news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

China News Service, July 15 (Xue Yufei, intern Chen Jiujiu) China Asset Management recently announced that due to work needs, fund manager Zheng Zehong resigned from the position of fund manager of four products. So far, this active equity fund manager who manages more than 10 billion yuan has no funds under management.

According to the website of the China Securities Association, Zheng Zehong's fund qualification has not changed and he is still working at China Asset Management. On the 15th, a person related to China Asset Management told China Business Network that Zheng Zehong is still working at the company.

　　The scale of management still reaches 10 billion

According to Hua Xia Fund, Zheng Zehong joined Hua Xia Fund in June 2012 as a researcher in the investment research department, and has been a fund manager since 2017. He has been investing for more than 7 years and has managed a total of 6 funds.

The first fund manager of Huaxia Energy Innovation Stock, which was established in June 2017, was Zheng Zehong, and this was his first time as a fund manager. In the first two years of the fund's operation, the product performance was not outstanding, but from 2019 to 2021, both performance and scale entered a period of explosive growth. At the end of 2018, the scale of the fund was only more than 300 million yuan, but by the end of 2021, the scale had skyrocketed to 23.841 billion yuan. From 2019 to 2021, the fund's yields were 50.49%, 120.65%, and 43.73%, respectively.

The explosion in scale and performance has greatly increased his fame.In an article published in May 2021, Huaxia Fund's WeChat official account "Huaxia Fund Wealth" called Zheng Zehong "the No. 1 energy investor." According to the article, as of the end of the first quarter of 2021, Huaxia Energy Innovation Stock was the largest new energy theme fund in the market.。

However, since the end of 2021, the return on Huaxia Energy Innovation Stock has begun to retreat, and has not been able to reverse the downward trend since then. As of the end of the first quarter of 2024, the size of the fund has dropped to 11.95 billion yuan, nearly half of the end of 2021.

At the end of 2021, Zheng Zehong also managed two other funds, with a total scale of more than 30 billion yuan. Before resigning, the four funds he managed were Huaxia Core Manufacturing Mixed, Huaxia Energy Innovation Stock, Huaxia Times Pilot Two-Year Holding Mixed and Huaxia Growth Pioneer One-Year Holding Mixed, with a total scale of about 16.565 billion yuan at the end of the first quarter of this year. In more than two years, Zheng Zehong's management scale has shrunk by about 46.54%.

　　"Three positives and three negatives" during his tenure

Judging from the returns of the six products managed by Zheng Zehong, the returns during his tenure were "three positive and three negative". The China AMC Stable Growth Fund and China AMC High-end Manufacturing Mixed Fund, which he resigned in June 2020, both performed well. According to Wind data, during his more than one year in office, the returns of these two funds were 72.90% and 36.52% respectively.

Among the four products that resigned this time, China Energy Innovation Stock has made considerable profits. During Zheng Zehong's tenure, the return rate was 114%. However, further analysis will reveal that the fund's yield rate has also shown a significant pullback in recent years. This product caught up with the opportunity of a sharp rise in the share price of the new energy sector. At the end of November 2021, the return rate of China Energy Innovation Stock since its establishment once exceeded 300%. Entering 2022, the stock price of the new energy sector has undergone a substantial adjustment, but Zheng Zehong still expressed optimism about the sector and did not make substantial adjustments to the position. In the quarterly reports of 2022 and 2023, the fund revealed that the positions were mainly allocated to the "new energy vehicle industry chain", "leaders in various links in the middle and lower reaches of new energy vehicles", and "leaders in various links in the upper, middle and lower reaches of new energy vehicles and photovoltaic industries".

　　In 2022, 2023 and as of July 12, 2024, the returns on China Energy Innovation’s stock were approximately -26.72%, -13.77% and -12.83%, respectively.

Compared with the heavy investment in new energy by Huaxia Energy Innovation Stock, the investment of Huaxia Core Manufacturing Hybrid, Huaxia Times Pilot Two-Year Holding Hybrid, and Huaxia Growth Pioneer One-Year Holding Hybrid is relatively broad. The investment targets of these three products are relatively uniform, and sectors such as new energy, semiconductors, gold, and oil transportation are all within their stock selection range. In the first quarter of 2024, the artificial intelligence sector was also added.

According to Wind data, during Zheng Zehong's tenure, the tenure returns of Hua Xia Core Manufacturing Mixed, Hua Xia Times Navigator Two-Year Holding Mixed, and Hua Xia Growth Pioneer One-Year Holding Mixed were all negative, at -19.40%, -14%, and -26.44%, respectively.

(For more reporting clues, please contact the author Xue Yufei: [email protected]) (China News Service APP)

　　(The views in this article are for reference only and do not constitute investment advice. Investment is risky and you should be cautious when entering the market.)

　　All rights reserved by China Business Network. No organization or individual may reprint, excerpt or use in other ways without written authorization.

Editor: Wei Wei and Li Zhongyuan