Zhang Kun, Zhu Shaoxing, Gü len, etc. What does the "national" fund manager look like?

Excellent fund managers can be called "national treasures". So, what are the * * * characteristics of outstanding fund managers Zhang Kun, Zhu Shaoxing, Gu Lan and Xie Zhiyu who are all very popular at present? See if it can help us to select excellent funds more scientifically.

The length of work experience is the primary criterion to test whether a fund manager is excellent or not.

That is, how many years has he been a fund manager? Of course, the longer the time, the better, at least 6 years, preferably 8 years.

This is mainly due to the 6 -7 year cycle of China stock market, from the last bull market of 20 14 -20 15 to the present 6-7 years. Furthermore, from 2006 to 2007, it has been 14. Without a complete bull-bear cycle, it is unscientific to judge the Excellence of a fund manager only by short-term performance.

Of course, this does not mean that fund managers with less than 6 years of experience are not excellent. The main reason is that if the fund manager has more than 6 years of work experience and crosses the bull-bear cycle, then his performance "gold content" is very high.

From this perspective, Zhu Shaoxing is the most qualified fund manager. He has worked in a rich country for 15 years, and now he has no intention of breaking up. There are signs of "growing old together".

In addition, both Zhang Kun and Xie Zhiyu have worked for more than 8 years.

The medical goddess Gulen is currently working in the China-Europe Fund for 5.9 years, which is close to this standard.

There is no doubt that the purpose of all investment is for performance, which is a well-deserved primary standard. But when we evaluate the performance of fund managers, we must not look at short-term performance, but at long-term performance, at least at their investment performance of more than 6 years.

From the performance standard, it is best to choose a fund manager with an average annualized rate of 15%. In fact, the annualized performance of many excellent fund managers is as high as 20% or even higher. In particular, even Buffett was amazed at the high performance that lasted for 10 years.

Up to now, we have selected 65,438+00 outstanding fund managers, whose working years and achievements are as follows:

1, Zhu Shaoxing, rich country, doing business 15.6 years. So far, only one fund has been managed, and it is necessary for Guo Fu Tianhui to grow and mix, with the income of 2 16 1%.

2. Dong's fund has worked for 14 years, and the best fund return during his tenure is 8 years, 360. 14%.

3. Jingshun Great Wall was employed in Liu Yanchun 12. 1 year. Jingshun Great Wall has been growing and growing for 6 years, with a return of 303%.

4. E Fund has worked in Zhang Kun for 8.7 years, and the income in 8 years is 800%. E Fund, the representative work of E Fund, was established in 13, with a net growth of 1027%, but Zhang Kun took over the management midway.

5. Xie Zhiyu, a Xing Zheng fund, has worked for more than 8 years, and prospered He Run1000% for 7 years.

6. Yi Fangda Xiao Nan, the best fund return during his tenure was 526.34% in 8 years.

7. Liu of Guangfa Fund served for 7 years, and the best fund return during his tenure was 280.33% for more than 2 years. It should be noted that Liu Gekun's previous performance in China Post Fund and other funds was average.

8. China-Europe Fund Glen has been in business for nearly 6 years, and China-Europe medical and health mix is 335%.

9. Yin Hua Fund Jiao Wei has been employed for nearly 6 years, and the best fund return during his tenure was 264.40% for 2 and a half years. But before that, he usually performed in Dacheng and Pingan.

10, Hui Tianfu Hu Xinwei worked for 5 years, and the best fund return during his tenure was 3 17.60%.

The above annualization is compound interest and rolling interest. For example,/kloc-0.5 years ago, I bought/kloc-0.0 million Zhu Shaoxing, and now it is 2 million, which is 20 times without leverage. This rate of return is higher than that of houses in first-tier cities.

Generally speaking, the performance of these excellent fund managers is against the sky. It is estimated that Buffett was also surprised after reading it. You know, this is the soil where the rapidly developing China capital market has such amazing performance.

The so-called retracement means that the fund suddenly turns around in the process of rising, and the turn-around range is not small. It is estimated that the citizens who entered the base city at the beginning of this year have fresh memories and are looking forward to continuing the market before the Spring Festival after the Spring Festival. However, contrary to expectations, the major star funds suddenly turned down, and the net value of the fund retreated by more than 20%. For a time, the citizens complained.

