Chinese fund signs up for Hui Jing of reporter Fang Liliu
Another be without be concerned about explode paragraph, be in early this year April the last ten-day of a month, new fund of Zhang Kun of manager of fund of Yi Fangda star be about to head the message of hair circulates in fund group, cause attention of the height inside course of study.
Now, the Yifang that Zhang Kun steers a boat amounts to high grade enterprise 3 years hold period mixes fund first days to issue, insanity of each big channel open brushs screen mode. 8 billion, 14 billion, 19 billion, 30 billion... after open quotation, data of sale of mixture fund of company of Yi Fangda advantage is constant refresh. Feedback according to channel message, end afternoon at 5 o'clock, sales volume is amounted to about 35 billion.
The near future, the fund company such as Yin Ruixin of southern, labour explodes in succession of fund fund roll out, this also is aided directly push whole of amount of total collect of fund of rights and interests of a month exceeds 200 billion yuan recently, become a small climax, also bring bigger increment to the market. From fund stock storehouse in light of, storehouse of state-private collect fund be in perch, attitude of the city after valueing is apparent.
Mixture heat of high grade enterprise sells Yi Fangda 35 billion
Leave before selling, already was by definition of each big sale channel " sunlight radical " Yifang amounts to high grade enterprise to mix fund, be without be concerned about one day now carry out exhaust.
Now morning open quotation 1 hour, channel comes out to just amount to high grade enterprise easily to mix fund to sell amount to had been broken through 8 billion, because this fund set the collect upper limit of 8 billion, this also means Yifang to amount to high grade enterprise to mix only put on sale 1 hour namely by " the second is smooth " .
End at 11 o'clock, a personage of bank channel sale discloses, yifang amounts to high grade enterprise to mix sale amount to exceed 14 billion yuan, afternoon at 14 o'clock, the newest sale data that channel transmits has achieved 19 billion yuan.
Reduce ceaselessly as scale matching carry out, many investor increase subscribe capital in succession, end at 15 o'clock closing quotation, medium of communication of bank of the bank that enrol business, the people's livelihood, transportation bank and each large certificate business has ended collect, only a few channel such as remnant construction bank, industrial and commercial bank still are in sale, yifang amounts to high grade enterprise to mix subscribe capital also take advantage of an opportunity is broken through 30 billion close greatly. Afternoon at 17 o'clock, channel personage discloses, this fund sales volume is about 35 billion, predict to match carry out proportion 23% .
"Explode the fund manager that fund fund is born or approbates backside because of everybody. " personages of afore-mentioned bank channel sale say, high grade company blends Yi Fangda plan to hold the post of associate with of fund manager Zhang Kun long-term history outstanding achievement is outstanding, be this fund sell like hot cakes advocate because of. Look in him, do poineering work board register make wait for a series of reform systems to be about to roll out, individual investor chooses a difficulty to also be increased subsequently, the fund that many investor are willing to choose to actor or actress beautiful fund manager manages more is long-term hold.
Relevant data introduces, high grade company blends Yi Fangda plan to hold the post of fund manager Zhang Kun, it is Master of Tsinghua university a Confucian school of idealist philosophy of the Song and Ming Dynasties, negotiable securities is as long as 12 years from industry fixed number of year, he holds the position of Yifang to amount to foundation president at present, administer includes the pannikin in Yi Fangda, easy Fang Daxin agile configuration blends filar route, easy Fang Dala prepares concentration to mix wait for 4 fund, end this year first quarter end, its individual manages dimensions to had exceeded 30 billion, under photograph comparing, entire industry manages dimensions to exceed the manager of fund of active rights and interests of 20 billion to be less than 30.
Long-term investment outstanding achievement of Zhang Kun also can be encircled can nod, wind data shows, he from September 28, 2012 the pannikin in administer Yi Fangda mixes fund, end on June 14, hold a post period redound 417.76% , year change redound to exceed 23% .
Now evening, yi Fangda also amounts to high grade enterprise to mix fund to end the announcement of collect ahead of schedule in Yifang of government-owned net hang out.
Heavy storehouse concentration spends on the low side of the tall, rate that change a hand
Maintain a warehouse from associate with quarterly reports look on the circumstance, zhang Kun holds a storehouse to show heavy storehouse the investment characteristic that spends on the low side of the tall, rate that change a hand centrally.
One quarterly reports shows mixture fund of the pannikin in Yi Fangda, before Zhang Kun 10 old heavy warehouses aggregate occupy proportion of fund net value to be as high as 80.23% , achieve its to hold a post period inside new tall. And from 2018 four quarterly reports rise, before the pannikin in Yi Fangda mixes 10 old heavy warehouses aggregate hold proportion of fund net value all the time not under 70% .
