With a huge loss of 10 billion yuan in two years, Wanjia Fund is full of "gambling".

Sharp eyes on finance

2024-06-29 17:38Ruiyan looks at the official account of Finance

At present, among the 7,517 hybrid funds and 929 equity funds in the whole market, the top 5 returns in the past year are all covered by the products of Wanjia Fund. In the past year, the yield of Wanjia Select A is 41.09%, the yield of Wanjia Select C is 40.25%, the yield of Wanjia Xinli is 39.54%, the yield of Wanjia Macro Timing A is 38.92%, and the yield of Wanjia Macro Timing C is 38.24%......

This yield is almost the same as the rise of the Nasdaq index of U.S. stocks in the past year, and it is also a rare fund in the past two years to see a large area of red funds in public fund products, and it is necessary to study the differences between Wanjia Fund and other fund companies.

The coal content is super high, and the ginger is still old and spicy

Wanjia Select, Wanjia Xinli Flexible, and Wanjia Macro Timing are the three funds that are red against the market, all of which are products managed by Huang Hai, a "veteran" in the industry and a "newcomer" in Wanjia.

He is called a "veteran" in the industry because Huang Hai has been working in the asset management industry since 2000, and has served as a strategic researcher in Shenyin Wanguo, an investment manager in Huabao Trust, and an investment sponsor in Bank of China International, and only joined Wanjia Fund as a fund manager in 2020, and has only served as a fund manager for 3 years and 279 days.

(Source: Tiantian Fund Network)

It is during the more than three years that Huang Hai has served as a fund manager in Wanjia Fund, several products managed by Huang Hai have not only outperformed the excess returns of the market and peers, but also won the top five yields of domestic partial stock funds in the past year.

(Data source: Tiantian Fund Network)

In fact, Huang Hai did not have an advantage at the time when Wanjia Fund began to serve as a fund manager, and many of the funds sold at that time on the market had lost a lot, and the products he managed not only did not lose money, but also obtained a return of up to more than 94%.

There is no other reason, and doing the opposite is the key!

When other "top stream" such as Zhang Kun, Liu Yanchun, Feng Mingyuan, Cai Haosong, Wang Zonghe and other "top streamers" bet on liquor, new energy, and semiconductors, Huang Hai silently held a bunch of coal stocks, and then waited for the flowers to bloom, and finally amazed everyone.

(Wanjia Macro Time's latest heavy stocks)

(Wanjia Select's latest heavy stocks)

(Screenshot of Wanjia Xinli's flexible heavy stocks)

Although the three products managed by Huanghai have achieved ultra-high excess returns in the past three years, some investors are worried that they will repeat the mistakes of Zhang Kun, Liu Yanchun, Feng Mingyuan and others, over-relying on the temporary cyclical dividends of a single industry, and then fall into a state of continuous losses.

This is indeed a fact, if you can't adjust your position in time according to macro changes, then there is a high probability that it will become a variety of liquor funds, new energy funds, and photovoltaic funds in the first two years.

However, in any case, the three products managed by Huanghai have earned more than 600 million profits for the people in the past three years, and the management fee income in the same period is less than 100 million.

Have a "Champion Base"

Wanjia Fund still lost more than 10 billion yuan in 2 years

Although Wanjia Fund has occupied the top five partial stock funds in the past year because of several products managed by Huanghai, Wanjia Fund has still not escaped the "fate" of huge losses in the past two years or even in the past three years.

Two days ago, Brother Ruiyan calculated for everyone at the end of Hu Xinwei's article that in the past three years, Liu Yanchun, Zhang Kun, Hu Xinwei, and Zhu Shaoxing have a total loss of more than 124.1 billion, and the four fund companies where they are located, Invesco Great Wall, E Fund, Hui Tianfu, and Wells Fargo, have a total loss of more than 427.6 billion.

This figure is too shocking, there are currently a total of 211 fund companies, only these four have lost more than 420 billion, how much money has the entire public fund industry lost in the past three years?

Today's Wanjia Fund, both the scale of management and its fund managers do not seem to be as famous as these four, but it has also suffered huge losses in the past three years, with a total loss of 839 million in the past three years and a total loss of more than 10.2 billion in the past two years!

(Data source: Tiantian Fund Network)

Comparatively speaking, the 10,000 funds that have lost more than 10.2 billion yuan in two years are much better, but for the people, is it just to give the money to the fund company just to lose less?

Apparently not!

In recent years, although Wanjia Fund has been supported by industry "veterans" like Huanghai, but it is a drop in the bucket, the three products managed by Huanghai have been crazy in the past three years, and the highest yield has exceeded 90%, and the relative yield of the market is more than 1 times, but it has only contributed about 600 million profits, and the loss of Wanjia Fund in the past two years has exceeded 10 billion.

This is called, it is useless to have the help of "heavenly soldiers", not to mention whether the Yellow Sea is a "heavenly soldier" or not remains to be verified.

Huang Xingliang lost more than 9 billion alone

It is true that it will take more time to verify whether Huang Hai is a "heavenly soldier", but there is a "fierce general" under Wanjia Fund that absolutely does not need to be verified, he is Huang Xingliang, the helmsman of Wanjia Fund's equity flagship product, Wanjia Industry Priority.

How "fierce" is Huang Xingliang?

In the past two years, the 292 products and 40 fund managers of Wanjia Fund have lost about 10.2 billion yuan as a whole, while the 7 products managed by Huang Xingliang have lost more than 9.1 billion yuan, which is the existence of a single-handedly company!

Up to now, the products managed by Huang Xingliang, whether it is in the past month, the past three months, the past year, or the past two years, have not been in the red, and almost all of the performance in the past year has lost more than 30%.

(Data source: Tiantian Fund Network)

Among them, except for the Wanjia Science and Technology Innovation Board, which has been fixed for 2 years and has lost less than 50% in the past three years, the loss of the remaining 6 products is greater than 50%.

In the past three years, Wanjia Science and Technology Innovation Board has lost 37.27% in 2 years, Wanjia Global Growth has lost 55.40% in one-year holding (established on September 22, 2021), Wanjia ChiNext has lost 53.04% in 2 years, Wanjia has lost 56.21% in independent innovation, Wanjia has lost 52.3% in scientific and technological innovation, Wanjia has lost 56.11% in new economic momentum, and Wanjia has lost 55.94% in industry priority.

(Data source: Tiantian Fund Network)

For Wanjia Fund, how many "heavenly soldiers" like Huang Hai do you need to make up for the losses caused by "fierce generals" like Huang Xingliang?

However, for Wanjia Fund, Huang Xingliang may be a "good employee of the company". Although Huang Hai created 600 million profits and wealth for the people, it only brought less than 100 million management fees to the Wanjia Fund, while Huang Xingliang lost more than 9 billion yuan to the people, but created more than 1 billion management fee income for the Wanjia Fund.

(Data source: Tiantian Fund Network, Ruiyan Brother collation)

In this, what Brother Ruiyan can't figure out the most is that how can the Wanjia Global Growth One-Year Holding Fund managed by Huang Xingliang lose so much in the past 3 years, with a loss of more than 55%. Isn't it the NASDAQ that represents global growth, as long as the NASDAQ companies have a heavy position, how can the income in recent years exceed that of the bunch of coal stocks in the Yellow Sea?

However, Huang Xingliang has to "be smart", select individual stocks around the world, and take a handful of stocks that are not the leading companies in any industry in the world.

(Data source: Tiantian Fund Network)

There is a more reasonable explanation, fund managers like Huang Xingliang are here to collect management fees, and the more management fees they charge, the more bonuses they have!

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