Reporter Li Yanna
In the first half of 2021, the stock market ended, and the performance of A-shares rose as a whole, but the differentiation between sectors was obvious. Wind data shows that the Shanghai Composite Index rose by 3.4% in the first half of the year, the ChiNext Index rose by 17.22% in the same period, ranking among the best, and the Kechuang 50 Index rose by 14%.
Guangdong private equity "mid-term" transcript released. According to the data of the private placement ranking network, the private placement performance data in the first half of the year in Guangdong was released, and the average return of 5112 funds that had been established for six months this year was 7.40%, which not only greatly outperformed the large-cap index in the same period, but also performed better than the 7.25% of the private placement in the whole country.
In addition, in the first half of the year, 3458 in Guangdong only obtained positive returns, and the proportion of private placements that made money accounted for nearly 70%. Judging from the private equity pioneer list sponsored by the Investment Express Stock Market Broadcast, 37 Guangdong private equity funds have doubled their incomes this year, with the highest return reaching 544.68%, contributed by the "Wanshuntong No. 6" under Wanshuntong Assets.
Equity Strategy Leads the Championship CTA is absent from the top three
As of the end of June 2021, judging from the 5112 products with performance records on the private placement ranking network, the average yield of private equity funds in Guangdong has been 7.40% this year, and the average return of 22597 private equity funds in the same period is 7.25%. In the first half of the year, the highest and lowest yield products came from the stock strategy, and the income range of a single fund was distributed in [544.68%, -85.92%], with a difference of 630.60% between the first and last returns.
Judging from the performance of different strategies of private equity funds in Guangdong from January to June, the average returns of the eight major strategies during the year all turned red, and the equity strategy returned to the championship with 8.23%; fixed income ranked second in the first half of the year after winning the championship last month; and the event-driven strategy ranked third with a return of 6.88%. The much-watched managed futures strategy performed mediocrely in the first half of the year, and the relative value strategy was at the bottom of the eight major strategies.
In the first half of the year, 3458 Guangdong private equity funds recorded positive returns, accounting for 67.64% of the private placements. From the perspective of high-yield private equity distribution, 37 private equity funds have doubled their returns during the year, equity strategies have doubled the proportion of funds up to 90%, and two compound strategies and one fixed income fund have also achieved good results in the first half of the year, which are "Qianhai Zhongrong Yintai Probability Space No. 1" of Zhongrong Yintai Capital, "Kangqi Assets Steady Progress No. 1" of Kangqi Assets, and "Guoen Xunmeng No. 109" of Qianhai Guoen Capital.
Judging from the top ten rankings of the private equity pioneer list (Greater Bay Area) sponsored by the Investment Express Stock Market Broadcast, the "Wanshuntong No. 6" of Wanshuntong Assets won the semi-annual championship with a return of 544.68%; the "Yuqingping Seagull Flying No. 1" managed by Yuqingping Asset Wang Huahui has gained 331.49% this year, which is the runner-up in Guangdong for half a year; and the "Hengbang No. 2" managed by Hengbang Mega Asset Ma Changhai as the fund manager has a return of 310.27% in the first half of the year, winning the title of runner-up.
34 funds doubled their returns, and the champion earned 544.68%
As of the end of June 2021, judging from the products with performance records of the private placement network, there are a total of 3769 equity strategy private equity funds established in Guangdong for six months, with an average return of 8.23%, continuing to lead the national regional average. Although the high-yield products of equity strategies are emerging, the investment management level of different private equity managers is also very different, and the income range of a single fund of equity strategies in the first half of the year is distributed in [544.68%, -54.57%], and the difference between the first and last returns is 599.25%.
Since the beginning of this year, 2470 equity strategic private equity funds in Guangdong have achieved positive returns, and the proportion of positive return private placements is 65.53%. From the perspective of the number of high-yield private placements in equity strategies, 365 funds have returned more than 30% this year, and 34 of them have doubled their returns.
