This article is from the WeChat account “Xingzheng Global Fund”
Recently, Xingquan Hexing's two-year closed operation hybrid fund (LOF) is about to be issued, but some investors may have questions: Starting in July of this year, the Shanghai Composite Index has been fluctuating around 3,400 points for nearly half a year. Is this a good time to invest in funds? In fact, if we go back to historical data, we can see that if we bought active equity funds under Xingzheng Global Fund three years ago, not only would we reap good returns, but some products have even reached new highs recently.
On December 22, 2017, the Shanghai Composite Index closed at 3,300 points. Over the next three years, the Shanghai Composite Index went up and down more than 10 times above 3,400 points. As of December 21, 2020, the Shanghai Composite Index had risen 3.65% in the past three years.
Data source: Wind, 2017/12/19-2020/12/21
Although the Shanghai Composite Index has not increased much in the past three years, active equity funds under Xingzheng Global Fund have received good returns. Among them, active equity funds that have been established for three years have an average yield of 82.02% in the past three years, with an average annualized return of 21.65%.
(Data source: Galaxy Securities, Xingzheng Global Fund, performance data as of 2020/12/18. Earnings and performance benchmarks of the 10 active equity funds under Xingzheng Global Fund since their establishment: complete performance and comparison benchmarks since the transformation of Xingquan Select Funds: 2017/9/6-2017/12/31 (22.23%/3.63%), 2018 (-18.58%/-19.20%), 2019 (62.42%/29.44%), and 2020/1/1-2020/6/30 (27.44%/2.09%). Complete performance and comparison benchmarks of Xingquan Asset Light Fund since its establishment: April 5, 2012 to December 31, 2012 (0.90%/2.90%), 2013 (38.45%/-6.35%), 2014 (37.58%/42.92%), 2015 (101.66%/7.36%), 2016 (-7.55%/-8.32%), 2017 (27.48%/16.42%), 2018 (-15.30%/-19.20%), 2019 (41.46%/ 29.44%), 2020/1/1-2020/6/30 (14.94%/2.09%). Xingquan Business Model Fund's complete performance and comparative benchmarks since its establishment: 2012/12/18-2012/12/31 (1.30%/5.32%), 2013 (2.96%/-6.35%), 2014 (45.64%/42.92%), 2015 (57.88%/7.36%), 2016 (-1.64%/-8.32%), 2017 (0.88%/16.73%), 2018 (-1.59%/-19.20%), 2019 (60.10%/60.10%/ 29.44%) 2020/1/1-2020/6/30 (27.08%/2.09%). Xingquan Trend Fund's complete performance and comparison benchmark for the past 10 years: 2010 (-2.77%/-3.78%), 2011 (-18.15%/-11.60%), 2012 (5.47%/5.62%), 2013 (8.00%/-1.76%), 2014 (36.41%/25.87%), 2015 (43.07%/7.67%), 2016 (-1.78%/-4.12%), 2017 (25.29%/9.60%), 2018 (-17.64) %/ -9.74%), 2019 (42.69%/19.53%), 2020/1/1-2020/6/30 (15.80%/2.41%) Xingquan Herun Fund's complete performance and comparative benchmarks since its establishment: 2010/4/22-2010/12/31 (8.44%/-2.42%), 2011 (-20.91%/-19.24%), 2012 (2.80%/6.90%), 2013 (32.44%/-6.35%), 2014 (38.33%/42.92%), 2015 (87.34%/7.36%), 2016 (-7.50%/-8.32%), 2017 (27.74%/) 16.73%), 2018 (-25.54%/-19.20%), 2019 (62.87%/29.44%), 2020/1/1-2020/6/30 (28.38%/2.10%). Xingquan Global Vision Fund's complete performance and comparison benchmark for the past 10 years: 2010 (3.97%/-8.12%), 2011 (-13.89%/-20.30%), 2012 (4.52%/6.65%), 2013 (18.26%/-3.88%), 2014 (21.44%/39.20%), 2015 (50.14%/7.82%), 2016 (-11.90%/-8.40%), 2017 (-0.74%/16.88%), 2018 (- 22.77%/-19.51%), 2019 (55.32%/29.21%), 2020/1/1-2020/6/30 (24.50%/1.64%). Xingquan Social Responsibility Fund's complete performance and comparative benchmark in the past ten years: 2010 (6.60%/-8.03%), 2011 (-25.49%/-20.16%), 2012 (11.49%/6.78%), 2013 (18.08%/-3.86%), 2014 (15.25%/39.55%), 2015 (68.18%/8.02%), 2016 (-7.38%/-8.32%), 2017 (41.26%/16.73%), 2018 (-) 32.49%/-19.20%), 2019 (44.33%/29.44%), 2020/1/1-2020/6/30 (24.98%/2.09%). Xingquan Organic Growth Fund's complete performance and comparative benchmark in the past ten years: 2010 (14.42%/-3.78%), 2011 (-19.76%/-11.60%), 2012 (1.38%/5.62%), 2013 (19.84%/-1.76%), 2014 (33.39%/25.87%), 2015 (59.13%/7.67%), 2016 (0.30%/-4.12%), 2017 (36.51%/9.60%), 2018 (-30.17%) /- 9.74%), 2019 (44.02%/19.53%), 2020/1/1-2020/6/30 (19.06%/2.41%). Xingquan Green Fund's complete performance and comparative benchmark since establishment: 2011/5/6-2011/12/31 (-9.90%/-19.55%), 2012 (1.44%/6.90%), 2013 (43.87%/-6.35%), 2014 (44.03%/42.92%), 2015 (28.26%/7.36%), 2016 (-9.61%/-8.32%), 2017 (4.30%/16.73%), 2018 (-22.06% /- 19.20%), 2019 (55.89%/29.44%), 2020/1/1-2020/6/30 (20.68%/2.09%). Xingxin Vision Fund's complete performance and comparison benchmarks since its establishment: 2015/7/1-2015/12/31 (3.40%/3.07%), 2016 (4.55%/5.90%), 2017 (20.77%/5.57%), 2018 (-18.60%/5.28%), 2019 (42.04%/5.01%), and 2020/1/1-2020/6/30 (11.63%/3.04%). The earnings and performance benchmark performance of the 10 active equity funds under Xingzheng Global Fund in the past three years: Xingquan Trend Investment Fund was founded on 2005/11/3; the net worth of the past three years increased by 70.75% in the past three years, the benchmark increase was 21.15%, and the annualized return in the past three years was 19.50%; the net value of Xingquan Global Vision Fund increased by 70.51% in the past three years, the benchmark increase was 23.98%, and the annualized income for the past three years was 19.45%; Xing Quan Social Responsibility Fund was established 2008/4/30 Net worth has increased by 44.02% in the past three years, with a benchmark increase of 24.77%; the annualized income for the past