The third quarter net redemption fund of 87.9 billion debt base net redemption ratio more than 25%

⊙ reporter WuXiaoJing
In the bond market under the background of continuous adjustment, the first half of "unlimited scenery" bond funds in the third quarter suffered a large proportion redemption, and index funds are weak market "unexpected" to be the only one get net purchase fund variety.
Day phase statistics show that 68 fund company's 1090 open-end funds in the third quarter encounter net redemption of 87.887 billion, net redemption ratio reached 3.29%, its total share by 2 quarter of 2.68 trillion dropped to the third quarter of 2.59 trillion.
Debt base net redemption rate of 25.13%
In the bond supply pressure and market funds under double pressures of tight balance, bond market appeared in the third quarter for a quarter of the adjustment. The third quarter with bond market appear adjustment, bond fund "scenery is no longer", bond fund encounter large proportion redemption, investors profits mentality highlights.
Day phase statistical data display, no matter from net redemption dose or net redemption scale, the third quarter bond funds are encountering "hit". In just a quarter inside, bond fund encountered 76.679 billion a net redemption, net redemption ratio reaches as high as 25.13%, the bond fund total share by 2 quarter of 305.15 billion dropped to 3 quarter of 228.508 billion.
Will net redemption ratio larger bond fund is concerned, 25 during only debt base share encountered "ks", net redemption ratio over 50%, among them, 8 only debt base net redemption ratio more than 80%, and the net redemption proportion biggest a debt base even reached 93.93%.
In the fixed income products, in addition to debt base encounter redemption outside, the second quarter by investors favor monetary fund, the third quarter also suffered a small net redemption, 3 quarter monetary fund net redemption of 777 million, accounting for more than 0.22%, as at the end of the third quarter, monetary fund share of 360.15 billion by falling slightly to 359.374 billion a.
Weak market index funds won net purchase
Although boomed in the third quarter show almost all the way down trend, and hit a new low of 1999.48, but the index fund is in such a weak market under, "contrarian" won the net explain buy, be obtained only the third quarter net purchase fund variety.
Day phase statistics data show that the third quarter index funds won the 12.265 billion's share of the net explain buy, net purchase ratio reached 3.24%, the share by the end of the second quarter of 384.107 billion "inverse city" rise to 390.46 billion copies.
Specifically speaking, only 138 index fund, there are 42 only get net explain buy, accounting for nearly thirty percent ratio. It is notable that part of the hierarchical funds and ETF index fund investors by the special favour. Among them, the citic prudential 500 classification fund net purchase ratio over 119.74%, fine fruit 300 etf net purchase ratio reached 59.91%, Yin resources net purchase ratio is more than 50%.
In addition to index funds outside, the rest of the rights and interests kind fund variety are encounter different levels of net redemption, among them, the active investment stock fund net redemption smaller, only net redemption of 7.814 billion, net redemption ratio is 0.88%, the share by the beginning of 888.795 billion dropped to 879.874 billion copies.
Is mixed type fund is concerned, also encounter small net redemption, its share of 652.363 billion by dropped to 641.741 billion copies, encounter net redemption of 10.638 billion, net redemption ratio for 1.63% of she.
QDII fund although in the first three quarters performance good, but investors in the mentality of profits, net redemption ratio also have looked up. Its share by 2 quarter of 90.14 billion dropped to 85.896 billion copies, net redemption of 4.245 billion, net redemption ratio is 4.71%.
Fund companies, "ransom have had the bigger differentiation, among them, bo, citic prudential and the south fund company such as the third quarter are received more than 4 billion net explain buy, however, also have three large fund company with the third quarter net redemption of over yuan.