WanShuntong Assets' "Wanshuntong No. 6" became the champion of the Private Equity Pioneer List (Greater Bay Area) Equity Strategy Ranking with a return of 544.68%. Wanshuntong Asset Management Currently has a management scale of 1 billion to 2 billion yuan, and the company has issued 11 funds since its filing with the Asset Management Association in 2015, of which one has been liquidated. According to public information, Wanshuntong Assets adheres to the concept of value investment, and is convinced that corporate value comes from the growth of the company and the improvement of profitability, and the corporate value determines the stock price. Through systematic analysis, listed companies with core competitiveness, perfect governance structure, excellent management quality, abundant operating cash flow, good performance and sustainable growth prospects are selected for investment, and long-term compound returns are pursued.
The "Yuqingping Seagull Flying No. 1" managed by Wang Huahui of Yuqingping Assets has gained 331.49% this year. The company was founded in 2017 and has issued four funds since its inception. The "Yuqingping Seagull Flying No. 1" and "Yuqingping Feixiang No. 1" that won the championship were both established for more than a year, and the revenue in the first half of the year doubled. According to the company information of Yuqingping Asset, fund manager Wang Huahui is a well-known practical private master, and his investment philosophy includes high-growth value investment, choosing the right time, and combining knowledge and action.
Hengbang Mega Assets' "Hengbang No. 2" won the third place in the list with a return of 310.27%. As a subjective long-head product, the fund is not only the third place in Guangdong, but also the sixth in the national strategy fund since this year. According to its self-report, Hengbang Mega Assets uses computer science as a supplement to combine big data, quantitative investment and active management, and the company is still a firm trend investor.
The top ten private equity products in the list of equity strategies this year also include Jianhong Times, Eagle Investment, Red Kunlun Fund, Shanglong Fund, Guangjin Capital, Cybona Capital, and Qianhai Guoen Capital.
Commodity bull market cooling CTA "out of favor"
After this year's Spring Festival and May Day Labor Day, two rounds of large commodity markets made CTA once a fragrant feast for the market, but the recent cooling of commodity market sentiment, managed futures strategy funds are also weaker, from the swarming of funds to once "out of favor". However, due to the low correlation between managed futures strategies and other large types of assets, in the long run, it still has a strong asset allocation value. In addition, from the perspective of historical data, the long-term return of the managed futures strategy is stable, the absolute return is considerable, and the drawdown is controllable.
As of the end of June 2021, the investment express reporter saw from the products with performance records of the private placement network that the number of managed futures strategy private equity funds in Guangdong was 336, with an average yield of 4.83% this year, from the previous champion seat to the fifth among the eight major strategies. 245 managed futures strategy products made money in the first six months, and the proportion of positive return private placement was 72.92%.
Judging from the private equity pioneer list (Greater Bay Area) managed futures strategy ranking sponsored by the Investment Express Stock Market Broadcast, Bopu Technology's product "Bopu Steady Increase No. 2" won the first half of the Guangdong region's management futures strategy earnings championship with a return of 65.24%. Founded in 2012, Bopu Technology adheres to the concept of "technology-driven, global market, social responsibility", and is committed to creating value with technology, and the company's current management scale is 2 billion to 5 billion. Yuan Hao, the founder of Bopu Technology, holds a Ph.D. in computer science from Purdue University, and other core team members have also graduated from MIT, Tsinghua, Peking University and other famous universities.
Black Gold Private Equity Investment's "Black Gold Endless No. 2" is the second place on the list, the product was established at the end of 2020, as of July 20, since its inception, the return is 52.05%, the maximum drawdown is 13.78%.
The "Tian'an Ma Xinrui No. 1 Quantification" managed by Wang Qing of Tian'an Ma Investment has gained 43.90% this year, which is the third place in the list. Founded in May 2015, Tian'an Ma Investment is a professional financial services institution adhering to the core concept of "Global Vision, China Opportunity". "Tian'an Ma Xinrui No. 1 Quantification" is Wang Qing's representative work, the data shows that Wang Qing uses statistical arbitrage and low latency strategies to allocate assets according to changes in the market, and pursue higher returns while controlling market risks.
Tian'anMa Investment, BeeQi Capital, Guohui Investment, Guhe Asset, Qianyuan Fund, Fuhe Asset, Kangteng Investment, and Duoying Wealth also entered the top ten list of managed futures strategies in the Private Equity Pioneer List (Greater Bay Area).