Heart puzzle unsolved, wait for the annual report.
Enter the end of March, 60 fund company's annual report, nice look good, finally appeared one by one. I first time from a number of PDF, DOC out of the Boshi Fund report. Due to the time when a confused--why is Bo?
Why it would be the last year, overall losses of up to fund company? And General Manager of the Boshi Xiaofeng has several sides of the rim, he is one of the fund industry's prestigious leader. And Bo last year at the same time promoted 5 initiatives such as Vice President, is also a path-breaking. But the following data is still is a fact: 8.627 billion 2010 Boshi fund losses higher ranks first in the industry-wide, more than 3 billion more than the second Bank of Schroeder. Recommended reading · fengji Forum investment real disk week summary
· Xia stage fengji investment policy a quarter three into unit base are income Huaxia Shanghai composite 50 last week shrink 112 million copies a quarter 6 unit with into Wang yawei Sun Jianbo Hogen *ST Zhang unit recombinant by Wang yawei ahead of latent unit base first quarter 80% gaofu Everbright small disk bottom Fund 3.5 years profit total over billions of Yuan [hexun know] GF domestic demand will cast how Bo Shi what as this?
surface answers LOWERED available – ask a people in the industry, he can break the fingers to count you a yiersanlai. For example, in 2010 an unlucky year.
CSI 300 index down 12.51%, the Shanghai composite index fell 14.31%.
For example, in such a market scale of course will lose more.
For example, Bo optimistic about underestimating the value of the market when blue-chip, severe ate during the differentiation of losses in the market.
But none of these seem closer to the answer let me real doubts--at least they are not.
You can also see the bad-2010 market, but there are still more than half of the fund company does not have losses; Boshi although big, but has not in the top three in the industry and, more importantly is, Bo bullish on the market while blue-chip can understand, but as a large company management over more than 20 funds, why the whole fiasco? In fact, the third issue is the question I have not figured out: Boshi fund company was the first to promote diversification of styles, 7 Styles Panel before opening in the atmosphere.
But this time, diverse style has gone?
As you know, in 2006, Boshi Fund group, began the investment sector is divided into multiple styles, there is value group, growth groups, mixed groups, alternative groups, ETF and quantitative investment group, fixed-income group and many style categories.
Boshi Xiaofeng, General Manager a year ago in money week interview admits that this is done so that investors can have more choices.
We can also see Boshi paid a lot of effort, early all-round frame.
In Bo, emerging in the annual report, fund manager Liu Peigang and Liu Yanchun says: two points worthy of reflection, is a new industry overall configuration is not high enough to have been optimistic about missed opportunities for higher income sth Please note: the Fund's name is called the "new growth".
But fund managers regret are "has been promising new industries overall configuration is not high enough." Data show that during the period of the Fund reported net growth rate is-6.39%.
While the junior and the gem index reaching new highs, small rose 21.26% for the whole year. So, I can understand the value group of Bo theme funds last year dropped by more than 10%, I can accept the funds Manager Deng Xiaofeng apology expressed in the annual report to the holder.
But I cannot understand why the promising large blue-chip, a decision will be fully affect Bo multiple styles of the Panel, to Assembly 2010 overall losses for the first of the year.
In the interview a year ago, Xiaofeng said, want to group by investment style to solve "style drift" problem, that different styles of fund managers focus their expertise. It seems now that road resistance and long.
