Securities Times reporter Du Zhixin Fund annual report 2010 data show that pie Fund 95 brokerage commissions on stock transactions last year revenues of $ 6.24 billion, shenyin wanguo warehouse incomes retains the first. 10 company commissions than 40% day statistics show 2010 trading commissions top 10 firms trading commissions to $ 2.494 billion, 40% per cent of total trading commissions last year. Among them, Huaxia, harvest, big into 3 companies trading commissions top three, 3 companies trading commissions last year $ 422 million, $ 317 million, $ 262 million, respectively. Boshi, Invesco great wall, the South, easy trading commissions up to 4 fund companies more than $ 200 million. 2010 trading commissions at the $ 100 million Fund for more than $ 200 million the company has 19 branches, including GF, silver on Schroeder, international, China Fortune SGAM Fund companies such as Fortis and sea.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what in single fund of transactions Commission Shang see, Bo Shi emerging, and Shang cast Morgan domestic demand power (377,020, Fund 's), and in the mail core growth (590,002, Fund 's), and Huaxia dividend, and meeting added rich balanced growth (519,018, Fund 's) 5 only Fund of transactions Commission ranking Qian 5, 2010 5 only Fund of transactions Commission respectively for 82.8003 million Yuan, and 79.4473 million Yuan, and 72.237 million Yuan, and 67.0985 million Yuan, and 67.088 million Yuan. Shen Wan zhongxin guotai Junan leading adjustment made the Fund's stock market turbulence last year turnover decline modestly, securities trading access to the warehouse in corresponding decrease in income from the Fund. According to day companion Advisory Board statistics showed that stock trading fund totals of 7.51 trillion Yuan last year, 2009 funds total $ 8.1 trillion on stock transactions, 2010 than in 2009 decreased by 9%; 92 deals brokerage commissions of $ 6.24 billion in 2009, representing a decrease of $ 546 million, by 8%.
Although 2010 shocks reduce brokerages warehouse at revenue, rental brokerage seats but funds pay the Commission percentage in stock trading volume stayed about eight out of 10,000, has not decreased significantly.
According to statistics, last year total silo top 10 security companies receive Commission $ 3.028 billion, per cent of the total amount of commissions proportional to 48.5%. Statistics also show that total of 22 brokerages from the first half of the Fund share commissions on stock transactions of more than $ 100 million, which shenyin wanguo to 402 million worth of Commission income retains top warehouse at the top, CITIC Securities to 397 million Yuan Commission income ranking 2nd two brokerages rank from the end of last year has not changed. 4th guotai Junan securities out of the end of 2009 CICC, 3rd place, warehouse incomes up to $ 330 million. The ranking of China Merchants securities and securities have risen, investment securities from the 2009 up to 4th place, guosen securities from the 2009 up to the 2010, China Merchants securities and Securities Commission income of $ 295 million, $ 291 million, respectively.
Thursday, March 31, 2011
Fund annual reports the alignment a year earn $ 5.082 billion
Fears of high inflation, the future looks bright underestimate the value and high growth stocks ⊙ reporter Zhou Hong disclosed today by the Fund's 2010 annual report is completed. According to the relative 60 day fund management company, 656 funds data and statistics, profit for the year 2010 funds are only $ 5.082 billion compared with the sharp decline in 2009 over $ 900 billion worth of data. But given the 2010 market environment of the a-share markets tumbled 14%, 2010 Fund report cards are still good for "the gold content". Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what specific to fund type, 2010 stock type Fund annual appears 35.531 billion yuan of losses, mixed type Fund is implementation 23.861 billion yuan of profit, closed Fund also has 3.746 billion yuan of profit.
And benefit from the overall bond market up, bond funds, revenue in 2010, profits 5.877 billion yuan for the whole year, has 42.99% over the same period in 2009. From company level see, 60 home fund company in the has 36 home company last year made profit, which 16 home fund company profit over 1 billion, including Onari, and GF, and Ka real, and China commercial, and meeting added rich, and agricultural silver meeting acting, and sea rich pass, and Teda macro Lee, and rich, and East Wu, and in the silver, and letter Cheng, and Shang cast Morgan, and Huaxia, and industrial global (340,006, Fund 's) and Morgan Stanley China Xin.
Dacheng Fund most money, its 21 funds total $ 6.389 billion was made for the company, and industry-wide profits of only $ 5.082 billion last year. For future market trends, Fund overall concerns about higher inflation, growth prospects for the Fund does not determine, for the next hot spots there are great differences.
On the whole, support for "low valuation cycle unit" attack and continue to support the "transformation and growth stocks" of Defense. Wang yawei Huaxia Fund is clearly "cycle unit" advocates of the market. In his annual report of the Fund believes that 2011 should address market pricing errors due to excessive attention to policy, the use of reverse investment principles, avoidance and small-cap and high valuation of the pharmaceutical industry, food industry, such as variety. He also believes that "large blue chip risk release full, property stocks also has a bigger valuation of repair space.
"Harvest Fund, Boshi Fund also said good resources and derivative industry, including agriculture, energy, chemical industry, non-ferrous industry. In contrast, guangfa Fund made it clear that, in the case of tightening of liquidity is bullish cycle unit operation layout focused on pan-industry consumption and economic structural adjustment, medicine, food, textile and garment, commercial, TMT, building a steady growth stocks more respected by them.
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what specific to fund type, 2010 stock type Fund annual appears 35.531 billion yuan of losses, mixed type Fund is implementation 23.861 billion yuan of profit, closed Fund also has 3.746 billion yuan of profit.
And benefit from the overall bond market up, bond funds, revenue in 2010, profits 5.877 billion yuan for the whole year, has 42.99% over the same period in 2009. From company level see, 60 home fund company in the has 36 home company last year made profit, which 16 home fund company profit over 1 billion, including Onari, and GF, and Ka real, and China commercial, and meeting added rich, and agricultural silver meeting acting, and sea rich pass, and Teda macro Lee, and rich, and East Wu, and in the silver, and letter Cheng, and Shang cast Morgan, and Huaxia, and industrial global (340,006, Fund 's) and Morgan Stanley China Xin.
Dacheng Fund most money, its 21 funds total $ 6.389 billion was made for the company, and industry-wide profits of only $ 5.082 billion last year. For future market trends, Fund overall concerns about higher inflation, growth prospects for the Fund does not determine, for the next hot spots there are great differences.
On the whole, support for "low valuation cycle unit" attack and continue to support the "transformation and growth stocks" of Defense. Wang yawei Huaxia Fund is clearly "cycle unit" advocates of the market. In his annual report of the Fund believes that 2011 should address market pricing errors due to excessive attention to policy, the use of reverse investment principles, avoidance and small-cap and high valuation of the pharmaceutical industry, food industry, such as variety. He also believes that "large blue chip risk release full, property stocks also has a bigger valuation of repair space.
"Harvest Fund, Boshi Fund also said good resources and derivative industry, including agriculture, energy, chemical industry, non-ferrous industry. In contrast, guangfa Fund made it clear that, in the case of tightening of liquidity is bullish cycle unit operation layout focused on pan-industry consumption and economic structural adjustment, medicine, food, textile and garment, commercial, TMT, building a steady growth stocks more respected by them.
656 funds last year made 5.08 billion
Securities Times reporter Du Zhixin 60 656 funds owned by venture capital firms (A/B combined) conclusion of the 2010 annual report disclosed today. Statistics show that 656 funds for holders earn $ 5.08 billion last year.
36 fund companies last year invested profits, Dacheng Fund, guangfa Fund, China Merchants Fund top three, earned $ 6.39 billion, $ 4.55 billion and $ respectively. Day statistics, open mixed-type Fund annual money fund industry star last year, total profit of $ 23.86 billion. Bond funds followed, profit $ 5.88 billion. Qualified domestic institutional investor (QDII) profit of 3.8 billion yuan. Closed-end Fund, money Fund, the capital preservation fund earned $ 3.75 billion, $ 2.23 billion, $ 1.096 billion respectively. Open larger equity fund losses, total loss reached $ 35.53 billion. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what statistics display, last year fund company management fee income more 2009 has growth. 60 fund company management fee revenue of 30.219 billion yuan, an increase of 5.8%. 2.884 billion yuan China Fund management fees by far, than Second Harvest Fund allocated $ 1.18 billion.
Management fees of more than $ 1 billion fund company has 7 branches, namely China, harvest, Yi fang da and the southern, GF, Boshi and Dacheng Fund. Trailing commissions from the point of view, total 2010 funds pay trailing commissions $ 4.603 billion, to 15.92% per cent management fee.
More 2009 increased $ 440 million, the total increased by 0.66%. The holder's structure, represented by insurance institutional investors heavily overweight in the second half of last year on the unit funds and monetary funds, reduction of the bond fund.
Day companion Lab data shows that institutional investors hold shares of the Fund at the end of last year and currency Fund respectively, 26.73% and data 20.34%, respectively in the first half of last year. Market analysis, Huaxia, Boshi fund companies, such as fund managers believe that current structural problems more prominent a-share market, overestimate the value and small-cap companies, pharmaceutical, food industry and plates need to be avoided, and banking, insurance, real estate, cars, machinery, household appliances, railway and other blue chips worth looking forward to the future.
36 fund companies last year invested profits, Dacheng Fund, guangfa Fund, China Merchants Fund top three, earned $ 6.39 billion, $ 4.55 billion and $ respectively. Day statistics, open mixed-type Fund annual money fund industry star last year, total profit of $ 23.86 billion. Bond funds followed, profit $ 5.88 billion. Qualified domestic institutional investor (QDII) profit of 3.8 billion yuan. Closed-end Fund, money Fund, the capital preservation fund earned $ 3.75 billion, $ 2.23 billion, $ 1.096 billion respectively. Open larger equity fund losses, total loss reached $ 35.53 billion. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what statistics display, last year fund company management fee income more 2009 has growth. 60 fund company management fee revenue of 30.219 billion yuan, an increase of 5.8%. 2.884 billion yuan China Fund management fees by far, than Second Harvest Fund allocated $ 1.18 billion.
Management fees of more than $ 1 billion fund company has 7 branches, namely China, harvest, Yi fang da and the southern, GF, Boshi and Dacheng Fund. Trailing commissions from the point of view, total 2010 funds pay trailing commissions $ 4.603 billion, to 15.92% per cent management fee.
More 2009 increased $ 440 million, the total increased by 0.66%. The holder's structure, represented by insurance institutional investors heavily overweight in the second half of last year on the unit funds and monetary funds, reduction of the bond fund.
Day companion Lab data shows that institutional investors hold shares of the Fund at the end of last year and currency Fund respectively, 26.73% and data 20.34%, respectively in the first half of last year. Market analysis, Huaxia, Boshi fund companies, such as fund managers believe that current structural problems more prominent a-share market, overestimate the value and small-cap companies, pharmaceutical, food industry and plates need to be avoided, and banking, insurance, real estate, cars, machinery, household appliances, railway and other blue chips worth looking forward to the future.
Fund management fee income last year 30.2 billion
Securities Times reporter Yu Zijun 60 fund company 2010 annual report all on stage today.
Day companion Lab data and statistics show that 60 firms 2010 management fee revenues total 30.219 billion yuan, an increase of 5.8%, Super 60% fund management fee per cent growth of the company. management fee per cent 5.8% day companion Lab data statistics show, the 2010 60 fund management fee income in the total of $, average fund management fee income per family was $ 503 million. 39 fund company management fee per cent growth, total more than $ 60%. Morgan Stanley huaxin fund management fee income per cent, of which most, more than 247%, the Fund management fee income to $ 107 million company 2010 and 2009 this revenue of only $ 31 million. In addition, Xinhua and people's livelihood and silver, Chinese business 3 companies per cent management fee income over 100%, respectively, 139.13% and 116.16%. In the Fund management fee per cent growth of the company at the same time, there are also some of the sharp decline in fund management fees up, with a fund company in Shanghai as an example, the fund company almost by 2009 in 2010 management fee income.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what specific view, Huaxia fund company to 2.884 billion yuan of management fee ahead of, than 2nd name of Ka real Fund more out over 1 billion yuan, apart from Huaxia Fund and Ka real Fund zhiwai, also has 5 home fund company 2010 management fee income over 1 billion yuan, respectively for Yi fang da, and South, and GF, and Boshi and large into, management fee income respectively reached 1.637 billion yuan, and 1.454 billion yuan, and 1.348 billion yuan, and 1.335 billion yuan and 1.188 billion yuan.
From a single fund management fee income, annual management fees of over $ 300 million Fund last year with 8, where the value up to $ 413 million topped, guangfa Ju feng (270,005, Fund) and the Huaxia global then there will be broken down to $ 384 million and $ 353 million er、sanming. industrial and construction Bank managed revenue-leading in the Fund management fee per cent of the company at the same time, managed last year also appears a promotion. Day companion Lab data and statistics show that 60 firms last year paid to the Bank managed total 5.328 billion yuan, compared with the hosting fee of $ 2009, an increase of 5.71%. Managed more than $ 300 million of which only China Fund company of the Fund, up to $ 515 million from the custodian bank, industrial and commercial bank and China Construction Bank managed revenue ahead of other banks, 2 banks management fee revenue totals more than half of the total hosting fee. In addition, SDB (000001, unit) and China Merchants Bank management fee income per cent maximum, respectively and 33.98, postal savings banks achieve zero breakthrough last year, has managed 1 funds, managed revenues of $ 1 million.
Day companion Lab data and statistics show that 60 firms 2010 management fee revenues total 30.219 billion yuan, an increase of 5.8%, Super 60% fund management fee per cent growth of the company. management fee per cent 5.8% day companion Lab data statistics show, the 2010 60 fund management fee income in the total of $, average fund management fee income per family was $ 503 million. 39 fund company management fee per cent growth, total more than $ 60%. Morgan Stanley huaxin fund management fee income per cent, of which most, more than 247%, the Fund management fee income to $ 107 million company 2010 and 2009 this revenue of only $ 31 million. In addition, Xinhua and people's livelihood and silver, Chinese business 3 companies per cent management fee income over 100%, respectively, 139.13% and 116.16%. In the Fund management fee per cent growth of the company at the same time, there are also some of the sharp decline in fund management fees up, with a fund company in Shanghai as an example, the fund company almost by 2009 in 2010 management fee income.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what specific view, Huaxia fund company to 2.884 billion yuan of management fee ahead of, than 2nd name of Ka real Fund more out over 1 billion yuan, apart from Huaxia Fund and Ka real Fund zhiwai, also has 5 home fund company 2010 management fee income over 1 billion yuan, respectively for Yi fang da, and South, and GF, and Boshi and large into, management fee income respectively reached 1.637 billion yuan, and 1.454 billion yuan, and 1.348 billion yuan, and 1.335 billion yuan and 1.188 billion yuan.
From a single fund management fee income, annual management fees of over $ 300 million Fund last year with 8, where the value up to $ 413 million topped, guangfa Ju feng (270,005, Fund) and the Huaxia global then there will be broken down to $ 384 million and $ 353 million er、sanming. industrial and construction Bank managed revenue-leading in the Fund management fee per cent of the company at the same time, managed last year also appears a promotion. Day companion Lab data and statistics show that 60 firms last year paid to the Bank managed total 5.328 billion yuan, compared with the hosting fee of $ 2009, an increase of 5.71%. Managed more than $ 300 million of which only China Fund company of the Fund, up to $ 515 million from the custodian bank, industrial and commercial bank and China Construction Bank managed revenue ahead of other banks, 2 banks management fee revenue totals more than half of the total hosting fee. In addition, SDB (000001, unit) and China Merchants Bank management fee income per cent maximum, respectively and 33.98, postal savings banks achieve zero breakthrough last year, has managed 1 funds, managed revenues of $ 1 million.
Absolute control 27 units of the Fund to increase its stake in 581 stocks
Investment, such as Caesar, "black pepper" fund shares involved in 1662 accounted for 8 percent the total number of A shares
■ trainee newspaper reporter Sui Wenjing
60 mutual fund companies in the 656 Fund (A / B combined) annual report 2010, published in full before completion. Annual Fund-specific information on all positions to market concerns. But if you want to see some investment ideas come from, really depressed home.
"Securities Daily" Weekly According to WIND IT Fund statistics show that as of late last year, the Fund involved a total of 1,662 shares, accounting for all A shares in Shanghai and Shenzhen over the same period of 81.51%. Last year, the fund's holdings 1520, accounting for all A shares in Shanghai and Shenzhen over the same period of 81.41%. The end of the year in 2009, this ratio is 77.28%. Recommended Reading Forum closed investment firm based weekly summary
· investment value of the traditional closed ranks based betting ST Yawei Jian-Bo Sun brokerage banks are making money stock fund independent Christian Democratic Deficit QFII holdings doubled fine Lunjijinwei stability behind the * ST: two After throwing down limit state pharmaceutical Shuanghui billion IPO to be the absolute number of private equity funds ahead of potential control disk 27 stock holdings of 581 [and hearing that] when the fund manager needs to Han reported data compared with last year, a total of 581 stocks gain Fund Masukura, 816 stocks suffered varying degrees of reduction of the Fund, of which 1.626 billion of ICBC shares hit Fund to lighten up, lighten up the fund the largest number of shares of a stock. In addition, 264 shares to the Fund's stock selection budding pool.
"Securities Daily" Weekly According to WIND IT Fund statistics show that the proportion of funds holding more than 20% of the total float caps total of 326 shares, accounting for 19.61% of total holdings. Among them, the funds control more than 27 stocks 50% of the chips, Er-song acoustic (002,241, stock it) are 22 mutual fund companies to fund a total of 48 positions 7,021.24 million shares, total shares outstanding shares of 78.01 percent, the fund holds one of the heaviest stock chip stocks.
Fund shares involved in 1662
Ping (601,318, stock it) continued margin funds favorites
WIND IT data show that the end of 2010, the Fund held a total of 1662 stocks, compared with the 1520 mid-year stock increase of 9.34%. Heavily loaded with 790 stocks, compared with last year of Disclosure in 17.56% of the growth data.
"Securities Daily" Weekly Fund Position Funds from the perspective that the top ten positions in the stocks only funds are the Ping, Maotai (600,519, stock it), Wuliangye (000,858, stock it), Conch Cement, China Merchants Bank, China CPIC, Luan ring can, Suning Appliance (002024, stock it), Jiangxi Copper and Vanke A, 2010 end of the year were 297, 216, 214, 207, 202, 195, 191, 187, 185 and 181 fund positions.
In addition to these 10 stocks, the number of positions the Fund well over 100 of the 59 stocks, he incurs more than one hundred positions in stocks the Fund a total of 69, and last year reported data disclosed the number 53 position in the Fund shares in more than 100 30.19% in volume growth.