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2012 fund three quarterly report

The third quarter 75 billion fund deficit sharply reduce the cycle stock

The securities times reporter ZhuJingFeng 68 fund company's fund third quarter report released today after all. By the stock market and bond market both adjustment effect, the fund third quarter overall loss of nearly 75 billion yuan, since this year the overall profit shrunk substantially. In the economic decline continuously under the background of the third quarter fund for mechanical equipment, financial real estate and so on traditional cycle greatly to reduce their holdings of shares, such as biological medicine plate is increasing emphasis.
According to the days of good to fund quarterly report statistics, all kinds of fund total losses in the third quarter of 74.974 billion yuan, including stock type, mixed type, bond type and break-even fund loss 57.213 billion yuan respectively, 24.001 billion yuan, 1.16 billion yuan and 155 million yuan. The overseas market in the third quarter performance grab an eye, qualified domestic institutional investors (QDII) fund obtain 3.511 billion yuan profit, money market fund earnings remain stable, the third quarter earn a total of 4.043 billion yuan. According to statistics, in the first half of this year all kinds of fund total profit of 99.756 billion yuan, after the third quarter loss, the fund overall profit shrunk dramatically to only 24.782 billion yuan.
Third quarter fund present the net redemption situation, all kinds of fund of 87.8 billion total to appear net redemption, net redemption rate of 3.29%, among them by short-term financial debt base with huge redemption influence, bond fund share shrink 76.6 billion copies, shrink range reaches 25%. Only the index fund appear of 12.2 billion net purchase.
As the market fell and partial shares fund positions appear sharply. According to statistics, including stock type, mixed type and enclosed fund, the partial shares fund position three season for 76.93%, chain fell by 2.74%. Fund in the third quarter increase shareholding restructuring efforts, to sany (micro Po) (9.16, 0.26, 2.76%), China merchants bank (10.28, 0.09, 0.87%), Shanghai pudong development bank (7.46, 0.07, 0.93%), ltd.gemdale corporation (5.02, 0.17, 3.28%) and zoomlion (8.45, 0.33, 3.76%), and other machinery, finance, real estate plate stocks sharply reduced the, the Shanghai household (50.19, 0.11, 0.22%), dahua shares (42.54, 0.15, 0.35%), and other stocks most obvious increasing.
Looking the fourth quarter, most of the fund still remain cautious attitude. Fine fruit fund assistant to the general manager ShaoJian think that, if continued to the current relevant economic and capital market policy orientation, the next stage a-share market may still lack of significant systematic opportunity. In the economic level, the economic growth can be hard to significant picks up, meanwhile, inflation may be in the fourth quarter to rise, and the next year to continue to restrict the policy formation. In the fourth quarter, the forthcoming eighteen big concern, such as can come about investors widely expected policy or program, is expected to bring capital market gradual market. At the international level, need to focus on the fourth quarter financial cliff progress. In such a background, the future will continue to maintain sustained growth of the investment strategy is given priority to, the configuration through cycle industry, at the same time will continue to track the eighteenth big policy orientation and strive to adjust strategies.


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Fund shareholding proportion of outstanding shares increase more than 10% of the stock has 11 only, in turn, respectively is GuangLian reach (17.89, 0.04, 0.22%), kang edge pharmaceutical (20.91, 0.30, 1.46%), the hundred pharmaceutical (19.98, 0.00, 0.00%), and made - precision (30.20, 0.20, 0.67%), Chinese medicine is consistent (32.03, 0.32, 1.01%), the letter quality motor (21.00, 0.56, 2.60%), China resources san-jiu (22.25, 0.20, 0.89%), dahua shares (42.54, 0.15, 0.35%), DBN's undertaking, worth (20.88, 0.52, 2.43%), sea cisco (30.00, 0.30, 1.01%) and HuaLu (30.350, 0.55, 1.78%)
LiuTian
At present 68 fund company 's fund third quarter report has been released all finished.
Third quarter due to the stock market, bond market both adjustment, fund Third quarter overall loss of nearly 75 billion yuan. With the fall of the stock market, the fund positions have fallen, defensive industry be favorred.
Reduce stock positions
The third quarter, The Shanghai composite index (2066.209, 35.37, 1.68%) fell 6.26%, The third quarter of fiscal fund theme also have become "loss". Meanwhile, The fund has also changed The continuous three quarters and warehouse action to reduce positions. An in The industry configuration, medicine and food and beverage, etc big spending defense industry still favor by The fund.
In the stock market In the process of falling, the fund obviously taken to reduce positions avoid risk strategy. According to the three quarterly report data, active management of stock fund positions from the end of the second quarter to 83.48%; Mixed type fund positions also reduced from 73.02% to 69.87%, Meanwhile, stock fund and Mixed type fund have increased the proportion of bond, active management stock fund increased from 3.58% to 3.97%, Mixed type fund increased from 14.66% to 16.30%.
From the industry configuration scale, the third quarter fund allocation of the high

