Public Offering "Self Purchase" Active Equity Funds: Which Fund Managers Are Supported By Their Own Staff?

Employees of fund companies should know more about the funds of their own companies than ordinary funders. The amount of funds held by employees can reflect their recognition of fund products to a certain extent, which can be used as a reference index for fund selection.

Fund income differentiation, base selection has become the most important thing in basic people's investment.

According to the 21st century economic report reporter tracking data, the scale of fund companies' self purchase products continues to rise, with a total of 4.142 billion yuan in 2020.

Among them, 465 million yuan of stock funds, 1.592 billion yuan of mixed funds and 1.884 billion yuan of bond funds.

This data, compared with the total scale of self purchased products of fund companies in 2019, has a significant increase of 2.867 billion yuan.

Among the active equity funds (excluding pension funds and strategic placement funds), the top 20 self purchased funds held by managers exceeded 30 million yuan. Among them, Xingquan Herun managed by Xie Zhiyu was held by his own employees as high as 95.01 million yuan, ranking first; The blue chip selection of e fund managed by Zhang Kun was held 80.15 million yuan by employees, ranking second; Xingquan trend investment was held by the staff of RMB 60.09 million, ranking the third; Among the top 20 are the growth value of Ruiyuan managed by Fu Pengbo, and growth a selected by Fuguo Tianhui managed by Zhu Shaoxing.

The self purchase of fund company employees can be divided into two categories: one is the self purchase of 10 million yuan required by the fund company for the customized products; The other is that the staff of the fund company are optimistic about the products and the investment ability of the fund manager, or the fund manager purchases his own products and binds to the interests of investors.

Analysts said that the long-term outstanding performance of large and medium-sized funds are more favored by their own staff, but also by the allocation of fund managers.

Top 20 held by employees of active equity fund companies

What are the most popular equity funds among fund company employees?

The reporter of 21st century economic report sorted out the top 20 equity funds of fund companies' employees' purchase amount in 2020 annual report, and excluded the pension target funds of strategic placement.

As pension target funds and strategic placement funds are innovative varieties in the industry, for such products, employees of fund companies generally initiate self purchase to support, so the reference value of employees' self purchase data is not too great.

Statistics show that top managers such as Xie Zhiyu, Zhang Kun and Dong Chengfei are not only recognized by ordinary investors, but also loved by their own employees.

In particular, Xingzheng Global Fund has six funds on the list, including Xingquan Herun, Xingquan trend investment, Xingquan business model optimization, Xingquan suitable, Xingquan selection and Xingquan new vision.

The number one fund manager, Xie Zhiyu, manages Xingquan Herun, whose employees have purchased nearly 100 million yuan.

According to public data, Xie Zhiyu has been a fund manager since 2013, and has successively served as a researcher in the research department of Xingquan Fund Management Co., Ltd., an investment manager of the special account investment department, and a fund manager of the lof. He is now the investment director of the fund management department. He is a three-year hybrid fund manager of Xingquan Herun, Xingquan Yiyi and Xingquan social value, with a management scale of 66.423 billion yuan.

The same is true of Xingquan Trend Investment managed by Dong Chengfei. By the end of 2020, the shares of his own employees reached 6.04 million, and the total amount reached 6.09 million yuan.

In addition to e fund's blue chip selection, Jingshun Great Wall's China return, Jingshun Great Wall's environmental protection advantages and other star products, e-fund's medium and small cap managed by top current fund manager Zhang Kun also ranked in the top 20.

In addition, the growth value of Ruiyuan and the equilibrium value of Ruiyuan, which are popular products, were also snapped up by fund company employees, holding 53.22 million yuan and 50.73 million yuan respectively.

According to choice data, according to the annual report of 2020, employees of fund companies hold 5.7 billion shares of non monetary funds, an increase of 27% year-on-year. By the end of 2020, employees of all market fund companies held 1887 active equity funds, with a total of 2.64 billion shares.