In addition, there are 153 stocks divided by a fund positions, which accounted for stock float caps fund holding more than 5% of the stock has five specific view are Bao Xin Technology (002,514, stock it), days Zhou culture, wood steel sheet, ST Tang Tao and Chang-red technology, the five stocks were ICBC Credit Suisse Enhanced Yield A, Bauhinia enhance earnings AB, the investment JP Morgan China Advantage (375,010, fund it), China Universal Equilibrium Growth ( 519018, fund it), and the livelihood of Canadian blue-chip brands of silver (690,001, fund it) position, float caps holding companies accounted for 8.3%, 7.79%, 7.29%, 5.68% and 5%.
Jiacang 581 stocks
Fund stock selection pool-coming 264
"Securities Daily" Weekly Fund organize data according to WIND IT found that compared with last year reported data, a total of 581 stocks from the Fund Masukura, accounting for 34.96%. Among them, the Fund semi-annual Masukura Vanke A 11.66 million shares, making the stock the most Masukura become a stock fund. In addition to Vanke A, the half-year there were more funds Masukura Golden Group, China's heavy industry, Poly Real Estate and Gezhouba, respectively, 427 million shares by the Fund Masukura, 3.96 million shares, 3.46 million shares and 3.39 million shares.
In contrast, the annual report data show that 816 stocks hit Fund semi-annual reduction of varying degrees, of which 1.626 billion of ICBC shares hit Fund to lighten up, compared with last year reported data is semi-annual maximum number of shares by the Fund to lighten up a stocks. In addition, lighten up more shares by the Fund also Minsheng Bank, Bank of Communications, GD Power, Shanghai Pudong Development Bank and China Merchants Bank, the half-year were 708 million shares by the Fund to lighten up, 7.03 million shares and 6.55 million shares, 5.4 million shares and 537 million shares.
It should be noted that the second half of last year, a total of 264 shares of the stock pool of new entrants to the Fund. 171 which has just been listed only for the second half of the new shares, accounting for 64.77%. To the number of shares of view, new blood stocks, funds holding more mainly the Agricultural Bank, China Everbright Bank, Ningbo Port, Hainan and other rubber and Zheng five coal stocks, the stocks were 1.869 billion shares held by the Fund , 7.27 million shares, 2.22 million shares, 8658.84 million and 5075.79 million shares, each listed company float caps for 12.19%, 18.16%, 11.08%, 20.03% and 36.26%.
27 stocks charged plate over 50%
48 funds were holding 78% of the Er-song acoustic
"Securities Daily" Weekly According to WIND IT Fund statistics show that the proportion of funds holding more than 20% of the total float caps total of 326 shares, accounting for 19.61% of total holdings. Among them, the funds control more than 27 stocks 50% of the chips, Er-song acoustic was 22 mutual fund companies to fund a total of 48 positions 7,021.24 million shares, total shares outstanding shares of 78.01 percent, is the most important fund holds the stock chip of a stock.
Specific view, Bo, when selected, and advantages of the two funds were held by Chinese stock 659.13 million and 638.81 million shares, market shares were 3.6 billion yuan and 349 million yuan, holding the proportion of tradable shares accounted for 7.32% and 7.1%. It is worth noting, Bo, when the annual reports of selected data, the only fund-coming position in the second half of Er-song acoustic, semi-annual growth of Chinese shares edge change data show that in the second half, the only fund holdings of Er-song acoustic 410.68 million shares.
Department 10 funds Cathay Sheng Bao Tuan * ST Engineering
Warburg Multi-strategy positions 5 ST Unit
"Securities Daily" Weekly Finishing Fund released the latest annual report of the 2010 fund data, fund emboldened, and a total of 41 of the 159 mutual fund companies took aim at 27 ST fund shares, which also includes 15 only "Phi Star" shares. It is worth noting that one of the 13 new ST shares is the Fund's stock selection in the second half the pool.
Among them, a large number of fund holdings are mainly working Sheng * ST, ST Tung Yuen, * ST South, * ST, Kinmen and Matsu, * ST Xin new, ST and * ST Changhe Huitong other seven stocks were 25 , 17, 14, 14, 13, 11 and 10 positions in the Fund, the total number of holdings were 4,761.59 million shares, 3,631.44 shares, 2,790.5 million shares, 1,566.26 shares, 3299.61 million, 973.73 million and 3,388.25 million shares, representing 4.45% of the company's float caps, 17.25%, 16.78%, 16.31%, 10.5%, 17.6%, 2.37% and 11.28%.
It is worth noting that the annual report data show that CPA fund companies involved in a total of 12 ST shares of the Fund, which funds 10 workers assemble at * ST Sheng is more than just fund its Baotuan ST shares the most significant position of a fund company.
"Securities Daily" Weekly Fund noted that in the 41 fund companies involved in ST stocks in China, and Fortune SGAM two mutual fund companies were 8 and 6 10 ST shares held by the Fund, is a favorite adventure The two funds. Which, by the helm of the Chinese market and Yawei Chinese policy positions of two funds involved in the four ST shares, of which only the second half of the 3 positions in shares of new entrants, and the first half of ST Changhe of the Chinese market positions and then last year we featured half of the stock holdings of 201.06 million shares. Specific view, the Chinese market positions were selected Songliao ST, ST Changhe, * ST * ST Mountain Zhang Jiao shares and 181.96 million shares, 400 shares, 450 million and 1,100.25 million shares, accounting for 0.81 shares float caps %, 0.98%, 2.42% and 2.41%; and selection of Chinese policy positions, respectively, * ST * ST Mountain Zhang Jiao shares and 200.82 million and 500.05 million shares, the proportion of shares float caps accounted for 1.08% and 1.09%.
From the perspective that a single fund, Fortune SGAM Global (340,006, fund it) mutual fund companies in the Fortune SGAM ST multi-strategy fund is involved in the largest shares of a fund, a total of five positions in the ST shares, including three "Phi Star" shares. It seems 5 ST shares were specific, ST long letter, ST Luoyang Glass, * ST dragons, * ST * ST South, and Pioneer.
"Securities Daily" Weekly Journal of the Fund Annual Report 2009 and 2010 mid-year report, and find that when the end of 2009, a total of 102 fund shares involved in the 25 ST; and June 30, 2010, a total of 143 shares of the Fund positions 30 ST . ST from the investment fund in terms of only a few, "special handling" shares of the Fund's influence on the rise.
■ trainee newspaper reporter Sui Wenjing
60 mutual fund companies in the 656 Fund (A / B combined) annual report 2010, published in full before completion. Annual Fund-specific information on all positions to market concerns. But if you want to see some investment ideas come from, really depressed home.
"Securities Daily" Weekly According to WIND IT Fund statistics show that as of late last year, the Fund involved a total of 1,662 shares, accounting for all A shares in Shanghai and Shenzhen over the same period of 81.51%. Last year, the fund's holdings 1520, accounting for all A shares in Shanghai and Shenzhen over the same period of 81.41%. The end of the year in 2009, this ratio is 77.28%. Recommended Reading Forum closed investment firm based weekly summary
· investment value of the traditional closed ranks based betting ST Yawei Jian-Bo Sun brokerage banks are making money stock fund independent Christian Democratic Deficit QFII holdings doubled fine Lunjijinwei stability behind the * ST: two After throwing down limit state pharmaceutical Shuanghui billion IPO to be the absolute number of private equity funds ahead of potential control disk 27 stock holdings of 581 [and hearing that] when the fund manager needs to Han reported data compared with last year, a total of 581 stocks gain Fund Masukura, 816 stocks suffered varying degrees of reduction of the Fund, of which 1.626 billion of ICBC shares hit Fund to lighten up, lighten up the fund the largest number of shares of a stock. In addition, 264 shares to the Fund's stock selection budding pool.
"Securities Daily" Weekly According to WIND IT Fund statistics show that the proportion of funds holding more than 20% of the total float caps total of 326 shares, accounting for 19.61% of total holdings. Among them, the funds control more than 27 stocks 50% of the chips, Er-song acoustic (002,241, stock it) are 22 mutual fund companies to fund a total of 48 positions 7,021.24 million shares, total shares outstanding shares of 78.01 percent, the fund holds one of the heaviest stock chip stocks.
Fund shares involved in 1662
Ping (601,318, stock it) continued margin funds favorites
WIND IT data show that the end of 2010, the Fund held a total of 1662 stocks, compared with the 1520 mid-year stock increase of 9.34%. Heavily loaded with 790 stocks, compared with last year of Disclosure in 17.56% of the growth data.
"Securities Daily" Weekly Fund Position Funds from the perspective that the top ten positions in the stocks only funds are the Ping, Maotai (600,519, stock it), Wuliangye (000,858, stock it), Conch Cement, China Merchants Bank, China CPIC, Luan ring can, Suning Appliance (002024, stock it), Jiangxi Copper and Vanke A, 2010 end of the year were 297, 216, 214, 207, 202, 195, 191, 187, 185 and 181 fund positions.
In addition to these 10 stocks, the number of positions the Fund well over 100 of the 59 stocks, he incurs more than one hundred positions in stocks the Fund a total of 69, and last year reported data disclosed the number 53 position in the Fund shares in more than 100 30.19% in volume growth.
In addition, there are 153 stocks divided by a fund positions, which accounted for stock float caps fund holding more than 5% of the stock has five specific view are Bao Xin Technology (002,514, stock it), days Zhou culture, wood steel sheet, ST Tang Tao and Chang-red technology, the five stocks were ICBC Credit Suisse Enhanced Yield A, Bauhinia enhance earnings AB, the investment JP Morgan China Advantage (375,010, fund it), China Universal Equilibrium Growth ( 519018, fund it), and the livelihood of Canadian blue-chip brands of silver (690,001, fund it) position, float caps holding companies accounted for 8.3%, 7.79%, 7.29%, 5.68% and 5%.
Jiacang 581 stocks
Fund stock selection pool-coming 264
"Securities Daily" Weekly Fund organize data according to WIND IT found that compared with last year reported data, a total of 581 stocks from the Fund Masukura, accounting for 34.96%. Among them, the Fund semi-annual Masukura Vanke A 11.66 million shares, making the stock the most Masukura become a stock fund. In addition to Vanke A, the half-year there were more funds Masukura Golden Group, China's heavy industry, Poly Real Estate and Gezhouba, respectively, 427 million shares by the Fund Masukura, 3.96 million shares, 3.46 million shares and 3.39 million shares.
In contrast, the annual report data show that 816 stocks hit Fund semi-annual reduction of varying degrees, of which 1.626 billion of ICBC shares hit Fund to lighten up, compared with last year reported data is semi-annual maximum number of shares by the Fund to lighten up a stocks. In addition, lighten up more shares by the Fund also Minsheng Bank, Bank of Communications, GD Power, Shanghai Pudong Development Bank and China Merchants Bank, the half-year were 708 million shares by the Fund to lighten up, 7.03 million shares and 6.55 million shares, 5.4 million shares and 537 million shares.
It should be noted that the second half of last year, a total of 264 shares of the stock pool of new entrants to the Fund. 171 which has just been listed only for the second half of the new shares, accounting for 64.77%. To the number of shares of view, new blood stocks, funds holding more mainly the Agricultural Bank, China Everbright Bank, Ningbo Port, Hainan and other rubber and Zheng five coal stocks, the stocks were 1.869 billion shares held by the Fund , 7.27 million shares, 2.22 million shares, 8658.84 million and 5075.79 million shares, each listed company float caps for 12.19%, 18.16%, 11.08%, 20.03% and 36.26%.
27 stocks charged plate over 50%
48 funds were holding 78% of the Er-song acoustic
"Securities Daily" Weekly According to WIND IT Fund statistics show that the proportion of funds holding more than 20% of the total float caps total of 326 shares, accounting for 19.61% of total holdings. Among them, the funds control more than 27 stocks 50% of the chips, Er-song acoustic was 22 mutual fund companies to fund a total of 48 positions 7,021.24 million shares, total shares outstanding shares of 78.01 percent, is the most important fund holds the stock chip of a stock.
Specific view, Bo, when selected, and advantages of the two funds were held by Chinese stock 659.13 million and 638.81 million shares, market shares were 3.6 billion yuan and 349 million yuan, holding the proportion of tradable shares accounted for 7.32% and 7.1%. It is worth noting, Bo, when the annual reports of selected data, the only fund-coming position in the second half of Er-song acoustic, semi-annual growth of Chinese shares edge change data show that in the second half, the only fund holdings of Er-song acoustic 410.68 million shares.
Department 10 funds Cathay Sheng Bao Tuan * ST Engineering
Warburg Multi-strategy positions 5 ST Unit
"Securities Daily" Weekly Finishing Fund released the latest annual report of the 2010 fund data, fund emboldened, and a total of 41 of the 159 mutual fund companies took aim at 27 ST fund shares, which also includes 15 only "Phi Star" shares. It is worth noting that one of the 13 new ST shares is the Fund's stock selection in the second half the pool.
Among them, a large number of fund holdings are mainly working Sheng * ST, ST Tung Yuen, * ST South, * ST, Kinmen and Matsu, * ST Xin new, ST and * ST Changhe Huitong other seven stocks were 25 , 17, 14, 14, 13, 11 and 10 positions in the Fund, the total number of holdings were 4,761.59 million shares, 3,631.44 shares, 2,790.5 million shares, 1,566.26 shares, 3299.61 million, 973.73 million and 3,388.25 million shares, representing 4.45% of the company's float caps, 17.25%, 16.78%, 16.31%, 10.5%, 17.6%, 2.37% and 11.28%.
It is worth noting that the annual report data show that CPA fund companies involved in a total of 12 ST shares of the Fund, which funds 10 workers assemble at * ST Sheng is more than just fund its Baotuan ST shares the most significant position of a fund company.
"Securities Daily" Weekly Fund noted that in the 41 fund companies involved in ST stocks in China, and Fortune SGAM two mutual fund companies were 8 and 6 10 ST shares held by the Fund, is a favorite adventure The two funds. Which, by the helm of the Chinese market and Yawei Chinese policy positions of two funds involved in the four ST shares, of which only the second half of the 3 positions in shares of new entrants, and the first half of ST Changhe of the Chinese market positions and then last year we featured half of the stock holdings of 201.06 million shares. Specific view, the Chinese market positions were selected Songliao ST, ST Changhe, * ST * ST Mountain Zhang Jiao shares and 181.96 million shares, 400 shares, 450 million and 1,100.25 million shares, accounting for 0.81 shares float caps %, 0.98%, 2.42% and 2.41%; and selection of Chinese policy positions, respectively, * ST * ST Mountain Zhang Jiao shares and 200.82 million and 500.05 million shares, the proportion of shares float caps accounted for 1.08% and 1.09%.
From the perspective that a single fund, Fortune SGAM Global (340,006, fund it) mutual fund companies in the Fortune SGAM ST multi-strategy fund is involved in the largest shares of a fund, a total of five positions in the ST shares, including three "Phi Star" shares. It seems 5 ST shares were specific, ST long letter, ST Luoyang Glass, * ST dragons, * ST * ST South, and Pioneer.
"Securities Daily" Weekly Journal of the Fund Annual Report 2009 and 2010 mid-year report, and find that when the end of 2009, a total of 102 fund shares involved in the 25 ST; and June 30, 2010, a total of 143 shares of the Fund positions 30 ST . ST from the investment fund in terms of only a few, "special handling" shares of the Fund's influence on the rise.
March 31 Fund dividends and trading tips
Soochow fund management company announced on its Fund participation in industrial and commercial bank electronic banking announcement to extend the Fund purchase rate offer.
Yinruixin fund management company limited announced on new era of increased securities company limited for its fund distribution agency announcements.
Huaan fund management company limited announced on participation of ICBC personal Internet Banking Fund purchase rate offer announcement.
Pu Yin AXA fund management company limited announced on its part Fund participation in ICBC personal Internet Banking Fund purchase rate offer announcement.
Manulife Teda fund management company limited announced on participation in industrial and commercial bank on-line transaction purchase rates favorable notice.
Galaxy funds management limited announce Galaxy silver money market fund recovery application-rich (including conversion into and periodic, fixed investment) announcements. China Fund management company limited announced on the participation of its fund announcement of ICBC Internet Banking Fund purchase rate offer.
Yinruixin fund management company limited announced on new era of increased securities company limited for its fund distribution agency announcements.
Huaan fund management company limited announced on participation of ICBC personal Internet Banking Fund purchase rate offer announcement.
Pu Yin AXA fund management company limited announced on its part Fund participation in ICBC personal Internet Banking Fund purchase rate offer announcement.
Manulife Teda fund management company limited announced on participation in industrial and commercial bank on-line transaction purchase rates favorable notice.
Galaxy funds management limited announce Galaxy silver money market fund recovery application-rich (including conversion into and periodic, fixed investment) announcements. China Fund management company limited announced on the participation of its fund announcement of ICBC Internet Banking Fund purchase rate offer.
Establishment of the first private equity partnership hedge fund
After Choi first private partnership hedge fund "Sea set" recently completed subscription was set up.
Hedge funds in accordance with the partnership the partnership by not more than 50 investment partners established a general partner and Manager of Shanghai Crystal-rich asset management centre.
Crystal-rich asset management, managing partner of the Centre in Shanghai, Wang Lin, General Manager and team lead in the first day of stock index futures listed on April 16, 2010 entry won is arbitrage first single.
The partnership managed hedge funds into the banks assets and third-party risk control mechanism, by the Securities and Futures provide brokerage services in East China Sea in East China Sea, use DTS Dragon soft information technology platform. "Sea-set parties" hedge fund investment strategies for market neutral, in stock index futures arbitrage as the main investment mode, the pursuit of low risk of absolute return.
Hedge funds in accordance with the partnership the partnership by not more than 50 investment partners established a general partner and Manager of Shanghai Crystal-rich asset management centre.
Crystal-rich asset management, managing partner of the Centre in Shanghai, Wang Lin, General Manager and team lead in the first day of stock index futures listed on April 16, 2010 entry won is arbitrage first single.
The partnership managed hedge funds into the banks assets and third-party risk control mechanism, by the Securities and Futures provide brokerage services in East China Sea in East China Sea, use DTS Dragon soft information technology platform. "Sea-set parties" hedge fund investment strategies for market neutral, in stock index futures arbitrage as the main investment mode, the pursuit of low risk of absolute return.
Reduced profits to the Fund in the previous year 0.56% growth rate of management fee revenues were 5.84%
Yesterday, 60 656 funds owned by venture capital firms 2010 annual report disclosure is complete, the companies that have produced "report card".
