The first half of 2024 has come to an end, and the A-share differentiation in the first half of the year is very obvious, with the best performance being the CSI 300, up 0.89%; The worst performer was the CSI 2000, which fell by more than 23%. Among them, there were less than 800 rising stocks, accounting for less than 15%, and the average decline of all A-shares was more than 20%, with a median decline of nearly 24%. Coal, banks, and utilities with high dividends were among the few sectors that rose.
The A-share market in the first half of 2024 has continued the weak market in recent years, and the performance of the main A-share indices in the past year and three years has been unsatisfactory. In such a market environment, in order to achieve good performance in stock investment, it is a great test of the fund manager's ability to select stocks and choose the right time.
According to the data of the public offering ranking network and the official website of fund companies, the author has counted the performance of fund managers' partial stock funds (including equity funds) in the first half of 2024, the past year, and the past three years as of the end of June 2024. In the first half of the year, the median return of the 2,200 fund managers was -3.66%, the average return was -4.06%, and the positive return accounted for more than 30%, both of which were better than the overall performance of A-shares.
Although the overall performance of fund managers in the past three years has been average, there are some fund managers who have bucked the trend and achieved outstanding returns. In order to provide readers with some references, the author has screened out the top 20 fund managers with the highest returns in the first half of this year, the past year, and the past three years from the fund managers with a total fund size of more than 1 billion yuan. (Only partial stock funds and equity funds are counted, passive index funds are excluded, and the fund manager manages multiple products, and the performance is calculated according to the weighted product size)
In the first half of this year: Champion Wang Peng re-positioned the NVIDIA concept! The third runner-up Xu Tuo has a heavy position and high dividends!
In the first half of 2024, the top 20 fund managers with the highest returns of partial stock funds will be on the list with a "threshold" of more than 14%. Among them, Wang Peng of Manulife Fund, Zeng Hua of Huisheng Fund, Xu Tuo of Yongying Fund, Zou Lihu of Invesco Great Wall Fund, and four fund managers earned more than 20% of their partial stock funds in the first half of this year.
Among the top 20 fund managers, Zhang Feng of Dongfanghong Asset Management, Bao Wuke of Invesco Great Wall Fund, Liu Xu of Dacheng Fund, Zeng Hua of Huisheng Fund, Zou Lihu of Invesco Great Wall Fund, and Wang Zhuo of Dongfanghong Asset Management all have a fund scale of more than 10 billion yuan.
Among them, the champion is Wang Peng of Manulife Fund. He manages 6 funds with a total scale of more than 7.8 billion yuan, and the return of partial stock funds in the first half of the year exceeded 28%. According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Wang Peng's fund accounted for more than 60% of the net value of his fund.
Wang Peng's top 5 heavy stocks are: Shanghai Electric Co., Ltd., Industrial Fortune Union, Xin Yisheng, Tianfu Communication, and Zhongji Innolight, all of which are A-share suppliers of NVIDIA. In the first half of this year, Nvidia continued to reach new highs, which drove the related A-share Nvidia concept stocks to follow the sharp rise, which may be the main reason for its leading performance.
Source: Choice
According to the data, Wang Peng is a master of engineering from Tsinghua University, and has worked in China Post Venture Fund as a TMT industry researcher, Shanghai Panxin Investment as an electronics industry researcher, joined Teda Manulife Fund in June 2015, as a TMT industry researcher, and began to serve as a fund manager on December 19, 2017. With his engineering background and research experience in the technology sector, it is reasonable to have a heavy position in Nvidia concept stocks.
Xu Tuo, from Yongying Fund, manages 4 funds, with a total management scale of nearly 4.1 billion yuan, and the income of partial stock funds in the first half of the year exceeded 25%. According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Xu Tuo's fund accounted for more than 50% of its net value of the fund.
Its top 10 heavy stocks are very concentrated in the industry, including China Nuclear Power, Huadian International, Zhejiang Power, China General Nuclear Power, Huaneng International, China Resources Power and many other power stocks, power stocks because of the logic of high dividends, the first half of this year performance is outstanding.
Nearly a year: Champion Huanghai heavy coal stocks! Bao Wuke's performance continues to shine!
In the past year, the top 20 fund managers with the highest returns of partial stock funds have exceeded 8% on the list. Among them, only Bao Keke and Zou Lihu of Invesco Great Wall Fund are on the list.
