China Fund News reporter Fang Li and Lu Huijing
As the fund industry ushered in a golden period of development, the size of the overall public offering fund has been rising steadily, and the overall fund company has also delivered a good business performance answer.
The 2021 interim report of listed companies has entered a period of intensive publication, gradually revealing the overall operation of public funds in the first half of 2021. According to incomplete statistics, the operating conditions of 56 fund companies in the first half of the year have been exposed. According to the disclosed data, this may be the most profitable "first half year" for fund companies in the history of the fund industry.
Specifically, benefiting from the historical development of the fund industry in 2019, 2020, and the first half of 2021, the fund industry has generally achieved profit growth, especially many established large fund companies have made substantial profits in the first half of the year. Data shows that the current net profit of 8 companies in the first half of the year exceeded 1 billion yuan, E Fund , Huitian Fu net profit in the first half of 2021 reached 1.841 billion yuan and 1.57 billion yuan, showing strong earning power. In addition, 8 fund companies doubled their net profits in the first half of the year.
At the same time, the profitability of large fund companies remains strong, with net profit margins mostly above 25%. At present, the 8 fund companies with net profits exceeding 1 billion in the first half of the year are basically the first-tier fund companies, with an average net profit of more than 1.35 billion yuan. However, it has been exposed that the average net profit of 56 fund companies in the first half of the year was only 350 million yuan, which fully shows the current situation. The profitability of the fund industry has been highly concentrated in the leader.
E Fund Management scale of nearly 2.5 trillion
sit tight "revenue throne"
just became the first non-monetary management fund company with a scale of more than one trillion in the first half of the year.E Fund also handed over a beautiful revenue report.
According to the 2021 mid-year report data disclosed yesterday by E Fund’s equity shareholder- GF Securities , as of the end of June 2021, the total size of public funds managed by E Fund Funds has increased by RMB 1,598.64 billion from the end of 2020. %; after excluding money market funds, the total scale is 1.065.768 billion yuan, ranking first in the industry.
According to E Fund’s official website, as of June 30, 2021, E Fund’s total assets under management are nearly 2.5 trillion yuan, of which the company’s active equity management scale amounts to 648.5 billion yuan, the largest in the country. Public fund management company.
During the reporting period, E Fund achieved operating income of RMB 6.793 billion, net profit of RMB 7.573 billion, and net profit growth of RMB 7.553 billion, regardless of the year-on-year growth of RMB 6.793 billion. Profits are ranked first among fund companies that have released revenue data.
Not only is the development of various businesses balanced, E Fund has the largest fund managers in the field of active equity and bond investment.
Wind data show,As of the end of June 2021, E Fund’s Zhang Kun’s personal management scale exceeded 134.4 billion yuan, and his management of E Fund’s blue chip selection was close to 90 billion yuan at the end of the second quarter. In the field of active equity funds, E Fund’s Xiao Nan and Feng Bo At the end of the second quarter, the scale of management also exceeded 50 billion yuan. Another star fund manager, Zhang Qinghua, managed more than 170 billion yuan at the end of the second quarter, ranking first in the market for bond fund managers.
GF Securities' 2021 mid-year report also disclosed the revenue of its holding fund company GF Fund in the first half of the year. As of the end of June 2021, GF Fund Management's total public offering funds 1,065.080 billion yuan, an increase of 39.51% from the end of 2020; excluding money market funds, the total scale is 622.193 billion yuan, ranking third in the industry.
In the first half of this year, GF Fund's operating income was 4.475 billion yuan and net profit was 1.272 billion yuan, a year-on-year increase of 71.64% and 39.78% respectively.
8 companies such as China Universal and China Industrial Securities Global
, although the net profit doubled in the first half of the year _span _sp5 strong Fund companies that have seized the opportunity have doubled their net profit.Some large companies have realized "elephant dance".
