In 2021, the A-share market officially ended, and the annual performance ranking of public funds was settled.

Compared with 91 “double bases” in 2020, in the whole year of 2021, there were only two funds of Qianhai open source public utility and Qianhai open source new economy run by Cui Chenlong, and BAOYING advantageous industry jointly managed by Xiao Xiao and Chen Jinwei. These three funds became real “double bases” with returns of 119.42%, 109.36% and 100.52% respectively, They are also the first, second and third place in the performance of public funds in 2021.

In the same period, Dacheng state-owned enterprise reform, Dacheng cutting-edge industry and Dacheng Ruijing funds managed by Han Chuang were all shortlisted in the top ten annual fund performance list. GF multi factor jointly managed by Tang Xiaobin and Yang Dong, China industry boom managed by Zhong Shuai, Bank of communications trend managed by Yang Jinjin and Great Wall Industry rotation managed by Yang Yu are also outstanding products in 2021, with annual returns of 89.03%, 84.11%, 81.45% and 80.99% respectively.

In 2021, there are still many active equity products hovering at the “bottom”. Among the star fund managers, Penghua innovation managed by Wang Zonghe will return – 27.52% in 2021 in the next 18 months, ranking third in the decline list of active equity funds. In addition, Jingshun Great Wall under the leadership of Liu Yanchun has been growing for two years and Jingshun Great Wall has achieved excellent growth, Qianhai Kaiyuan medical health co managed by Qu Yang and Fan Jie, investment promotion prosperity optimization under Fu Bin, huitianfu high-quality growth selection at the helm of Liu Jiang for two years, driven by the prosperity of the South jointly managed by Mao Wei and Zheng Shiyun The return of Hongde Zhenyuan managed by Wu Chuanyan decreased by more than 17%.

2021 is undoubtedly a big year of “fixed income +”. Among the top 50 debt bases with net worth growth rate in 2021, all are “fixed income +” products. Qianhai open source convertible bond managed by Zeng Jianfei has become the most “beautiful” fixed income product in 2021 with a yield of 48.63%.

QDII fund also showed strong growth momentum in 2021, especially the oil and gas theme fund at the bottom of last year, which rebounded Jedi in the first quarter of 2021. Overall, of the 129 QDII funds included in the statistics, 54 gained positive returns. Correspondingly, QDII losses of heavily held Chinese overseas real estate dollar bonds and Hong Kong stocks were relatively severe. Penghua global medium and short-term debt, BOCOM CSI overseas China Internet Index, e fund zhonggai Internet 50, e fund overseas China Internet 50 connection and other funds also suffered losses of more than 40%.

After the shock in the fourth quarter, which ETFs can stand out? According to the data, on the last trading day of 2021, Huatai Bairui photovoltaic ETF soared by 3.55%, and the yield jumped to 50.24% in 2021, becoming the top of ETF products in 2021. This yield is only 0.02% higher than 50.22% of Cathay Pacific coal ETF.

Interestingly, the top ten performance lists of active equity funds in 2021 were almost taken over by fund companies in Guangdong, Hong Kong and Macao. Except for the managers behind the prosperity of Huaxia Industry and the priority of BOCOM trend, which belong to Huaxia Fund in North China and bocom Schroeder fund in East China, the rest are fund companies in South China, including Qianhai open source fund, Baoying fund, Dacheng Fund, GF fund and Great Wall Fund.

Among the top 20 performance lists of active equity funds, there are two fund companies located in South China, Golden Eagle Fund and Ping An fund, as well as Cinda Aoyin fund and noan fund registered in South China.

Cui Chenlong won the first and second place

Judging from the market situation in 2021, the market structure is seriously differentiated. Compared with the overall pressure of household appliances, non bank finance, real estate and other sectors, Shenwan power equipment industry, which covers many popular new energy segments such as photovoltaic, wind energy, energy storage and UHV, has become the industry with the largest increase in 2021; The sharp rise of international bulk commodities has also pushed up the sharp rise of non-ferrous metals, coal and basic chemical industries; In addition, steel, automobile, petrochemical industry, national defense and military industry, electronics, mechanical equipment and other sectors also performed well this year.