In the past year, the top 5 equity funds are: Huang Hai of Wanjia Fund, Zou Lihu of Invesco Great Wall Fund, Bao Wuke of Invesco Great Wall Fund, Wu Yijing of CITIC Prudential Fund, and Wu Xiao of China Merchants Fund.
Among them, the champion is Huang Hai of Wanjia Fund. He manages 3 funds, with a total scale of nearly 6.6 billion yuan, with a return of more than 37% in the past year, more than 12% in the first half of this year, and more than 80% in the past three years, ranking second in the past three years.
According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Huanghai's funds accounted for more than 67% of its fund's net value.
Its top 10 heavy stocks are very concentrated in the industry, most of which are coal stocks, including Huaibei Mining, Huayang Shares, China Coal Energy, Shanmei International and so on.
In addition, Bao Wuke, from Invesco Great Wall Fund, is the largest fund manager under management among the top 20. It manages 8 funds, with a management scale of more than 21 billion yuan, and the income of partial stock funds has exceeded 17% in the past year, ranking third. It is worth mentioning that he also ranked among the top 20 in the first half of this year and the past three years, with a return of more than 15% in the first half of this year and more than 41% in the past three years.
According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Bao Wuke's fund accounted for more than 48% of the net value of his fund, mainly in the two major directions of resource stocks and high dividends.
In the past three years: Miao Weibin won the championship! Zhou Haidong also performed brilliantly!
In the past three years, the top 20 fund managers with the highest returns of partial stock funds have exceeded 16% of the "threshold" on the list. Among them, 10 of the funds under management exceed 10 billion yuan on the list.
In the past three years, the top 5 equity funds are: Miao Weibin of Jinyuan Shun'an Fund, Huang Hai of Wanjia Fund, Bao Wuke of Invesco Great Wall Fund, Zhai Xiangdong of China Merchants Fund, and Yang Jinjin of Bank of Communications Schroder Fund.
Among them, the champion is Miao Weibin of Jinyuan Shunan Fund. He manages 1 fund (Jinyuan Shun An Yuanqi Flexible Allocation Mix), with a total management scale of nearly 1.3 billion yuan and an income of more than 93% in the past three years. According to the data of the public offering network, the only fund he currently manages, "Jinyuan Shun An Yuanqi Flexible Allocation Hybrid", was established on November 14, 2017, and the annualized return since its establishment exceeded 23%.
According to the data, Miao Weibin has a master's degree in economics from Fudan University and started practicing securities in 1998. He used to be the general manager of the fixed income department of Huatai Asset Management, a researcher of Baoying Fund, an assistant to the general manager of the asset management department of Jinyuan Securities, a senior investment manager of United Securities, and an investment manager of Huabao Trust. In October 2016, he joined Jinyuan Shunan Fund.
According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Miao Weibin's fund accounted for less than 15% of the net value of its fund, and the holdings are very diversified in the industry, belonging to the selected individual stock fund managers.
In addition, Zhou Haidong of China Commercial Fund is the second largest among the top 20 fund managers. He manages 6 funds, with a total scale of nearly 33.6 billion yuan, and the return of partial stock funds in the past three years is close to 27%.
According to the latest disclosed position data, at the end of the first quarter of 2024, the market value of the top 10 heavy stocks held by Zhou Haidong's fund accounted for less than 25% of the net value of his fund. Most of the top 10 heavy stocks are resource stocks, including Zijin Mining, China Molybdenum, Industrial Silver Tin, Shenhuo and so on.
To sum up, after the author's combing, it is found that Xu Tuo of Yongying Fund, Zou Lihu of Invesco Great Wall Fund, Bao Wuke of Invesco Great Wall Fund, and Ye Yong of Wanjia Fund are among the top 20 fund managers in the first half of this year, the past year, and the past three years.
[Source]: Public offering network, fund company official website
[Explanation of Earnings Calculation]: Rank by interval rate of return from high to low.
[Ranking Description]: The above rankings do not represent that the public offering ranking network is engaged in fund evaluation work, and the public offering ranking network only ranks the public fund products included by itself with certain rules, and the above ranking shall not be used as the sole basis for investors' investment decisions, and is only for investors' own research and reference.
[Risk Disclosure]: Investment is risky, the past performance of the fund does not indicate its future performance, the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of the fund, and our company does not promise the future returns of the product in any way, expressly, implicitly or otherwise. Investors should pay careful attention to various risks, carefully read the fund contract, fund product key facts statement and other sales documents, fully understand the risk-return characteristics of the product, and make investment decisions according to their own circumstances, and be responsible for their own profits and losses in investment decisions.