Semi Annual 2018 report card is about more than half the race, raised funds in the first half results will emerge。In this unusual six months, slid 16 percent, credit default risk go hand in hand, the new management regulations such as about how to behave ,,,?  Introduction "When we feel the beginning of the year to have about 10% of revenue is a good level。But fluctuations in the market far exceeded our expectations。"2018 is about half the race, active equity raised funds to score in the first half is about to emerge。  Since February affected the market continues to decline in the first half of the equity raised overall sluggish performance, sweeping away large profits last year, pomp。According to statistics, as of June 27, the first half of this year raised more than eighty percent active equity products (including ordinary, partial shares, flexible configuration funds and balanced funds) lost earnings, end to end performance margin up to 58%。  From the performance of specific funds, despite recent adjustments pharmaceutical sector, but the accumulation of the first five months or pharmaceutical thematic funds still become the absolute leader, Pa screen returns leading the list。Among them, the rich accurate medical 24.52% of revenue behind in the first。  Is the deepest decline in silver and silver theme of the new economic policy this year were a loss of 33.36% and 32.65%, ten Awkwardness two funds before the end of the quarter in both ZTE (000063) in the column。  The average loss of 6.82% A-share continues to fall。June 28, the main stock index finished lower, late diving, eventually fell 0.93% reported 2786.9, this is the fourth consecutive days fell huzhi。  2017 compared to the previous year, this year, the main stock index slid 520.27 points, a drop of up to 15.73%; In terms of the high point of the year 3587.03 points to estimates, compared with the latest market has fallen 800 points.13:00, as much as 22 retracement.3%。  Under market downturn, active equity raised funds to large losses。According to statistics, as of June 27, 2955 (sub-share statistics) can be recorded in active equity fund returns during the year, and achieved negative returns of up to 2384, accounting for up to 80.68%, the average loss rate of 9.07%。In terms of 2955 funds to statistics, the average loss rate of active equity funds during the year to 6.82%。  Among them, in February and June are the main stock index to adjust the most intense two months, fell by 6.3% and 9.66%。In the past two months, the average equity fund fell initiative of 2.And 5 to 35%.31%。  Specific to a single fund, in the first active equity fund performance ranking of 50 is the basic medical and health related topics fund or heavily loaded with the pharmaceutical sector stocks Fund。  Among them, the year of return above 10% of active equity funds have 25, gains the top ten funds are: precision medical rich, rich new impetus A, Central European healthcare C, rich new impetus C, China Universal health care services, healthcare Central Europe a, intermediation healthcare industry a, Wells Fargo healthcare industry, JP Morgan on health care and postal enjoy a year on a regular basis, these 10 funds gains this year are more than 15%, the average increase was 19.06%。In addition, Wells Fargo is one of only a precise medical active equity fund rose more than 20%, the rate of return this year to reach 24.52%。  From the performance trend of above 10 funds, these funds hardly affected the market crash in February, the average monthly decline of only 0.31%; but in June, the market adjustment, the pharmaceutical sector, there have been shaken, this 10 fund performance significant retracement, the average monthly decline of 5.99%。However, since these funds the previous five months had accumulated a large lead, so even if the net value of the callback is still occupy a leading position。  Fund achieved negative returns in, fell more than 30% have four, namely Bank of the new economy, the Bank of policy theme, Yinhua consumption acetate and rich urban development; decline between 20% -30% up to 87。From the positions style, these funds mostly to growth style fund。  Battle for the second half of the performance of the first half of this year, many fund managers quite helpless。  June 28, Shenzhen, a public fund manager, told reporters, "In fact, when we are beginning to earnings forecast for this year would have been not high, because after a year of broad based, the market is generally considered more difficult to make money this year is the year of the so when we feel the beginning of the year to have about 10% of revenue is a good level。But fluctuations in the market far exceeded our expectations, especially in June, the situation appears to be more passive, but now they can only see the second half of the。"At present, the fund manager of the fund during the year a loss of 9%。  In nineteen extreme differentiation in the market, we achieved a positive return was not easy。This year only a handful of funds adverse economic differentiation pattern achieved positive returns, with this year being consistent with market conditions。  Into the second half, raised funds generally negative income situation can reverse?Pharmaceutical Fund can continue to lead?These issues full of the unknown。  The idea that the fund will continue the theme medicine trend in the first half of。Beijing, a public fund managers believe that the pharmaceutical sector adjustment has been half a month, until the risk has been basically digested rapidly rising accumulation, from a valuation and fundamentals, the pharmaceutical sector as a whole will still have better investment opportunities。Of course, from the point of view of individual stocks, some early gains in pharmaceutical stocks may be at risk of stagnation or further adjustments。  From the point of view on line, Medicine (CITIC) plate March were up to May 11.46%, 0.42%, 6.63% down since June 11.81% did digest some risk; Quote change from year term, medicine (CITIC) sector gains this year 0.Is one of only 72% of the whole market made a positive return of two industries, inferior catering and tourism (CITIC) 7.After the 69% increase。  However, some agencies believe that the market vulnerable moment, this round has ended or whether pharmaceutical market after a short break to continue to take the cattle, need to wait and see。  Shenzhen, a private person to reporters that "the current situation of the market is not down enough who will turn again, under the market does not stabilize, it is difficult to say in which direction the judge leading the next wave of market conditions。Especially after the market fell below 2800 points mark, then in the end are difficult to judge how to go。"