Every reporter: Zeng Zijian Every editor: Zhao Yun
On December 29, the A-share market finally ended the last trading day of 2023, and the performance rankings of public funds were also settled.
Looking at the whole year, although the market performance was weak and the annual K-line of various indexes closed with a negative line, the sudden rebound of the market at the end of the year also made the competition in the public fund performance rankings extremely fierce. It wasn't until the end that this year's public fundraising champion was decided.
As shown in the table below, Huaxia North Exchange's innovative small and medium-sized enterprises were selected for two years and will be opened with a return rate of 58.56% during the year, winning the 2023 public fund active equity fund championship. Dongfang Regional Development and Soochow Mobile Internet ranked second and third with yields of 55.02% and 44.93% respectively.
If further broken down by type, Eastern Regional Development won the championship for flexible allocation; the first place for ordinary stock returns was won by Golden Eagle Technology Innovation, which has a return rate of 37.71% this year.
This article will also take stock of these funds on the list by category.
[Beijing Stock Exchange Theme Fund]
A public offering "spoiler" that suddenly made an impact in the second half of the year
Starting from November this year, when the A-share market was extremely depressed, the North Exchange suddenly made an effort and became the most popular place in the market. On October 23, the BSE 50 Index bottomed out at 702 points, and then quickly entered a bull market. As of November 27, in just one month, the BSE 50 Index rose to 1114 points, with a cumulative increase of 58.7%.
With the sudden popularity of the Beijing Stock Exchange, a group of Beijing Stock Exchange's two-year fixed-open hybrid products established in November 2021 have suddenly emerged and become the "spoilers" of public funds this year.
As of the end of the year, HuaXia North Exchange's selected two-year fixed-open funds achieved a year-end return of 58.56%. It is not only the champion of the North Exchange's theme products, but also the "overall" champion of active equity funds. In addition, Taikang BeiEx selected two-year scheduled opening, Guangfa BeiEx selected two-year scheduled opening, and the Beijing Stock Exchange theme funds of Vanguard, Invesco Great Wall, China Universal and other fund companies all received 20% The above income during the year.
Gu Xinfeng, the fund manager of Hua Xia North Exchange's innovative small and medium-sized enterprises selected for two years, also has the latest "remarks". You are welcome to click here to view it.
[Flexible allocation fund]
Champion: Oriental Fund Zhou Siyue - taking high and low cutting to the extreme
Oriental Fund Zhou Siyue's management of Oriental Regional Development has made a profit of 55.02% this year, and finally became the champion of flexible allocation funds.
It is worth noting that if it is limited to the "track" of hybrid funds, the development of the Eastern region ranks second only to a Beijing Stock Exchange theme fund.
Therefore, here we mainly introduce the development of the Eastern region, which is hereby explained.
In the second half of this year, competition will be fierce among Zhou Siyue of Orient Fund, Liu Yuanhai of Soochow Fund, Chen Ying of Golden Eagle Fund, Dong Shanqing of Taixin Fund, etc. Since this month, the performance gap between these products has been small. It was not until the last few trading days that Eastern Regional Development, managed by Zhou Siyue, finally opened up the gap with other competitors with a single-day net value increase of 9.79% on December 28.
Looking back at Zhou Siyue's operations in 2023, it can be said that he took high-low switching to the extreme. In the first half of this year, the Eastern region developed a heavy position in the TMT sector, keeping up with the trend of artificial intelligence, achieving a profit of 55.32% in the first half of the year. Although the performance in the first half of the year is not the best, it is still in the first echelon.
In the second half of the year, when the performance of other funds with heavy positions in the artificial intelligence sector began to decline sharply, Zhou Siyue adjusted all positions to the liquor sector. Therefore, throughout the second half of the year, the development of the Eastern region escaped the decline of AI and gradually became a strong competition for the championship. By. Looking at the performance of
throughout the year, in fact, in the second half of this year, the product actually had negative returns, but the loss was less than 1%, so it was enough to make him the mixed-base champion this year.
It is worth mentioning that on December 28, A-shares rebounded sharply, and the single-day net worth of Oriental Regional Development increased by more than 9% that day. Industry analysts believe that he may have significantly reduced his previous holdings of liquor stocks and bought the photovoltaic sector, which surged that day, at the bottom. It was this switch between high and low that made Zhou Siyue eventually become the champion of mixed-gender.
Several fund managers such as Liu Yuanhai of Soochow Fund, Chen Ying of Golden Eagle Fund, Dong Shanqing of Taixin Fund, etc. had a relatively larger retracement in the second half of the year. At the end of the year, it failed to adjust its positions to low-end sectors in time, so it ultimately missed the championship.
