of the ranking for similar income from February 24 to March 9, 2021.
According to the data, Mengyuan graduated from Peking University with a BA and MA from the University of Reading in the UK. He has 6 years of experience in the securities industry. He has served as a researcher for the Bank of China Fund and an assistant fund manager for ABC-Agricultural Bank. By this estimate, Mengyuan graduated from graduate school in 2015, was born around 1992, and began working as a fund manager when he was in his early 30s.
According to Choice data, as of the end of the fourth quarter of 2020, the top ten heavy stocks of the previous two ABC-CA funds largely overlap, and they all holdBetta PharmaceuticalsMindray Medical,Medicinal stone technology, Ophthalmology Aier,Antu Bio、Kanglong Chemistry, Opcom, Tongce Medical,South Micro Medical, WuXi AppTec, only the share ratio is different, many of which are shares of institutional groups. Market analysts believe that, although Mengyuan may adjust its position after taking over the product, the possibility of a rapid and large-scale adjustment is unlikely, and the aforementioned Baotuan share prices also face the risk of a strong correction.
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