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2013 Ten Bears base - on the global natural resources invest

时间:2014-01-19 15:28来源:未知 作者:admin 点击:
2013 Ten Bears base: the global natural resources investment losses over two percent This year, the overseas stock markets rose can say so envious of domestic investors, which also makes QDII fund performance over the previous few years has
2013 Ten Bears base: the global natural resources investment losses over two percent
This year, the overseas stock markets rose can say so envious of domestic investors, which also makes QDII fund performance over the previous few years has made significant recovery, but a closer look reveals that in the case for the better Under the background, there are still substantial loss of some funds allow investors to accept. Among them, the JP Morgan Global Natural Resources Fund -22.48% ranked the Galaxy Securities Funds Research Center - the penultimate one QDII global equity funds this segment field. Global natural resources investment losses of 22.48% on a year-round, said, "Bear" In recent years, due to the continued release of the Fed's quantitative easing policy, the U.S. economy showed signs of recovery as a whole, which makes investments in the global capital markets QDII benefit. According to Wind data show that this year there are nearly six QDII funds to get a positive return, and this corresponds to that part of the QDII fund is still the continuation of losses in previous years old, distressed investors anomalies which cast on the world natural Resource is a. According to Galaxy Securities Funds Research Center statistics, as of December 24, on the global natural resources investment QDII funds in the global equity decline of 22.48%, ranked last. In fact, as early as the first quarter of this year, the global natural resources investment has exposed the crisis. At that time its share of the net growth rate of -11.19% over the same period performance benchmark yield -8.25%, underperforming the benchmark 2.49 percent. In the first quarter, the fund realized gains -91.5 million profit -634.87 million and net assets of the Fund for the end of the period 51,569,200 yuan, compared with the fourth quarter of last year, revenue, profit, and the absolute value of the net assets of the three indicators were decreased (the fourth quarter of last year realized gains -40.12 million, net profit -412.84 million net assets 56,903,800 yuan), which fell 9.37% of net assets. In a quarterly "performance that" one of the fund are not looking for their own reasons, but at great length the net decline due to market, and that natural resource stocks after two years of continuous decline, the valuation has been low to History bottom. But the fact is that the bottom does not appear, fall continues. In its third quarter report, the fund manager Zhang outlook for the fourth quarter of expression is: "After the early fall, price fluctuations will not be as severe as in the second quarter, global economic growth momentum will affect the share price of the most important resource factors, our view is optimistic. "However, the reality proved once again that it was wrong! No fund manager performance gap significantly from year to talk about the advantages of the overall performance of QDII fund performance, both to the obvious disparity than ever before. Like the existing global natural resources investment fund such losses above 20 percent, there are so profitable ICBC Credit Suisse Global Select Equity Fund up 28.12% of the product. As the data in order to observe December 24 in the global equity funds QDII funds in this area, both rose more than 50% of the gap. But why the same type of fund performance difference is so big it has baccarat online gambling back together to build a casino gaming network? We have similar positions in detail the range of investment Bank Global Natural Resources Equity Fund and the Global Natural Resources Equity Fund investment both in the third quarter compared. Look past the region's top ten holdings, Bank Global Natural Resources Fund has just seven just three stocks Hong Kong stocks; while the cast dispersion Global Natural Resources Fund will have a lot of, in addition to a Hong Kong stock and two stocks, there were more than just London and Toronto stock subject. While most of us are not familiar with foreign