A shares and Yin fall break private placement of new shares to fund one meter sunshine

Securities Times reporter Yu Zijun since April, the a-share market fell falls over, shares break frequently. In a gloomy market when private placement seems to have become a weak one meter sunshine in the city, will be lifted by the end of June generally limited share company brought good income of the Fund.
Worth mentioning is that ban hang in groups of a few days ago (600,252, unit) for floating surplus fund company is to achieve a double. Wind statistics show that by the end of June, a total of 6 year limited unit coming to implementing private placement stocks lifted. Fund participation of NSU and the diving medical (002223, unit) the private placement, the 2 stocks limited shares were also lifted, 24th and 28th of the month. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends specific view, new sea Yi last year on June 11 implementation directed issuance, issuance price for 15.11 Yuan, the unit network Xia placing results display, Huaxia Fund was distribution 3.56 million unit, ended yesterday, the unit complex right Hou closing for 19.37 Yuan, rose has 28.19%, and over index only rose 3.27%; diving medical last year on June 17 implementation directed issuance, issuance price for 32 Yuan, under the unit network Xia placing results display, country cast Swiss silver Fund was distribution has 1 million unit.
As of yesterday, the unit complex right after the closing of the $ 37.89, up 18.41%. Worth noting is that these 2 stocks is not to bring float to fund surplus stock of up to, lifted a few days ago in constant group as a floating profit of the Fund to achieve a double. Constant Group on June 10 last year in implementing private placement rights issue price is $ 31.85, according to the results of placing under the unit mesh display, Huaxia Fund and China Merchants Fund has allocated 6 million units. The unit on June 10 the ban, lifted the day after the right of the unit complex for 66.6 per cent, rising by as much as 109.11%.
Not only that, the unit limited shares lifted a week later, thrown on June 17 2010 Provident Fund converted into share capital distribution of profits and capital programme, every 10 sent to 5.5 units converted 4.5 shares were $ 0.65 in cash dividends, if Chinese and Chinese business 2 fund companies lifted day did not sell a constant in the group, benefits will be more.
Fund industry believes that last year the a-share market has undergone 2 major adjustment, partially implementing private placement of shares in the stock market last year peak current safety mats have been thin, if stock markets also see improvement, participation of the private placement agency is likely to experience a lock also faced the dilemma of losses after a year. End page to join the body

Fund company executive beat Asian rivals trader Fund relatively resilient

Securities Times reporter Zhu Jingfeng Deputy General Manager of the company in charge of the investments of the Fund, in existence for many years in the stock market, stock market this year cases of recurrent shocks, they beat Asian rivals, statistics show that since the beginning of this year, executives in charge of the Fund as a whole, more resilient, shows good wind-control ability. According to publicly available information shows that at present more than more than 60 fund company, Deputy General Manager of the total of 25 with competent investment, these most of VP's practice time is longer, investment experience, past performance is better. In these 25 managers, Deputy General Manager of the investment, currently has 15 of administering the Fund, managed a total of 22 stocks Fund (of which 1 is only to set up this year), the most famous is Deputy General Manager Wang yawei Huaxia Fund he managed the Chinese market and Chinese strategy of two mixed fund, excellent past performance. In addition, Vice President Lu Wenjun YINHUA Fund is currently in charge of the Fund up to executives, manage both YINHUA core value optimization (519,001, funds), Yinhua harmonious theme (180,018, Fund) and grow YINHUA 3 funds. Lion Fund to fund Vice President Yang Gu, Jianxin, Deputy General Manager Wang Xinyan silver Fund Deputy Executive President Yu Daixi and Xinhua Wang Weidong, Deputy General Manager of the Fund are also manages two funds. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends these executives were helm of fund this year performance well. According to statistics, as of Monday, who managed 21 unit of net value of fund units this year by an average of 10.27%, significantly lower than the same period average decrease of 12.62% active bonus. Notably Wang yawei Huaxia policy management and selection of Chinese most resilient, two of the net value of fund units this year respectively and 2.92%, only, is the one this year is less than the market's decline in the Fund (8.1%, CSI 300 index fell during the same period).
In addition, Fu Tong Chen Hong, Deputy General Manager, Sea Sea-Fortis management selected (519,011, funds), the long letter the Deputy General Manager Fu Yong long Jin Li of the management of (519,995, funds), Xinhua Xinhua Wang Weidong, Deputy General Manager of the Fund management of growth, rich rich Tianyi Ge Chen, Deputy General Manager in charge of the Fund (100,020, Fund) declines are less than the CSI 300 index. Analysts believe that the trader Fund senior executives better is not surprising that most of these executives has extensive experience in investment, have fought many battles. Fu Tong Chen Hong, Deputy General Manager, Sea Sea since the beginning of July 2003 on the management of Fortis compilations has been almost 8 years, is the Management Fund Manager of the single longest-standing fund.
Teda Manulife Teda featured Deputy Liu qingshan management Vice President, Wells Fargo Funds Management rich Tianyi Ge Chen also more than 7 years and 6 years, Chinese Vice President Wang yawei, Boshi Fund Vice President Yang Rui, HSBC, Jin, Deputy General Lam Leung Leung, is the longest-standing fund industry a number of fund managers.
Also, also has more rich investment experience of non-executives investment Director were (including investment management Department General Manager) this year yilai overall performance also more anti-fell, according to statistics, by 27 bit investment Director management of 30 only partial unit Fund this year yilai units net average fell 10.89%, which Peng China Fund Investment Management Department General Manager Cheng Shijie management of Peng China value made 1.74% of are proceeds, letter up o silver investment director Wang Zhan strong management of letter up o silver leading growth (610,001, Fund 's), and Oriental fund investment Director Pang SA fuck disc of Oriental featured (400,003, Fund 's), and GF fund investment Director Yi Yangfang helm of GF poly Feng (270,005, Fund 's), fund performance also very anti-fell. End page to join the body

Fund sales institutions acce31 to relax

This newspaper (reporter Ao Xiaobo) China Securities Regulatory Commission published yesterday afternoon that the sales of securities investment fund management (revised version) (hereinafter referred to as the way), will come into effect on October 1 this year.
New ways to relax the entry qualifications of Fund sales institutions, increased Fund selling "value added service" content, standardized the Fund sales payment. Revision: explicitly legal nature of the means of settlement funds for Fund sales clearly sales agency-related obligations of the Fund, and no unit or individual to misappropriation of funds settlement funds for sale in any form; relevant institutions when the bankruptcy or liquidation, Fund sales settlement funds do not belong to the bankruptcy or liquidation of the assets.
Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends also, because in practice in the exists fund management people and fund sales institutions part responsibilities not clear, and rights obligations not and so on problem, caused on fund investors service absence, investors legitimate rights and interests cannot get is good protection, approach under on both core rights obligations for has provisions, further clear has both of statutory responsibility.
Amendment II: adjust the entry qualifications of Fund sales institutions the way organization of Fund sales institutions to relax as a form of limited liability companies or partnerships; investor relaxed to have funds, securities or other financial professional individual contributors of related work experience; will have the minimum qualifications of personnel of the Fund number from 10 to 30 people people. Amendment III: clearance sale Fund of the measures on foreign-funded banks foreign banks to sell funds have also been released. Responsible persons of relevant departments of the SFC said, according to the third round of economic dialogue under the framework of Sino-US strategic and economic dialogue results, allow qualified foreign legal-person banks in China in the case of conformity with the relevant prudential requirements, along with its local banks in the mutual fund distribution to enjoy the same rights.
Therefore, the application of Fund sales institutions commercial banks including foreign legal-person banks in China. Amendment: according to encourage service innovation, to encourage sales and service innovation, guide and promote diversity Fund sales institutions, professional and marketing services with high added value, in the way of new value added service fees, encouraging sales agencies in accordance with the principle of consistent quality and price of, improving the quality of services to the fund investors. Also provides value-added services should follow the principles and means of receipt, clearly the rights of investors choose.

