As a professional asset manager in the ever-changing capital market, Puyin AXA Fund strives to bring sustainable returns to its investors. In the first half of the company’s active equity fund average yield of 11.63%, in the scale of more than 100 billion fund companies ranked first.
Qi Wenjian, reporter of Investment Times
In the first half of 2021, A-share market shock adjustment, the industry rotation is rapid. Under this background, how does the public offering fund company perform? Which companies have delivered satisfactory “report cards”?
Recently, Punctuation Finance Research Institute, together with Investment Times, conducted a panoramic scan of the changes in China’s fund industry in the first half of the year, conducted statistics and research on the performance of all public funds in the first half of the year, and exclusively released the “2021 Fund High School Entrance Examination Outstanding Students List”.
Reporters noted that as a member of the 100 billion club, Puyin AXA Fund with professional investment and research management ability, its equity fund performance is good. According to Wind’s data, excluding new funds established during the year, the average return of its active equity fund in the first half of the year was 11.63%, ranking first among 45 fund companies with a scale of more than 100 billion yuan (measured at the end of the first quarter of 2021) containing such products.
Specifically, Wind data shows that as of June 30, PuYinAn PuYinAn sheng momentum, PuYinAn sheng sheng fund dividend selection, PuYinAn ShengRuiZhi featured A, PuYinAn fill A refined, sophisticated life, PuYinAn sheng strategic emerging industries, PuYinAn sheng consumption upgrade, PuYinAn shing new economic structure and A full PuYinAn medical health fund (share merger) 8 years yields rankings are in the same funds before 1/10.
Undoubtedly, the outstanding performance comes from the strong support of the investment and research team. In the past 14 years, PUYIN AXA Fund has always attached great importance to the cultivation and selection of talents. By adopting the mode of “bringing the old with the new”, PUYIN AXA Fund has formed the construction of echelon in line with its own development, and built an investment and research team of professionals from various fields, with an average working life of more than 8 years.
It is also worth mentioning that the investment and research team of AXA Fund, with the pursuit of high-probability events as the core investment philosophy, insists on controlling investment risks as the primary task in investment management, and strives to reduce the uncertainty of investment returns and improve the certainty of excess returns obtained by the investment and research team. “Realizing appropriate investment returns on the premise of controlling risks” has become the source of consolidation for the long-term and stable growth of the net value of the funds of SPA.
Strength interpretation of equity fund performance
Investment guru Charlie Munger once said, keep things simple and take things seriously. Puyin AXA Fund with the most simple faith and persistence, bearing a praiseworthy “fruit”.
Haitong Securities data shows that as of June 30, the active management ability of stock investment of AXA Fund in Pudong Yin ranks 32nd among 149 companies this year, ranking the top 1/4 of the industry, and the overall return rate of its equity funds is 12.92%. In the past two years, the overall return rate of equity fund is 105.22%, ranking 47th in the whole industry, ranking the top half of the industry. In the past three years, the overall yield is 110.44%, ranking the 41st, also ranking the top half of the industry.
Overall excellent performance at the same time, Puyin AXA Fund gathered many high – quality cattle – based. For example, the net worth of seven products, such as value growth, growth power, bonus selected, strategic emerging industry, consumption upgrade, health care and environmental protection new energy, all reached a record high in the first half of this year.
For example, under the management of Jiang Jialiang, director of the Research Department and general manager of the Balance Strategy Department, the fund has achieved good investment returns in all stages.
As of June 30, the net value of AXA New Economic Structure has grown 19.26 per cent this year, ranking 114th among 1,982 similar funds, according to Wind.
In addition to the short-term performance is bright, the long-term performance of the new economic structure of Puyin Ansheng is also commendable. Haitong Securities data show that as of June 30, the fund in the last one year, two years, three years, the net growth rate of the last five years were 65.82%, 177.12%, 179.97%, 129.15%, ranking in the forefront of the same category.
As the leader of the equity research team, Jiang Jialiang and his team focus on the professional research of core assets such as technology, consumption, medicine, manufacturing, cycle and so on. In terms of industry allocation and individual stock mining, Jiang Jialiang shows the professional level of selected track and individual stock. While prioritizing China’s core assets, it also pays attention to the balanced allocation among industries.
