The performance ranking has fallen significantly, and the income has fallen by 15.67%during the year. Zhu Shaoxing "Hero is late"?

Zhu Shaobu, known as the public fund "Buffett", may have been unhappy in the past two years.

According to the data of the Tiantian Fund, the wealthy Guo Tianhui Growth Fund, which was traded by Zhu Shaoxing, has not performed well in the past two years. Among them, the revenue in the last two years was -4.78%, and 8.08%of similar funds of similar funds were run away. Only a slightly won the CSI 300 Index-11.03%income. It ranked 829 among the 1190 funds in the same kind, ranking 69.7%, and the performance was not ideal.

In terms of short -term income, the performance of the wealthy Growth Growth Fund is even more "collapsed".

According to the data, the revenue of the wealthy Growth Growth Fund in the past year is only -15.84%, and the income of the same fund-11.81%, the CSI 300 Index-15.37%; this year, the fund's benefits are only- 15.67%, the same income of the same fund-11.03%, the Shanghai and Shenzhen 300 index-15.28%revenue, ranked 1894 among similar 2623 funds during the year, ranking in 72.2%. A slight decline.

As one of the well -known fund managers in the industry, Zhu Shaoxing, who has more than 20 years of experience in his career, has created a "20 times 20 times" super record. It is one of the rare evergreen trees in the industry and the absolute "top card" of the rich country fund. However, with the sharp changes in the market investment style, the fund veteran has also begun to encounter Waterloo. In addition to the poor performance of the fund's fund, the fund has been continuously redeemed in recent quarters, and the scale has shrunk by more than exceeding the scale. 6 billion.

From the "20 times" to 15.78%in the year, why does Zhu Shaoxing's performance have such a big gap? Is this fund veteran who has been in the industry for more than 20 years, is it "hero late"?

Twenty times in 15 years, Zhu Shaobing's glorious history

Regarding Zhu Shaoxing, a legendary story has been circulating in the industry.

According to media reports, during the financial crisis in 2008, a Kimin Nami named "Ji Zhanzhu" bought a wealthy and Heavenly Growth Growth Fund and bought a total of 1.8374 million copies. After that, the net worth is about 1 yuan.

Perhaps because of forgetting the password, it may also be really confident in Zhu Shaoxing. This "Ji Zhanzhu" has been holding it after buying. By 2020, the cumulative increase in the growth of the wealthy and Heavenly Growth Fund has already been. It has exceeded 7 times, and the market value of about 2 million "Jianzhuzhu" that year has risen to 14 million by 2020; in 2021, the "Ji Zhanzhu" disappeared in the top ten holders list, perhaps the base, perhaps the base The people have successfully made a profit.

From this story, in addition to envy the founder can make a lot of money, we can also feel the powerful investment ability of Zhu Shaoxing -7 times in 12 years, this result is enough to be included in the industry milestone; But it is not the best record of Zhu Shaoxing.

Because he was able to obtain more stable returns for a long time, Zhu Shaoxing was also called the "Buffett" by the industry as a public fund.

Regarding the history of Zhu Shaoxing, the doctor of financial engineering graduated from Shanghai Jiaotong University has joined the Favimonian Fund since 2000 and has become a research analyst of the rich country fund. Due to his outstanding performance, Zhu Shaoxing will have been in the wealthy foundation fund for 5 years. It was the fund manager and managing "the growth of the country's Tianhui growth". It was this fund that made Zhu Shaoxing slowly on the pinnacle of life.

According to the data, after the management of the wealthy country's Tianhui Growth Growth Fund began in 2005, Zhu Shaoxing did not add other funds again, which was rare in the fund industry; It is disappointing. Since the management in 2005, the fund fluctuated upward, and in 2020, it also set a cumulative return of over 2000%, with an annual return rate of more than 20%.

However, it is the so -called "higher holding, the more miserable it falls", because Zhu Shaobing, who was pushed to the altar, was also pushed to the altar. After 2021, accompanied by the continuous decline of performance, it quickly fell down the altar.

Falling 15.78%during the year, Zhu Shaoxing fell down the altar

Zhu Shaoxing, known as the public fund "Buffett", encountered Waterloo in the past two years.

According to data from the Tiantian Fund, the income of the wealthy and Heavenly Growth Fund in the past two years is only -4.87%, and the average revenue of the same type is 8.09%from far away. 829 among the 1190 funds of similar kinds.

Looking at the short-term income, the revenue of the wealthy country's growth hybrid fund in the past year is -15.84, the revenue of the similar average of the same kind -11.81%and the income of the CSI 300 index; the income since this year is -15.67 %, Also undergoing the same average -11.03%income and the CSI 300 Index-15.28%income, ranked 1894 among similar 2623 funds, compared with the two-year revenue ranking.

