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To choose a fund, is it okay to choose a fund manager? Is the fund company important?
This question is like considering whether it is important to choose a school or a mentor when taking the postgraduate entrance examination.
Of course it's all important!
There is no doubt that outstanding fund managers have excellent investment decision-making ability, but asset management is an industry with economies of scale and professional division of labor, and the team of researchers is responsible for fundamental research, field research and high-frequency tracking; fund managers are responsible for maintaining the combination of account requirements and market environment; the trading team is responsible for completing fund managers' buying or selling according to daily market conditions. These three aspects cooperate with each other to determine the performance of a fund.
In addition, powerful asset management companies can also enjoy the seller's professional research services, the first time to provide a variety of market information, trading platforms and trading tools. If the fund manager is a brave general, then the fund company is an empire with strong military strength, and the general without soldiers can not win the battle.
Only the combination of excellent fund managers and excellent fund management platforms will have a better chance to create good products that are recognized by both the market and investors.
The following editor will tell you how good the asset management company behind the Fortune Elephant Wealth focus Fund is this month.
Financial giant: Morgan Stanley
The famous Morgan Stanley is a well-deserved international financial giant.The company once wrote in an advertisement that "if God wants financing, he also wants to find Morgan Stanley." his position in the capital market is self-evident.。
As of the first half of 2020, the company has assets under management of US $2.7 trillion, has about 60, 000 employees worldwide, has more than 1200 offices in 41 countries around the world, and is dedicated to providing services to enterprises, government agencies, institutions and individual investors. it is undoubtedly the world's top investment bank.
The development of the company has not stopped the pace of progress, constantly refreshing its own legendary record. According to the latest official results for the third quarter of 2020, the company's performance exceeded market expectations, and its profit reached the second highest level in history.The company's total revenue reached US $11.657 billion, an increase of 16% over the same period last year, far exceeding the market expectation of US $10.64 billion. The net profit attributable to the company was US $2.717 billion, up 25% from last year.
The company's three core businesses, including Institutional Securities, Wealth Management and Investment Management, have all exceeded expectations. In recent years, the company has set the goal of wealth management transformation, and the IT budget has also focused on wealth management business, with net revenue of $1.056 billion, an increase of 38 per cent year-on-year. Asset management (AUM) reached $715 billion, up 41% from $507 billion in the same period last year, and the development is unstoppable.
Morgan Stanley, who comes from a good background, has always taken advantage of his head to maintain a weak position in the field of investment. With its outstanding research strategy, converging team, diversified products around the world, and always demanding its attitude with the highest industry standards and ethics, the newly developed wealth management business has grown at a rate of 5.6% since 2013, much higher than the market leader Bank of America Merrill Lynch's annual growth rate of 3.8% over the same period, making it another stable source of income.
The largest asset management company in the world: Blackrock
Blackrock (BlackRock) is one of the largest asset management groups in the world, founded in 1988, formerly known as the financial asset management department of Blackstone Group Inc Group, independent in 1992, headquartered in New York, USA.
Under the trend of increasing overall concentration of the global asset management industryRelying on the huge scale of asset management, attractive lower rates and excellent cost control, the company has achieved rapid growth under strong economies of scale (AUM/ revenue / profit CAGR 21% CAGR 20% Unix 24%), ranking first in the global asset management industry.
At present, Blackrock provides asset management services to many large enterprises, pensions, charitable funds, public institutions and millions of individual investors around the world. His products are invested in stocks, fixed income investments, cash, real estate, etc., with multiple investment strategies.
Although Blackrock has reached a certain height in the industry, he still believes in the belief of "customer demand first" for customers; for investment, he always attaches importance to risk management in order to achieve the best balance between risks and opportunities.
The company's Q3 financial report as of September 30 shows that itsTotal asset management reached $7.8 trillion, up 12% from a year earlier, and total revenue was $4.369 billion, up 18% from a year earlier. The company's quarterly net income rose 22% to $1.364 billion, both exceeding market expectations.
