高位成立难解套 平安均衡优选1年成立4年半亏损4成

Core Insights - The article discusses the performance of actively managed equity funds established in 2021, revealing that over 50% of these funds have not returned to their initial investment levels, with significant losses reported [1] Fund Performance - A total of 667 actively managed equity funds established in 2021 were analyzed, with approximately 362 funds showing negative returns since inception, representing over 54% of the sample [1] - Among these, 86 funds experienced declines of over 30%, and 34 funds had drawdowns exceeding 40% [1] Specific Fund Analysis - The Ping An Balanced Preferred 1-Year Holding Mixed Fund A, established on September 24, 2021, reported a cumulative return of -41.17% as of February 10, 2026, with a unit net value of 0.5883 [2] - The corresponding Fund C version reported a cumulative return of -43.20% with a unit net value of 0.5680 [2] - Despite a strong performance in the A-share market in 2025, the fund's A/C shares still declined by 1.71% and 2.50%, significantly underperforming the average return of 33.12% for similar products [2] Fund Management Changes - The fund was initially managed by Li Huasong, who oversaw it for over two years, during which it recorded a return of -49.34% [4] - The current manager, Fang Junping, took over in late 2025, but the fund's performance has not improved significantly since the management change [4][6] Historical Performance Comparison - The fund's annual performance from 2022 to 2025 shows a consistent underperformance compared to its peers and the CSI 300 index, with returns of -22.77%, -26.20%, -1.71%, and -2.50% respectively for the years 2022 to 2025 [5][6] - The fund's ranking among peers has also declined, indicating a persistent struggle to achieve competitive returns [5][6] Current Holdings - As of the fourth quarter of 2025, the top ten holdings of the fund included companies such as Longping High-Tech, Zhengfan Technology, and China Railway Construction, reflecting a diversified investment strategy [7]