Orient Securities semi-annual report unveiled the overall operating data of China Universal Fund for the first half of the year. According to the semi-annual report, as of June 30, 2021, China Universal Fund’s total assets were 11.553 billion yuan, and net assets were 7.899 billion yuan; in the first half of 2021, it realized operating income (main business income) of 4.607 billion yuan. The profit is 2.053 billion yuan and the net profit is 1.570 billion yuan. China Universal Fund’s net profit in the first half of 2020 was 650 million yuan, compared with a 140.8% increase in the first half of this year, demonstrating its strong earning power. The
announcement also showed that in the first half of 2021, China’s economy continued to recover on the basis of efficient epidemic prevention and control, capital market reforms accelerated, the two-way financial opening process continued to accelerate, and digital empowerment industry innovation and transformation became more prominent. Residents' demand for financial management continues to be released, and the asset management industry is at a new starting point for vigorous development and is facing huge development opportunities. As of the end of the reporting period, the total asset management scale of China Universal Asset Management exceeded RMB 1.2 trillion. Among them, the size of public offering funds exceeded RMB 950 billion, an increase of 14% from the beginning of the year; at the end of the second quarter, the average monthly size of non-monetary financial management mutual funds reached RMB 605.815 billion, ranking first in the industry.
Judging from the announcement, in the future, with the profound changes in the internal and external environment and the continued structural performance of the capital market, the development of the asset management industry will face greater opportunities and challenges. Among them, the top asset management institutions with outstanding investment management capabilities and leading comprehensive strength will have more advantages in industry competition. China Universal Fund will continue to implement the cultural construction requirements of "compliance, integrity, professionalism, and soundness" in the securities and fund industry, uphold all long-term business philosophy, insist on customer first, and continue to refine investment management, risk management, and customer service , The four core capabilities of product innovation,Consolidate the foundation, embrace change, and strive to build China's most recognized asset management brand.
The Industrial Securities Global Fund is also growing rapidly. The semi-annual report of Industrial Securities revealed this data. As of the end of June 2021, the total scale of China Industrial Securities' global asset management was 611.6 billion yuan, an increase of 15% from the beginning of the year, of which the size of public funds was 528 billion yuan, an increase of 16% from the beginning of the year. In terms of operating conditions, as of June 30, 2021, China Industrial Securities had total assets of 8.462 billion yuan and net assets of 4.905 billion yuan. The operating income in the first half of the year was 3.916 billion yuan, a big increase of 115.52% compared with the same period last year; net profit was 13.76 100 million yuan, a year-on-year increase of 127.81%.
Industrial Securities said that in the second half of the year, China Industrial Securities Global Fund will continue to focus on the starting point of "creating value for holders", continuously strengthen its comprehensive investment and research capabilities, and strive to maintain the industry's first-class investment management capabilities; Continue to improve marketing service capabilities and enhance customer comprehensive service capabilities; seize good opportunities for the development of fund investment advisory business to promote the smooth development of fund investment advisory business.
Zheshang Fund has grown rapidly. Zheshang Securities shows that Zheshang Securities holds a 25% stake in Zheshang Fund. On June 30, 2021, Zheshang Fund's total assets were RMB 281,839,100, and net assets were RMB 10,092,100. From January to June 2021, it realized operating income of RMB 102,580,800 and net profit of RMB 8,918,100. In the first half of 2020, the net profit of Zheshang Fund was only 183,500 yuan, a year-on-year increase of 4760%.
not only has Huitian Fuhe Industrial Securities Global Fund’s net profit doubled in the first half of the year,The net profit of Soochow Fund, Oriental Fund, Sealand Franklin, Chuangjin Hexin, and Invesco Great Wall Fund also achieved substantial year-on-year growth, with growth rates reaching 151.41% and 123.08%, respectively. 119.65%, 108.57%, 103.93%.
The operation of several funds in the first half of the year was exposed.
The semi-annual reports of listed companies that intensively disclosed the operation of a large number of fund companies in the first half of the year were gradually revealed.
The much-watched Southern Fund's operating conditions in the first half of the year were released. Huatai Securities's semi-annual report shows that as of June 30, 2021, China Southern Fund's total assets were 12.296 billion yuan and net assets were 7.948 billion yuan. During the reporting period, operating income was 3.461 billion yuan, a year-on-year increase of 61.73%, and net profit was 876 million yuan. Yuan, a year-on-year increase of 47.97%.
At the same time, the report also shows that as of the end of the reporting period, the total assets under management of China Southern Fund amounted to RMB 1,453.666 billion, of which the total number of funds under management for public offerings was 245, and the total assets under management was RMB 1,007.128 billion; management of non-public offerings The total asset scale is 446.538 billion yuan.