Fund acce30 to third party sales conditions relaxed

Shenzhen Special Zone daily news (reporter Wang Xin) released yesterday by the China Securities Regulatory Commission of the measures for administration of securities investment fund sales (revised version), and will be implemented from October 1 this year.
The way to relax the entry qualifications of Fund sales institutions, third-party channels, major domestic portals field of forces is expected to enter the Fund sales, fund distribution channels now alone against the changes in the pattern of the Bank. Revised adjusted the sales conditions of access to professional bodies of the Fund, will form a relaxation as a form of limited liability companies or partnerships; investor relaxed to have funds, securities or other financial professional individual contributors of related work experience; will have the minimum qualifications of personnel of the Fund from 30 people relaxed to 10 people. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends under SFC previously announced of sought views, allows meet professional qualification of personal founded Fund sales institutions, registered capital from 20 million Xia drops to 5 million.
But the new approach eventually into a "registered capital or capital of not less than 20 million RMB". It is understood that, as a third-party sales organizations of the Fund, in addition to regulations allow, you also need third-party payment of licence issued by the Central Bank and the sale of securities issued by a third party licence. 27 third party payment enterprises access to Central Bank last month issued a licence, many enterprises are interested in positive sales licence applicants to third parties. After Fund Ministry said Hong Lei, Deputy Director of the SFC, issued to third-party sales licence is based on sales management of the Fund was formally promulgated. As the way in yesterday's introduction of funds issued official third-party sales licence has apparently cleared the last obstacle.
Currently, the payment of enterprises, including PayPal and caifutong, as an important area of business development for the future Fund sales.
The industry believes that this approach encourages third-party payment institutions compete with the gradual formation of the banking system, better able to increase sales and service, 100-200 may occur within the next two or three years professional sales organization, to fund a third-party sales into the "warring". End page to join the body

Fund examination 99% base lo27 last year, merit based shadowed insurance exce27

There are seven trading days, the Fund "during the final exam" will have ended, but huge losses of the Fund is a foregone conclusion!
Wind information and statistics show that before 2011 405 active unit Fund set up in the 1% this year, only to achieve a positive return; losses than cent of Fund share is as high as 10%. In addition, the Fund rankings once again greatly "face", in addition to Wang yawei's performance is relatively stable, outstanding funds last year medium-term can't escape the fate of the bottom. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends 99% of active partial unit type fund losses first half of will passed, 2011 Fund compete for match has ran has half Cheng has, however Fund cross up of but is a copies bleak of transcripts. Only 1%-active unit of the Fund to achieve a positive return, only with the highest rate of 3.1% almost 99% of active stock-fund losses occurred, in which losses than cent of Fund share is as high as 10%.
Equity funds since the beginning of this year average losses of 12.02%, and 10.67% of hybrid funds included in the statistics the average losses. The Wind information and statistics show, as of June 21, 2011-previously active unit of the establishment of the Fund (including stock and mixed-type Fund) there were 405, but achieving positive returns only 4.
Penghua value yields topped with 3.1%, Lung Yuan industry topics, in the South to the great wall brand, when Bo theme implementation, 1.83%, 0.87% return respectively. Losses in this year, however, the active unit funds more than 400 pieces, total nearly 99% which a loss of more than 10% of 257, total up to 63%. YINHUA domestic demand losses are the most powerful, 26.3% since this year, followed by China Everbright and small-cap and Thailand and the high quality of life (290,004, funds), respectively, 25.55% per cent of the losses came in partial unit funds countdown dier、sanming active.
Join the leveraged Fund investigation, sdic UBS raifu enterprising for the loss of most of the Fund, to 29.29% the current decreases.
New this year, with comparable data for 20 active stocks in the Fund, only built and mutually beneficial grading classification of robust and beneficial theme built achieved positive returns (yield and 0.8% only), all remaining 18 divisions. Bond funds, grabbed the championship due to continued turbulence in the market this year, with "financial safe haven," said Bond Fund also suffered, but compared with equity funds, bond funds this year overall outperform a shares Fund. As of now, over more than 700 funds of all types (grading Fund separate checks and does not include 2011 that the new Fund), champion of the seat occupied by bond funds. Wind information and statistics show that as of June 21, huili aggressive earnings 3.96% in rich countries, ranking first of all funds.
Over more than 700 in the Fund, with 65 to achieve positive returns, of which nearly 50 Bond Fund. According to the wind information and statistics, as of June 21 155 open bond fund year into statistical average earnings-1.28% reference to performance in previous years, debt is based one of the worst first half in the first half of this year. First half of 2008, average income of the debt-based-0.2%, 1.22%, respectively.
Nevertheless, the bond fund was also overall outperform equity funds. Countdown champion Sun Jianbo ranking last year, in fact, in the public placement fund industry, in addition to Wang yawei results more stable, basically a year earlier, the top funds, to the next year is likely to become the bottom. And shock in the market this year, this phenomenon is particularly evident. Fund ranking Dan Dawei face, Fund list of the top ten last year, the current trace could not be found.
In addition to Wang yawei's performance is relatively stable, remaining some outstanding Fund last year, can't escape the fate of the bottom of this year.
For example, last year's champion Sun Jianbo, in charge of the flourishing growth of China (630,002, Fund) to 37.77% yields firmly held the first throne, but this year, Chinese merchants of peace and prosperity (630,002, funds) 13.62% growth losses, losses more than the average of equity funds, sadly falling into the latter stages of a ranking.
Chinese business news under the other funds to China last year to 24.64% yields ranked 7th, however losses this year by as much as 20.43%, is left more than 160 pieces of mixed-type fund second from. Last year's runner-up Galaxy optimization industry (519,670, funds), are rapidly reduced this year, as of now lost 17.07%, after in equity funds to the 10% location.
Harvest the growth and harvest quality enterprises (070099, funds), 4th and 11th respectively last year, then this year's rankings are very bottom, which grow harvest losses 14.26%, only to the Fund in more than 120 representatives of mixed type. Wang yawei to be in charge of Chinese policy and Chinese market, ranking into the top ten last year, although the performance this year has slipped, but the ranking is relatively stable.
China policy and the Chinese market at present losses, 1.75%, respectively, in a mixed-type Fund to the 8th, and 12th respectively. End page to join the body

