This article is based on publicly available information and is for information purposes only and does not constitute any investment advice.
Producer/Company Research Office Fund Group
Sentence / Kaikawa
The annual annual report season of listed companies is coming, and the financial data of public funds are also being announced. According to incomplete statistics from the company's research office, as of April 12, nearly 40 fund companies disclosed in the 2023 annual reports of listed shareholders, 5 of which have a net profit of close to or reach more than 2 billion, are all relatively top-notch industry head companies.
The changes in the profits of the fund companies themselves are of course important, but investors are more interested in: in the past year, among the top 5 fund companies, which products can make the most money for the people, and who is in charge of these products? To this end, the company's research office will conduct statistical analysis on the existing products of these five leading companies according to the classification of stock, hybrid, index, QDII, bond, and currency, and find out the products with the highest net profit in each category of each company in 2023. (Due to product crossover and other reasons, individual varieties are adjusted within the company, which does not affect the analysis and comparison).
01. Portraits of the 30 most profitable fund managers, 5 female masters account for 87%
The top 5 fund companies in net profit in 2023, the most profitable fund managers in 6 categories of products, 5 people in each category, and a total of 30 people. These people may not be the most profitable of all fund companies in 2023, but they should be among that group.
Statistics show that in terms of gender, there are 5 female fund managers among these 30 people, accounting for 1/6, they are: Yu Haiyan and Wang Xiaochen of E Fund Fund, Liu Weilin of ICBC Credit Suisse, Wen Xiujuan and Song Qianqian of GF Fund. Except for Song Qianqian, who has served for less than 4 years, the others are all women who have served for more than 9 years, and they are mostly engaged in fixed income investment, and their performance is relatively stable.
In terms of academic qualifications, these 30 people basically graduated from famous universities at home and abroad, including 26 master's degrees, accounting for 86.67%, most of them are master's degrees in economics, 3 are bachelor's degrees, accounting for 1/10, and only 1 doctor, Liu Weilin, who is in charge of ICBC India Fund, is a doctor of financial engineering from Renmin University.
From the perspective of graduate schools, there are more students from Peking University, Tsinghua University, Fudan University, and Renmin University in China, 1 each from Hong Kong University of Science and Technology and National Taiwan University, and 3 returnees from the United States.
In terms of cumulative tenure, there are 9 fund managers who have served for more than 10 years, 11 fund managers who have served for 5-10 years, and 10 fund managers who have served for less than 5 years, showing a relatively balanced structure of old, middle and young people. Among them, an important reason is that most of the leaders in charge of currency, bond, and QDII funds are "old birds" with rich experience in the industry. The fund managers in charge of hybrid and index funds are relatively young and belong to the typical new generation.
02. 3 types of equity products are piled up, and ChinaAMC CSI 5G Communication ETF has a profit of 1.59 billion
Among the top 5 fund companies in terms of net profit in 2023, among the 6 major types of funds, the three types of equity products such as equity, hybrid, and index funds are obviously clustered.
Among the equity funds, the most profitable products of each company are: E Fund CSI All-Index Securities Company Index (LOF) A, ChinaAMC CSI 5G Communication Theme ETF, CSI All-Index Securities Company ETF, GF CSI Media ETF, and ICBC BSE 50 Component Index A.
These funds are also index products and there are 3 ETFs. Among them, ChinaAMC CSI 5G Communication Theme ETF made a profit of 1.59 billion yuan that year, which is the most profitable equity fund among the five companies in 2023, with a net value increase of 16.2% that year and an asset scale of 7.455 billion yuan at the end of the year.
Hybrid funds have been the hardest hit area of the bear market in recent years, and the most profitable products among the top 5 companies are: E Fund Gold ETF, ChinaAMC Beijing Stock Exchange Select 2-Year Fixed Opening Mixed Initiation, CSBSE Selected 2-Year Fixed Opening Mixed Initiation, GF Beijing Stock Exchange Selected 2-Year Fixed Opening Mixed A, and ICBC Select Balanced Mixed.
Among them, 3 belong to the Beijing Stock Exchange Select Fund, which is obviously related to the overall trend of the Beijing Stock Exchange last year stronger than the Shanghai and Shenzhen markets.
