Beixin Ruifeng fund's "typical" scale problem how to retain talents
April 26th, 2022

With the rapid development of the public fund industry, the ranking of public fund companies has also ushered in a reshuffle.

Under the bull market in the past three years, the scale of some fund companies has risen sharply, and some fund companies have lagged behind in the competition.

According to the latest data of the fund industry association, by the end of February this year, the total scale of public funds had reached 26.34 trillion yuan, reaching an all-time high.

Among the 26.34 trillion, there are not only giants that monopolize nearly 7% of the industry scale, but also small fund companies with a management scale of less than 10 billion.

Recently, the 21st Century Business Herald reporter learned of an open letter from Beixin Ruifeng fund employees, which revealed the current development difficulties faced by some small and medium-sized fund companies.

Beixin Ruifeng fund is a public fund of trust.

According to wind data, the management scale of Beixin Ruifeng fund at the end of 2021 was 7.81 billion yuan, ranking 120th among all 149 public fund managers.

In fact, in addition to the public funds of the banking department and the brokerage department, the public funds of the trust department are also a force that can not be ignored in the public offering industry. Among the fund companies established in the early stage of the industry, there are trust shareholders behind e fund, Harvest Fund and South Fund, which have become the leaders.

Behind the lack of scale

Beixin Ruifeng fund was established in March 2014. The company was jointly established by Beijing International Trust Co., Ltd. and Laizhou Ruihai Investment Co., Ltd., with their shareholding ratios of 60% and 40% respectively.

This year marks the eighth anniversary of the founding of Beixin Ruifeng fund.

At the end of 2018, the management scale of Beixin Ruifeng fund exceeded 10 billion for the first time. During the bull market from 2019 to 2021, the fund scale of Beixin Ruifeng fund reached 13.395 billion at the end of the first quarter of 2020, climbing to a high point, but then the scale began to decline.

Compared with the same trust fund company established in the same period, the development of Beixin Ruifeng fund has obviously lagged behind.

The 21st Century Business Herald reporter found that the trust fund companies established in the same year with Beixin Ruifeng include Jiahe fund and Yuanxin Yongfeng fund. According to wind data, the management scale of Jiahe fund and Yuanxin Yongfeng fund at the end of 2021 was 26.529 billion and 43.446 billion respectively, ranking 94th and 82nd respectively.

According to the management scale of non monetary funds, the gap is even greater.

According to wind data, the non monetary fund management scale of Beixin Ruifeng fund at the end of 2021 was 2.27 billion, ranking 135th. The non monetary fund management scale of Jiahe fund and Yuanxin Yongfeng fund in the same period was 19.625 billion and 36.85 billion.

The fund management scale of Jinxin fund established one year later was 7.795 billion at the end of 2021, which was almost the same as that of Beixin Ruifeng fund, while the non monetary fund management scale of Jinxin fund was 6.781 billion, which was much higher than that of Beixin Ruifeng fund.

In fact, from the beginning of 2019 to the end of 2021, the management scale of public funds has increased by 97%, which has almost doubled.

In the process of rapid development of the industry, Matthew effect is more prominent.

“Small fund companies face many problems. For example, in terms of channel access, many large channels directly exclude us. On the other hand, it is how to retain talents. The market in the past two years reflects the obvious superposition effect of star fund managers and star fund companies. Talents are also an important success or failure factor for small and medium-sized fund companies.” The general manager of a small public fund in Shanghai told reporters.

This is exactly the same as the channel construction difficulties described in the employee letter of Beixin Ruifeng fund.

However, in response to the 21st Century Business Herald reporter, the person concerned with Beixin Ruifeng Fund said, “the company has always paid attention to the maintenance of banking channels. It also has many years of cooperative relationship with CCB mentioned by the employee, and issued Beixin Ruifeng advantageous industry stock fund through CCB in 2021, which is not maintained for many years.”

The 21st Century Business Herald reporter noted that on March 17, Li Yongdong, chairman of Beixin Ruifeng fund, said in a message on the eighth anniversary of the company, “At present, the state has given the financial industry a new mission in the context of the new era - to give full play to the supporting role of Finance and help the high-quality development of the real economy. Beixin Ruifeng has always followed the guidance of national policies, focused on medicine and medical technology, new generation information technology, new energy under the dual carbon goal and other tracks, and strive to accurately grasp the route in the tide of the times.”

Performance feedback delay

As Li Yongdong, chairman of Beixin Ruifeng fund, mentioned these popular tracks, the equity funds related to these popular tracks are also popular pursued by investors in recent years.

However, the equity fund that has led the market development in the past two years has not brought more development assistance to Beixin Ruifeng fund.

With the market adjustment and the industry entering a cold period, the scale problem facing Beixin Ruifeng fund is becoming more and more urgent.

Wind data shows that at present, Beixin Ruifeng fund has 18 funds and 8 fund managers.

The 21st Century Business Herald reporter found that from 2019 to 2021, Beixin Ruifeng fund established a total of five funds. In addition to one short-term debt fund, the other four were active equity funds.

In terms of scale, except that the scale of Beixin Ruifeng’s advantageous industry established in September 2021 is still more than 100 million yuan by the end of 2021, the scale of the other three funds - Beixin Ruifeng preferred growth, Beixin Ruifeng Dingfeng and Beixin Ruifeng quantitative optimization are less than 100 million yuan. Beixin Ruifeng Dingfeng and Beixin Ruifeng quantitative optimization, established in 2019, are mini funds with a scale of less than 50 million.

Compared with the size of the fund, the performance of these funds is relatively good.

For example, Beixin Ruifeng quantitative optimization, established in September 2019, wind data show that the return of the fund in 2020 is 57.59%, ranking among the top 30% of similar funds, and the return in 2021 is 19.64%, ranking among the top 20% of similar funds.

However, the scale of Beixin Ruifeng quantitative optimization has shrunk to 58 million by the end of 2020 and further reduced to 24 million by the end of 2021.

“The company has been making efforts in the field of investment and research in recent years

Subscribe to Sarahh
Receive the latest updates directly to your inbox.
Verification
This entry has been permanently stored onchain and signed by its creator.
More from Sarahh

Skeleton

Skeleton

Skeleton