Wenyao Retirement fund "lying gun" holding group heating worries highlight

In Monday, the Shanghai household announced that the board of Directors accepted the chairman's Wenyao [Weibo] application.　　And last week, Wenyao the news of the application of retirement directly to Shanghai's home-stock prices fell on the fall, the day of the fall, the net value of many funds followed by a decline, including the strategy to increase the wealth of the decline reached 1.28%. The same situation was repeated in September.　　Guizhou Maotai fell, the work of silver dividend and work silver balance unit net fell more than 2%; song er acoustic collapsed 8%, after the social responsibility of the company plunged 4.38%, China merchants Real Estate [micro-blog] fell, soochow new economy and East Wu Jiawou decline more than 2%. The same company's funds collectively heavy warehouse shares, the same fund manager management of different products positions.　　The investment strategy of the Fund group is in the market of the "Black Swan" in this year.　　Nanfang Daily reporter Jiashomin Intern Zhou Lei Shanghai Home of the soul figure retired September 18, because the soul character Wenyao application for retirement, Shanghai home stock price directly was severely nailed to the plate, Monday home stock fell 1.86% again. Wenyao era of farewell, let some of the heavy warehouse fund "lying in the gun." On the day of the Wednesday Shanghai Home Change, the net value of multiple funds led by the strategy of Hui Fu was followed by a decline. Of these, the strategy of "the most injured" was undoubtedly "the most hurt", with a decrease of 1.28%.　　In addition, the KA Real Fund's strategy was down 1.21%, ka real growth fell 1.14%, and the Ka Real dividend fell by about 1%; At the time of the new, long letter, such as silver and other heavy warehouse Shanghai home equity losses are also more than 0.7% per cent. As of the first half, a total of 203 funds to hold the Shanghai home, the cumulative possession of 298 million shares in Shanghai home. September 18, Shanghai home of a word fell, fell 5.37 yuan.　　If the above 203 fund positions unchanged, according to this calculation, the stock market value has evaporated 1.6 billion yuan.　　Statistics show that, according to the end of the first quarter of the fund shareholding data, Shanghai household stock price fell, leading to the market value of the company's shares evaporate more than 250 million yuan a day, the exchange of 12 of the fund's capital market share value evaporation of 214 million yuan; Yifangda Fund [micro-blog] the market share value　　Stocks "fell off the show" "Gun" fund many Shanghai home to the fall of the fund is very injured is not a special case. In the first trading day of September, Maotai, which has always been regarded as the benchmark of a-share value investment, hit its biggest one-day decline in more than 10 years. 15 minutes into the opening, the stock fell and the final closing price was 151.92 yuan, down 9.99%.　　Last week, the unit continued its plunge, falling below the 140 yuan mark, which has fallen by 16% since September. Semi-annual report is the fuse of Maotai fall.　　Semi-annual reports show that as the liquor company's profit "cistern" of the advance payment is only 835 million yuan, compared with the beginning of this year's 5.091 billion yuan significantly reduced by 4.2 billion yuan. At the end of the second quarter, holding Guizhou Maotai market value of about 10% of the net worth of the work silver dividend and work silver balance, in Guizhou Maotai fall on the day, the unitThe net worth tumbled 2.88% and 2.33% respectively. September 11, Apple released the iphone 5 C and iphone 5S, but the release of the new product is considered far below the market expectations, as Apple's supplier of song acoustics on the day of the opening that plunged more than 8%.　　Heavy warehouse The proportion of the larger share of social responsibility, Huatai leader, the national security dividend, HSBC technology, China Sea consumption and other funds unit net worth plummeted 4.38%, 3.86%, 3.71%, 3.64% and 3.54% respectively.　　September 17, China Merchants property thrown out a set of 248 million shares, involving the amount of 6.5 billion Yuan refinancing scheme, after the return of the institutional investors were collective sell-off, the day of the total deal 503,800 hands, and finally to drop the price, the market value of a day shrink more than 4.8 billion yuan.　　Similarly, the second quarter of the stock of the highest proportion of the new economic, Central Europe and East Wu Jiawou the same day the net unit value fell 2.44%, 3.59% and 2.61%, the domestic demand, shen million advantages such as holding the higher proportion of investment in the fund unit net also plunged 2.67% and 3.84% respectively.　　Together there are risk style into empty talk from a variety of stocks fell, funds in a gun can be seen, the Fund's investment strategy single and homogenization. It is already common for different funds to congregate in some stocks. This year, the report showed that Maotai in Guizhou as the fund's third largest warehouse shares, a total of 224 funds holding Guizhou Maotai, of which 110 fund heavy warehouse. Song Acoustics is also the core unit of the Fund, which is held by 249 funds in the middle of this year, 112 of which are in heavy position.　　The fund that holds the investment estate has reached 170, of which 46 are for heavy storage. In a fund that led to a slump in net worth in Shanghai, the fund manager of Ka real growth and ka real strategy is the same as Zhang Yi; silver dividend and ICBC balance two funds hold Guizhou Maotai market value reached about 10% of the Net fund, and the managers of the two fund products are landlords; At the end of the second quarter,　　Soochow New Economy and East Wu Jiawou respectively hold 9.08% and 8.99% of the net worth of China merchants, they belong to Chung management.　　Such a high concentration of the holding of some stocks, positions similar, fund style, manager personality and so on have become a piece of paper. In this respect, South Fund chief strategy analyst Yang Delong [micro-blog] said that in the industry funds to share some of the shares is indeed a common phenomenon. On the one hand, the quality of domestic companies are less, it is inevitable to get together; On the other hand, managers of the same fund company often influence each other, one holds a company and other managers follow suit, leading to "herding effect".　　In addition, the fund manager management of different products, if because of different positions and lead to a huge performance differentiation, will be questioned selectivity, which also prompted the fund to become a cluster. In response to the impact of the fund, Yang Delong that this would lead to a centralized risk. In particular, when bad news broke out, often staged organizations to kill more of the situation, resulting in a fall, the fund holding group shareholding liquidity risk is concentrated amplification, this is the aforementioned funds have "Gun. "