Mixed annual growth table of flexible allocation of Eastern pillar industries:
Since the establishment of the eastern pillar industrys flexible allocation mix, there have been two fund managers, namely Jiang Qian and Zhu Xiaodong. Neither of them has brought positive benefits to the products. Now Jiang Xi is the main manager.
Jiang Qian joined Dongfang fund in May 2017, and once served as the general manager of research department. At present, she manages six funds: Dongfang innovation technology mix, Dongfang Internet Jia mix, Dongfang artificial intelligence theme mix, Dongfang theme selection mix, Dongfang pillar industry flexible configuration mix and Dongfang selection mix.
Its worth noting that Jiang Qians work experience in the cemetery is not rich. Up to now, he has only served for 2 years and 160 days. However, he has been entrusted with an important task by Oriental fund.
In July 2017, after joining Oriental fund, Jiang Qian directly took over its largest product, Oriental select mix.
However, Jiang Xis management performance is not outstanding, and the return rate of selected mixed positions and flexible allocation mixed positions in Oriental pillar industries are - 7.94% and - 21.55%, respectively, far below the average level of 21.07%.
This year, Jiang Qian was pledged by Oriental fund, and successively took over four products: Oriental innovation technology mix, Oriental artificial intelligence theme mix, Oriental Internet plus mix and Oriental theme selection mix, becoming the fund manager of one drag six.
From the perspective of the eastern pillar industry that Jiang Xi has been managing for a long time, its management characteristics are relatively distinct, and she likes to bet on a certain subject with heavy positions, although the turnover rate is not high, she frequently changes shares. Taking the position held at the end of the third quarter of 2019 as an example, the top ten positions in the bank sector include eight bank shares, namely industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, CITIC Bank, industrial bank, Everbright Bank, Ping An Bank and Huaxia Bank, accounting for 35% of the net worth.
Although such positions brought positive earnings of 6.39% to the eastern pillar industry in the fourth quarter, outperforming similar products in the market and the CSI 300 index, such gambling operations are far from mature institutional investors.
From the perspective of the historical positions of the eastern pillar industries, the products will carry out large-scale positions adjustment for the top ten stocks in each quarter, which also results in almost no overlap of the top ten stocks in the first three quarters of 2019, which is seriously inconsistent with the concept of long-term investment and value investment advocated by the fund.
In addition, Jiang Xi, who was weak in strength, did not settle in the management of multiple products. There was not much intersection between the eastern pillar industry and the Eastern selection in the allocation of individual stocks. The top ten heavy position stocks only overlapped with SDIC power.
Proportion of top 10 positions of 6 funds managed by Jiang Xi:
The ranking of performance scale of public fund veterans is declining
Oriental fund was established on June 11, 2004. As a 16 year public fund veteran, it has been left behind by the head company.
According to the data, the largest scale of Oriental fund in history is 64.996 billion yuan, which appeared at the end of the bull market in 2015, and then fell precipitously, hovering below 30 billion yuan for many years in a row.
In the data just released in 2019, Oriental fund ranks 70 out of hundreds of public fund companies with the scale of 21.02 billion yuan.
Scale trend of all fund products of Oriental fund
In the early years, the equity products of Oriental fund accounted for more, and the characteristics of public offering of securities companies were significant. Due to the continuous downturn in product performance, the scale of equity products continues to decline.
Scale trend of equity products of Oriental fund
62 products and 11 fund managers
According to statistics, at present, 11 fund managers, including Zhou Wei, Wu Pingping, Wang Ran, Xue Ziwei, Shengze, Xu Wenbo, Jiang Qian, Zhang Yukun, Li Rui, Liu Changjun and Yang VIP, manage 9 funds, Wu Pingping, 6 Wang Ran, 4 Xue Ziwei, 5 Shengze, 5 Xu Wenbo, 6 Jiang Qian, 2 Zhang Yukun, 3 Li Rui, 1 Liu Changjun and 1 Yang VIP. In addition, in addition to one trust and more, there are also fund managers who have to face multiple fronts in parallel. For example, Zhou Weis current product types include hybrid, bond and monetary funds. The pressure can be imagined.
It is worth noting that the fund managers of Oriental fund are mostly young generals. Only Wang Ran, Xue Zizheng, Zhou Wei and Xu Wenbo have been in office for more than 4 years, but less than 5 years.
In contrast, Oriental fund has repeatedly issued new products in spite of the severe problem of talent shortage, making the talent shortage worse. The new products issued in the past year include the 18 month fixed issue bonds of Dongfang Zhuohang, the flexible configuration and mix of Dongfang value mining, the one-year pure debt of Dongfang Yongtai, the mix of Dongfang quantitative Multi Strategy, the mix of Dongfang urban consumption themes, and the mix of Dongfang urban consumption themes.
The following are some of the new products issued by Oriental fund up to recently
18 fund scale mini equity products dominate
Soochow Fund ordered the rectification period just past the bottom of its products in the same category for a long time
Minsheng plus bank investment lost 10% in 10 years, turnover rate reached 2852% in half a year
51 credit card checked private first brother Wang Yawei stepping on thunder
Veteran long letter fund is not in the right and interest products shrink 60% performance was Tucao
What are the fund companies behind the overturning of Wuxi viaduct
There are many mini funds in China finance fund market
I dont have a clear idea. Im betting on Dacheng Fund. Its still losing money after two years of trial and error
How long can Dongxing Zhongzhi optimization mix suffer from losses for three consecutive years?
Female fund manager and the secret of mouse warehouse, former director of Great Wall Securities