Core Insights - The A-share market has seen the Shanghai Composite Index reach a ten-year high, leading to high expectations for equity funds to capture economic growth dividends [1] - However, data from Wind indicates that over the past decade, 154 funds have recorded negative returns, with 91 of these being equity products, highlighting a stark contrast with the overall market performance [1] Fund Performance Summary - The top-performing fund with the worst ten-year return is Tianzhi New Consumption (350008), which has a return of -55.20% [3] - Other notable funds with significant negative returns include: - Taiping Flexible Allocation (000986) at -54.05% - Morgan Consumption Pioneer (233008) at -50.02% - Minsheng Jiayin Selected (690003) at -48.45% [2] - The Tianzhi New Consumption fund has shown high volatility, with significant losses in multiple years, including a drop of 37.93% in 2022 and 31.28% in 2024 [5][6] Fund Management and Strategy - The Tianzhi New Consumption fund, managed by Liang Li, has seen its total return since inception remain at -11.78%, with its scale shrinking from 5.25 billion yuan to 0.19 billion yuan, raising concerns about its viability [6] - The fund's current strategy focuses heavily on the pharmaceutical sector, with top holdings in companies like Heng Rui Pharmaceutical and WuXi AppTec, which may lead to substantial fluctuations in net value during industry adjustments [6][7] - Liang Li has indicated a commitment to focusing on new consumption sectors and managing market risks, but the challenge remains in balancing risk control with achieving positive returns [9]
十年未回本“消费基”:天治新消费近十年跌55%居首,基金经理梁莉任期回报负56.71%
Xin Lang Ji Jin·2025-08-20 09:11