In this context, a number of rookies such as Cui Chenlong, Chen Jinwei, Han Chuang, Tang Xiaobin and Zhong Shuai have emerged and become the most eye-catching fund managers in 2021.

Overall, as of December 31, in 2021, there were 3 active equity funds with a yield of more than 100% (consolidated calculation of different shares, excluding graded funds), and 76 active equity products with a yield of more than 50%.

In fact, as early as mid and early December, the performance of the two funds under Cui Chenlong’s charge was far ahead. At that time, many market participants asserted that there was little suspense about the championship in 2021.

It is true. As of December 31, 2021, a total of 3 “double bases” were born in the whole year. Among them, Qianhai open source utility managed by Cui Chenlong became the annual revenue champion of the fund with a yield of 119.42%. Another fund he managed, Qianhai Kaiyuan new economy, also achieved an annual return of 109.36%, ranking second in the annual return of public funds.

For the good results of the two products, Cui Chenlong said that his investment is not for ranking, “I just want to do my own thing, configure my most promising company or the most promising direction, and maximize the interests of the people.”

On whether new energy will continue to be strong next year, Cui Chenlong said it was “difficult to judge”. He believes that all predictable risks are not called risks. The real risks are unpredictable factors, unpredictable, and sudden arrival is the real risk.

In 2022, Cui Chenlong will continue to be optimistic about the long-term investment opportunities brought by the main line of the energy revolution represented by new energy. He believes that the investment time and space dimensions generated by this main line can be comparable to the first and second industrial revolutions in history, and China is in the leading position in the world in this energy revolution, and a large number of China’s leading enterprises are also global leading enterprises. Therefore, we can share the best development achievements of the industry in China’s capital market and help China’s high-quality enterprises accelerate their development.

Followed by BAOYING advantageous industry jointly managed by Xiao Xiao and Chen Jinwei. On the last day of December 2021, the fund jumped to the ranks of “double base” with a small net increase of 0.54%, and finally became the third place in the fund performance list in 2021 with an annual return of 100.52%.

In the same period, Dacheng state-owned enterprise reform, Dacheng cutting-edge industry and Dacheng Ruijing funds managed by Han Chuang were all shortlisted in the top ten annual fund performance lists, with yields of 94.76%, 88.25% and 84.19% respectively.

GF multi factor jointly managed by Tang Xiaobin and Yang Dong, China industry boom managed by Zhong Shuai, Bank of communications trend managed by Yang Jinjin and Great Wall Industry rotation managed by Yang Yu are also outstanding products in 2021, with annual returns of 89.03%, 84.11%, 81.45% and 80.99% respectively.

Interestingly, the top ten performance lists of active equity funds in 2021 are almost taken over by fund companies in South China. Except for the managers behind the prosperity of Huaxia Industry and the priority of BOCOM trend, which belong to Huaxia Fund in North China and bocom Schroeder fund in East China, the rest are fund companies in South China, such as Qianhai open source fund, Baoying fund, Dacheng Fund, GF fund and Changcheng fund.

Among the top 20 performance lists of active equity funds, there are two fund companies located in South China, Golden Eagle Fund and Ping An fund, as well as Cinda Aoyin fund and noan fund registered in South China.

many star fund managers are still at the bottom

In 2021, there are still many products hovering at the “bottom”. The most significant is the founder Fubon innovation power managed by Li Xinyue. In the past year, the fund has decreased by 32.30%, ranking first in the list of active equity funds.

The market value of huitianfu Shanghai, Hong Kong and Shenzhen managed by Chen Jianwei and the selection of huitianfu Shanghai, Hong Kong and Shenzhen advantages have only returned – 27.52% and – 26.11% respectively in the past year. Nearly 30 products, such as Galaxy leader managed by Zhu Jianhui, Dongwu double triangle jointly managed by Xu Yi and Mao Kejun, TEDA Manulife leading small and medium-sized stocks managed by Zhuang Tengfei, e-fonda pharmaceutical biology managed by Yang Zhenxiao, and ChuangJin Hexin Hong Kong stock Tong large consumption selection managed by Hu Yaosheng, all decreased by more than 20% in 2021.

