Markets· Fund

ABC-CA CSI Xinhua National Brand Engineering Index Fund opens for subscription today

minutes 2021/09/01 08:07:11

Sep 01, 2021 (China Knowledge) - ABC-CA CSI Xinhua National Brand Engineering Index Fund (012394) is launched today for subscription. The fund is a passive equity index fund managed by ABC-CA Fund Management Co., Ltd. This fund builds a portfolio by buying all/part of the index to track the performance of the selected index.

Our records show the company is currently managing 65 funds with aggregate AUM of RMB 256.35 bln.

The investment manager Song Yongan has over 9 years of experience. He has previously developed expertise in mitigating various risks, optimizing fund performance, and has a master's degree. Currently there are 4 funds under his management, totaled RMB 809 mln asset under management (AUM).

Song seeks to invest the fund mostly in the manufacturing, finance and information transmission, software & information technology services industry. The top 5 holdings in his current portfolio are Kweichow Moutai Co.,Ltd. (600519), Ping An Insurance (Group) Company of China, Ltd. (601318), China Merchants Bank Co., Ltd. (600036), Wuliangye Yibin Co.,Ltd (000858) and Midea Group Co.,Ltd. (000333), among which the best performing security fell 12.47% over the past 3 months.

ABC-CA CSI 300 Index Equity Fund (660008) which he manages, since 3 Aug 2012, performed the best recording 9.98% in terms of annualized return, exceeded its peers’ average return. Over the past 6 months, it has realized a total loss of negative 8.99%.

His other 3 funds are ABC-CA CSI 300 Index Equity Fund (005152), ABC-CA Large Cap Hybrid Fund (660006), ABC-CA CSI 500 Index Equity Fund (660011) offer annualized performance from 7% to 9%.

China Knowledge tracks and monitors fund managers’ all historical performance to assess one’s resiliency when handling market volatilities. In this respect Song is given a 'C’ rating. This rating means the returns on managed funds are line with the average of similar funds or correspond with market benchmarks. His risk control may need improvement. On resiliency against market volatilities he may expose to higher risk, and may underperform.  The highest rating for a fund manager is an 'A+’ to subsequent lower order of 'A', 'B', 'C' and the lowest is 'D'.

The subscription for this new fund will close on Sep 22.

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