Before the May Day holiday this year, the Shanghai stock index fell first and then rose, and recovered 3000 points strongly before the holiday.
From the historical data of more than 10 years, A-Shares also broke through the 3000 point mark three times a decade ago, but compared with the investment returns of public funds in the three ranges, the excess return of active equity funds is obvious: the average return in recent 15 years is close to 236%, and the total return of “champion fund” is close to 8 times; In the past 13 years, the average profit was 168%, and more than 70% of active equity funds doubled; In the past 11 years, the investment difficulty has increased significantly, but there are still two 5x funds, more than 60% of the funds have doubled, and 98% of the funds have achieved positive returns.
Insiders said that fund investors need to select fund products suitable for their investment risk preference, find fund managers with excellent long-term performance, and do a good job in long-term investment and rational investment. Similarly, with the help of the investment tool of public fund, they can go through several rounds of market bull and bear conversion to achieve a better long-term return.
ten years ago, it broke through 3000 points three times
obvious excess return on public offering
On February 26, 2007, A-Shares broke through 3000 points for the first time in history and closed at 3040 points on the same day. In the following seven months, the Shanghai index rose like a rainbow, reaching 6124 points, setting a historical high that can not be surpassed so far. It has been 15 years now.
Subsequently, the Shanghai stock index, which experienced the “stock disaster” in 2008, hit a low of 1664 points in October 2008 and resumed its upward trend in 2009. On July 1, 2009, the Shanghai Stock Index stood at 3000 points again and closed at 3008 points. It has a history of nearly 13 years.
On October 19, 2010, the Shanghai stock index once again stood at the integer level of 3000 points, but in the following nearly four years, until the first half of 2014, the index was in a volatile downward trend, which was more than 11 years ago in 2010.
From the perspective of overall performance, in the three periods, although they are at the starting point near 3000 points and have returned to more than 3000 points in the recent closing price, active equity funds have performed well in all periods and obtained obvious excess returns.
The data show that as of the latest closing on April 29, 2022, in the 15 years from February 26, 2007 to now, the average rate of return of 176 active equity funds (combined units) in the whole market is close to 236%. Among them, the performance of common stock funds with high shareholding positions is better, reaching 258%, and the average return of partial stock hybrid funds is 235%.
Similarly, since July 1, 2009, the Shanghai stock index has basically returned to the original position of 3000 points, but 304 active equity funds earn an average of 168%; Since October 19, 2010, 379 active equity funds have also achieved an average investment return of 147%, although they have also experienced four-year bear market and bull bear conversion in 2015.
It is worth noting that in the above three periods, the average return of common stock funds operating in high positions exceeded the investment performance of partial stock hybrid funds, showing the strong stock selection ability of public funds.
In addition, from the proportion of positive returns obtained by active equity funds, all 176 products have achieved positive returns since February 2007, without any failure. In 2009 and 2010, it broke through 3000 points twice, and the proportion of positive return funds also exceeded 98%, both of which obtained obvious excess returns.
In view of the above investment performance, a person from the public offering market department in Beijing said that in terms of lengthening the investment period, due to the strong stock selection ability of public offering funds, they have grasped multiple rounds of structural investment opportunities, and can cross the bull and bear and obtain excess returns in the medium and long term. However, some funds with poor performance may be liquidated in the middle and will not be included in the statistics, which will also lead to a certain “survivor deviation” in the data. However, the number of high-performance funds still accounts for the vast majority, indicating that the long-term performance of public funds has won the test of the market.
fifteen year total return 786.9%
“champion fund” has a huge excess return
It has been more than 15 years since February 26, 2007. That year, the Shanghai stock market broke through 3000 points for the first time in history. Although today, 15 years later, the Shanghai index is still hovering around 3000 points, many public funds have obtained good long-term returns.
According to the data, as of the closing on April 29 this year, the Chinese market has been selected since the A-share stood at 3000 points in February 2007. So far, the yield has been as high as 786.9%, ranking first among active equity funds. After several rounds of bull and bear conversion in 2007 and 2015, it has still obtained rich investment returns. The two products of Wells Fargo Trina and Yinhua rich theme rank second and third respectively, and the 15-year investment return also exceeds 600%.
