Editor's note: Recently, the State Council issued the "Several Opinions on Strengthening Supervision and Risk Prevention to Promote the High-quality Development of the Capital Market", proposing to comprehensively strengthen the investment and research capacity building of fund companies, enrich the types of investable assets and investment portfolios of public funds, and change from scale-oriented to return-oriented investors.
In the first half of 2024 (as of June 30, the same below), the net value of Beixin Ruifeng's healthy life theme fell by more than 32%, underperforming the performance benchmark by more than 30 percentage points, ranking 2301/2303 in the same category.
Analysis of holdings found that at the end of the first quarter, the fund's heavy stocks were mainly concentrated in the pharmaceutical industry, focusing on innovative drugs, innovative medical devices and R&D outsourcing industry chains, and the share prices of heavy stocks such as Wisdom Pharmaceutical, Northgate, and WuXi AppTec fell by more than 40% during the year.
Bread Finance Research found that Beixin Ruifeng Fund has a total of 9 active equity products (initial fund caliber), of which 8 had negative returns in the first half of the year, with an average loss of more than 10%.
Beixin Ruifeng Healthy Life Theme: Net Value Fell by More Than 32% During the Year
Founded on March 27, 2015, Beixin Ruifeng Healthy Life Theme is a flexible allocation fund established earlier under Beixin Ruifeng Fund.
As of June 30, 2024, the fund's net value fell by 32.66% during the year, underperforming the performance benchmark by more than 30 percentage points, ranking 2301/2303 in the same category.
Since its establishment more than 9 years ago, the net value of Beixin Ruifeng Healthy Life Theme Unit has fallen by 19.60%, underperforming the performance benchmark by more than 30 percentage points, ranking 331/355 in the same category.
Heavy position in biomedicine: Wisdom Pharmaceutical, Northgate, etc. fell by more than 40% during the year
At the end of the first quarter of 2024, the proportion of Beixin Ruifeng Healthy Life Theme Stocks to the fund's total assets was 92.82%, exceeding 90% for many consecutive quarters. The top 10 heavy stocks accounted for 43.08% of the fund's net asset value, slightly higher than the industry average.
According to Shenwan's first-level industry classification, the top 10 heavy stocks of Beixin Ruifeng Healthy Life Theme at the end of the first quarter concentrated in the biomedical industry, focusing on the layout of innovative drugs, innovative medical devices and R&D outsourcing industry chains, including Tigermed, Zhaoyan New Pharmaceutical, Yuandong Biologics, Wisdom Pharmaceutical, Sunshine Novo, etc.
From the perspective of position changes, the theme of Beixin Ruifeng Healthy Life changed 7 of the top 10 heavy stocks in the first quarter.
Since the beginning of 2024 and June 30, many of the fund's top 10 heavy stocks have fallen significantly. Among them, Wisdom Pharmaceutical, Northgate, and WuXi AppTec were among the top decliners, falling by 48.24%, 47.88%, and 44.79% respectively during the year.
Beixin Ruifeng Fund: Active equity funds have suffered large-scale losses and doubtful investment and research capabilities
Wind data shows that in the first half of 2024, 8 of the 9 active equity funds under Beixin Ruifeng Fund have negative returns, with an average loss of more than 10%.
Among them, the net value of Beixin Ruifeng Healthy Life Theme fell by 32.66% in the first half of the year, the largest decline. The net value of Beixin Ruifeng's industrial upgrading fell by 29.2%, ranking last in the same category.
In contrast, the net value of Beixin Ruifeng Research Select rose 5.27% in the first half of this year, ranking 150/935 in the same category, but the latest scale of the product is only 17 million yuan.
Recently, the China Securities Regulatory Commission's "Opinions on Strengthening the Supervision of Securities Companies and Public Funds and Accelerating the Construction of First-class Investment Banks and Investment Institutions (Trial)" pointed out that the long-term return 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.
With a large area of losses in the products of fund companies, some of which fell by more than 30% during the year, do the management of managers, senior executives and fund managers pay attention to improving the long-term returns of investors? Is it aligned with the interests of investors?
(Article serial number: 1807686016673386496/EN.)
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