TX data has shown, the Fund totals $ 5.082 billion of profits last year, compared with $ per cent in 2009, only the equivalent of 0.56% of the profit from a year earlier. Types of view, equity funds last year was the most "sad reminder" of a type, $ 35.531 billion loss for the year 2010, mixed-type fund the 23.861 billion yuan profit, profit for the year $ 5.877 billion bond fund, has 42.99% over the same period in 2009. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what and fund management fee income is than 2009 over growth has 5.84%. 2010 fund managers received revenue from the management fees of 30.219 billion yuan, to pay the brokerage trading commissions to $ 6.24 billion, hosting fees paid to managed Bank 5.328 billion yuan. At the same time, increased proportion of customer maintenance costs as compared to 2009, by 0.66%.
Where the securities journal funds weekly observed, BOCOM 180 governance Fund ETF join customer maintenance charges maximum, total of 293.55%.
In 2010, put on large fund investors to retreat, the securities journal weekly based on wind data display of the Fund, 2010 institutional investors hold a share average of 640 million, 15.9% reduction over the previous year, and personal investment of the Fund holds a share average 2.444 billion in 2010, 22.82% reduction over the previous year. At the same time, Fund holdings, the securities journal weekly Fund WIND information data and statistics show 2010 Annual Fund total involvement in 1662 stocks, 81.51% per cent of all in Shanghai and Shenzhen a-share over the same period, 0.1% higher than in the middle of 2010, 4.23% higher than the end of 2009.
Compared with last year, China vanke was cartridge up to increase a stock of the Fund; and industrial and commercial bank is half a year by the Fund to reduce the maximum amount of a stock. Worth noting is that the guts of the Fund is growing. The securities journal funds weekly exclusive statistics, total 41 159 funds of the fund company's sight on the 27 ST unit, which includes the 15 "Grand Prix Star" shares. And when at the end of 2009, a total of 102 funds involved 25 ST unit which the guotai fund company, a total of 12 funds into ST shares, more 10 funds gathered in *ST Cheng Gong, is its only fund holding position ST unit one of the most notable venture capital firms.
Two of Huaxia and Warburg and Societe Generale's Fund company, there are 8 and 6 funds hold only 10 ST unit, is the most adventurous of the two fund companies. However, perhaps through changes in the first quarter of this year, holding a new change in the direction of the Fund. According to the wind data display, former unit base respectively the top three in the first quarter of this year is $ augmentation of the South industrial optimization and Peng hua, great wall brand value. Lung Yuan industry was in its last year in the South in the annual report made it clear that, through a year of adjustment, financial class units entered the security area, in particular the securities industry, ushered in the new third of the year, covered warrants, International Board, margin and transfer facilities continue to introduce innovations such as reform, prospects can be.
Great Wall brand optimization is relatively more optimistic about high-speed rail, cement and other industries. Penghua value advantage is even looking at the market share, especially cycle stocks. "At least we think that change the mode of economic growth and economic restructuring is an ongoing process, to a certain period of time I have economic growth will rely primarily on traditional industries, so cycle stocks would not suddenly become worthless. ”
TX data has shown, the Fund totals $ 5.082 billion of profits last year, compared with $ per cent in 2009, only the equivalent of 0.56% of the profit from a year earlier. Types of view, equity funds last year was the most "sad reminder" of a type, $ 35.531 billion loss for the year 2010, mixed-type fund the 23.861 billion yuan profit, profit for the year $ 5.877 billion bond fund, has 42.99% over the same period in 2009. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what and fund management fee income is than 2009 over growth has 5.84%. 2010 fund managers received revenue from the management fees of 30.219 billion yuan, to pay the brokerage trading commissions to $ 6.24 billion, hosting fees paid to managed Bank 5.328 billion yuan. At the same time, increased proportion of customer maintenance costs as compared to 2009, by 0.66%.
Where the securities journal funds weekly observed, BOCOM 180 governance Fund ETF join customer maintenance charges maximum, total of 293.55%.
In 2010, put on large fund investors to retreat, the securities journal weekly based on wind data display of the Fund, 2010 institutional investors hold a share average of 640 million, 15.9% reduction over the previous year, and personal investment of the Fund holds a share average 2.444 billion in 2010, 22.82% reduction over the previous year. At the same time, Fund holdings, the securities journal weekly Fund WIND information data and statistics show 2010 Annual Fund total involvement in 1662 stocks, 81.51% per cent of all in Shanghai and Shenzhen a-share over the same period, 0.1% higher than in the middle of 2010, 4.23% higher than the end of 2009.
Compared with last year, China vanke was cartridge up to increase a stock of the Fund; and industrial and commercial bank is half a year by the Fund to reduce the maximum amount of a stock. Worth noting is that the guts of the Fund is growing. The securities journal funds weekly exclusive statistics, total 41 159 funds of the fund company's sight on the 27 ST unit, which includes the 15 "Grand Prix Star" shares. And when at the end of 2009, a total of 102 funds involved 25 ST unit which the guotai fund company, a total of 12 funds into ST shares, more 10 funds gathered in *ST Cheng Gong, is its only fund holding position ST unit one of the most notable venture capital firms.
Two of Huaxia and Warburg and Societe Generale's Fund company, there are 8 and 6 funds hold only 10 ST unit, is the most adventurous of the two fund companies. However, perhaps through changes in the first quarter of this year, holding a new change in the direction of the Fund. According to the wind data display, former unit base respectively the top three in the first quarter of this year is $ augmentation of the South industrial optimization and Peng hua, great wall brand value. Lung Yuan industry was in its last year in the South in the annual report made it clear that, through a year of adjustment, financial class units entered the security area, in particular the securities industry, ushered in the new third of the year, covered warrants, International Board, margin and transfer facilities continue to introduce innovations such as reform, prospects can be.
Great Wall brand optimization is relatively more optimistic about high-speed rail, cement and other industries. Penghua value advantage is even looking at the market share, especially cycle stocks. "At least we think that change the mode of economic growth and economic restructuring is an ongoing process, to a certain period of time I have economic growth will rely primarily on traditional industries, so cycle stocks would not suddenly become worthless. ”
2010 Fund Investor retreat more personal than institutions ran
Redemption of the fund investors in 2010 with adequate data support.
60 656 funds owned by venture capital firms 2010 report data displays, for 2010, all funds, institutional investors hold 640 million shares on average, than the decrease of 2009 and 2010 average personal investment holding shares of the Fund as 2.444 billion, than the decrease of 2009. At the same time, the securities journal funds weekly notes, it is also in 2010, an increase of 147 in the background of new fund data.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what partial unit type fund institutions investors accounted for than rose securities daily under Fund weekly under wind data statistics display, 2010 institutions investors holds 299.583 billion copies securities investment fund, which stock type Fund occupy 53.31%, bond type Fund occupy 11.4%, currency type Fund occupy 3.5%; compared 2009, institutions investors holds Fund total share reduced has 47.3 billion copies; and personal investors holds Fund share for 1.265 trillion copies, compared 2009, personal investors holds Fund share reduced 88.24 billion copies. For partial shares Fund, 2010 rise in the proportion of institutional investors, and the decline in the proportion of individual investors.
Where partial stock fund investment in average of 21.31%.
While 2009 investment ratio averaged 18.95%, data can be seen, 2010 fund investment increased by 2.36%.
At the same time, the securities journal funds weekly reporter based on wind data to calculate, 2010 partial unit funds individual investor holdings average is 78.69%, and 2009 partial unit Fund individual investment ratio of 81.04%, data shows that in 2010 compared to the unit funds individual investor holdings down 2009.
For bond funds, 2010 individual investors hold a share last year rose, while institutional investors holding ratio declined. The securities journal funds weekly reporter based on wind data to calculate, 2010 institutional investors hold a share of which averaged 36.98%; 2009 institutional investors hold a share average 40.18%.
Data shows that for bond funds, institutional investors, holding a share average down 3.2%; 2010 annual report shows that individual investors hold a share ratio of 63.02% and 2009 individual investors hold a share of 58.22%, data shows that for bond funds, individual investors hold a share rose 4.8%.
2010 for the purposes of monetary funds, increased monetary funds for individual investors, institutional investors has declined.
The securities journal funds weekly reporter based on wind data to calculate, which average will be 53.34% 2010 institutional investors hold shares, average 2009 institutional investors hold a share of 55.01%.
Data shows that monetary funds for institutional investors, the 2010-year down 1.67%; in 2010 monetary funds for individual investors share 48.85% 2009 individual investor holdings of 43.88%, the securities journal funds weekly reporters through the data comparison drawn 2010 monetary funds for individual investors share rising 4.97%. Yi fang da deep card 100 (159,901, Fund 's) ETF most by institutions favored 2010 year reported display, in institutions investors holds share in the, accounted for share up to of is Yi fang da deep card 100 (159,901, Fund 's) ETF, its institutions investors share for 18.5 billion copies, accounted for the Fund total share for 23.191 billion copies of 79.75%; and in Active type management partial unit Fund in the, institutions investors holds share up to of is Oriental selected (400,003, Fund 's) (mixed type Fund), its institutions investors share for 6.23 billion copies, accounted for the Fund total share 6.25 billion copies of 99%.
And the 2009 annual report shows institutional investors hold a share of up to is Bank of monetary funds, 16.8 billion for its share. In 2010, the institutional investors hold a share of more than a minimum amount of Fund is HSBC, Jin 2026 (Equity Fund), whose share is 10,000 copies.
60 656 funds owned by venture capital firms 2010 report data displays, for 2010, all funds, institutional investors hold 640 million shares on average, than the decrease of 2009 and 2010 average personal investment holding shares of the Fund as 2.444 billion, than the decrease of 2009. At the same time, the securities journal funds weekly notes, it is also in 2010, an increase of 147 in the background of new fund data.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what partial unit type fund institutions investors accounted for than rose securities daily under Fund weekly under wind data statistics display, 2010 institutions investors holds 299.583 billion copies securities investment fund, which stock type Fund occupy 53.31%, bond type Fund occupy 11.4%, currency type Fund occupy 3.5%; compared 2009, institutions investors holds Fund total share reduced has 47.3 billion copies; and personal investors holds Fund share for 1.265 trillion copies, compared 2009, personal investors holds Fund share reduced 88.24 billion copies. For partial shares Fund, 2010 rise in the proportion of institutional investors, and the decline in the proportion of individual investors.
Where partial stock fund investment in average of 21.31%.
While 2009 investment ratio averaged 18.95%, data can be seen, 2010 fund investment increased by 2.36%.
At the same time, the securities journal funds weekly reporter based on wind data to calculate, 2010 partial unit funds individual investor holdings average is 78.69%, and 2009 partial unit Fund individual investment ratio of 81.04%, data shows that in 2010 compared to the unit funds individual investor holdings down 2009.
For bond funds, 2010 individual investors hold a share last year rose, while institutional investors holding ratio declined. The securities journal funds weekly reporter based on wind data to calculate, 2010 institutional investors hold a share of which averaged 36.98%; 2009 institutional investors hold a share average 40.18%.
Data shows that for bond funds, institutional investors, holding a share average down 3.2%; 2010 annual report shows that individual investors hold a share ratio of 63.02% and 2009 individual investors hold a share of 58.22%, data shows that for bond funds, individual investors hold a share rose 4.8%.
2010 for the purposes of monetary funds, increased monetary funds for individual investors, institutional investors has declined.
The securities journal funds weekly reporter based on wind data to calculate, which average will be 53.34% 2010 institutional investors hold shares, average 2009 institutional investors hold a share of 55.01%.
Data shows that monetary funds for institutional investors, the 2010-year down 1.67%; in 2010 monetary funds for individual investors share 48.85% 2009 individual investor holdings of 43.88%, the securities journal funds weekly reporters through the data comparison drawn 2010 monetary funds for individual investors share rising 4.97%. Yi fang da deep card 100 (159,901, Fund 's) ETF most by institutions favored 2010 year reported display, in institutions investors holds share in the, accounted for share up to of is Yi fang da deep card 100 (159,901, Fund 's) ETF, its institutions investors share for 18.5 billion copies, accounted for the Fund total share for 23.191 billion copies of 79.75%; and in Active type management partial unit Fund in the, institutions investors holds share up to of is Oriental selected (400,003, Fund 's) (mixed type Fund), its institutions investors share for 6.23 billion copies, accounted for the Fund total share 6.25 billion copies of 99%.
And the 2009 annual report shows institutional investors hold a share of up to is Bank of monetary funds, 16.8 billion for its share. In 2010, the institutional investors hold a share of more than a minimum amount of Fund is HSBC, Jin 2026 (Equity Fund), whose share is 10,000 copies.
2010 Christian Democratic earned 5 billion Fund would clean up only 30 billion from the Christian Democratic hurt
"What is the Fund in making money for me, or am I working at to the Fund? "Look at fund industry 2010" books ", Mr Christian Democratic week exceptionally depressed. Yesterday, 60 729 funds of the fund company's 2010 annual report disclosure is complete, according to statistics, last year, the fund industry profits have shrunk, Christian Democratic to make to the overall profit of only about $ 5 billion, fund companies, banks and brokerages from the assets of the Fund in the total received nearly $ 42 billion of revenue, is Christian Democratic total profit of about 8 times.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what text/table reporter Wu Qian 50 billion Christian Democratic profit than two years ago shrink 900 billion and 2009 of profit compared, 2010 fund industry for base people earned to of money can be described as bucket.
Day companion Advisory Board statistics, 729 Fund profit totals $ 5.08 billion last year, and the 2009 fund industry profit of 910.25 billion yuan. 2010 equity funds, the only type of fund losses, has eroded most of the profits of the fund industry, 300 Equity Fund total losses $.
Loss of the top five Chinese Shanghai composite respectively (50, Fund) ETF, easily reached Shanghai 50, harvest the CSI (300, funds), China Post core growth (590,002, Fund) and the Huaxia CSI 300, the amount of $ 6.08 billion, respectively, $ 5.23 billion, $ 4.16 billion, $ 2.98 billion and $ 2.86 billion. Mixed-type Fund became the most profitable fund types, 158 mixed fund earnings total $ 23.86 billion. Bond funds followed, profit $ 5.88 billion, QDII profit of 3.8 billion yuan.
Closed-end Fund, money Fund, capital preservation fund respectively, earning a $ 3.75 billion, $ 2.23 billion, $ 1.096 billion. established interests hooking mechanism without delay "market environment of course is an important factor affecting the fund performance. But for a long time, fund the existing separation of model making company income and performance of the Fund, fund the company's interest and linked to the Christian democratic interests, is also a major cause of abnormal data in this annual report.
"Pointed out that a fund company. Jianjinxin Fund Evaluation Center Director Jun Li said foreign public placement fund industry in achieving the interests of the holders of the Fund Manager and some more mature approach to consistency.
For example, that fund managers and fund managers hold a certain percentage and amount of own funds, and called for its commitment to the Manager's remuneration and bonuses, according to a certain proportion of the fund managers to buy their product, and there is a certain lock period. 302 Yi fund management fees approaching all-time is ironically, while the Christian Democratic profits have plunged, 2010 public-fund management fees are again approaching all-time highs.
In 2010, included in the statistics of fund management fee income of the company totals $ 60 to $, $ than the increase of 2009, fund companies revenue increased by almost 6% 2010. Devour Christian Democratic Equities Fund against Fund firms of more than 30 billion asset management the main source of income.
According to TX statistics 2010, funds from the equity fund management fee revenue of 16.136 billion yuan, more than half of total industry revenues.
Not only that, in some of the costs incurred in the operation of the Fund has also contributed greatly to nourish banks, brokerages and other related parties, which goes well beyond Christian Democratic $ 5 billion in earnings last year. According to statistics, 60 firms 2010 Fund custody fee paid to banks amounted to 5.328 billion yuan, more than in 2009 of $ 288 million. Fund company "shanggong" to the channel customer care cost is "trailing commissions", reached $ 4.57 billion.
As the Fund issued another large channel, from which the brokerages also gets a lot of trading commissions, amounting to $ 6.39 billion. Removed from customer care costs incurred in the management fees, fund companies, banks and brokerages from the assets of the Fund in the total received nearly $ 42 billion of income, this figure is about 8 times the total profits of the Fund.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what text/table reporter Wu Qian 50 billion Christian Democratic profit than two years ago shrink 900 billion and 2009 of profit compared, 2010 fund industry for base people earned to of money can be described as bucket.
Day companion Advisory Board statistics, 729 Fund profit totals $ 5.08 billion last year, and the 2009 fund industry profit of 910.25 billion yuan. 2010 equity funds, the only type of fund losses, has eroded most of the profits of the fund industry, 300 Equity Fund total losses $.
Loss of the top five Chinese Shanghai composite respectively (50, Fund) ETF, easily reached Shanghai 50, harvest the CSI (300, funds), China Post core growth (590,002, Fund) and the Huaxia CSI 300, the amount of $ 6.08 billion, respectively, $ 5.23 billion, $ 4.16 billion, $ 2.98 billion and $ 2.86 billion. Mixed-type Fund became the most profitable fund types, 158 mixed fund earnings total $ 23.86 billion. Bond funds followed, profit $ 5.88 billion, QDII profit of 3.8 billion yuan.
Closed-end Fund, money Fund, capital preservation fund respectively, earning a $ 3.75 billion, $ 2.23 billion, $ 1.096 billion. established interests hooking mechanism without delay "market environment of course is an important factor affecting the fund performance. But for a long time, fund the existing separation of model making company income and performance of the Fund, fund the company's interest and linked to the Christian democratic interests, is also a major cause of abnormal data in this annual report.
"Pointed out that a fund company. Jianjinxin Fund Evaluation Center Director Jun Li said foreign public placement fund industry in achieving the interests of the holders of the Fund Manager and some more mature approach to consistency.
For example, that fund managers and fund managers hold a certain percentage and amount of own funds, and called for its commitment to the Manager's remuneration and bonuses, according to a certain proportion of the fund managers to buy their product, and there is a certain lock period. 302 Yi fund management fees approaching all-time is ironically, while the Christian Democratic profits have plunged, 2010 public-fund management fees are again approaching all-time highs.
In 2010, included in the statistics of fund management fee income of the company totals $ 60 to $, $ than the increase of 2009, fund companies revenue increased by almost 6% 2010. Devour Christian Democratic Equities Fund against Fund firms of more than 30 billion asset management the main source of income.
According to TX statistics 2010, funds from the equity fund management fee revenue of 16.136 billion yuan, more than half of total industry revenues.
Not only that, in some of the costs incurred in the operation of the Fund has also contributed greatly to nourish banks, brokerages and other related parties, which goes well beyond Christian Democratic $ 5 billion in earnings last year. According to statistics, 60 firms 2010 Fund custody fee paid to banks amounted to 5.328 billion yuan, more than in 2009 of $ 288 million. Fund company "shanggong" to the channel customer care cost is "trailing commissions", reached $ 4.57 billion.
As the Fund issued another large channel, from which the brokerages also gets a lot of trading commissions, amounting to $ 6.39 billion. Removed from customer care costs incurred in the management fees, fund companies, banks and brokerages from the assets of the Fund in the total received nearly $ 42 billion of income, this figure is about 8 times the total profits of the Fund.
