news

Top fund manager Liu Gesong's reputation collapsed? GF Industry Select held A for three years and lost more than 8 billion yuan in three years, but received 400 million yuan in management fees

2024-08-21

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Recently, a securities research institute sorted out the top ten issues that institutions have paid attention to recently. Among them, many three-year holding period products will expire in a concentrated manner, which has attracted much attention from the market. In the view of some investors, public funds issued a batch of three-year products at the peak of 2021, and will enter the open daily redemption state from August to December this year. According to Wind data, as of August 20 this year, a total of 17 funds will be unblocked in the second half of the year (A/C only counts Class A).

Data source: Wind

By month, there were 4 funds unblocked in August, 3 each in September, October and November, and the largest number of funds was unblocked in December, with a total of 5.

From the performance point of view, "collective losses" has become the report card handed in by the above 17 funds in the past three years of operation. Among them, GF Industry Strict Selection Three-Year Holding A has the most severe decline, with a decline of 56.49% since its establishment, which has been "halved"; Dongfanghong Qixing Three-Year Holding A has fallen by 50.63% since its establishment; Harvest Strategy Vision Three-Year Holding Period, Dongfanghong Ruihe Three-Year Fixed Open A, and Dongfanghong Smart Selection Three-Year Holding A have all fallen by more than 40% since their establishment.

GF Industry Strict Selection Three-Year Holding A was established on August 26, 2021, with a total issuance of 14.87 billion shares and a total of 270,800 subscribers. It is managed by the well-known fund manager Liu Gesong. As of August 20 this year, the cumulative return rate of GF Industry Strict Selection Three-Year Holding A since its establishment was -56.49%, with a loss of more than 8 billion. The performance return in the past two years was -51.57%, and the performance return in the past year was -15.78%, ranking low among the same type of equity-oriented hybrid funds. This result also made the star fund manager Liu Gesong questioned.