Top 20 active equity funds held by fund management companies

The self purchase of fund companies is generally defensive. Industry insiders believe that self purchase of funds is to bundle the interests of the company and the interests of the foundation people, expressing confidence that they are optimistic about the market and fund profits.

According to the data, the total scale of self purchased products of fund companies in 2019 is 2.867 billion yuan, and that in 2020 is 4.142 billion yuan, including 465 million yuan of stock funds, 1.592 billion yuan of hybrid funds and 1.884 billion yuan of bond funds.

The first large amount of self purchase of old funds by fund companies is the self purchase of six old funds by huitianfu in February 2020, including huitianfu value selection, huitianfu consumer industry, huitianfu innovative medicine, huitianfu mobile Internet, huitianfu private vitality and huitianfu consumption upgrading. The self purchase amount of single fund is more than 30 million yuan.

According to wind data, huitianfu's consumer industry, managed by star fund manager Hu Xinwei, is listed as the top 20 active equity fund management companies.

According to the data, Hu Xinwei joined huitianfu fund as an industry analyst in 2011 and has been a fund manager since 2016. At present, he manages huitianfu's consumption industry, huitianfu's value creation, huitianfu's consumption upgrading, Tianfu's Min'an gain, huitianfu's steady growth, huitianfu's mid market value selection and huitianfu's consumption selection are two-year fund managers, The total management scale is 57.707 billion yuan.

In addition to some pension funds, there are star products such as e fund blue chip selection.

Although the self purchase of funds is generally based on the pursuit of long-term returns, but also to guide long-term investment, but the current market is too focused on short-term ups and downs. Therefore, some analysts believe that the self purchase behavior of fund companies should be regarded as an independent investor behavior, and can not simply believe that self purchase funds can definitely make money.

Find out employees' preference for self purchase

Why are these funds favored by employees?

Analysts believe that it is mainly because of the long-term performance of the fund, such as the famous 10-year growth a of rich country Tianhui.

Fuguo Tianhui selected growth a was established in 2005, is a partial stock hybrid fund, the fund manager is Zhu Shaoxing. In the 16 years since its establishment, the fund managers of Fuguo Tianhui have never been replaced, which is very rare in the development history of the public offering industry. Among the 15 bull bases born in the industry, only the fund managers of Fuguo Tianhui have never been replaced.

As of May 6, the latest scale of class A shares was 34.747 billion yuan, and the latest scale of class C shares was 3.248 billion yuan. According to wind data statistics, Fuguo Tianhui selected growth was held by Fuguo fund employees totaling 35.03 million yuan.

For the aftermarket, Zhu Shaoxing thinks that the liquidity of the market is loose, but there is a trend of tightening, and the real economy has a strong recovery momentum. In the future, we will be committed to finding value in high-quality stocks, and prefer to invest in enterprises with good "corporate gene", perfect corporate governance structure and excellent management.

In addition, Xingquan Herun, which has a revenue of 208% in the past five years, and e fund, which has an income of 333% in the past five years, is also very popular with fund company employees.

E fund was established in 2008, when it was the year of bull bear alternation. So far, it has gone through two bull and bear cycles. In recent one year, the fund has increased by 76.09%, and in the past three years, the fund has increased by 159.70%, which has been given excellent ratings by third-party institutions. At present, the scale of the fund is 31.464 billion yuan, and the company's employees hold 41.66 million yuan.

For the future, Zhang Kun said that the long-term prospects of China's economy and capital market are optimistic. He believes that a number of high-quality enterprises will continue to grow, mature and live a long life, and high-quality equity assets are still attractive among various types of assets.

Industry insiders believe that the self purchase enthusiasm of the head office employees is higher, and the performance is better, and the products of large and medium-sized funds are more popular, but the self purchase behavior of fund companies or employees can only provide reference for investors, and the purchase of funds needs to follow their own investment logic.

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