SFC release of 5 new funds

This newspaper (reporter Ao Xiaobo) reporters yesterday was informed that, at a time when stock index satisfaction around 2,600 points, the SFC set release of a number of new products to raise again. Fortune SGAM including China "quantitative hedge" specialized households products, new trends of New Zealand Silver mixed fund, penghua Fund szse private ETF and join, harvest szse fundamental 120ETF and join the Fund, the days treatment growth stock fund.
This new fund raising will no doubt be to inject new blood into the market. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends reporter note to, new was batch of Fund style vary. Approved as the new product only "one to many" product, Fortune SGAM launched the "quantitative hedge" special product is the use of quantitative stock selection strategies and stock index futures financial tools, products with market neutral strategies, hedging using stock index futures market system risk, the pursuit of steady absolute returns. The product will use on the one hand China Fortune SGAM quantitative stock selection model of quantitative investment research and development team for many years constructing equity portfolio aimed at stability of excess gains beyond the CSI 300 index; on the other hand will take the stock index futures investment strategy, using the CSI 300 index futures contracts to completely hedge the equity portfolio operations, avoiding systemic risk in the market.　　It can be said that low volatility and high stability are the key features of the product. New trends of New Zealand Silver mixed fund investment tools will adopt a new iFlow (capital wind vane). IFlow real-time statistics between funds in the regional markets (markets of the Asia-Pacific markets, including China), various capital market (shares, bonds, foreign exchange, etc) flow of data.　　Using this data, style conversion of prejudging on the a-share market, stock and bond ratio adjustment provides reference. Harvest szse fundamentals 120ETF to track the index of Shenzhen stock fundamentals 120 as the principle, take full copy building funds portfolio.　　Harvest fundamentals 120ETF join funds primarily through investment in Shenzhen Shenzhen fundamentals of 120ETF to achieve the performance baseline and track, sought to obtain similar target ETF tracking index and average yields, meet the needs of diversified investment fund investors.
Penghua Fund szse private ETF and join, under construction in Shanghai and Shenzhen to "private enterprise" bridge theme ETF product line, first in Shanghai and Shenzhen in the ETF products in the linkage, and created a precedent. End page to join the body

Trust Fund equity auction premium 223% the Bohai Sea in the East winner

style="BORDER-RIGHT: #000 1px solid; BORDER-TOP: #000 1px solid; MARGIN: 4px; BORDER-LEFT: #000 1px solid;
BORDER-BOTTOM:#000 1px solid"alt=Phototex/for src="http://img.hexun.com/2011-06-23/130803299.jpg"align=middle border=1>Phototex/for securities Times reporter Sun Yu 31 minutes, 65 rounds of bidding, sticker price of $ 39.6 million oriental fund management 18% stock transfer, final to hammer premium rate up to 223% yesterday, Bohai Sea international Trustees Limited ultimate success "hold a beauty". "It was crazy! "Face of the record auction price 223% premium rate, up to $, even has the option to purchase fund old fai shareholder countries in the East Hanover (Holdings) limited, only hands without color, do nothing. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends "halfway through the killed out Cheng bite gold" previously, Shanghai City cast holding (600,649, unit 's) company limited Yu Shanghai joint property exchange open listed, transfer Oriental Fund 18% of equity, pricing 39.6 million Yuan. Upon completion of transfer, investment and fund holdings will completely exit the East of Shanghai City.
On June 22, East 18% stock right transfer project of the Fund collected more than 7 transferee of intentions, and in accordance with the assignee provided by bidding to determine the final intent.
Public information display, city investment fund Department of the East's second-largest shareholder, three other large shareholders are: Northeast securities (000686, stock) Corporation holds 46% shares, Hui hua industrial (Group) Ltd 18% shares, holdings of State-owned assets operation Ltd holds a 18% in Hebei province. Securities Times reporter was informed that, yesterday, the East 18% the stock transfer of the Fund, attracted, including trusts, private equity, securities firms, listed companies 7 transferee of intention to participate in auctions.
These 7 transferee of intent include: Hui State in old Northeast securities and shareholders of the Fund of the East Hanover joint composed of transferee, and Anhui Yuan trust limited liability company, Black Peony (600,510, unit) (Group) limited, three-cell group, Beijing niusente investment limited, Bohai Sea international Trustees Limited.
Reporter see, from bidding began, private investment company Beijing niusente on show out potential in will of attitude, to each increases 900,000 yuan of range tightly bite, in dozens of wheel of fierce bidding in the, continuous defeated Northeast securities and in the FAI country China industrial composition of joint by let party, and Anhui country Yuan trust, and Black Peony (Group) company limited, and three cell group, strength strong of competition opponent.
However, in auctions when drawing to a close, it "banlushachugechengyaojin" International Trust Ltd for every fare increase of $ 4.5 million in the Bohai Sea big, final price of $ 127.8 million, premium, Beijing niusente to higher price of $ 900,000, Oriental 18% per cent of the Fund. Scarce channel "company licence is still scarce resources of the Fund. Launched a new fund companies threshold higher, and started from scratch under the current market environment is also not easy. In contrast, some naturally easy to fund company of the size of a good standard for racing to actively participating in the market.
"Analysis of market participants. Data show that after silver Shanghai Shanghai Zhonghua certified public accountants audit's annual report shows that in 2009, Oriental gross revenue of the Fund for $ 154 million, operating profit to $ 40.25 million, net profit of $ 28.85 million.
Based on the assets evaluation limited company Shanghai Lixin of the assessment results, total assets of the Fund is now in the East for $ 147 million, liabilities totalled $ 16.89 million and net assets of $ 130 million. Is of concern, the final bid was private trust between Beijing niusente investment company, and the Bohai Sea, and whether private direct equity participation in public-fund there are no clearly defined.
But so far, listed companies, unlisted State-owned enterprises and enterprises participating fund companies.
Latest message display, in securities investment fund method (Amendment draft) under (sought views draft) in the, supervision sector will appropriate relax fund management company shareholders qualification conditions, promote professional persons shares fund company pilot, rich fund management company holding structure, research exploration partnership system, gradually reduce public raised Fund of access standard, allows management specification, and performance fine of non-public raised institutions application public raised Fund Management qualification. End page to join the body

New base in the second quarter of fundraising 34.7 billion to be established at the end speedy intervention

