Author: Kissinger
Success is also new energy, defeat is also new energy. Success is also done, and failure is also done. This sentence seems to sum up the main reason for the light-speed decline in the performance of the 3-year hybrid fund of UBS SDIC Fund Management Co., Ltd.
According to the data of Jinxin Fund Evaluation Center, the management performance of UBS SDIC has not lost 19.36% in the past three years, ranking 31/153 among fund companies, losing 11.43% in the last year, ranking 60/169, and not losing 4.01% in the last month, ranking 136/173. The scale of the hybrid fund of UBS SDIC Fund Management Co., Ltd. is less than 37.822 billion yuan, and the continuous ranking in the past three years has been declining.
Shi Cheng, the manager of UBS SDIC, has a total asset size of 11.565 billion yuan, which is basically an active equity product, and the active equity scale under its management occupies a pivotal position in UBS SDIC, and the performance of the fund managed by Shi Cheng is huge for the entire UBS SDIC fund. Unfortunately, Shi Cheng has continued to bet on the new energy battery track in the past three years, but it has caused the Waterloo of SDIC UBS.
Table 1: The performance and ranking of UBS SDIC Hybrid Fund in the past 1-3 years
Data source: Jinxin Fund Evaluation Center
UBS SDIC Shicheng's bet on the new energy track may be the most decisive fund manager in the industry, and throughout the past three years, its fund holdings have basically remained unchanged, and all of them are heavily invested in new energy battery track stocks. The three-year downturn in the industry's stock price has dealt a huge blow to the fund's performance, which has directly caused the performance of Shicheng's managed fund to be at the bottom of the industry.
According to the data of Tiantian Fund, the performance of the 10 hybrid funds managed by Shi Cheng in the past year is between -35.37% and -42.1%, and the performance of 3798 similar funds is between 3600-3706; In the past two years, the technology losses of Shicheng's 8 funds are between 49.66% and 62.93%, ranking at the bottom of the industry; This year, the losses are still unexpected, with losses of more than 19%, ranking at the bottom of the same category.
Table 2: The performance and ranking of Shicheng's funds in the past 2 years
Data source: Tian Tian Fund
Table 3: Changes in the structure of SDIC UBS Advanced Manufacturing Mixed (006736) holders
Data source: Tian Tian Fund
Judging from the changes in the holder structure of Shi Cheng's fund UBS SDIC Advanced Manufacturing Hybrid (006736), the total share of the fund at the end of 2021 soared from 134 million in the previous quarter to 1.059 billion, and the scale share reached 1.243 billion by June 30, 2023, and less than 1.156 billion by the end of 2023