161 fund managers left office during the year!"Gongben Private" only achieves positive returns, and Ren Zesong, the former "Gong Treasure", was numb.

China Times (chinatimes.net.cn) reporter Song Jie Chen Feng Beijing reported Beijing

After a lapse of 5 months, Xiao Xiao, the original star fund manager of the Baoying Fund, who was announced in February this year, exposed the latest whereabouts and officially "run private" entrepreneurship.

On July 15, the China -Foundation Association announced the latest batch of filed private equity lists. It shows that Hainan Shangshan Rugao, which is established by Xiao Xiao, has successfully completed the record.

In the wave of funds "public", star fund managers are constantly joined. However, the performance in the first half of this year shows that although it has a more flexible position operation method, a higher revenue return, the performance is very average. Under the statistical caliber of the private equity row network, only 10 % of the fund has harvested positive income, and the performance of the increase in front products is inferior to the performance of public funds in the same period.

Double fund manager created private equity

Shangshan Ru was established on May 13 this year and completed the registration and registration of private equity fund managers on July 15. Its shareholders are three companies, including Hainan Shangshan Rugao (Limited Partnership), which holds 59%; If it is Link Investment Co., Ltd., hold 1%of the shares. Through the structure of the equity, the actual controller behind this emerging private equity is Xiao Xiao. He holds the equity of three shareholders and serves as a partner or legal representative.

Xiao Xiao is a master's degree in finance at Peking University and has 14 years of experience in securities. From July 2008 to February 2015, he served as a researcher in United Securities, Minsheng Securities and Founder Securities. It mainly studied the real estate industry and joined Baoying Fund in February 2015.

In 2021, the Baoying advantage industry, jointly managed by him and Chen Jinwei, achieved a yield of 100.52%, becoming one of the only three double funds of the year. He is also famous in the public offering industry. Baoying's advantage industry is currently managed by Chen Jinwei alone, with a loss of 23.95%this year.

From the perspective of investment styles, Xiao Xiaoxin has long held high -quality good companies and earns the company's value growth. Investment must keep the ability circle, invest in the areas that are most familiar and best at their best, and conduct long -term in -depth research on specific industries. His positions are biased towards traditional industries with mature business models.

Regarding stock selection, Xiao Xiao has expressed his preference for high -quality, stable growth, stable growth, valuation with a safe margin, and obtaining a stable cash flow return. He believes that the real high -quality company is particularly scarce, and puts money in the most assured basket instead of excessive dispersion.

Why "Ben Private"?

A fund manager in Shanghai told the reporter of Huaxia Times that the fund manager "Ben Private Tide" usually occurs when the bottom of the market shakes. This year, the A -share market has not performed well. The Securities and Futures Commission has implemented new regulations on June 20. Fund managers and other major investment researchers shall not engage in non -public fund investment management and other work within one year after leaving.

Tonglian data shows that this year, 161 public fund managers have left office, including star fund managers, including Dong Chengfei and Rural Bank Huili Zhao Li. Judging from the cause of the fund manager disclosed by the announcement, it is mainly "personal reasons" and "personal development reasons". Subsequent development proves that their whereabouts are mostly private equity.

A fund manager in Shanghai analyzes the reporter of the Huaxia Times. Compared with public investment, private equity funds are more flexible in terms of individual stock holdings and position changes, and the evaluation mechanism and incentive mechanism of private equity funds are more flexible, and they are more conducive to the boundaries of capabilities. Fund managers with comprehensive and balanced circles.

In March of this year, Zhou Yingbo, the top flow fund manager of the market called "Dabo", left the China EU Fund. Zhou Yingbo founded the Capital Capital in March and completed the filing on July 11, and began to prepare the company's first private equity product issuance.

After the original Xingquan Fund's top flow, Dong Chengfei joined Ruijun assets this year, the first batch of product Ruijun Chengfei series issued in early May. In the market in the market, it raised 4.5 billion yuan, which became rare this year. Private equity "explosion". The latest monthly report shows that as of the end of June, the income of Dong Chengfei Ruijun Chengfei Jin has exceeded 1.5%.

Only one -dollar fund harvested positive income

Under the statistics of the "Public Ben Private" of the private equity row network, there are 834 private equity products, but as of June 30, only 79 realized positive returns, accounting for 9.47%, less than 10%; There are only 10.

Among the funds that realize positive income, only Orange Capital Noah's Ark 3 of a Fund No. 3 in the first half of the year exceeded 40%, 49.28%, and rose 43.41%as of July 18. The fund manager of this product is He Xiao, the founder of Orange Capital, who originally worked at Xinhua Fund.

Noah's Ark 1, which is also managed by He Xiao, was 33.35%in the first half of the year, which is the runner -up of the income from the Penalty Fund. Starting from the third place under this caliber, the return of performance within the year dropped directly to less than 20%.

In terms of public funds, the commodity of commodities in the first half of the year was strong, and the income of related theme funds continued to soar, and the net value of the four funds increased by more than 50%. As for the active equity fund, the Yellow Sea of ​​Wanjia Fund won the top three of the income, and the yield also exceeded 40%.

Zhao Yuanyuan, the manager of the "Public Ben" fund, told the reporter of "Huaxia Times" that if the private equity research team is not equipped, the seller's research resources can also be reduced. If the fund manager depends more on the two during the public offer, it will face a lot of problems after playing private. The value of Tianswa increased by 56.29%in the first half of the year. Fund manager Sheng Junfeng served as the fund manager in Baoying Fund and Morgan Stanley Huaxin Fund.

As of June 30, Xiangrui -1 and Xunyu No. 1, a subscribed assets, lost 50.68%and 50.27%, respectively. The fund managers were Ren Zesong.

In the past few years, Ren Zesong was a well -known "public fundraising brother". In 2012, he served as a fund manager. In 2013, he won the championship of the partial stock fund of 80.38%. Honor, and successfully achieved beautiful results in 2014 and 2015, was once hailed as "public funds" by Kimin. However, in the following years, Ren Zesong exited in 2018 due to the constantly stepping on Leleshi.com, Erkang Pharmaceutical and other companies, and the decline in performance. According to the data of private equity ducts, the scale management scale is less than 2 billion yuan.

Editor: Editor Yan Hui: Xia Shencha

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