April 1 Fund dividends and trading tips
Boshi fund management company limited announced on its part of the open Fund participation in Dongguan Bank Internet banking application rate and periodic, fixed purchase rates offer announcement.
Baoying fund management company limited announced on its Fund participation in industrial and commercial bank (601,398, unit) limited personal e-banking Fund purchase rates favorable notice. Great Wall fund management published on great wall long Tai CITIC p 300 index securities investment fund tracking benchmark index changed to the CSI 300 index of informative bulletins.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what long Sheng Fund Management Limited announced on opened meeting pay world "every day full" online direct business of notice.
Dacheng fund management company limited announced on the great capital preservation investment funds increased Bank of Wenzhou for the announcement of the distribution agent.
Sea Franklin fund management announced its part of the Fund participating in Hua Xia Bank (600,015, unit) limited Internet banking for personal purchase, Fund rates offer notice.
Penghua fund management company limited announced on Peng Hua securities investment funds in the money market income payment notice.
Fidelity fund management company limited announced on fidelity securities investment funds in the money market open daily purchase, redemption, fixed investment and conversion of business announcements on a regular basis.
First State Cinda fund management published a letter on its continued participation in Huaxia Bank investment purchase rate offer announcement. YINHUA fund management company limited announced on silver certificate and other weight 90 index rating of central China Securities Investment Fund open system internal managed and transferred across systems managed business announcements.
Baoying fund management company limited announced on its Fund participation in industrial and commercial bank (601,398, unit) limited personal e-banking Fund purchase rates favorable notice. Great Wall fund management published on great wall long Tai CITIC p 300 index securities investment fund tracking benchmark index changed to the CSI 300 index of informative bulletins.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei Sun Jianbo ya, Bao ST unit Fund brokerages Bank are make money Christian Democratic alone losses QFII turned doubled holding *ST fine LUN Fund dimension stability behind: two a fell stopped throwing finished double meeting billion State pharmaceutical intended IPO more than private ahead of latent Fund absolute controlled disk 27 only a unit holdings 581 only [hexun know] Dang Fund Manager need what long Sheng Fund Management Limited announced on opened meeting pay world "every day full" online direct business of notice.
Dacheng fund management company limited announced on the great capital preservation investment funds increased Bank of Wenzhou for the announcement of the distribution agent.
Sea Franklin fund management announced its part of the Fund participating in Hua Xia Bank (600,015, unit) limited Internet banking for personal purchase, Fund rates offer notice.
Penghua fund management company limited announced on Peng Hua securities investment funds in the money market income payment notice.
Fidelity fund management company limited announced on fidelity securities investment funds in the money market open daily purchase, redemption, fixed investment and conversion of business announcements on a regular basis.
First State Cinda fund management published a letter on its continued participation in Huaxia Bank investment purchase rate offer announcement. YINHUA fund management company limited announced on silver certificate and other weight 90 index rating of central China Securities Investment Fund open system internal managed and transferred across systems managed business announcements.
Wednesday, March 30, 2011
Social security 10 's new mechanical unit risk capital QFII gallon electric
The investor newspaper reporter Shang Zhike Sun Tzu: "forces of law, ten of the Wai, five of the attack, the battle, the enemy can, few can keep it.
"According to the different financial strength, operational practices, investment institutions have similar characteristics appears. Was called "national team" of social security fund although market scale than public raised Fund, but in a shares market arrived inflection point Shi, they always to fine, and quasi, and ruthless of style stepping in the, by of is attack, and war, and min, and keep properly; insurance funded always was market seen as copy end "vane"; despite QFII of influence than before, but also award-winning has inverse city operation of success battle. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund as on March 22, two cities total over 700 home listed company disclosure 2010 of annual report. Increase as the number of disclosures, behind the institution's operations became clear, and before the new changes have taken place.
In a four-quarter stocks and industry changes on the cartridge change, social security, insurance and QFII focuses on different social security gallon machinery instruments industry 10 stocks heavily, risk capital select transportation industry 6 unit, QFII is favored to 5 electronic information unit has added. 2010 the massive intervention of the social security machinery unit at the end of four quarters, social security combined a total of 101 units.
Social security number appears most stocks with a double Heron pharmaceutical (002038, unit), 4 combined total, 110, 104, 108 and 109 held 18.43 million shares, accounting for a share of the unit circulation near 9%, 4% increase over the previous quarter, an increase of 80%.
As a bio-pharmaceutical leader in the field of domestic tumors and liver disease, double Egret pharmacy is cut into the area of respiratory medicine, drug discovery and development outstanding, at the same time benefit from a number of positive policy measures, such as in basic drug, multiple drug sales may be observed this year. 3 social security combination get together coming out of a unit has 2: Cheng Yun shares (300,090 shares) and the Temple of biological (600,161, unit).
In addition, $ including health (600,380, unit), a good provider (600,467, unit) 16, only 2 social security is a unit of four seasons in combination entered. Social security holds a high percentage of stocks there are LI Si-e (300,010, unit), Cheng Yun shares, the Quartet shares (601,126 shares), respectively of the a-share percentage shares, 9.8% and 8.1%. Worth noting is that these three stock new units in all four quarters of social security fund.
In addition, the Council for social security fund four quarter hold improve medical (300,030, unit) 1.55 million shares, nearly 4% per cent shares in the unit, all for the four quarters to enter.
Stake in terms of market value, midea electric appliances (000527, unit), double Heron pharmaceutical and Fuyao glass (600,660, unit) before column three, holding the market value of $ 1.69 billion, $ 1.087 billion and $ 713 million, respectively.
Single on last year four quarter,, social security fund holdings amount more of stock has double Heron drug industry, and 31 heavy workers (600,031, unit 's), and in the set Group (000039, unit 's), and Hainan Aviation (600,221, unit 's), and party large carbon pigment (600,516, unit 's) and Shanghai medicine (601,607, unit 's), holdings amount are in 200 million Yuan above. As of March 22, social security combination show up 22 machinery equipment and meters, 15 metal and Nonmetal and 11 in wholesale and retail trade.
Overall, the social security fund four quarterly industry mainly machinery and equipment of the new instrument, a total of 10 's new unit, and large gallon range, apart from Cheng Yun shares and the Quartet shares, on land, sea and heavy industry (002255, unit) and water saving of Yu the great (300,021, unit) holdings per cent and 5.9%, respectively. Several several unhappy with joy.
25 a share in the last four quarters was reduction of social security funds, reduction of the most powerful of these is Fuyao glass. According to the reduction of social security funds last year, four-quarter cumulative Fuyao glass 13.72 million shares reduces ownership from 83.17 million shares to 69.45 million shares.
In addition, the world of science and technology (600,582, unit) and Shenyang machine tool (000410, unit) was 7.9 million shares by reducing the Social Security Fund and 7.39 million, respectively. favored insurance funded transportation as of now, the greatest risk capital concern fundamental for the country of the South (600,268, unit).
5 insurance portfolios together hold only 21.8 million shares, with 15.78 million to increase its stake in the four quarter. There are 4 units of insurance portfolio only concern: gold bullion (600,489, unit), Hong Kong and Kowloon of Chongqing (600,279, unit), Henderson daxin (002492, unit) and SDB (000001, unit) a.
With both Henderson daxin Chongqing Kowloon, Hong Kong and for the four quarters of insurance funds new, holds a 7.06 million and 970,000 units.
At risk in the Chinese new stocks, accounting for a share a greater proportion in circulation are: Nanjing-Shanghai Expressway (600,377, unit), province wide development, Ginza shares (600,858 shares), canny elevator (002367, unit) and four-figure reform, respective ratio:, 8%, 6.5%, and 6%.
Insurance funded gallon large industry for the transportation of the storage industry, 6 units in addition to outside the Nanjing-Shanghai Express, Henderson daxin Chongqing Kowloon, Hong Kong and was holding a higher proportion, accounting for a share percentage shares and 4.7%, respectively. See per cent stock shares, insurance fund to increase its stake in maximum 3 units of mountain coal International (600,546, unit), young farmers and animal husbandry (002477, unit) and State power-South, 9%, and 6% respectively.
According to the number of holdings, to increase its stake up to 3 units respectively of the Bank of China (601,988, unit), and Nanjing-Shanghai vanke a high speed. Insurance fundsReduction of the stock opened, led by shares of the biggest (600,376, unit), reduction of the ratio per cent shares in the Unit 6%.
Four quarters, three insurance portfolios together reduce the share of 31.51 million shares.
Interventional 184 units of the Department from the insurance industry, machinery equipment instruments 18 19 25, medicine, information technology, metal and Nonmetal only 17. Risk intervention of funding new Ning-Hu high speed at the same time also received attention from the QFII, holding all four quarters of the nearly 14% new.
Although Ning-Hu high speed of growth in a-shares do not prominent, but as of now the share prices and flat at the beginning, but calculated based on the Nanjing-Shanghai Express Announces 2010 annual report, dividend rate was 5.4% last year, almost every year to implement high dividends, which become the main reasons for the institution favor Ning-Hu high speed. QFII to increase its stake in electronic information 2010 at the end of four quarters, 6 QFII unanimously viewed only Johnson holdings (600,662, unit), a total of nearly 7% per cent shares in the unit, which Citigroup Global financial limited, Norway 4 QFII such as central banks are in a four-quarter gallon.
In addition there are 4 QFII Datang power (601,991, unit), 2 hold China life (601,628, unit) and Hua Tian hotel (000428, unit). In single units, QFII holds the highest proportion of Pathfinder (300,005, unit), a share shares reached 8%.
The shareholders Colombia University third quarter of 2010 first enters, and in the four-quarter gallon 1.88 million shares currently holds a total of 4.5 million shares. Four-quarter increase in warehouses large stocks, rising over 2% per cent shares of stock and Xinhua medical, *ST fine (600,587, unit).
QFII position proportional decline the largest two units for the beauty of a star (002243, unit) and medical (300,003, shares), shares fell and 2% respectively. Comprehensive statistical view, QFII in last four quarters into a part of the new electronic information unit in the unit.
QFII added 35 stocks, 5 belong to the information technology industry, which includes the silver Hero (300,085, unit) and huaxing venture capital (300,025 shares), representing an increase of proportion are larger. For example, there are two QFII silver hero holds a total of 700,000 units, accounting for a share ratio of circulation near 5.6%.
Data show that silver hero is in State planning key software enterprise, main business is to provide the banking application and imaging-related software products, software development, technical service and the system integration.
The company's annual report showed that Nomura-Nomura asset management limited, Nomura Securities Co Ltd of China Investment Fund both QFII four quarters last year before entering the company's top ten shareholders out of circulation, bought 449,400 and 238,200 units respectively.
New and in the four-quarter accounted for more than 3% a-shares in circulation there is Nanjing-Shanghai Expressway, huaxing venture and You Luoka (300,099, unit). Some stocks have suffered a QFII left out. At the end of three quarters of last year, QFII, respectively, in the sea vanke a (600,026, unit) and Nanning sugar (000911, unit) the 100.24 million units, 11.22 million and 8.02 million units, but at the end of four quarters of last year, QFII is no longer holding more than 3 stocks, QFII adjustable warehouse was quickly.
"According to the different financial strength, operational practices, investment institutions have similar characteristics appears. Was called "national team" of social security fund although market scale than public raised Fund, but in a shares market arrived inflection point Shi, they always to fine, and quasi, and ruthless of style stepping in the, by of is attack, and war, and min, and keep properly; insurance funded always was market seen as copy end "vane"; despite QFII of influence than before, but also award-winning has inverse city operation of success battle. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund as on March 22, two cities total over 700 home listed company disclosure 2010 of annual report. Increase as the number of disclosures, behind the institution's operations became clear, and before the new changes have taken place.
In a four-quarter stocks and industry changes on the cartridge change, social security, insurance and QFII focuses on different social security gallon machinery instruments industry 10 stocks heavily, risk capital select transportation industry 6 unit, QFII is favored to 5 electronic information unit has added. 2010 the massive intervention of the social security machinery unit at the end of four quarters, social security combined a total of 101 units.
Social security number appears most stocks with a double Heron pharmaceutical (002038, unit), 4 combined total, 110, 104, 108 and 109 held 18.43 million shares, accounting for a share of the unit circulation near 9%, 4% increase over the previous quarter, an increase of 80%.
As a bio-pharmaceutical leader in the field of domestic tumors and liver disease, double Egret pharmacy is cut into the area of respiratory medicine, drug discovery and development outstanding, at the same time benefit from a number of positive policy measures, such as in basic drug, multiple drug sales may be observed this year. 3 social security combination get together coming out of a unit has 2: Cheng Yun shares (300,090 shares) and the Temple of biological (600,161, unit).
In addition, $ including health (600,380, unit), a good provider (600,467, unit) 16, only 2 social security is a unit of four seasons in combination entered. Social security holds a high percentage of stocks there are LI Si-e (300,010, unit), Cheng Yun shares, the Quartet shares (601,126 shares), respectively of the a-share percentage shares, 9.8% and 8.1%. Worth noting is that these three stock new units in all four quarters of social security fund.
In addition, the Council for social security fund four quarter hold improve medical (300,030, unit) 1.55 million shares, nearly 4% per cent shares in the unit, all for the four quarters to enter.
Stake in terms of market value, midea electric appliances (000527, unit), double Heron pharmaceutical and Fuyao glass (600,660, unit) before column three, holding the market value of $ 1.69 billion, $ 1.087 billion and $ 713 million, respectively.
Single on last year four quarter,, social security fund holdings amount more of stock has double Heron drug industry, and 31 heavy workers (600,031, unit 's), and in the set Group (000039, unit 's), and Hainan Aviation (600,221, unit 's), and party large carbon pigment (600,516, unit 's) and Shanghai medicine (601,607, unit 's), holdings amount are in 200 million Yuan above. As of March 22, social security combination show up 22 machinery equipment and meters, 15 metal and Nonmetal and 11 in wholesale and retail trade.
Overall, the social security fund four quarterly industry mainly machinery and equipment of the new instrument, a total of 10 's new unit, and large gallon range, apart from Cheng Yun shares and the Quartet shares, on land, sea and heavy industry (002255, unit) and water saving of Yu the great (300,021, unit) holdings per cent and 5.9%, respectively. Several several unhappy with joy.
25 a share in the last four quarters was reduction of social security funds, reduction of the most powerful of these is Fuyao glass. According to the reduction of social security funds last year, four-quarter cumulative Fuyao glass 13.72 million shares reduces ownership from 83.17 million shares to 69.45 million shares.
In addition, the world of science and technology (600,582, unit) and Shenyang machine tool (000410, unit) was 7.9 million shares by reducing the Social Security Fund and 7.39 million, respectively. favored insurance funded transportation as of now, the greatest risk capital concern fundamental for the country of the South (600,268, unit).
5 insurance portfolios together hold only 21.8 million shares, with 15.78 million to increase its stake in the four quarter. There are 4 units of insurance portfolio only concern: gold bullion (600,489, unit), Hong Kong and Kowloon of Chongqing (600,279, unit), Henderson daxin (002492, unit) and SDB (000001, unit) a.
With both Henderson daxin Chongqing Kowloon, Hong Kong and for the four quarters of insurance funds new, holds a 7.06 million and 970,000 units.
At risk in the Chinese new stocks, accounting for a share a greater proportion in circulation are: Nanjing-Shanghai Expressway (600,377, unit), province wide development, Ginza shares (600,858 shares), canny elevator (002367, unit) and four-figure reform, respective ratio:, 8%, 6.5%, and 6%.
Insurance funded gallon large industry for the transportation of the storage industry, 6 units in addition to outside the Nanjing-Shanghai Express, Henderson daxin Chongqing Kowloon, Hong Kong and was holding a higher proportion, accounting for a share percentage shares and 4.7%, respectively. See per cent stock shares, insurance fund to increase its stake in maximum 3 units of mountain coal International (600,546, unit), young farmers and animal husbandry (002477, unit) and State power-South, 9%, and 6% respectively.
According to the number of holdings, to increase its stake up to 3 units respectively of the Bank of China (601,988, unit), and Nanjing-Shanghai vanke a high speed. Insurance fundsReduction of the stock opened, led by shares of the biggest (600,376, unit), reduction of the ratio per cent shares in the Unit 6%.
Four quarters, three insurance portfolios together reduce the share of 31.51 million shares.
Interventional 184 units of the Department from the insurance industry, machinery equipment instruments 18 19 25, medicine, information technology, metal and Nonmetal only 17. Risk intervention of funding new Ning-Hu high speed at the same time also received attention from the QFII, holding all four quarters of the nearly 14% new.
Although Ning-Hu high speed of growth in a-shares do not prominent, but as of now the share prices and flat at the beginning, but calculated based on the Nanjing-Shanghai Express Announces 2010 annual report, dividend rate was 5.4% last year, almost every year to implement high dividends, which become the main reasons for the institution favor Ning-Hu high speed. QFII to increase its stake in electronic information 2010 at the end of four quarters, 6 QFII unanimously viewed only Johnson holdings (600,662, unit), a total of nearly 7% per cent shares in the unit, which Citigroup Global financial limited, Norway 4 QFII such as central banks are in a four-quarter gallon.
In addition there are 4 QFII Datang power (601,991, unit), 2 hold China life (601,628, unit) and Hua Tian hotel (000428, unit). In single units, QFII holds the highest proportion of Pathfinder (300,005, unit), a share shares reached 8%.
The shareholders Colombia University third quarter of 2010 first enters, and in the four-quarter gallon 1.88 million shares currently holds a total of 4.5 million shares. Four-quarter increase in warehouses large stocks, rising over 2% per cent shares of stock and Xinhua medical, *ST fine (600,587, unit).
QFII position proportional decline the largest two units for the beauty of a star (002243, unit) and medical (300,003, shares), shares fell and 2% respectively. Comprehensive statistical view, QFII in last four quarters into a part of the new electronic information unit in the unit.
QFII added 35 stocks, 5 belong to the information technology industry, which includes the silver Hero (300,085, unit) and huaxing venture capital (300,025 shares), representing an increase of proportion are larger. For example, there are two QFII silver hero holds a total of 700,000 units, accounting for a share ratio of circulation near 5.6%.
Data show that silver hero is in State planning key software enterprise, main business is to provide the banking application and imaging-related software products, software development, technical service and the system integration.
The company's annual report showed that Nomura-Nomura asset management limited, Nomura Securities Co Ltd of China Investment Fund both QFII four quarters last year before entering the company's top ten shareholders out of circulation, bought 449,400 and 238,200 units respectively.
New and in the four-quarter accounted for more than 3% a-shares in circulation there is Nanjing-Shanghai Expressway, huaxing venture and You Luoka (300,099, unit). Some stocks have suffered a QFII left out. At the end of three quarters of last year, QFII, respectively, in the sea vanke a (600,026, unit) and Nanning sugar (000911, unit) the 100.24 million units, 11.22 million and 8.02 million units, but at the end of four quarters of last year, QFII is no longer holding more than 3 stocks, QFII adjustable warehouse was quickly.
