According to public information reports from China Asset Management, fund manager Li Yan recently invested 2 million yuan to subscribe for China Galaxy () and China Industrial Select () for 1 million yuan each. Li Yan said that this self-purchase is in response to the spirit of the high-level meeting in July to "activate the capital market and boost investor confidence" and hopes to work with investors to better seize long-term market opportunities.
Information shows that Li Yan has been a fund manager for 3.14 years and currently manages 3 funds with a total management scale of 4.998 billion yuan.
Data source: Dongcai data, as of August 2, 2023
The one with the longest management time is China Galaxy Mix A. It has been in office for three years. Since taking office, the return rate has been 86.36%, the annualized return rate is 22.62%, and the maximum drawdown is -29.72%. According to Dongcai data, this result ranks 37/2197 among its peers, which is quite good.
Data source: Dongcai data, as of August 1, 2023
The top ten heavyweight stocks of China Galaxy Mix A are as follows. From the perspective of holding style, it favors new energy. From the perspective of Shenwan's primary industries, they are mainly concentrated in the power equipment industry (91%) and the non-ferrous metal industry (9%). ; From the perspective of Shenwan's secondary industry, it is mainly batteries (79%), photovoltaics (12%), and industrial metals (9%).
Data source: Dongcai data, as of June 30, 2023
This article mainly focuses on China Asset Management Fund, which requires funds to be produced by fund funds. There are three fund types: stock hybrid, flexible allocation, and ordinary stocks. The latest issue of stocks accounts for more than 65%. The first fund manager will take office before December 31, 2022. There are 160 eligible funds.
The top 50 fund holdings at the end of 2022 are as follows: China AMC active stock fund managers relatively recognized by institutions include Zhong Shuai, Zhai Yuhang, Dai Ruiliang, Zheng Yu, etc.
Data source: Dongcai data, as of August 1, 2023
Among the 160 funds, as of the end of 2022, a total of 36 funds were held by internal employees with more than 1 million yuan. Among them, there are 14 funds outside the top 50 held by institutions in the above table, and 22 funds overlap with the top 50 held by institutions in the above table. Fund managers recognized by internal employees include Dai Ruiliang, Wan Fangfang, Zheng Yu, Zhong Shuai, etc.
Data source: Dongcai data, as of August 1, 2023
Combining the above two tables, 64 funds can be obtained. The combined values are shown below in descending order by fund size.These funds are more popular among institutions or internal employees.
Data source: Dongcai data, as of August 1, 2023
Only one category of multi-cap funds remains, with only 50 funds remaining out of 64. The 50 funds show the industries with the most increased holdings in the 2022 interim report and the 2022 annual report and their proportions, and are sorted as follows from high to low by the proportion of the industries with the most increased holdings at the end of 2022. The top-ranked funds are thematic funds with narrow industries, and the bottom-ranked funds are industry-balanced funds. Generally speaking, industry theme funds are suitable as "satellite" positions, while lower-ranked industry balanced funds are suitable as "bottom positions."
Data source: Dongcai data, as of August 1, 2023
Excluding the five funds that will take office in 2022, there are still 45 funds left. The display and turnover rate data are as follows. Fund managers at the top are relatively active, while fund managers at the bottom have a low turnover rate. Sun Meng, Zhai Yuhang, Tu Huanyu, Li Yan, Yang Yu, Zheng Zehong and others all have relatively high turnover rates.
Data source: Dongcai data, as of August 1, 2023
Only 20 of the above-mentioned fund managers have served for more than three years. The Sharpe ratios of the past three years are sorted from high to low as follows, and information such as performance returns, range annualized returns, range maximum drawdowns, and range Karma ratios over the past three years are also displayed. Zhang Chengyuan, Zheng Zehong, Zhong Shuai, Sun Meng, and Li Yan all performed well. Among them, the fund size of Zheng Zehong and Zhong Shuai exceeds 10 billion.
Data source: Dongcai data, as of August 1, 2023
If you want to sift through data to select a fund manager, read here. This is the information I want to know. If the turnover rate in the latest period is less than 200%, only the one with the longest management time will be retained among the multiple funds managed by the fund manager. After screening, 17 funds from 17 fund managers can be obtained.
Data source: Dongcai data, as of August 1, 2023
The position changes of 17 funds were sorted out. The data is organized as follows:
1. Compared with the first quarter, the increase in positions is obvious: 6 fund managers increased their positions in CATL, 3 fund managers increased their positions in Huaqin Technology, and 2 fund managers increased their positions in Steel Research Gaona, Huayou Cobalt, and Interested readers such as Putalei, AVIC Hi-Tech, AVIC Optoelectronics, AVIC Shenyang, etc. can do their own research.
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation. Just to facilitate understanding of the industry and fund direction.
2. The number of positions remains the same as in the first quarter:
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation. Just to facilitate understanding of the industry and fund direction.
3. Compared with the first quarter, the number of positions decreased:
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation. Just to facilitate understanding of the industry and fund direction.
4. The top ten companies with new positions at the end of the second quarter:
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation. Just to facilitate understanding of the industry and fund direction.
5. Companies that disappeared from the top ten shareholdings at the end of the second quarter:
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation. Just to facilitate understanding of the industry and fund direction.
Finally, here are China Asset Management’s stocks at the end of the second quarter of 2023:
Data source: Dongcai data. The display of individual stocks does not serve as specific investment advice and does not constitute an individual stock recommendation.
My articles are basically fund review notes. Quite a lot of information. All content is personal research. They are organized into documents for easy query and review. Please pay more attention to objective data. For the list of articles compiled in the latest issue, you can click: ""; Friends who need low-commission securities accounts can click: "".
Risk warning: The views are for reference only and do not constitute investment advice. Investors should carefully read the fund prospectus and fund contract before purchasing a fund. Historical performance is not indicative of the future. Market risk, the investment need to be cautious.
标签： #Fund Manager #Fund #Position #Li Yan
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