1.The latest news from well-known fund managers

Wu Xingwu: Reducing positions in international medicine

According to data from May 15, Wu Xingwu's Guangfa Healthcare shares appeared in the latest list of the top ten tradable shareholders announced by International Medicine, a decrease of 9.115 million shares from the end of the first quarter. Wu Xingwu's current management scale is 10.788 billion yuan.

II. Today's Fund News Fast Facts

The performance of the 10 billion fund rebounded

As the equity market fluctuated and picked up, the 10 billion active equity fund group managed by Star Fund managers ushered in a rebound in performance. Products managed by Zhang Kun, Xie Zhiyu, and Zhu Shaoxing rebounded more than 20% from February lows. According to the data, as of May 15, out of 28 active equity funds (calculated by combining shares) with a current market consolidation scale exceeding 10 billion yuan, 19 achieved positive returns during the year. Among them, Dacheng's high-tech industry topped the list with a yield of 19.88%. Yinhua Wealth Theme, Ruiyuan Equilibrium Value for three years, Yifangda Consumer Industry, and China and European Era Pioneer all had annual returns of over 10%.

Nearly 90% of dividends-themed funds surged during the year

According to the data, up to now, nearly 90% of dividend-themed funds in the entire market have fluctuated profits during the year. 61 products have achieved annual surpluses of 10% or more, and 3 products have surged profits of more than 20% during the year.

The strategy of small and micro capitalization stocks is quietly changing

Many of the former “magic foundations” have now changed the direction of investment. Take the Jinyuan Shunan Yuanqi flexible allocation mix, which earlier targeted the small micromarket circuit. From 2020 to 2022, the product's annual yield exceeded 30% for three consecutive years. Judging from its past positions, from the fourth quarter of 2020 to the fourth quarter of 2023, almost all of the heavy stocks of this product were small and micro capitalization stocks. However, the latest quarterly report shows that as of the end of the first quarter of this year, out of the top ten heavy stocks with a flexible allocation mix of Jinyuan, Shunan, and Yuanqi, 8 companies all had a market capitalization of over 20 billion yuan; only Chuanhuan Technology, the 10th largest stock, had a market value of less than 10 billion yuan. The market capitalization of its heavy stock companies such as Tianfu Communications, Sailun Tire, and Satellite Chemical all exceeded 50 billion yuan.

The third anniversary of the approval of public REITs The scale exceeds 100 billion

In May 2021, the first batch of 9 public REITs was officially approved. By the end of the first quarter of 2024, there were 35 public REITs with data available in the entire market, with a total scale of 107.647 billion yuan.

High-performing sub-new funds face the risk of liquidation

According to the data, most of the second new funds have been established for less than a year, and have reached the top three performance rankings in various categories. It is worth noting that among these high-performing funds, there are product announcements that are at risk of liquidation — the fund was established less than a year ago, and its earnings since this year are close to 10%, ranking third among all FOF products.

Another public offering copy of previous announcements

On May 16, the China Post China Securities 500 Index, a product of the China Post Fund, issued a correction notice on the first quarterly report. It corrected and apologized for the “4.4 Analysis of the Fund's Investment Strategy and Operation During the Reporting Period” in the report. The content is the same as the content of the fund's interim report last year, involving a review and outlook on the market.

Previously, the content of the 2023 annual report of Huaan Fine Life, a product owned by Huaan Foundation, was consistent with the content of the 2022 annual report. Errors in regular fund reports are not an exception. According to incomplete statistics, a total of 21 fund companies have issued corrective announcements for quarterly reports and annual reports that have been published since this year.

Private equity purchases exceeded 400 million yuan during the year

On May 17, Jukuan Investment issued an announcement stating that Jukuan Investment and employees raised 20 million yuan of their own capital to purchase the company's products this month. According to incomplete statistics from the Private Equity Ranking Network, as of May 17, a total of 7 private equity firms have issued self-purchase announcements this year, with a total self-purchase amount of 401 million yuan.

Among them, 10 billion private equity was the main self-purchasing force. Hainan Shiva, Evolutionary Asset, and Magic Square had a combined self-purchase amount of 313 million yuan, accounting for 78.05% of the total self-purchase amount. The average revenue of 75 10 billion private equity firms in April was 1.26%. Among them, Liang Hong's Hainan Shiva private equity performance ranked first in the 10 billion private equity club.

III. Recent developments in fund products