Those who have a bad mentality really can't do the profession of fund manager.
When the market is good, it is all kinds of worship, and what support will come out. When the market is down, the net value of the fund fluctuates greatly, and all kinds of scolding begin to appear, and what ugly words come out.
Today Lao Ma combed a few fund managers who have been spat on more this year, all of whom are surnamed "Li" (Lao Ma is just a matter of fact), to see if the pot of net value fluctuations in the fund has to be carried by them.
1. SDIC UBS National Security - Li Xuan
Li Xuan, known as the "car brother" in the base field, began to manage this fund in 2015, the cumulative return is only 3%, honestly five years to do a bank regular return of more than 3%, no wonder our investors will have such a big resentment. The fund has risen -22.32% so far this year, almost at the bottom.
This is related to the performance of the entire military industry sector in the past five years, the military index rose by -4.38%, and the CSI 300 rose by 62.30% in the same period, not to mention the food and beverage industry, which has seen a sharp correction in the past quarter, and the increase is still 333.13%.
Such a poor performance is inseparable from the industry boom. However, as a fund manager, it is certainly difficult to blame, because like this fund, it is not an ordinary equity fund, but a partial stock hybrid fund, and the fund manager can completely adjust the position, at least it can reduce the position operation. However, Li Xuan did not, since the management has always maintained more than 90% of the position operation, the concentration of the top ten heavy stocks is about 80%, the style is too aggressive.
However, looking at the current point of the military industry, it is also a more reasonable valuation. Friends who hold military funds in their hands will persist and will get better in June.
2. Huaxia CSI 5G communication theme ETF - Li Jun
Huaxia Fund is now a leading ETF, and Li Jun is one of many index fund managers in Huaxia.
Huaxia CSI 5G This fund has risen -17.37% this year,
From this point alone to spray fund manager Li Jun, it is indeed wronged. Because he manages the index fund, the daily work is to track the index, the industry rises, the index will rise, the water will rise, and the index fund will also have a good return. However, if the industry is sluggish, the net value of index funds will fluctuate more. Just like 5G, it has already passed the industry outlet, even if the entire industry is an undervalued area, it is difficult to have a breakthrough.
This is the characteristic of index funds, which are not based on the operation of managers, but on the trends of the industry. For example, another fund managed by Li Jun, Huaxia CSI Biotechnology Theme ETF, a fund that was only established on March 4 this year, rose by 20.85% in two months, then can it be said that Li Jun's management ability is outstanding.
No, it's the industry's outlet problem, and the pharmaceutical industry has begun to rebound after a wave of adjustments after years. Not only Li Jun, like the actively managed funds in the pharmaceutical sector, Gülen's CEIBS Medical Health and Zhao Bei's ICBC Credit Suisse Frontier Medical also have good returns.
Therefore, for the index fund manager, do not spit on it, and he is also very helpless in the face of the industry correction.
3. Fuguo Science and Technology Innovation - Li Yuanbo
Li Yuanbo's controversy this year is really not small, several funds managed, Rich Country Science and Technology Innovation, Rich Country High-tech Industries and other net value fluctuations are about 15%, and did not adjust the position much, firm their stock selection style.
Honestly, there is really no need to complain about Li Yuanbo. First, Li Yuanbo's past annualized yield of 22%, which is a manifestation of ability, is not refute. Second, Li Yuanbo is not not adjusting the position, saying that he does not adjust the position is really not understanding him, Li Yuanbo is William Onnell's investment style, that is, to do the trend, look at his turnover rate to know.
There are many recent performance factors of the fund, the current performance of the entire technology sector is sluggish, the market is now a game of institutional group stocks and cyclical stocks, and technology will wait. I also have Li Yuanbo's management of the rich country high-tech industry, this year's performance is also decent, up -6.68%, this fund is more representative of Li Yuanbo's characteristics, the position is very scattered.
For Li Yuanbo is still more confident, especially for the technology sector, this is a long-term track, more should be to extend the investment cycle, do not measure the level of fund managers with a two-month performance, optimistic about an industry, recognize fund managers, we must give enough trust and patience.
4. Yinhua small and medium cap selection - Li Xiaoxing
To be honest, even Li Xiaoxing was lying on the gun, which was particularly unexpected. Li Xiaoxing has been awarded the Golden Bull Fund Manager for five consecutive years, and only three fund managers have been able to win this award for five consecutive years so far, in addition to Li Xiaoxing, there are two He Shuai in the dominant industry of BOCOM and Sun Wei of the Minsheng Plus Bank Strategy Selection. The Golden Bull Award is the highest honor in the industry and is recognized by professional institutions, so a fund manager will be spat on, and unlike Nuoan, who is not like a dish, it is also a big wrong.
Li Xiaoxing in fact, the overall style is still stable, "not greedy" is the concept he has been implementing, in recent years in the position increased in the weight of the technology sector, this year's performance is not ideal, but also related to the downturn in the technology sector. Similarly, for science and technology is optimistic for a long time, after all, the future is still fighting for technology.
There are other fund managers surnamed Li, like Li Dehui of the Shanghai Investment Morgan Fund and Li Jin of the Baoying Fund, who have also had some ups and downs in their performance this year, but on the whole they are still excellent and trustworthy fund managers.
Finally, to sum up, Yangji still has to have a good mentality, especially when the market is turbulent, it is even more important to calm down, do not always stare at the performance of two or three months, which is of little significance. Otherwise, even if it is the best fund, you can't hold it.