Fuguo Tianhui selected growth managed by Zhu Shaoxing, with a range return of 549%. Zhu Shaoxing served as the fund manager of the fund in 2005. He is one of the few fund managers in the industry who have completely managed this cycle change and obtained a good long-term return.
Unlike Fuguo Tianhui, the vast majority of funds are managed by successive fund managers and have also achieved good investment returns, such as Jingshun Great Wall Dingyi managed by Liu Yanchun and harvest growth managed by Guikai.
A general manager of public offering in Beijing told reporters that for some “flagship” products raised by public offering, even if the departure of fund managers leads to the change of product fund managers, from the perspective of the interests of fund managers and holders, public offering funds will also arrange the strongest investment and research force to manage Star products. These fund managers with strong investment and research strength can also create long-term and better returns.
the average profit in recent 13 years is 168%
more than 70% of active equity funds doubled
On July 1, 2009, it has a history of nearly 13 years. Similarly, under the condition that the Shanghai stock index has hardly increased, the average net profit of the whole market is 168%, and the excess return is also significant.
According to the data, as of April 29 this year, the advantageous industries of BOCOM had ranked the first in this range with a yield of 561.82%. HSBC Jinxin dynamic strategy and Wells Fargo Trina are stable and optimized. The yield in the same period also reached 485% and 477%, and the yield is close to 5 times.
In addition, Yinhua rich theme, e-fund Kexiang, Huatai Bairui value growth and other funds also returned more than four times in the same period, and the excess return is commendable.
From the perspective of income structure, the number of doubled funds in this interval reached 218, accounting for 71% of this type of funds, and the vast majority of funds have achieved good excess returns.
Compared with the excellent performance of active equity funds, the market index performed poorly in the same period. For example, the Shenzhen stock index fell by 4.71% in the same period, the Shanghai and Shenzhen 300 index rose by 26.84%, and the increase in 13 years was relatively weak.
the investment has been very difficult in recent 11 years
doubling fund also exceeded 60%
On October 19, 2010, there was a period of more than 11 years. Shortly after the 3000 point breakthrough, the stock market faced a four-year bear market. It was not until the second half of 2014 that the stock market regained its upward trend. Then it experienced the bull bear conversion in 2015, the circuit breaker Market in 2016, the “beautiful 50” market in 2017, the bear market in 2018, the three-year bull market from 2019 to 2021, and the sharp decline at the beginning of 2022.
After several rounds of market cycles, the Shanghai stock index returned to 3000 points. Although from the starting point of investment, the investment faced a four-year bear market at the beginning, which was very difficult to invest, some public funds still walked out of a good net worth curve.
On the whole, the average return of 379 active equity funds in this range was 147%, far exceeding the performance of the market index in the same period. Among them, the rate of return is high, the dynamic and flexible configuration of Hua’an and the two products in the advantageous industries of BOCOM have exceeded five times, and the excess return is very significant. Xinhua’s Pan resource advantages and Xingquan Herun products have exceeded four times in the same period, and the investment income is also very considerable.
Although the investment is very difficult, the number of doubled funds in this range has also reached 252, accounting for 66.5% of active equity funds, which is also a high proportion.
Referring to the phenomenon of excess returns of active equity funds, an equity fund manager in Beijing told reporters that although 3000 points frequently appear in history, there have been relatively large changes in the market structure, such as the “beautiful 50 market” in 2017 and the behavior of Pan technology stocks from 2019 to 2021. If fund managers can take root in fundamental research and prosperity investment, they can obtain good excess returns in the structural market; On the other hand, some fund managers will also respond to the sharp fluctuations of the market by adjusting the shareholding structure, shareholding positions, individual stock optimization and other strategies, which will also contribute value to the long-term return of the fund.
The above-mentioned general manager of Beijing public offering also said that as a professional institutional investor, public offering funds have a professional investment and research team and an investment and research atmosphere of in-depth research, which are creating value for investors. From a longer-term perspective, the excess return of public offering active equity funds is also very obvious.
The above income characteristics of active equity funds also have great inspiration for ordinary investors’ scientific investment funds.
The above general manager of Beijing public offering suggested that fund investors need to carefully select products suitable for their investment risk and return preference, find the right fund manager with excellent long-term performance, and make long-term investment and rational investment at the same time. Similarly, with the help of the investment tools of public offering funds, they can better cross the market bull and bear conversion and style switching, so as to achieve better long-term return.