Securities Times reporter Du Zhixin despite recent Fund extend only to raise more, but as of June 21, the second quarter of this year has 28 unit-a new fund set up, total funds raised $ 34.79 billion.
It is understood that when establishing a stock market bottom, this ammunition firing the stock market of more than 30 billion dollars. Wind statistics, as of June 21, contains a join, Fund, has 28 in the second quarter of this year-only partial unit establishment of new Fund, total funds raised $ 34.79 billion. On April 22 upgrade huaan Fund set up by the largest amount of funds raised, up to $ 4.12 billion, founded on April 12, silver Agricole CSI 300 fund raising funds reached $ 3.3 billion, founded on May 31, harvest-leading growth fund raising $ 2.77 billion. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends entered June, shares market adjustment, by this effect, partial unit type new Fund issued encountered has difficulties, apart from large into and Peng China of new Fund issued situation still better zhiwai, other new fund raised funds are is less than 1 billion yuan.
Founded on June 14, the great domestic demand raising $ 1.43 billion, founded on June 15, Peng Hua 1.36 billion yuan in new industries to raise funds.
Shenzhen a fund company's Marketing Department said recent Fund distributors is not good enough, on the one hand and the relationship between stock market consolidation, on the other hand, also in June, Bank examination requested by the late in order to, in deposits, release affected by this new Fund is larger. Net value of fund data also show that most of the unit Fund set up in the second quarter jiancang compare carefully. Specifically, Lion SSE emerging industries when ETF funds, and join the blog optimization, full Green excellence, Novo Nordisk, Damo factor, zheshang ju Chao, Chinese business value, near the new funds are still in the $ 1 denomination, which side these new funds, from stock positions is relatively low, had managed to steer clear of the market adjustment.
However, Wah Fu quantum vitality, silver Agricole CSI 300, sea-Fortis SSE aperiodic ETF Fund positions are relatively high, these funds currently have some of the losses. End page to join the body

Initiator private big brothers Li Chi, plunge in the reduction of the wine or quilt cover Yi Chang shares

Yi Chang shares (002420 shares) can be very depressing investors recently, because the company's share price tumbling frequency is in the near future, and short of the main power is also the sponsor of the company. Shares do not give the force not only, performance of the company growth also have plunged.
Secret Tung also admitted the company this year will be the company difficult year. Reduction of sponsors caused collapse on June 20, baptized collapse in Yi Chang shares suffered, tumbling 9.79% throughout the day, trading volume soared to 5.4722 million units, but finished short also seems to be no catharsis, June 21-Yi Chang shares continued falling 3.73%. Notice is then displayed, its instigator is the two sponsors of the shareholders of the company.
Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends under company bulletin, on June 17, company sponsors shareholders Yuan Yan through bulk transactions reduction has 2.005 million unit, then of disk access party is GF securities (000776, unit 's) Guangzhou Huangpu Avenue Sales Department, reduction Hou Yuan Yan holding number for 20.035 million unit, accounted for total equity of 4.996%, Yuan Yan also said in future 12 months within still has may continues to reduction. Company secret Tung Yang Huan told reporters, another shareholder battle wing there is a reduction of the company occurred on June 7, before the reduction of its 4 million shares, has completely emerged after reducing when disk access is haitong securities (600,837, unit) sea dragons-Kunming Business Department of North Road.
Data show that war reduction of Ying and Yuan Yan shares are limited from June 2 lifted stocks, Lee is also one of the sponsors.
June 20 Exchange one spy too many shows, with the Yang Huan and Yuan Yan after throwing chips, the two sales department immediately in the secondary market together to sell $ 40.88 million, $ 50.18 million of three per cent of the unit on the day the total turnover.
For the slump, Yang Huan said this is the normal market behavior, according to their claims, due to Yi Chang shares daily trading volume is not large, in June 7 deals, reduction of disk access may not finish, but later learned that another reduction of shareholders, has speeded up the cash movements.
According to Yi Chang shares prices in the near future, warfare wing watch less than four years, earned $ 32.68 million 4 million costs, yields as high as 817%. Outside of the established private sets reduction of shareholders, company performance shrink the growth rate is obvious. Data shows that Yi Chang shares 2009 net income up 71.67% 2010 net profit increase of just 12.11%;-63.62% net profit growth rate in the first quarter of this year.
For the rapid decline in the performance of, Yang Huan said Yu Yichang shares this year was a difficult year, high prices of raw materials on the one hand, on the slower growth in the lower, let the company's gross profit margins are squeezed. Poor fundamentals also makes private equity was "injured". Last year, when the company had just listed, private was once very bullish on Yi Chang shares. One quarter display, Yi Chang shares with Wei in the circulation of ten shareholder value added 4 issues and private equity funds such as melting gold, 3rd, in the moving in of three quarters of last year. But as of yesterday closed, prices of $ 8.78 32.41% lower than three quarters of last year the average price of $ 12.99. Worth mentioning is that with Granville value-added 4 issues headed by established private Li Chi, he was known as China's "copy Buffett" one of the most successful investors. Data show that with Granville value-added phase 4 was established in July 2010, if the same via private placement has yet to stake out, fear has become a "human". End page to join the body of the daily economic news

