Celebrity Private Equity Chongyang Investment Trampled on the wrong spot in half a year 59 funds all lost to Shanghai Stock Index

category:Finance
 Celebrity Private Equity Chongyang Investment Trampled on the wrong spot in half a year 59 funds all lost to Shanghai Stock Index


59 funds failed to win the Shanghai Directive in the first half of the year

Specifically, as of the latest net value update date, the best-performing products in the year also rose by less than 17%, while 15 products with a growth rate of less than 6% accounted for nearly 25%, and the worst-performing products were Chongyang Jinheng No. 6. The fund was in the first half of this year. The loss was 3.73%.

Chongyang Jinheng No. 6 was founded on May 21, 2018, and it has been more than a year since then. However, judging from the net value trend of the fund, it did not seem to have taken any action since its establishment last year until March of this year, thus making the net value trend of the fund in the above-mentioned range present a straight line. Although this kind of short position operation helped Chongyang Jinheng No. 6 avoid the stock market crash last year, it also led to its missed rebound at the beginning of this year.

Since early April, the net value of Chongyang Jinheng No. 6 began to fluctuate, proving that the fund has begun to build warehouses. However, the rebound at the beginning of the year mainly occurred in the first quarter of this year, and in April and May, the stock market was mainly pulled back. Because of the late warehousing period, the fund did not share the rising dividend in the first quarter, but in April and May, it shocked and fell with the stock market pullback. Although the stock market stopped declining in June, the funds performance in the first half of the year showed that the fund had recovered. It may be said that it is unfavorable to be a teacher if we still end up losing money.

The largest historical withdrawal of Jinheng No. 6 in Chongyang occurred on June 6 this year, with a withdrawal value of - 9.29% on that day. As of June 28, the cumulative net unit value of Chongyang Jinheng No. 6 was 0.9627 yuan.

There is no bright spot in the historical performance of No. 5 of Chongyang Jinheng, which shares the same roots as No. 6 of Chongyang Jinheng. These two funds are the only products whose cumulative unit net value has fallen below 1 yuan. Founded on May 22, 2018, Chongyang Jinheng No. 5 is only one day apart from Chongyang Jinheng No. 6, but the experience of the two funds is different, which is mainly due to the early construction of the warehouse of Chongyang Jinheng No. 5.

From the private placement network data, the net value trend of Chongyang Jinheng No. 5 is more similar to that of Shanghai and Shenzhen 300. As early as early as June 2018, the fund lost money with the decline of the market. This also means that the fund has held shares in a few days after its establishment, and its warehouse construction speed is very fast. It is precise with Chongyang Jinheng No. 6. Caution makes a sharp contrast.

After last years sustained decline, the stock market began to rebound at the beginning of this year, and the No. 5 performance of Chongyang Jinheng stopped losing and turned into profit. Its net value returned to above 1 yuan at the end of March this year. But the good times are not long. Influenced by the stock market pullback in April and May, the net value of Chongyang Jinheng No. 5, which has just tasted sweetness, retreated again and fell below 1 yuan. As of the closing date of June 28, the accumulative net unit value of the fund was 0.9887 yuan.

Data show that Chongyang Investment was established in June 2009, focusing on asset management business, the predecessor was established in December 2001, Shanghai Chongyang Investment Co., Ltd. In July 2014, Chongyang Investment was restructured into a joint stock company with registered capital of RMB 200 million. In November 2015, Shanghai Chongyang Investment Co., Ltd. was restructured into a group company. Based on the special attributes of asset management industry, Chongyang investment has been operated in partnership mode since its establishment. At present, the management scale of Chongyang investment has exceeded 10 billion yuan.

The founder of Chongyang Investment is Qiu Guogen, who has 23 yearsexperience in securities investment. He started professional investment in 1996, founded Shanghai Chongyang Investment Co., Ltd. in 2001, managed Sunshine Private Equity Fund in 2008, and participated in the establishment of Shanghai Chongyang Investment Management Co., Ltd. in 2009. He is currently a senior partner, chairman and investment manager of Chongyang Investment Committee.

At the end of last year, Chen Xin said in an interview with the media that he was optimistic about the market this year, We are slowly in warehousing. According to past experience, good stocks are out of the market three months to six months in advance. When the market really bottoms up, the rising market has gone through a wave, so we must start in advance.

According to Chen Xin at that time, its promising household appliances (white electricity), real estate, agricultural products, insurance and other indicators did perform well at the beginning of this year, but the performance of Chongyang investment products did not keep pace with the increase, that is to say, in these sectors, Chongyang investment is likely not significantly increased warehouse, the probability is still public utilities. Class industry is the main industry, style is still defensive, which also caused the first half of Chongyang investment 59 funds all lost to the Shanghai Composite Index.

Source: Responsible Editor of China Economic Network: Ren Hui_NBJ9607