Poly Source Data Institute Huang Xiang,Deng Mei
Compiler: http://www.fundcn.org

From May 30, the Shanghai and Shenzhen stock market has experienced an adjustment, the amplitude of hu Share up 21.81%. During this period, 201 partial shares open-end funds accumulated net worth of growth is, for a comparable 213 partial shares open-end funds 94.37%. In addition, as the Fund stocks boom, eye-catching performance of the pre-exponential growth in the net value of the fund has lagged behind partial shares open-end fund average.

63 fund net growth of more than 5%

Statistics show that from May 29 to June 19. 213 comparability with the partial shares open-end fund net cumulative average growth rate of 3.89%. A total of 201 funds accumulated net worth of growth is, the total funds 94.37%, Among these 63 funds total net growth of over 5%, of which Jian letter HSBC dynamic growth and the highest growth rates in other funds were 12.53% and 10.88%. Similarly, the accumulated net worth of negative growth in the 11 funds, six decline in the 1% below and the largest decrease in the giant fields basis only 4.03%. This shows that in this round of adjustment, even if the poor performance of the Fund, accumulated net worth decline is not very big.

Correspondingly, the Shanghai and Shenzhen A-share the same period the overall situation is far worse will. Juyuan through statistical data, the comparable 1275 stock average rose to -6.09%, and 868 stock price rose to negative, accounting for 68.08% of the samples, of which stock price fell more than 20% of shares up to 303, and the decline over 30% have 21, * Qiu – lin SST and SST Changling decreases even reached 36.94% and 36.89%.

So, the current round of restructuring partial shares open-end funds strong resilience, Fund’s investment portfolio spread the risks of the market role is visible.

Partial shares open-end fund division

In May 29th best in the 20 funds in this round of adjustment of poor performance, Only about half of the accumulated net increase over partial shares open-end funds average, Only four accumulated net worth will increase more than 5%, De Sheng Hua Bao inflated prices and the best growth performance, net increase of 8.44% and 8.24%. The best pre-performance 10 Fund is six behind cumulative net increase in the average level, which, the best performance of early China platter, for a total net increase of only 4.21%; the worst performance of a long letter Jinli, cumulative net increase of 0.92%.

Pre-worst performance of the 20 funds, some varieties have been some positive changes. In this round of adjustment, four cumulative net increase over partial shares open-end fund average. Early receipts ranking is the third day of the rich accumulated benefits increased by a net 4.26%, and King Shun balance Admiralty stock and plot the South cumulative net increase distribution reach 5.66%, 4.33% and 4.87%.

Index-fund net growth slowdown

In May 30 since the adjustment rates, different fund products division. First, the eye-catching performance of the pre-Index Fund has been weakening. 14 Index Fund accumulated net worth of the average growth rate of only 2.28%. Partial shares backward open-end funds average 1.5 percentage points. These funds without an accumulated net worth of more than 5%, of which the best performance Shenzhen 100 ETF only 4.94%. and total net dividend ETF growth rate of -2.8%, we can see that in the adjustment of City Index Fund is obviously not dominant.

Secondly, the open-end bond fund performance is not a good solution. In this round of adjustment, the 14 ordinary open-end bond fund, accumulated net worth of the average increased by only 0.076%, which, 6 Fund also registered negative growth, CITIC-profit and profit-day decline in the rich countries were 0.7% and 0.58%. Judging from the current situation, the central bank’s interest rate rise in long-term context, the bond market will not be much improvement. medium – and long-term bond investment fund in order to obtain high yields, with a high degree of difficulty.

Finally, for pure equity funds and active allocation funds, in fact not much difference between the two. The current round of adjustment of the 10 best performing funds, they 5:5, but in the best performance of the five funds, Allocation Fund has only positive one.

Copyright Fund China 2009.

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