For stock funds, the size cannot be too large or too small. If the size is too large, the fund manager is not easy to operate, and the fund style drift is likely to occur. For example, if you buy a stock fund that invests in small and medium-sized stocks, the performance of the fund is so good that everyone goes to buy it, and the scale continues to expand to more than 10 billion. Then it is difficult for the fund manager to select the small and medium-sized stocks he likes in the A-share market. Because the small stock ratio is small, it will rise sharply when he buys it, so he is forced to buy which large stocks, This has resulted in fund style drift. Generally, it is appropriate to invest in small and medium-sized stock funds with a fund size of 1 billion to 2 billion. If you want to invest in large cap stocks, it is appropriate to invest between 3 billion and 10 billion.
Public funds have been expanding in the past few years, and there is a great demand for professional fund talents. Excellent fund managers need a certain talent and need to be polished by the market, so there is no way to speed up. It is undeniable that there must be some first-class fund managers operating first-class funds, but the overall proportion will not be too high.
These can still be discussed on the table, but some fund managers have committed scandals that even violate the law. Since 2013, China has set off a huge wave of continuous high pressure anti-corruption, which is also the beginning of the year when the CSRC started a continuous heavy handed fight against rats. Beating mice is to crack down on fund managers' rat positions. All fund managers in the world are not allowed to open accounts to speculate in stocks, because fund managers are insiders and have huge information advantages compared with ordinary investors. If fund managers make use of information asymmetry to earn money from customers, the stock market will become a fund manager's cash machine. The behavior of the fund manager is as hateful and hateful as the rat eating the public food, so it is called the rat storehouse.
The rat position in public funds has a long history, and even once became the secret of the whole industry. In the absence of the fund supervision mechanism for a long time, not only fund managers are suspected of rat positions, but even the fund helps, including industry researchers. The classic case of Rat Cang, "The Case of Rat Cang Ma Le", can refer to the reading to understand the behavior of Rat Cang.