In addition, by the chief investment officer, equity investment director Wu Yong at the helm of the Puyin AXA exquisite life, Puyin AXA strategic emerging industry performance is also quite eye-opening.
With pu Yin an sheng exquisite life for example, as of June 30, this fund since this year, nearly a year, nearly three years, nearly five years of yield is 21.61%, 57.48%, 122.8%, 71.24% respectively, in the same kind of ranking is the first half.
“Investment Times” reporter noticed that the value, growth, balance, absolute return strategy of the four departments of Pudong Yin Axa Fund go hand in hand, and its absolute return strategy products are extraordinary products.
Take Pu Yin Sheng Sheng Shi Select A as an example, the fund in the absolute return strategy department general manager Chu Yanhui management, as of June 30, since this year, nearly one year, nearly three years, the rate of return in the past five years are 3%, 18.56%, 53.16%, 66.28% respectively.
Driven by the excellent performance of its funds, Puyin Ansheng has gradually formed A solid income + brand appeal. The Puyin Ansheng, jointly managed by FOF director Chen Shulliang and Yao Weiwei, established on June 22 this year, holds A/C steadily for one year and is favored by investors. The total initial offering size is 5.373 billion yuan, and the number of effective subscribing households is 27528. It became one of the few large hot style FOFs that exceeded 5 billion yuan in the same period.
“It is easier to know than to do”. The prediction of the market context behind this is derived from the accumulation of rich experience and the unique concept of product layout. With its rich experience in equity investment and research, Puyin AXA Fund has been looking for new layout directions in recent years, actively making efforts in equity, and actively filling gaps in industries according to market hot spots and demands.
“Investment Times” reporter noted that with the deepening of the investment concept of ESG, ESG theme fund has become the major fund companies competing for the layout of the product. In April this year, SPA CSI ESG120 Strategic ETF became one of the first ESG themed ETF funds approved in the whole market.
Feel the pulse of investment direction
In recent years, the A-share market is not A calm, and public offering fund companies with strength proved that “investing in stocks is better than buying funds.” For ordinary investors, the fund company that can bring long-term and stable investment income is rare.
How to grasp the future investment context in the face of A-share market shocks? Which sectors and industries offer more outstanding investment opportunities?
In this regard, Jiang Jialiang believes that the global economy is recovering steadily, domestic liquidity is loose, the United States has also maintained a dovish attitude, so the market as a whole is still in a more favorable environment. Short-term market adjustment, is the early market consensus degree is relatively high direction and industry stocks rose too much caused by. At present, the A – share market is still in shock, there are still more structural opportunities in the market.
He said that from the perspective of market style, last year the market paid more attention to the company’s position in the industry and gave more premium to leading companies, while this year the market paid more attention to the growth of the company, and companies with high growth rate could get higher premium. “We will pay attention to such changes in market sentiment and strictly comb through the changes in enterprises’ own fundamentals, growth rates, valuations and other perspectives.”
Fund manager Chen Weifeng believes that the steady economic growth is slowing down, liquidity changes have yet to be seen, in this case, the market still presents a structural market, the boom to maintain a high or can be up some industries are still the focus of attention. For some stable growth of the industry, it is looking for valuation adjustment in place after the long-term layout of the timing.
In the view of fund manager Yang Fulin, there are still structural investment opportunities in the market, consumption is still an important track. The second half of the year will be more from the perspective of absolute income, control retreat, income protection is the core discipline, find a stage of rising sub plate for the differentiation of the line of attack.
Fulin Yang said that in the future, they will focus on several directions of the consumer sector. First, the track with low penetration rate in the process of consumption upgrading and strong certainty of future growth will be used to digest the valuation, such as big-screen consumption, pets, etc. Secondly, the annual unit is focused on the track where the performance growth rate can be upward, such as beer plate.
Jiang Jialiang further pointed out that in the medium term, consumption, medicine is a long-term focus on the direction of investment, but the team will pay attention to the internal different sub-industry boom and valuation changes; And new energy vehicles, semiconductors and other industry sectors with stronger fundamentals, is the current direction of more attention.