According to the data of the fund industry association, the scale of public funds in the whole market in 2019 is 14.77 trillion yuan, an increase of 13.29% (1.73 trillion yuan) compared with 2018, and the share of funds in the whole market is 13.69 trillion yuan, an increase of 6.18% (0.80 trillion yuan) compared with 2018.
The strength of the head fund is more and more strong, and the small and medium-sized fund is weak in catching up, which is one of the most significant characteristics of the public offering industry in recent years. According to the statistics of annual report on public funds of Huabao securities in 2020, in terms of the scale distribution of fund companies in the past five years, the total scale of the top 20 fund companies, excluding monetary funds and short-term financial funds, exceeds 60% of the total scale of the whole market.
Specifically, the total scale of the top 20 fund companies in 2015-2019 is 2408.672 billion yuan, 3013.834 billion yuan, 281.445 billion yuan, 2967.688 billion yuan and 4375.196 billion yuan, respectively accounting for 63.77%, 64.94%, 63.62%, 61.96% and 60.01% of the total scale of public funds in that year.
From the perspective of scale concentration, the public fund industry remains strong, and large fund companies occupy the mainstream of the industry by virtue of their advantages in sales, product and personnel allocation. Huabao securities analysis said.
From the perspective of the scale change of the head fund, the ranking is relatively stable in recent years, among which e fund has been the champion of non commodity based scale for four consecutive years, e fund, Boshi and Huaxia have kept the top three scales for three consecutive years, and the status of the Jianghu is basically stable.
Among the top ten, huitianfus scale grew rapidly, from the ninth place at the end of 2018 to the fourth place at the end of 2019; Jiashis ranking fell rapidly, from the fourth place at the end of 2018 to the seventh place at the end of 2019.
The ranking of public funds is more and more stable, and it is more and more difficult for small and medium-sized funds to achieve breakthrough development. However, there are also many funds in the past year to achieve a larger ranking increase, including 25 funds ranking up more than 5, 12 funds ranking up more than 10.
For example, in 2019, Ping An Fund ranked 16th in the scale of non monetary public funds, increasing by 5. The development of Ping An fund is mainly reflected in bond funds, with 35.968 billion new funds issued in the whole year, including 22 pure bond funds, raising 26.013 billion in total. In addition, Ping An continued to market 23.813 billion shares, with a total increase of 59.781 billion shares in non monetary public funds.
In the past, Tianhong fund relied on the counter attack of Monetary Fund to become the king. Although the growth of commodity base in the public offering market was weak in the past year, Tianhong also continued to grasp the opportunities brought by index fund. The annual growth of equity index fund exceeded 10 billion, achieving a rapid rise in the ranking. The scale of non commodity base ranked 35th, increasing by 6.
How to break through the new year of rights and interests
In the past year, Shanghai and Shenzhen 300 index rose 36.07%, gem index rose 43.79% and Wande Quanquan A rose 33.02%. Benefited from the good performance of a shares in 2019, the equity products of public funds ushered in a comprehensive harvest.
The performance of equity products of public funds is more than the index, giving full play to the advantages of active partial share fund managers. According to wind data, the average return of all funds in 2019 is 22.41%, of which the average return of equity funds is 39.61%, followed by the return of hybrid funds is 32.04%.
The common stock fund has the largest return in the subdivision type of partial stock fund. According to the statistics of Huabao securities, in 2019, the median return of 156 equity funds was 47.49%, the maximum return was 106.58%, and the net value of 57 products reached a new high.
The median return of 208 partial hybrid funds is 44.04%, ranking the second, with the maximum return reaching 100.36%, and 142 products reaching a new high of net worth.
From the perspective of performance ranking of fund companies, according to the statistics of Huabao securities, the highest weighted performance ranking in 2019 is Cinda Australia Fund, with an overall yield growth of 72.98%. Due to the small scale of its overall equity assets, there are 11 active equity products with a total scale of 6.205 billion by the end of 2019, which can better implement the investment and research decisions, seize the opportunity to break through when the equity market opportunity comes, and achieve a turnaround from - 10.13% in 2018.
The second to tenth in equity performance return are RONGTONG, Haifutong, Huaan, CAITONG, Yinhua, Yinhe, BOCOM Schroder, Wanjia and e-fund. The return on equity products of the above companies is more than 60%. It can be seen that the funds with good equity performance are mostly small and medium-sized, and RONGTONG, Haifutong, CAITONG, Yinhe and Wanjia are all in the scale of 10 billion equity products.
In addition, in 2019, there are several double base in the equity year, that is, the net value of the fund has grown by more than 100% in the whole year, and the professional manager advantage of the active partial share fund has been highlighted. Many funds also seize the time window to expand the scale. Since the end of last year, there have been several burst funds in the public offering market.
Liu Gesong, general manager of growth and Investment Department of Guangfa, has won the top three fund performance in 2019. From the end of last year to the beginning of this year, he has issued a number of funds, which are popular in the market. In the rapid expansion of equity assets, the scale of Guangfa has also been rising since this year. Compared with 206 funds and 489.2 billion yuan at the end of 2019, the scale of Guangfa has increased rapidly to 217 funds and 526.4 billion yuan.
For the performance of A-share in 2020, Liu Gesongs latest view says that there is a structural opportunity this year. The recent trend of A-share is affected by the overseas market, but we have no systematic risk, its just that the expectation of the molecular end is lower than the original, and its estimated that there are many hedging policies in the future. Therefore, I think there are structural opportunities for A-share this year. One of the main lines is new infrastructure, such as 5g, data center, cloud computing, autonomous control, semiconductor, etc. In addition, the epidemic may lead to lifestyle changes, and there is also an opportunity to select consumer goods with reasonable valuation.
Extended reading, intensive research, rapid layout, joint efforts with nuggets, new infrastructure concept stocks, intensive outbreak of 60% private placement, optimistic about the main line of new infrastructure investment, U.S. stocks or secondary exploration of private placement: do it fast, source: first financial responsibility editor: Ren Hui, nbj9607