At the beginning of the year, the quantitative private equity storm has not stopped for too long, and the private equity industry has exploded mines one after another!
The well-known private offering Ruifengda suddenly went empty, its products could not be redeemed, and investors suffered heavy losses. Subsequently, some private equity firms were interviewed, and the question pointed to the "help funds" used to raise products. According to media reports, relevant private equity firms were asked to give a reasonable explanation for the situation that "the product was redeemed substantially by investors as soon as it was established, even on the day of its establishment."
In addition, during this period, the new product filing of the relevant private equity institutions will be suspended, and the relevant departments may give corresponding penalties as appropriate.
The question is, what is "help money"?Slotsthatpayrealmoneywithnodeposit?
In the fund raising difficulties, "fans"SlotsthatpayrealmoneywithnodepositIn cases such as your "shell preservation" or the annual performance review period, "help funds" may be an unspoken rule in the industry. The sources of "help funds" in the market mainly include brokers, futures companies and other institutions.
Of course, this favor is not in vain, and the cost of "helping money" is not low. According to media reports, the cost of "helping funds" for the stock base ranges from about 2% to 4%, while the debt base is halved to about 1% to 2%. In addition, if the "help fund" is at a loss, the fund company needs to redeem it just now.
Why do regulators target "help funds"?
In recent years, the overall sentiment in the equity market is depressed, which to a certain extent affects the progress of private placement. Data from the private placement network show that as of April 30, a total of 513 private equity firms have filed a total of 797 private equity products, an increase of 50% over the previous month.Slotsthatpayrealmoneywithnodeposit.66%. In April last year, there were 3705 new private equity funds. In just one year, it directly shrunk by 78%!
When the market is in the doldrums, fund raising is relatively difficult, and it has become an open secret for the industry to find "help funds" to help secretly.
For instance. In March this year, 10 CSI A50ETF were listed for trading. However, the shares of these 10 products were significantly redeemed on the first day of listing, and the total share of 10 CSI A50ETF listed on the stock market was 165.Slotsthatpayrealmoneywithnodeposit.32 billion shares, with a net redemption of 3.025 billion on the first day of listing, with a net outflow of 18.30% of the share. Even Yinhua A50ETF's first-day share fell by 548 million to 28.69 per cent of redemptions.
Eager to sell on the first day of listing, most of them are "helping funds". The rapid withdrawal of KPI after the completion of the "help funds" may cause the net value of the fund to rise or fall abnormally, and only ordinary people can be victimized in the end.
Open their list of top ten holders of initial public offerings, Ruitian, Yingshui, Xuanyuan and other 10 billion private offerings emerged. I am not sure whether these private placements are channels to help with funds, self-allocation, or quantitative ETF arbitrage, but the first day of redemption is so huge that there is still a long way to go to create an industry ecology of "light IPO and heavy holding".
To say the least, even after finding money to help successfully launch the product, private equity still faces challenges. After the rapid expansion of the scale, the problems of relative shortage of talents and relatively weak ability to invest in research are coming, and the phenomenon of "more than one delay" of private equity fund managers follows.
Take the forest garden investment of forest garden management as an example, which is called "folk stock god". Before 2020, the forest garden investment management fund is less than 60, the product performance is not bad, many products can reach 15% Murray 20% or so on an annual basis. Starting from 2020, the forest park began to make a large number of new products, and by the end of the first quarter of this year, there were 261 products in operation. The current fund manager of Lin Yuan Investment is only 5! Those funds, whose net worth is nearly halved, are set up around the third quarter of 2021.
In fact, performance and scale are the foundation of private placement. Compared with public offering funds, the sales channels of private equity funds are relatively limited, and if they want to grow big, they can only rely on multiple products to achieve. However, the talent reserve can not keep up with the pace of scale expansion, which is destined to be a tragedy. If you compare managing fund products to raising children, do you think you can manage it if you have more than a dozen children alone?
In 2024, private equity funds will usher in the year of supervision, and the darkest moment in the industry will come again! In the future, more private equity managers or private equity fund products will enter the "countdown to life"!
A reminder here, those problems of private placement, often have these characteristics, pay attention to lightning protection!
① earnings are stable to abnormal, and low pullback
The underlying assets of ② are invested in the new third board stocks with less liquidity.
The proportion of ③ fund manager and licensee equity is low.
④ promises excessive "fixed income"
