Ten billion private placement adds new army value school fund keen to control scale

category:Finance
 Ten billion private placement adds new army value school fund keen to control scale


The value group fund managers, in addition to showing a strong gold ability, but also show a strong control over the ability boundary. For example, after the first day of hot sale of Lin Pengs harmony Huiyi asset, the first consideration is not to take the opportunity to expand, but to actively control the scale, including limiting the number of products on the shelves, lowering the upper limit of single product households, etc. And the Ruiyuan fund, led by Chen Guangming, has frequently restricted its purchase and controlled its scale in the comfort zone.

Harmony Huiyi asset, founded by Lin Peng, opened its first day of product launch on October 19. It sold 15 billion yuan on that day, adding new members to the 10 billion level private equity club. However, the reporter of China Securities News learned that Hexie asset has taken the initiative to take measures to control the scale, including limiting the number of products on the shelves and lowering the upper limit of the number of single product households. Due to the fact that the funds of some pre appointment customers are still on the way, considering the customer experience and ensuring that all products are established at the same time, the product collection period will end on October 23 according to the original plan. At present, the fund-raising work has entered the closing stage. Industry insiders predict that the scale target of Lin Pengs new products may be controlled around 20 billion yuan.

According to public information, Lin Peng joined Dongfang securities (11.410, 0.03, 0.26%) in 1998. After Dongfanghong asset management was approved to be established in 2010, Lin Peng served as the securities investment manager and executive director of the investment department of the special account; since September 2014, he has been the fund manager of several fund products such as Dongfang hongruifeng fund. In May this year, Dongfanghong asset management announced that Lin Peng, the companys deputy general manager and general manager of the public equity investment department, left the company due to personal reasons; in August this year, the filing information of the Fund Industry Association showed that Shanghai Hexie Huiyi asset founded by Lin Peng had completed the registration of private securities investment fund manager.

However, the reporter found in the interview, there are also market participants on the first show of harmony Huiyi assets quite a bit of criticism.. The first show really became a performance, including the publicity campaign in the early stage and the subsequent product subscription booking. Harmony Huiyi assets has its own control over these links. And no matter how the investment performance of harmony Huiyi asset is, the marketing and sales means are undoubtedly first-class. These tactics are the same as those of other companies in the industry. Investors may be affected, but as peers, they are not surprised. A private equity firm in Beijing commented.

On the first day of issuance, some measures to actively control the scale are taken, which are rare in the newly established private equity fund companies. However, in the current market environment, there are not a few fund managers who actively control the scale, especially those adhering to the concept of value investment. They attach great importance to whether the scale is in the comfort zone, that is, whether the management scale matches their own management ability.

Its not just Lin Peng. At present, there are a number of institutions and investment managers who are more cautious about the scale in the public private equity industry. For example, Ruiyuan fund and other institutions clearly transmit information, control the pace of product issuance and control the scale of products. In addition, some fund managers who have a strong voice in institutions also have their own rhythm in scale. Huabao securities fund analysts said.

Rush for privacy

It is understood that since this year, in addition to Lin Peng, a number of investors have moved to private placement. In April, Yu Haifeng, the former managing director and investment manager of Taikang assets, resigned from Taikang assets. Shanghai Shenzhi asset, founded by him, was officially established on July 13 and registered on September 14. On October 10, Yu Haifengs first product careful knowledge of assets known was also filed. In addition, Yu Yang, who once worked for Wells Fargo fund, participated in the registration of Shanghai Qinmu assets in September. Wang Wenxiang, former research director of Dacheng Fund and director of Social Security Investment Department of Dacheng Fund, chose to join Shanghai juming assets.

Source: Ren Hui, editor in charge of China Securities Journal_ NBJ9607