Fund three quarterly report: the Chinese still to lead YiFangDa before missing three treasures seat

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The third quarter loss 75 billion fund scale growth approaching 2.5 trillion
Abstract: by 26, 68 fund company's 1175 fund (hierarchical funds combined calculation, A/B/C separate statistics, including connection fund) three quarterly report disclosure finished. Good day of statistics data show that the third quarter in the stock market and bond market callback falling under the action of common, each company's fund current profit, add up to a negative value, total loss 74.974 billion yuan. According to relevant data calculation, at the end of the third quarter, 70 fund company's public offering fund asset management scale increased to 2.467424 trillion yuan (including connection fund).
Small make up comment on: fund three quarterly report also in succession in disclosure, overall, stock fund overall losses. The segmentation type, the third quarter of fiscal "star" is still a bond fund. Data show that by the end of the third quarter, debt base scale has reached 358.757 billion yuan, a medium-term an increase of 69.724 billion yuan, and the end of last year compared to 162.399 billion yuan scale, has doubled. The fastest growth is financing debt base, what is worth mentioning, the third quarter monetary fund scale appear small shrink, in the first half of a decrease of 778 million yuan to 359.374 billion yuan, and the stock fund and mixed type fund scale both down, each a decrease of 63.811 billion yuan and 27.359 billion yuan.
Huge losses + redemption YiFangDa fund (micro Po) the company slipped into "old four"

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Fund three quarterly report: 429 fund loss 26.909 billion yuan