Perhaps because the performance is not as expected, the "fund bar" of the wealthy country's growth hybrid fund is also complaining. Some investors even post a message "No longer touched Zhu Shaoxing's fund again", "This fund even CSI 300 300 is all 300. Do not win. "

From the perspective of the fund size, the scale of the wealthy Growth Growth Fund has also fallen significantly in the past two years. According to data, the fund's net assets at the end of June 30, 2021 were 40.852 billion, which was the highest value since its issuance in 2005; and on March 31, 2022, the scale of this fund fell to 30.995 billion yuan In just 9 months, the size of the assets fell by nearly 10 billion; as of June 30 this year, the fund's asset scale was 34.368 billion. Shrinking more than 6 billion.

In fact, the reason why Zhu Shaoxing's performance has changed from such a big change before, a large part of the reason from the sudden increase in scale.

In the fund industry, the so -called "scale curse" has always been circulated. Some fund managers who have performed well before. After the scale increased significantly, the performance is often not as good as the previous stage. At present, Zhu Shaoxing was influenced by the "scale curse".

From the perspective of data, since 2020, the Growth Fund of the Wells Fargo Tianhui has increased significantly. In the fourth quarter of 2019, the fund's net assets at the end of the period were 10.022 billion, with a total share of 4.176 billion at the end of the period; and in 2020, to 2020 In the third quarter of the year, the fund's net assets at the end of the fund exceeded 20 billion to 21.792 billion, and the total share of the period was 6.752 billion. In the second quarter of 2021, the fund's final net assets doubled again, reaching 408.52 to 408.52 100 million, the final share of the period was 11.117 billion.

With the rapid expansion of the scale, after the wealthy National Heavenly Growth Fund created a cumulative net value of 7.047 yuan in February 2021, it began to fall quickly; as of the close of August 15, 2022, the cumulative net value of the fund was 5.9899 yuan Although it has been two years, the cumulative net value decline in the fund has still exceeded 15%, and Zhu Shaoxing's myth of "continuous stability and revenue" has broken down.

Fund veterans, are you going to "hero late"?

In fact, from the data point of view, this is not the first time that the wealthy Tianhui Growth Fund has experienced a significant retreat.

According to data statistics, since its establishment in 2005, the Growth Fund of Wells Fargo Tianhui has fell sharply, after the end of the big bull market in 2007, after the "leverage bull market" in 2015, in 2018 The decline and the major retreat in the past two years.

However, in the last two years of the wealthy Growth Growth Fund, wealthy Growth Fund is still significantly different from the previous three times.

From the perspective of the general environment, the previous three major retreats are mainly affected by the market's irrational plunge. However Related, according to data statistics, the performance of the Shanghai Stock Exchange Index in the past two years is -5.65%, the performance of the CSI 300 index is -19.58%, and the performance of the GEM index is -9.29%. An irrational decline like before.

The reason why the Rich Country Growth Growth Fund has performed far less than before, but it is actually related to Zhu Shaoxing's own operation.

From the perspective of the position of the wealthy country's growth hybrid fund, as of the second quarter of this year, the heavy positions of the wealthy Guo Tianhui Growth Fund were still the traditional large consumer stocks such as Moutai, Wuliangye, and Illi in Guizhou. It was only the top ten stocks in the top ten stocks in the third quarter of last year, but at this time, the Ningde era was close to the high level. From now on, Zhu Shaoxing's buying in Ningde was quite "high -pick -up".

In addition, Zhu Shaoxing has been similar to the Ningde era in recent quarters of new energy, chips and medicines since the past few quarters. For example, Well's shares and Lixun are precise. In recent quarters, the performance has been weak, and the pharmaceutical leader Yin Kangde, the two quarters of which he holds, has a decline of nearly 20%.

Obviously, from the operation of Zhu Shaoxing's operation, it also knows that today's investment style has changed greatly, so some technology stocks have also been adjusted, but most of these positions have appeared in "high -level reception". And this has also triggered investors' remarks on whether Zhu Shaoxing has been "heroes late"; in addition, in the case of new energy vehicles and photovoltaic occupation of half of the sky, Zhu Shaoxing, as an old fund manager, may be difficult to keep up with the changing now. Quotes.

It is true that Zhu Shaoxing has indeed created a brilliant achievement in the past, but with the big changes in the market style today, the fund veteran already has signs of "hero late"; For a longer time, perhaps as long as the style changes, Zhu Shao wakes up to "return the king", but will we switch back to the previous style, we still don't know; from the perspective of scale data, Zhu Shaoxing proves that his time may be possible for his time. Not much.

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