In the first 11 months of this year, the data shows that, as of November 30 (A / C is calculated separately), the net value growth rate of the top ten fund units has exceeded 95%. Among them, more than 100% of 7 funds have become double base.
The most striking one is Guangfas high-end manufacturing a, with a yield of 126%, occupying the top position in the performance ranking list.
Due to emergencies in the medical and health sector, medicine has become the hottest sector this year, and the theme funds in this field have also performed well. Among them, the performance growth rate of Qianhai Kaiyuan medical and health care industry reached 82%, and the performance growth rate of investment promotion pharmaceutical health industry and RONGTONG medical and health care industry a also exceeded 70%.
In the second half of the year, the market started a pro cyclical boom, with theme funds such as pro cyclical and military industry catching up and ranking the top of the performance list. Among them, Chuang Jin Hexin industrial cycle selection a, Great Wall environmental protection theme and Penghua environmental protection industry obtained 91.49%, 86.30% and 84.19% respectively.
On the whole, medicine, consumption and technology are undoubtedly the most popular themes in the first half of the year, and the top performance funds are mostly concentrated in these three areas. Since the second half of the year, pro cyclical stocks have performed well, with cyclical, military, nonferrous metals, coal and other sectors rising in turn. Related theme funds are catching up with each other, and their performance keeps climbing, ranking in the top of the list; while the performance of medicine, consumption, science and technology related theme funds has begun to give back.
Small funds are easier to adjust positions
From the perspective of fund managers, Guangfa high-end manufacturing co managed by sun Di and Zheng chengran has ascended the champion throne. But last years performance champion Liu Gesong has not been affected by the curse of the champion. Guangfa Xinxiang fund has still achieved 97.89% outstanding performance this year, ranking eighth.
Zhao Yi, the fund manager of ABC Huili Co., Ltd., has the biggest harvest this year. The yields of the three funds managed by him, namely, Agricultural Bank of China Huili industry 4.0, Agricultural Bank of China new energy theme and Agricultural Bank of China research selection, are all around 110%, ranking second to fourth in the list of active equity funds. Another fund under its management, Agricultural Bank of China Huili Haitang, also ranked among the top ten in three years, with a yield of 95.32%.
Although the performance of these fund managers is very good, it is not difficult to find that most of the funds are small in size. The average size of the top 20 funds in the performance list is only 639 million yuan, and there are even Mini bases with a size of less than 100 million yuan. Among them, only 4 funds with a scale of more than 1 billion yuan are Guangfa high-end manufacturing, ABC Huili new energy theme, ICBC Credit Suisse information industry and Nord value advantage.
In fact, the larger the scale of public funds, the more difficult it is for fund managers to operate. Especially when the style of the market changes suddenly, it is not easy for the fund to adjust its position. In the view of the industry, in the case of rapid change in market style, large-scale funds are usually difficult to quickly adjust positions and avoid risks in time. Small scale fund may be easier to grasp the opportunity and become the dark horse in the market shock.
Source: Ren Hui, editor in charge of China Securities Journal_ NBJ9607