Every reporter Huang Xiaocong
Recently, as the three-quarter report of the fund has been disclosed, the trend of the fund in the third quarter has begun to appear in front of investors.
As the largest fund in the market, Tianhong Yue's size dropped by another 130 billion yuan in the third quarter, the second consecutive quarter since the opening of the platform this year.
Scale down about 130 billion copies
According to the three-quarter report, Tianhong Yue's total subscription share in the third quarter was about 1.74 trillion, and its total redemption reached about 1.87 trillion, which also caused its size to decline from 1.45 trillion at the beginning of the third quarter to 1.32 trillion at the end of the third quarter, equivalent to a decline of about 130 billion.
In terms of investment portfolio, Tianhongyue increased its bond holdings in the third quarter, from 9.43% at the end of the second quarter to 12.05% at the end of the third quarter, and increased its holdings from 137.2 billion yuan to about 159.5 billion yuan, equivalent to an increase of 22.3 billion yuan in bond investment.
As a result of the increase in bond holdings, the overall size of the decline, accordingly, its bank deposits and settlement reserves also declined, from 62.42% at the end of the second quarter to 60.12% at the end of the third quarter.
In addition, the change in the duration of the holdings portfolio is more obvious - the average remaining period of assets within 30 days, accounting for the Fund's net asset ratio from 43.50% at the end of the second quarter to 41.84% at the end of the third quarter.
What is more noteworthy is that assets with an average remaining period of 30 days (including) to 60 days increased from 12.93% at the end of the second quarter to 25.04% at the end of the third quarter; assets with an average remaining period of 60 days (including) to 90 days increased from 22.38% at the end of the second quarter to 2% at the end of the third quarter. 5.96%.
The average remaining period of 90 days (inclusive) to 120 days, 120 days (inclusive) to 397 days (inclusive) of assets, the proportion of net asset value of the Fund from the end of the second quarter of 9.11% and 11.91% to the end of the third quarter of 1.01% and 6.00%.
Obviously, in the third quarter, Tianhong Yue not only adopted the strategy of shortening the duration, reducing the remaining period of more than 90 days of asset allocation, but also made appropriate adjustments for the assets within 30 days, which is equivalent to doing a long-term action at the same time, so that the main allocation period of 30 to 90 days of assets. On the whole, the average time limit for holding assets falls from 58 days at the end of the two quarter to 49 days at the end of the three quarter.
Platform based cargo base portfolios vary.
This mode of operation, in fact, ensured that Tianhong Yue in the third quarter to obtain relatively good returns at the same time, but also to ensure its better liquidity.
The balance treasure platform shows that if we calculate the balance, we have a total of 13 cargo bases. Only one of the 13 carriers yielded more than 3% annually on a seven-day basis, which was recently linked to UBS Timberlake A.
Among the remaining 12 cargo bases, the 7-day annualized yield is the highest in the Central European Rolling Qianbao currency A, the fund's 7-day annualized income is 2.9830%, while Tianhong Yue's 2.6650% 7-day annualized income is basically the median. We can see that although the largest scale, but its yield is still higher than the balance of treasure platform part of the cargo base.
In addition, the three quarterly reports have been disclosed in the Yue Yu platform cargo base, compared with the continuous decline in the size of Tianhong Yue, some of the cargo base is still a significant increase in size. For example, China and Europe Rolling Qianbao A, which had a total subscription share of about 253.1 billion copies in the third quarter, had a total redemption of about 237.7 billion copies, an increase of about 15.4 billion copies, bringing the total size to 83.9 billion copies at the end of the quarter.
It is interesting to note that in the portfolio, the remaining maturity of the CE-Euro Ron Qianbao portfolio ranges from 120 days (inclusive) to 397 days (inclusive), and the proportion of the Fund's net asset value rose from 29.61% at the end of the second quarter to 50.13% at the end of the third quarter; while the remaining maturity ranges from 30 days (inclusive) to 60 days (inclusive) to 90 days (inclusive). They fell from 25.04% and 27.62% at the end of the two quarter to 15.13% and 9.74% at the end of the three quarter respectively. Obviously, this way of directly extending to more than 120 days is obviously different from that of Celestica.
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