Core Viewpoint - Ruiyuan Fund's equity product scale has been declining for nine consecutive quarters, with a total of 29.199 billion units as of the end of Q2 2025, reflecting a decrease of 5.20 million units or 1.75% from the previous quarter [1] Group 1: Fund Performance - The decline in fund size is primarily attributed to poor performance, with Ruiyuan Growth Value's three-year return at -18.07%, underperforming its benchmark by 26.7 percentage points [2] - However, Ruiyuan Growth Value has shown improvement in 2025, with a year-to-date return of 15.56%, outperforming its benchmark by 10.15 percentage points [2] - Other funds like Ruiyuan Balanced Value and Ruiyuan Steady Allocation have slightly better performance, with three-year returns of 1.95% and 15.09%, respectively [2] - Ruiyuan Steady Allocation has also seen a continuous decline in size for seven consecutive quarters, with its size dropping from 108.29 billion units to 45.85 billion units [2] Group 2: Fund Manager Ownership - The current fund managers of Ruiyuan's products hold equity in the fund, with Fu Pengbo holding 12% and Zhao Feng holding 4.99% [3] - Other fund managers, except Zhang Jialu, also have stakes in Ruiyuan Fund, which may influence their compensation structure [5] Group 3: Market Comparison - In contrast to Ruiyuan Fund, Yongying Fund has achieved positive growth in its active equity business for at least two consecutive quarters, with a scale of 46.861 billion units as of Q2, reflecting a 5.60% increase [6] - The overall market for active equity public funds has shown signs of recovery, with a total scale of 3.74 trillion units at the end of Q1, increasing by 566 billion units [6] Group 4: Product Development - Ruiyuan Fund is working on improving its product layout, having received approval for its QDII qualification and a $5 million investment quota [7] - However, there have been no recent developments regarding index products, particularly ETFs [7]
睿远基金二季报:权益规模连续9季缩水
Sou Hu Cai Jing·2025-07-17 08:28