Dafan No.1 is the first private placement product with a three-year yield of 32151.95%, achieving a yield of more than 320 times. It is also the only private product that has achieved 100 times of return. Wenbo red cherry No. 10 ranked second, with a yield of 3395.02% over the same period, and it was the only private product with a yield of about 30 times. Shanxing No.1 and Jianhong absolute return No.1 were 1208.12% and 1179.41%, respectively, ranking the third and fourth.
According to the statistics of relevant data by the reporter of Securities Daily, among the 390 private placement products with the above-mentioned rate of return doubling, most of the products have a yield distribution between 1-3 times in the same period, with a total of 355, including many private placement companies with 10 billion yuan. In the same period, there were 32 products with a yield between 3 times and 10 times, among which famous private placements such as magic square quantification, forest park investment and Yingshui investment were among them.
Statistical data show that a number of 100 million yuan private placement related products are listed in the list of yield, including Linyuan investment, magic square quantification, Yingshui investment, Shifeng asset, Lingjun investment, Danshui spring, Kaifeng investment, Mingyi investment, Gaoyi asset, Dongfang harbor, etc., but the overall performance of their products is relatively differentiated, and some of the related products of private placement have not even realized the income increase Times.
The reporter found that 23 three-year products were shortlisted in the forest park investment, and the overall yield was between 80% and 3 times. Among them, there are 6 products with a yield of more than 2 times, and another 15 products have a yield between 1 and 2 times.
Some private equity products performed poorly
Compared with the private equity products which have achieved double income in the same period, the performance of some private equity products is relatively average. Taking two products invested by Kaifeng as an example, the data shows that Kaifeng macro strategy No. 9 and Kaifeng cangyu enterprising type achieved 45.04% and 29.02% respectively in the same period. Although they were ranked in the positive rate of return, they failed to double the yield. For the magic square, which belongs to the 10 billion yuan private placement, the return rate of four products has not doubled in the same period, namely magic square Xinrong 01, magic square Yinyue 01, magic stone 2 and Yongquan 01. The three-year return rates are 49.07%, 24.86%, 21.38% and 19.86%, respectively.
There are three products of Saiya capital, namely, Saiya growth No.1, Saiya star fund and Saiya Meichun fund. The three-year return rates are 8 times, 4 times and 3 times respectively. But other products of the private placement did not perform well. Among them, Saiya Qilin No.1, which is managed by Huang Yuhui, the fund manager of the company, has a return of - 20.9% in the year and - 41.88% in the past three months; meanwhile, the return of seven products, including Saiya star fund, saya Meichun fund and Saiya star fund, has been negative in recent three months, with the return rate ranging from - 40.42% to - 44.3%.
Zhong Heng, deputy director of Juzhen capital investment, told Securities Daily that the main reason for the performance differentiation of three-year private placement products is in the aspect of stock selection ability, for example, to grasp the cyclical fluctuation and position of the industry plate; at the same time, from the strategic point of view, the return rate of strategies such as multiple stocks, stock index enhancement and CTA is higher, but it will also be accompanied with higher volatility risk And volatility. The underlying asset of the strategy product of stock bull and stock index enhancement is stock. The relatively high volatility of stock price lays the foundation for high return. Selecting the right stock, selecting the right track of the industry and high position operation are the basis for continuous high yield. In addition, the investment target of CTA strategy is commodity futures. The unique leverage and two-way trading characteristics of commodity futures also lay the foundation for its high volatility and high yield.
Lin Jiayi, CEO of Xuanjia finance, told the Securities Daily that the return rate of private equity funds was high this year, which was boosted by the discount rate reduction brought about by the loose credit policy, but this situation is difficult to continue. From the strategic point of view, persisting in long-term allocation of high cost-effective stocks to build a portfolio will achieve high returns. On the one hand, it comes from the security and stability brought by its safety margin; on the other hand, it comes from the profit and valuation promotion brought by the continuous growth of enterprises.
Hou Yanjun, general manager of Houshi Tiancheng investment, also told reporters that at present, the overall yield of equity and futures option derivative funds is relatively high. From the perspective of strategy classification, stock equity products are long-term earnings from the growth of internal value of enterprises; derivative products are to grasp the relative micro market structure and trend of the market, and have leverage attribute.