Public placement Fund man shortage

Turnover surges to upgrade again, reflects a core of human capital's public placement fund industry system of Tang Yating dull pain journalists on June 16, Cheng Baoliang leave investment fund for 8 long years of service, chaired by the Deputy General Manager Yang Yidai, General Manager of its duties.
Meanwhile, news that the incumbent League General Manager Xu Xiaosong final departure. The financial and economic state weekly journalist according to company announcements and statistics, this year, has 23 industry executive changes, among 19 firms.
Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends de Saint Fund Research Center Jiang Saichun think, once executives and Fund Manager of frequently changes formation a negative industry effect, will is on fund investors maximum of hurt. Public information displays, the end of 2007, 59 in China Fund company's total share of the Fund up to 2.23 trillion, total size of nearly $ 3 trillion of assets under management.
End of 2010, the China Fund company increased to 63, the 2.29 trillion of the total share of the Fund management, assets under management total size dropped to $ 2.44 trillion.
Analysts noted that the fund industry turnover surges again to upgrade, perhaps reflects human as core capital to dull pain public placement fund industry. Fund for small and medium pressure on June 16, China Merchants Fund release announcement, from the preparatory stage has joined the company of the departure of General Manager Cheng Baoliang on June 14. Alleged that it will become a major preparation for Shanghai power Investment Co Ltd, the company is international group in accordance with the policies established in Shanghai, Shanghai industrial investment fund.
At this point, stick to public placement fund industry veteran stage character is running out.
As a Fund in the first Sino-foreign joint venture company in China, China Merchants Fund was established in late 2002 has been 8 years, with social insurance, annuity, spot management accounts, management of the QDII qualified, was earlier licensing company in the industry, under which there are currently 17 open Fund. "Cheng Baoliang was a fusion of Chinese and Western cultural fund, and this is also the Investment Fund since its inception in 2003 despite the friction between Chinese and foreign shareholders, but always resolve the reason. "Shenzhen one fund analysts noted," this also means, sandwiched between Chinese and foreign shareholders of Cheng Baoliang as you want to have big, difficult. "The Department funds in a bank in the company, offering assets of investment funds ranking even worse than weak, postal funds in incompetence of a licence. Investment assets of the Fund as at the first quarter of 2011 but 39.04 billion yuan, only rows in the middle levels of the industry.
Compared with other joint-venture firms, top international, yinruixin, and the Bank Schroders Fund established after the company, whether it is in size on brand awareness, already far exceed investment fund. Galaxy securities funds Research Center researcher Wang Qunhang believes that "this round of Executive General Manager of the particular adjustments occur in small and medium-sized fund companies, these companies are mostly moderate performance in past years, slow growth of the scale, and its shareholders for the performance of the company's expectations are relatively short and relatively high. When shareholders lose confidence when you want to replace the executives to find growth. "On March 4, released on Vanguard fund notice of change of senior managers, Board Chairman and General Manager of both substitution.
Bulletin shows that Vanguard fund original Sun Guomao, Chairman and General Manager Li Zhenwei due to the departure of expiry on March 4, filled by Qi Lu securities financial principal Bi Yuguo, Chairman, former Deputy General Manager Yang Feng as General Manager.
The national weekly financial journalists to check their Vanguard fund performance found that 2010 in addition to bond funds achieved good returns, Fund of equity funds and mixed funds all losses. In addition, country General Manager Jin Zhefei ladies retiring sea Franklin announced on May 4 announcement. Data show that sent Jin Zhefei was affected by the foreign shareholder, airborne sea Franklin Fund in 2008. "Although the Jin Zhefei sea Franklin for the country to build a set of near-perfect wind control system, but she's three years in Office, expansion of the company is not significant.
"According to Wind data, Jin Zhefei in three years, release 5 new products, total share of the Fund has risen by 720 million and assets of the company lost $ 9.6 billion. "In recent years while the new fund offering, but no obvious change the total. Under this situation in the industry, small and medium firms not much advantage in brand strength, reflected at the level of company management, executives of pressure is relatively large.
"Good buying Fund Research Center pointed out China, with the lower profitability of the Fund, Fund for small and medium-sized company size and performance cannot be effectively promoted is one of the reasons for forced departure of Fund executives. 2011 Fund Quarterly Bulletin shows that top fund management scale of up to 1. $ 16 trillion, accounting for public placement fund industry share amounted to 48%, industry resources to large fund companies focus, Fund for small and medium-sized companies survive further compressed.
In the fierce competition, some companies have been made at the level of strategic adjustment thinking.
Effects of changes in equity other than poor performance, scale and sluggish foreign shareholders fund company central figure changes caused by power struggle is also one of the important reasons. For Shen Wanling fund company, whose turnover is expected back in the outside world May 4 Mao Jianming, General Manager. 2010 BNP Paribas Asset Management limited foreign shareholder equity transfer agreement with Mitsubishi UFJ Trust and Banking Corporation, held by 33% per cent of all transfers.
Subsequently, Shen Wan Paris was renamed Shen Wanling Fund.
BNP Paribas Asset Management due to Mao Jianming comes from the original shareholders, therefore, the industry believes that this handsome lift is a matter of changing things. "Shareholders break up is the causeDirect causes of Shen Wan for handsome. "There are for people familiar with reporters, both as shareholder in a large number of differences on the issue, since the former General Manager of the representatives of France, Tang Ximing in 2007 after the resignation, square basically has given up by a scramble for right to manage, and then took over as Mao Jianming," main job was to walk the signing process.
"According to Wind data, under Mao Jianming, Shen Wanling released 6 new products only, but the company's total shares down 2.69 billion, assets shrink by $ 3.89 billion. "Joint venture fund management companies are facing such problems, many companies have foreign shareholders seems very powerful, but the presence of general managers a lot of qualifications, particularly in the face of emerging at a time when the a-share market, they called the management investment experience can effectively be a question mark.
"Anbang consulting researcher said.
Equity change is sometimes inevitable, how to cope with the resulting brain drain in the core issues, the fund company was a major test. "Man shortage" joint behind huatai securities research report shows, from 2003-2011, cumulative change 752 public placement fund industry executives, Fund Manager cumulative change of 1269. And this total is over more than 2000 people behind the change, is a large number of public-fund trained personnel, are fast flow to private equity and other securities investment institutions.
At present, the public-fund investment Director for 60% and 80%, General Manager of the average tenure of less than 4 years. "Development of the entire fund industry over a dozen years, experienced industry bottlenecks, size of company development space is limited, difficult to achieve a breakthrough on the operation. "Zhong Lu and fund analysts, Research Center," Meanwhile, fund companies present on the system design constraints, equity incentive cannot be achieved, this private or other, and the industry formed a larger gap, General Manager of the Fund have the right opportunity to interest more dahua industry or company, private equity, PE and VC funds mainly to company executives.
"Observation and public placement fund industry rankings of top companies, if there's any similarities, then, that is, there is a practice leader more than 10 years of soul and a stable core team. "Facts have proven that the blind pursuit of mutual constraints, performance scale, shareholder management revolving scenic Lantern-like replacement of the company was doomed not to be an excellent company. "A fund analysts pointed out that the" Star Fund Manager is offering a sharp object, but the good of the fortress is treasure. Development of the industry for more than 10 years, talent dilemma has become a matter of urgency, public placement fund industry have to collective reflection. "

Fund third party sales October gate opening

Reporter Du Min yesterday, the Commission released the revised its official website, of the measures for administration of securities investment fund sales, and is scheduled to come into effect on October 1. Compared to earlier draft, new measures to relax the entry qualifications of Fund sales institutions and increasing Fund sales "value added service" content. Professional analysis, the introduction of measures, means that third parties, including major domestic portals channels is expected to enter the Fund sales areas, help to solve the problem of Fund channels.
Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends part relax access qualification compared 2004 version and November 2010 publishing of sought views draft, securities investment fund sales management approach under main has three point changes. First, the measures to improve access to qualifications, independent sales organization of the Fund registered capital is adjusted by $ 5 million to $ 20 million. Secondly, the measures to increase the "value added service" content, encouraging sales agencies in accordance with the principle of consistent quality and price of the Fund, improve the quality of services for fund investors and provides value-added services should follow the principles and means of receipt, clearly the rights of investors choose.
In addition, the approach also adjust conditions of access to a professional sales organization of the Fund, will form a relaxation as a form of limited liability companies or partnerships; investor relaxed to have funds, securities or other financial-related work experience in professional and personal investment people; will have the minimum qualifications of personnel of the Fund from 30 people relaxed to 10 people. Third-party sales will attend the current domestic Fund sales channel direct sales of major banks, fund companies and brokerages, which most of the large monopoly State-owned commercial banks Fund sales market.
The procedures for Fund sales institutions access conditions relaxed, making Fund diversified trends in the sales channel. In buy Yang Wenbin, General Manager of the Fund's view, admission qualifications relaxation is expected within two or three years would appear between 100 and 200 professional fund sales institutions, third-party sales will go into the Fund "warring".
This change in fund industry currently "first, the light," "purchase, redemption" sales ills, such as promoting fund company fittest, have relevance.
Expert view conducive to purify short-term fund market although difficult enemy bank brokerage, third-party sales organizations to enter the market, able to compete with the formation of the banking system, increase sales and service, but many experts still concerns about its prospects for development, that third-party sales agencies are also difficult to shake in the short term status of banking channels, the medium term, if third party pure do Fund sales is difficult to achieve profitability. De Santa Fund Research Center Chief Analyst Jiang Saichun said: "sales of gate opening is an important exploration of third party Fund, in the long term might be to break the Bank in which way. However, the exploration of how third-party sales of short-term profit has yet to be public-fund sales charge is too low, large development of small and medium-sized customer base cost is too high. "Show constant financing:" compared to the third party bank brokerage and fund sales, cost and high profit thin, pure Fund sales, short-term profit is difficult. "

