Chapter 400: Second Quarter Performance Acceleration
It is still necessary to simply control the size of the fund by rotating positions and the order in which stocks are launched.
In Gu Junhao's trading philosophy, he always adheres to the trading principle: "Slow is fast, fast is fast."
To have the daily limit and appear on the Dragon and Tiger List gloriously is not what Gu Junhao pursues.
Gu Junhao’s favorite are those stocks that rise quietly. You don’t notice when you buy them, but when you look at the stock price after a month or a few months, it has risen to a good position. This is the best.
Such stocks are often not easy to attract the attention of the market and are the type that make a fortune in silence.
If a stock attracts too much market attention, it should be taken seriously unless it is a pure hot spot or a short-term hot stock. Excessive attention also brings corresponding risks.
This is just like the European Cup which is in full swing now, the favorites are doomed to fail; the European national football teams are popular every year, but they go home early every year.
After the end of today's trading, the overall scale of Junshi No. 2 exceeded 8.492 billion yuan, which is a significant increase compared to last month. The net value also exceeded 6, reaching 6.0789.
Since the ex-rights date in November last year, Junshi No. 2 has risen by 44.88% in 8 months. If it rises a few more points, the management fee will have to reach the maximum requirement of 4%.
In addition, if the profit reaches more than 50%, commissions can be charged. As Junshi No. 2 grows in size, the management fees and commissions will not be a small amount.
Compared with the original Junshi No. 1, it is really not the same thing; this is also one of the reasons why we decisively chose to liquidate Junshi No. 1.
Although it has increased more than 20 times, the overall scale of Junshi No. 1 is less than 1 billion yuan. It will take a lot of time to reach the current level of Junshi No. 2.
"It's still easier to survive in domestic funds. I just made a clause that there is no fee for losses, but I was targeted by my peers." Looking at the profits of Junshi No. 2, Gu Junhao couldn't help but sigh.
You have to know that the fund fee standards of the old stock god in the United States, which is far across the ocean, would be even more excessive if they were applied in China.
You should know that the fund charging standard of the old stock god is that all profits below 6% belong to the investors, and no fees are charged!
Looking at the investment circle around the world, it is quite explosive. If there is such a stock god in the country who can provide stable returns and reasonable fees, there is no need to worry about the prosperity of the fund industry.
It is somewhat unreasonable for a group of fund managers who only want to make money by reaping the benefits of their investment also blame investors for their greedy mentality and for not participating in fund investment.
However, some investors are somewhat shameless and some are still using this charging standard to attack Gu Junhao and Junshi Capital.
Excluding some of the internet trolls, the rest are more or less like leeks, worrying about the capitalists.
"The redemption channel is about to open again. I wonder how many people want to redeem this time." Wang Ruoyu was also very happy about the increase in net value this month.
Although the stocks held were still selected by the boss, I was fully responsible for the operations this month, including the reduction of holdings in Keheng shares, and the boss also let me decide.
"There shouldn't be many people redeeming this month. A group of people were screened out last month. Those who remain are those who are not short of money or have long-term investment needs."
It has to be said that the fact that the net value almost fell to its original value after the ex-rights in February, coupled with the fear in the investment market at that time, did help Junshi No. 2 in screening investors.
After the redemption channel was opened in March, many investors with weak willpower indeed redeemed their shares.
The early departure of these unstable factors is good news for the operation of Junshi No. 2.
Since tomorrow is a working day, trading is still ongoing and Gu Junhao has no way to systematically sort out Junshi No. 2's recent operations.
The market conditions in May and June are not particularly good. For the leeks, whether they can make a comeback in July is particularly crucial.
A-shares have a special mechanism and are in a bear market. Strictly speaking, there are not a few months in a year when the market is particularly good, and the market is relatively sluggish most of the time.
Whether or not you can seize the limited opportunities for rising prices can play a crucial role in your annual earnings.
At 5:30 p.m., the redemption channel for Junshi No. 2 in the second quarter was opened again, corresponding to the announcement of the second quarter results.
The overall scale is close to 8.5 billion yuan, with a net value of 6.0789 (44.88%), and the annual return still leads the private equity fund rankings.
Different from Junshi Value Investment's daily updates, Junshi No. 2 only announces its performance once a month, and the full month's earnings and portfolio adjustments are closed.
