Whether it is 3 years, 5 years or 7 years, the average yield of bond funds under fund companies with a management scale of between 10 billion and 100 billion is better than the other two groups
Researcher of " Investment Times " Qi Wenjian
Since this year, A-share market has been frequently adjusted, which has left investors with a deep impression of bond funds. Although bond funds often appear among investors, do you know which public fund company has achieved outstanding results in the bond investment field?
Based on the data of Galaxy Securities , Haitong Securities , Wind and other parties, the Punctuation Finance Research Institute recently conducted statistical research on the massive data of China's fund industry in the past 7, 5 and 3 years, and launched the "China Fund Industry Marathon Masters Club·2022". This is the seventh consecutive year that the Punctuation Finance Research Institute and the Investment Times have conducted an inventory of the fund's medium- and long-term performance.
statistics show that as of the end of 2021, the average yields of 3-year, 5-year and 7-year performance of 7-year yields under fund companies with a management scale of between 10 billion and 100 billion (including pure bond funds, bond-biased mixed funds, mixed bond secondary funds, mixed bond tier 1 funds, index bond funds, bond QDII funds ) performed the most brilliantly, with 20.28%, 29.15%, and 43.49%, respectively, which performed better than fund companies with a scale of over 100 billion and less than 10 billion (companies with less than 3 bond funds in each time period will not be included in the current ranking, and only the main code funds will be counted).
3-year period: The average yield of the two fund companies is less than 10%
From 2019 to 2021, the bond market has experienced different stages such as bear markets, bull markets, and volatile markets, which is a period that extremely tests the bond investment capabilities of fund companies.
As of the end of 2021, a total of 95 fund companies in the market can count the performance of their bond funds in the past three years, of which 41 companies have a three-year average yield of more than 20%, and 2 companies have a three-year average yield of less than 10%.
Specifically, the average yield of bond funds under Huabao Fund for three years is 41.25%, becoming the champion among 49 fund companies with a scale of over 100 billion yuan. The second is E Fund , with its 3-year average yield of bond funds. Among the top ten fund companies with a scale of over 100 billion, the top ten include Qianhai Kaiyuan Fund , Dongzheng Asset Management , Xingzheng Global Fund, Taikang Asset, Huaxia Fund, Caitong Asset Management , China Life Security Fund, and Southern Fund.
Researchers from the Investment Times found that among the teams with a scale of over 100 billion, there are 13 fund companies including Huatai-Prudential Fund , Galaxy Fund, and Zhongrong Fund, and other bond funds with a three-year average yield of less than 15%. Among fund companies with a management scale of between 10 billion and 100 billion, as of the end of 2021, the three-year average yield of bond funds under Huashang Fund was 49.08%, ranking first in this category, and it is also the top among the 95 comparable fund companies in the industry.
In addition, Shenwan Lingxin Fund and Guohai Franklin Fund's bond funds have both exceeded 30% in the past three years, 40.25% and 35.31%, respectively, ranking second and third; Cinda Aoya Fund and Guolian An Fund ranked fourth and fifth with yields of 29.2% and 29.04%.
Among the fund companies in this camp, there are two fund companies with a three-year average yield of bond funds under them less than 10%, namely CICC Fund and Furong Fund, with an average yield of 9.94% and 8.68% respectively. It is worth noting that these two fund companies are also representatives of the 95 companies' poor performance in three years.
Researchers from the Investment Times further analyzed and found that Furong Fund has 4 bond funds that can count the performance of 3 years. Among them, Furong Fuxing Pure Bond performed the best, with a yield of 17%, while Furong Fuqian A's 2 yield was -7.1%, underperforming the benchmark growth rate of the same period's performance by 19.46 percentage points.Among the fund companies with a management scale of less than 10 billion yuan, the average 3-year yield of bond funds under Tianzhi Fund is 28.1%, becoming the most outstanding fund company in this category. The one with the worst performance is PICC Asset, with an average rate of return of 10.5%.
According to statistics, as of the end of 2021, PICC Asset has 5 bond funds that can count the yields in the past three years. PICC Xinsheng Pure Bond A performed the worst, with a 3-year yield of 0.06%, and a benchmark growth rate of 3.41% during the same period.
5-year: The overall performance of the company with a scale of less than 10 billion is poor.
