Kingson Quantitative Select Fund Manager reluctantly repositioned stocks and changed stocks repeatedly

Kingson Quantitative Select Fund Manager reluctantly repositioned stocks and exchanged stocks after class
The performance of the product fund manager cannot guarantee performance. This product fund manager has no choice but to “retire from class” and repeatedly commits stock adjustments and stock exchanges. In the end, He Shen operated the brokerage firm China to promise that after two local tyrants had 80 million funds to bid for the “control disk” fund, the fund managerChoosing a high position to change stocks, how unexpectedly, the first heavy stock that Hengshun Vinegar, which has just been transferred in, replaced the high level, which worsened the serious performance.  Kingson Fund announced on August 8 that some Kingson Quantitative Select Hybrid Funds changed fund managers. The original fund manager Yang Renmei left the position of fund manager of Kingson Quantitative Select Fund due to other work of the company. Zhou Yan will take over the fund.management.  Data show that the Kingson Quantitative Select Fund has been close to 10% in the last three months, and its net worth has increased by 16 in the last six months.73%, while the average return of similar funds in the last six months is 13.12%.Over the course of a year, the fund’s performance return was a repeating 28%.Compared with the previous CSI 300 Index, the index’s performance in the past year has increased by 10% and has increased by 12 in the last six months.99%.Elite, the performance of Jinxin Quantitative Preferred Fund is already a fund with a poor market.  According to the information disclosed by the fund after the tech stocks plummeted, according to the information disclosed by the fund, at the end of June of the year, Kingson Quantitative Select Fund only held six stocks, and the stock positions were abnormally concentrated, namely Hengshun Vinegar and Ping An of China.Hengrui Medicine, PICC, Moutai, Guizhou, and Yifeng Pharmacy accounted for 42% of total positions.  Yang Renmei said in his second quarter report that the fund’s positions are mainly concentrated in the field of large consumption, and large consumption is the main allocation object of the portfolio.A certain proportion of technology is allocated to the technology based on large consumption. After all, technology is an indispensable factor for social development. The development of technology has also stimulated the efficiency improvement brought about by the changes in the large consumption industry, which has led to rising corporate profits.In particular, some high-quality companies in the science and technology board will also become important pillars in the portfolio. After all, high-quality companies in the science and technology board may also become the mainstay of the market in the future.  According to public information, Yang Renmei graduated from Anhui University of Technology, Southwestern University of Finance and Economics, obtained statistician, financial expert, and obtained a doctorate in finance from Southwestern University of Finance and Economics.He successively worked for Swire Aircraft Engineering Co., Ltd. and Southwest Securities Co., Ltd.Joined Jinxin Fund in January 2018, and served as the manager of Jinxin Quantitative Selective Flexible Allocation Hybrid Initiating Securities Investment Fund and Kingxin Smart China 2025 Flexible Allocation Hybrid Initiating Securities Investment Fund since April 2018, August 2018Since then, he has served as a fund manager for the flexible allocation of hybrid-initiated securities investment funds of Kingshin New Energy Vehicles.  Considering Hengshun Vinegar, Guizhou Moutai and other 北京夜网 varieties performed extremely well during the second quarter of this year, but the fund experienced an 18% increase in the second quarter. Therefore, it can be roughly judged that the Jinxin Quantitative Select Fund was in the beginning of the second quarter.The position should be other stocks. Due to the extra seriousness of the fund, it replaced the variety at the end of the second quarter and bought the most popular large consumption “core asset”.In fact, with reference to the details of positions in the first quarter, it can also be roughly estimated that the fund’s heavy positions at the end of the first quarter are still concentrated in the technology sector. These stocks fell significantly in the second quarter. Therefore, the fund adjusted large positions at the end of the second quarter.The potential strategy may be to temporarily hold your feet.  Take Hengshun vinegar industry, which was purchased by Jinxin Quantitative Select Fund at the end of the second quarter as an example. In the four, five, and six months of this year, Hengshun vinegar industry has expanded by as much as 44%.Kingson Quantitative Select Fund mainly held technology and electronics stocks in the early part of the second quarter. Due to reduced contraction and breakthroughs, the fund’s dividends were serious. Fund manager Yang Renmei then chased up and bought the constant crazy Hengshun vinegar industry as the core of the fund.Assets, holdings accounted for up to 9% of the fund’s net assets.However, it was unexpected that Hengshun Vinegar, the largest heavyweight stock that has been chasing purchases, began to be significant on July 1, and from July 1 to August 8, Hengshun Vinegar accounted for a large decline.  In spite of its poor performance, Jinxin Quantitative Essence Fund is actually tied to the interests of fund companies and fund managers. The fund is an initiating fund, and fund managers and fund companies also own the fund at their own expense.Fund companies and fund managers pay their own money to hold funds with fund holders for a long time. They are considered to be a magic weapon for bundling interests to ensure the stability of fund performance.  But no one expected that the fund manager’s own pockets would not guarantee performance, especially the fund manager’s “boss”-the fund company also invested a part of the capital, but the proportion was not high.According to the information disclosed by Kingson Quantitative Select Fund, as of the end of the second quarter of this year, Kingson Fund Co., Ltd. held 1.98 million shares of the fund, and the fund manager held Kingson Quantitative Select share of 7.99 million shares. The fundThe company and the fund manager’s total accounted for 7 of Jinxin Quantitative Select Funds.75%.  Two retail-controlled funds become “special accounts”?  Although the performance of Kingson Quantitative Select Fund was extremely poor in the second quarter, its net worth dropped by 18% during the period.But the fund ushered in two local tycoons in June.  At the end of the second quarter, the timing of the performance of the Jinxin Quantitative Fund was very poor, and quite a few funds had already been filled.Imagination.According to the information disclosed by the Jinxin Quantitative Fund, two local tyrant-level individual investors subscribed in June this year.1.5 billion Golden Letter Quantitative Funds.According to the fund’s net worth at June 30th.At 695 yuan, it costs about 80 million yuan. This investment has also appeared. From July 1 to the present, the net value of Jinxin Quantitative Select Fund has dropped by 5.46%.  The data further shows that Jinxin Quantitative Fund’s public offering product is actually highly close to the “Special Fund Account”. Until the end of the second quarter, a total of three individual investors (including fund managers holding 799,799 shares) held Jinxin Quantitative.In the fund, the total share held by three retail investors accounted for 95%, while the share of two local tyrants reached 90%.  Due to the extremely high proportion of fund shares held by the two local tyrant-level investors, in a sense, this public fund product can be regarded as a fund account product. The influence of the two investors’ personal voice on the fund,It’s actually hard to ignore.Such a high proportion has also caused the fund to face extremely high redemption risks. Jinxin Quantitative Select Fund also admits that if a single investor holds a fund share proportion that reaches or exceeds 20% of the fund share,Faced with a large amount of redemption, the fund may not be realized in a short period of time, and it will be difficult to adjust the position of the fund.  In fact, when faced with a large amount of redemption, the fund manager will be forced to sell securities to meet the cash needs of the fund redemption, which may adversely affect the fund ‘s net asset value. In addition, due to the accuracy of the fund ‘s net worth calculation, or due to redemptionRebate income is returned to the fund assets, which causes distortion of the fund’s net value, and ultimately affects the investment operation and income level of the fund.