End first quarter end, airport of old cellar or pit for storing things of city of fluid of Maotai of Hua Lansheng content, Guizhou, 5 grain, Lu, Shanghai a before the pannikin in listing Yi Fangda mixes fund 10 old heavy warehouses. 10 old heavy warehouses in, guizhou Maotai from 2013 2 quarterly reports rise, before appearing in its all the time 10 old heavy warehouses list, hold time has exceeded 6 years up to now, another liquor -- 5 grain fluid is held when grow to also exceed 6 years, airport of Lu city old cellar or pit for storing things, Shanghai, Hua Lansheng content, Home Haierzhi, ophthalmology love Er time also exceeds a hold 2 years. Before connecting passenger car midway to be exited for a time besides eaves 10 old heavy warehouses, most a before be being resided firmly all the time all the year round 10 old heavy warehouses in list.
Zhang Kun generalizes his investment style for: The abidance that pursuit enterprise issues in certain and safe limit grows accrual, the competition ability that pays close attention to an enterprise mainly, moat (competitive advantage) , the commercial pattern, capacity that creates free cash to flow. Discover the company that has long-term growth capacity hard, buy below the circumstance with appraise value relatively reasonable standard, medium center hold for a long time.
Product of banking of China peaceful negotiable securities invests report intermediary carry on, zhang Kun is being chosen when value every free cash to flow more, have breath is indebted lead two index.
Zhang Kun says, in the long run, the value of the enterprise is to depend on free cash flows fold now. A having a lot of companies is to have profit, but free cash flows very weak, this kind of enterprise is not our investment mark, look for a long time to create value very hard also to partner. So every free cash flows is one of a the business is valuable fundamental premise conditions.
Have breath is indebted certain level can reflect ratio index ability of enterprise oneself hematopoiesis. Because of A company very few debt counter-purchases company stock, to outstanding hematopoiesis ability appears on the market by force for the company, can flow very quickly through managing generation ready money, thereby have breath is indebted reduce a very low level. The commercial pattern that this also reflects a business on certain level is outstanding, this also is a main judgement index. These two index are so outstanding to judging each industries the enterprise is very important.
Zhang Kun is in speak of when holding a concentration to spend, express, "The product that I manage looks from the history, concentration is spent taller, and change hand rate compare low. Spend about concentration, I still believe what Buffett says " hold your egg in a basket, the basket that values you next " . Do very thorough research, heavy on this foundation storehouse hold, still come loose play a lot of are bought like the gun, but does main to the enterprise area understand without development? I believe from will for a long time look, risk of the first kind of means can accuse more, long-term earnings anticipates more easily. Long-term earnings anticipates more easily..
He says, the risk of be issued to lower levels that invests combination is not to pass a storehouse go pilot, the alternative that passes specific mark however goes pilot. Go considering an enterprise to manage meeting generation below the most difficult situation with slashing eye what kind of result and appeared after this kind of result, is the stock met be issued to lower levels how many? If the company is potential risk of be issued to lower levels is bigger, even if the likelihood has,compare rise greatly space, also won't bring into combination come in limits.
"Asset of rights and interests is long-term and compound yield is top in all asset, this among them a fundamental condition is existence wave motion, high yield is the reasonable compensation of tall wave motion on certain level, if not be willing to bear,fluctuate, the fixed income that can accept low yield only kind asset. In investment, I am answered without sedulous control remove, I do not think I have the capacity that judges big city, I believe to want a company only the choice is right, the share price of this enterprise is met one round one round ceaseless innovation is tall. " Zhang Kun expresses.
Explode since June paragraph frequency goes out
Since June market concussion, but new fund is issued fiercer, also aid pushed new fund dimensions to be climbed successively litre.
The Yifang end May amounts to fund of proportionate growing stock to establish dimensions to approach 27 billion yuan, ask a vessel for a time inside year head hair scale is the largest slant model fund. And when separate half month, this one record again by refresh, fund of southern June growing pioneer sucks gold one day to exceed 32.1 billion yuan, become inside year head hair scale is the largest slant model fund, also be inside year head the fund with hair top scale, it is afterwards more growth of fine fact strategy, promote completely convenient later, history on first collect dimensions ranks the active rights and interests of the 3rd kind fund. The fund manager Mao Wei of southern growing pioneer and Wang Bo, innovation of southern science and technology manages before this, establish accrual more than one year to exceed 80% .
Nevertheless, this Zhang Kun's Yifang amounts to high grade enterprise the likelihood sucks golden amount one day to may surmount southern growing pioneer.
Redound of wide hair character mixes low-key on June 10 hold water, collect portion amounts to 7.903 billion, collect date is collect to came on May 22 on June 4. And this fund is to draft by Zhang Dong one in control of, the product that can offer main invest in fine quality, service can satisfy the industry of demand of people life character. Zhang Dong has 12 years of negotiable securities to manage experience from fund of nearly 4 years of industry fixed number of year, fair collect, administrative fund outstanding achievement is better.