Wang yawei to give up than 80% Dalian thermal power restructuring expected rate of return
New Express News reporter Chen Hao autumn has always loved long latent restructuring Wang yawei seems difficult enemy high gains on stocks of temptation, Dalian thermal power (600,719, unit) annual report showed last night, entry of three quarters of last year the Chinese market, China policy have been evacuated. Companies operating income increased slightly by 6.44% last year to $ 667 million, net profit shrink $ 11.4% to $. And the company the past few years compared to an annual average of about $ 15 million net profit also fell. Four quarters last year, Wang yawei into hype and restructuring of the company itself raised the expected surge in its share price. Company more clearly in the annual report, "said Board is fully aware of the company through asset reorganization, listed as a whole in order to completely solve the related trade problems, and made the local securities and State regulators, the associated thermal power group widely recognized the period has been the preparatory work has been deployed, strive to pay close attention to promoting when conditions are ripe. "But the report shows, three quarters of last year before the approach of the Chinese market and Chinese policy has left circulation of ten shareholders.
Passion for restructuring unit "a" very rare early decisive departure. Given the three quarters of last year when the average price of $ 7.78 and four seasons of the highest stock price nearly 1 time gap between $ 13.99, Wang yawei's move is not difficult to understand. At that rate, investment of 35 million worth of "viagra" when high book profit of about $ 28 million, the highest profit margins of nearly 80%. Just a few months so proceeds, abandoning the "latent" extenuating circumstances.
Passion for restructuring unit "a" very rare early decisive departure. Given the three quarters of last year when the average price of $ 7.78 and four seasons of the highest stock price nearly 1 time gap between $ 13.99, Wang yawei's move is not difficult to understand. At that rate, investment of 35 million worth of "viagra" when high book profit of about $ 28 million, the highest profit margins of nearly 80%. Just a few months so proceeds, abandoning the "latent" extenuating circumstances.
Index to 14 per cent return on Fund yields Super 40%
Securities times zhe Zhang July 1, 2009, Shanghai from 3,000 points back to 3,000 points, zero per cent. During the active management of the unit Fund income. Day companion data display gu, 298, including equity and hybrid open-NET bonus units average has gone up 15.07%. Growth-oriented investment style of Fund products, became one of the leader.
Recommended reading · fengji instant investment value ranking
· users real disk PK star Fund first Fund annual report debut new fund number increased twice times scale drop 14% ETF Fund unified release double meeting purchase provisions is not field research Wang yawei still into Shandong sea of private among 132 home company "Qian ten" perspective annual report social security fund configuration explicit new trends [hexun know] will cast 1000 Yuan suitable did data display, in 298 only partial unit Fund in the has 160 only interval income rate (from on July 1, 2009 to March 9) over 15%, accounted for than reached 54%, has 45 only fund income rate over 30%, which, 14 only fund income rate over 40%, excess return explicit with. Judging from the investment style, is committed to exploring growth stock investment fund products to become leader 3,000 points again. Where the Chinese market and Chinese policy, interval yields up to and 76.83%, respectively, Chinese merchants of peace and prosperity to grow (630,002, Fund) Fund interval receipts of 59.41%, of hybrid Fund focused on growth stocks investment rich tianhui (161,005, funds) then proceeds to 40.45% ahead.
Tiancheng owned by Wells Fargo, Wells Fargo tianyuan (100,016, Fund) also harvest, 34.36%. According to rich countries fund, on the high volatility of the a-share market, rely on optional control positions to win has become increasingly difficult.
Through selected cattle unit, relying on self-growth of listed companies to make money, is a more practical choice. "Plate and changes in the fundamentals of listed companies in many industry and not as severe as shares, some fluctuations in share prices reflected a market expectations and the psychology of investors. Real need for lapping, or those that have a high quality of endogenous growth stocks. "Zhu Shaoxing rich tianhui fund managers said the medium-and long-term view, the market is still in a good investment area, particularly low valuations plate and with the growing scarcity of unit layout opportunities has already occurred.
Recommended reading · fengji instant investment value ranking
· users real disk PK star Fund first Fund annual report debut new fund number increased twice times scale drop 14% ETF Fund unified release double meeting purchase provisions is not field research Wang yawei still into Shandong sea of private among 132 home company "Qian ten" perspective annual report social security fund configuration explicit new trends [hexun know] will cast 1000 Yuan suitable did data display, in 298 only partial unit Fund in the has 160 only interval income rate (from on July 1, 2009 to March 9) over 15%, accounted for than reached 54%, has 45 only fund income rate over 30%, which, 14 only fund income rate over 40%, excess return explicit with. Judging from the investment style, is committed to exploring growth stock investment fund products to become leader 3,000 points again. Where the Chinese market and Chinese policy, interval yields up to and 76.83%, respectively, Chinese merchants of peace and prosperity to grow (630,002, Fund) Fund interval receipts of 59.41%, of hybrid Fund focused on growth stocks investment rich tianhui (161,005, funds) then proceeds to 40.45% ahead.
Tiancheng owned by Wells Fargo, Wells Fargo tianyuan (100,016, Fund) also harvest, 34.36%. According to rich countries fund, on the high volatility of the a-share market, rely on optional control positions to win has become increasingly difficult.
Through selected cattle unit, relying on self-growth of listed companies to make money, is a more practical choice. "Plate and changes in the fundamentals of listed companies in many industry and not as severe as shares, some fluctuations in share prices reflected a market expectations and the psychology of investors. Real need for lapping, or those that have a high quality of endogenous growth stocks. "Zhu Shaoxing rich tianhui fund managers said the medium-and long-term view, the market is still in a good investment area, particularly low valuations plate and with the growing scarcity of unit layout opportunities has already occurred.
Positions continue to rise further in the event 88% spell
Reporter Huang Shu-Shanghai reported a number of brokerages monitoring data show that Fund positions since the beginning is "rising high" trend, the current average position well above the historical average level of around 80%, and even rival "88% spell" threshold. That allowing the market to rebound can also continue to promote more of a concern for equity funds higher positions several times in recent years become vane indicates the market peaked. In 2009, "88% spell" track two, namely "7·29" and "11·24" two crash last November that crash is still fresh. China Securities journal first proposed "88% spell", and two reports in a timely manner. Recommended reading · fengji instant investment value ranking
· users real disk PK star Fund first Fund annual report debut new fund number increased twice times scale drop 14% ETF Fund unified release double meeting purchase provisions is not field research Wang yawei still into Shandong sea of private among 132 home company "Qian ten" perspective annual report social security fund configuration explicit new trends [hexun know] will cast 1000 Yuan suitable did Fund positions gradually higher despite the home brokerages of calculation model and method has differences, but conclusions basic consistent: Fund overall positions in 80% above, keep higher level.
Some of these according to the report, open equity funds are positions have been approaching or even exceeding the 88% again. Haitong securities report, for example, from February 25 to March 3, estimates of stock and mixed-type Fund stock positions, comparative calculation of positions on the February 18, rose from 79.25% in the previous period to the period of 85.73%, an increase of 6.48%, up to historical high levels.
Specifically, stock-open-end Fund positions upgrade from 84.24% per cent on average, average increase bin 5.76%; hybrid open-end Fund positions by 72.53% per cent on average, the average increase warehouse 7.12%.
According to the monitoring of the number of brokerages, this year, in the position of the Fund as a whole is on the rise, although positions due to the adjustment bin during a small fall, but on the whole operation of the Fund has maintained high positions. It makes market heart alert again in some quarters, because from the perspective of history, of average size of the award-winning guides "reverse indicator", especially when you fund positions close to or reach 88%, means that the Fund subsequent ammunition does not, the market may face the risk of decreased peak.
A recent example in November last year, when several brokerages was released on November 8 to "position and then up to new highs" Fund positions for keywords research report the next day, on November 9, a-shares began to turn down, in just a few trading days within the depth adjustment. the vane will be fulfilled again now Fund position is high again, history will repeat itself again? Has issued a reminder sound of many institutions.
Guosen securities research report published on March 7, open to 90.39% the equity fund positions, based on historical data after positions in more than 90% the market tends to drop or shock, and more difficult before positions reduces to 80% a bull appear, in the context of inflationary pressures, recommends that the current lower positions and selected units and plate, prevent market turbulence fall.
Gold report also warned that funds position levels are still high, "stress may be stock funds at the moment we can see from the funds of a larger risk". Of course there are different views. A fund researcher at the China Securities News reporter said that since the end of last year, and overall position of the Fund have been relatively high, only slight adjustments for the period of the action, there is no substantial increase, jiancang. This means that, in this round of rally, the Fund's contribution is not high, so it cannot be through insufficient funds bullet inferring market rising fixed.
As for the kinetic energy of the future Fund is there a jiancang, present circumstances, attitudes and early on the afternoon of the Fund and there is not much different, basic still maintain market shocks up to judge.
In fact, size of the Fund management assets accounted for only about 15% of the a-share market, much reduced proportion compared to previous years, funds capacity around the market was weaker. In addition to concerns over Fund jiancang, on the funds remain relatively optimistic about the market today. Gold report said March macro under the policy will remain tight liquidity situation, but in January of this year remains relatively relaxed state, with February liquidity basically the same, coupled with some investment in real estate capital may flow into the stock market, so from the perspective of macro-mobility, support March liquidity on the stock market better than the previous two months. At the same time, two weeks in a row, executives to reduce slowdown, pressure reducing industrial capital is weak.
· users real disk PK star Fund first Fund annual report debut new fund number increased twice times scale drop 14% ETF Fund unified release double meeting purchase provisions is not field research Wang yawei still into Shandong sea of private among 132 home company "Qian ten" perspective annual report social security fund configuration explicit new trends [hexun know] will cast 1000 Yuan suitable did Fund positions gradually higher despite the home brokerages of calculation model and method has differences, but conclusions basic consistent: Fund overall positions in 80% above, keep higher level.
Some of these according to the report, open equity funds are positions have been approaching or even exceeding the 88% again. Haitong securities report, for example, from February 25 to March 3, estimates of stock and mixed-type Fund stock positions, comparative calculation of positions on the February 18, rose from 79.25% in the previous period to the period of 85.73%, an increase of 6.48%, up to historical high levels.
Specifically, stock-open-end Fund positions upgrade from 84.24% per cent on average, average increase bin 5.76%; hybrid open-end Fund positions by 72.53% per cent on average, the average increase warehouse 7.12%.
According to the monitoring of the number of brokerages, this year, in the position of the Fund as a whole is on the rise, although positions due to the adjustment bin during a small fall, but on the whole operation of the Fund has maintained high positions. It makes market heart alert again in some quarters, because from the perspective of history, of average size of the award-winning guides "reverse indicator", especially when you fund positions close to or reach 88%, means that the Fund subsequent ammunition does not, the market may face the risk of decreased peak.
A recent example in November last year, when several brokerages was released on November 8 to "position and then up to new highs" Fund positions for keywords research report the next day, on November 9, a-shares began to turn down, in just a few trading days within the depth adjustment. the vane will be fulfilled again now Fund position is high again, history will repeat itself again? Has issued a reminder sound of many institutions.
Guosen securities research report published on March 7, open to 90.39% the equity fund positions, based on historical data after positions in more than 90% the market tends to drop or shock, and more difficult before positions reduces to 80% a bull appear, in the context of inflationary pressures, recommends that the current lower positions and selected units and plate, prevent market turbulence fall.
Gold report also warned that funds position levels are still high, "stress may be stock funds at the moment we can see from the funds of a larger risk". Of course there are different views. A fund researcher at the China Securities News reporter said that since the end of last year, and overall position of the Fund have been relatively high, only slight adjustments for the period of the action, there is no substantial increase, jiancang. This means that, in this round of rally, the Fund's contribution is not high, so it cannot be through insufficient funds bullet inferring market rising fixed.
As for the kinetic energy of the future Fund is there a jiancang, present circumstances, attitudes and early on the afternoon of the Fund and there is not much different, basic still maintain market shocks up to judge.
In fact, size of the Fund management assets accounted for only about 15% of the a-share market, much reduced proportion compared to previous years, funds capacity around the market was weaker. In addition to concerns over Fund jiancang, on the funds remain relatively optimistic about the market today. Gold report said March macro under the policy will remain tight liquidity situation, but in January of this year remains relatively relaxed state, with February liquidity basically the same, coupled with some investment in real estate capital may flow into the stock market, so from the perspective of macro-mobility, support March liquidity on the stock market better than the previous two months. At the same time, two weeks in a row, executives to reduce slowdown, pressure reducing industrial capital is weak.
Than the outgoing General Manager Yi Qiang Jin and Yuan dynasties the new Fund will have no way to go
--A new company has no way out and then look back, strong has something to say the air waves, borrowing of the institutional investment, Jin and Yuan dynasties than the outgoing General Manager external opening for the first time. A just outgoing General Manager, willing at the time it's embarrassing public media, is the need for considerable courage, Yi Qiang on the investment of two hours of sincere and we all feel he held the industry favorite, created on the left hand of Jin and Yuan dynasties than the fund company does not care.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund on we, easy strong expression has struggle five years zhihou, on fund industry development of most profound recommendations.
How much love, get back up; the number of people, willing to wait ... ...
If you also have the opportunity, hope Yi Qiang also have the courage to "love"!
│ Investment Institution Investment Ning Peng new companies have no way out of the investment: a late start of operations of the fund company faces many challenges, how can the current market environment of tight encirclement?
Yi Qiang: Happy Valley enclosure now time is over, unless there is a great deal of courage and determination to carry out large inputs, otherwise it is difficult to go and other fund companies to seize market share. Now there are many new companies were established, but based on my experience, if this mode of operation of the new company is also in accordance with the present, I really do not see any profit in the company of hope.
I recently read that many business plans of the new company, I can say is too optimistic.
Early too optimistic, problems that may exist on underestimated when the company encountered difficulties in the future will be helpless.
Of the investment: you think that the new Fund will have no way to go?
Yi Qiang: If in now way does, absolutely no way to go. Accounts can be a sum, in now way, company opened the new Fund is generally 40-50 personal framework. Fixed overhead and salary needs to spend more than $ 30 million a year or so, rent 5 million per year, plus travel and banking sources some of the expenses.
Expenditures will reach 60 million-70 million per year.
The current market, a fund size of around 500 million made by the new company, 1.5% of management fees, in accordance with the proportion with large banks into, can only get up to half, divided into income after 3.75 million.
Expenditure is fixed, but income is only 3.75 million.
There, now is definitely not the practice.
Of the institution: any way to break through?
Yi Qiang: development of the new company must be to the differentiated road.
Although we all know that performance and channels are very important, but the new company may not be able to find the best talent, it is difficult to make a first-class performance, you must follow a different course.
Previously the early stages of development of the market is an extensive operation, more intensive cultivation is the result of smaller gains, fund companies must now have its own clear definition and a distinct characteristics, no differentiation strategy could not have succeeded.
Product innovation, channel to innovation, service innovation.
Of the investment: product innovation as we know, but channels how to innovate?
Yi Qiang: banks have a lot of invisible costs, spend so much money, just get a bank counter on qualifications. Invested in early if you have access to customer to the stability, also can be said to have an investment of inputs and outputs. In fact, and channels of cooperation is not fixed.
You spend money to send bank account manager training abroad, however, he only fund does not sell your, your input was lost.
Banks protect their customers, will not let you contact with the customer, never turned these customers into their own customer.
Should find a like-minded channels established long-term in-depth cooperation. Of the investment: how long do?
How deep?
Yi Qiang: you can find small and medium sized joint-stock banks or city commercial bank, established close strategic partners, is the relationship between fund companies and banks is relatively fixed. Fund company's product design, to give the partner customer tailored features. Starting from product design, collaboration with channels, depending on customer needs, establish a common understanding of both products.
Now this "sell Fund" concept and pattern must be completely changed.
We all know the theory, but now no one attempts to or not willing to try. Due to the relatively fixed channels, channels and customer service to work on more planning and stability, as long as the performance and stability, good expansion of channels and customer relationships inherent assets. Another aspect, because channels fixed, upfront investment of the Fund and costs will be significantly reduced.
Fund companies may now to maintain 3-5 bank account manager, now used only in one Central Bank within a limited area, natural marketing costs will be significantly reduced.
Of the investment: this model may be facing such a problem, small banks can sell out large scale?
Yi Qiang: previously only the size of big banks can sell, but the scale of big banks are now sold out. Industrial and commercial bank (601,398, unit) a year selling 30-50 products, and small banks like Bank of Shanghai a year sell buy 3-5 products.
Sell the scale would not vary.
But close cooperation and loose cooperation, there is still a great deal of difference. We previously thought was too narrow. Now in addition to Bank sales, there are many other models.
Now sales of third-party payment and independent institutions have become the new choice.
home from the Hill of the Fund for the year 2007 of the investment fund industry entered a period of low, what do you think the low tide? Yi Qiang: fund industry now is debt 07 Fund called the Grand development of the industry, actually caused a great deal of damage to investors, and baseGold company but also because of easy access to a large number of assets, have become complacent.
2007 buy funds that groups of people, I estimate there is also one of the 2-or one-third not out. At that time a good Fund of tens of billions of, into agreement with the Bank of the year.
Many investors have not out, now also in contribution management fees.
People see Fund of staff previously, will be respected, and now with a look of contempt for you.
Of the investment: do you have any signs of improvement or recovery?
Yi Qiang: there is already a lot of positive signs.
Release of the product distribution channel, although the small company brings a lot of pressure, so that small companies can also choose path of innovation and differentiation.
A year before approval of the two products for small firms is the kind of protection, but also limit the innovation of small companies.
Draft amendments to the law of the Fund in China mentioned the Fund investment restrictions on release, is also a positive factor.
Of the investment: If investors are injured, from the industry on the whole, who are vested, shareholders, banks are also practitioners?
Yi Qiang: the industry pay was too high, has become an important factor impeding the development of the industry.
Each job salary is reasonable should take a look at the creation of value and take the risk.
Fund Manager is guaranteed income down, great take bonus, however the up will have a lot of space.
Actually public placement Fund comparison with average market benchmarks, neither do performance royalty nor do absolute gains.
Not only are higher than the investment professionals in other industries, do public-fund of the world, in addition to Hong Kong, Singapore, China absolute income of the Fund Manager is already complete and international practice. Foreign fund managers as portfolio managers, portfolio does in fact just do it.
You earn the Fund last year to customers in the management of several hundreds of millions, but when you lose it?
Of the investment: fund industry-what are the causes of excessive pay do you think?