s

Although in the premise of losses, many fund appeared net redemption, but there are still many performance excellent fund to realize the share of the purchase. In the published quarterly report of fund company, there are 10 realize share net explain buy, but overall there are still 18.48 billion a net redemption
The third quarter a sharp drop in the stock market, the fund three quarterly report to loss is given priority to inscription, not surprising. As of October 25,, A total of 429 fund (A/B/C calculated separately, hierarchical funds combined calculation) published three quarterly report, total loss 26.909 billion yuan, and the second quarter earnings these funds 19.809 billion yuan; Net asset value amount to 769.463 billion yuan, and at the end of the second quarter 780.809 billion yuan 11.346 billion yuan than shrink, shrink range reaches 1.45%. As for the fourth quarter investment prospects, from performance report disclosed the look of content, the fund manager for the market outlook generally is not optimistic.
But it is worth noting that the third quarter have 10 fund company realize share net explain buy, especially some performance good small and medium-sized firms are also poor third quarter achieved net explain buy, it serves to show market "undercurrent" surging.
Loss has become a habit
Net redemption into a warm current
Although in the premise of losses, many fund appeared net redemption, but there are still many performance excellent fund to realize the share of the purchase. In the published quarterly report of fund company, there are 10 realize share net explain buy, but overall there are still 18.48 billion a net redemption. That investors in the macro economic downturn of funds in the stock market the profitability of the entities concerns. However, some performance good small and medium-sized companies in the third quarter of the purchase. Citic prudential fund such as compared to the second quarter net purchase rate is 28.90%, this is mainly comes from citic prudential select growth share in September increase of about 3.9 billion, including the fund 2012 annual first turn share dividends. "11" long holiday, PuYinAn cheng monetary B by investors chase after hold in both hands. According to statistics, the fund share in September increase nearly 650 million, also makes PuYinAn cheng fund (micro Po) in the third quarter the company overall net purchase rate reached 15.16%. Zhejiang shang peace AnDaHua two companies scale relatively small, investors to redeem the overall stock share larger impact. The third quarter have two companies' net redemption rate in more than 15%.
In addition, as the first three quarters of this year's championship, upthrow emerging power by capital chase after hold in both hands, the third quarter net purchase of 209 million copies, share increased by 78.16%. In addition, the first three quarters of equity funds in the performance ranking the third, fifth central new driving force and xinhua industry cycle wheel dynamic share growth also impressive, and for net purchase ratio up to 49.34% and 60.41% respectively. Since this year partial shares fund sales anomaly difficult situation, these funds depend on "grab an eye" performance gain share growth.
Good buy fund statistics show that in configuration, the third quarter of the fund stock investment value more than the highest three industry in turn is financial insurance, food and beverage and mechanical equipment, accounting for more than 14.20%, 12.31% and 11.15% respectively. From the industry configuration can see, medical biology, food and beverage, etc big consumer plate investment than growth are relatively obvious, the show fund in the macro economic slowdown big background, improve the defensive plates asset allocation. In addition, in China's economy in the process of transformation, the electronic industry showed a certain leading role, since this year like dahua shares (42.54, 0.15, 0.35%), AnJie technology leading enterprises increase as the key configuration electronic plate fund brought the big income.
Pessimistic gradually into a kind of destiny
Eighteen big into industry beacon
The third quarter performance misery, the fourth quarter can have a transfer? From the current three quarterly report disclosure condition looks, fund managers for the market outlook is not optimistic. Reporters through many fund quarterly report, pessimistic atmosphere thick, "the market difficult to have big system opportunities and stock market lack of rising opportunity" and so on the words appear frequently.
Dacheng fund manager core double power in three quarterly report, said the outlook in the fourth quarter, the economy is still in the early stage to capacity, in the long term (3 to 5 years) economic fundamentals look, the present economic big probability won't appear to a larger extent of "V" type fluctuation, in production stage, the economic fluctuation mainly inventory cycle brings small-scope fluctuation is given priority to. The current economic may have the bottom of the cycle into the small area, but the strength of the recovery is weak, based on the judgment, the market trend are hard to show a big market.
"On the one hand, through sustained economic data and policy expected correction, the market expectation has fallen to a low level, valuations have strong attraction, more and more industry capital began to increasing or buy back shares; on the other hand, infrastructure investment began to appear restorative rise, real estate to the progress of inventory is good, developers take to start and the enthusiasm of the recovery, and at the same time, the American economy is going well, the debt crisis stabilises also helps to export turn good, cyclical negative factors to begin to turn positive. But it is undeniable that China's economic structural problem is still outstanding, in view of the real estate prices rebound, monetary policy may also will continue to lag, and long-term economic growth momentum is not clear, the stock market is still lack of systematic rising opportunity." Po concentration when the fund manager in the quarterly report also is "low key".
Oriental strategy growth stock fund managers YuXinZe have expressed optimism. He thought, "the fourth quarter is expected to China's economy went out of whack". At present, China's investment and consumption are steady growth, the domestic demand potential is tremendous. Effect of China's economic growth is mainly export. The debt crisis relief will effectively improve overseas consumption, so as to stimulate China's export. In this case, the enterprise complement inventory behavior of ascending to economic growth. The economy stabilises combined with market's overall undervalued, will help the capital market performance.
Long filled with DE fund managers are more concerned about future strategy, they believe that in the future a quarter, need to balance "economic when exploratory bottom and domestic steady growth policy when essence push" this one contradiction, the short term need more actively balance policy and economic, pay close attention to the fourth quarter eighteen big meeting of the banking industry and the rate of growth of long-term and medium-term loans; policy

