Source: Securities industry experts

Because the famous female general Fan Yan was included under his commandFreepokermachinesWells Fargo funds once again appeared in the eyes of experts. While this well-known veteran public offering collected nearly 5.5 billion management fees in 2023, it also broughtFreepokermachinesMade a loss of more than 24.7 billion.

The female general has a high salary.

A month ago, the expert commented on the departure of Ms. Fan Yan, the "head of Huadan" of Yuanxin Yongfeng.

Now the news has come that she will join the Wells Fargo Fund. This is also another major "poaching" incident in the Wells Fargo Fund recently, following the former BOC Securities Bai Bingyang and Dacheng Fund Xie Jiale.

Of course, from the perspective of the professional development of fund managers, Wells Fargo funds have an advantage that is difficult to replicate.

It has been 1/4 centuries since the establishment of this veteran public offering in April 1999. According to the China Foundation Association, Wells Fargo now has 798 employees, including 90 fund managers and 64 investment managers. Both the talent team and the development prospects have impressed the experts.

Hundreds of billions of scale

According to Tiantian Fund Network, as of May 7, Wells Fargo funds had a total of 623 products, with a total management scale of 9238.Freepokermachines.96 billion yuan.

Among the "top ten", the Wells Fargo fund ranks fourth after Huaxia Fund, Southern Fund and Castrol Fund, while it ranks seventh in the industry.

In terms of overall performance (as of April 30 this year), although equity stock, hybrid and index products have negative returns in the past year, they all outperform similar average and Shanghai and Shenzhen 300 investors QDII products with an income of 3% in the past year.Freepokermachines.99%, the performance is better than the market, but not as good as the average of 10.05% of the same kind. Larger money funds and bond products performed positively, but underperformed similar averages and all-debt indices.

Slightly turning over the individual product performance, the largest product is the mixed-stock product "Fuguo Tianhui growth mixture" managed by Zhu Shaoxing, with a scale of 25.896 billion yuan and a loss of 3.02% in the past year.

Earlier, according to media reports, Zhu Shaoxing "bought" this product in the first half of 2023 and cleared his stock in the second half of the year. In this regard, Wells Fargo Fund issued an annual report to correct the announcement that it was due to the caliber of data extraction, which deeply apologized for the inconvenience to investors.

Of course, if the statistical caliber is wrong caused by the "misunderstanding", experts believe that investors will not care.

However, what ordinary people really care about is that they have paid real money and money and accompanied them for many years, not only failed to achieve satisfactory gains, but also suffered substantial losses.

Make a substantial loss

According to the statistics of Tiantian Fund Network, the total income of all the products under Wells Fargo Fund in 2023 is-15.684 billion yuan, and the net profit is-24.781 billion yuan.

While losing a lot of money, Wells Fargo funds made a lot of money: collecting managers' remuneration as high as 5.468 billion yuan, custody fees of 1.071 billion yuan, and sales service fees of 765 million yuan, which were paid to trustees and sales agencies respectively. And this money is supposed to be the hard-earned money of the base people.

Connoisseurs compared the top 10 public offerings in the industry, and Wells Fargo funds ranked fifth in net loss. Based on the average size of its current management, Wells Fargo funds charge the highest proportion of management fees in TOP10, while the proportion of losses ranks fourth.

Compliance matters

At the same time, the compliance management of Wells Fargo funds has also been questioned by the media.

As of the end of 2023, 12 products owned by Wells Fargo Fund held Sinochem, with a total of 27.5972 million shares and a market capitalization of 168 million, according to a report by @ smart investors.

You know, in March this year, Xinjiang Securities Regulatory Bureau issued a number of fines against Sino-Thai Chemical and its controlling shareholder, Zhongtai Group.

The first quarter report shows that the number of Sino-Thai chemical shareholding institutions has decreased to 10 from 221 at the end of 2023. In the event of violations, when most institutions have already run away, Wells Fargo's Wells Fargo Fund's six-month holding period of Wells Fargo returns is mixed with Wells Fargo's robust Tianli Bond A, which is still "holding on" for some reason.

Earlier, the Association of Interbank Dealers announced that Wells Fargo Capital Management of Wells Fargo funds had been investigated by the Association of Dealers for assisting issuers in "self-financing". This investigation has lasted for more than a year, and there is no new news.

As a veteran public offering, should we cherish feathers, be diligent and dutiful, and give investors more satisfactory returns while operating in compliance?