On January 4, Yinhua released Li Xiaoxing, manager of Yinhua, "A Year-end Letter to Investors". In the letter, Li Xiaoxing reviewed the market performance in 2023 in detail, and mentioned that in 2024, he will focus on three major directions in investment: technology, security and internal circulation. In addition, he also said that since the beginning of management, he has been holding his own management, and most of the assets are currently invested in his own **.
According to the statistics of the financial reporter of the global network, the 15 ** (class A and class C separately) currently managed by Li Xiaoxing will not achieve positive returns in 2023, of which the highest ** is Yinhua Xinxuan's one-year holding period mixed A, with an income of -27%。In a letter to investors, Li Xiaoxing said, "In the past two years, we have also suffered a lot of phased investment losses, and we can empathize with the emotions of the holders." ”
In fact, there are not a few managers like Li Xiaoxing who participate in the purchase of products under management. According to reports, previously, Hony Yuanfang ** Xu Zhicheng released his first real notes on the Ant Fortune platform, and purchased a total of 150,000 yuan from Hony Yuanfang Hong Kong Stock Connect Smart Selection Pilot Mixed C. And in addition to Xu Zhicheng, the ** managers who posted their own purchase notes in the financial community also include E Fund** Cheng Xi, Tianhong ** Guo Xiangbo, etc.
Further, the products under management held by the ** manager are consistent with the purpose of the company's self-purchased products, which are to boost market sentiment and play a positive role in enhancing investor confidence. And according to the financial reporter of the global network, in 2023, ** managers will frequently purchase millions of self-purchases.
For example, on June 12 last year, Quanguo announced that Zhao Yi, the manager of Quanguo Xuyuan, planned to contribute 1 million yuan to subscribe for the capital after the three-year holding period of Quanguo Xuyuan under its management, and the holding period was not less than three years. According to the data of Oriental Wealth Choice, since the resumption of subscription on June 13 to the end of last year, the net value of class A and class C was respectively94%。
Coincidentally, on May 30, 2023, Nanfang** announced that managers Wang Bo, Luo Shuai, Zhang Yanmin, and Li Jinwen respectively subscribed for their respective management**, with an amount of 1 million yuan, and the corresponding products are Southern Growth Pioneer Blend, Southern Industry Select One-Year Blend, Southern Alpha Blend, and Southern Excellence Preferred 3-month Holding Blend.
According to statistics, among the above-mentioned 4 **, since the subscription, Southern Excellence Preferred 3 months to hold mixed A only slightly **032%。In contrast, Southern Growth Pioneer Mixed A fell by 1662%。
And according to ** reports, in the first half of last year, top ** managers such as Ge Lan, Liu Gexiang, Zhou Weiwen, Hu Xinwei, and Zhou Haidong continued to increase their own management. Since the second half of 2022, the share of self-purchase by top managers** has shown a significant increase trend. Among them, Chen Hao of E Fund** will continuously increase his position in 6** managed by himself in the second half of 2022, with a self-purchased share of more than 3 million shares.
Further, the manager buys his own money to convey confidence through "real gold". However, judging from the foregoing, this has a limited impact on the long-term performance.
In this regard, Yu Fenghui, an economist and new finance expert, said that **manager self-purchase** has a good demonstration effect for investors and helps to increase investors' trust. In addition, when the market is volatile, the manager's self-purchase helps to stabilize the scale and reduce the redemption of investors due to market sentiment fluctuations, thereby reducing the operating costs. However, in his opinion, **manager self-purchase** may also pose a potential risk. If the market performance is not good, the manager may face losses if he buys himself, affecting his personal reputation and the company's brand image.
In conclusion, he pointed out that managers buy their own goods in the market whether the market is good or bad, mainly based on considerations such as confidence, responsibility, marketing and investment strategy. The impact of self-purchasing** has both positive and potential risks. Therefore, when choosing to buy and buy, investors should fully understand the investment philosophy and performance of the manager, and make investment decisions carefully.