companies, but Domestic investment perspective, Bank Global Natural Resources Fund mainly holds Hongqiao Group, SPT Energy, Sinopec refining such oil and gas services and colored processing enterprises. And on the global natural resources investment fund mainly holds BHP Billiton, Rio Tinto, Royal Dutch Shell and CNOOC such nonferrous metals, oil production-oriented enterprises. As we all know, the price of non-ferrous metals and petroleum and petrochemical declined sharply in recent years, the results fluctuate very intense, which is also on the global natural resources investment and an important cause of unsatisfactory performance. According to the investment scope of global natural resources investment requirements, it is entirely possible to configure some energy through multi-equipment and services, processing enterprises to reduce the volatility of the stock performance, but it did not do so, that fund performance loss of more than 20% this year , while Bank of global natural resources, but up 17.28% net. Currently, responsible for the global natural resources investment fund managers as Zhang Jun, Yang Yifeng while he also co-manages the investment and the Asia-Pacific Advantage Fund, the fund losses of 1.2% in the same year, the Galaxy Securities Funds Research Center in Asia Pacific Equity Fund QDII , the same type of fund is the best performing earnings more than 40%. Zhang's business experience shows that it graduated from Fudan University, Shanghai International Trust Co., a former manager of international business, the transaction manager. Joined in June 2004 JP Morgan Funds Management Limited, trading as Director from October 2007 to any investment manager. Since March 2008 as the advantages of JP Morgan Asia Pacific Equity Securities Investment Fund Manager with effect from March 2012 also served as the JP Morgan Global Natural Resources Equity Securities Investment Fund Manager. From the above experience to see, Zhang investment experience in global capital markets is not rich performance since its 2008 management QDII is also not good, but even so, he also manages two funds. In the internal investment fund companies, as well as a number of fund managers adopt this "a drag" management model, investors can easily see, the investment fund company's funds inferior performance reason, in the final analysis be attributed to talent The scarce. (Heineken International reporter Zhang Compro Orange) html模版2013年十大熊基:上投全球天然资源亏损超两成
今年以来,海外股票市场的涨幅可以说令国内的投资者羡慕不已,这也使QDII基金业绩较前几年有了较大回升,但仔细观察就会发现,在如此向好的背景下,还是有一些基金大幅亏损,让投资者难以接受。其中,上投摩根全球天然资源基金以-22.48%位列银河证券基金研究中心——QDII全球股票型基金这一细分领域的倒数第一位。  亏损22.48% 上投全球天然资源全年称“熊”  近年来,由于美联储量化宽松政策的持续推出,令美国经济整体表现出复苏迹象,这让投资全球资本市场的QDII获益匪浅。根据Wind数据显示,今年以来有近六成QDII基金获得了正收益,而与此对应的是,部分QDII基金却依然延续着前几年的亏损老路,令投资者异常苦恼,其中上投全球天然资源就是一只。  据银河证券基金研究中心统计,截止到12月24日,上投全球天然资源在QDII全球股票型基金中跌幅为22.48%,名列倒数第一。  其实早在今年一季度,上投全球天然资源就已经暴露出了危机。当时其份额净值增长率为-11.19%,同期业绩比较基准收益率为-8.25%,跑输基准2.49个百分点。第一季度,该基金实现收益-91.5万元,利润为-634.87万元,期末基金资产净值为5156.92万元,与去年第四季度相比,收益、利润及资产净值三项指标绝对值均有所下降(去年第四季度实现收益-40.12万元,净利润-412.84万元,资产净值5690.38万元),其中资产净值下降9.37%。  在一季报“业绩表现说明”一项中,该基金并未寻找自身原因,而是大篇幅将净值下跌归结于市场,并表示天然资源类股经过连续两年多的下跌,估值已经低到历史底部。然而事实是,底部并未出现,下跌还在继续。  而在其三季度报告中,基金经理张军对四季度展望表述是:“经过了前期下跌,价格波动不会再像二季度那样剧烈,全球经济增长的动能将是影响资源类股价的最重要因素,我们的观点是乐观的。”然而现实再次证明,其又错了!  业绩差距明显 基金经理无优势可谈  从今年QDII基金的整体业绩表现看,首尾差距比以往要明显的多。既有像上投全球天然资源这样亏损在20%以上的基金,也有工银瑞信全球精选股票基金这样盈利达28.12%的产品。以截止到12月24日的数据观察,在全球股票型基金QDII基金这一领域中,首尾涨幅差距就超过了50%。  但为什么同类型的基金业绩相差这么大呢网上赌博回百家乐已博彩网共同打造娱乐城?我们对投资范围相近的交银全球自然资源股票基金和上投全球天然资源股票基金二者三季度的持仓明细进行了对比。从前十大持股的地区看,交银全球自然资源基金有七只是美股三只是港股;而上投全球天然资源基金则要分散很多,除一只港股和两只美股外,另有多只是伦敦和多伦多股票标的。虽然其中大部分的国外公司我们并不熟悉,但从其投资的内资股看,交银全球自然资源基金主要持有宏桥集团、华油能源、中石化炼化这种油气服务和有色加工企业。而上投全球天然资源基金则主要持有必和必拓、力拓、皇家壳牌和中海油这类有色、石油生产型企业。  众所周知,有色金属和石油石化的价格在近些年出现了大幅下跌,业绩波动十分剧烈,这也是上投全球天然资源业绩不如人意的重要原因。而根据上投全球天然资源的投资范围规定,它完全可以通过多配置一些能源设备及服务、加工型企业的股票来降低业绩波动,但它却没有这样做,以至于基金业绩今年亏损超过20%,而交银全球自然资源的净值却上涨17.28%。  目前,负责上投全球天然资源的基金经理为张军,而同时他还与杨逸枫共同管理着上投亚太优势基金,这只基金在今年银河证券基金研究中心亚太股票型基金QDII中同样亏损1.2%,同类型基金中表现最好的则盈利超过40%。  张军的从业经历显示,其毕业于复旦大学,曾任上海国际信托有限公司国际业务部经理、交易部经理。2004年6月加入上投摩根基金管理有限公司,担任交易总监,2007年10月起任投资经理。2008年3月起担任上投摩根亚太优势股票型证券投资基金基金经理,2012年3月起同时担任上投摩根全球天然资源股票型证券投资基金基金经理。  从以上经历看,张军在全球资本市场中的投资经历并不算丰富,其2008年管理QDII以来的业绩表现也并不出色,但即使这样,他还是同时管理着两只基金。而在上投基金公司内部,还有多位基金经理采用这种“一拖多”的管理模式,投资者不难看出,上投基金公司旗下的基金之所以业绩逊色,说到底还是归咎于人才的匮乏。(喜力国际 记者 康博 张桔)(责任编辑:admin)
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