Fold down tide reproduction January grading fund scale dropped last year the market higher, grading fund with a lever in the bull market investors become popular varieties, its share of large-scale surge. But since January this year, a wave after a crash, the classification of the fund suffered a "leveraged bear", the overall losses are frequent, off the tide, the scale has shrunk dramatically. According to Wind statistics, as of January 29th, grading fund A, B share of the total size of 109 billion 91 million copies, compared with the end of last year’s size has shrunk 2 billion 908 million copies. Back in January, the Shanghai Composite Index fell 22.65%, the biggest monthly decline in eight years. The index continued to drop, resulting in a large number of grade B fold lower tidal frequency. This is mainly because, due to the leverage or help, when the decline of the parent fund, B funds are often deeper decline, which makes B funds are frequent large area limit situation, some even suffered a high premium discount. For example, the 2016 year on the first day of trading, is also the first day of the implementation of circuit breakers, business unit B will encounter off, then firms B, B, B and other electronic convertible bonds also have discount. In the last trading day of January, and 9 grade funds crashed again, including the current classification of the largest fund rich military grade. According to statistics, 143 class B shares fell more than 50% of the base, there are 55, accounting for nearly 40%, or more than 60% have 19, accounting for 13.29%. There are deep B, military B, gold B three funds fell more than 70%. With the B fund net fell sharply is accompanied by reduced the size of the fund classification. According to Wind data, as of the end of January, grading fund A shares and B shares on the size of the total 109 billion 91 million copies, compared to last year has shrunk 2 billion 908 million copies, compared to the heyday of June 2015 is already lost more than 70%. Specific to a single fund, in January is the fastest shrinking share in securities Penghua grade, A and B share dropped 3 billion 42 million, the remaining 717 million copies, has shrunk by up to 80.90%. The fund was established in May 2015, after the fund size has been around 400 million, after the fourth quarter of last year rose to 3 billion 760 million after the scale. However, the January crash makes it has insufficient scale dropped, the peak period of 20%. Insiders said that in general, the larger the product often liquidity is relatively good. In Penghua securities classification scale of the fund has shrunk to liquidity challenges. In fact, after the break, the classification of the fund liquidity poor suffered heavy losses, capital outflow trend is obvious, the small size of the fund is "zombies". Enter [Sina Finance shares] discussion

下折潮再现 1月份分级基金规模锐减   去年行情走高,带有杠杆的分级基金成为牛市中投资者喜爱的品种,其份额也大规模飙升。但是今年1月以来的一波大跌之后,分级基金遭遇“杠杆熊”,整体损失惨重,频现下折潮,规模也大幅缩水。   根据Wind数据统计,截至1月29日,分级基金A、B份额场内规模合计为1090.91亿份,相较去年末的规模已缩水29.08亿份。   回顾1月份,上证综指暴跌22.65%,创八年以来最大单月跌幅。指数的持续大跌,导致大量分级B下折潮频现。这主要是因为,由于杠杆助跌作用,母基金下跌之时,B类基金往往跌幅更深,这也就使得B类基金频现大面积跌停的局面,部分甚至遭遇高溢价下折。   比如,2016开年第一个交易日,也是实现熔断机制的第一天,创业股B就遭遇下折,随后,券商B级、可转债B、电子B等也都纷纷下折。就在1月的最后一个交易日,又有9只分级基金再度折戟,这其中包括当前规模最大的分级基金富国军工分级。   根据统计,143只B类股基里,跌幅超过50%的就有55只,占比将近四成,跌幅超过60%的有19只,占比13.29%。还有深成指B、军工B、网金B三只基金跌幅超过70%。   与B基金净值大幅下跌相伴的是分级基金规模的锐减。根据Wind数据,截至1月底,分级基金A份额和B份额场内规模合计为1090.91 亿份,相较去年底已缩水29.08亿份,相比2015年6月鼎盛时期更是已经缩水七成有余。   具体到单只基金,1月里份额缩水最快的是鹏华中证证券分级,A、B份额均锐减30.42亿份,目前各自仅剩7.17亿份,缩水幅度高达80.90%。该基金成立于2015年5月,此前该基金规模一直在4亿份左右,经历去年四季度之后规模大幅攀升至37.60亿份。然而,1月份的大跌使得它规模锐减,目前已不足巅峰时期的两成。业内人士表示,一般而言,规模较大的产品往往流动性也比较好。鹏华中证证券分级的大规模缩水使该基金的流动性面临挑战。   实际上,经过连续的下折,部分流动性不佳的分级基金遭遇重创,资金流出趋势明显,小规模基金日渐“僵尸化”。 进入【新浪财经股吧】讨论相关的主题文章: