Is the public offering of FOF a chicken rib?

22 non-aged FOFs totaling 4.2 billion yuan

Is the public offering of FOF a chicken rib?
22 non-aged FOFs totaling 4.2 billion yuan

Is the FOF fund going to be a chicken rib?

  Source: Kilmus has been 2 years since the first batch of FOF funds in 2017. During these 2 years, the development of FOF funds has stopped, but has become more rapid, and more fund companies have joined them.Looking at the types, FOF has suddenly become the home of pension funds.

  On September 8, 2017, the first batch of FOFs were launched, and the first fund-raising system in the history of the fund industry was released. At that time, there were 6 South, Jiashi, Jianxin, Huaxia, Teda Manulife, and Haifutong.

  The first six FOF funds can be described as unique. For example, Huaxia Juhui FOF mainly adopts target venture investment strategy; Southern All-weather FOF adopts “all-weather” strategy; Castrol Pilot Asset Allocation Hybrid FOF is a full-market FOF productBased on risk assessment strategies, focus on resolving contradictions between long-term benefits and short-term changes.

  Since its establishment, as of November 10, 2019, the 6 first batches of FOF performance have returned to positive returns, and the highest increase of China Xia Juhui (FOF) A yield is 8.


  Established 22 FOF funds in 2018 (statistics for different shares). As of November 5, 60 FOF funds (statistics for different shares) have been established this year, including Changxin, E Fund, Invesco Great Wall, Agricultural Bank of China, Shanghai Investment Morgan., Yinhua and other sustainable fund companies.

  However, 90% of them are pension fund FFOs. We know that pension fund management institutions pursue long-term stability of portfolio performance and pursue risk diversification through asset allocation management.

The fund in the fund is a better form of current 杭州夜网论坛 asset allocation. With reference to ordinary funds, the FOF-type pension fund is more in line with the concept of the “Guidelines for Pension Investment Funds (Trial)” and can better achieve retirement.Risk-Return Characteristics of Funds.

  However, the purpose of FOF at the beginning of the freshman was to match the assets of investors, not the FOF launched for pension funds.

  However, there are very few products that actually use FOF as a form of asset allocation research after 2017.

  Even if there are Jianxin Fukuzai Yutai Hybrid (FOF) A / C, Southern Hopesun Multi-Asset (FOF) A / C, Changxin Wenjin Asset Allocation Hybrid (FOF), Shanghai Investment Corporation Morgan Sunray Hybrid (FOF), ZhongrongQuantitative Selection (FOF) A / C products are subject to investor acceptance and the overall scale is expected.

  According 重庆耍耍网 to the statistics of selected data, there are currently only 22 non-pension FOF products in the whole market (different parts are separately counted), and the total size as of the end of the third quarter of 2019 is less than 42.

2.6 billion, with an average yield of only 6.


  From the figure above, we can see that the top 5 funds are still the first FOF products set up in 2017, and none of them since then have exceeded 4 trillion in size, and even have increased by as much as 34 this year.

38% of Qianhai’s open source Yuyuan (FOF).

  Is the FOF fund performing poorly?

  No, none of the 22 non-pension FOF products in the picture above have a negative return since its establishment.

  In fact, how many public fund FOF account customers currently have outsourced funds from banks, and other institutions and personal large customers, there are very few FOFs, mainly retail investors, which are also large in scale.

  For ordinary investors, public offering FOF is still a new product. It is mentioned that other funds need to cooperate with more investor education. However, from the external publicity of some fund companies, in addition to the corresponding products to be carried outProduct announcement, not that fund companies use FOF as the main content of investment.

  In addition, the scale station, profit indicators, etc. among the fund companies do not allow FOF funds to achieve true market-wide optimal allocation. Most of them are based on the existence of similar products, and the company’s products are preferentially selected.Whether the company’s subsidiary products are of high quality.

  In addition, FOF is to solve the problem of customer matching.

FOF is difficult to win with performance, so how to make investor selection becomes difficult.

To do a good job, let investors realize that the best is the match, not the better the income gradually, but it takes a process.

Moreover, as a new product, there is little practical experience, and the reserve and selection of talents is also a difficult point for FOF.

  I feel that FOF is getting more and more tasteless .