Huatai Securities' semi-annual report also revealed the operating conditions of Huatai Bai Rui in the first half of the year.As of the end of June 2021, Huatai Berry has total assets of 1.973 billion yuan and net assets of 1.308 billion yuan. In the first half of the year, it achieved operating income of 708 million yuan, a year-on-year increase of 52.8%, and net profit of 203 million yuan, a year-on-year increase of 59.99%.
China Merchants Securities holds a 49% stake in Bosera Fund . The semi-annual report of China Merchants Securities shows that in the first half of 2021, Boshi Fund firmly focused on, improved and strengthened its equity investment capabilities and pension business, accelerated digital technology empowerment, and achieved steady growth in scale and income.
As of the end of the reporting period, Boshi Fund’s asset management scale was 1,536.9 billion yuan (excluding subsidiaries’ management scale), of which public fund management scale was 895.3 billion yuan (excluding feeder fund ), an increase of 16.48 compared to the end of 2020. % And 25.64%. According to Wind data, as of the end of June 2021, Boshi Fund's non-monetary mutual funds ranked 9th in the industry, and bond mutual funds ranked 2nd in the industry.
data show that Boshi Fund’s operating income reached 2.753 billion yuan in the first half of the year, an increase of 48.84% year-on-year, and the net profit in the first half of the year was 805 million yuan, an increase of 61.06%.
In addition, the 2021 semi-annual report released by Haitong Securities shows that Wells Fargo Fund achieved operating income of 3.998 billion yuan in the first half of 2021, a year-on-year increase of 101.11%; net profit of 1.242 billion yuan.The year-on-year increase was 97.77%. Statistics show that, at present, the total asset management scale of the Wells Fargo Fund exceeds 1.2 trillion yuan.
The first half of the Hai Fortis Fund was also revealed. As of the end of the first half of the year, the scale of assets under management reached 348 billion yuan, of which public fund management was 129.5 billion yuan, an increase of 3.57% from the beginning of the year. The company's net profit in the first half of the year was 172 million yuan, a year-on-year increase of 24.64%.
or the most profitable "first half" in history In the first half of the year".
According to the revenue data of 56 fund companies that have been disclosed so far, the total net profit of 56 fund companies in the first half of 2021 is approaching 2 billion yuan, a year-on-year increase of nearly 50%, and the average net profit of 56 fund companies Reached 354 million yuan, an increase of 38.89% compared to the first half of last year.
structural bull market in the past two years Among the fund companies, Sino-European Fund and Invesco Great Wall Fund’s non-monetary scale both achieved a year-on-year growth of more than doubled. The non-monetary scale of E Fund’s funds also nearly doubled.The year-on-year growth rate of Qianhai Kaiyuan's scale has also more than doubled, and the above-mentioned fund companies are all fund companies with outstanding equity investments in the industry.
Driven by the growth in scale, the net profit of fund companies is also growing rapidly. In the first half of this year, there are as many as 8 fund companies with a net profit of over 1 billion. Among the above 8 fund companies, Huitianfu and Xingquanjun The net profit achieved a year-on-year increase of more than doubled, and these two fund companies are also fund companies with faster growth in the scale of 's equity assets.
Compared with other years in history, only the two fund companies whose net profit can exceed 1 billion in the first half of 2020 and Eda Fund will exceed 1 billion in 2019. In the first half of the year, the fund company whose net profit could exceed 1 billion has always been Celestica Fund. Even in the bull market period of 2015, the net profit of the most profitable fund company in the first half of the year-E Fund Fund did not exceed 700 million yuan mark.
Fund Industry Association The latest data on the scale of public funds just released shows that as of the end of July this year, the total net asset value of public funds under management in the industry reached 23.54 trillion yuan, a record high. The market has fluctuated repeatedly in the half year, and the growth momentum of the whole industry is still continuing, and the net profit of fund companies is still expected to break through the high point in the first half of the year.
However, in the historical development of public funds, the development of various fund companies has been uneven, and many fund companies have failed to grasp this opportunity.The growth rate of net profit is slow, and some fund companies are still at a loss.
According to industry insiders, as the industry develops more and more mature, the leading position of the industry becomes more and more stable. The " Matthew effect" becomes more and more obvious, and more and more outstanding talents are in the industry. Leading companies, these companies are also sought after by the market, while small fund companies are facing development difficulties, and it is becoming more and more difficult for corners to overtake.
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