three years was 12.92%; Xingquan Organic Growth Fund's net worth increased 52.10% in the past three years, the benchmark increase was 21.67%, and the annualized income for the past three years was 14.99%; Xingquan Helun Fund was founded on 2010/4/22, net worth increased 109.90% in the past three years, the benchmark increase of 24.77%. The annualized income for the past three years was 28.01%; Xingquan Green Investment Fund was established 2011/5/6, nearly The three-year net worth increased by 85.13%, the benchmark increase of 27.03% for the same period, and the annualized income for the past three years was 22.77%; Xingquan Light Asset Fund's net worth increased by 64.56% in the past three years, the benchmark increase of 24.77% in the past three years, the annualized return for the past three years was 18.04%; the net value of Xingquan Business Model Fund increased by 157.21% in the past three years; the annualized income for the past three years was 36.97%; the date of establishment of Xing Xinxin Vision Fund was 2015/7/1, the past three years Net worth increased by 52.58%, with a benchmark increase of 15.11% for the same period, and the annualized income for the past three years; on 2017/9/6, Xingquan Select Fund's net worth increased 113.44% since the transformation, the benchmark rose 24.77% during the same period, and the annualized income since the transformation was 28.72%. Data source: Xing Zheng Global Fund, as of December 18, 2020. The data are all calculated based on net reinstatement costs, not considering redemption fees. The fund yield is the net worth growth rate of the reinstatement unit, and the average annualized return is an arithmetic average. (Historical data does not represent the future; fund investments need to be cautious.)
Among them, fund manager Chen Yu's historical performance was outstanding. As of December 18, 2020, the net value of the recovery unit of Xingquan Selected Fund reached a new high since the transformation (regardless of redemption fees, dividends are selected for reinvestment).
Data source: Xingzheng Global Fund, Galaxy Securities, 2017/9/6-2020/12/18
Xingquan selected a record high net worth, which is inseparable from the fund manager's professional investment skills: Fund manager Chen Yu has 13 years of investment and research experience, has a solid foundation of fundamental research experience, and has his own unique understanding and control over different styles such as cycle, value, and growth.
In investing, Chen Yu has his own unique investment framework: follow the trend, focus on growth, and control fluctuations. Chen Yu explained these twelve characters like this:
“The second point of the investment framework is to focus on growth. Unlike fixed income products, the stock market prices the future. This is my basic understanding of the stock market. When understanding the company's growth, we need to understand that the company's growth has external causes. The external causes are the times, policies, and industry soil in which it is located; internal factors are the management's values, strategy, and execution ability. Among the stock positions I have built, the bottom position type is a very sticky industry in terms of operation. External factors won't interfere much with these industries. I can concentrate on examining whether their management is excellent enough and whether they can seize industry opportunities. At the same time, I have very high long-term return requirements for the bottom of the bottom warehouse industry. I hope that if I buy it, I will never sell it. The bottom of the product net worth curve continues to rise is made up of these positions. For the phased enhancement of varieties, I will seize the segment where their profit growth rate is the fastest. For this breed, I will analyze the effects of external factors on them.”
“When it comes to controlling fluctuations, industry sentiment itself is a good risk control indicator. In addition to this, my rule for myself is that each industry's holding ratio should not exceed 15% of the stock position; it is best to hold no more than 7% of the stock position in a single stock. With positions scattered in this way, when black swans appear, the combination still has room for maneuver.”
Under this investment framework, fund manager Chen Yu uses a combination of top-down and bottom-up methods to flexibly allocate booming industries and carefully select high-quality individual stocks. As of December 18, 2020, the net worth of the Xingquan Select Fund managed by Chen Yu increased by 155.67% since the transformation. During the same period, the Xingquan Select Benchmark rose 28.11%, and the excess return was 128 percentage points.
Recently, Xingquan Hexing's two-year closed operation fund will soon be issued. The fund is to be managed by Ms. Chen Yu. The Fund can invest in Hong Kong stocks and has more diversified investment options (Note: the Fund is not required to invest in Hong Kong stocks). Moreover, the fund has a two-year closed period. During the closed period, fund managers can avoid liquidity pressure caused by subscription and redemption, focus more on the fund's medium- to long-term performance, and strive to create a better investment experience.
As the initial foundation of Xingzheng Global Fund in 2021, Xing Quan Hexing Two-Year Closed Operation Hybrid Fund (LOF) (163418) was officially launched on January 6, striving to seize the 2021 market opportunities with you.