The alternative investment fund private gradually into mass games

ZhuXiYan ZhaoJuan
On November 1, first, second level market barriers will be further demolition. The Securities regulatory commission issued revised the fund management company specific customer asset management business pilot method "(hereinafter referred to as the" measures ") will be promulgated in this. Public offering fund will be for the first time allowed into equities, bonds, and other alternative assets investment fields.
To this, public offering funds have different reactions. The reporter understands, some fund companies are preparing to only door was established subsidiary company, equipped with personnel, to enter the private equity market. However, some other fund company's attitude was not clear even cold. "The new capital, organization approach, is expected to stimulate the current low operation of the private equity market once again active. At the same time, because public offering fund to join will also let the private equity market to more popular market. A private equity would say.
Public offering for
"Method" article 9 points out, "asset management plan assets invested in not through the stock exchange transfer of shares, bonds and other property rights". At the same time provisions called it "a particular asset management plan called special asset management plan", and requirements, the fund management company shall set up a special subsidiary, the setting up of specific plans to launch special asset management business.
This is the public offering fund for the first time allowed into equities, bonds, and other alternative assets investment fields, and in the need to recapitalise scale, the need to recapitalise process, regulatory filing, etc all have certain breakthrough, or for private equity need to recapitalise the development of the market to provide a new road.
An recently in a Shanghai fund 's party, each of the methods GuGong offerings for the enthusiasm is not the Sam

Fund favour high growth stocks

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Along with the economic to inventory cycle phases end, based on the fourth quarter may fill inventory and base effect, the domestic economic third quarter sole, four quarter mild rebound gradually become the market consensus. Part of the funds think that fourth quarter macro economy will reason or bottom wandering, a - share market to maintain shock trend. In the investment strategy, performance stable growth and high growth stocks suffer the favor.
Four quarter or stabilises picks up
Fund think the economy is in the bottom stage, is expected to fourth quarter GDP will likely stabilises even modest recovery, but the a share market is still difficult to appear trend opportunities, or trade sideways.
HuaAn fund (micro Po) deputy general manager and chief investment officer ShangZhiMin think, from the current domestic economic situation look, though still in a downward adjustment in the process, but the existing signs of stabilising, the market is expected to remain concussion uplink. Cinda Australia silver thinks, from the fundamentals perspective, currency data, export data, price data display the current economy stabilises appear the symptom; From the currency credit side, social financing total scale growth, showing the economy stabilises receive money support; From the demand level, due to the overseas market demand downturn, domestic demand and consumption demand is still inadequate, enterprise investment demand decline, the domestic economy will be built to maintain the end of time; From the market level, enter since October, some the market fall has many, in the dimensional stability expectation and economic rebound is expected to promote, the A shares in the round of the bounce of the good time window.
The south fund YangDeLong (micro Po), says that The whole, China 's economy is in rapid decline stage is over, economic growth began to sole, but growth rebound is still difficult to see that The fourth quarter growth remain at

Fund control plate 48 stocks around the third quarter information technology enterprise

Every reporter li na by
Just the disclosure of the fund three quarterly report shows that in the past to the third quarter, the public offering fund although still keen to drink to take medicine, but before the difference is that the third quarter fund to information technology, petroleum chemical industry and electronics plate taken significant increasing action. Donghua software (16.35, 0.21, 1.27%), Shanghai chemical (50.19, 0.11, 0.22%), the hundred pharmaceutical (19.98, 0.00, 0.00%), and a number of listed companies have got the favour of fund.
Straight flush (13.730, 0.39, 2.76%) data show that by the end of the third quarter, public offering the fund heavy warehouse the number of listed companies reached 832 only, the second quarter of 823 stocks held only haven 't changed much. And fund control plate (fund shares of the stock proportion of the total outstanding shares more than 20%) of stocks over the same period the number from 44 only up to 48 only.
Fund "excavation" technology stocks
At the end of the second quarter fund abandon cycle stock to defense, judge stable growth of food and pharmaceutical shares is fund in the secondary market to buy sharply. And long silence of the real estate shares and earnings growth relatively certain stocks, all be fund be included in the investment list.
The third quarter, The Shanghai and shenzhen stock market continued The downturn, The Shanghai index fell below 2000 points. Although recently The macro data in some people seem to have The see bottom signs and but in The eyes of people more institutions, The economy stabilises obviously still need more evidence.
In such background, the fund disclosed three quarterly report shows that funds are not giving up configuration pharmaceutical shares. Good day of statistical data display, the fund In the third quarter mainly around the medical biological industry, increasing rate of 1.37%, By