Hui Tianfu: the legendary King of active Investment
Huitianfu Fund Management Co., Ltd. ("Huitianfu Fund") was established in February 2005. by the end of the first quarter of 2020, the scale of asset management exceeded 800 billion yuan, and the scale of public asset management (excluding the base of goods and short-term financial debt) was 308.871 billion yuan.
The Huitianfu Fund has branches all over the country, and in order to actively promote the distribution of overseas assets, a wholly-owned subsidiary Huitianfu property Management (Hong Kong) Co., Ltd. ("Huidianfu Hong Kong") has been set up.
Huitianfu Hong Kong, a subsidiary, was established in November 2009 and is one of the first overseas subsidiaries of domestic fund management companies to set up in Hong Kong.
Continuing the parent company's "firm belief in long-term investment", Huidianfu Hong Kong focuses on investment and research, has a high-quality investment research team, and realizes the working mode of "vertical integration between the two places" with the headquarters investment and research team, ensuring that the investment concept can be inherited in one continuous line. take in-depth enterprise fundamental analysis as a foothold, select high-quality securities, grasp the context of the market, and make medium-and long-term investment layout. In order to obtain a higher long-term investment return of sustained and steady growth.
At present, it is mainly focused on fixed income and equity products, is a fund company focusing on active management ability, with excellent investment performance, and has been awarded the best offshore equity asset management company in China for two years in a row.
Yi Fangda: the scale of non-monetary financial management fund is the first, it has been rooted in Hong Kong for more than 10 years, and its international business continues to move forward.
Yi Fangda Fund, once the largest fund company in China, was established in 2001 and has always focused on asset management business. The company's active equity funds and bond funds are in the forefront of the domestic fund industry, significantly beating the stock and debt market benchmark index, with excellent performance.
At present, the total asset management scale of the company is more than 1.3 trillion yuan, among which the scale of non-monetary non-short-term financial public offering fund ranks first in the industry.
It is precisely because of the excellent performance that it has been recognized by the majority of investors, and the company's asset scale has been continuously expanded, in order to promote the development of offshore asset management business.
Established in 2008, eFonda Asset Management (Hong Kong) Limited ("eFonda Hong Kong") has a number of public, private and ETF products in Hong Kong, Europe and the United States to provide global investors with two-way and cross-border asset management services, including equity, fixed income and alternative investments.
At present, the Yifangda Hong Kong international investment team has about 40 investment researchers, including not only more than a dozen investment managers who have been in the Greater China market for many years, but also investment managers from major emerging markets such as Brazil and India. It is one of the few Chinese asset managers to hire fund managers from overseas markets.
By replicating the successful experience of the Effonda Fund and sharing rich resources, Yifangda Hong Kong has been widely recognized by the market, its asset management has exceeded 60 billion yuan, and its investment business has also won numerous industry awards.
Since 2012, a number of public offering funds owned by Yi Fonda in Hong Kong have won Morningstar five Star rating and have won awards from Lipper, AsianInvestor, Benchmark, The Asset and other authoritative organizations. Since 2019, the company has also won the following awards. Among them, the "Outstanding Fund Business Asset Management Business Award" issued by Xincheng Financial and Economic Taiwan in June 2019, the company is the only fund company that has won the award, and has won the award for eight consecutive years.
(source: company website)
Stability comes first, and the investment experience of the "old ten" rich country funds
China's public fund industry began in 1998, and the following year, Wells Fargo Fund Management Co., Ltd. was established in Beijing. It is one of the first ten public fund management companies in China, and the industry status is self-evident.
In 2012, Wells Fargo set up a wholly-owned subsidiary in Hong Kong, Wells Fargo Asset Management (Hong Kong) Co., Ltd., to serve as a bridge between mainland China and international capital markets, providing more comprehensive investment solutions and services for individual and institutional investors.
As of June 30, 2020, the assets of Wells Fargo Fund and its subsidiaries have exceeded 760 billion yuan, and the scale of public assets has reached 295.6 billion yuan (excluding money funds and short-term wealth management bond funds).
