Apologies for 100 billion private equity due to poor performance?Latest response: Keep confidence in China's long -term economy!

China Fund reporter Wu Jun

Recent At the same time, it is also continuously reviewing and adjusting the combination to maintain confidence in China's long -term economy. Companies that have experienced cycles, maintained, and enhanced core competitiveness, should be bought and held for a long time.

In fact, the days of head private equity this year are not good. Nearly 80 % of 10 billion private placements still lose money this year, but many 10 billion private equity shows confidence in the market outlook in the investment monthly report.

Jinglin Assets apologize for poor performance?

Company response: undertake stress, constantly adjust the combination

This week, a report "A multi -product retracement of 20% of Jinglin Assets apologized: it is not completely denied that it does not make money for nearly a year or two", which has attracted greater attention in the private equity circle.

According to media reports, data from third -party platforms show that since January 2021, more than 18%of Jinglin Assets have been retracted by more than 18%, and many products have fallen by more than 10%since this year. In the 2022 -year -old product existence communication meeting in the middle of 2022, the relevant persons of Jinglin Assets said that from early 2021 to the present, the products of Jinglin Assets have been negatively returned for two consecutive years. More "rare". "Sorry to everyone, these two years of our performance are not good, and many investors who come in have lost money."

In this regard, Fund Jun learned the latest views of Jinglin assets through relevant channels. The company said that the combination of Jinglin's management has not been able to obtain positive income for more than half a year, which is also the stage where the relative and absolute performance of the combination has been relatively weak since the establishment of the group. "As a combination manager, it is of course anxious to see the net worth performance.

It is also said that Jinglin Assets admits that the company's products are currently close to the full warehouse, and the position of FOF products exceeds 90 %. In the latest investment monthly report, a certain product position of the company reached 96%, of which the Hong Kong stock position reached 62%.

In this regard, news from the channel also said that this should be the content of Jinglin Assets who are responsible for channels when communicating with the channel, and does not represent the company's overall attitude.

Jinglin: I am confident in the potential of Chinese companies

Should buy heavy positions and hold it for a long time

According to the information learned from the channel, the Fund Jun also shows that, regarding the current market, Jinglin Assets believe that the previous extreme expectations are reversed in the margin, the market is about to find the bottom of the performance, the policy surface is gradually recovered, and the valuation is close to the bottom. "Companies that have experienced cycles, maintained, and enhanced their core competitiveness should be bought and held for a long time."

Regarding investment operations, Jinglin Assets stated that in the past ten years of experience, the company will firmly implement the consistent investment concept after the test of multiple economic cycles, and adhere to the style of deep value investment.

At the same time, Jinglin Assets is more confident in the medium and long -term market. In terms of long -term dimensions, the potential of China's economy lies in the continuous growth and upgrade of domestic demand, the increase in the technology content of Chinese enterprises, and the more active reform and opening up bringing entrepreneurial innovation. In each era, a group of great companies and outstanding entrepreneur groups that belong to that era will appear in the asset market. "We are standing at the moment of the inflection point from Da to Strong. At this time, the situation is complicated and repeated. But as long as the correct methodology and values ​​are used to maintain objective and calm, find the best entrepreneur in China. History experience. Tell us that excellent companies always bring us super -expected surprises. "

"The development of no enterprise is smooth sailing. Our potential for Chinese companies is also confident. It will thrive in the commercial ecology built by predecessors. China will definitely have more world -class enterprises in the future." Jinglin Asset said.

There are still nearly 80 billion private equity losses this year

Private equity is more optimistic about the rebound of the market outlook

In fact, in the market environment that has intensified this year, the day of 10 billion private equity funds is not good.

According to data from the Chaoyang Sustainable Fund Research Platform, as of September 10, 94 domestic products under the products of 10 billion private equity institutions have a average loss of 5.04%since this year; Most of them are private equity of quantitative, CTA, and bond strategies, and some of the stocks of stocks such as heavy warehouses and other sectors.

At the same time, there are 72 tens of billions of private equity products that have been losing money this year, accounting for about 76.6%of the total proportion, mainly for stock multi -private equity institutions.

Specifically, the 100 billion private offering of Tamsui Investment and Fun Shi assets, which have lost more than 20%of its products this year; Hongcheng Investment, Hanhe Capital, Learning Assets, etc., its products have lost more than 15%this year; and East Eastern; and Eastern Ten billion private equity products such as harbor, Jinglin Assets, and Linyuan Investment have also lost more than 10%this year.

However, many tens of billions of private equity recently showed confidence in the market outlook.

100 billion private offering Tamsui Investment stated that the market is looking for new balance around performance. The traditional market expected traditional economic sector has been repaired since August. Some of the high -expected prosperity tracks have a phenomenon of sensitive and passivation to favorable passivation. The main line of market transactions will continue to be interpreted around the infrastructure improvement.

Looking forward to the market outlook, Danshui Spring Investment believes that the steady growth tone continues, and positive changes are found at the micro level. "After mid -August, the policy of stabilizing the economy and maintaining growth has been opened again. At the micro level, we found that in the recent intensive investigation, we found that entrepreneurs have increased their confidence in the end of April. Feedback. "Yuan Le Sheng's assets said that on the one hand, after adjustment from July and August, the pressure on the transaction level has been fully released; on the other hand, it has survived the weak period of data for about two months. The high prosperity industry and the superior companies can gather popularity and revitalize confidence through re -accelerated business data and performance. We are relatively optimistic about this. At the micro level, I saw a lot of prosperity industry leading companies that continue to rise. The PE valuation in 2023 has returned to 25 times the center. It holds a combination at such valuation levels. To be clearer, the investment win rate is very high.

Yuan Le Sheng's asset also believes that in terms of economy, regardless of whether the specific digital targets of the year can achieve, the government's determination and means of "stabilizing/maintaining" growth does not need to be questioned. This is important for investment. On the one hand, the relatively loose currency credit conditions provide basic support for the valuation center, including risk assets; second, steady growth to a certain stage, and will have the opportunity to expand in the fields of consumption and other fields. portfolio. In addition, after more than two years of adjustment, Chinese stocks (including some Hong Kong stocks) represented by the Internet (including some Hong Kong stocks) are very attractive even in accordance with the valuation standards of low -growth value stocks.

Shi Feng's assets said that the market is expected to fluctuate and structurally continues. The overall market of the market in July to August was shown in the market. The current market liquidity is very abundant, and the downward pressure on the macroeconomic economy has not shown signs of alleviating, resulting in the concentration of funds to small and medium-sized market value stocks. Looking at the future, the strength of the monetary policy on the economy is gradually increasing, but the economy has not yet formed the forecast of the bottoming back. Variety.

Edit: Xiao Mo

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