Among the star fund managers, Penghua innovation managed by Wang Zonghe will return – 27.52% in 2021 in the next 18 months, ranking third in the decline list of active equity funds. His other popular product, Penghua ingenuity selection, raised up to 100 billion for the first time, also decreased its net value by 19.09% in 2021.

Jingshun Great Wall, under the leadership of Liu Yanchun, has experienced excellent growth in Jiying for two years and Jingshun Great Wall. The performance return in 2021 is also unsatisfactory, which are – 21.36% and – 18.46% respectively. Huaxia Ruiyang, jointly managed by Zheng Yu and sun Yijia, is held for one year and Huaxia Changyang is scheduled to open for three years. Last year, the return was – 20.17% and – 18.60%.

In addition, Qianhai Kaiyuan medical and health co managed by Qu Yang and Fan Jie, investment promotion prosperity optimization under Fu Bin, huitianfu high-quality growth selection at the helm of Liu Jiang held for two years, Nanfang prosperity driven co managed by Mao Wei and Zheng Shiyun, and hongdezhenyuan reported by Wu Chuanyan. In the past year, the net value decreased by 21.28%, 21.26%, 20.09%, 18.08% and 17.11% respectively.

fixed income: “fixed income +” led the great harvest of convertible bond funds

From the perspective of product issuance and performance, 2021 is undoubtedly a big year of “fixed income +”. In 2021, the performance of bond funds is still at the forefront, led by “fixed income +”.

The data show that among the top 50 debt bases with net worth growth rate in 2021, all are “fixed income +” products. Among them, Qianhai open source convertible bond managed by Zeng Jianfei has become the most “beautiful” fixed income product in 2021 with a yield of 48.63%.

In the same year, fixed income funds with a yield of more than 40%, as well as Huashang Fengli enhanced dingkai managed by Li Qian, Tianhong Tianli managed by Du Guang and Guangfa convertible bonds managed by Wu Di, with a yield of 45.23%, 44.35% and 42.88% respectively in 2021.

Such rich returns have made many active equity funds “sigh with admiration”.

Followed by 10 “fixed income +” products with an annual yield of 30% – 40%. Including Tianhong Hongfeng enhanced return managed by Du Guang, Chinese business wings managed by Hu Zhongyuan, Yi fangdaxin increased profits managed by Yang Kang, Dacheng convertible bonds managed by Li Fuqiang, Huabao convertible bonds managed by Li Dongliang, Nanfang Changyuan convertible bonds managed by Liu Wenliang, Jinying Yuanfeng managed by Lin Longjun, Chinese business credit enhancement managed by Li Qian, and financing convertible bonds managed by Xu Fuqiang, And Zhejiang Fengli, jointly managed by Jia Teng, Zhou Jincheng and Chen Yafang.

In 2021, there are 25 fixed income products with net value growth rate in the range of 20% – 30, including convertible bonds or convertible bond enhancement funds. The yield of Yinhua convertible bond, BOCOM convertible bond, Wanjia convertible bond, Changjiang convertible bond, shenwanlingxin convertible bond, Boshi convertible bond enhancement, Nanfang Xiyuan convertible bond, Changsheng convertible bond, Minsheng Canada Bank convertible bond optimization, ICBC Credit Suisse convertible bond optimization, Cathay Pacific convertible bond, Huashang convertible bond, CCB convertible bond enhancement, huitianfu convertible bond and other products in 2021 exceeded 20%.

In the current market environment, pure debt funds are more “difficult to stand out”. Among the top 50 funds, only the selected bonds of Chinese convertible bonds managed by Zhang Yongzhi are pure bond products, with a yield of 19.44%.

