The Top 10 Public Offering List Remains Unchanged, E-Fund'S Multi Explosive Fund Guarantee Trend, Huaxia And Guangfa Are Among The Top Three

"Little has changed."

The China Fund Industry Association released the monthly average non monetary financial management scale data of public funds in the second quarter of 2020, and the ranking of the top ten fund companies is almost the same as that of a quarter ago.

And during this period, the explosive fund is always stirring the market.

"Explosive fund is the key for fund companies to keep their ranking." The interviewees said frankly.

On the other side of the data, large fund companies have also taken up most of the shares when the fund issuance has exploded this year. Every large fund company has a hot money fund.

"Large companies have a relatively large leading edge in channel layout, brand value and other aspects, forming a very obvious Matthew effect."

Top 10 ranking stable

At the end of the second quarter, the average non commodity scale of public offering was announced, and the ranking of head institutions was stable.

China Merchants Fund, China Merchants mutual fund, China Merchants mutual fund, China Merchants Fund 10.

In the second quarter, e-fonda continued to be the first, Huaxia advanced one, Guangfa advanced one, Boshi fell two places.

The rankings of China Southern, huitianfu, Fuguo, BOC, Jiashi and merchants remained unchanged.

Compared with the first quarter, there was no change in the top 10 fund companies. The slight adjustment in the ranking was only Huaxia, Guangfa and Boshi, which ranked second in the second quarter, ranked third, fourth and second in the first quarter.

According to the statistics of the China Association for the foundation of basic science and technology, the total scale of the fund at the end of the second quarter was 16.90 trillion yuan, an increase of 1.56% compared with 16.64 trillion yuan at the end of the first quarter, and 14.77 trillion yuan or 14.42% over the beginning of the year.

It is worth noting that the scale of equity funds increased significantly in the second quarter.

According to the statistics of Pacific Securities, by the end of the first half of 2020, the size of active equity funds was 312.3 billion yuan, an increase of 28.2% compared with the end of the first quarter of 2020, and an increase of 40.8% over the end of 2019; while the scale of passive equity funds was 1054.8 billion yuan, only 0.3% higher than the end of the first quarter of 2020.

In the fixed income products, the scale of partial bond hybrid fund increased significantly, and the monetary fund shrank significantly.

On the one hand, benefited from the rising equity market, the scale of the mixed fund of partial debt increased by 22.7%; on the other hand, with the decline of yield, the scale of Monetary Fund decreased to 7716.4 billion yuan, 8.6% lower than that at the end of the first quarter of 2020.

In short, the scale of public offering increased by 14.42% at the end of the second quarter compared with the beginning of the year, mainly due to the rise in the equity market, with active equity funds making the largest contribution.

The reason why large fund companies can continue to hold the top position in the second quarter lies in their vigorous expansion in the equity market.

"This year, the frequent occurrence of equity funds, which is the first half of the larger fund companies to maintain the size or promotion of the place of contention." Zhang Ting, a senior Macro Analyst at GESHANG wealth, said.

In his opinion, e-fund, Huaxia, Guangfa, Boshi, Nanfang, huitianfu and Fuguo have all set up a lot of popular equity funds this year. The performance of the old funds is excellent, and the scale of customer subscription is gradually increasing.

It is worth noting that the large fund companies issued by the fund is very characteristic.

"This year's new funds of big fund companies are mainly characterized by catching the hot spots in the market." Yang Delong, chief economist of Qianhai open source fund, said.

For example, last year's fund performance champion Liu Gesong was appointed as the pioneer of GF science and technology, which was established on January 22, this year. The fund-raising target is 8 billion yuan, and the confirmed proportion is 8.68%. That is, the sales volume is 92.1 billion yuan in one day.

In addition, Zhang Ting pointed out that "the top ten fund companies in terms of fund size are relatively large-scale fund companies with relatively comprehensive development, and most of them present the characteristics of simultaneous development of equity products and fixed income products."

Hot money fund Matthew effect

It is worth mentioning that this year, when the issue of equity funds is hot and the fund is frequently used, the phenomenon of redeeming the old and buying the new is very serious.

Among the equity funds, the issuance market is hot and the stock market is cold.

According to the statistics of Pacific Securities, the net inflow of equity funds in the first half of the year was less than 40 billion yuan.

In addition to the second quarter of 2020, the issuing scale of the equity funds of xuning exceeded RMB 100 million in the second quarter of 2020.

In contrast, the stock fund market encountered large net redemptions. In the second quarter, the net redemption scale was 248.5 billion yuan, and the total issuance and net subscription was only 37.3 billion yuan. That is to say, the 19.8% growth of equity funds in the second quarter was almost entirely due to the increase of net value, which did not attract large scale incremental funds. In the first quarter of this year, equity funds attracted the second highest growth of 346.2 billion yuan in history Amount of money.

In 2020, the net stock of xufa fund was RMB 20.6 billion, which was the highest in the passive equity fund market, which was RMB 82.6 billion of passive equity fund in 2020 The return scale was 166 billion yuan, with a net outflow of 145.2 billion yuan, second only to the third quarter of 2015.

As a matter of fact, whoever can launch the hot money fund this year will gain greater scale growth. The fund is reconstructing the list of fund companies.

"From the non commodity scale ranking of public funds in the second quarter, the head effect is very obvious, that is, large companies still grab most of the shares when the fund is issued in the second quarter, and large fund companies basically have more than one pop fund." Yang Delong said.

Take e fund, which ranks No.1 in the scale of non commodity funds, as an example. Wind data shows that since 2020, e fund has established 44 new funds (A / C shares are calculated separately), and the issuance scale reaches 122.9 billion yuan.

There have been a lot of hot money in the new fund issued by e-fund this year. For example, the balanced growth of e-fund managed by Chen Hao reached 27 billion shares, and the selected issue share of e-fund research by Ma Bo reached 16.5 billion.

On April 8, e fund, the fund manager of Xiao Nan's fund, was issued with a fund raising scale of 8 billion yuan, which was sold out in one day, accounting for 83.48% of the total, which means that it sold nearly 10 billion yuan in one day.

On June 5, e fund, a high-quality enterprise in which Zhang Kun was the fund manager, held and issued for three years, with a fund-raising scale of 8 billion yuan, with a placement ratio of 23.45%, that is, it sold 34.1 billion yuan in one day.

E-fund, which is managed by Liu Wu, has a fund-raising scale of 8 billion yuan and a placement ratio of 22.72%, which is 35.2 billion yuan sold in one day.

Overall, as of August 20, the number of new funds issued this year has reached 1765.8 billion, of which 26 have reached 10 billion yuan and 73 have reached 5 billion to 10 billion yuan.

Among the top 10 funds, 18% are from the top 10 funds.

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