Let’s take a look at the decline list of hybrid funds in 2023. CITIC Construction Investment Low Carbon Growth, Shanghai Banking New Energy Industry Selection, etc. once fell close to 50% this year. However, on December 28, CITIC Construction Investment Low Carbon Growth single-day The net worth also increased by more than 9%, which finally reduced this year's decline to a certain extent.
In the end, CITIC Low Carbon Growth got rid of the embarrassment of last place and handed over the baton to Shanghai Banking New Energy Industry, with a loss of 46.18% for the whole year.
From a full-year perspective, this batch of products that heavily stocked the photovoltaic and new energy sectors ended up with very poor performance throughout the year due to their long-term “dead carry”. On December 28, a very interesting phenomenon is that both the mixed-base champion and the last place may have experienced a surge thanks to the photovoltaic sector.
This also shows that in this year's extremely fragmented market environment, many fund managers have become very "gambling" and often place full bets on one sector, resulting in either big profits or huge losses.
And there is another fund, which is a typical negative teaching material. This fund is Nord New Life managed by Zhou Jiansheng.
In the first half of this year, Nord New Life was fully stocked with artificial intelligence, and its revenue in the first half of the year was as high as 75%, making it the half-way champion.
However, in the second half of the year, Nord New Life still bet heavily on the artificial intelligence sector. The decline in the second half of the year was as high as 46.69%. In the end, it not only lost all the profits in the first half of the year, but also lost 6.59% for the whole year.
[Stock Fund]
Golden Eagle Chen Ying wins the championship with strong quantitative public offering performance
Looking at the top 20 stock funds list in 2023, Golden Eagle Technology Innovation, managed by Golden Eagle Fund Chen Ying, finally became a stock fund with an annual return of 37.71%. Base champion.
In addition, GF Electronic Information Media Industry Selection, managed by Feng Cheng, and Soochow New Energy Vehicle A, managed by Liu Yuanhai, ranked second and third in the shareholding base.
Generally speaking, the overall performance of stock funds this year is weaker than that of hybrid funds. Among the top 20 products, 4 products earned less than 10% during the year. However, it is worth mentioning that despite the relatively weak market conditions this year, many quantitative public offerings have performed strongly. For example, China Zhisheng Pioneer managed by Sun Meng, Guojin Quantitative Multi-Factor managed by Ma Fang and Yao Jiahong, Investment Quantitative Select managed by Wang Ping, etc., all have good returns this year. The scale of SIFC's quantitative multi-factor (total A/C class share) has expanded rapidly. At the end of last year, the scale was only 2.1 billion, and by the end of the third quarter, it expanded to 12.1 billion. In terms of the decline list of
, Guangfa High-end Manufacturing, managed by Zheng Chengran, became the stock-based product with the largest decline, falling 40.74% during the year. In addition, like hybrid funds, products on the stock-based decline list generally focus on photovoltaics, lithium batteries and other sectors.
[Bond Fund]
Finally, let’s take a brief look at the performance list of bond funds in 2023.
The ICBC convertible bonds managed by Huang Shiyuan gained 15.08% during the year, becoming the champion of this year’s debt fund.
ICBC Convertible Bond Selection, also from ICBC, lost 12.77% this year, ranking first in this year's decline list.
[Championship Curse]
Huang Hai breaks the championship curse. What about next year?
In 2023, the "champion curse" of public funds was broken by the Yellow Sea of Vanguard Fund.
In 2022, the products managed by Huanghai included the first and second place among public funds that year, which can be said to be extremely popular. At that time, Wanjia Macro Timing Multi-Strategy managed by Huang Hai ranked first with a return of 48.56% last year; Wanjia Xinli, another fund he managed, ranked second with a return of 43.66%. Not only that, Huang Hai managed Wanjia Selection also ranked fourth.
In 2023, although the above three products managed by Huang Hai failed to enter the top 20 in mixed fund performance, their returns all exceeded 20%. This is really rare among many champion fund managers in recent years.
Let’s take another look at the positions of Huanghai Management products. Last year, he was able to become the public offering champion, mainly relying on his layout in coal energy stocks.This year, Huang Hai did not make any changes in its stock industry selection. It continued to invest heavily in coal and energy stocks, and ultimately achieved good results.
In contrast, Zhou Siyue, who develops in the Eastern region, has a full warehouse of tmt in the first half of the year, a full warehouse of liquor in the second half of the year, and at the end of the year, it is likely that a full warehouse of photovoltaics will be bought at the bottom. The investment style has changed so drastically. I wonder if it can maintain its strength next year?
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