No money for more than 4 years! These private funds are a bit of a mystery

category:Finance
 No money for more than 4 years! These private funds are a bit of a mystery


There will always be top students and poor students in a class, but the poor students in the private equity industry pay their tuition with the real money of investors.

According to statistics, from 2016 to 2019, that is, after the bull market in 2015, a total of 36 private fund products with stock strategy lost money for 4 consecutive years, of which 28 were subjective long strategy products.

A number of industry insiders disclosed to reporters: I havent heard of this private placement agency, and it seems that they havent made a good investment by looking at the trend of net value.

According to the public data, Qian Zhonghua, manager of JunGuan investment fund, holds a masters degree in finance from Shanghai University of Finance and economics. He has 20 years of experience in securities market investment management. He once worked in securities companies and insurance companies. He led a 20 member professional investment team responsible for 5 billion asset investment. The number of products under his portfolio is two.

In addition, the reporter also noticed an interesting thing. There is a private placement product on the list. It is clear that from 2016 to 2019, it has fallen for four consecutive years. However, the yield of March this year has also been listed in the top 10 performance list of that month, which is very confusing. Moreover, according to the data updated by Chaoyang Yongyong as of May 24, another product of the private placement ranked first with the annual yield of 189.57%.

A private equity researcher in Shanghai said: private equity institutions probably dont intend to save the products that have been losing money for four consecutive years, because before the product performance reaches a new high, fund managers cant collect performance commission. In this case, if investors are not willing to liquidate, they will allow them to develop wildly, and the net value will rise when a certain stock rebounds this year.

Dont be confused by flash in the pan

Pay more attention to long-term performance

The differentiation performance of private placement in recent five years not only makes many people in the industry feel deeply, but also points out the direction for investors, that is, when choosing private placement, we should pay attention to long-term performance.

In the first few years of sunshine private placement, short-term performance is the most important factor for investors to choose. After a private placement company achieves the top ten results in the first half of the year, investors will rush in in in the second half of the year, and the big probability that they will bear the bitter fruit is this wave of investors. In fact, long-term performance is an important criterion to test a private placement ability. Investors should try to pay attention to those private institutions that have been transformed from bull and bear, and use long-term net worth performance to evaluate the investment style of a private equity institution or fund manager. The researchers said frankly.

According to the statistics of the private placement network, in the first half of this year, the private institutions that were on the hot search company list were Linyuan investment, Gaoyi asset, Jinglin asset, Danshui spring, Mingyi investment, Dongfang harbor, Saiya capital, magic square quantification, Kaifeng investment, and Jiukun investment. After the baptism of time, many private placements have become head or old-fashioned, which shows that investors are becoming more mature u3002

In this context, private institutions may also have to think about their own responsibilities and missions for investors. They should not use investors money to pursue that flash in the pan.

31 private equity funds have made positive returns for five consecutive years

In the private placement industry, where the performance list changes year by year, long-distance runners are precious.

According to private placement network data, in the five years from 2015 to 2019, 31 private equity funds have obtained positive returns for five consecutive years. Specifically, the 31 private placements were contributed by 21 private equity managers, including Danshui spring, AVIC investment, Huili assets, Linyuan investment, Lingjun investment, puleide assets, Baoyin investment, etc. There are 6 private equity companies, including jintechnetium asset, Lerui asset, Ningbo ningju, yourui holding investment, regen asset and Qianxiang asset. There are 2 or more fund products under private placement, and the return is positive for five consecutive years.

It is worth noting that there are several 10 billion private placement companies on the list.

For example, there are four products listed in the 10 billion level private equity Lurui asset which mainly focuses on fixed income strategy. From the perspective of strategic distribution, there are two fixed income and two macro strategies. It is reported that Lerui asset focuses on low-risk investment, adheres to the core of large asset allocation, tracks and identifies the bull bear cycle of different types of financial assets, and avoids the risk of a single asset class.

In addition, 10 billion level private equity yourui holding investment, Danshui spring, Lingjun investment and Baoyin investment have all obtained positive returns for 5 consecutive years. Liu Youhua, a senior researcher at private placement.com, said that among the private fund products that have achieved positive returns for five consecutive years, they are mainly quantitative hedge funds and fixed income funds. The biggest characteristic of quantitative hedge funds and fixed income funds is that their correlation with A-share market is very low. Quantitative hedge funds hedge beta earnings through stock index futures and pursue alpha returns. The level of returns depends on whether the portfolio can outperform the benchmark index, and has nothing to do with the rise and fall of the market. In the stock strategy, there are fewer funds that have achieved positive returns for five consecutive years, but we can see that most of these funds prefer consumption and step on the track. Source: Yang Qian, editor in charge of Shanghai Securities News_ NF4425

In addition, 10 billion level private equity yourui holding investment, Danshui spring, Lingjun investment and Baoyin investment have all obtained positive returns for 5 consecutive years.

Liu Youhua, a senior researcher at private placement.com, said that among the private fund products that have achieved positive returns for five consecutive years, they are mainly quantitative hedge funds and fixed income funds. The biggest characteristic of quantitative hedge funds and fixed income funds is that their correlation with A-share market is very low. Quantitative hedge funds hedge beta earnings through stock index futures and pursue alpha returns. The level of returns depends on whether the portfolio can outperform the benchmark index, and has nothing to do with the rise and fall of the market. In the stock strategy, there are fewer funds that have achieved positive returns for five consecutive years, but we can see that most of these funds prefer consumption and step on the track.