Observation | "Funds" have "fallen" on hot search for three consecutive days. Do you want to redeem it?
The Paper, reporter Ge Jia
Recently, the group stocks of institutions led by Kweichow Moutai (600519) have collectively slumped, and "funds" have been "falling" on Weibo hot searches for three consecutive days.
Weibo hot search list at 15:28 after the close on February 24
Many celebrity fund managers' products failed to strengthen against the market due to their heavy holdings in liquor stocks.
E Fund’s small and medium caps and E Fund’s Blue Chip Selection managed by Zhang Kun, the “Public Offering One Brother” are the representatives. The E Fund’s Blue Chip Selection plummeted 5.13% on February 24, tying the second largest one-day drop in the history of the fund’s establishment. , This week has a cumulative decline of 10.02% in 3 trading days; E Fund’s small and medium-sized cap has also experienced a cumulative decline of 9.1% in 3 trading days this week, and fell 4.5% on February 24.
It can be seen that the direction of heavy warehouse has not changed significantly.
In addition, there are also a number of star fund manager products that prefer consumer stocks, which also have a significant decline in their net worth. For example, Liu Yanchun of Invesco Great Wall, whose net worth of Invesco Great Wall Dingyi fell by 6.14% on February 22, was at the end of 2020. Among the top 10 heavyweight stocks in China, 4 liquor stocks are also included, as well as a number of consumer stocks.
However, the fund’s net value drop on February 24 has shrunk to 4.46%, which may indicate that the fund manager has adjusted its positions in time.
While the Penghua Growth Value A managed by star fund manager Wang Zonghe and Sino-Europe Medical Innovation A managed by Gülen, although their net worth fell by 6.25% and 5.62% on the 22nd, the single-day decline in net worth on the 24th has shrunk to 5.3% and 4.04%.
On the whole, compared with Monday's collective decline, many funds have significantly reduced their single-day declines on Wednesday, which may be the result of fund managers' quick adjustments.
Wind data shows that on February 22, a total of 465 active equity funds (including common stock type, partial stock mixed type and flexible allocation type funds, A\C shares are calculated separately), the net value of which fell by more than 5%, and some funds in a single day The decline even exceeded the index decline in the wine industry.
On February 24, there were only 115 active equity funds with a net value drop of more than 5%.
Even so, many new foundations who have recently entered the market expressed "very heartache" and the idea of redeeming the fund was born.
In the fund comment areas of major platforms, there are many irrational voices, and some investors have said that they "have cut the meat" and "run now."
Wind data shows that in the 4 trading days (February 18 to February 24) after the Spring Festival holiday, among the 302 stock ETFs that can be counted, the number of funds with reduced shares is equal to the number of funds with increased shares, with 116 Fund shares decreased, with 118 fund shares increasing, and 4 ETF shares decreasing by more than 100 million shares.
On February 24, among the 404 LOF funds that can be counted, 133 LOF funds have reduced their circulating shares.
It is worth noting that some fund companies have compiled statistics on Citizens’ investment and concluded that there is a high risk of chasing the rise and killing the fall.
Ms. G’s investment experience can be described as “heart-wrenching”. Around April 2019, as the market rose, Ms. G subscribed to the Yongying Consumer Theme A. However, the market began to adjust soon after the subscription, and Ms. G was around June The fund was liquidated.
Since then, the net value of the fund has risen all the way, and Ms. G re-entered the market after 8 months.
Around April 2020, Ms. G bought the Yongying Consumer Theme A again, and in the following 8 months, she bought the fund 18 times. At the same time, Ms. G was also constantly selling, and finally "speculation base" 622 Today, 25 operations gave her a gain of -2.6%.
Yongying Fund estimates that if Ms. G does not trade frequently, her rate of return will reach 138.85%.
CEIBS Fund also believes that investors are usually advised to calm down first when the market soars or plummets, because they often make wrong decisions in panic.
For example, think before choosing to cut meat: Are there better investment options after selling?
At this time, are you considering selling because it is affected by market changes, or because the fundamentals of the fund have deteriorated significantly or the fund manager has changed?
Does selling at this time go against the original intention of buying?
CEIBS Fund stated that if the fund held by itself has undergone major changes, which violates the original reason for buying, it is understandable to consider selling. However, if you choose to sell because of the recent market decline, it is recommended to consider again.
No one knows how the market will change in the future. Following the market may lead to frequent redemptions, chasing ups and downs. Firstly, it consumes energy, and secondly, the income may not earn much, but the fees will be a lot.
However, according to the news reporters of The Paper, there are also bank wealth managers who persuade investors to settle for peace.
The wealth management manager of a stock bank reminded in the circle of friends that customers who have held funds for a long time and have performed well can be reasonable based on their psychological expectations.
The proportion of various types of assets must be well controlled, and the proportion of fund allocation should not be too high.