Guangdong Special Household Running index and public offering holder shelling

Fund company after nearly two years of efforts to open up, handing over a pair of results, but let the owners feel disappointed. On a conference call held by the GF Fund on March 19, investors complained that they were holding more than a pair of performance indexes.　　Some investors compared the performance of the special household with that of the fund company in the same period.　　Who is the wrong person to run and not win a public offering?　　The owner shelled a pair of multiple results according to the Daily Economic News survey found that "fully flexible positions", "as a professional investment managers have experienced a CBBC reincarnation experience," became the "millionaire" the main reason to dare to try a one-to-many. It is based on this consideration that a pair of holders generally concluded that the risk of a special account should be smaller than that of a public offering.　　At the same time, since to let a part of the proceeds to transfer to the fund company, the special account of how to be stronger than public raise it!　　However, what the majority of the duo did not anticipate was that more than a year later, the waiting was a dismal performance and an infinite disappointment.　　At the holding meeting held by the Guangdong Foundation, investors ' dissatisfaction with performance was evident. "(No. 01) was opened last September and I added 1/3," said Mr. Zhao, the owner. Six months later, the four indexes, including the Shanghai Composite Index, the deep comprehensive, gem Index, the SME board, respectively, Rose 9.46%, 4.93%, 14.96% and 14.57%, but my special household funds in this 6 months, down 8%, that is four index, which one can not keep up! "I will give you a comparison, (in the last six months) you GF Fund 10 funds, all are positive income, the highest development of the small plate to reach 15%, the worst is 5% to 6%, but I now hold two is all negative income." Your performance is too different. "Then the other owner was blunt," not to say that there is too much difference between our expectations, even when compared to your funds.　　"However, it is fortunate to have bought the 1th issue of the GF theme, which has earned more than 20% over the year." Xi ' An special account holder also told reporters that they really "unbearable", withdrew from a large fund company in Shanghai, a pair of products, "I hold a year's time, that a pair of more than never make money, but also lost nearly 10%." "My expectations are not high, as long as they can have 10% a year, but they can't even do that."　　"One of the many investors who has withdrawn from the blog has said. "Fortunately, they also have a ' conscience ', when the expiration can let me break the whole body and retreat." I buy a pair of more than the pursuit of how high income, only hope to win the CPI. Now it seems that the hope is only to think about it.　　"Some of the people in the face of the reporter made such a sigh. Earlier, the daily economic news of a group of holders of the survey showed that "investment performance is not up to expectations", the holding of the people second only to the "liquidity gap" problem,Ranked second. A number of holders have told reporters that the original to buy more than a pair, will have an expected return. "Now even the expected income can not reach, and even run to win public offering can not do, then buy a pair of more than what is the meaning?"　　"More than a couple of households, run not win public offering, who is it?" Performance difference internal cause: "The revolution is not acclimatized" in fact, compared with public offering, a pair of many of itself does not have any advantages. "A beijing-based fund analyst told reporters," in the bull market, the arrival of a certain income, a pair of many will have scruples, and public offering due to the limit will continue to upward. "" If the special household also experienced 2006 years and 2007 such great bull market, although not excluding individual pair of multiple performance particularly excellent, but a couple of households are not to win public offering.　　The analysts said further. Shenzhen, a fund analyst told reporters, more importantly, "at present, many a pair of investment managers are from the public to the past, they do not have too much of the concept of absolute income, in this respect experience is lacking." "" Flexible position is not everyone can be used properly, absolute and relative income is completely two concepts, not only to cater to the market but also to prevent the counter, rather than low risk, rather than the risk (more than public offering) greater.　　"he said. "A One-to-many performance difference is bigger than a public offering, and the investment manager's personal abilities are different," says Jiang Saichun, the research Center for the Trust Fund. "At the same time, most of the fund's investors interviewed privately said that from the public to the more than a couple of households, it is not simple, need time to adapt."　　The market grasp of the special account, the depth of the study of the stock, as well as the accuracy of investment timing requirements higher.　　As early as a pair of multiple gate gate when the fund industry is generally concerned about the "revolution-specific" acclimatized problem, now thoroughly presented.　　Performance difference external cause: Under the pressure of the vicious circle aside from the fund's individual investment capacity, many brokers analysts also believe that the brand-building pressure is also leading to a pair of more run not win public offering reasons. The Shenzhen fund analysts said that for public funds, the brand has been basically formed.　　In the early days of rapid growth, the fund companies are busy creating brands, especially the need for good performance to build. For fund companies, the performance of a pair of first-line households is particularly important, as their performance relates to the subsequent release of a range of products.　　At present, the information of the special Account is not open, which seems to be a more relaxed and comfortable environment for the special account, but this does not mean that the investment manager is not under pressure.　　A large fund company, the relevant person said, the current public offering fund annual assessment, so that the public fund manager of the pressure directly on the table, and the special household a pair of more intangible assessment pressure.　　To be in the beginning of the special household business, under the pressure of brand-building, "acclimatized" investment managers are often easy to enter the "loss-pressure-loss" of the vicious circle. Reporter notes "more than a couple of households" is also in the seller's market, the fund and the holder of the dialogue between the holders, and not only the case,It's a common problem that more than a couple of households are facing.　　The dialogue between the two sides tells us: "More than one pair of households" is still a seller's market.　　Since the reform and opening up, the rapid economic growth has accumulated more wealth, so that the "millionaire" group expanded rapidly, this point from the foreign luxury brands have to adjust the business strategy in China can be known. After the accumulation of wealth, "millionaires" are confronted with the narrowness of investment channels and the lack of available investment. In the past years, the idea of speculation in the house, but also under the pressure of the policy, forcing the wealth to start looking for a new way out.　　It is in this context that the fund companies will be more than a pair of services to the larger market cake. Optimistic about economic growth, choose to put wealth into the stock market, a pair of more than one business has become a choice for them.　　From the potential supply and demand, the existing One-to-many products and the number of investment groups, is still in short supply pattern. It is the asset contract that sustains both powers and responsibilities. The signing of any contract should be based on the most basic principle of fairness, and the rights and obligations of both parties should be equal.　　When the contract has obvious tendency, the other party will make the choice of voting with the foot, especially the format of the contract. After the public offering fund manager job-hopping, has reserved the good exit mechanism for the investor.　　The same is the asset entrusted business, "One-to-many" exit is much more difficult. Take a look at the investment manager's sense of responsibility. Whether the fund industry "people-oriented" concept, or from the investment manager's own career development considerations, it is unrealistic to completely eliminate the flow of talent. However, this does not mean that the investment manager is a profession that does not require a sense of responsibility. Because the holder of the asset entrusted to the fund company, is the transfer of trust.　　When the investment manager decides to leave, he puts the holder in an awkward position. The basic principle of economics tells us that the seller's market is not a kind of equilibrium, and it always has self-adjustment function.　　This is the case, we can see that even if the company suspend the trust companies to open a stock account, transiting tot way, sunshine private development momentum is not weak. Brokers are also actively promoting a similar threshold of the collection of wealth management products, although the current number and size is still difficult and public offering a pair of special households to contend with.　　A period of time ago Guotai began to issue the hedging products, originally expected to be the highest starting size of only 500 million yuan, and the morning of the appointment of the amount is nearly 1 billion, much more than expected. The development prospect of asset management business is self-evident, a pair of business only in the forward continuously improve themselves, can truly win the trust of investors, to achieve rapid development and growth. Responsible Editor: NF050