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新加坡金沙娱乐开户:UBS SDIC treasury investment fund manager mistaken treasure "one more" phenomenon is serious

时间:2018/2/9 20:33:29  作者:  来源:  浏览:0  评论:0
内容摘要: A shares sharply turmoil, stocks frequently suffered sharp plunge, many of which fund Awkwardness frequently lower limit or suspension, has...

A shares sharply turmoil, stocks frequently suffered sharp plunge, many of which fund Awkwardness frequently lower limit or suspension, has become a veritable "bad luck bear."

Recently, UBS SDIC Fund Management Co., Ltd. announced on its securities investment funds (excluding exchange-traded index securities investment funds) held by the suspended stock Digital , soft control shares , Xinwei Group , Dongfang Electric Use "Index Income Method" for valuation adjustment. It is understood that the fund company a total of seven funds heavily warehousing the above suspended stock.

In addition, the fund manager of UBS SDIC has a more serious "one more and more" phenomenon. According to the fund network data every day, some of the company's fund managers manage up to 15 funds at the same time.

According to the daily fund network data, as of December 31, 2017, UBS SDIC Fund more than 50 funds mainly configure the manufacturing sector, which hold the industry share of the highest proportion of net worth is the SDIC UBS mixed national security, 2017 yield -14.99%, lower than similar funds.

For a fund company, the risk of bad stocks, once the stake accounted for fund a larger proportion, the latter will have a greater impact on the fund's net.

In 2016, UBS SDIC has 4 loss-making active assets with loss of performance, namely UBS SDIC Healthcare, UBS SDIC New Silk Road, UBS SDIC Ruisheng, UBS SDIC National Security, yield -6.84%, -6.91%, -14.02%, -14.99% respectively. In addition, more than just equity-related products performed worse than their peers.

Reporter noted that since 2018, SDIC UBS personnel changes frequently, as of February 7, released a total of 10 changes in fund manager's announcement. Among them, January 16 announced the outgoing fund manager Chen Xiaoling the most interesting. According to the daily fund network data, the former UBS SDIC UBS SDIC Beauty China Mix, UBS SDIC strategic mix and UBS SDIC information consumption hybrid fund managers, the return rate of 68%. However, Chen Xiaoling managed two funds in 2017, UBS SDIC strategic mix and UBS SDIC information consumption mix are half-warehouse operation, from the position of stocks, there is no major blue-chip, mainly small plates And gem. According to Wind data, as of December 31, 2017, the one-year average rate of return of the UDIC Strategic Selected Mixed Fund and UBS SDIC Information Consumption Mixed Fund was 1.48% and 2.04%, respectively, while the average return of similar types was 7.76%.

The UBS SDIC strategy selection Mixed stock ratio can be up to 95%, however, according to the fund semi-annual report in 2017, as of June 30, 2017, the stock amount 531 million yuan, accounting for only 40.9% of the total assets %, Bonds and other assets accounted for 59.1%. By industry, the number one manufacturing sector accounted for 31.67% of the net asset value, the mining sector ranked second with a net asset value of 3.86% and the financial sector with the third largest proportion of net asset value was 1.84%. The top ten Awkwardness are Sun Paper , FAW Fuwei , Ryoma sanitation , blue flame holding , Lier Chemical , CITIC Securities , Shuanghui development , Knopp letter , Xu Ji Electric , Xingsen Technology , the proportion of the total net assets amounted to 21.69%.

For the fund manager unique style of heavy stock selection, an industry in an interview with reporters, said: "The fund manager's view of the market may have a personal touch, for the management of funds have convergent effect, but each fund's The subject of investment under the fund contract constraints are not the same, this effect is limited. "

Review of the stock market in 2017, is not difficult to find that the consumer industry, riding a clean, financial, The same song. So the main Shigekura small cap stocks, did not seize the market outlet, there is no bet on the blue-chip White Horse, is the result of the overall performance of the two funds are not good reason?

Fund Research In an interview with the "IFC", the expert Wang Qunhang said that from 2017 to 2018, the stock market is mainly led by blue-chip stocks, and if it is not properly grasped, it will miss the opportunity. The poor performance of the fund mainly for two major reasons, the objective reason is the fund product design issues, but the subjective reason is that the fund manager did not allocate money to the allocation of place.

"more than a drag" serious

It is understood that UBS SDIC has been established for 16 years, which raised funds under management has just entered the one hundred billion echelon, the same year the establishment of other fund companies, investment fund Management has exceeded 400 billion yuan.

As China's first joint venture fund management company with the highest foreign shareholding ratio, the products of its SDIC fund under the UBS Fund portfolio were negative for a total of 24 losses in 2016, with a total loss of 2.087 billion yuan.

According to the daily fund network data, UBS SDIC Fund managers, a person up to manage at the same time 15 funds. Such as fund manager Yan Wenhao manages 15 funds, of which in addition to the UDIC UD Money A and UDIC UBI Dobao currency I cumulative service returns above 12%, ranking the top, the remaining 13 funds are in the same category Ranked behind, its China UBS mixed income fund units in the last month, the cumulative net decline of 20.90%, up 14.99% in the week, 2604 similar funds ranked 2602.

Reporter also learned that, in addition to Yan Wenhao, the UBS SDIC UBS there are five fund managers there is "more than one" phenomenon, each at least manage more than 10 funds.

Fund manager "drag more" will not affect the performance of the fund? In an interview with the "IFC" reporter, Wang Qunhang said that in the past, the two products managed by fund managers tended to be "big" with a "small" and a "good" one with "bad" performance. But now the situation is not the same, two products managed by the same fund manager are often good performance, "one more" has no absolute impact on fund performance.

Han Wei, general manager of Hengfeng stone capital management company believes that if the different fund investment strategy, investment style is the same or similar, the management of fund managers can span a large, little impact on performance, and vice versa may affect performance. Different fund managers vary widely in management capabilities and ultimately rely on long-term investment performance to test.

Wang Qun Hang example, Central European Fund two funds managed by the manager Zhou Yingbo China and the EU era of wisdom A and C Europe mixed wisdom, scope and strategy of the larger, the total was 40-50 billion yuan, for fund managers, Pressure is not too big. However, if the "one more and more" product crosses too many types, it is proactive and passive. For example, because some small companies lack talent, many fund managers are being "ducked" and their performance is usually not very good.


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