Text/Liu Zhentao
The management scale of the old public offering Huabao fund has declined!
With the completion of the disclosure of the fund's 2023 quarterly report, the management scale of various public offering companies last year has also surfaced. The management scale of some companies has achieved growth against the market throughout the year, while the management scale of some companies has declined. The veteran public offering Huabao Fund is one of the companies that has declined in scale.
Huabao Fund was established on March 7, 2003, 20 years ago, the company's major shareholder is Huabao Trust, so Huabao Fund is a "trust" public offering company.
Wind data shows that as of the end of December 31, 2023, the total scale of public offering management of Huabao Fund was 308.793 billion yuan, ranking 27th in the whole market. At the end of 2022, the total scale of public offering management of Huabao Fund was 331.663 billion yuan, ranking 24th in the whole market.
In 2023, compared with 2022, the annual public offering scale of Huabao Fund will decrease by 22.87 billion yuan, and the scale ranking will drop by 3 places.
Carefully observing the changes in the scale of various products of Huabao Fund, the sharp decline in the scale of passive index products and ETFs is the main reason for the decline in the scale of Huabao Fund.
When it comes to Huabao Fund, in addition to the old public offering companies, what impresses the outside world is the company's development in the field of ETFs.
In April 2010, Huabao Fund issued its first ETF product, Value ETF. At that time, the issuance of domestic ETFs changed from a slow trend to a stage of normalized development, and Huabao Fund began to expand its ETF products in the field of ETFs.
Win's data shows that as of the end of December 31, 2023, Huabao Fund has a total of 26 ETF products (multiple shares are combined). With the expansion of ETF products, the ETF scale of Huabao Fund began to rise.
At the end of 2018, the scale of ETF products under Huabao Fund exceeded 100 billion yuan and reached 109.337 billion yuan, ranking first in the market. In 2019, Huabao Fund's ETF products fell below 100 billion yuan, and the scale was overtaken by China AMC, ranking second in the market.
From 2020 to 2021, the ETF scale of Huabao Fund began to rise sharply, and at the end of 2021, the scale of ETF products exceeded 200 billion.
However, at the beginning of 2022, the scale of Huabao Fund's ETF products began to decline again. Especially in the past 2023, the scale of Huabao Fund's ETF products has declined significantly, and the amount of decline ranks first in the market.
Wind data shows that at the end of 2023, the total scale of Huabao Fund ETF products will be 157.416 billion yuan, ranking fourth in the whole market, while at the end of 2022, the scale of Huabao Fund ETF products will be 180.853 billion yuan, ranking second in the whole market, second only to China Asset Management.
In 2023, compared with 2022, the ETF scale of Huabao Fund will decrease by 23.437 billion yuan, the largest decline among the public offering companies that manage ETF products, and the market ranking of ETF scale will also drop by 2 places, from 2nd to 4th.
From the perspective of ETF products, the ETF product with the largest decrease in the scale of Huabao Fund in 2023 is a currency ETF product called Huabao Cash Gain.
According to the fund's quarterly report, as of the end of December 31, 2023, the asset size of Huabao Cash Tianyi ETF was 93.767 billion yuan, while at the end of 2022, the asset scale of the fund was 132.021 billion yuan, and the asset scale of the fund decreased by 38.254 billion yuan in 2023 compared with 2022.
From this point of view, the scale of Huabao Fund's currency ETF will decline sharply in 2023, resulting in a decline in the overall scale of ETF products, which in turn affects the decline in the overall management scale of the company.
Since 2017, Tianhong Fund has taken the lead in becoming a public offering company with a scale of more than one trillion yuan, and taking advantage of the east wind of the public offering industry, E Fund, China Asset Management, China Southern Fund, etc. have also exceeded one trillion yuan in scale. The management scale of more than one trillion yuan has also become the dream of many fund companies.
Huang Kongwei, chairman of Huabao Fund, said in an interview with the media on the 20th anniversary of Huabao Fund in 2023 that in the five-year strategic development plan formulated by Huabao Fund, "trillion Huabao" will be achieved in 2027, that is, the company's revenue and profits will continue to grow, and finally achieve a fund management scale of more than one trillion yuan, ranking among the first-class echelon in the asset management industry.
Judging from the current management scale of Huabao Fund, there is still a gap of more than 600 billion yuan from the "trillion Huabao". This is a big challenge for Huabao Fund. In the future, for the trillion-dollar dream, Huabao Fund needs to work harder.
What do you think about the sharp decline in the scale of ETF products of Huabao Fund in 2023, resulting in an overall decline of more than 20 billion yuan in the company's management scale?