Baili electrical undecided i13ue price share price tumbled private valuation is too high

Liu Baoqiang on June 22 the company notice rights issue plan (revision) after fell on that day, June 23, Baili electrical (600,468, unit) (600,468.
SH) opening direct drop to 3 minutes, although rose in the afternoon, but still fell 8.23% throughout the day. "$ 16.39 the price is not the final issue price is only a lower limit of the issuance price range. Specific issue price, has to go through the inquiry can be decided. Explained by this stock price drop do not fly. "EMC Corporation a person investment banking on the business news reporters.
Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends Beijing a assets management company investment manager is on this reporter said, stimulation hundred Lee electrical shares rose of superconducting theme short-term cannot cashed, so shares crash. On June 22, the Baili electric bulletin closed issue a shares stock plan (revision), planning to issue shares in total not more than 65 million shares.
Pricing benchmarks today as Baili electrical notice of resolutions of the fourth session of the 16th session of the Board (July 30, 2010), not below the offering price pricing benchmark 20 trading days before Baili electrical 90% of stock price, namely $ 16.39/unit. Date of announcement, Baili electrical stocks fell. Analysts believe that the cause of the crash in the issuance of pricing too low.
Minimum issuance price 16.39 Yuan, equivalent to only half of the unit's current share price.
Private said Baili electrical this time suddenly fell, does not exclude Agency to sell equity holdings and involvement on the issue, with a lower price to buy back. On June 22 after Baili electrical high, sell orders continued to gush, close will determine the fate fell in the morning, 0.58% exchange rate throughout the day, trading volume of 2.2165 million shares, the turnover of 68.081 million Yuan. From on June 22 Shanghai Securities Exchange announced of transactions seats see, first large sold seats is Fund, sold amount for 10.3039 million Yuan, equivalent about 335,400 unit; second large sold seats is is shenyin wanguo customer assets management Department, sold amount reached 7.3368 million Yuan, equivalent about 238,800 unit; other several large sold seats respectively is in the silver international Shanghai Ouyang road Sales Department, and letter up securities Shanghai tieling road Sales Department, and Ann letter securities Shanghai land home bang road Sales Department.
Coincidence is that the three sold after all seats are located in the Business Department of Shanghai. But the real reason for the company's shares fell, said that private persons, the key is to company valuations were too high, "income less than 1 cent per share last year, even this year, plus an additional factor, nor more than two cents, but the share price now so high, and technological strength of the company generally, this evening is to crash". The private person think, under the present market, such a high valuation, do not fly at all.
On June 23, the Baili electric share price drop destination country after consecutive $ 27.09, 283 times times forward earnings.
Earlier, on April 15 and April 20, Baili electrical one quarter after the results, although lower than expected performance, but Wai Chan, Bohai securities analyst even two reports to highly recommend the Baili electrical and price-see $ 100. However, Wai Chan also believes that does not consider the additional item is expected 2011-2012 earnings per share of the company but for $ 0.15 and $ 0.17.
But she believes the company after the issue is completed, superconductive current limiter project will form the company's core competitiveness, the long term, the company's share price is still a big space, given to the company "highly recommended" rating.
A brokerage head of asset management Department, told reporters in Beijing, the stock early because of the smart grid concept is continued speculation is high, but actually our qualification, early stock prices relatively high.
This company on the issue, intended to raise assets not exceeding $ 1 billion, the amount of investment projects and include: superconducting current limiter project of smart grid, smart grid GIS project, a $ 300 million; electronic transformer of smart grid projects, VW60 of smart grid projects, the $ 100 million; rare metal-processing of $ 200 million.
But after the company's stock price tumbled in a row, has more than $ 1 billion market value losses. End page to join the body

Changchun Wang yawei 440 million for three consecutive quarters of real estate holdings

Reporter Zheng Wang the evening of June 23, Cedar real estate (600,657, unit) (600,657.
SH) notice, company shares of Changchun Cedar Feng real estate development co Ltd (hereinafter referred to as "Changchun Feng Rui Baihui") achieved by delisting "Changchun high-tech zone reservoir project area Army Day", $ 445.75 million contract price. Said, back in August 2010, Cedar real estate plans to participate in the plot of bidding and its wholly-owned subsidiary Xinda gold estates Ltd and Changchun Jilin Feng Rui Baihui real estate development company (hereinafter referred to as "Changchun Feng Rui Baihui") jointly funded the Changchun Cedar Feng Shui. Jilin Xinda home buyers $ 106 million of investment, share ratio is 53%; Chang Chun Feng Rui Baihui funded $ 94 million, share ratio is 47%. Recommended reading · fengji Forum investment real disc week summary
· Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends according to understanding, Changchun High area Army Day reservoir project block "at high-tech development zone, East c 24 Street, West to extraordinary Street, South to c 14 Road, North to high reserves with to, planning with to area 150,617 square, land uses for residential and the commercial served (distribution built" cheap rent housing ") , Assignment span of residential 70 commercial 40 volume rate ≤ 1.5, building density is less than 30%.
Said the company took the plots for layout is of strategic significance in the northeast of the company, and that this plot has a higher development value.
After landing in Cedar real estate capital markets, its only 3 times in the notice, took 2 for cooperation. On December 1, 2009, just borrowing Xinda estate 2 wholly-owned subsidiary of success combined with Shaoxing city building materials limited liability company in Shaoxing Yuecheng District is located in Shaoxing City South line through auction, third block, sold price $ 1.36 billion, Cedar real estate owners interest in the project 61%. Only in Xinjiang alone is $ 21.18 million Gets a piece of residential land.
This can be seen, Xinda estate in the land market input is very cautious.
In addition to this, Cedar real estate had quite a point of concern is the Wang yawei continued to increase its stake.
According to the information displayed, Wang yawei in charge of the Chinese market and Chinese strategy Fund separately in the third quarter of last year to increase its stake in Cedar real estate 11.9601 million, 4.5001 million units, two funds is also broken down to six unit and 15.9601 million shares second place in the unlimited sales conditions of trading stock shareholders and tenth.
To the end of 2010, selected Chinese market is still holding a letter up to real estate 15.9601 million unit, no change; selection of Chinese policies held by Cedar real estate shares increased to 7.0001 million shares, end of the third quarter compared with last year to increase its stake in 2 million shares and shareholders in circulation rose to sixth place. According to the company this year, according to a quarterly, as of March 31, 2011, Chinese market featured featured Cedar real estate shares held by the Fund becomes a 17.0001 million unit, once again, this is during the first quarter of this year, said Wang yawei holdings amounted to 1 million shares of real estate. And this is their 3 consecutive quarter selected overweight Cedar real estate shares.
At this point, Wang yawei helm selected Chinese market and Chinese policy choice Fund at the end of a quarter held Cedar real estate more than 24 million shares, Cedar real estate unlimited disaggregated and sale conditions of trading stock shareholders second and fifth place. End page to join the body

