Core Viewpoint - Huatai Baoxing Fund Company exhibits a common issue among insurance-related public funds, being more proficient in fixed income business while relying heavily on it, resulting in weaker equity business and difficulties in expansion [1][2] Group 1: Company Overview - Huatai Baoxing Fund was established on July 26, 2016, initiated and controlled by Huatai Insurance Group, with its registered location in Shanghai [3] - As of October 25 last year, the China Securities Regulatory Commission approved Ande Co., Ltd. as the actual controller of Huatai Baoxing Fund, marking its transition to a foreign-funded public fund company [3] Group 2: Fund Performance and Structure - As of the end of Q3 this year, Huatai Baoxing Fund managed a total of 34 products with a combined management scale of 67.707 billion yuan, ranking 76th among peers [1] - The company’s management scale remained below 40 billion yuan until mid-2024, but reached 46.7 billion yuan by the end of Q3 2024, and surpassed 50 billion yuan by the end of 2024, reaching 51.9 billion yuan [1] - Fixed income products dominate the product structure, significantly contributing to the company's recent scale growth, with bond fund sizes increasing from below 30 billion yuan until mid-2024 to 57.446 billion yuan by mid-2024 [1] Group 3: Equity Business Challenges - The equity business of Huatai Baoxing Fund has been weak, with the number of stock funds remaining at one until 2025, and its scale shrinking from 475 million yuan at the end of 2021 to 91 million yuan [2] - The recent establishment of two new equity funds in May 2024 has led to a significant increase in stock fund scale, approaching 400 million yuan [2] - The performance of equity funds has been poor, with the Huatai Baoxing Health Consumption A fund showing negative returns over various time frames, underperforming its benchmark by at least 25 percentage points since its inception [2]
依赖固收业务 权益业务薄弱 华泰保兴基金“偏科”陷困局
Shen Zhen Shang Bao·2025-10-11 05:41