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videopokersoftwarefree| Dual "skills" are full! A manager of Hua 'an Fund was surprised to see "style drift + unfair treatment of holders"

Pets 2024年05月15日 18:45 4 editor

Source: Hofu PricewaterhouseCoopers

Author: WikiLeaks

Style drift is a disease that can be treated.Videopokersoftwarefree! Don't stop drugs. Ji'an Jinxin Fund Evaluation Center 2024 Q1 review results show that there are 14 fund companies 29 products (AC shares are not merged) style drift.

One might say, what's wrong with style drift? As long as the fund manager can make money for me. Does this smell look familiar? What happened to the scumbag? As long as he's nice to me.

As the only one of all the fund rating agencies that insists on not punishing the fund's "style drift" for more than a decade, the Ji'an Jinxin Fund Evaluation Center focuses on the interests of investors. in the fund rating agencies, we have always taken a unique stand against "style drift" and adhered to the rating bottom line such as "fair trade". For more than 10 years, it is our duty to be a whistleblower in the fund industry. It has long been clearly stipulated that the fund style drift should not be rated. Because, style drift fund managers tend to be "better" in gambling, and often accompanied by the problem of unfair treatment of holders.

Take the old face of Hua'an low-carbon life mix in the fund with 2024Q1 style drift as an example, the fund has been going further and further on the road of style drift in recent quarters, and the fund manager even has the double problem of "style drift + unfair treatment of holders".

videopokersoftwarefree| Dual "skills" are full! A manager of Hua 'an Fund was surprised to see "style drift + unfair treatment of holders"

Hua'an low-carbon life mixed contract: invest in low-carbon life-related securities not less than 80% of non-cash fund assets. Ji'an Jinxin Fund Evaluation Center on Hua'an low-carbon life mixed style review results are seriously deviated and will not be rated. In fact, Hua'an low-carbon life mix has been on the road of style drift since 2019. The fund manager is Li Xin, with a scale of 5.Videopokersoftwarefree.06 billion yuan. The proportion of individual holdings of the fund is as high as 75.86%. The proportion of institutional holdings is 24.14%.

According to the Fund risk Monitoring and Compliance Management system of Ji'an Jinxin Fund Evaluation Center, Li Xin, manager of Hua'an low-carbon Life Fund, has a total of 6 mixed products from May 15, 2023 to May 10, 2024, and is still in charge of 6 products. In this range, the performance consistency of the six mixed products managed by Li Xin is relatively low. Among them, the two funds with the biggest performance differences are Hua an Zhaopin Hybrid (LOF) An and Hua an Science and Technology Innovation Hybrid A, with net growth rates of 0.03% and-22.09% respectively, and performance differences of 22.12%.

Article 20 of the Securities Investment Fund Law of the people's Republic of China clearly stipulates that fund managers have to treat the different fund assets they manage fairly. Usually, fund managers manage several funds, and fund managers, as trustees, should treat each fund they manage fairly, and the fund share holders of each fund they manage, shall fulfill the obligations of honesty, credit, prudence and effective management, and manage fund property for the best interests of all fund share holders of each fund under management. The act of harming the interests of one fund for the benefit of another fund violates the principle of the maximum interests of the beneficiary and violates the obligations of the trustee, which should be prohibited. Investors are optimistic about a fund manager and invest real money in the same type of products managed by a fund manager. However, the returns of the two similar products managed by Hua an fund manager Li Xin are lower than 22% in less than a year. Is it fair to the holders?

In 2022, in view of the "style drift" of fund managers, the regulatory authorities made a thunderous move, and problems such as "style drift" of fund managers and the imperfect internal control system of some fund custodians were notified. Regulatory measures such as ordering corrections, issuing warning letters, talking reminders and other regulatory measures have been taken for illegal institutions or responsible personnel. The heavy attack by regulators has been welcomed by all sides of the market, and large institutional investors such as trustees and insurance have also begun to guard against "style drift". To prevent the theme fund from "selling dog meat with a sheep's head" and style drift, many custodian banks have also begun to require fund companies to check their own "style database" or "theme database" against the description of product style characteristics in the theme fund contract. to check whether the style library of the relevant fund is consistent with it; the fund company is required to provide a style library system and specific standards for storage, and the custodian bank shall dynamically maintain it on its own. Some custodian banks check whether the top 20 heavy stocks of the theme fund meet the definition of the theme.

Article 31 of the measures for the Operation and Administration of publicly offered Securities Investment funds clearly stipulates that if the name of the fund indicates the investment direction, more than 80% of the non-cash fund assets shall belong to the content determined by the investment direction. From this point of view, it is the duty of the custodian bank to supervise the investment operation of the fund. In recent years, the custodian bank pays close attention to the management of the style database of the theme fund, strictly preventing the style drift from playing a role in supervising the investment operation of the fund and safeguarding the interests of investors. The custodian bank strengthens the investment supervision of the theme fund, which is conducive to the more standardized development of the fund industry. However, the custodian bank is also faced with a huge number of fund products and complex professional problems that are difficult to solve, and professional institutions are in urgent need of assistance.

Ki-min friends will ask, how to identify "style drift" scum male fund managers and fund companies? We have a Chinese public offering fund "style drift" type scum male identification book-Ji'an Jinxin public offering fund risk control compliance system. Ji'an Jinxin established the market's only database and related system for the "style drift" of fund products in the market as early as ten years ago, and will publicly release typical cases of funds that are not rated because of "style drift" every quarter. Committed to providing professional services for investors and custodian banks.

Some people will ask, what if the fund manager they buy has a style drift, or what should they do if they hold other funds managed by the drift fund manager?

Once the above situation is discovered, it will be withdrawn in one word. Stay away from the dregs man fund, don't be leeks, the principal is very expensive, please don't waste it.

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