dylangangpoker| Nearly 90% loss? Jimin: It turns out that I paid for the pension of the fund manager

"the state has introduced a personal pension for more than two years, and you have paid it full.Dylangangpoker24000 yuan, how much have you lost so far? IDylangangpokerWe have already lost 12%, and what is worse, there is no one who has outperformed the 300 index in a year. I'm afraid these fund managers will have to pick up junk to make a living in their old age, and give them all they need to provide for the aged. " Recently, a netizen posted a screenshot of his personal pension account, which really resonated with countless people, one after another posting the "record" of his account to tease each other.

There's nothing wrong with that. After all, for investors, why invest if they don't make money? If there is no income, why is it called old-age pension? Compared with ordinary investment, pension investment should not only increase the value of wealth, but also pay more attention to the "preservation" of wealth.

The ideal is very plump, the reality is very bony.

According to iFind data, there are only 27 Y-share pension funds that have made profits in 2023. Among them, the three pension funds with the highest growth rate are held by Ping an and steady pension for one year (017336DylangangpokerOf), Huaxia conservative pension one-year holding mixed (017359DylangangpokerOf), ICBC pension 2055 five-year holding mixed launch (020316.OF), the three funds rose 3.96%, 2.35% and 1.75% respectively, the annual increase is not high, compared with the short-term debt funds on the market has no obvious advantage.

On the other hand, there were 153 Y-share funds losing money in 2023. Specifically, Guotai Junan (601211) Sunwu pension target 2045 five-year holding mixed launch (017905.OF), Oriental Hongyi and active pension five years (017675.OF), national life security pension target date 2030 three-year holding mixed initiation (017901.OF), and other seven funds fell by more than 11% for the whole year, and 13 Y-share pension funds fell more than 10% in 2023, resulting in large losses.

Overall, for the whole of 2023, Y-share products of individual pension funds can be counted in the market. There are 27 positive returns and 153 loss-making funds. Loss-making funds account for nearly 90%, with an average loss of about 3.7%.

What kind of concept is this?

For the whole of 2023, excluding newly listed stocks, 2885 A-shares rose and 2430 fell, while the Wande Quan An index fell 5.19% for the whole year. In other words, if investors close their eyes and buy any stock at the beginning of 2023, the success rate of holding to the end of the year is 54.3%, with an average loss of 5.19%. The success rate of investors buying Y-share pension funds at the beginning of the year and holding them by the end of the year was 15%, with an average loss of 3.7%.

This income performance is undoubtedly an unsatisfactory answer for Y-share funds that boast "pension", "robust" and "conservative". It is difficult for investors to understand why the investment they use to provide for the aged will lose more than 10% in just one year. If they lose money at this rate for a long time, I am afraid that before they retire, the net value of the money in the account will directly return to zero. Nothing left. Providing for the aged in this way is undoubtedly the opposite of the original intention of setting up individual pension accounts.

Dong Keyong, secretary-general of the 50-person Forum on Endowment Finance and former dean of the School of Public Administration of Renmin University of China, said publicly that there were "four more and four less" during the trial period of the personal pension system: first, the number of people covered by the system was large, but the actual number of participants was small; second, the number of people opening accounts was large, and the number of contributors was small; third, the number of low contributors was large, while the number of high contributors was small; fourth, the number of products was large, but the actual number of buyers was small.

So, how can Y-share funds get out of the predicament and provide better services for investors? Excluding market factors, the author believes that the major fund companies should really be less "I think" and more "investors feel". Professional institutions should not always want to tell investors how reasonable it is to withdraw and lose money, and how rational long-term investment should be. Instead, they should really consider how to do a sound old-age-oriented financial management in the interests of investors. How to maintain and increase the value of the hard-earned money of ordinary people (603883) is no longer difficult-- less expenses, less retracement, and more stable annualized returns. Only in this way can we make the cake bigger and let more investors participate in individual pension funds.

After all, if you can't make money from investment, what's the point of getting into the habit of investing? If the pension fund can't make money, what about providing for the aged?

The development of individual pension funds is still on the way.

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