Star Fund Manager "Anti Epidemic": The New Development Fund Goes Against The Market And Opens The Golden Pit.

In the first three trading days of the rat year, A shares experienced a roller coaster ride after the impact of the epidemic.

The three largest indexes in the first trading day of the rat, the Shanghai Composite Index, Shenzhen stock index and gem, all fell sharply. The closing adjustment ranges were -7.72%, -8.45% and -6.86% respectively. But then two days of retaliatory rebounding, within two days three index rose 2.60%, 5.38%, 8.01%.

Then, when the A share market is in turmoil, can star fund managers pay close attention to the "Black Swans" and wait for the opportunity to copy the bottom?

There are many indications that star fund managers have not been able to avoid the "Black Swans" of the epidemic. The net value has generally fallen. However, many star fund managers may not have lighten their positions when the A shares fell sharply. Instead, they have made a bargain hunting.

Star fund "epidemic time" achievements

A shares fell sharply in February 3rd, even though Liu Gesong, who won last year's fund performance champion, failed to escape the fate of his performance.

In 2019, Liu Gesong managed GF,, GF, and Gd, and diversified emerging yields were 121.7%, 110.4% and 106.6%, respectively.

The net value of the three funds decreased by 6.16%, 6.57% and 6.32% respectively in February 3rd. Last year's fourth quarter report showed that Liu Gesong's three funds were heavily concentrated on the growth stocks of the technology industry. In February 3rd, the three funds fell substantially in proportion to the -6.86% performance of the gem, and the positions should not be low.

In addition, Liu Gesong's new two partial shares fund is also worthy of attention. The GFA technology innovation founded in December 25, 2019 and the GFA technology pioneer set up in January 22, 2020 are all funds for the explosion.

Among them, GFA technology innovation effective subscription application confirmation ratio is less than 3.3%, the first scale of the upper limit is 1 billion yuan.

GF technology innovation's net value adjustment in February 3rd was -6.32%. The decrease is basically the same as that of the three Asian runner up units. Based on this, it is presumed that Liu Jie song basically completed the construction of the warehouse in less than a month before the Spring Festival.

The GF technology pioneer hybrid was established in January 22nd, the day before the A stock market closed, there is no public net value, but from time to time, we should not have enough time to complete the warehouse.

Despite being hit hard by the "black swan", with the retaliatory rebound of A shares, in February 4th, the net value of Liu Gesong's GFA, gf's innovation and upgrading, GFA's diversified emerging and GFA's technological innovation rose by 4.32%, 4.45%, 4.89% and 3.26% respectively. This increase is not much different from that of the gem on the day, and there is no obvious reduction in positions on the 4.84% positions.

In addition, the top 10 of the fund's performance last year included the Huaan media Internet (101.70%), Yinhua domestic demand (100.36%), the growth of Bank of communications 30 (99.88%), the new impetus for the banking economy (99.78%), Galaxy innovation growth (97.12%), Noah growth (95.44%), and flexible return allocation (95.21%). Their adjustment ranges in February 3rd were -6.24%, -8.19%, -5.80%, -8.35%, -7.15%, -6.48% and -4.72%.

To put it simply, in the event of a sharp fall in the market, even the best performing funds of last year have followed suit, with an adjustment ranging from -4.72% to -8.35%.

However, in February 4th, last year, the top 10 of the performance fund rebounded with the A share net growth rate, ranging from 1.59% to 5.64%, which generally outperformed the broader market.

Adverse market opening

In this case of the impact of the epidemic, the operation of star fund managers is obviously quite concerned.

A fund manager who had just issued a burst fund at the beginning of the year told reporters that after the outbreak of the epidemic, the A shares fell sharply after the holidays, and the probability of public offering lighten up was relatively low, because the public offering institutions were more rational, facing the panic relatively relatively calm, and the public offering paid more attention to the long-term income. When A shares are low, many public funds, especially the new development fund, will copy the bottom. When retail investors panic to sell, institutions take over.

Another head of the equity division of a large fund company said that some new development funds had a very low position before they could raise some of their positions through the opportunity of a substantial adjustment of A shares.

"There must be an agency in the two days. In the whole year, technology stocks are not pessimistic. A fund manager who was heavily loaded with technology stocks and outstanding performance believed last year.

In fact, when the A shares fell sharply in February 3rd, retail investors and agencies reversed.

In the first trading day of the rat, the retail investors were selling madly, but the main force of the three largest institutions of A shares enthusiastically went to the bottom of the bargain: the net inflow of 22 billion 800 million yuan from the north to the three day; the insurance fund bought and sold through the purchase fund or the form of buying stocks, and increased the allocation; at the same time, a large number of public funds actively added.

According to the fund industry association of China, according to incomplete statistics, as at 20 hours in February 4, 2020, 26 public fund managers indicated that they had 2 billion 54 million 500 thousand yuan in their own funds and employees' funds to subscribe to their public offerings and special account products. Since then, a large number of fund companies have announced the purchase of their own equity products.

In response, a fund industry source told reporters that the main purchase of public offerings was its own blue chip fund, including the new fund managed by star fund managers, and the old fund with excellent performance prospects.

Take the southern fund as an example, the announcement shows that the southern fund invested 45 million yuan in February 4, 2020 to purchase the mixed investment fund of Southern information innovation.

Public information shows that the southern information innovation was established in June 19, 2019, and was established for less than a year. The fund manager is Mao Wei and Zheng Xiaoxi. Among them, Mao Wei is the star fund manager of the southern fund, the executive director of the research department. At present, he manages 9 funds, and the total scale of the management fund is 25 billion 200 million; Zheng Xiaoxi is the senior vice president of the research department of the southern fund rights and interests.

Information innovation in the south is mainly invested in technology stocks, with a return of up to 55.91% and a return of 102% over the past six months, compared with only 31% of the same fund. Its performance is much higher than that of similar funds.

Another example is the self purchase of huitianfu fund.

According to the announcement, huitianfu invested 200 million in February 4th to purchase 6 funds, all of which earned more than 40% last year.

Reporters access to information shows that the year 2019, huitianfu value picked income is 40.20%, huitianfu consumption industry returns 72.84%, huitianfu Innovation Medicine return is 70.52%, huitianfu mobile Internet return is 52.46%, huitianfu private vitality return is 53.67%, huitianfu consumption upgrade return is 41.02%.