In fact, it is normal for the fund to retreat. How can there be a fund that only goes up and doesn't fall? Only two points must be noted:

First, excellent funds are not afraid to retreat, because excellent fund managers must have experienced market tests and will rise back sooner or later. Unfortunately, many A-share investors have turned fund investment into stock investment, chasing up and down. Redemption was made during the retracement. Now it seems that many excellent funds have returned to historical highs and even set new records.

Second, the scope of withdrawal is also one of the criteria for testing the Excellence of the fund. It's definitely better to retire as little as possible, and it's best not to retire, but that's unrealistic.

Looking back at the retreat of the national treasure fund manager, Zhu Shaoxing's biggest retreat was in 2008, with a retreat of nearly 60%; In the first half of 20 15, the withdrawal rate was about 45%; 38% withdrawal in 20 18 years; 202 1 At the beginning of the year, the retreat was less than 15%. Did you get a look at him? An excellent fund manager grows up slowly, and his retreat gradually narrows.

Looking at Zhang Kun again, 20 15 retreated by about 30%; 20 18, almost out of 30%; At the beginning of 202 1, the evacuation rate was less than 25%.

The core competitiveness of the fund is the fund manager, and the essence of buying a fund is to "vote" the fund manager with funds.

Ji Min gives you money management. Whether it is profit or loss, Ji Min has to pay a certain management fee. Unkind fund managers always focus on expanding the scale of management, such as issuing new funds at a high level and falling into huge losses as soon as they buy them. This is a typical unscrupulous fund.

On the contrary, fund managers with conscience always think of the people everywhere and "discourage" people from buying when the stock market is high. Of course, people's "dissuasion" is not shouted with big speakers, but through "purchase restriction".

Take Zhang Kun as an example.

At the beginning of 2020, the epidemic broke out and people were worried. Zhang Kun announced on February 2020 10, and its fund was relaxed from the original limit of100000 to100000. It takes courage to practice "You are greedy when others are afraid" with practical actions. Finally, the stock market basically rose all the way.

In September, when the market fluctuated sideways, Zhang Kun issued an announcement to reduce the fund purchase limit to 50,000 yuan. I'm going to make a risk warning.

Then, in 2020165438+1October 23rd, the purchase will be limited to 5,000 yuan. On February 28th, 65438, the purchase price was limited to 2000 yuan. 2021February 10, and the subscription limit is 1000 yuan. On February 24th, 20021year, the purchase was completely restricted.

In other fund managers, when the stock market is crazy, they are even crazier than the stock market. They are desperate to issue new funds and even "see the light of day".

At this point, excellent fund managers use practical actions to remind that "the stock market is risky and investment needs to be cautious".

Zhu Shaoxing and Xie Zhiyu also practiced their professional ethics and conscience with practical actions.

Excellent people must have excellent reasons. Among them, good style is a very important quality, which determines whether you can become an excellent manager.

Buffett, Peter Lynch and Soros, these famous investment masters, all have their own ways to succeed. Judging from the investment styles of fund managers in the above countries, there is more or less the logic of these masters.

Buffett seems to want to concentrate on investing. The best way to beat the market is not to hoard hundreds of stocks, but to wait patiently for the stocks that are most likely to bring excess returns. As Fisher said, it is wrong to put eggs in different baskets, because you can't look after all the eggs in each basket. Therefore, investors will risk investing too little in familiar companies and too much in unfamiliar companies. Zhang Kun is such a fund manager. Positions are very concentrated, such as heavy liquor leading stocks.

Buffett says compound interest is great. Mr. Market is moody and should be prepared to hold it for a long time. From this point of view, Zhang Kun and Zhu Shaoxing are the same, and they will not take the initiative to choose the timing, as long as the companies they recognize will firmly hold them and will not judge the stock market ups and downs too much.

Zhu Shaoxing, the fund manager most like Peter Lynch in China, has scattered positions and pays more attention to portfolio risk control.

As Guo Shuqing said, inflation came as scheduled. In addition, inflation may last longer than all experts predict. The most terrible thing is that once the world enters the interest rate hike cycle, the economy will face a serious and long-term "stagflation" situation. It is imperative for ordinary investors to allocate high-quality assets if they want to retain the middle class. Leading funds controlled by excellent national fund managers are undoubtedly the first choice for ordinary investors.