Zhao Xiaoyun jiancang not in a hurry resistance net worth fell by le50 than two months lo50 of almost 15%

Hexun Fund message on June 1, "first Zhuang Tuo"--China poly investment limited, General Manager and Chief Investment Officer Zhao Xiaoyun, in his blog, and the company revealed two Fund NET on the Web.
From the perspective of his smile, first net worth has fallen to $ 85.12, and laugh look at net second also dropped to $ 95.34. From the NET can be seen on the chart, two of the Fund from its inception has been losing money. Smile, first established on April 18, 2011, and laughs, second was founded on May 4, 2011. In less than two months of the time, Zhao Xiaoyun management laugh to see first is losses near 15%, laughs, second set up just one month also had losses of nearly 5%, CSI 300 index has decreased more than the same period. Recommended reading · Fund why also large purchase
· long-term holds Shen million enterprising stability earned inventory over Niu Ji and Xiong Ji General Manager batch left public raised lost most debt base losses star Manager stock market lost hoof Fund positions plus reduction of secret a shares months fell 5.77% Fund preparing for June jiancang was forced flat warehouse number only structure of private May robbery Qiming: shocks city in the how mining Daniel unit Zhao Xiaoyun in May 23 caused by holds people of open letter in the so said: "first, Fund run of early because jiancang more fast, positions more heavy, falls market unilateral fell, led NET fell more fast, on this we deep table apology! Fund positions currently Fund, first, second, less downside risk is limited. "This shows that the Zhao Xiaoyun rush jiancang net worth fell within a month. On May 20, first a smile Fund net worth is $ 87.78, second fund, net EFIF amounted to $ 0.9893.
In this calculation, as of yesterday, in their management of the Fund is still in decline. In the open letter, Zhao Xiaoyun said the terrorist wave c is currently running, dominated by Yin fell for the year 2011, index of 2,319 points of which will be broken. But from the second half of the first half of next year will appear a small level rally and rally a large level.

Fund staged ?t?a counterattack Wang yawei with ranking conceals

Niu Ji leader emerged the secret hold banks not loosely

Every reporter Li Na ten Niu Ji leader last year, almost all "misfire". Statistics show that as of Monday, open Active shares only a penghua Fund value, great wall brand and Oriental Dragon (400,001, Fund) mixed, become the only remaining low hanging fruits of some positive returns of the Fund since the beginning. And individual character of these funds is not prominent on its past performance, and not many brilliant record. However the three funds have a common characteristic: cartridge varieties is dominated by low valuation, especially Bank shares, has been the "unshakable" variety.
Recommended reading · Fund why also large purchase
· long-term holds Shen million enterprising stability earned inventory over Niu Ji and Xiong Ji General Manager batch left public raised lost most debt base losses star Manager stock market lost hoof Fund positions plus reduction of secret a shares months fell 5.77% Fund preparing for June jiancang was forced flat warehouse number only structure of private May robbery Qiming: shocks city in the how mining Daniel unit preference underestimated value varieties in fact, on this three only still adhere to in profit and loss balance line above of Fund,, its scale difference does not small, both Shang baiyifen scale of "big", also has a billion of copies of "little", and are from three home different of fund company.
But that some funds are a common feature: is very preference to underestimate the value of variety, especially on financial stocks are long-term firm hold.
Sort out the different industries in 2011, the market performance, whether it is strong in the early cycle stocks callback substantially in the near future, junior or high valuations and the GEM so far has not stopped falling, only financial became the market's most resilient plates.
From Wind data display, in accordance with the Division of shenyin wanguo 300 industry indices, beginning to Tuesday, household appliances, ferrous metals and financial services of higher class as the only three plates, during which rose, 11.17% and 1.36% respectively. Hold the banks do not loosely penghua value advantage nearly 13 billion in assets, at last "salted fish turn over". From buy Fund statistics show that this old Fund was established in 2006, performance is not a little ups and downs.
In 2010, Peng Hua 13.43% record ranking value advantage to losses after the funds of the same type of one-fourth, and in early 2009 before rising to 80% performance among the ranks of the former one-fourth of the same Fund. Shenzhen brokerages said the Fund's style is very prominent, that is, "fund managers to underestimate the value preference of blue-chip sector is".
Market performance continued to lag behind of blue-chip market last year, market style changes this year, meet the investment direction of the Fund, Fund warehouse varieties are varieties of white horse in some industries.
Based on past penghua value advantages of regular report, the proportion of the Fund's net asset value of investment in the financial sector within the ratio is always maintained in the 20% of the year. China Merchants Bank (600,036, unit) (600,036, $ 13.8 per cent) and Minsheng Bank (600,016, unit) (600,016, $ 5.98 per cent) has been the Fund in recent years Golden heavy stocks. China Unicom (600,050, unit) (600,050, $ 5.63 per cent), also having the same status.
In addition, the Fund has focused on the configuration section home appliance unit, making the Fund in more prominent this year. He Peng Hua value advantage, brand optimization on the banks of the great wall is all the more preferred. Since the Fund was established in 2007 bull market peak, have a greater share of the assets. By the end of a quarter of the year, shares of the Fund is still close to 15 billion.
Maybe it's too big because of great wall brand optimization of investment in the financial sector accounted for more than half of the assets. "Taking into account the mobility factor, funds to buy more stock in financial and insurance industry. In addition, the high concentration of investment in the fund industry, this year are some of the major investment cycle units, configure a few industries with steady growth.
"The above brokerage said. If only from a size point of view, Oriental Dragon operations may be more competitive advantage, because it is a scale of only a billion of "little man". Long before the current Fund Manager Yu Xin takes office, its head has been change to keep, is not a long time of any of the previous reign.
According to buy Fund-related data, their performance, former manager of several funds for a period of return is not ideal, is lower than the average for similar funds. Oriental dragons since 2009, the financial sector is more attention, and is configured on a rising trend. Data show that the end of the first quarter of 2009, Dragon of the East configuration only 25.58% of the financial, insurance. Over the same period and in 2010, financial and insurance industry net assets of the Fund's assets over 30%. The end of 2010, that figure had risen to 40%, late in the first quarter of this year, was up to 45%.

