A share allocation of bank financing subsidiary accelerates 100 billion increment bullets are ready to launch

category:Finance
 A share allocation of bank financing subsidiary accelerates 100 billion increment bullets are ready to launch


Equity assets of financing subsidiary

Recently, a number of financial subsidiaries of banks have been fully engaged in buying when the stock market is in panic mood, so as to achieve bottom reading. In recent three trading days, the market has risen 4.31% to recover some losses. The gem index has reached a new high in the past three years, with a cumulative increase of more than 12%.

The first financial reporter learned that after the opening of financial subsidiaries, many restrictions on investment in shares of financial subsidiaries have been released, and increasing the allocation of equity assets is its long-term direction. The golden pit caused by the impact of the epidemic accelerated this process.

For financial subsidiaries, because some policies are relatively different from the original banks asset management, in addition to bonds, standardized assets invested by financial subsidiaries also include stocks, and the general direction of increasing secondary market allocation of financial subsidiaries is the same. Under the impact of epidemic events, financial subsidiaries are accelerated to allocate. On the afternoon of February 6, a person in charge of a financial management subsidiary told the first financial reporter.

February 3 is the first trading day of the lunar new year. Affected by the new coronavirus epidemic, the Shanghai Composite Index fell 7.72% to 2746.61, the Shenzhen composite index fell 8.45% to 9779.67, and the gem index fell 6.85% to 1795.77. More than 3000 stocks fell, the Shanghai Composite Indexs biggest one-day decline since nearly four years (August 2015). Market sentiment is close to freezing point.

In the face of the epidemic and the harm caused by the epidemic, some bank financing subsidiaries, together with foreign capital and insurance capital, have become the counterforces of A-share, and have increased the allocation of equity investment.

The first financial reporter also learned that many financial subsidiaries believed that the impact of the epidemic was short-term, so they would seize the short-term trading opportunities.

On the first trading day after the festival, both the stock market and the bond market experienced huge fluctuations. Everbright financial investment department believes that there are good trading opportunities in the market and is optimistic about the long-term development of the stock market. In combination with the experience of SARS and the performance of the overseas market during the Spring Festival, we decided to actively make more equity assets in the secondary bond base and other products. When the stock market is in panic, we firmly buy, fully grasp the trading opportunities, and against the trend, we have realized the maintenance and appreciation of wealth management funds for our customers. In response, Everbright financial subsidiary said.

Previously, BOCOM financial also said, we are actively taking measures to help stabilize the market. We have been adding equity assets in these two days, and the proportion of equity assets may increase in the future.

With the help of bank financing subsidiaries and other funds, a shares fell in panic for only one day, and then rebounded sharply in the following three trading days.

On February 6, the Shanghai and Shenzhen stock markets once again ushered in the general market, the growth enterprise market index performance is particularly strong. By the end of the day, the Shanghai stock index was up 1.72%; the growth enterprise market index was up 3.74%, a new high in the past three years. In the last three trading days, the growth enterprise market index has increased by more than 12% and increased by 216 points.

This also means that financial subsidiaries, insurance funds and other counterfeiters and bottom reading are successful.

The first financial reporter also learned that for financial subsidiaries, after opening, many restrictions on investment in shares of financial subsidiaries have been released, and increasing the allocation of equity assets is its long-term direction.

In order to cope with the decline of financing income, it is a better choice for financing subsidiaries to issue equity and hybrid products with high rates and higher excess earnings. Tianfeng securities analysts also think.

According to the statistics of Guojin securities, 83.63% of the financial products issued by bank financial subsidiaries include bonds, 20.18% of the products include funds and only 7.02% of the products include stocks.

The incremental capital brought by bank financing subsidiary to A-share mainly comes from two aspects: one is the incremental capital brought by the growth of bank financing capital scale, and the other is the incremental capital brought by the increase of A-share investment proportion by financing subsidiary. In 2020, the incremental capital scale of bank financing for a shares is expected to be 145 billion yuan. Guojin Securities Research said.

Complementary advantages with other asset management organizations

Compared with the public offering products of bank asset management, which can only indirectly participate in the stock market through investment in public securities investment funds, financial subsidiaries can directly participate in the stock market. The measures for the management of financial management subsidiaries clearly points out that the public financing products of financial management subsidiaries can be directly invested in the listed shares, and stipulates that the holding of a single share shall not exceed 15% of its circulating shares.

The first financial reporter learned that in the past, due to the low risk preference, the banks asset management department was unable to directly invest in stocks, the number of people was small, and the degree of marketization was low, and there was basically no complete equity investment and research system.

Tianfeng securities also believes that in the past, the banks asset management department simply entrusted the fund to the investment manager for management, with few other demands. After the establishment of the financial subsidiary, it not only needs to obtain the expected investment income through the outsourcing business, but also expects to cultivate and improve the ability of its investment team. Therefore, the financial subsidiary attaches great importance to the research ability of the outsourcing management organization.

When the public financing subsidiary invests in equity assets, it can adopt direct or indirect methods, in which equity products are the focus of cooperation between public funds and bank financing subsidiary products.

Financial management subsidiary is a new ecology, complementary to all asset management institutions. Some asset management institutions are outstanding in their areas of expertise, such as the equity capabilities of private equity securities, which can not be achieved in the short term by bank financing subsidiaries. And some head organizations have strong appeal and strong brand effect. A financial subsidiary said.

The first financial reporter also learned that in order to increase the distribution of index products, the public offering and financial management subsidiary work together to develop customized index is also one of the options for cooperation between the two parties.

The requirements of financial subsidiaries are still very high, and we will not be relaxed because it is the bank funds. A public fund person of a banking department also told the first financial reporter.

In addition, compared with bank financing, public financing products issued by financing subsidiaries can employ private funds as investment consultants, that is, management products in the form of mom or similar mom.

The financing subsidiary enters the private placement industry, which meets the policy guidance, regulatory requirements and market demand. In particular, private equity funds are standardized products with standardized management, good trust and transparency, and good liquidity. Also known as the above financial subsidiaries. Guojin securities also said that from the perspective of capital nature and asset allocation, bank financing funds mainly come from general personal customers, with low overall risk preference, mainly stable investment and low volatility pursuit. The investment style of bank financing funds in a shares is similar to that of insurance funds. The third quarter of 2019 shows that the top ten major positions are mainly concentrated in large blue chip stocks such as industrial and Commercial Bank of China, Guizhou Maotai, Agricultural Bank of China, PetroChina, Ping An of China and blue chip stocks with outstanding performance. Therefore, analysts say that the incremental capital brought by the banks financial subsidiaries in the future will increase the demand for the allocation of blue chip stocks and blue horse stocks. Source: First Financial Editor: Guo Chenqi, nbj9931

The financing subsidiary enters the private placement industry, which meets the policy guidance, regulatory requirements and market demand. In particular, private equity funds are standardized products with standardized management, good trust and transparency, and good liquidity. Also known as the above financial subsidiaries.

Guojin securities also said that from the perspective of capital nature and asset allocation, bank financing funds mainly come from general personal customers, with low overall risk preference, mainly stable investment and low volatility pursuit. The investment style of bank financing funds in a shares is similar to that of insurance funds.

The third quarter of 2019 shows that the top ten major positions are mainly concentrated in large blue chip stocks such as industrial and Commercial Bank of China, Guizhou Maotai, Agricultural Bank of China, PetroChina, Ping An of China and blue chip stocks with outstanding performance. Therefore, analysts say that the incremental capital brought by the banks financial subsidiaries in the future will increase the demand for the allocation of blue chip stocks and blue horse stocks.