Wells Fargo funds focus on fixed income, active equity and quantitative investment. In the field of fixed income, Wells Fargo took the ability of credit analysis as the core competence of bond investment, and issued the first credit bond fund in the mainland market, becoming one of the first fund companies in the market to focus on credit debt investment. Its rich country Tianfeng was once the best debt base in history. In the field of equity investment, rich countries have formed a "bottom-up" growth investment-based style, focusing on long-term investment, pursuing long-term outstanding performance, and its funds outperform performance benchmarks for a long time.
Clear investment concept, rigorous investment attitude and sound investment style constitute the long-term core competitiveness of this asset management company. Wells Fargo funds have achieved outstanding performance in a number of investment areas, such as active stocks, bonds, balancing, indices and money markets, have been highly recognized by the market and favored by numerous awards.
Pioneer of Chinese Capital going to Sea: Dacheng International
Dacheng Fund is also the first batch of "old ten" fund management companies approved to be established in China, with rich experience in the industry, and its shareholders include Zhongtai Trust, Everbright Securities, China Galaxy and other well-known domestic financial companies.By the end of June 2020, the total assets under management exceeded 260 billion yuan, and the company managed public assets of 180 billion yuan. At the same time, it was entrusted by the National Council of Social Security funds to manage some social security funds and basic old-age insurance funds.
In order to lay out the offshore market Dacheng Fund funded the establishment of Dacheng International Asset Management Co., Ltd in 2009 to carry out international asset management services on its behalf and vigorously expand its international business. In October of the same year, Dacheng International obtained the relevant license issued by the Hong Kong Securities and Futures Commission and began to provide asset management business. Dacheng International is one of the first Chinese fund companies to set up international business platform subsidiaries in Hong Kong.
Thanks to the early promotion of international business, Dacheng International has the qualifications of QFII, RQFII and QFLP, and its strong license advantages have laid a solid foundation for universal asset managers and paved the way for a rich variety of products.
In the past ten years since its establishment, Dacheng International has given full play to its Chinese background advantages, actively built the brands of "overseas Investment Pioneer" and "Global China concept Investment expert", and actively developed and developed cross-border business and global investment business. become an international well-known investment management company.
Relying on its strong research strength and more than 20 years of accumulation in China's capital market, Dacheng International has an asset management team with good professionalism and rich experience, and is a leader in the field of domestic asset allocation.
At present, the company has gathered six major investment teams, such as equity, fixed income, quantitative investment, commodity futures, overseas investment and asset allocation.
First source: hundreds of billions of capital management, potential investment sniper first source investment
First Source Investment (First Sentier Investors), formerly known as Colonial First State Global Asset Management (CFSGAM), CFSGAM is the exclusive division of the asset management international business of Commonwealth Bank of Australia and is one of the largest investment institutions in Australia. It was later acquired from CFSGAM by Mitsubishi UFJ Trust Bank and renamed first Source Investment.
As of September 30, 2020, Capital Investment Management has a total value of approximately $157 billion and has 17 independent business teams involved in equities, fixed income, listed direct infrastructure and diversified assets, including Stewart Investors, a pioneer in emerging market equities and sustainable investments, and FSSA Investment Managers, a leading emerging market equity team in Asia and the world.
On the road to Nuggets Asia, the company has won countless awards, and its first Source Asia Equity Excellence Fund has performed very well, winning a five-year, five-year and ten-year Morningstar rating Grand Slam, which truly focuses on value and growth. Excellent capital management ability to take advantage of the wind high growth track, naturally obtained a generous return, but also confirmed the company's excellent investment logic.
Summary
Reliable fund companies are an indispensable part of an excellent fund. You must keep your eyes open before investing. Only fund companies with strong strength and excellent ability can better protect their own interests.
Edit / Wendy
Disclaimer
Risk and disclaimer: this document is not and should not be regarded as the basis for soliciting, soliciting, inviting, recommending the sale of any investment products or investment decisions, nor should it be interpreted as professional advice. Those who read this document or before making any investment decision should fully understand the risks and the characteristics and consequences of the relevant laws, taxes and accounting, and decide whether the investment is in line with their financial position and investment objectives according to their own circumstances, and whether it can withstand the relevant risks, and should seek appropriate professional advice if necessary.
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