年内密集清盘 上百只拉响警报 发起式基金缘何长不大？

Core Insights - The article highlights the challenges faced by newly established initiated funds, with 41 funds being liquidated this year due to failing to meet the minimum scale requirement of 200 million yuan [1][3][4] - Many initiated funds were created to chase market trends but have since underperformed, leading to investor withdrawals and subsequent liquidation [1][3] - The article emphasizes the need for fund companies to adopt a long-term investment perspective rather than relying on short-term market hype for fund establishment [1][6][7] Fund Liquidation Statistics - As of June 22, 2023, 41 out of 131 funds that were liquidated this year were initiated funds, particularly in sectors like new energy and pharmaceuticals [1][3] - The recent liquidation of the Shangyin New Energy Industry Selected Mixed Fund, established in April 2022, saw its net value drop to 0.45 yuan by February 2024 [1][2] - The Baoying New Energy Industry Mixed Fund, launched in May 2022, experienced a decline in net value from 1.19 yuan to 0.42 yuan before its liquidation in May 2023 [2] Characteristics of Initiated Funds - Initiated funds are characterized by a low entry threshold but face strict exit criteria, requiring a minimum scale of 200 million yuan within three years [3][6] - A significant number of initiated funds established in the second half of 2022 are at risk of liquidation, with 106 out of 196 funds having scales below 200 million yuan as of the first quarter of 2023 [3][6] - The article notes that many initiated funds are struggling to grow, with some having scales as low as a few hundred thousand yuan [3][6] Industry Trends and Recommendations - Despite the challenges, initiated funds remain a key strategy for fund companies, with 146 initiated funds established this year out of a total of 619 funds [6] - Fund companies are advised to be more cautious and strategic in launching initiated funds, focusing on long-term performance rather than short-term market trends [6][7] - Successful initiated funds, such as the Yongying Advanced Manufacturing Smart Selection Mixed Fund and the China Europe Era Pioneer Stock Fund, have demonstrated that strong performance is crucial for growth [6]