Yi Qiang: starting point for public placement fund industry in China is too high, although late, but the starting point is high, on top of financial industry in the first place, initially to join the industry was the most talented people.
Europe now or phone orders, while China fund industry initially uses the most advanced systems, configuration is also the highest talent.
There are reasons for supply and demand.
If is open, and open market, such a high salary levels, will be a lot of people to do it. Now many artificial factors, resulting in a scarcity.
Provisions such as the SFC, a Fund Manager can pipe the two funds.
Conception is good, hope that the fund managers can focus on one or two funds, it also became the important cause of Fund Manager hoard as a rare commodity.
strategy determines the success or failure of the company of the investment: as a professional manager, what do you think company's General Manager for the position of the Fund influence on the development of the company? Yi Qiang: in front of a large body, personal power is very small.
As the company's General Manager, just implementation of the strategy of the company.
Board decided to do the capital preservation fund, I went to execute the company's strategy, in accordance with the strategy to build the company's team. Explain the characteristics of the Chinese market with shareholders, investors will say that I understand you, why not try it?
He is also using his most familiar way to try, select themselves believe that the most suitable candidate, as a just resolution of the Board, General Manager of the performer.
Of the investment: now recognized core competence is the performance of the fund industry, how do you see this problem?
Yi Qiang: from the perspective of survival of the company, not pinning their hopes on performance on the long-term beyond the benchmark. At the time of doing a business plan must be assumed that the performance of the company is the market average, if, under this assumption the company's business model is also profitable, this is a rational, reasonable commercial plans. Any company that fully understand the importance of investment performance on company size, will do what we can achieve better investment performance.
But no one can guarantee results have been able to better than other companies, even if it is now more than hundreds of billions larger companies, so the average level of performance is important prerequisite for reasonable business planning and corporate strategy.
I see a lot of the company's business plan is size to 100 and even 20 billion within three years, one of the very important premise is good performance brought about significant growth in the size of the Fund, I think it is too optimistic and unrealistic plan. Judging from the company's strategy, excessive emphasis on investment performance, is a very dangerous trend. Investment performance is important, but not the performance as the only factor for the growth of the company.
Do not fund companies want to expand all their hopes on the investment performance.
Of the investment: If you only make the average market performance, how to make corporate expansion and profit?
Yi Qiang: still have to adhere to the path of differentiation.
First of all, products, innovative, able to attract customers and, secondly, differentiated channel, how to let more people know about my products.
Finally, differentiated services. Existing customer performance-sensitive or not sensitive customer.
As an enterprise asset management, all focus on the performance, fail to do that must be achieved, what do you do? In fact, this is a very dangerous tendency.
Many practices, bad for investors, the Fund also adverse long-term development of the company.
Of the investment: in addition to the differences of the road, you think the industry or what changes are needed? Yi Qiang: in the United States registered fund company, as long as the US $ 150,000.
Many companies do not have customer service personnel, not researchers, so live very well. Why not do the smaller is a long-term and stable development of the company?
Because of their large so much appetite.
In fact, marketing, customer service, background, research, outsourcing, personnel can significantly streamline.
Old company is now fine, the new company also not very understanding of the industry. Fund accounting, needs someone to review.
General for 4 person, 2 person is enough.
Do review each other.
Small fund self-contained, very no economies of scale. on foreign capital – yiyin China market of the investment: do you think today's Fund industry on offshore financeInstitution, do you still attractive?
Yi Qiang: fund industry like a besieged city, people want to go out in the city, people want to come in out of the city.
Some agencies are very clearly what they want to come in to do, for example, some small and medium banks (there are insurance companies) to be a fund company, their thoughts are clear. However some institutions (especially the non-financial enterprises) on the characteristics of the industry does not understand, prepare is not sufficient, assume that is simple.
Before you come in, expectations are high; after came in, being not acclimatized.
Most venture fund companies do well now, I think it is inevitable.
Of the investment: how to understand the "inevitable"?
Yi Qiang: trip fund industry itself, not much foreign financial institutions in China.
Foreign institutions operating in China, many of the products to be successful, service can be successful is rare.
Consumers and investors in China has its own characteristics, however very few foreign financial institutions to truly understand this point.
China investors on products of quality, and price, and return, aspects very sensitive, and on value-added service these aspects does not too sensitive, also does not willing to for of wrote value-added service more bear cost, for example recently withdrawal domestic market of hundred thinking buy may also faced also of problem; also a examples is China has been lack established in trust system Foundation Shang of broker system development of social background and Culture Foundation, in Fund of sales Shang is has been to Bank channel sales mainly, and abroad some to broker sales mainly of mode has is large of differences.
Of the investment: two talismans of foreign institutions are not working, how can it succeed in the Chinese market?
Yi Qiang: quantitative tools and analysis methods are a two-edged sword, are both advantages and disadvantages. In fact, many new products in the country, many of which are mature products abroad.
Foreign investment there is advantage in product design, including stock indices futures and the tools to design products.
, Boshi, Chinese-funded companies are not excluded in the South to learn from foreigners, but they do not require shareholders, knowledge.
Foreign investment in wind control also has a good idea, but needs to have a new understanding on the different market environment. Foreign design parameters and indices of the domestic market, all stocks have problems. Typical example of this is Mao (600,519, unit), because its turnover is relatively small, is listed as issue stock.
People can understand maotai volume small reason is because the high concentration of chips, we are not willing to sell.
Foreigners do not understand.
In addition many foreign companies in the areas of corporate governance and compliance management some good experience, are available to domestic companies of good reference.
interviews with PostScript: , Jin and Yuan dynasties than there are difficulties at present, but it is only a microcosm of the Fund for small and medium-sized companies, Yi Qiang believes that problems in the industry will face a very serious problem is not fixed, their leave is not professional managers of helpless choice in strong shareholder presence.
In an interview, we feel that Yi Qiang industry there are many problems of a clear understanding of the Fund, the fund industry and the future development of the new Fund, differentiated clear views of the route. Strong left helpless choice is not so much disagreement with shareholders, we prefer as he explore new ways and new methods of fund development of the industry.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund on we, easy strong expression has struggle five years zhihou, on fund industry development of most profound recommendations.
How much love, get back up; the number of people, willing to wait ... ...
If you also have the opportunity, hope Yi Qiang also have the courage to "love"!
│ Investment Institution Investment Ning Peng new companies have no way out of the investment: a late start of operations of the fund company faces many challenges, how can the current market environment of tight encirclement?
Yi Qiang: Happy Valley enclosure now time is over, unless there is a great deal of courage and determination to carry out large inputs, otherwise it is difficult to go and other fund companies to seize market share. Now there are many new companies were established, but based on my experience, if this mode of operation of the new company is also in accordance with the present, I really do not see any profit in the company of hope.
I recently read that many business plans of the new company, I can say is too optimistic.
Early too optimistic, problems that may exist on underestimated when the company encountered difficulties in the future will be helpless.
Of the investment: you think that the new Fund will have no way to go?
Yi Qiang: If in now way does, absolutely no way to go. Accounts can be a sum, in now way, company opened the new Fund is generally 40-50 personal framework. Fixed overhead and salary needs to spend more than $ 30 million a year or so, rent 5 million per year, plus travel and banking sources some of the expenses.
Expenditures will reach 60 million-70 million per year.
The current market, a fund size of around 500 million made by the new company, 1.5% of management fees, in accordance with the proportion with large banks into, can only get up to half, divided into income after 3.75 million.
Expenditure is fixed, but income is only 3.75 million.
There, now is definitely not the practice.
Of the institution: any way to break through?
Yi Qiang: development of the new company must be to the differentiated road.
Although we all know that performance and channels are very important, but the new company may not be able to find the best talent, it is difficult to make a first-class performance, you must follow a different course.
Previously the early stages of development of the market is an extensive operation, more intensive cultivation is the result of smaller gains, fund companies must now have its own clear definition and a distinct characteristics, no differentiation strategy could not have succeeded.
Product innovation, channel to innovation, service innovation.
Of the investment: product innovation as we know, but channels how to innovate?
Yi Qiang: banks have a lot of invisible costs, spend so much money, just get a bank counter on qualifications. Invested in early if you have access to customer to the stability, also can be said to have an investment of inputs and outputs. In fact, and channels of cooperation is not fixed.
You spend money to send bank account manager training abroad, however, he only fund does not sell your, your input was lost.
Banks protect their customers, will not let you contact with the customer, never turned these customers into their own customer.
Should find a like-minded channels established long-term in-depth cooperation. Of the investment: how long do?
How deep?
Yi Qiang: you can find small and medium sized joint-stock banks or city commercial bank, established close strategic partners, is the relationship between fund companies and banks is relatively fixed. Fund company's product design, to give the partner customer tailored features. Starting from product design, collaboration with channels, depending on customer needs, establish a common understanding of both products.
Now this "sell Fund" concept and pattern must be completely changed.
We all know the theory, but now no one attempts to or not willing to try. Due to the relatively fixed channels, channels and customer service to work on more planning and stability, as long as the performance and stability, good expansion of channels and customer relationships inherent assets. Another aspect, because channels fixed, upfront investment of the Fund and costs will be significantly reduced.
Fund companies may now to maintain 3-5 bank account manager, now used only in one Central Bank within a limited area, natural marketing costs will be significantly reduced.
Of the investment: this model may be facing such a problem, small banks can sell out large scale?
Yi Qiang: previously only the size of big banks can sell, but the scale of big banks are now sold out. Industrial and commercial bank (601,398, unit) a year selling 30-50 products, and small banks like Bank of Shanghai a year sell buy 3-5 products.
Sell the scale would not vary.
But close cooperation and loose cooperation, there is still a great deal of difference. We previously thought was too narrow. Now in addition to Bank sales, there are many other models.
Now sales of third-party payment and independent institutions have become the new choice.
home from the Hill of the Fund for the year 2007 of the investment fund industry entered a period of low, what do you think the low tide? Yi Qiang: fund industry now is debt 07 Fund called the Grand development of the industry, actually caused a great deal of damage to investors, and baseGold company but also because of easy access to a large number of assets, have become complacent.
2007 buy funds that groups of people, I estimate there is also one of the 2-or one-third not out. At that time a good Fund of tens of billions of, into agreement with the Bank of the year.
Many investors have not out, now also in contribution management fees.
People see Fund of staff previously, will be respected, and now with a look of contempt for you.
Of the investment: do you have any signs of improvement or recovery?
Yi Qiang: there is already a lot of positive signs.
Release of the product distribution channel, although the small company brings a lot of pressure, so that small companies can also choose path of innovation and differentiation.
A year before approval of the two products for small firms is the kind of protection, but also limit the innovation of small companies.
Draft amendments to the law of the Fund in China mentioned the Fund investment restrictions on release, is also a positive factor.
Of the investment: If investors are injured, from the industry on the whole, who are vested, shareholders, banks are also practitioners?
Yi Qiang: the industry pay was too high, has become an important factor impeding the development of the industry.
Each job salary is reasonable should take a look at the creation of value and take the risk.
Fund Manager is guaranteed income down, great take bonus, however the up will have a lot of space.
Actually public placement Fund comparison with average market benchmarks, neither do performance royalty nor do absolute gains.
Not only are higher than the investment professionals in other industries, do public-fund of the world, in addition to Hong Kong, Singapore, China absolute income of the Fund Manager is already complete and international practice. Foreign fund managers as portfolio managers, portfolio does in fact just do it.
You earn the Fund last year to customers in the management of several hundreds of millions, but when you lose it?
Of the investment: fund industry-what are the causes of excessive pay do you think?
Yi Qiang: starting point for public placement fund industry in China is too high, although late, but the starting point is high, on top of financial industry in the first place, initially to join the industry was the most talented people.
Europe now or phone orders, while China fund industry initially uses the most advanced systems, configuration is also the highest talent.
There are reasons for supply and demand.
If is open, and open market, such a high salary levels, will be a lot of people to do it. Now many artificial factors, resulting in a scarcity.
Provisions such as the SFC, a Fund Manager can pipe the two funds.
Conception is good, hope that the fund managers can focus on one or two funds, it also became the important cause of Fund Manager hoard as a rare commodity.
strategy determines the success or failure of the company of the investment: as a professional manager, what do you think company's General Manager for the position of the Fund influence on the development of the company? Yi Qiang: in front of a large body, personal power is very small.
As the company's General Manager, just implementation of the strategy of the company.
Board decided to do the capital preservation fund, I went to execute the company's strategy, in accordance with the strategy to build the company's team. Explain the characteristics of the Chinese market with shareholders, investors will say that I understand you, why not try it?
He is also using his most familiar way to try, select themselves believe that the most suitable candidate, as a just resolution of the Board, General Manager of the performer.
Of the investment: now recognized core competence is the performance of the fund industry, how do you see this problem?
Yi Qiang: from the perspective of survival of the company, not pinning their hopes on performance on the long-term beyond the benchmark. At the time of doing a business plan must be assumed that the performance of the company is the market average, if, under this assumption the company's business model is also profitable, this is a rational, reasonable commercial plans. Any company that fully understand the importance of investment performance on company size, will do what we can achieve better investment performance.
But no one can guarantee results have been able to better than other companies, even if it is now more than hundreds of billions larger companies, so the average level of performance is important prerequisite for reasonable business planning and corporate strategy.
I see a lot of the company's business plan is size to 100 and even 20 billion within three years, one of the very important premise is good performance brought about significant growth in the size of the Fund, I think it is too optimistic and unrealistic plan. Judging from the company's strategy, excessive emphasis on investment performance, is a very dangerous trend. Investment performance is important, but not the performance as the only factor for the growth of the company.
Do not fund companies want to expand all their hopes on the investment performance.
Of the investment: If you only make the average market performance, how to make corporate expansion and profit?
Yi Qiang: still have to adhere to the path of differentiation.
First of all, products, innovative, able to attract customers and, secondly, differentiated channel, how to let more people know about my products.
Finally, differentiated services. Existing customer performance-sensitive or not sensitive customer.
As an enterprise asset management, all focus on the performance, fail to do that must be achieved, what do you do? In fact, this is a very dangerous tendency.
Many practices, bad for investors, the Fund also adverse long-term development of the company.
Of the investment: in addition to the differences of the road, you think the industry or what changes are needed? Yi Qiang: in the United States registered fund company, as long as the US $ 150,000.
Many companies do not have customer service personnel, not researchers, so live very well. Why not do the smaller is a long-term and stable development of the company?
Because of their large so much appetite.
In fact, marketing, customer service, background, research, outsourcing, personnel can significantly streamline.
Old company is now fine, the new company also not very understanding of the industry. Fund accounting, needs someone to review.
General for 4 person, 2 person is enough.
Do review each other.
Small fund self-contained, very no economies of scale. on foreign capital – yiyin China market of the investment: do you think today's Fund industry on offshore financeInstitution, do you still attractive?
Yi Qiang: fund industry like a besieged city, people want to go out in the city, people want to come in out of the city.
Some agencies are very clearly what they want to come in to do, for example, some small and medium banks (there are insurance companies) to be a fund company, their thoughts are clear. However some institutions (especially the non-financial enterprises) on the characteristics of the industry does not understand, prepare is not sufficient, assume that is simple.
Before you come in, expectations are high; after came in, being not acclimatized.
Most venture fund companies do well now, I think it is inevitable.
Of the investment: how to understand the "inevitable"?
Yi Qiang: trip fund industry itself, not much foreign financial institutions in China.
Foreign institutions operating in China, many of the products to be successful, service can be successful is rare.
Consumers and investors in China has its own characteristics, however very few foreign financial institutions to truly understand this point.
China investors on products of quality, and price, and return, aspects very sensitive, and on value-added service these aspects does not too sensitive, also does not willing to for of wrote value-added service more bear cost, for example recently withdrawal domestic market of hundred thinking buy may also faced also of problem; also a examples is China has been lack established in trust system Foundation Shang of broker system development of social background and Culture Foundation, in Fund of sales Shang is has been to Bank channel sales mainly, and abroad some to broker sales mainly of mode has is large of differences.
Of the investment: two talismans of foreign institutions are not working, how can it succeed in the Chinese market?
Yi Qiang: quantitative tools and analysis methods are a two-edged sword, are both advantages and disadvantages. In fact, many new products in the country, many of which are mature products abroad.
Foreign investment there is advantage in product design, including stock indices futures and the tools to design products.
, Boshi, Chinese-funded companies are not excluded in the South to learn from foreigners, but they do not require shareholders, knowledge.
Foreign investment in wind control also has a good idea, but needs to have a new understanding on the different market environment. Foreign design parameters and indices of the domestic market, all stocks have problems. Typical example of this is Mao (600,519, unit), because its turnover is relatively small, is listed as issue stock.
People can understand maotai volume small reason is because the high concentration of chips, we are not willing to sell.
Foreigners do not understand.
In addition many foreign companies in the areas of corporate governance and compliance management some good experience, are available to domestic companies of good reference.
interviews with PostScript: , Jin and Yuan dynasties than there are difficulties at present, but it is only a microcosm of the Fund for small and medium-sized companies, Yi Qiang believes that problems in the industry will face a very serious problem is not fixed, their leave is not professional managers of helpless choice in strong shareholder presence.
In an interview, we feel that Yi Qiang industry there are many problems of a clear understanding of the Fund, the fund industry and the future development of the new Fund, differentiated clear views of the route. Strong left helpless choice is not so much disagreement with shareholders, we prefer as he explore new ways and new methods of fund development of the industry.
ST Coke enterprises that Wang yawei gallon 72 million
4 quarter of last year Wang yawei helm of Chinese large gallon of 6.5 million shares, China policy gallon 2.5 million shares, total 9 million shares, gallon costs at least $ 8 or more, that is, once again invested more than $ 72 million, plus a 3 quarter investments should be more than $ 120 million. This researcher Wang Zhong you may have noticed, on the occasion of theme turns speculation after the Spring Festival, have a *ST unit, a month beginning on February 28, 2011, up 37%, and Judah did not do. It was *ST Coke. Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund for this only a unit, believe new express "make money" readers absolute does not strange, and last night, the unit annual report opened has recent rose of mystery--Wang yawei last year 4 quarter continues to wantonly gallon 9 million unit, to last year late has total holds 16 million unit, over shareholders number also reduced 8.4%.
Basic earnings per share and *ST mountain Coke from the 2009 loss per share of $ 1.32, transformed $ 0.11 per share for 2010.
Wang yawei gallon Luo Weiguang exit also remember in on October 27, 2010, *ST mountain Coke announced last year three quarterly Hou of first time, author in new express "make money" national first "Wang yawei latest layout large up end" a text, pointed out that as public raised "a brother" of Wang yawei and private star of William l. Rowe wide, actually rare in with only a unit Shang "jointly" heavy warehouse, select of also happens is a has picked licensing possibilities of losses unit--*ST mountain coke--as last year on September 30, Huaxia market and Huaxia policy total holds 7 million unit, William l. Rowe wide its two only new value products total holds 8.2 million unit, the inputs about 50 million Yuan. For what the public and private two masters in conjunction with the to be "delisted" so heavy cartridge on the stocks? Coke can copy *ST and *ST mountain of Changhe miracle?
