Alipay is suspected of manipulating fund sales ranking?Ant to apologize

2022-08-03 0 By

How did the star fund that had been no.1 in the “sales list” disappear overnight?Over the weekend, Alipay “quietly” removed the China-Europe medical hybrid fund managed by Glen from the weekly sales ranking, which was widely concerned by the market, and some media directly questioned the Alipay fund platform to “manipulate the list”.This afternoon, Ant Fortune apologized, admitting that it had changed its list rules without disclosing them in a timely manner.The product she manages, Central Europe Healthcare, has had a high net worth growth performance in the past few years and is known as the “goddess of medicine” because of its high return rate.But since the second half of 2021, the overall pharmaceutical sector has suffered from a downturn as the process of intensive pharmaceutical procurement has accelerated. Last year, the four pharmaceutical theme funds managed by Grenn recorded negative returns.In the face of continued callback of the medical plate, the more people fell more buy.In the fourth quarter of 2021, the scale of five funds managed by Gulen has exceeded 100 billion yuan, reaching 110.339 billion yuan, becoming the largest fund manager in active equity funds.It is a common behavior of the stock market to chase the rise and fall. Generally speaking, when the net value of the fund falls sharply, it is often sold by investors in large quantities, accelerating the shrinkage of the scale.The scale of gulen’s increase is rare.The products managed by Grenn are also regular customers in the weekly sales list of Golden Selection Fund on ant Wealth platform. According to the weekly sales list of Alipay fund before the update, “China-Europe Medical and health Mix C” managed by Grenn ranked first, with more than 300,000 people buying it in the past week.But there is no sign of Gulen’s management products in the latest list.However, during the same period, it can be seen that “China-Europe Medical and health mix C” still ranked third in weekly sales on Tencent Wealth Management Platform.During the same period, the ranking of similar channels was still in the top 10, but it suddenly fell out of the top 10 of the weekly sales list of Alipay Gold Selected Fund. And the updated ranking of weekly sales list of Alipay Fund shows that the top 10 fund products “purchased in the last week” were purchased by more than 100,000 people in the last week.No. 10 purchased more than 50,000 people in the last week, which is in sharp contrast to the purchase of more than 300,000 people in the previous week for “China-Europe Medical and health Mix C”, causing doubts in the market. Some media directly pointed out that the Fund platform of Alipay was suspected of “manipulating” the sales list.Regarding the changes in the list, Ant Fortune responded to the media on February 14, saying, “The weekly sales ranking in the List of Ant Fortune is objective data of weekly investors’ subscription. Recently, with the market volatility, investors began to allocate more robust fixed income and fixed income + products.””The sales ranking is mainly based on the total number of subscribers and subscription amount. Recently, with the market volatility, investors began to allocate more robust fixed income and fixed income + products.”However, on February 14, in the rules of the gold list published on the Alipay platform, the rule of “weekly sales TOP” only describes “products purchased by the most people in the recent week”, without the “comprehensive ranking” claimed by Ant Fortune when responding to the media.On February 15, Ant Fortune again responded to the weekly sales list changes.”In order to improve the ranking logic of the list, starting from February 12, we added the dimension of ‘weekly net subscription amount’ to the single subscription number. When a product’s weekly net subscription amount is negative (i.e. net redemption) during the same period, it will not enter the weekly sales list,” Ant Told Guanchan.com.We will continue to optimize the rules to present a more comprehensive picture of the market and better protect the rights and interests of investors.”Ant Fortune also said: “Due to our work error, when the weekly sales list was updated, the list rules page was not updated synchronously, so we are very sorry for causing misunderstanding.Thank you very much for your supervision and suggestions, and we will continue to strengthen the meticulousness of our work, and continue to improve investor services and rights protection.”On February 15, I checked the list of gold selected by Alipay again, and found that the rules of “TOP weekly sales” list had indeed shown the words “products with net redemption during the same period do not enter the list”.However, the position of this rule is relatively hidden. There is no rule marked on the list page, and no obvious prompt to guide users to view the rule. Only when clicking the position as shown in the red box below, users will jump to the rule page.Net source | observer