Annual reports of public funds have been disclosed, and the advantages of bond assets have expanded

Annual reports of public funds have been disclosed, and the advantages of bond assets have expanded


  As of3At the end of the month, public funds2023All annual reports have been disclosed.WindInformation statistics show that to2023At the end of the year, the scale of public funds was27.27trillion yuan, year-on-year growth5.89%.

  since2023Year7moon8Since the Japan Securities Regulatory Commission released the work plan for the reform of public fund fee rates, public fund fee reductions have achieved remarkable results.2023Total annual public fund management fees1356.15billion, a year-on-year decrease7.04%.Among them, the largest proportion is hybrid funds, with a total management fee of557.49billion, a year-on-year decrease19.91%.Total custody fees paid287.38billion, a year-on-year decrease6.33%.

  In terms of holder structure, the proportion of public funds held by individuals reaches53.62%year-on-year growth1.13percentage points.inFOFmixed type, currency type,QDIIFunds are mainly held by individual investors, accounting for90.61%,80.73%,72.54%and65.87%.

  In terms of the proportion structure of asset holdings, stock assets are still at a disadvantage.Specifically, the ratio of stock assets held by public funds to net asset value is21.60%the ratio of bond assets held to net asset value is approximately59.09%the proportion of cash assets held is approximately21.05%. In addition, it also holds other types of assets such as warrants and funds.

  and2022Compared to the end of the year,2023At the end of the year, the proportion of stock assets held by public fund products decreased by approximately3percentage points, while bond assets increased by approximately3percentage points, the proportion of cash assets held also increased.

  Regarding the full-year profit performance, Tianxiangtougu statistics show that,2023The total annual losses of stock and hybrid funds amounted to8900billion, of which mixed funds suffered losses5725billion, and2022The annual loss exceeds1.1Trillions of dollars improved significantly, stock funds suffered losses3245billion,QDIIandFOFLoss respectively33billion yuan and81billion.

  The performance of fixed-income products increased steadily, and currency funds made profits throughout the year.2281billion, compared to2022Rise in year; bond funds make profits2381billion, compared to2022Year838billion rose sharply.Commodity fund profits61.19100 million yuan, other types of funds made profits12.33billion, compared to2022There is an average improvement every year.

  As of2023At the end of the year, active equity funds held heavy positions in the top five industries.51.51%compared with2022A slight decrease at the end of the year0.65%. The pharmaceutical and biological industry maintains its position as the first most important industry and its share of holdings has increased. The electronics industry has been promoted from the third most important industry to the second most important industry. The power equipment industry has been significantly reduced from the second most important industry to the fourth most important industry. The food and beverage industry has been significantly reduced. Passively promoted to the third most important industry, the computer maintained the fifth most important industry but the proportion of positions decreased.

  From a style perspective, the holding style of active equity funds is still dominated by large-cap growth, but the number of large-cap growth style funds has decreased.As of2023At the end of the year,3936Among active equity funds, the number of large-cap growth style funds1950Only, proportion49.54%a year-on-year decrease6.8%;Number of mid-cap growth style funds1022Only, proportion25.97%year-on-year increase4.6%.

  because2023second half of yearAChanges in stocks have led to changes in the holding style of active equity funds.and2023Compared with the semi-annual report, the holding style of active equity funds has shifted from large-cap growth to mid-cap growth.compared to2023In the semi-annual report, the proportion of the number of large-cap growth style funds decreased.6.80%Correspondingly; the proportion of mid-cap growth style funds has increased4.60%represents the migration direction of fund holding style.



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