At that time the author analyses, from the background, the possibility does exist. Actual control human Shanxi coking coal group, is located in this national coal's largest province of Shanxi group holding a large number of high quality coal resources. If the Group took out part of the resources into the *ST mountains Coke, the fundamental change will set are subversive. Signs and displays, the Group abandoned the shell resource there is little chance of.
Articles in particular that the "last September, former Chairman of the company have left, while incumbent Deputy General Manager of Shanxi coking coal group, Secretary of the Shanxi coking Group Chairman, Qu Jianwu joined the Board of Directors, Guo Wencang that also has group background, Guo Yimin and others joined the Executive team." Last night's annual report shows that last year Wang yawei in charge of the Chinese market and then in the 4 quarter gallon 6.5 million shares, China policy while gallon 2.5 million shares in total 9 million shares, gallon costs at least $ 8 or more, that is, once again invested more than $ 72 million, plus the 3 quarter of 7 million shares, has invested more than $ 120 million.
Old private brother Luo Weiguang has quit the top circulation shareholders. 6677 million net profit has solutions for delisting alert *ST Coke report shows, as the macro-economic recovery last year, coke and chemical products market improving step by step, the company made a product structure adjustment, the product gross profit margin increased. In respect of Government support, access to local enterprises the subsidies given by the Government at all levels. Achieve operating income $ 640 million, net profit of 66.7728 million Yuan.
In fact, as early as January 24, the company has released performance turn that pre-Ying. *ST Coke's recent sharp movements, new express "money" has also been given attention. Just 10 days ago, on March 18, "money" and "public and private with finger *ST Coke dry remove Onion article", special analysis of the background of its latest restructuring. Stating that "Shanxi coking industry in Shanxi province has issued the merger and reorganization of guidance, plans through mergers to the end of 2011 independent coking enterprises retained around 150 families. Shed light on the involvement of Government forces to the coal industry. Good diffuse at the industry pointed out that the Shanxi coking industry consolidation direction determines, consolidation or compared. The currently listed companies merger with Coke business consolidation opportunities. "Today, the *ST mountain Coke delisting warning has been lifted.
Although shares have risen more in the near future, but for calendar "restructuring King" reputation for Wang yawei, two consecutive quarter gallon, if there really are restructuring actions, for a total share capital of more than 500 million Coke shares, stock prices clearly should not be a target of more than $ 10. last year 3 quarter late Qian ten name unlimited sales shareholders holding name holding number (million unit) Xishan coal electric (000983, unit 's) 8804.5 new value 4th, collection trust 541.9 Huaxia growth (000001, Fund 's) securities investment fund 499.79 Huaxia market 450.06 Li Hanyu 278.98 new value 1 period 277.75 Huaxia policy 250 Li Hanming 213.39 Oriental securities 200.01 Zhang Zuding 161.04 last year 4 quarter late Qian ten name unlimited sales shareholders holding name holding number (million unit) Xishan coal electric 8804.5 Huaxia market selected 1100.24 Huaxia policy selected 500.05 CITIC Securities (600,030 , Unit), 420 East 6th collection assets management plan 353.09 Li Hanyu Li Hanming Yu Shan 237.18 era of baotou investment home buyers 161.96 Liu Tao 154.66
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund for this only a unit, believe new express "make money" readers absolute does not strange, and last night, the unit annual report opened has recent rose of mystery--Wang yawei last year 4 quarter continues to wantonly gallon 9 million unit, to last year late has total holds 16 million unit, over shareholders number also reduced 8.4%.
Basic earnings per share and *ST mountain Coke from the 2009 loss per share of $ 1.32, transformed $ 0.11 per share for 2010.
Wang yawei gallon Luo Weiguang exit also remember in on October 27, 2010, *ST mountain Coke announced last year three quarterly Hou of first time, author in new express "make money" national first "Wang yawei latest layout large up end" a text, pointed out that as public raised "a brother" of Wang yawei and private star of William l. Rowe wide, actually rare in with only a unit Shang "jointly" heavy warehouse, select of also happens is a has picked licensing possibilities of losses unit--*ST mountain coke--as last year on September 30, Huaxia market and Huaxia policy total holds 7 million unit, William l. Rowe wide its two only new value products total holds 8.2 million unit, the inputs about 50 million Yuan. For what the public and private two masters in conjunction with the to be "delisted" so heavy cartridge on the stocks? Coke can copy *ST and *ST mountain of Changhe miracle?
At that time the author analyses, from the background, the possibility does exist. Actual control human Shanxi coking coal group, is located in this national coal's largest province of Shanxi group holding a large number of high quality coal resources. If the Group took out part of the resources into the *ST mountains Coke, the fundamental change will set are subversive. Signs and displays, the Group abandoned the shell resource there is little chance of.
Articles in particular that the "last September, former Chairman of the company have left, while incumbent Deputy General Manager of Shanxi coking coal group, Secretary of the Shanxi coking Group Chairman, Qu Jianwu joined the Board of Directors, Guo Wencang that also has group background, Guo Yimin and others joined the Executive team." Last night's annual report shows that last year Wang yawei in charge of the Chinese market and then in the 4 quarter gallon 6.5 million shares, China policy while gallon 2.5 million shares in total 9 million shares, gallon costs at least $ 8 or more, that is, once again invested more than $ 72 million, plus the 3 quarter of 7 million shares, has invested more than $ 120 million.
Old private brother Luo Weiguang has quit the top circulation shareholders. 6677 million net profit has solutions for delisting alert *ST Coke report shows, as the macro-economic recovery last year, coke and chemical products market improving step by step, the company made a product structure adjustment, the product gross profit margin increased. In respect of Government support, access to local enterprises the subsidies given by the Government at all levels. Achieve operating income $ 640 million, net profit of 66.7728 million Yuan.
In fact, as early as January 24, the company has released performance turn that pre-Ying. *ST Coke's recent sharp movements, new express "money" has also been given attention. Just 10 days ago, on March 18, "money" and "public and private with finger *ST Coke dry remove Onion article", special analysis of the background of its latest restructuring. Stating that "Shanxi coking industry in Shanxi province has issued the merger and reorganization of guidance, plans through mergers to the end of 2011 independent coking enterprises retained around 150 families. Shed light on the involvement of Government forces to the coal industry. Good diffuse at the industry pointed out that the Shanxi coking industry consolidation direction determines, consolidation or compared. The currently listed companies merger with Coke business consolidation opportunities. "Today, the *ST mountain Coke delisting warning has been lifted.
Although shares have risen more in the near future, but for calendar "restructuring King" reputation for Wang yawei, two consecutive quarter gallon, if there really are restructuring actions, for a total share capital of more than 500 million Coke shares, stock prices clearly should not be a target of more than $ 10. last year 3 quarter late Qian ten name unlimited sales shareholders holding name holding number (million unit) Xishan coal electric (000983, unit 's) 8804.5 new value 4th, collection trust 541.9 Huaxia growth (000001, Fund 's) securities investment fund 499.79 Huaxia market 450.06 Li Hanyu 278.98 new value 1 period 277.75 Huaxia policy 250 Li Hanming 213.39 Oriental securities 200.01 Zhang Zuding 161.04 last year 4 quarter late Qian ten name unlimited sales shareholders holding name holding number (million unit) Xishan coal electric 8804.5 Huaxia market selected 1100.24 Huaxia policy selected 500.05 CITIC Securities (600,030 , Unit), 420 East 6th collection assets management plan 353.09 Li Hanyu Li Hanming Yu Shan 237.18 era of baotou investment home buyers 161.96 Liu Tao 154.66
Requirements of the Securities Industry A02ociation Fund adjustment shuanghui development valuation
For Fund on double meeting development (000895, unit 's) this only due to burst event and suspension of stock valuation problem, China Securities Industry Association Fund valuation group said, fund investment of stock appears suspension and has enough evidence indicates that suspension Qian closing does not reasonable of situation Xia, company should in unknown price principles of Foundation Shang by science fair of price adjustment valuation, to compression arbitrage space, confrontation arbitrage funds, protection long-term investors interests. Association Fund valuations group, said the shuanghui development of "lean" events are stock-specific risk, to simple reference index value judgement of market and industry, fund management companies are multiples of the universal application of law, and discounted cash flow method. Due to the Fund management company for the prediction of future events and shuanghui reorganization different views, the valuation prices given are also different, Fund valuations need to accept the market test. The Fund management companies on business for the valuation of stocks and stock anastomosis and active market performance after the resumption of proximity, will reflect the price level and the core competitiveness.
80% Fund positions back to long willingne52
Excluding fluctuations in the market value of all assets on effect of position of the Fund, Fund initiative as a whole gallon 0.24%. ⊙ This reporter An Zhongwen transferred from the Fund last week initiative warehouse distribution, 45.9% Active gallon of fund choices, active gallon range between 0%~3% 29.9% of these funds, in addition there are 16% of funds between active gallon range in 3%~5%. At the same time, select active jiancang 54.1% Fund, 42.1% Fund jiancang range between 0%~3% and, in addition, active jiancang ranges between 3%~5% of the 12% of the Fund. And Qian a week compared, last week select active gallon of fund number has reduced, but active gallon range relative larger of fund number has increased, while, active jiancang range relative larger of fund number has reduce, this is why last week select active gallon of fund number less than select active jiancang of Fund, but Fund overall still rendering out active gallon features of causes, this also from another angle description part Fund on afternoon confidence of upgrade also is more obvious.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund from Shang weekend of positions distribution view, positions level in 80%-90% of high positions fund number and positions in 90% above of super high positions fund number has increased, meanwhile, positions level in 70%-80% of fund number obvious reduced, and other positions level of fund number is basic keep does not variable, Fund of overall positions distribution appears has Shang moved.
Massive fund positions for an average of 81.75% last week, a week before the more active gallon 0.24%; medium-scale Fund positions for an average of 80.62%, active gallon 0.36%; positions for an average of 78.45% of small funds, active gallon 0.13%. 60 fund management companies in the last week, there are 31 funds mainly to active gallon, weeks earlier to increase 8, active between gallon all on 0%-3%.
At the same time, there were 29 funds mainly to active jiancang, active between jiancang similarly concentrated in 0%-3%. On the management of the assets of the largest of the six fund management companies, major fund companies on Saturday only Yi fang da select active jiancang, five other companies have chosen active gallon, Boshi Huaxia active and relatively large gallon range.
Tuesday, March 29, 2011
Capturing is selected in the first quarter of the Fund sad reminder unit 21 funds Fortunately, 6 cows in unit
Trainee newspaper reporter suiwenjing only have 4 trading days left in the first quarter of this year, the Shanghai 6.04% per cent in the nearly three months of this year, szse Chengzhi 3.88% per cent. At the same time WIND information display, since the beginning of this year, new mechanical and electrical (300,092, unit) by 30.33%, all listed in the a-share "sad reminder" of a stock. In addition, there are 22-only a shares fell by more than 20%. Discovery of the fund securities daily weekly surprise, these 23 only the "sad reminder" stocks, 19 only to funds to stocks, the total up to 82.61%.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund fortunately also is found has highlights. Securities daily under Fund weekly under WIND information statistics data display, a quarter yilai, CSI two cities gains over 50% of stock total 38 only, which *ST black of, and Tibet development (000752, unit 's), and sea welcomes shares (600,851, unit 's), and Jiangsu wuzhong (600,200, unit 's), and silver pigeon investment (600,069, unit 's), and JC copper industry (002171, unit 's) and oticon drug industry (600,466, unit 's), 7 only stock gains more is over has 100%. However, according to the Fund last year disclosure data displayed in the four seasons, in which 38 cattle unit, belonging to the Fund in the warehouse stock is only 6, 15.79%.
And above 7 per cent of bovine unit does not have a double into the Fund's top ten positions.
It is worth noting that is, penghua fund company 4 funds align yueda investment coming out this year rose to 54.27% (600,805, unit) that the 4 funds still heavy cartridge holds the unit and is the holder of the number did not change, the book floating about $ 225 million surplus. 21 funds hand 6 cattle unit chips penghua Fund for 4 coming out yueda investment Fortunately, few Fund was caught some outstanding cattle unit by the tail.
Statistical data show that 38 Jin Yi industrial Bull shares (601,002 shares), huaxin cement (600,801, unit), shore of shares (601,678 shares), giant cement shares, Jiangxi province (000789, unit) and 6 listed companies such as yueda investment fund by 12 company owned by 21 funds the four quarter bin.
Specific, these 6 cow shares are respectively 1, 5, 2, 4, 2 and 7 only fund warehouse holding 1.9317 million shares, 14.3888 million, 3.5 million units, six units, 18.0009 million units and 15.2519 million unit, respectively of circulation ratio of stock fund holdings, 0.25%, 3.18%, 2.49%, and 10.57%. Among them, yueda investment fund by 7 common phase, heavy cartridge holding 57.5158 million shares, holdings market value to $ 841 million, holding total circulation of more than 10% are 6 cattle unit warehouse most of the Fund in a stock. Worth pointed out that of is, 7 only heavy warehouse the unit of Fund in the, has 4 only from Peng China Fund company, specific seems respectively for Peng China China 50 (160,605, Fund 's), and fund General Hui, and Peng China industry growth (206,001, Fund 's) and Peng China power, above 4 only Fund total holds the unit 28.2995 million unit, holding market for 414 million Yuan, holding accounted for this only stock circulation disk 5.2%.
This complex rights 4 funds since the beginning of this year net growth rate-, 0.84%, and 2.71%, respectively. The securities journal funds weekly from 4 funds for the unit holding quarterly changes in the number of observed data perspective, 3 4 funds are new joined the unit in the last four quarter of heavy bunker, and three quarters of last year have to warehouse the Peng Hua trade growth in the last four quarters of the unit when the unit increased warehouse 99,900.
WIND information according to the yueda investment since the beginning of this year's gains amounted to 54.27%, if 4 funds owned by the company penghua Fund still serious warehouse holds the unit and is the holder of the number did not change, the book floating about $ 225 million surplus. dumen Cang Jin Yi industrial silver Agricole floating profit $ 1.38 million worth mentioning is that in 6 are captured in the Fund only in cattle unit, also stocks a fund dumen severe Jin billion industry.
The unit is silver Agricole fund agricultural earnings of the company's balanced and mutually beneficial (660,003, Fund) seasons last year disclosure data shows that the Fund last year, four-quarter moving in of the new unit, holding the number of 1.9317 million unit, holding the market value is $ 26.5608 million, holding the Unit disc in circulation 0.25%. WIND data display, Jin Yi industrial 71.85% per cent since this year, ranks 13th all a-shares rose list, is 6 funds capture cattle unit, one of the most prominent.
And from Fund last year seasons reported heavy warehouse data observation found, the unit only was agricultural silver meeting acting fund company its of agricultural silver meeting acting balance double Lee a only fund dumen heavy warehouse holds 1.9317 million unit, if this only Fund as currently still heavy warehouse holds the unit, and holding number is not occurs changes, is benefit Jin billion industrial this year yilai of high gains, the Fund book floating full up 1.3879 million Yuan. The securities journal funds weekly by observing Jin Yi industrial annual report of the recent disclosure of listed company data discovery, which is now only one of the top circulation shareholders Fund figure, changsheng Fund changsheng celebration of company separation Fund annual report data shows that the Fund holds 19.9997 million shares in the unit, holding the total equity2.71%, name of the unit's third-largest circulation shareholders. over 90% fund return home Qian huaan Po Lee name partial debt real heavy unit securities daily under Fund weekly from 21 only capture cattle unit of Fund belonging of 12 home fund company angle observation found, this 12 home fund company respectively for letter up o silver, and Peng China, and South, and cross silver, and industrial global (340,006, Fund 's), and huaan, and agricultural silver meeting acting, and sea rich pass, and Teda macro Lee, and Guo Lianan, and wealth and million home fund company. Among them, 4 funds owned by the company penghua Fund ranks among the 21 unique vision of the Fund, is a fund company involving the largest number of its funds.
In addition, huaan fund company has 3 funds, sea of Fortis, Guo Lianan, 4 owned by venture capital firms such as wealth, as well as thousands of families have 2 funds coming out of them. The securities journal weekly Fund based on the WIND information return performance of finishing above 21 funds this year found that complex rights net growth rate of 19 funds among similar comparable one-second camp before the Fund's performance over the same period, accounting for 90.48%.
More has 2 only fund high home similar can than Fund over performance first throne, specific seems respectively is huaan Po Lee and South constant Yuan two only Fund respectively heavy warehouse holds this year yilai gains for 56.12% and 54.27% of giant of shares and the Hyatt up investment two only cattle unit, this two only fund this year yilai return disaggregated partial debt mixed type Fund and capital preservation type Fund header name, complex right units net growth respectively for 5.54% and 6.19%. Xinda securities investment analyst Liu Mingjun the securities journal funds weekly in an interview, said Hua an baoli allocation fund prospectuses for investment ratio limit is defined for partial debt Fund, but this is the prior classification.
He continued to express, in the same period and performance comparison of partial debts in a mixed-type Fund, basic is the largest proportion of the Fund invested in stocks, so when the Fund stocks performance in good times, Hua an baoli allocation fund for more investment in the stock market and some obvious performance will become more prominent. Fund selected capturing "sad reminder" stock zirconium industry in the East (002167, unit) floating losses tie 6 Fund this year, decreased by 30.33% in new electrical and mechanical, all listed in the a-share "sad reminder" of a stock.
In addition, there are 22-only a shares fell by more than 20%, is surprising, these one-quarter less in stocks, 19 only to funds to stocks, the total up to 82.61%. 19 were inadvertently selected in the stock of the Fund, zirconium industry suffered heavy losses since a few years most of the East, down the 28.38%.
Seasons last year from the Fund data shows that the stock is held 17.0001 million shares by 6 funds totaling, total, could fetch up to $ 794 million shares, holding the Unit disc in circulation 9.73%. If the 6 funds are still heavy bunker holding the stock and hold shares did not change, book floating losses you suffer the share $ 4.8246 million.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund fortunately also is found has highlights. Securities daily under Fund weekly under WIND information statistics data display, a quarter yilai, CSI two cities gains over 50% of stock total 38 only, which *ST black of, and Tibet development (000752, unit 's), and sea welcomes shares (600,851, unit 's), and Jiangsu wuzhong (600,200, unit 's), and silver pigeon investment (600,069, unit 's), and JC copper industry (002171, unit 's) and oticon drug industry (600,466, unit 's), 7 only stock gains more is over has 100%. However, according to the Fund last year disclosure data displayed in the four seasons, in which 38 cattle unit, belonging to the Fund in the warehouse stock is only 6, 15.79%.
