In the November 29 sale of bank funds were crowding together, the Fund had issued the phenomenon of differentiation. Ended December 3 issue of the "new theme Castrol power" to raise 6.3 billion; and silver Ansheng Ji Jin Pu in November 26 announced the extension of "Pu Silver AXA enhanced 300 index fund" raising of the initial set in the Nov. 30 end of the delay of the final product raised to 8 December.
"Uneven quality!" The end of the year 2010 the sales situation, but also an interview a number of fund company executives responsible for sales to determine the market in 2011, while savings can appropriate "move" to be their greatest expectations , but their expectations are likely to fall through.
"Saving move" expansion of the size under
Fund the expansion of the scale can not do without "saving move" support.
Historically, the truly sustainable "savings move" only twice: the first from 1999 to 2000, central bank data show that in July 1999, October and November savings of negative growth, increase the amount of savings last year than in 1998 young 900 million; May 2000, July and October for the negative growth of bank savings, the annual reduction of 1,500 million.
Another one occurred in 2006, 2007. 2007, April, May, July to October in the six months, household deposits have been negative growth, of which 10 single month bank savings to reduce 500 billion yuan, the year is a staggering 958.9 billion yuan.
The second move of the direct beneficiaries of the savings fund for the public offering. Wind data show that the end of 2007, 58 funds managed by fund net asset value (excluding QDII funds) amounted to 3.2 trillion yuan.
However, for risk-averse regulators to suspend the release of new products, the market lacks follow-up of the "bullet", and ultimately led to the fund is stuck buying high.
Galaxy Securities Funds Research Center, according to a report in 2007, through funds of funds into the stock market of 1 trillion yuan, and these investors because the market slump and heavy losses.
Since then, every rebound City, fund investors will be net redemptions. Even in 2009, the new Development Fund for more than 400 billion yuan, but the Fund's total share is still less 114 600 000 000 copies.
Liangyu, General Manager, China Southern Fund which he laments investors in micro-blog "redemption based hurry." He said, "Yesterday (December 13) the stock market, funds are now net redemptions, this phenomenon is repeated in history, investor education work that we are still not doing enough."
In addition, in 2009 July, August and October there was negative growth in savings deposits. Accordingly, in July to raise funds up to the CSI 300 China 24.7 billion yuan, and appeared in the August issue of the small fund climax, but after the market fell for this trend be curbed.
In October 2010, savings deposits, the phenomenon of moving again, the month household deposits declined by 700.3 billion yuan, a record high, but the relatively small number of fund distribution, and in November to raise 61 billion yuan hit a new high this year.
When the "optimistic scenario" encounter "helpless facts"
November Fund, was issued to fund company executives optimism optimistic.
Shanghai-based general manager of a fund company has been working within the conference that 2011 will be the asset management industry, the golden period of development, on the grounds that the quantitative easing policy and the U.S. domestic market, abundant liquidity. According to report, the fund company and a minority who hold this view.
In fact, his views are supported by the central bank data. December 14, according to central bank announced the news of the fourth quarter of 2010, by the People's Bank of China in the 50 cities and twenty thousand urban depositors survey showed: 45.2% of urban residents tend to "invest more (such as purchase bonds, stocks, funds, etc.) ", 37.6% of the tend to" save more ", 17.2% prefer" to spend more. "
Among the major investment, the "real estate investment" to the relatively high value of 26.1% continues to be the first choice for residents to invest in, followed by the "fund financial products," 20.4% "equity" 14.8%, were increased sequentially .
From this point of view, more than 300 classified according to Morningstar stock funds, more than 100 actively managed funds received positive returns over the same period the Shanghai index fell close to 10%.
Guoxin Securities Research Institute, a report by fund size over the past 5 years, household savings, GDP and the share of the market value of A regression and analysis is expected in 2014, raised funds in the size of 5.5 trillion yuan in value to between 7.1 trillion yuan, an average annual compound growth of up to 20%.
However, the forecast and the fact is two different things, especially into November, some fund executives are not so optimistic.
Recently, the Fund issued and the phenomenon is difficult, the better performance of the Fund issued Harvest "Harvest Theme new impetus" to raise 63 billion, but the strength of the shoulder to shoulder with the size of the fund company has issued 20 billion less, or even amount of fund raising again the case of single digits.
"Faster expansion in the fund product case, congestion in the bank channel funds will be more difficult to sell." Headquartered in Beijing, a fund company executives responsible for sales, told reporters.
Furthermore, market trends can support next year's blowout fund-raising is also a problem.
"The money must be more obvious effect for the job until the next big market, otherwise people are still willing to put money in the bank to get the meager interest, but the fundamentals seem not so good." The fund company executives said.
Where is the power of reliance?
The banks do not fund sales force also made to the fund rather helpless.
Fund is the most popular investment bank. According to informed sources, the bank's funds this year, more than 300 billion yuan sales agency, fund sales is expected to become the largest commercial bank.
Strategy adopted by China Merchants Bank unusual: first, the deposits of assessment indicators, but by increase in consolidated assets of clients; the second is the customer base is relatively high, stable cash flows.
According to Shenzhen, a fund's investment director, said public offering issued more willing to look for China Merchants Bank account sales of fund, the bank more than 20 million yuan in cash assets of over 12,000 customers, total assets reached 240 billion, which is the Fund relied on the group.
According to Shenzhen, a long-term deal with the banks said the fund analysts in many banks, only the first in China Merchants Bank FOF fund product development and the formation of the team, sales of the Fund's most professional and understanding, while the other line is still This does not have the staffing.
This has resulted in sales of other bank customers short-sighted behavior of fund managers, fund sales volume since 2009 has not significantly increased. "Now the manager of the bank's customer in many cases is to allow customers to redeem the old fund, the subscription of new funds." The Beijing-based fund company executives said.
Therefore, the fund industry had a higher redemption rate. According to industry sources, in order to raise smaller QDII fund, for example, the two fund companies in the south of the QDII products in the open after the redemption was only 100 million yuan, respectively, and 7000 million in size, raising the amount of its initial are more than 5 million yuan.
Research Center, Shanghai Securities Fund data provided for the publication, U.S. households purchased funds, 47% is through a professional investment adviser, 33% by fund companies, fund supermarkets, discount houses, and professional investment adviser, is the use of Fund 11% companies, fund supermarkets and discounters, while 9% came from other sources. And professional investment advisers include full-service brokers, individual financial planners, banks and depository institutions on behalf of customers, insurance agents and so on.
In 2007, for example, more than 65% of the Fund through brokers and sales professional investment advisers.
But this country does not have the condition. Although many brokers sell funds and serves as an advisory role, but really want to efforts in this direction are few, some brokers and fund companies rely Institute of Product Development will be able to get good returns as investment adviser for the down-hearted.