news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Editor's note: Recently, the State Council issued the "Several Opinions on Strengthening Supervision, Preventing Risks and Promoting High-Quality Development of the Capital Market", proposing to comprehensively strengthen the investment and research capabilities of fund companies, enrich the types of investable assets and investment portfolios of public funds, and shift from a scale-oriented to an investor return-oriented approach.

Tianhong Cloud Life Preferred Hybrid is a large-cap growth-style flexible allocation fund under Tianhong Fund, established on March 17, 2015.

Mianbao Finance sorted out public information and found that as of July 12, 2024, the net value of the A shares of the fund had increased by 0.1% in more than nine years since its establishment, underperforming the benchmark by more than 100 percentage points and ranking low among similar funds.

At present, the net value of 34 products under Tianhong Fund has fallen by more than 30% since their establishment, including many active equity products, and the fund company's investment risk control capabilities are questionable.

Tianhong Cloud Life Preferred A: Underperforming the benchmark by more than 100 percentage points since its establishment

Tianhong Cloud Life Preferred Mixed Fund was established in March 2015. It is a flexible allocation fund under Tianhong Fund. Its scale in the latest reporting period is approximately RMB 93 million.

The performance benchmark is: CSI Consumer Staples Index yield*60% + CSI Comprehensive Bond Index yield*40%.

As of July 12, 2024, the fund's net value fell 3.48% this year, ranking 1237/2301 among its peers.

After more than nine years of establishment, Tianhong Cloud Life Preferred Mixed A has a cumulative return of approximately 0.1%, still underperforming the performance benchmark by more than 100 percentage points, ranking 287/345 among its peers.

Choice data shows that as of the end of 2023, Tianhong Cloud Life Preferred Mixed Fund had accumulated a profit of about 128 million yuan, and collected a total management fee of 43.3104 million yuan during the period. In the first quarter of 2024, the fund lost 8.5215 million yuan.

Tianhong Fund: 34 of its products fell by more than 30%

Tianhong Fund was established in November 2004. It is one of the national public fund management companies approved by the China Securities Regulatory Commission. Its current registered capital is 514.3 million yuan.

Publicly disclosed information shows that Tianhong Fund currently has 8 shareholders, among which Ant Technology Group Co., Ltd. holds 51% of the shares, Tianjin Trust Co., Ltd. holds 16.8% of the shares, and Inner Mongolia Junzheng Energy and Chemical Group Co., Ltd. holds 15.6% of the shares, ranking the top three in shareholding ratio.

As of March 31, 2024, Tianhong Fund manages more than 150 public fund products (initial fund caliber; the same below), and the scale of public fund management is approximately RMB 1,131.132 billion.

As of July 12, 2024, 34 of the above products still lost more than 30% since their establishment, including active equity funds such as Tianhong Innovation Pilot A, Tianhong Consumption A, Tianhong Pharmaceutical Innovation A, and Tianhong High-end Manufacturing Mixed A, as well as passive index funds such as Tianhong CSI Biotechnology ETF.

Recently, the China Securities Regulatory Commission's "Opinions on Strengthening the Supervision of Securities Companies and Public Funds and Accelerating the Construction of First-Class Investment Banks and Investment Institutions (Trial)" pointed out that the long-term returns of investors should be improved. Industry institutions should be urged to strengthen their service concepts, continuously optimize investor services, strictly implement the investor suitability system, improve the investor protection mechanism, effectively improve investors' sense of gain and satisfaction, and continuously maintain the public's trust and confidence in the industry.

The net value of many of its products has fallen by more than 30% since their establishment. After collecting hefty management fees, how to achieve positive returns for investors is an issue that Tianhong Fund’s management and fund managers need to face seriously.

(Article serial number: 1812770973980692480/ZH)

Disclaimer: This article does not constitute any investment advice to anyone. Intellectual Property Statement: The intellectual property rights of Mianbao Finance's works are owned by Shanghai Miaotan Network Technology Co., Ltd.