Private institutions prepare for the new third board and suggest that individual investment should pay attention to risks

category:Finance
 Private institutions prepare for the new third board and suggest that individual investment should pay attention to risks


For individual investors, many private investors suggest paying attention to investment risks. In addition, its hard to say whether the current A-share fight new myth can continue to the new third board. Its a better way to participate in the new third board investment through funds.

Focus on new economy

Since 2016, private equity has become one of the most important participants in the new third board market.

Xu Ming, general manager of national equity transfer company, revealed at the China Private Equity Fund Industry Summit last year that private fund is an important provider of direct financing for companies listed on the new third board. By the end of November 2019, private fund has participated in 5438 stock issues of listed companies and invested 254 billion yuan, accounting for 51% of the total amount of financing issued on the market. Private fund is also the most important specialty in the new third board market Institutional investors and important shareholding institutions. As of the end of November 2019, there are 25000 new private fund securities accounts (including equity and securities) on the third board, accounting for 93% of the total accounts of professional institutional investors. Private fund and managers hold the stock market value of 275.9 billion yuan, accounting for 9.3% of the total market value of the whole market.

A private equity investment manager in Shenzhen told reporters that in the process of comprehensively deepening reform and rapid promotion of the new third board, after the formal implementation of the transfer board system, the selection layer will become an important channel for interconnection between the new third board, the science and technology innovation board and the growth enterprise board. The attractiveness of the new third board market will greatly improve, which will also improve the liquidity, financing function, pricing function of the whole market. In this context, first into the selection layer, then the board listing will become an important path for many small and medium-sized enterprises.

After the new three board rules are implemented, how will private equity fund layout?

In terms of specific layout, Zhang Chi said that Xinding capital would focus on relevant enterprises in the four fields of integrated circuit, biomedicine, artificial intelligence and new energy vehicles. We are familiar with these four areas, which will also be our key investment areas in the new third board. Zhang Chi said, there are also enterprises with high technology content in the new third board, which is also our direction. At present, the company is optimistic about leading enterprises with high technology content in the new economy, such as biomedicine, new materials, high-end equipment manufacturing and 5g.

By comparing the competitiveness and price comparison between the new third board and A-share companies in the same industry, Xia said, only companies with advantages can have the value of research and attention.

Pay attention to risks when making new

At present, the market is focusing on the new third board, and there is no doubt that fighting for new is one of the hottest topics in the new third board. As for innovation, many private equity institutions are cautious. At the same time, it is suggested that individual investors participate in the new third board investment through funds and so on.

According to the data, as of June 3, 2020, the national stock transfer system has accepted the applications of 48 Enterprises for public issuance of shares and listing at the selective level, and issued inquiry opinions to 38 of them; as for investors, at present, the number of qualified investors in the new third board market has exceeded 1 million.

In an interview with reporters, Yang Ruyi, executive director of Chunshi capital, said that in terms of fighting new, although fighting new of a shares is almost a myth of unbeaten performance, its really hard to say whether this myth can continue to the new three board selection layer.

Yang also said that for individual investors, it is not recommended to invest in the new third board, including the selection layer and innovation, because the new third board enterprises are generally small and medium-sized enterprises, and the risk of normalization and sustainable operation is greater than that of A-share companies, while individual investors are generally difficult to distinguish. If only through the financial data to invest, one sidedness is too big.

Zhang Chi also holds a similar view, saying that for individual investors, it is investment risk that should be paid attention to. After all, the new three Board companies are uneven. How to choose the right stocks and how to make investment judgments is the top priority. The information disclosure of new third board enterprises is lower than that of A-share listed companies. It is difficult for investors to make investment judgments based on public information only. Comparatively speaking, institutional investors go to the scene to do their best and follow up the enterprises for a long time before making investment decisions. Therefore, if you are not familiar with the enterprise, you are not recommended to directly participate in the new third board, it is better to participate through the new third board fund. In addition, Zhang Chi also said that investors should try their best to choose the industry they are familiar with in order to avoid chasing hot spots and high-end market transactions. Xia pointed out that for investors who cant reach the threshold, they can pay attention to cross market funds. But for the style of the fund, the historical return, as well as the investment philosophy of the fund manager, it also needs to have enough understanding and cognition. Source: responsible editor of Securities Times: Ren Hui_ NBJ9607

Zhang Chi also holds a similar view, saying that for individual investors, it is investment risk that should be paid attention to. After all, the new three Board companies are uneven. How to choose the right stocks and how to make investment judgments is the top priority. The information disclosure of new third board enterprises is lower than that of A-share listed companies. It is difficult for investors to make investment judgments based on public information only. Comparatively speaking, institutional investors go to the scene to do their best and follow up the enterprises for a long time before making investment decisions. Therefore, if you are not familiar with the enterprise, you are not recommended to directly participate in the new third board, it is better to participate through the new third board fund.

In addition, Zhang Chi also said that investors should try their best to choose the industry they are familiar with in order to avoid chasing hot spots and high-end market transactions.

Xia pointed out that for investors who cant reach the threshold, they can pay attention to cross market funds. But for the style of the fund, the historical return, as well as the investment philosophy of the fund manager, it also needs to have enough understanding and cognition.