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Editor's note: On April 4, 2024, the State Council issued the "Several Opinions on Strengthening Supervision and Risk Prevention to Promote the High-quality Development of the Capital Market", proposing to strengthen the supervision of securities and fund institutions and steadily reduce the comprehensive rate of the public fund industry. Comprehensively strengthen the investment and research capacity building of fund companies, enrich the types of investable assets and investment portfolios of public funds, and transform from scale-oriented to return-oriented for investors.
Xinhua Finance, Beijing, April 26 Xinhua Finance and Bread Finance have sorted out active equity products (including common stocks, partial stock hybrids, and flexible allocation) with low fees and stable medium and long-term performance in the public fund industry.
According to the data, the average management fee rate of active equity products is 1.14%. As of April 23 (the same below), more than 10 active equity funds (the initial caliber of the fund) have a management fee rate of 0.6% and below, and the return is positive in the past 1 year, more than 10% in the past 3 years, and more than 30% in the past 5 years, with relatively stable performance.
Figure 1: Active equity funds with low fees and solid mid- to long-term performance
Among them, E Fund, Penghua Fund, and Huatai Pinebridge Fund have more products that have entered the above-mentioned list of "low fees and stable medium and long-term performance", with 10, 3, and 2 products respectively.
E Fund: 10 products on the list, "Ruixuan Hybrid I" has returned more than 100% since its inception
E Fund's 10 active equity funds are on the list, including E Fund Ruixuan Hybrid, E Fund Ruixiang Hybrid, E Fund Ruijing Hybrid, E Fund Ruixing Hybrid, E Fund Ruizhi Hybrid, E Fund Xinli Hybrid, E Fund Xinxiang Hybrid, E Fund Ruifu Hybrid, E Fund Credit Suisse Hybrid, and E Fund Xinxin Hybrid.
Among them, E Fund Ruixuan Hybrid I was established in December 2015 with the investment objective of "pursuing the steady appreciation of fund assets under the premise of controlling risks", and the performance benchmark is "one-year RMB fixed deposit interest rate (after-tax) +2%".
As of April 23, the fund has stable medium and long-term performance, with a return of 7.57% in the past 1 year, 10.24% in the past 3 years, and 56.81% in the past 5 years, with a cumulative return of more than 100% since its inception, outperforming the performance benchmark by more than 70 percentage points.
Figure 2: The net value trend of E Fund Ruixuan Hybrid I since its establishment
According to the 2023 financial report, the fund's management fee rate is 0.6%, and a total of 1.9131 million yuan of management fees will be collected in 2023, and the net profit of the fund in the same period will be 10.2544 million yuan.
Penghua Fund: 3 products on the list, "Hongshang Mixed A" has returned more than 50% in the past 5 years
The three active equity products of Penghua Fund meet the above standards of low fees and stable medium and long-term performance, including Penghua Hongshang Hybrid, Penghua Hongan Hybrid, and Penghua Hongze Hybrid.
Among them, Penghua Hongshang Mixed A was established in October 2016 and has good medium and long-term performance. As of April 23, the fund has returned 10.41% in the past 1 year, ranking 14/2224 in the same category, 21.99% in the past 3 years, ranking 46/1941 in the same category, returning 55.75% in the past 5 years, ranking 322/1709 in the same category, and 7 years since its establishment, with a total return of more than 70%.
Figure 3: The net value trend of Penghua Hongshang Mixed A since its establishment
The investment objective of the fund is to "strictly select stocks, bonds and other investment targets with a high margin of safety under the framework of scientific and rigorous asset allocation, and strive to maintain and increase the value of fund assets".
The benchmark for performance comparison is "CSI Composite Bond Index Yield * 50% + CSI 300 Index Yield * 50%".
The first quarter report of 2024 shows that the fund continues to outperform the performance benchmark, with a cumulative outperformance of 47.66 percentage points from its inception to the end of the reporting period.
Huatai Berry Fund: 2 products on the list of "Dingli Mixed A" with a scale of over 10 billion
The management fee rate of Huatai Berry Fund's products Huatai Berry Dingli Mixed and Huatai Berry Rich Mixed is 0.6%, and the return is positive in the past 1 year, more than 10% in the past 3 years, and more than 30% in the past 5 years.
Huatai Bairui Dingli Mixed was established in December 2016, with a scale of about 12.901 billion yuan in the latest reporting period. The fund's management fee rate is 0.6%, and a total of 71 million yuan of management fees will be charged in 2023, and the net profit of the fund will be 242 million yuan in the same period.
As of April 23, the fund has returned 2.94% in the past 1 year, ranking 129/2224 in the same category, 23.12% in the last 3 years, ranking 39/1941 in the same category, returning 60.54% in the last 5 years, ranking 263/1709 in the same category, and has returned more than 80% in the past 7 years since its establishment.
Figure 4: The net value trend of Huatai Berry Dingli Mixed since its establishment
The investment objective of the fund is "to pursue investment returns that exceed the performance benchmark through active and flexible reasonable asset allocation under the premise of strictly controlling risks and maintaining asset liquidity, and strive for the sustained and steady appreciation of fund assets".
The benchmark for performance comparison is "CSI 300 Index Yield ×50%+ China Bond Composite Index Yield ×50%".
According to the report for the first quarter of 2024, the fund continued to outperform the performance benchmark, with a cumulative outperformance of 69.12 percentage points from its inception to the end of the reporting period.
[Read Financial Report] is a column jointly created by Xinhua Finance and Bread Finance with the interpretation of financial reports of listed companies as the main content. Xinhua Finance is a national financial information platform built by Xinhua News Agency, which comprehensively covers the global stock market, foreign exchange market and bond market, and provides authoritative, professional and comprehensive financial information services.
Editor: Hu Chenxi
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