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彩金沙娱乐平台:The fund manager is not "old".

时间:2018/4/2 17:51:27  作者:  来源:  浏览:0  评论:0
内容摘要: In recent years, the newly establishedfund company , some in order to win over talent, frequently hone senior fund managers in the circle; ...

In recent years, the newly established fund company , some in order to win over talent, frequently hone senior fund managers in the circle; but some of them because of their own strength is not strong, did not occupy the upper hand in the battle for talent, working as a fund manager universal business time Short, CITIC Investment Fund Management Co., Ltd. (hereinafter referred to as "CSC") belongs to the latter.

According to statistics, the average term of service of CSC Fund Managers was only 1.81 years. Of the 9 fund managers, only 3 have served for more than 3 years. Perhaps the relative lack of experience of fund managers, the general yield of many products of CSC is not optimistic. Since this year (as of March 29), the average return was only -0.08%.

What measures does CSCEC plan to take to increase product yield? How to strengthen investment research team construction in the future? Regarding the above issues, the “Investor Daily” reporter sent a letter to the relevant person of CITIC Investment. However, as of the press release, the company has not given the answer to the above question.

Fund manager is not enough "old to"

CSC was established in October 2013, and the public fund industry which has been developing for 20 years is a junior. The shareholders of the company include: CSC Securities Co., Ltd., Aerospace Science and Technology (000901) Finance Co., Ltd., Jiangsu Guangchuan Broadcasting Media Co., Ltd., the three companies hold 55%, 25%, and 20% of the shares of the company, respectively. Brokers are fund companies.

Although it has been established for more than four years, CITIC Jiantou has few fund managers with deep qualifications. The data shows that the current average working life of the company is 1.81 years, ranking 26th among 122 fund companies. This shows that, compared with most of its peer companies, the fund managers of CSC are still not "old enough."

Among the 9 fund managers of the company, there are 6 employees who have worked in this position for less than two years. Among them, the shortest serving time was the promotion from a researcher to a fund manager in May 2017, which means that the time spent in investment positions was less than one year. The company has only three fund managers and has been engaged in this position for more than three years.

Before this group of fund managers came to CITIC, they lacked relevant experience in investment. Of the nine fund managers in the company, except for the general manager of the company’s current investment department, Wang Qi, who had served as director of the securities and trading department of CSC, most of them were industry researchers before arriving at CITIC. Among them, five fund managers joined CITIC Construction Investment since 2016.

This group of newly recruited researchers, some of whom had worked in the relevant positions of CSC, did not get promoted as fund managers. For example, Yan Lingshan joined the company in August 2016 as a fund manager's assistant and was promoted to a fund manager in February 2017. He currently manages CITIC Products and other products; Zhou Ziguang joined CSC Capital in March 2016 from the Investment Research Department. The researcher started, and from May 2017 onwards, he was the fund manager of CITIC Jianzhi Zhixin IoT flexible configuration products.

The average revenue of its products during the year was negative

Among the present fund managers of CITIC Construction, only Hao Hao was employed at the establishment of the company in September 2013. From January 2014, Wang Hao officially acted as a fund manager to manage debt products. According to public information, Wang Hao has been a fund manager since 2014 and has been serving for 4 years and 1 month cumulatively. He is already the oldest fund manager of CSCIA.

Perhaps the lack of fund manager investment experience and excessive new investment has affected the yield of CSC's products. Since the beginning of this year (as of March 29), the average return of the company’s products was only -0.08%, and the performance of most of the products was ranked at one-half of the same category. Among them, the flexible configuration products in the letter Jianzhi Zhixin Internet of Things A and partial debt hybrid products CSC Credit Core A, CITIC Jian Rui Kang A performance is relatively poor, the annual return rate was -5.57%, -3.53 %, -2.72%, all in the same third place.

It is worth mentioning that CSC, which has been established for less than 5 years, is still showing relatively small scale data in the same industry. As of the end of the first quarter of 2018, the company has a total of 15 funds, and the public management scale is 8.574 billion yuan. , ranked the 90th among 122 fund companies.

Misplaced Awkward Positions is an important reason why some of CITIC Investment's products underperformed the market. In the fourth quarter of 2017, CSC Rui letter top three Awkwardness Wanhua Chemical (600309), Conch Cement (600585), Rongsheng Petrochemical (002,493). CSC Chi keepsake networking top ten holdings include: Hurray Cobalt (603,799), Sany (600031), Dongshan Precision (002,384).

display, CSC 2017 top three holdings were: Emori petrochemical, Conch Cement , Jiangxi Copper (600362), three companies shares were lower this year, down 6%, respectively, 16.35 %, 20%.

Converted stocks frequently affect investment income

Among the fund products of CITIC Construction Investment, 5 funds also hold Rongsheng Petrochemical, Conch Cement and Jiangxi Copper. In addition, Lan Huong Holdings , China Dashi (600176), Sany Heavy Industry is also in China Construction Investment in the top ten stocks in the fourth quarter of 2017.

It can be seen from this that the infrastructure industry holds a significant proportion of the positions held by CSC. However, in recent years, the infrastructure industry does not belong to the market hot spot, and the real estate investment rate of and and infrastructure investment have declined, and even to some extent, it belongs to excess capacity. Under this circumstance, why the CITIC Construction Investment Fund has a heavy position in the industry is puzzling.

The reporter noted that CSC has recently turned to Shigekura's infrastructure stocks. The company's fourth quarter of 2017 and the third quarter were almost completely different from the top ten, and only fresh environment (002573). The end of the third quarter of the year, there ten Awkwardness Wuliangye (000,858), Luzhou (000,568), Ophelia light, Angela Technology (002,635), Huatian Technology (002,185), deep Tian Ma A, Connie electromechanical (603111) etc. Before

earlier, CSC has been heavily loaded with medicine fan billion (002 019), AJ Group (600643), Health America Pharmaceutical (600518), Huadong Medicine (000,963), ZTE , Liaard (300296), Shanshan shares (600884) and other companies. It can be seen that CSC has relatively frequent exchanges and the industries concerned are also scattered.

For small fund companies, how to structure clear investment logic and improve management capabilities is a problem that needs to be solved in the market for a long time.


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