5-year performance also gathers the attention of many investors. In recent years, the " Black Swan Event " in the bond market has been common, bringing challenges to the investment and research capabilities and risk control of major fund companies.
As of the end of 2021, the average yield of bond funds under 45 fund companies with management scales exceeding 100 billion yuan was 27.92%, while the average yield of 29 fund companies with scales ranging from 10 billion to 100 billion yuan and 3 fund companies with scales below 10 billion yuan had an average yield of 29.15% and 24.55% in the past five years. It can be seen that the average yield of bond funds under fund companies with a scale of 10 billion to 100 billion is the most outstanding. Among the echelons with a management scale of over 100 billion yuan, Huabao Fund's bond funds have a 5-year average yield of 46.78%, ranking first among this type of companies. It is worth noting that Huabao Fund also ranks first in the three-year "100 billion club".
Qianhai Kaiyuan Fund and Nuoan Fund followed closely, with yields of 43.84% and 43.59% respectively, with a gap of less than 1 percentage point between them. There are also bond funds under E Fund, Dongsheng Asset Management, and Xingzheng Global Fund, which have an average yield of more than 40% in the past five years.
In comparison, the 5-year yield of 44 bond funds under Puyin Ansheng Fund, Cathay Fund, Shangtou Morgan Fund and Haifutong Fund 4 are less than 20%.
Among fund companies with a management scale of between 10 billion and 100 billion, as of the end of 2021, the average yield of bond funds under Guohai Franklin Fund performed the best in the past five years, at 50.71%, and also ranked first among 77 fund companies that can count the five-year performance of its bond funds.
Shenwan Lingxin Fund ranks second in this scale range with a yield of 48.93%. Western Lide Fund , Everbright Prudential Fund , and Golden Eagle Fund are ranked third to fifth.
Compared with fund companies with the highest performance, the 5-year bond funds under Baoying Fund , Xinyuan Fund , and Chuangjin Hexin Fund still have a lot of room for improvement, with yields of only 19.7%, 19.04%, and 17.42%, respectively.
fund companies with a management scale of less than 10 billion yuan, only Tianzhi Fund, Beixin Ruifeng Fund, and Jiangxin Fund 3 companies can count the 5-year average yield of their bond funds, which are 28.52%, 24.02%, and 21.12%, respectively.
7 years: China Overseas Fund ranks last in performance
Over the past seven years, the bond market has also been ups and downs. Being able to obtain long-term and stable returns is a direct feedback on the investment capabilities of the fixed income team of the fund company.
Wind data shows that as of the end of 2021, the average yield of bond funds under CITIC Prudential Fund was 69.16% in the past seven years, ranking first among 34 fund companies with a scale of over 100 billion yuan. Nuoan Fund and E Fund ranked second and third with yields of 61.19% and 60.12% respectively.
also includes Huaxia Fund, Changxin Fund , and Tianhong Fund 3 companies' average yields exceed 50%, occupying the fourth to sixth place of the 100 billion fund company.
Researchers from the Investment Times noticed that among the fund companies with a scale of over 100 billion, only the 7-year average yield of bond funds under Puyin Ansheng Fund is less than 30%, which is 28.07%.
Among fund companies with a management scale of between 10 billion and 100 billion, Guohai Franklin Fund ranked first in this scale camp with a 7-year average rate of return of 83.05%. The company also ranked first in 45 comparable fund companies in the industry. This scene also took place in a 5-year period.
is followed by Everbright Prudential Fund, with an average yield of 61.18%. The third to fifth place are TEDA Manulife Fund , Morgan Stanley Huaxin Fund, and Huafu Fund .
Researchers from the Investment Times also noticed that among the 10 billion to 100 billion yuan, as of the end of 2021, the average yields of bond funds under Xinyuan Fund and Zhonghai Fund in the past seven years were less than 20%, 19.94% and 18.5% respectively. It is worth mentioning that China Overseas Fund ranks last among 45 fund companies.
data shows that as of the end of 2021, China Overseas Fund had four bond funds that could obtain 7-year results. Among them, China Overseas convertible bond A's 7-year yield was -22.23%, and the benchmark growth rate of performance in the same period was 13.33%.
1 billion to 10 billion yuan fund corporate bond funds with average yield of 3-year, 5-year and 7-year
Note: Data is as of the end of 2021. Data source: Wind
