Last week, we introduced a "grassroots" investment advisor - Growth Five Swords. Friends from the fan group reported that this combination idea is very good: are also the manager of a big V, will hiking be stronger than Growth Five Swords?

Last week we introduced to you an investment advisor who was born in "grassroots" - Five Swords of Growth. The fans' friends of the fan group reported that this combination idea is very good:

Today I will introduce to you an fund investment advisor who is born in "personal" - Hiking .

Hiking was originally a fund portfolio created by the fund big V "Kin Lemon", and later upgraded to a fund investment advisor on the Qiyan Fund platform.

is also the manager of a big V. Will hiking be stronger than the growth Five Swords?

Is this fund investment advisor worth buying?

Let me take you to analyze the hike!

Fund Investment Advisory Overview

Hiking was established in July 2017. The initial performance benchmark was Shanghai and Shenzhen 300 Index . On July 19 this year, the performance benchmark of this investment advisor was changed to CSI 800 Index .

If the original goal of hiking was to beat market , then the investment advisor's goal now also includes small and medium markets.

Hiking positioning is as its name suggests. investment consultant tends to balance configuration, low turnover , and choose less timing, and play long-term holding.

It is precisely because the hiking holds in a relatively balanced style, so the offensiveness of this investment consultant is not as good as the growth five swords I have introduced before, but the stability of hiking is relatively stronger.

So what is the historical performance of hiking?

Far a long-term short-term, let’s take a look!

Investment Advisory Revenue Characteristics

Revenue Display

Hiking has been established for more than 5 years, and has accumulated a total of 104.84%. At the same time, CSI 800 was basically in place and outperformed by hiking more than 25 times. This wave is really crushed.

Since the second half of 2019, the performance growth rate of hiking has increased significantly, gradually widening the distance from CSI 800.

After the Spring Festival in 2021, hiking and CSI 800 fell together. After that, CSI 800 fell all the way, but hiking quickly rose against the trend and continued to hit new highs in return. The main reason why

widened the gap was that investors Lemon avoided the more bubbled track at that time, stabilizing the fluctuations of hiking. also discovered Yang Jinjin, the top ten fund manager of the year, and made a lot of excess returns.

This year, the A-share market has not been very good. Hiking and CSI 800 fluctuated and fell, but hiking only fell 10.69%, almost half of the decline than CSI 800!

Let’s take a look at the specific performance of hiking in different specific periods:

Bull and bear cycle comparison

Here we use hiking to compare with CSI 800 and equity-oriented funds:

5 games 3 wins!

Hiking lost two opponents when it was first established. Later, in the structural bull market that started in 2019, it lost again to the equity-oriented fund index , but it greatly defeated the CSI 800 Index.

It can be found that in a bear market, hiking will perform better. In other words, this fund investment advisor has relatively stronger defensive ability.

Let’s learn about the holdings of this investment advisor and see which funds it has bought!

Position & Position Adjustment Analysis

Position Adjustment Analysis

Hiking carried out a regular portfolio adjustment once every six months on August 1 this year:

This time, the position adjustment mainly did two things: The first is to rebalance the investment advisory style, and the second is to buy the money base to deduct the investment advisory fee.

However, although it is a style rebalancing, after penetration, it is found that the growth style of hiking after adjusting positions is even higher:

Hiking This time, 2 new funds were added and eliminated, which are worth talking about:

New Bank of China Theme Strategy C is managed by fund manager Huang Jun. Her stock selection style is growing, and it focuses on cost-effectiveness. Like hiking, this fund is also a long-term return.

Another new fund is TEDA Manulife Selected C. Fund manager Meng Jie invests in small and medium-sized growth stocks. He will do the industry and stocks .

Buying these two funds should increase the overall growth stock share of hiking. Both choose C-type to reduce investment costs.

Hiking This time, the position was adjusted and sold Xu Cheng's Guofu valuation advantage . This fund has a heavy position in Hong Kong stock . Therefore, due to the drag of the Hong Kong stock market, the performance was not good. This time it was sold, it should be that the performance was not as good as expected.

, and the other one sold is Xingquan Multidimensional Value A managed by Yang Shijin. Although the name contains the word value, the holding style of this fund is balanced growth. Being sold should be a balanced strategy and not suitable for hiking the future investment strategy . However, investors Lemon himself admitted that this fund can actually continue to hold, and it was a bit unexpected to be sold. The returns of the four funds after the adjustment of positions are as follows:

is a bit embarrassing. The newly added Bank of China theme strategy C performed poorly after the adjustment of positions, while the already sold Xingquan Duowei Value A almost rebounded and recovered the decline during this period, which also verified the view that investors Lemon said that Xingquan Duowei Value A can continue to hold.

So how is the overall effect of hiking this time?

3 position adjustment effect analysis

As of December 5, the performance after hiking positions was slightly underperformed without position adjustment.

Before November, the performance after hiking was adjusted was relatively better, but since the rebound in November, if hiking did not adjust its positions, the rebound in performance would be better.

In the short term, the adjustment effect of hiking on August 1st is not very good.

In general, the position adjustment style of hiking on August 1 was relatively more radical, but the effect of position adjustment has not yet been reflected in the short term.

It is worth mentioning that the current hiking manager team does not actually include the lemon of the investors! Could it be that the hiking is getting worse and worse because the lemon is not in mind?

Let’s learn about the relationship between Kimm Lemon and hiking now!

Understanding the manager

Fund Lemon is a fund-type self-media big V, and has won the honors of Sina Finance's most valuable fund big V in 2021, Snowball 2018 Influential self-media.

In 2017, Kimmel Lemon created a hike on the Kuaishou platform. In January 2022, this combination was upgraded to a fund investment consultant, and Kimmel Lemon no longer manages hiking.

And the current lemon has not been added yet, so some old fans are probably going to be sad.

However, the performance of hiking this year has been pretty good. In terms of 's position adjustment, it has basically continued the value of investors' lemon and the growth balance strategy , which can make holders feel at ease.

By the way, investors Lemon and Guolian Securities jointly issued a new investment advisory product "Yuehai" in July this year. The holding style of this investment advisor is very similar to hiking, and it is also a fund with balanced allocation value and growth style, but the holding funds are basically different.

Overseas Retracement Control is better than hiking . The largest retracement since the establishment of the Overseas Retracement is -7.76%, while the maximum retracement of hiking during this period reached -10.17%.

Although there is no sufficient information to prove that as the manager, the investment consultant must have performed better, the authentic hike is obviously more attractive.

The good news is that Kim Jong-Lemon may also join, and it depends on the negotiation situation with the platform. You can look forward to it!

Summary

Hiking, from portfolio to investment advisor, has been operating for more than 5 years, and has accumulated a total increase of 104.84%, crushing the performance benchmark CSI 800 Index.

The investment advisor adopts a balanced style and a long-term return.

In the words of the founder of hiking, Kim Lemon, "The most suitable hiking is investors who have a certain foundation, but lack the time and energy to do their own research and choose funds."

According to the past performance of hiking, the holding experience of this investment advisor is not bad. Friends who are willing to "exchange time for space" can consider hiking.

Finally, I remind everyone again . Currently, investors Lemon no longer provide investment strategies for hiking, so there is a possibility of changing strategies in the future hiking!

Finally, I would like to emphasize to you:

Money base only conducts fund evaluation, which does not constitute a buying recommendation . Investment is a decision that can only make after serious and thoughtful . Everyone should consider comprehensively based on their target returns and risk tolerance.

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