Editor's note: The recently released "Several Opinions of the State Council on Strengthening Supervision and Risk Prevention and Promoting the High-quality Development of the Capital Market" pointed out that the investment and research capacity building of fund companies should be comprehensively strengthened, the types of investable assets and investment portfolios of public funds should be enriched, and the scale orientation should be changed to the return orientation of investors.
Since its establishment more than 2 years ago, the net value of Huatai Berry Vision Smart Hybrid A has fallen by 62.67% as of June 19, 2024 (the same below), underperforming the performance benchmark by more than 40 percentage points, and the rights and interests of investors have been deeply damaged.
According to the public information of Bread Finance, the net value of the 8 products of Huatai Berry Fund has fallen by more than 50% since its establishment, is there a loophole in the company's compliance and risk control?
Huatai Berry Foresight Smart Mix A: Net Value Has Fallen by 62.67% Since Its Inception
Huatai Berry Vision Smart Hybrid was established on July 27, 2021, with a net subscription amount of about 4.134 billion yuan during the fundraising period. The investment objective of the fund is to combine indicators and fundamental research, select high-quality growth companies under the premise of reasonable control of portfolio risk and consideration of liquidity, pursue investment returns that exceed the performance benchmark, and strive for sustained and steady appreciation of fund assets.
As of June 19, 2024, the net value of Huatai Berry Vision Smart Hybrid A has fallen by 62.67%, underperforming the performance benchmark by more than 40 percentage points, ranking 2038/2053 in the same category.
Since 2024, the fund's net value has fallen by 22.33%, underperforming the performance benchmark by more than 20 percentage points, ranking 4088/4157 in the same category.
According to Choice data, as of the end of 2023, Huatai Berry Vision Smart Hybrid has accumulated a cumulative loss of about 1.55 billion yuan and a management fee of 91 million yuan. In the first quarter of 2024, the fund's loss increased by about 200 million yuan.
The stock prices of heavy stocks such as GenScript Biotechnology, Mingchen Health, and Donghua Testing fell
Niu Yong, the fund manager of Huatai Berry Foresight Wise Choice Blend, joined Huatai Berry Fund Management Co., Ltd. in January 2018 and has served as the company's deputy director of active equity investment since January 2022.
In the first quarter report of 2024, the fund manager said: "We pay attention to the vehicle companies in the product cycle of new energy vehicles or cooperate with domestic leading technology companies, and at the same time pay attention to the investment opportunities in the industrial chain brought about by the breakthrough of AI technology for the mass production of humanoid robots, as well as the application demand opportunities brought about by the progress of domestic large models. Continue to pay attention to possible valuation repair opportunities in the biomedical and medical aesthetic sectors under the coming of the interest rate cut cycle. For stocks with high dividend yields, we will select stocks with high certainty of both performance and dividend ratio. ”
At the end of the first quarter of 2024, the proportion of Huatai Pinebridge Foresight Mixed Equity Investment to the fund's total assets was 91.47%. According to the division of Shenwan's primary industries, the fund's heavy stocks mainly come from automobiles, machinery and equipment, medicine and biology and other industries.
At the end of the first quarter, Huatai Pinebridge Foresight Smart Mixed Heavy Stocks included Tigermed, Changan Automobile, Donghua Testing, GenScript Biotechnology, Mingchen Health and other companies.
As of June 19, 2024, the stock price of Huatai Pinebridge Vision Smart Mixed Heavy Stocks at the end of the first quarter fell by more than 20% during the year, including GenScript Biotech, Mingchen Health, Donghua Testing, etc. Among them, GenScript Biotech fell by 55.69% during the year.
Huatai Berry Fund: The net value of its 8 products has fallen by more than 50%
According to incomplete statistics, as of June 19, 2024, the net value of 8 products (initial fund caliber) of Huatai Pinebridge Fund has fallen by more than 50% since its establishment.
Among them, Huatai Pinebridge Hong Kong Stock Connect Times Opportunity Mix A has a cumulative net value of 62.60% as of June 19, 2024. Since 2024, the fund's net value has fallen by 12.62%, underperforming the performance benchmark by more than 15 percentage points.
Since the establishment of Huatai Berry Quality Leading Mixed A, the net value has also fallen by more than 60%.
In March 2024, the China Securities Regulatory Commission (CSRC) pointed out in the "Opinions on Strengthening the Supervision of Securities Companies and Public Funds and Accelerating the Construction of First-class Investment Banks and Investment Institutions (Trial)" that the long-term returns of investors should be enhanced. Urge industry institutions to strengthen the service concept, continue to optimize investor services, strictly implement the investor suitability system, improve the investor protection mechanism, effectively improve investors' sense of gain and satisfaction, and continue to maintain the public's trust and confidence in the industry.
Many of the fund company's products have fallen by more than 50% since their establishment, do managers, senior executives and fund managers and other responsible persons pay attention to the long-term returns of investors? Is it aligned with the interests of investors?
(Article Serial Number: 1803344290290733056/CJT.)
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