"I often hear that fund companies advise investors to stick to long-term holding, but the fund I bought has been held for more than one year. Seeing the income fall from 30% to - 20%, I don't know whether I still want to stick to long-term holding now?" Xiao Su, an investor, expressed his confusion.
On March 15, when the global stock market fluctuated, the three major indexes of the A-share market closed down, more than 4400 shares fell, and many funds with heavy positions in hot track stocks also fell to the "hot search". The reporter noted that many fund companies have called on investors to hold funds for a long time. However, the net value of some funds has not only decreased by more than 20% since this year, but also decreased by more than 20% in the past one year or even three years.
For investors, does long-term holding mean holding all the time? Can we get better returns? Some people in the financial industry admitted that the long-term holding of the fund can disperse the short-term fluctuations of the fund, but if investors choose a bad long-term holding of the fund, they will only lose more and more. For conservative investors, pure bond funds and monetary funds can be considered for long-term holding.
phenomenon
since this year, the net value of more than 200 equity funds has fallen by more than 20%
Data show that as of March 14, the net value of more than 500 of the 5752 hybrid funds has fallen by more than 20% this year, and the net value of more than 200 of the 2059 equity funds has fallen by more than 20%; Among 2333 bond funds, the net value of three funds fell by more than 20%. Specifically, the net value of hybrid funds such as Qianhai Kaiyuan Shanghai Hong Kong Shenzhen boom industry selection hybrid, Huatai Bairui Hong Kong stock connect era opportunity hybrid A / C, ICBC Shanghai Hong Kong Shenzhen selection hybrid A / C, harvest Hong Kong stock connect new economy index a / C and Wells Fargo China Securities Hong Kong stock connect internet ETF initiated connection a / C fell by more than 20%.
For a long time, among the funds whose net value has decreased by more than 20% in recent one year or even in recent three years, there are also "figures" of harvest Hong Kong stock connect new economy index a / C, ICBC Shanghai Hong Kong Shenzhen selected hybrid A / C and other funds.
The net value performance of the fund also puzzles many investors: can long-term holding really get a better return? "We suggest that investors hold a long-term attitude towards fund investment, but not all funds are worth holding for a long time." Hu Bo, manager of Rongzhi investment fund of private placement paipai.com, said.
market
heavy position stocks were cashed out, and the overall position of stock private placement was lower than that of last year
On March 15, more than 4400 A shares fell, and only 245 shares were red. The reporter was concerned that the net value of the fund also fluctuated sharply due to the decline of individual stocks.
For example, on March 15, Jinneng Science&Technology Co.Ltd(603113) fell 6.84% to close at 12.12 yuan / share. According to the data of fund heavy positions in the 2021 annual report, there are 11 Funds heavy positions in the stock, of which the fund holding the largest number is harvest research select hybrid A. harvest research select hybrid a currently has a scale of 1.903 billion yuan, down 19.32% in the past year. In addition, as of the closing on March 15, Aier Eye Hospital Group Co.Ltd(300015) fell sharply by 11.41% to 26.94 yuan / share, down 70% from the high of 88.5 yuan / share in June 2021. While Aier Eye Hospital Group Co.Ltd(300015) ranks second among the top ten heavyweight stocks of Ge Lan. As of the fourth quarter of 2021, Ge Lan held 3 China National Complete Plant Import And Export Co.Ltd(000151) 40 million shares. If calculated according to the current stock price, the market value of Aier Eye Hospital Group Co.Ltd(300015) held by Ge Lan is 3.87 billion yuan, which is 2 billion yuan lower than the market value of 5.95 billion yuan at the end of 2021.
In fact, with the disclosure of the annual reports of Listed Companies in 2021, some star fund managers' heavy positions and position adjustment and stock exchange also surfaced, and many funds appeared behind many listed companies. For example, in Suzhou Nanomicro Technology Co.Ltd(688690) 's list of top ten circulating shareholders, China Europe healthcare managed by Ge Lan holds about 1.36 million shares, and the new top ten circulating shareholders rank second, while Xingquan Herun and Xingquan Heyi managed by Xie Zhiyu reduced their holdings of about Shanghai Pudong Development Bank Co.Ltd(600000) shares and 550000 shares respectively, but they still rank sixth and fourth.
In addition, some invisible heavy positions of top flow fund managers such as Fu Pengbo, Zhu Shaoxing and Liu Gesong have also changed, such as Ruiyuan's new growth value Suzhou Maxwell Technologies Co.Ltd(300751) ; Fuguo Tianhui Xinjin Hangzhou Youngsun Intelligent Equipment Co.Ltd(603901) ; GF dual engine upgrade hybrid reduction Shandong Wit Dyne Health Co.Ltd(000915) .
According to the latest data obtained by the reporter from the private placement network, as of March 4, the stock private placement position index was 75.77%, of which 48.87% of the stock private placement positions were more than 80%, 27.52% of the stock private placement positions were between 50% and 80%, and those less than 50% accounted for 23.62%. From the perspective of lengthening the cycle, the average position index of stock private placement this year is 75.80%, while the average position index of stock private placement in 2021 is 77.43%. It can be seen that the overall position of stock private placement this year is significantly lower than that in 2021.
perspective
nearly 70% of common stock funds and partial stock hybrid funds account for a large proportion of "young" funds
The reporter learned that there are no restrictions on fund types. Only from the perspective of the establishment years of the fund, there are 2470 funds less than one year, 5377 funds less than three years, 6904 funds less than five years and 1639 funds more than seven years.
Boshi Fund pointed out that at present, there are 3644 common stock and partial stock hybrid funds in the market, of which 2550 funds have not recovered their capital after the largest withdrawal, accounting for nearly 70%. Looking further, among the 2550 funds, 2300 are "young" funds that have been established for less than three years, accounting for the vast majority. Most of the funds that are difficult to "return the capital" were established in the hot market period of the first two years, but they have experienced a correction in the market shock in the past year and have not been able to "return the blood" at present. These funds are also the loss making funds currently held by most people.
Some people in the financial industry admitted that the long-term holding of the fund can disperse the short-term fluctuations of the fund and reduce risks. However, if investors choose a bad fund for long-term holding, they will only lose more and more. Therefore, for conservative investors, pure bond funds and monetary funds can be considered for long-term holding, because the volatility of these two funds is relatively small.
Does long-term holding mean long-term holding? When should I sell the fund? "Sell as you buy. The logic of buying funds disappears. It's time to sell." Zhao Yubin, research director of yingmi fund, explained that if the style of the fund manager is understandable and recognized by investors, investors will sell when the style of the fund manager drifts or when the fund manager leaves office.
