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
Text/Xuemei
According to the data of Tianxiang Investment Advisors, as of the end of the first quarter of this year, the total scale of products (including estimated funds, the same below) of 156 public fund companies reached 28.83 trillion yuan, an increase of more than 1.5 trillion yuan from the end of last year, an increase of about 5.6%.
In terms of product types, as of the end of the first quarter, the scale of equity funds increased by more than 260 billion yuan in the first quarter, an increase of about 9 percent, and the scale of bond funds increased by more than 330 billion yuan in the first quarter, an increase of about 3.8 percent. Overseas investment funds were 475.6 billion yuan, up by 14 percent, and commodity funds were 64.1 billion yuan, up by 24 percent, the fastest growing products in the first quarter.
Here, the company's research office has taken stock of the existing products of 156 public fund companies, from the top 10 in terms of scale under management, the top 10 stocks held, the top 10 active fund stocks in addition and decrease, and the top 10 active fund industry allocation (the following data, unless otherwise specified, are all from Tianxiang Investment Advisor)
01. 2024Q1 TOP10 fund companies in terms of non-stock scale
According to the data of Tianxiang Investment Advisors, after excluding money market funds, a total of 45 fund companies will have a scale of more than 100 billion yuan by the end of the first quarter of 2024. Specifically, E Fund is still the only company with a non-stock scale exceeding one trillion yuan, with about 1.14 trillion yuan at the end of the first quarter, an increase of more than 120 billion yuan from the end of last year. China Asset Management ranked second with 975 billion yuan, an increase of 98.1 billion yuan, and also approached the trillion mark. GF Fund and Harvest Fund ranked third and fourth, with non-goods exceeding 600 billion yuan. The non-stock scale of Fuguo, Bosera, Nanfang, and China Merchants Funds all exceeded 500 billion yuan, ranking fifth to eighth in turn. China Universal Fund's non-stock scale was 472.6 billion yuan, ranking ninth, and Penghua Fund's non-stock scale was 412.7 billion yuan, ranking tenth.
2024Q1 TOP10 non-stock scale of fund companies: 100 million yuan
02. 2024Q1 TOP10 fund company equity (including QDII) scale
From the perspective of the scale of equity funds (including QDII), as of the end of the first quarter of 2024, the top 10 fund companies have equity funds of more than 180 billion yuan. Among them, E Fund ranked first with 747.5 billion yuan, and China Asset Management ranked second with 688.8 billion yuan. GF Fund, which ranked third, had an equity scale of 367.3 billion yuan, and Huatai Berry and Harvest Fund ranked fourth and fifth, with an equity scale of 315.6 billion yuan and 311.6 billion yuan. Southern, Wells Fargo and China Universal ranked sixth, seventh and eighth, with equity of 295.1 billion, 286.1 billion and 242.3 billion respectively, while Invesco Great Wall and China Europe Fund ranked ninth and tenth, with equity of 188.8 billion and 186.7 billion yuan respectively.
2024Q1 TOP10 fund company equity (including QDII) units: 100 million yuan
03、2024Q1基金持仓股票TOP10
According to the data, as of the end of the first quarter of 2024, Kweichow Moutai and CATL have been the first and second largest heavy stocks among 156 fund companies, followed by Wuliangye, Zijin Mining, and Luzhou Laojiao. The stocks ranked sixth to tenth are: Hengrui Pharmaceutical, Midea Group, China Merchants Bank, Mindray Medical, and Shanxi Fenjiu. Among them, Zijin Mining, Midea Group, and China Merchants Bank entered the top 10, and Wuliangye, Luzhou Laojiao, Hengrui Pharmaceutical, Mindray Medical, and Shanxi Fenjiu also remained in the top 10. In addition, WuXi AppTec, Tencent Holdings, and SMIC exited the top 10 heavy stocks.
2024Q1基金持仓股票TOP10
Data source: Fund 1 quarterly report
04、2024Q1基金增持股票TOP10
According to the data of Tianxiang Investment Advisors, among the 5,046 stocks that actively invest in the first quarter of 2024, the top 10 stocks are: CATL, Zijin Mining, Midea Group, China Molybdenum, North Huachuang, Zhongji Innolight, CNOOC, Sungrow, Haier Smart Home, and Shanghai Electric Co., Ltd. According to the China Merchants Securities report, in the first quarter, the overall allocation ratio of the fund to TMT, cyclical and midstream manufacturing was relatively high, and the cyclical, Hong Kong stocks and midstream manufacturing were increased by most companies, and the pharmaceutical sector was significantly reduced.
05、2024Q1基金减持股票TOP10
According to the data of Tianxiang Investment Advisors, among the 5,046 stocks that actively invest in stock-biased funds in the first quarter of 2024, the top 10 stocks are: WuXi AppTec, Kweichow Moutai, Luxshare Precision, WuXi Biologics, Sanhua Intelligent Control, Zhifei Biotechnology, Baoxin Software, Hikvision, Aier Ophthalmology, and Zhuosheng Micro. Among them, WuXi AppTec and WuXi Biologics belong to the "WuXi system", which were the hardest hit by the stock price decline in the first quarter, and Aier Ophthalmology was also reduced by a number of funds.
06. 2024Q1 TOP10 fund company industry allocation
CICC pointed out that in the first quarter of 2024, the stock position of active equity funds decreased from 88.2% in the fourth quarter of last year to 87.7%, the position of mixed equity funds decreased slightly from 87.9% to 87.4%, and the stock position of flexible allocation funds decreased from 76% to 75.5%, and the overall level is still at a historical high.
From the perspective of the heavy holdings of active stock-biased funds, the main board has increased its position, the Science and Technology Innovation Board and the Growth Enterprise Market have reduced their positions, the high dividend and resource stocks have increased their positions, and the growth stocks have reduced their positions. Structurally, high-dividend and resource stocks became the main trading line in the last quarter, and the proportion of institutional allocation increased, while the position of growth industries such as TMT and pharmaceuticals fell sharply, among which high-dividend utilities, home appliances, telecommunications and banking industries have increased their positions, and non-ferrous metals, petroleum and petrochemical and other resource stocks have also increased their positions.
2024Q1 fund industry allocation TOP10
Source: CICC