CCB, Beijing, July 26 (Reporter Tang Jing) The second quarter report of public funds in 2021 has been disclosed. The data shows that as of the end of the second quarter of this year, the value of the A stock market held by public funds reached 5.5 trillion yuan, a record percentage in the past ten years. New highs, active equity funds have also reaped good returns.
After carrying the redemption tide in the first quarter, public funds in the second quarter clearly showed their strength. According to data from third-party institutions, as of the end of the second quarter of this year, the net asset value of public funds reached 22.5 trillion yuan. The market value of public equity investment is 6.2 trillion yuan, and the value of the A stock market is 5.5 trillion yuan, accounting for 6.74% of the total market value of A shares, the highest level in the past decade.
According to analysis by Zhao Xijun, co-dean of the China Capital Market Research Institute of Renmin University of China, from the data in the first half of the year, the role of public funds in my country’s capital market, especially the investment market, is increasing, and the market influence and voice are also increasing. , This is caused by many reasons.
Zhao Xijun said: “The reform and development of the market itself is an important driving force. As we continue to promote market-oriented reforms, including the continuous establishment and improvement of some basic systems, such as the registration system of the Science and Technology Innovation Board, and the improvement of information disclosure A series of reforms such as improving the quality of listed companies have provided a good foundation and environment for the development of public funds. Second, we are also constantly advocating that this market is not just a market for listed companies. At the same time, it is also a market that meets the needs of investors. How to meet the needs of investors and improve the capabilities of investors, especially the introduction of more institutional investors with strong professional capabilities to participate, is also what we are constantly working hard to promote. Third, the quality of listed companies is constantly improving, and its attractiveness to investors is constantly improving. More and more investors are willing to enter the market, which has also promoted many institutional investors to enter the market for investment.”
(Image source: CFP)
At the end of the second quarter of this year, active equity funds reaped good returns. As of July 23, the average return rate of 4103 active equity funds across the market this year was 8.46%, which was 10.8 percentage points higher than the CSI 300 Index during the same period. Among them, ordinary stock funds holding more than 80% of the stock positions have the best money-making effect, with an average return rate of close to 11% this year; partial-share hybrid funds that mainly invest in equity assets are followed, gaining an average return of 8.98%; hybrid funds overall The average return was 8.14%, and the performance was equally good.
Dong Dengxin, director of the Institute of Financial Securities at Wuhan University of Science and Technology, pointed out that in the past, the proportion of equity investment in public funds was very low, at least 7% of the net value of public funds, and there is still a lot of room for improvement from mature markets. In the past two years, more and more public equity funds have deployed equity investments, and the market has gradually matured.
Dong Dengxin said: “In the past, fund companies focused most of their energy on the research and development of currency funds and bond funds, which we call fixed-income securities funds. In the future, there may be more public offering funds focusing on R&D or investment. The portfolio shifts to equity products, which will make the share of equity funds grow rapidly, so as to meet the needs of household financial management, especially the general trend of de-retailization of our market.”
However, Dong Dengxin also pointed out that at present, the “bulkness” of my country’s public offering funds is not large enough, and the proportion of equity funds is not high enough to effectively influence the basic trend of the stock market. This is mainly due to the lack of long-term funds and long-term institutional investors in the market. . As long-term institutional investors, the role of public funds in the future cannot be underestimated.
Zhao Xijun believes that in the future, the institutional arrangements and standards for public funds and the improvement of management capabilities are the key.
“The entire market must have better institutional arrangements and regulations to allow fund investors to have a better operating environment and operating conditions. At the same time, there must also be more measures involving fund management, so as to allow these institutional investors to truly play professionally. Ability and value investment ability.” Zhao Xijun said.Return to Sohu to see more
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