Source: Snowball APP, Author: Wang Boya Investment, (
In recent years, in addition to U.S. stock funds, Indian funds have also received more and more attention.The reason is actually a little: rising, rising, rising!
There are two important indexes in the Indian capital market, one is the Sensex index of the India Mumbai Stock Exchange (BSE). The index was published on January 1, 1986, consisting of 30 companies from different industries.The figure below shows the historical trend of the index since its release in 1986.References to the index of this index can be referenced: India’s Sensex Index 39 -year returns distribution map.
Another important index is the Nifty 50 Index released by the Indian State Stock Exchange (NSE). The index was founded on April 21, 1996.EssenceThe figure below shows the historical trend of the Nifty 50 Index in recent years.
It can be seen that the Indian stock indexes are very beautiful, and it is not too beautiful to say as beautiful as a beautiful country.So, what are the Indian funds in China and what about the tracking effect?
2 Analysis and discussion
2.1 What are the Indian funds?
Unlike the funds that bloom everywhere, there are very few funds in the Mainland, only two.One is the ICBC Credit Fund (164824), and the other is the Manuri Indian stock (006105) of the Manuri Fund.
In order to better evaluate the performance of domestic Indian funds, I joined the Indian Sensex Index and Anshuo Sensex operating in the Hong Kong market as a comparison, and then made the following table.
Table 1 Indian Fund Comparison
2.2 Establishment time
The establishment of domestic Indian funds is relatively late. (164824) was established in mid -2018, and the Manuri Indian stock (006105) was established in early 2019.
2.3 Treat rate
The rate of Indian funds is really expensive!Many of them are 0.6%now, Indian -based LOF (164824) is 1.8%, and Manilist ’s Indian stock (006105) is as high as 2.1%.It is really the most expensive type of fund.
It should be noted that (164824) is a FOF fund. It is an overseas Indian fund and will charge another layer of handling fees, and the actual rate is around 2%.
2.4 scale
It can be seen that the scale of these Indian funds, including the Indian funds in the Hong Kong market, has not rapidly expanded in the past two years.Today, the Indian -based LOF (164824) is about 2.8 billion, and the Manuri Indian stock (006105) is about 1.4 billion.Thinking about it that year, the Indian fund almost died.
2.5
Indian base LOF (164824) is FOF fund and bought many overseas funds.
Manuri Indian Stocks (006105) are the stocks that are directly bought, and most of the positions are also the Sensex Index ingredients and the Nifty50 Index ingredients.
2.6 yield rate
We first compare them with the Indian Sensex Index.Based on 2019.12.31, as of 2024.09.13:
The Sensex index rose about 101%,
Anshuo Sensex rose 62%,
Indian -based LOF (164824) increased by 64%,
Manuria Indian stocks (006105) increased by 50%.
It can be found that they are behind the Sensex index, and the backward range is not small. Is there any greasy?In fact, it is mainly due to changes in exchange rates.India’s rupee has depreciated in recent years, which has caused a significant net value of funds for US dollars and RMB pricing.
In this period of 2019.12.31 to 2024.09.13, the rupee has depreciated by about 18%compared to the US dollar, and the exchange rate is eliminatedMumbai Stock Exchange. ETF increases by about 91%.The rupee has depreciated by about 16%relative to RMB, eliminating exchange rates, an increase of about 90%, and 74%of Manilist ’s Indian stocks.
In this way, it is still very good. After all, the position is dissatisfied, and there is such a high rate.
The above comparison benchmark is the Sensex index. Since the two funds are not directly targeting Sensex, they are not fair. Let’s take a look at their own standards below.
It can be seen that the Indian base LOF (164824) has lagged about 20%since its establishment, with an average of about 3%(value) per year.
There are more behind Manilia’s Indian stock (006105), which is about 40%behind about 5.5 years, close to 7%(value) each year.
2.7 premium
Hong Kong’s Anshuo SenseX has no premium.
(164824) often face a premium, and now the premium is 2%+less.
Manuri Indian stock (006105) is an off -the -market fund, so there is no discount.
2.8 limit situation
Hong Kong’s Anshuo SenseX is not worse, so most people cannot buy it.
(164824) Because the foreign exchange quota is consumed, it is impossible to buy outside the court. It can only be bought on the court.
Maniu India’s stock (006105) daily limit is 100 yuan, which can only be said that chat is better than nothing.
The Indian stock market is very good, but the Indian fund is facing problems such as high rates, low positions, and large operating loss, which has caused actual income to be more backward than the benchmark.
Considering the valuation, limit and management level, I will not buy Indian funds at this stage.Many fund companies are starting to open the US stock QDII fund, but I feel that it is better to open up the Indian market.If the market calls below a 1%rate, can a fund company see it?
Note: This article is only a personal investment record and does not provide suggestions for anyone.I have no interest in any fund company.Adults are responsible for their own money!
$ India Fund LOF (SZ164824) $ $ Manuri Indian Stock (QDII) (F006105) $
Jaipur Wealth Management