And above 7 per cent of bovine unit does not have a double into the Fund's top ten positions.
It is worth noting that is, penghua fund company 4 funds align yueda investment coming out this year rose to 54.27% (600,805, unit) that the 4 funds still heavy cartridge holds the unit and is the holder of the number did not change, the book floating about $ 225 million surplus. 21 funds hand 6 cattle unit chips penghua Fund for 4 coming out yueda investment Fortunately, few Fund was caught some outstanding cattle unit by the tail.
Statistical data show that 38 Jin Yi industrial Bull shares (601,002 shares), huaxin cement (600,801, unit), shore of shares (601,678 shares), giant cement shares, Jiangxi province (000789, unit) and 6 listed companies such as yueda investment fund by 12 company owned by 21 funds the four quarter bin.
Specific, these 6 cow shares are respectively 1, 5, 2, 4, 2 and 7 only fund warehouse holding 1.9317 million shares, 14.3888 million, 3.5 million units, six units, 18.0009 million units and 15.2519 million unit, respectively of circulation ratio of stock fund holdings, 0.25%, 3.18%, 2.49%, and 10.57%. Among them, yueda investment fund by 7 common phase, heavy cartridge holding 57.5158 million shares, holdings market value to $ 841 million, holding total circulation of more than 10% are 6 cattle unit warehouse most of the Fund in a stock. Worth pointed out that of is, 7 only heavy warehouse the unit of Fund in the, has 4 only from Peng China Fund company, specific seems respectively for Peng China China 50 (160,605, Fund 's), and fund General Hui, and Peng China industry growth (206,001, Fund 's) and Peng China power, above 4 only Fund total holds the unit 28.2995 million unit, holding market for 414 million Yuan, holding accounted for this only stock circulation disk 5.2%.
This complex rights 4 funds since the beginning of this year net growth rate-, 0.84%, and 2.71%, respectively. The securities journal funds weekly from 4 funds for the unit holding quarterly changes in the number of observed data perspective, 3 4 funds are new joined the unit in the last four quarter of heavy bunker, and three quarters of last year have to warehouse the Peng Hua trade growth in the last four quarters of the unit when the unit increased warehouse 99,900.
WIND information according to the yueda investment since the beginning of this year's gains amounted to 54.27%, if 4 funds owned by the company penghua Fund still serious warehouse holds the unit and is the holder of the number did not change, the book floating about $ 225 million surplus. dumen Cang Jin Yi industrial silver Agricole floating profit $ 1.38 million worth mentioning is that in 6 are captured in the Fund only in cattle unit, also stocks a fund dumen severe Jin billion industry.
The unit is silver Agricole fund agricultural earnings of the company's balanced and mutually beneficial (660,003, Fund) seasons last year disclosure data shows that the Fund last year, four-quarter moving in of the new unit, holding the number of 1.9317 million unit, holding the market value is $ 26.5608 million, holding the Unit disc in circulation 0.25%. WIND data display, Jin Yi industrial 71.85% per cent since this year, ranks 13th all a-shares rose list, is 6 funds capture cattle unit, one of the most prominent.
And from Fund last year seasons reported heavy warehouse data observation found, the unit only was agricultural silver meeting acting fund company its of agricultural silver meeting acting balance double Lee a only fund dumen heavy warehouse holds 1.9317 million unit, if this only Fund as currently still heavy warehouse holds the unit, and holding number is not occurs changes, is benefit Jin billion industrial this year yilai of high gains, the Fund book floating full up 1.3879 million Yuan. The securities journal funds weekly by observing Jin Yi industrial annual report of the recent disclosure of listed company data discovery, which is now only one of the top circulation shareholders Fund figure, changsheng Fund changsheng celebration of company separation Fund annual report data shows that the Fund holds 19.9997 million shares in the unit, holding the total equity2.71%, name of the unit's third-largest circulation shareholders. over 90% fund return home Qian huaan Po Lee name partial debt real heavy unit securities daily under Fund weekly from 21 only capture cattle unit of Fund belonging of 12 home fund company angle observation found, this 12 home fund company respectively for letter up o silver, and Peng China, and South, and cross silver, and industrial global (340,006, Fund 's), and huaan, and agricultural silver meeting acting, and sea rich pass, and Teda macro Lee, and Guo Lianan, and wealth and million home fund company. Among them, 4 funds owned by the company penghua Fund ranks among the 21 unique vision of the Fund, is a fund company involving the largest number of its funds.
In addition, huaan fund company has 3 funds, sea of Fortis, Guo Lianan, 4 owned by venture capital firms such as wealth, as well as thousands of families have 2 funds coming out of them. The securities journal weekly Fund based on the WIND information return performance of finishing above 21 funds this year found that complex rights net growth rate of 19 funds among similar comparable one-second camp before the Fund's performance over the same period, accounting for 90.48%.
More has 2 only fund high home similar can than Fund over performance first throne, specific seems respectively is huaan Po Lee and South constant Yuan two only Fund respectively heavy warehouse holds this year yilai gains for 56.12% and 54.27% of giant of shares and the Hyatt up investment two only cattle unit, this two only fund this year yilai return disaggregated partial debt mixed type Fund and capital preservation type Fund header name, complex right units net growth respectively for 5.54% and 6.19%. Xinda securities investment analyst Liu Mingjun the securities journal funds weekly in an interview, said Hua an baoli allocation fund prospectuses for investment ratio limit is defined for partial debt Fund, but this is the prior classification.
He continued to express, in the same period and performance comparison of partial debts in a mixed-type Fund, basic is the largest proportion of the Fund invested in stocks, so when the Fund stocks performance in good times, Hua an baoli allocation fund for more investment in the stock market and some obvious performance will become more prominent. Fund selected capturing "sad reminder" stock zirconium industry in the East (002167, unit) floating losses tie 6 Fund this year, decreased by 30.33% in new electrical and mechanical, all listed in the a-share "sad reminder" of a stock.
In addition, there are 22-only a shares fell by more than 20%, is surprising, these one-quarter less in stocks, 19 only to funds to stocks, the total up to 82.61%. 19 were inadvertently selected in the stock of the Fund, zirconium industry suffered heavy losses since a few years most of the East, down the 28.38%.
Seasons last year from the Fund data shows that the stock is held 17.0001 million shares by 6 funds totaling, total, could fetch up to $ 794 million shares, holding the Unit disc in circulation 9.73%. If the 6 funds are still heavy bunker holding the stock and hold shares did not change, book floating losses you suffer the share $ 4.8246 million.
Capital preservation fund old four no lo47 of South Haven years 25% the lead
As of March 14, 2011, 5 establishment, and even to survive only until 2011 the capital preservation fund accumulated net worth in $ 1 money week reporter Xiong Tingting/text above this spring is the spring of capital preservation fund. GF capital preservation raised $ 4.109 billion, build capital preservation and China universal capital preservation raised $ 3.126 billion and $ respectively, Cathay capital preservation and the great capital preservation is also raised. Before this spring, as one of the low-risk fund in capital preservation funds, have experienced are not short of winter, approval was once the capital preservation fund into anxiety.
Recommended reading · fengji Forum investment real disk week summary
· traditional fengji investment value ranking Wang yawei invisible heavy warehouse unit exposure Fund frequently attack marine engineering equipment foreign private: now a shares "over gold" GF Fund Feng Shubiao resigned introduction customer complaints Wang yawei ambush Nanjing high branch Fund adjustment is not suspension varieties valuation introduction dispute [hexun know] seeking heavy warehouse soldiers loaded a unit Fund however worth pleased of is, according to Shanghai fiscal deficit meeting statistics data display, as on March 14, 2011, 5 only 2011 zhiqian established, and even acquired of capital preservation fund Trojan NET are in 1 Yuan above, especially on September 26, 2003 established of South risk aversion value-added (202,202, Fund 's), Trojan NET has up 3.1088, Trojan income over 200%, established yilai years of income rate over 25%.
Now press is still in the break cycle, and set up a standard filter for more than a year, the traditional capital preservation funds only four, including YINHUA capital preservation value added (180,002, funds), South Haven (202,202, Fund) value-added, southern Heng Yuan, bank capital preservation (519,697, Fund) and mixed (Wind data, as of March 22). how the capital preservation fund capital preservation? method of capital preservation and appreciation of the capital preservation fund, mainly through the method of constant proportion portfolio insurance (CPPI) to achieve.
CPPI is a portfolio of international insurance policy, it is mainly through quantitative analysis, according to the fluctuations of the market to adjust magnification, amendment of risk assets (risk multiplier), to ensure that the value of the portfolio over a period of time of not less than the prior set a target value, so as to achieve the purpose of the portfolio's value. Buy fund analysts have made China told reporters: "the CPPI had now is a more mature technology, are using this technology in General, while specific technical difference on how to determine the safety mat. Fund managers are also important, of course, needed both to do investments in bonds, and stock investment, capital preservation fund, on the whole, of course also has a relatively fixed income a little.
"Under the consistent capital policies, what is the difference between the capital preservation fund design?
Buy fund analysts have made China told reporters: "first, capital preservation cycle, two years, three years and second, to capital guaranteed range, only covers capital guaranteed gold, is principal and also purchase third, is the Fund's assets in stock, warrants, bonds, bank deposits and investment restrictions between stock index futures. "Despite the low risk fund in capital preservation funds belonging to, but not without risk, the risk is that investors exit in the Middle, would not enjoy the guaranteed commitment. "In addition, existing in a capital preservation fund, most funds only to the amount subscribed capital preservation, do not purchase, the amount of capital preservation.
Investors only during the Fund raising new subscription of fund shares, and held to maturity, you can enjoy the principal protection.
Reviews four traditional capital preservation fund, reporters found that both low-risk in capital preservation funds, on the actual asset allocation, there is still no small difference, and the income of the Fund, according to their different style and specific configuration manager, there are also large differences.
four only traditional capital preservation fund, South risk aversion value-added leads YINHUA capital preservation (180,002, Fund 's) value-added, and South risk aversion value-added, and South constant Yuan capital preservation, and cross silver capital preservation mixed four only Fund of capital preservation cycle are for three years, performance comparison benchmark, except South risk aversion value-added Fund for "CITIC full debt index x80%+ CITIC comprehensive means x20%" outside, are for over Bank will save income rate.
South Haven value Fund, for the industry's first capital preservation fund, to scale and complex rights of more than $ 11 billion net growth rate (since the date of the establishment as of March 23, 2011) 267.66% achievement leads the capital preservation fund.
South Haven value Fund was established on June 27, 2003, there have been five fund managers managing the Fund, currently Manager for Sun Lu min.
As the industry's first eat "crabs" company funds related to people in the South, mainly the South Fund for bullish on capital preservation fund market development prospects in China, think it is very suitable for China's vast low risk appetite of investors a fund products, currently owned by the South Fund for individual investors accounted for more than two capital preservation fund is as high as 98%.
South risk aversion value-added 2003 years of Fund contract conventions, Fund early bond investment in assets configuration in the of proportion does not below 75%, thereafter in accordance with the investment combination insurance mechanism on bond and stock of investment proportion for dynamic adjustment, investment combination in the investment Yu stock assets of proportion ceiling as Fund early income situation and fund net level, in accordance with the constant proportion investment combination insurance mechanism for dynamic adjustment, to reached defense fell, and participation value-added of purpose.
With the rise of net, safety mats ever-thickening of the Fund, according to the 2010 annual report disclosure, its market capitalization than to 44.08% the net assets of the Fund, and the market value of net assets of the Fund than is 53.62%. These Fund told journalists in the South, southern capital preservation fund is the core competitiveness of CPPI strategy and a strong interest in optimizing the class strength and comprehensive asset management of fixed income assets.
In addition, the southern capital preservation fund for risk-free return and low risk gain (such as discount high directional add-issuance project) is also relatively successful.
Constant capital preservation was established in November 2008 in the South, was established by Jiang Feng as a Fund Manager. In accordance with the contract of the Fund, the proportion of funds invested in stocks, bonds, not less than the assets of the FundTotal value of 80%; invest in national bonds Fund of not less than net asset value of the ratio of 20%.
From the asset category configuration, the Fund more proactive and focus on value added.
According to the 2010 annual report disclosure, its stock market value of Fund assets to net worth $ 60.85%, net growth rate of 34.68% complex right on the date set up units.
YINHUA capital guaranteed appreciation Fund was founded on March 2, 2004, from inception to February 5, 2007, managed by the Fund Manager Wang Hua is now managed by Jiang Yongkang. In accordance with their contracts, securities investment in the allocation of assets of no less than 60%; fixed income financial products and assets other than bank deposits in the asset allocation in a proportion no higher than 15%. According to its 2010 annual report, the market value of net assets of the Fund than for 91.43%, the traditional capital preservation fund, the Fund bond configuration the highest.
Since the establishment of complex rights net growth rate of 76.42% as of March 23, 2011.
Bank of mixed capital preservation fund, was founded on January 21, 2009, the Fund Manager for the army.
Bank portfolio ratio of mixed capital preservation fund: income assets such as stocks, warrants accounted for 0-40% of the assets of the fund; capital preservation assets such as bonds, money market instruments, 60% per cent of the total fund assets. According to the 2010 annual report disclosure, its stock market value of Fund assets to net worth $ 29.58%, from the date of the establishment of complex rights net growth rate of 12.77% as of March 23, 2011.
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Now press is still in the break cycle, and set up a standard filter for more than a year, the traditional capital preservation funds only four, including YINHUA capital preservation value added (180,002, funds), South Haven (202,202, Fund) value-added, southern Heng Yuan, bank capital preservation (519,697, Fund) and mixed (Wind data, as of March 22). how the capital preservation fund capital preservation? method of capital preservation and appreciation of the capital preservation fund, mainly through the method of constant proportion portfolio insurance (CPPI) to achieve.
CPPI is a portfolio of international insurance policy, it is mainly through quantitative analysis, according to the fluctuations of the market to adjust magnification, amendment of risk assets (risk multiplier), to ensure that the value of the portfolio over a period of time of not less than the prior set a target value, so as to achieve the purpose of the portfolio's value. Buy fund analysts have made China told reporters: "the CPPI had now is a more mature technology, are using this technology in General, while specific technical difference on how to determine the safety mat. Fund managers are also important, of course, needed both to do investments in bonds, and stock investment, capital preservation fund, on the whole, of course also has a relatively fixed income a little.
"Under the consistent capital policies, what is the difference between the capital preservation fund design?
Buy fund analysts have made China told reporters: "first, capital preservation cycle, two years, three years and second, to capital guaranteed range, only covers capital guaranteed gold, is principal and also purchase third, is the Fund's assets in stock, warrants, bonds, bank deposits and investment restrictions between stock index futures. "Despite the low risk fund in capital preservation funds belonging to, but not without risk, the risk is that investors exit in the Middle, would not enjoy the guaranteed commitment. "In addition, existing in a capital preservation fund, most funds only to the amount subscribed capital preservation, do not purchase, the amount of capital preservation.
Investors only during the Fund raising new subscription of fund shares, and held to maturity, you can enjoy the principal protection.
Reviews four traditional capital preservation fund, reporters found that both low-risk in capital preservation funds, on the actual asset allocation, there is still no small difference, and the income of the Fund, according to their different style and specific configuration manager, there are also large differences.
four only traditional capital preservation fund, South risk aversion value-added leads YINHUA capital preservation (180,002, Fund 's) value-added, and South risk aversion value-added, and South constant Yuan capital preservation, and cross silver capital preservation mixed four only Fund of capital preservation cycle are for three years, performance comparison benchmark, except South risk aversion value-added Fund for "CITIC full debt index x80%+ CITIC comprehensive means x20%" outside, are for over Bank will save income rate.
South Haven value Fund, for the industry's first capital preservation fund, to scale and complex rights of more than $ 11 billion net growth rate (since the date of the establishment as of March 23, 2011) 267.66% achievement leads the capital preservation fund.
South Haven value Fund was established on June 27, 2003, there have been five fund managers managing the Fund, currently Manager for Sun Lu min.
As the industry's first eat "crabs" company funds related to people in the South, mainly the South Fund for bullish on capital preservation fund market development prospects in China, think it is very suitable for China's vast low risk appetite of investors a fund products, currently owned by the South Fund for individual investors accounted for more than two capital preservation fund is as high as 98%.
South risk aversion value-added 2003 years of Fund contract conventions, Fund early bond investment in assets configuration in the of proportion does not below 75%, thereafter in accordance with the investment combination insurance mechanism on bond and stock of investment proportion for dynamic adjustment, investment combination in the investment Yu stock assets of proportion ceiling as Fund early income situation and fund net level, in accordance with the constant proportion investment combination insurance mechanism for dynamic adjustment, to reached defense fell, and participation value-added of purpose.
With the rise of net, safety mats ever-thickening of the Fund, according to the 2010 annual report disclosure, its market capitalization than to 44.08% the net assets of the Fund, and the market value of net assets of the Fund than is 53.62%. These Fund told journalists in the South, southern capital preservation fund is the core competitiveness of CPPI strategy and a strong interest in optimizing the class strength and comprehensive asset management of fixed income assets.
In addition, the southern capital preservation fund for risk-free return and low risk gain (such as discount high directional add-issuance project) is also relatively successful.
Constant capital preservation was established in November 2008 in the South, was established by Jiang Feng as a Fund Manager. In accordance with the contract of the Fund, the proportion of funds invested in stocks, bonds, not less than the assets of the FundTotal value of 80%; invest in national bonds Fund of not less than net asset value of the ratio of 20%.
From the asset category configuration, the Fund more proactive and focus on value added.
According to the 2010 annual report disclosure, its stock market value of Fund assets to net worth $ 60.85%, net growth rate of 34.68% complex right on the date set up units.
YINHUA capital guaranteed appreciation Fund was founded on March 2, 2004, from inception to February 5, 2007, managed by the Fund Manager Wang Hua is now managed by Jiang Yongkang. In accordance with their contracts, securities investment in the allocation of assets of no less than 60%; fixed income financial products and assets other than bank deposits in the asset allocation in a proportion no higher than 15%. According to its 2010 annual report, the market value of net assets of the Fund than for 91.43%, the traditional capital preservation fund, the Fund bond configuration the highest.
Since the establishment of complex rights net growth rate of 76.42% as of March 23, 2011.
Bank of mixed capital preservation fund, was founded on January 21, 2009, the Fund Manager for the army.
Bank portfolio ratio of mixed capital preservation fund: income assets such as stocks, warrants accounted for 0-40% of the assets of the fund; capital preservation assets such as bonds, money market instruments, 60% per cent of the total fund assets. According to the 2010 annual report disclosure, its stock market value of Fund assets to net worth $ 29.58%, from the date of the establishment of complex rights net growth rate of 12.77% as of March 23, 2011.
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