More many channel messages come out all sorts of exploding fund fund, like boom of Hua Taibai luck actor choosing announces to end collect ahead of schedule, written guarantee quickly inside 4 days collect, channel comes out dimensions of this fund collect exceeds the message 5 billion. Come from channel message to still show, dimensions of collect of fund of an active rights and interests exceeds 4.5 billion. The fund manager of these two fund is Zhang Hui, Li Jia to put respectively, also have market impel power very much.
Be worth what carry is, from channel understanding arrives, written guarantee the labour silver-colored luck of collect believes high quality to grow ahead of schedule now a hair exceed one billion four hundred and ten million and sixty-five thousand four hundred and eight; This fund also is by this fund will by have 23 years of TMT from already check big Ga Zhang Jisheng and the Yuan Fang of Taurus fund manager that are good at consuming mining greatly are collective in control of, be approbated it is thus clear that by market height.
Dimensions of fund of rights and interests of a half moon exceeds 200 billion
Explode in these fund fund is aided push under, up to on June 15, since May, only in time of a half moon, hair of new fund of rights and interests already exceeded 200 billion all right.
WIND information data shows, in May the 1 rights and interests that comes to held water on June 15 kind fund (include a share model, mix model, index) achieve 98, aggregate collect dimensions achieves one hundred and eighty-three billion two hundred and forty-nine million yuan. If calculate,just amount to high grade enterprise easily now fund head collect exceeds 30 billion, mean namely establish dimensions of fund of rights and interests to exceeding 200 billion with respect to this paragraph of time.
The capital of new fund collect will bring more for the market new " ammo " . Be like the average storehouse according to 60 ％ computation, the near future sends rights and interests newly kind the increment fund that fund will give the market to bring at least 120 billion yuan.
Sequel still has explode fund fund
Future still has a few accomplishment actor or actress fund manager manages a product to give heat, close like Wang Zong roc concentration of Hua Jiang heart, Hu Xin brights collect add rich medium value of dish of value concentration, Jing Shunchang city enters Bao Mo firmly can, the Feng Mingyuan that the letter amounts to bay silver to study concentration, , the likelihood still can have explode the money goes heat.
Storehouse of collect of stock fund, one billion four hundred and ten million and sixty-five thousand four hundred and eight illicit still exceed 84%
The storehouse of fund a kind of manner of the city after the level also can show fund manager to be opposite. Two weeks of markets last recently concussion, fund of fair collect, illicit collect decreases a storehouse somewhat, but storehouse of collect of stock fund, one billion four hundred and ten million and sixty-five thousand four hundred and eight illicit still be in historical perch, show relatively active and hopeful signal.
Specific in light of, good buy fund data to show, came on June 8 on June 12 a week, slant model fund whole is small decrease a storehouse 0.95% , current storehouse 68.14% . Among them, stock fund storehouse drop 0.71% , the standard mixes model fund storehouse drop 0.98% , current storehouse it is respectively 88.27% with 65.46% .
Came on June 8 on June 12 a week, the industry of before fund configures scale to rank 3 is medicine, building materials and food drink, configuration storehouse it is respectively 7.39% , 6.93% with 5.08% ; 3 industries after fund configures scale to reside are aricultural herd fishing, estate and light industrial make, configuration storehouse it is respectively 0.62% , 0.75% with 0.94% .
Data origin: Good buy fund research center, data ends day of 2020-6-12
Came on June 8 on June 12 a week, the storehouse basically is added on fund industry configuration war industry of building materials, national defence and iron and steel, extent is respectively 3.37% , 1.33% with 1.28% ; Fund basically decreases a storehouse travel of electric power and public utility, meal and food drink 3 industries, the extent that decrease a storehouse is respectively 2.45% , 1.77% with 1.04% .
Came on June 8 on June 12 a week, in light of this week whole, fair collect slants model fund is small decrease a storehouse, nominal accent storehouse and active attune storehouse direction is consistent, and extent is more than active attune storehouse name moves a storehouse. Current, fair collect slants a fund storehouse overall be in historical perch level.
Same, the storehouse of stock illicit collect also maintain in perch. Illicit collect discharges a net to combine Great Master data to show, up to on June 5, storehouse of whole of stock illicit collect annulus dropped than small 1.2 percent, newest storehouse the index is 72.30% , among them the storehouse of stock illicit collect of 47.46% be in 8 into above, only the illicit collect storehouse of 19.27% under 5 into. In light of cent dimensions, collect of illicit of the others dimensions all is decreasing a storehouse, only collect of one billion four hundred and ten million and sixty-five thousand four hundred and eight illicit is converse add a storehouse, collect of one billion four hundred and ten million and sixty-five thousand four hundred and eight illicit is newest storehouse the index is 84.57% , annulus comparing adds a storehouse 0.76 percent, the storehouse of collect of one billion four hundred and ten million and sixty-five thousand four hundred and eight illicit of 72.08% be in 8 into above,
Origin: Fund of China of date of small letter public signs up for
