With only six trading days left before the end of 2021, the performance of public funds has entered the final sprint stage. According to the net value data as of December 22, among the active equity funds, Qianhai open source public utilities and Qianhai open source new economy a managed by Cui Chenlong have been far ahead, followed by the three funds are still “close combat”. In the view of insiders, the ranking may still be variable in the last six trading days, and the daily net value fluctuation will lead to the change of the final yield.
Qianhai open source is temporarily ahead of
As of December 22, Qianhai open source public utilities and Qianhai open source new economy a managed by Cui Chenlong had obvious performance advantages. The data show that the yields of the two funds have been 118.17% and 110.01% respectively since this year.
Followed by BAOYING advantageous industry a, the yield has reached 96.01% since this year, with a difference of 22 percentage points and 14 percentage points respectively from the top two. The multi factor returns of Dacheng state-owned enterprise reform and GF were 89.93% and 87.01% respectively. In addition, there are Dacheng cutting-edge industry, China industry boom, Golden Eagle national emerging, Dacheng Ruijing A and Great Wall Industry rotation a, with a yield of more than 80%.
Previously, Xincheng emerging industry a, SDIC UBS new energy a and SDIC UBS advanced manufacturing, which are expected to “compete with Qianhai open source funds”, have been fully opened. The data show that since this year, the yield of Xincheng emerging industry a has been 74.70%, and the yields of SDIC UBS new energy a and SDIC UBS advanced manufacturing have been 58.11% and 55.60% respectively.
On the whole, as the performance of the first two funds is “riding on the dust”, at this time, the performance competition seems to be evolving into the “sprint” of several other funds. Among them, the following three funds are “close combat”. However, before December 31, there may still be variables. Under the base of excessive increase in net worth growth rate, daily net worth fluctuation will aggravate the change of final yield. For example, in the two trading days of December 17 and December 20, the net value of Qianhai Kaiyuan public utilities decreased by 1.71% and 3.51% respectively, and the yield fell from 125% to 113% during the year, down 12 percentage points in the two trading days.
in recent three years, the fund performance far exceeded the stock index
For a long time, since December 23, 2018, the A-share market has opened a structural bull market with upward shocks for more than two years. The data show that the average yield of 2254 active equity funds in recent three years has reached 135.04%, far exceeding the performance of Shanghai stock index, Shenzhen Component Index and Shanghai and Shenzhen 300 in the same period. Among them, SDIC UBS Jinbao ranks first with a yield of 473.13%, and the fund is managed by Shi Cheng.
The second is the selected research of ABC Huili managed by Zhao Yi, with a yield of 462.59% in recent three years. At the same time, there are 10 funds, including HSBC Jinxin smart manufacturing pioneer a, TEDA Manulife transformation opportunity a, ABC Huili new energy theme, Xincheng medium and small cap, ABC Huili industry 4.0, ICBC Credit Suisse ecological environment, Ping An strategy pioneer, steady optimization of investment promotion, Xincheng emerging industry a and Ping an strategy pioneer, with a yield of more than 400% in recent three years. In addition, there are 56 funds, including Wanzhong innovation of Chinese businessmen, Dacheng cutting-edge industry, Jinying national emerging, Baoying advanced manufacturing a, Dacheng state-owned enterprise reform, Huaxia energy innovation a and new Huaxin Power A, with a yield of more than 300% in recent three years.
focus on the trend of heavy stocks
From the market performance on December 23, the three major stock indexes of A-Shares closed up collectively. At present, the estimated net value of the top ten funds ranked in the performance of the year is also red across the board.
The estimated net value of Qianhai Kaiyuan public utilities was 3.7235, up 2.73%; The estimated net value of Qianhai Kaiyuan new economy a was 3.5627, up 0.50%.
In addition, the estimated net value of Baoying advantageous industry a was 3.8212, up 0.59%; The estimated net value of Dacheng state-owned enterprise reform was 3.7440, up 1.24%; Gf’s multi factor estimated net value was 3.8081, up 0.49%.
However, towards the end of the year, insiders said that the position adjustment and stock exchange of fund managers are more frequent, and the estimated net value may be different from the actual net value.
China Securities Journal reporter combed the heavy positions of Qianhai Kaiyuan public utilities and Qianhai Kaiyuan new economy a funds in the third quarter and found that there are four overlapping targets of the top ten heavy positions of the two funds, namely Eve Energy Co.Ltd(300014) , Contemporary Amperex Technology Co.Limited(300750) , Xiamen Faratronic Co.Ltd(600563) , Hunan Zhongke Electric Co.Ltd(300035) .
From the performance of the above four heavy warehouse stocks in recent time, they have fallen to varying degrees since December. Among them, Hunan Zhongke Electric Co.Ltd(300035) , the share price fell from 39 yuan / share in early December to 29.83 yuan / share at present, with the share price down 3.12%. Xiamen Faratronic Co.Ltd(600563) fell from 256 yuan / share in early December to 227 yuan / share at present, but the stock price has rebounded in the last two trading days. The share price of Contemporary Amperex Technology Co.Limited(300750) has also fallen since December, but it has risen in recent two trading days, rising 1.02% on the 22nd and 1.94% on the 23rd, with a closing price of 622.07 yuan / share. Eve Energy Co.Ltd(300014) also showed a downward trend recently. The closing price of the stock on December 1 was 142.8 yuan / share, and the latest closing price on December 23 was 122.96 yuan / share.
As the new year approaches, the capital game increases market volatility. Golden Eagle Fund said that generally speaking, at the end of the year, Chinese institutions have actions such as adjusting positions and cashing in earnings. The latest situation of covid-19 pneumonia has also attracted market attention. In addition, the market is worried that under inflationary pressure, the global central banks represented by the United States will accelerate the pace of tightening, which will have an adverse impact on the capital market.
Looking forward to the future, China Merchants Fund believes that the allocation of high boom industries will still be maintained for some time in the future. On the one hand, the expectation of liquidity easing in the near future has been fully reflected, but the tone of the overall monetary policy is still stable, the space for the subsequent market valuation to continue to improve significantly is limited, and the situation of structural high valuation still exists. On the other hand, the boom difference between different industries is expanding, and the structural market will become more and more intense. Considering the continuous pressure on the macro economy, it is difficult to form the support for the upward breakthrough of A-Shares from the perspective of performance driving. In terms of industry structure, the cost will affect the confidence of midstream and downstream enterprises in expanding production. In the short term, we will still focus on the carbon neutralization main line with high prosperity and continuous performance.
(China Securities Journal)
