Fund companies frequently engage in "self purchase" marketing, mostly focusing on buying new product

Recently, fund companies have frequently engaged in self purchasing behavior. However, the Daily Economic News reporter noticed that most of the self purchases are for newly issued funds, while old products rarely appear. Moreover, from the time of the announcement, some people shout self purchases as soon as they start selling, while others shout self purchases when the fundraising deadline is about to be extended.

Although these self purchasing behaviors convey some positive signals of optimism, they also reveal some helplessness of the fund company.

The reporter also noticed that the recent issuance of new funds has continued to be weak. Wind data shows that the size of newly established funds since July is only about 10.5 billion yuan.

According to reporters, some fund companies may not have any new fund issuance plans in the past month or two.

Multiple fund companies announce self purchase

On July 11th, the Bank of Communications Schroder Fund announced that it will subscribe to its subsidiary, the Bank of Communications Schroder Qijia Hybrid Fund, with inherent funds of 50 million yuan within 10 trading days from the date of the announcement, and hold it for at least 1 year.

On July 6th, Rongtong Fund also announced that it had used its inherent funds of 9 million yuan to subscribe to the company's fund Rongtong Foresight Value mixed A-class shares with a one-year holding period. The company's chairman and senior management jointly subscribed to the aforementioned fund of 2.96 million yuan, with a holding period of no less than 1 year.

The above announcements also mentioned confidence in the long-term healthy and stable development of China's capital market and the company's investment management capabilities, which indeed conveyed a positive signal for the market to a certain extent.

It is worth noting that these subscribed funds are all new funds, and the announcement of self purchase is made at the beginning of the sale or when the fundraising period is extended, such as the Bank of Communications Schroder Qijia Hybrid Fund, which started selling on July 10th and announced self purchase on July 11th.

Rongtong Foresight Value has a mixed one-year holding period, which starts selling on June 15th. On June 30th, the subscription deadline for the fund was extended to July 7th, and on July 6th, Rongtong Fund announced its self purchase arrangement. The Daily Economic News reporter found that after announcing its self purchase, on July 7th, the fund once again extended its fundraising period to July 14th.

In addition to these two products, the reporter noticed that many fund companies have also engaged in self purchasing behavior recently, and most of them are also focused on new products.

For example, the Zhuque Industry Selection Hybrid, established on June 27th, has executives, fund investment and research department heads of fund companies holding a total of over 1 million fund shares; The fund manager holds more than 1 million fund shares; Shareholders of fund companies also hold 5 million shares of the fund.

Really optimistic or helpless?

The Industrial and Commercial Bank of China Anyue Stable Pension Target, established on June 28th, holds a mixed three-year (FOF), and the fund manager has purchased 75 million shares, accounting for 35.08% of the total fund share. The fund started selling on April 17th and was originally scheduled to end on May 12th. However, it underwent multiple delays until the fundraising ended on June 22nd, with a final establishment scale of only 214 million yuan and a valid subscription number of 1911 households.

In addition, the Jiashi Ark, which was established on June 20th with a one-year holding period of mixed funds, was subscribed by the fund manager for approximately 57.01 million shares, accounting for 20.45% of the total fund shares; The Huashang Innovative Medical Hybrid, established on June 13th, has been subscribed by the fund manager for approximately 20 million shares, accounting for 6.89% of the total fund share.

It is worth mentioning that the self purchase actions in these funds are relatively low-key, and they did not shout out for self purchase like the previous two fund companies. Instead, it was only discovered when the establishment announcement was made that the fund companies had made self purchases.

Of course, in addition to new funds, there are also some stock funds that have made self purchases. For example, at the end of May, several fund managers of China Southern Asset Management subscribed for some products under their own management, and Quanguo Fund Zhao Yi also subscribed for products under their own management. However, there are not many such cases.

Overall, fund companies offering real gold and silver to buy funds can indeed be seen as a positive signal on the one hand, but if they are all focused on new products, it may be more out of support for new products.

From a different perspective, if fund companies are truly optimistic about the market and provide genuine support for existing products, the signal may be more positive.

Of course, these self purchasing behaviors also reflect that the issuance of new funds is still relatively difficult at present. Wind data shows that since July, the establishment scale of new funds has only been about 10.5 billion yuan. If we follow this issuance scale, it may even reach a new low in a single month since 2023.