Among the 5 products, the most popular is E Fund Gold ETF, which made a profit of 607 million that year. Gold belongs to the star of the global capital market since last year, and it is not surprising that the scale of this fund reached 4.871 billion yuan at the end of last year. The fund manager of this product is Bao Jie, a master's degree in economics from Renmin University, with a scale of 13.289 billion under management.
Objectively speaking, it is not fair to compare E Fund Gold ETF with other equity products, and it is not easy to compare the ICBC Select Balanced Blend that invests in the Shanghai and Shenzhen stock exchanges with the other 3 products that focus on the underlying products of the Beijing Stock Exchange.
Index funds were the hottest product in the market last year, but the performance was not as good as expected. The most profitable products among the top 5 companies are: E Fund SSE Science and Technology Innovation Board Growth ETF, ChinaAMC CSI 500 Index Smart Selection Enhanced A, Southern Big Data 300A, GF CSI All Index Information Technology ETF, and ICBC CSI Technology Leading ETF.
Among them, the most profitable is GF CSI All-Index Information Technology ETF, with a profit of 148 million that year, and fund manager Huo Huaming, a master of science, with a scale of 35.092 billion under management, and a cumulative tenure of more than 6 years, belonging to a typical Mesozoic era.
03. In QDII, ICBC India Fund is unique, and GF NASDAQ 100 ETF won 6.3 billion
In addition to gold-related investment targets, QDII, which is closely related to the international market, was the most profitable category in the market last year.
The most profitable QDII products among the top 5 fund companies are: E Fund NASDAQ-100 ETF Feeder (QDII-LOF) A USD Spot Exchange, ChinaAMC Global Equity USD Spot Exchange, CSOP S&P 500 ETF, GF NASDAQ 100 ETF, and ICBC India Fund USD.
These products all made a lot of money last year, with a profit of at least more than 100 million, of which GF Nasdaq 100 ETF made a profit of 6.3 billion that year. The scale of this fund was 16.74 billion at the end of last year, with a net value increase of 52.33%, and the fund manager Liu Jie, a bachelor of engineering, has a scale of 49.6 billion under management, has been in office for more than 10 years, and is also an old bird.
In addition, unlike general QDII products, which mostly track U.S. stocks, ICBC Credit Suisse has an Indian fund, which is unique in investing in overseas market products, and the investment income is also good. The scale of this fund was 1.521 billion at the end of last year, and the fund manager Liu Weilin is the only female doctor among the 30 most profitable fund managers.
According to public information, this female doctor has more than 9 years of experience in the industry, and currently has a scale of 9.503 billion under management, 17 products under management (A/C class is not combined), most of which are invested in overseas ETF products, and the best return during her tenure is 79.76%, of which ICBC Media Index E has just been listed.
04. 10 fixed income products earned 19.4 billion, and E Fund Easy Wealth Management currency A accounted for 4.5 billion
The fixed income investment of the TOP5 companies has done well, and the scale is not small, and the five most profitable bond and five currency funds will make a total profit of 19.4 billion yuan in 2023.
Among the bond funds, the most profitable products are: E Fund Yuxiang Return Bond A, China AMC Dingmao Bond A, Southern 1-3 Year CDB Bond A, GF Pure Bond A, and ICBC Pure Bond A.
These products, the minimum profit is more than 300 million, the most earned is E Fund Yuxiang Return Bond A, with a profit of 784 million that year, and a scale of 26.7 billion at the end of last year, fund manager Wang Xiaochen, a master of economics, has a management estimate of 78.7 billion yuan, and has served for more than 12 years.
The investment performance of the currency funds of the TOP5 companies is better, and the most profitable products have a profit of more than 2 billion, namely: E Fund Easy Wealth Management Currency A, Huaxia Fortune Treasure Currency A, Southern Cash Pass E, GF Savings Currency B, and ICBC Tianyi Express Currency.
This kind of XX treasure type products is theoretically a scale to win. For example, Yu'e Bao of Tianhong Fund had a scale of 702.253 billion at the end of last year and a profit of 12.265 billion that year. Among the currency funds of the above five companies, the most profitable is E Fund Easy Wealth Management Currency A, with a profit of 4.532 billion last year and a scale of 248.081 billion at the end of the year, and the fund manager is Shi Dayi and others. Shi Dayi is a master's degree in economics, with a tenure of more than 11 years and a scale of 489.294 billion under management.