China Fund News reporter Li Shuchao
Recently, the Asset Management Association of China released the "Survey Report on the Investor Status of the National Public Fund Market (2022)" (hereinafter referred to as the "Report"), which discloses the big data of the investment of the mainland people, such as what type of funds the people tend to invest in, the time of fund holding, the number of investment products, how to choose the base, and the core needs of fund investment.
More than 60% of individual investors prefer active equity funds
From the perspective of investment varieties, the surveyed individual investors are more inclined to a mix of equity and partial stocks. The survey data shows that among the investment varieties of public funds, equity and hybrid funds are more prominent.
According to the data of the report, more than 60% of the surveyed individual investors (65.6%) chose ordinary equity funds (excluding index funds) as the main investment varieties of public funds, and 43.3% chose hybrid funds (partial stock hybrids). The selection ratios of other bond funds (excluding index funds), passive or enhanced index funds (excluding ETFs), and hybrid (balanced hybrid) were 29.9%, 27.7%, and 22.9%, respectively.
Another 22.4%, 18.7%, and 13.4% of investors chose ETFs, money market funds, and hybrid (partial debt hybrids); The proportion of investors who choose FOF funds, QDII funds, and other types of funds is less than 10%.
Industry insiders said that the rich risk-return spectrum of public funds allows investors to have more multi-level investment choices. From the perspective of fund investment varieties, active equity funds are still the most favored investment varieties for investors, which is related to the advantages of public funds in active stock selection, and the long-term good historical performance of some high-performing funds and star managers.
From the perspective of the number of public funds held, the number of public funds held by the surveyed individual investors decreased in an inverted triangle.
The survey data shows that the number of investors holding public funds is generally an inverted triangle, and the more public funds they hold, the smaller the proportion of investors. Nearly half of the investors (44.6%) said they held less than 5 funds, and 25.5% held "6-10 funds". Another 12.3%, 6.5% and 7% of investors choose to hold "11-15", "16-20" and "21 and above".
More than 60% of individual investors hold for more than 1 year
From the perspective of the average time of holding a single public fund, more than sixty percent of investors have held a public fund for more than one year.
According to the survey data, overall, individual investors with a holding period of 1 to 3 years for a single public fund account for the largest proportion, at 41.8%. The proportion of individual investors with an average holding time of 4-5 years and more than 6 years is 15.0% and 9.7%, respectively. The above investors who hold a single mutual fund for an average period of more than one year account for 66.5%.
Industry insiders said that compared with the data of two years ago, the latest survey data shows that the average time for individual investors to hold a single fund is longer, such as 66.5% of the time of holding for more than one year, an increase of 10 percentage points over the data of two years ago. The proportion of holdings held for less than 6 months and half a year to 1 year has decreased significantly, indicating that with more investor education, individual investors are more inclined to long-term investment, and long-term investment concepts have gradually become the mainstream of the market.
However, the person also mentioned that while ordinary investors extend the investment period, fund managers should do a good job in investment management to create a better holding experience for holders.
In the context of the extended holding time, the regular investment of funds has also attracted more and more attention from investors, and more than sixty percent of investors recognize the way of regular investment of funds.
The data shows that most of the individual investors surveyed have a positive attitude towards fund investment. 64.5% of the respondents believed that regular investment in funds "can diversify investment risks and is a worry-free and effort-saving investment method". 16.9% of investors believe that fund investment is "no different from general fund investment, with the rise and fall of the market", and only 13.6% of investors have a negative attitude, believing that "fund investment is not as good as general fund investment, and it is better to choose by yourself".
Considering multiple factors, I trust my own judgment more when investing in timing
What factors do individual investors consider when investing in funds?
According to the survey data, the main factors considered by individual investors are the performance of the fund itself, the comprehensive strength of the fund company, the ranking of fund managers and investment ability. The second is the stability of the product investment style, the fund investment strategy, the size of the fund company, etc. In addition, factors such as convenience of purchase, fund rates, etc., are also considered.
Industry insiders believe that from the survey results, individual investors invest in public funds based on multiple factors, the importance of fund performance, the stability of investment style, etc., indicating that with the popularization of our investor education, investors are becoming more and more mature and rational in fund investment.
In terms of investment timing, the surveyed individual investors are more confident in their own judgment.
When the surveyed individual investors invested in public funds, the investment behavior of others had little impact on their choice of investment timing, with the proportions of "strongly recommended by others" and "everyone around them buying funds" being 20.6% and 9.0%, respectively. The influence of personal judgment and actual demand on timing is relatively high, among which, the situation of "the market is falling, and there is an opportunity to buy the bottom" is the preferred purchase time, accounting for 43.0%; 39.0% said they wanted to keep their idle assets in value; 38.2% said they found that a fund was performing very well; The proportion of "the market is rising, optimistic about the market situation" is 35.0%.
About 60% of investors said they needed advisory services
In terms of asset allocation services provided by fund investment advisers, 20.6% of investors said that they "need it very much", and 39.9% of investors believed that "providing investment advice" was sufficient, and the total of the above two types of investors reached 60.5%. In addition, 21.6% of investors said that "it doesn't matter, you can invest on your own", and 8.8% of investors "are interested but don't know yet". Only 9.1% of investors explicitly said they "don't need" advisory services.
Industry insiders said that in recent years, the market has fluctuated greatly, and in the context of market adjustment, it is more difficult for ordinary investors to make good investments, so the demand for fund investment advisory business is also growing. However, due to the fact that the investment advisory business of mainland funds is still in the early stage of development, some investors do not understand it, and the long-term investment performance of some fund investment advisory portfolios also needs to be tested, from this perspective, the development of mainland fund investment advisory business is still a long way to go.
When asked about the reserve needs for investment, most investors said that pension reserves are the first choice.
Survey data show that when investors invest in public funds, pension reserves are their primary consideration of reserve needs, accounting for 56.6%. This was followed by the demand for wealth management reserves, accounting for 55.9%. The need for education reserves and the need for emergency reserves were also mentioned, accounting for 33.4 per cent and 26.9 per cent, respectively.
Editor: Captain
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