At the same time, many debt bases fell by more than 20% in 2021, which has become a “drag”. Taking the Minsheng Jiayin Xinxiang managed by Liu Hao and Minsheng Jiayin Tianxin pure debt managed by Hu Zhencang as examples, the two funds fell by 24.62% and 21.43% respectively in 2021, becoming regular customers in the decline list of bond funds in 2021. These two medium and long-term pure debt funds also really let the holders experience the feeling of “stock based holders”.

QDII fund: oil and gas QDII elated

Since 2021, QDII fund has shown a strong growth momentum, especially the oil and gas theme fund, which was at the bottom last year, rebounded Jedi in the first quarter of 2021.

According to choice data, as of December 31, the yield of GF Dow Jones oil was as high as 70.08%, and the yield of Huabao S & P oil and gas also reached 60.23%. In addition, the yield of QDII funds such as e fund crude oil, harvest crude oil, Cathay Pacific bulk commodities and southern crude oil also exceeded 50%, which were 55.99%, 55.19%, 54.93% and 54.88% respectively.

Overall, of the 129 QDII funds (including only the main code) included in the statistics, 54 gained positive returns. On the contrary, among the QDII funds with performance losses, the QDII losses of heavy positions in Chinese overseas real estate dollar bonds and Hong Kong stocks were more severe. Penghua global medium and short term debt, BOCOM CSI overseas China Internet Index, e fund zhonggai Internet 50, e fund overseas China Internet 50 connection and other funds all suffered losses of more than 40%.

It is worth mentioning that Tianhong Vietnam market, the only mainland fund to invest in Vietnam stock market, has achieved a return of 38.62% in 2021, ranking No. 9 in the QDII fund performance list, which is higher than that in the third quarter. Hu Chao, the fund manager of the product, said in the third quarterly report of 2021 that the fund maintained a relatively stable overall position level, but made appropriate adjustments to industry allocation and individual stock selection. At the same time, he said that the stock selection strategy in Vietnam has not changed, and he continues to prefer industry leaders with clear monopoly power or individual stocks with the potential to become industry leaders.

“We have slightly reduced the proportion of the banking sector. The main considerations include: affected by the epidemic, the bad debt rate of banks may rise in the second half of the year, commercial banks reduce loan interest rates under the guidance of the central bank window, and the overall valuation of the banking sector is at a high level. We have increased the allocation proportion of upstream raw materials, and in addition, we have increased the allocation proportion of consumer sectors, which is expected The recovery of consumption after the epidemic is expected to drive the valuation and performance repair of the consumption sector. ” Hu Chao said.

ETF: cycle, new energy theme ETF led the rise

In the first quarter of 2021, the cyclical sectors represented by iron and steel, chemical industry, banking and non-ferrous metals performed well. A number of ETFs tracking such sectors rose with the trend and ranked at the top of the list in the first quarter. By the end of the first half of the year, affected by the sharp rise of new energy, chip and new energy theme ETFs had a strong “hegemony list”. In the third quarter, the cycle made a comeback, and the energy theme ETF represented by coal ETF became “popular fried chicken”.

After the shock in the fourth quarter, which ETFs can stand out?

On the last trading day of 2021, Huatai Bairui photovoltaic ETF rose by 3.55%, and the yield jumped to 50.24%, becoming the top of ETF products in 2021. This yield is only 0.02% higher than 50.22% of Cathay Pacific coal ETF.

It is worth noting that Cathay Pacific coal ETF ranked first in ETF products at the end of the first quarter and the end of the third quarter of 2021. However, compared with the yield of 76.83% at the end of the third quarter, the yield of the fund has shrunk in the fourth quarter.

Followed by Ping An new energy vehicle industry ETF and GF environmental protection industry ETF, the yields of the two funds were 46.45% and 46.17% respectively. In addition, the yield of CCB energy and chemical futures ETF, Boshi new energy vehicle ETF, Huaxia new energy vehicle ETF, Boshi natural resources ETF, Huaxia Sichuan national reform ETF, Cathay steel ETF, guolian’an commodity ETF and other products exceeded 40%.

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(Financial Associated Press)