Although the performance dispute in the field of fixed income is less prominent than that in the field of equity investment, the slight difference reflects the strength difference of fund companies.
Which company will lead in 2021? Which companies have seized market opportunities and achieved good harvests in the past 3, 5 and 10 years?
Haitong Securities Company Limited(600837) recently released the absolute return ranking of fixed income funds of fund companies. According to the four main indicators of 2021, the past three years, the past five years and the past 10 years, the fund King sorted out the top 50 fund companies for reference inside and outside the industry.
At present, the “fixed income +” products are sought after by the market, the core of which is the fixed income investment ability, and the fixed income investment emphasizes the company’s comprehensive investment ability. The advantages of large and medium-sized fund companies are relatively obvious, which is worthy of more research and attention by investors.
performance in recent 10 years
e Fangda and Boshi lead
Over the past 10 years, the bond market has undergone earth shaking changes, which is not only an opportunity but also a challenge for fixed income investment. It is a proof of strength to obtain good returns in the market fluctuations of bull and bear changes.
According to the data of Haitong Securities Company Limited(600837) , in the 10 years from January 4, 2012 to December 31, 2021, the yield ranked first among 52 fund companies, and e Fund ranked first, with a yield of 191.04% in the last 10 years. Followed by Boshi fund, the yield also reached 188.21%. Benefiting from good medium and long-term performance, the fixed income scale of the two companies is very large, and they are properly “big fixed income factories”.
In addition, the return on investment of noan fund, Changxin fund, Minsheng Jiayin, Huafu, Tianzhi and other fund companies also exceeded 130%, and achieved a good harvest in the 10-year market fluctuation.
In terms of the size of fund companies, the average return of 13 large fixed income fund companies in recent 10 years is 96.49%, while the average return of 10 medium-sized companies and 51 small companies in recent 10 years is 90.06% and 85.82%. Similar to active equity investment, the performance of large fixed income fund companies has obvious advantages.
performance in recent 5 years
Chinese businessmen, e-fonda and noan lead
According to the data, in the ranking of net value growth of fixed income funds in the last five years (from January 3, 2017 to December 31, 2021), Chinese businessmen performed the best among the 88 comparable companies, with a net value growth rate of 47.66%, ranking first.
E Fund ranked second with a yield of 44.29%, while noan Fund ranked third with a yield of 43.78%. In addition, the yields of Cinda Aoyin, Hongta laterite and Tianhong in the past five years also exceeded 40%, reaching 42.85%, 41.63% and 40.77% respectively, ranking fourth, fifth and sixth. Fuanda, shenwanlingxin, huitianfu, Changjiang Securities Company Limited(000783) asset management and other fund companies also have good performance, with yields exceeding 27%, indicating that the company’s long-term fixed income investment level continues to be in the lead.
Relatively speaking, the performance gap between large, medium and small fund companies is not large in the rate of return on fixed income in the last five years. The average return of 15 large fixed income fund companies in recent five years was 27.78%, while the average return of 14 medium-sized companies and 51 small companies in recent five years was 24.33% and 26.59%.
15 companies
the income of fixed income in recent three years exceeds 20%
According to the absolute return data of fixed income funds in the last three years (January 2, 2019 to December 31, 2021), it is a period to test the fixed income investment ability of fund companies under the volatile market pattern from 2019 to 2021. Except for one fund company, all fund companies have achieved positive returns.
The data show that the net value growth rate of fixed income products of 42 fund companies has reached more than 15%, of which 15 have a yield of more than 20%.
Specifically, fuanda fund took the lead among 112 comparable fund companies with a yield of 65.43%. The yields of Chinese businessmen and e-fonda in recent three years also exceeded 30%, reaching 50.48% and 30.04% respectively, ranking second and third respectively in the three-year period. Other companies with better performance include laterite innovation, Hongta laterite, Tian Zhi, Chang Xin, Xin Da Australian silver and so on.
Among the fund companies with large fixed income scale, the overall return in recent three years has reached 15.98%, and the ones that have performed well are e fund, huitianfu, Huaxia Fund, Fuguo fund, etc. The average returns of medium-sized and small fund companies in the fixed income field in recent three years were 12.77% and 15.35% respectively.
2021
4 fixed income companies with income exceeding 10%
The bond market in 2021 is full of opportunities, especially the outstanding performance of convertible bonds, which enables a number of bond funds to seize the opportunities to obtain better returns, which also tests the fixed income investment ability of fund companies.
On the whole, Haitong Securities Company Limited(600837) made statistics on the net value growth ranking of 134 public fund managers in 2021, of which 130 obtained positive returns and nearly 4 companies suffered losses. The competition for performance in the field of fixed income is fierce, and there is little gap between many companies and fund companies.
The performance list shows that the net value growth rate of the four managers exceeds 10%, and the income performance is good, namely Jiutai, Huashang, Cinda Australia Bank and Tianzhi. The net value growth rates of the fixed income funds managed by the four companies are 16.25%, 13.34%, 11.92% and 10.58% respectively. In addition, Guojun securities asset management, fuanda and Hongta laterite performed well. From the perspective of the scale of fixed income funds, most of these management companies with good performance are small fund companies, and many companies have products with leading performance.
Large fund companies with good performance are mainly e Fangda, Fuguo, Penghua, Nanfang, etc. Among the medium-sized fund companies, Tianhong, Societe Generale and bocom Schroeder performed better in 2021.
Description of absolute return ranking of fixed income funds of fund management companies:
1. The absolute return of the fund management company refers to the net value growth rate of the active funds managed by the fund company, which is weighted according to the scale of assets under management during the period. The scale of assets under management during the period is simply averaged according to the available scale of the period.
2. Active fixed income funds include pure debt bond funds, quasi debt bond funds, partial debt bond funds, convertible bond funds, short-term debt funds and closed debt bases of non amortized cost method, excluding monetary funds, wealth management debt bases, closed debt bases of amortized cost method and index debt bases.
3. Division of large, medium and small companies: it is divided according to the average scale of active equity (active fixed income) in the recent year in the Haitong Securities Company Limited(600837) scale ranking list, and sorted according to the size of fund companies from arrogant to small. Among them, fund companies whose cumulative average scale of active equity (active fixed income) accounts for 50% of the scale of active equity (active fixed income) in the whole market are classified as large companies, 50% – 70% are classified as medium-sized companies, and the rest are small companies. Small companies also include companies whose products with the longest duration have been established for less than one year.
4. The data comes from wind, the official website of the fund company and Haitong Securities Company Limited(600837) Research Institute.
Ranking of fixed income funds: “fixed income +” has become the favorite of the market, and 90% of the funds have achieved positive returns
Ranking of equity funds: one person won the double crown, and “no Mao” and “no lithium” also became the king. In 2021, several QDII funds fell by more than 40%
(China Fund News)