The sudden and sharp rise in front of us is far more eye-catching than the daily update of Junshi Value Investment.
The net value has increased for three consecutive months since Gu Junhao stepped down, which has completely eliminated investors' distrust.
Junshi No. 2's operations remain stable, and the new investment fund, although young, is also very stable.
"This is amazing. The returns of both funds in the first half of the year are ahead of their peers. Brother T is still Brother T."
"Whether it is a bull market or a bear market, Brother T can always make money. Such fund managers are the best."
"It's just a bit off topic. It is said that Brother T has not managed the fund much in the past month and has gone to invest in the primary market."
"I know this. I'm from Beicang. Brother T invested in two auto parts companies. Everyone joked that Brother T was screwing screws."
"They are not doing their job properly. The two funds were able to achieve a return of 40 to 50 points in the first half of the year despite such a bad market. This further proves that most fund managers in the market are rubbish."
"Brother T is really good at picking stocks. This month, Keheng shares almost doubled, and Dingtai New Materials rose by 2 times. It's really fair to allocate one stock like this to each fund."
"I used to envy those wealthy people who could invest in Brother T's private equity, but now I don't have to envy them anymore. Junshi's price investment has gained about 50 points in the past three months. This fund is very worth investing in."
"Yes, I wait to refresh the fund interface of Junshi Value Investment every night at 9:30. It has become a habit."
"When will Junshi Value Investments reverse its course to pick up people? It's almost time to announce its second quarter holdings. I wonder if there will be any changes from the first quarter."
"Not so fast. According to last quarter, Brother T will probably have to wait until the last day to announce it."
"I envy those investors who bought Junshi Price Investment on the first day of its launch. They made 50 basis points in return in half a year, which is much better than those of us who trade stocks on our own."
At 9:30 in the evening, Junshi Price Investment also refreshed its net value for today to 1.5209 (+0.85%), achieving positive returns for three consecutive months after the resumption of trading.
Its ranking has risen to the top five in the public fund ranking network, and its increase since the beginning of this year ranks first among all public funds!
Being able to maintain super high returns even in the bear market, investors are more looking forward to the performance of the two Junshi funds in the second half of the year .
In addition, due to the backdoor listing of Leading Express, Dingtai New Materials' 217.15% increase this month, 11 consecutive daily limits since its resumption of trading, and 14 daily limits for the whole month have attracted countless eyeballs inside and outside the market.
It can be said that in June's A-shares, apart from investors' attention to the battle for Vanke's equity in the second half of the month, the most discussed stock was Dingtai New Materials.
In addition to the national team, Junshi Value Investment, which holds 1.92% of Dingtai New Materials' shares in the A-share market, is also at the center of the topic.
As of June 30, Dingtai New Materials, which closed at 46.80 yuan, accounted for more than 5% of Junshi Price Investment's holdings, and its market value increased by more than 215 million yuan.
Due to the popularity of Dingtai New Materials and the fact that Junshi Value Investment performed very steadily even when the market fell sharply during the day, it naturally attracted a lot of investors to make additional investments this month.
Although many investors took profits, the overall scale was still very strong, exceeding 4 billion yuan.
Among Junshi's proprietary trading accounts, the total market value of Longji Green Energy Technology Co., Ltd. and Tianqi Liye Technology Co., Ltd. exceeds 1.1 billion yuan. As for NVIDIA, due to its 31.49% surge last month, although its increase this month is limited, its overall market value is still as high as over 336 million US dollars.
Based on the current exchange rate, the market value of Nvidia's shares held by Gu Junhao, whose share price is around US$47, is close to RMB 2.2 billion.
Adding the billions of cash in Junshi Capital's account, it means that Gu Junhao's actual operational capital has reached more than 16 billion yuan.
Moreover, due to the particularity of the industry, all of this is cash! It is already a force that cannot be ignored.
Currently, except for Junshi Capital, which is semi-publicly operated, the private placement and proprietary trading of the Junshi Group are all closed operations. In addition, the company never publicizes how much money it has made, nor does it issue any annual or quarterly reports.
The outside world may have some confusion about Junshi Capital's operating methods, but this does not exist for the upper class.
Gu Junhao's series of operations were all under the supervision of the regulators, and every T transaction could be clearly checked.
The success of the secondary market and a series of operations in the primary market this month have finally attracted some people's attention.
