Editor's note: Recently, 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 comprehensively strengthen the investment and research capacity building of fund companies, enrich the types of investable assets and investment portfolios of public funds, and change from scale-oriented to return-oriented investors.
Since 2024 to June 25 (the same below), the net value of Oriental Alpha Zhaoyang Mixed A has fallen by more than 33% during the year, underperforming the performance benchmark by more than 30 percentage points, ranking 4149/4157 in the same category.
Analysis of holdings found that at the end of the first quarter, the fund's heavy stocks were mainly concentrated in the high-end manufacturing industry, mainly in the national defense and military industry, and the share prices of heavy stocks such as Kunheng Shunwei, Zhenlei Technology, Guoguang Electric, and 712 fell by more than 40% during the year.
Bread Finance Research found that Oriental Alpha Fund has a total of 8 products (the initial caliber of the fund), of which 7 have negative annual returns, with an average loss of more than 13%.
Oriental Alpha Zhaoyang Mixed A: Net value fell by more than 33% during the year
Founded on March 17, 2021, Oriental Alpha Zhaoyang Mixed A is a partial stock hybrid fund under Oriental Alpha Fund.
As of June 25, 2024, the fund's net value fell by 33.97% during the year, underperforming the performance benchmark by more than 30 percentage points, ranking 4149/4157 in the same category.
Since its establishment more than 3 years ago, the net unit value of the fund has fallen by 56.53%, ranking 1685/1705 in the same category, and investors' rights and interests have been deeply damaged.
Heavy stocks such as Kunheng Shunwei, Zhenlei Technology, and Guoguang Electric fell by more than 40% during the year
At the end of the first quarter of 2024, the proportion of Oriental Alpha Zhaoyang Mixed Equity Holdings to the fund's total assets was 92.01%, exceeding 90% for several consecutive quarters. The top 10 heavy stocks accounted for 72.92% of the fund's net asset value, with a high concentration of holdings.
Since the beginning of 2024 and June 25, many of the fund's top 10 heavy stocks have fallen by more than 40%. Among them, Kunheng Shunwei, Zhenlei Technology, Guoguang Electric, and 712 were among the top decliners, falling 48.93%, 44.92%, 42.93%, and 42.10% respectively during the year.
In the first quarter of 2024, the fund manager said: "We will continue to be optimistic about the rise of China's high-end manufacturing industry, represented by the military industry, and will continue to work hard in this field to continuously find investment opportunities for holders."
Oriental Alpha Fund: The overall performance is not good, and the investment and research ability is doubtful
According to Choice data, as of June 25, 2024, 7 of the 8 actively managed funds under the Oriental Alpha Fund had negative returns during the year.
Among them, Oriental Alpha Select Mix A was established in February 2018, and its net value fell by 31.61% during the year, and the cumulative decline of 29.05% since its establishment, ranking last in the same category.
In addition, the net value of Oriental Alpha Preferred Hybrid A, Oriental Alpha Medical and Health Hybrid A, Oriental Alpha Ruifeng Mixed Initiation A, and Oriental Alpha Industrial Pioneer Hybrid A has fallen by more than 10% since the beginning of this year.
Recently, the China Securities Regulatory Commission's "Opinions on Strengthening the Supervision of Securities Companies and Public Funds and Accelerating the Construction of First-class Investment Banks and Investment Institutions (Trial)" pointed out that the long-term return of investors should be enhanced. Urge industry institutions to strengthen the service concept, continue to optimize investor services, strictly implement the investor suitability system, improve the investor protection mechanism, effectively improve investors' sense of gain and satisfaction, and continue to maintain the public's trust and confidence in the industry.
With a large area of losses in the products of fund companies, some of which have fallen by more than 30% since their establishment, do managers, senior executives and the management of fund managers pay attention to improving investors' long-term returns? Is it aligned with the interests of investors?
(Article serial number: 1805874888930627584/EN.)
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