"manuscript statement" without the daily economic news authorized use, offenders.
if you want to reprint or learn more about the highlights, log's official website: http://www.NBD.com.CN

Being forced open structured private placement May number only robbed

Meso-level numerical analysis stock index plummeted in late May, "chengmenshihuo" among affected investors, some private equity may be the first "not able to carry".
By this newspaper, a number of structured private placement-only product is likely to suffer forced unwinding in the near future. Structured private products, sun rise first in Shanghai, in 2007, scenery, in the 2008 bear market, many structured products meet wound up in 2010, these products also usher in issuing small climax. Recent crash, causing many of structured and unstructured private tested again.
Recommended reading · Fund why also large purchase
· long-term holds Shen million enterprising stability earned inventory over Niu Ji and Xiong Ji General Manager batch left public raised lost most debt base losses star Manager stock market lost hoof Fund positions plus reduction of secret a shares months fell 5.77% Fund preparing for June jiancang was forced flat warehouse number only structure of private May robbery Qiming: shocks city in the how mining Daniel Unit 10 only products near wound up line May of last a week, index Xia analysis to 2,700 points, many private products single week NET decreases over 10%. Structured private products, Sun is usually divided into priorities, General two-tier structure, in which priority expectations of investors enjoy the product after the expiration of fixed-income, retail investors enjoy the expected above the fixed income investment income; if a loss, by General Investor funds to ensure the priority of investors for principal and fixed income is expected.
General beneficiary in most cases is a private equity company or Fund Manager himself.
Introduction to private equity ranks of network research fellow Peng Xiaowu, simple to understand, lost light private managers of money, structured products will be wound up. This newspaper informed that currently private products, structured priority beneficiaries and beneficiaries that managers and investors in General, the investment proportion are usually or 1:1, the latter, the majority.
But in fact, many private equity managers will not tolerate their full loss of principal and, therefore, will usually release product agreement liquidation or winding up of the stop line.
It is learned that, funded by 1:1 some structured private products stop lines at 0.8 Yuan, investment product in the ratio of stop loss lines usually in $ 1:2 to $.
According to the statistical data of Wind from the trust company, net announced as of May 27 in the latest week, a total of 10 structured private net worth less than $ 0.85 of the product only, that is, many of which are likely to have reached the stop loss lines. Each of the 10 products are manufactures 4 period, Fu ying, 1th, 2nd, Kunlun, Poly, Changan, 2nd, 6th, and enterprise in Tianjin, 2nd, harvest, 1th, Cheng Shijing robust tiered 1007th, party into a new number, new Spring 1, thaw in 4 of them are concentrated in trusts.
Managers of these products the vast majority are not well-known in the market.
Worth noting is that Manulife 4 issues and has not published in the May 27 with new Springs 1 latest NET, as of May 20, Manulife's net worth is $ 4 to $, 0.8499 is the net value of the new spring phase 1, which had, its net worth are announced weekly.
Manulife 4 issues was established on June 23, 2009, for a period of 2.5 years, priority beneficiaries and beneficiaries of the General principal of the trust is 1.5:1, liquidation plan property standard is $ 0.78; new spring phase 1 was established on May 25, 2010.
A private fund manager in Beijing revealed that the last week of May, and indeed some structured private placement to the stop line, but they may not have been wound up, after all, the current release of a product is expensive, it is possible that these products are forced to open, or sell all shares, supplementary funding the net Manager back in the $ 1 denomination operation again. Winding up or become the norm at present, the Wind private products, statistics on the structure of the column total of 311, 51 of which was established in 2009, 174 was established in 2010.
In 2010, including Shanghai kaishi, Shenzhen Tong Wei, Shanghai Ze hee and other famous sunshine, private equity, structured products issued after 2007, the great bull market ushered in a new wave of small climax.
This year, Shanghai kaishi, freshwater springs, Beijing, Jiangsu Ruihua, bohong few grand more well-known private still issuing structured products. In General, the assurance agreement benefits the better structured products issued, in a good market environment, a private equity company than the preference of the strength of the product.
However a-shares are a real challenge.
Wind data display, May 20-only one week, a total of 27 private equity week of more than 10% only, declined the most 13.49%, and 11 only for structured products.
Including non-structured products, since the beginning of this year a total of 62 private product loss over 20%, 3 product losses of more than 30%, are non-structured products. As of May 27, zhongcai Mingli value, Star, and the first British election NET 1th, 2nd only to $ 0.5594, $ 0.6248, and $.
1 reasons when they published monthly net loss this year in the period 35.53%, the net worth of only $ 51.3 in early May ($ 100 value).
Recently, the market also rumors that some non-structured products also could face liquidation, because many non-structured private placement provides net worth dropped from $ 0.7 to $ shall be wound up line. On May 19, Chengdu private Ding Hong-Yi, Sun investment announcements, to dissolve its only a trust product, exit the current stock market, after Zhao Danyang of active winding up second private placement.
Its net liquidation $ 101.1, listing runs to lose the market for the period 9%.
Buy Fund Research Center said, having heard that it was due to the winding up and channel tensions with assets due to redemption is too small, you can only choose to turn off, but whatever the reason, under the weight of the performance and scale, winding up of a private equity initiative will become the norm in the future. However, private to the average performance for this year-6.51%, but there have been 163 private achieved positive returns, 20 results positive returns of more than 10%, itsLiu Hong bohong directed 2 issues in the management of yield in 37.33%, chongyang, freshwater spring, Suzaku, Jin Zhonghe, minsen and other old private its products still maintain positive returns.

Most bond funds lo40 star Manager of the stock market stumble

Meso-level numerical analysis stock market tumbled, Bond Fund was injured, seemingly absurd, but it is happening. Pressure in the first half of the bond market is still rich investment opportunities, but half of the bond funds this year to negative earnings, especially in the last two years of better products, after most of this year.
Revenue enhancement, including Wah Fu Shen Wanling Tian Yi Bao, rich optimization enhancements such Championship debt outstanding base last year, also when there is a fair old Taurus such as stable value bond based. Success or failure of qianxi "Lurker", it is not more than 20% of interest in such assets investment. The past two years by new or buy shares given excess performance bond fund manager, this year failed to reverse direction in a timely manner.
Recommended reading · Fund why also large purchase
· long-term holds Shen million enterprising stability earned inventory over Niu Ji and Xiong Ji General Manager batch left public raised lost most debt base losses star Manager stock market lost hoof Fund positions plus reduction of secret a shares months fell 5.77% Fund preparing for June jiancang was forced flat warehouse number only structure of private May robbery Qiming: shocks city in the how mining Daniel unit for many scale larger of debt base,, 20% of stock positions seems to has is a only small of stock type Fund, is by no stock research experience of Bond Fund Manager separate management.
Also stock defeated stock in accordance with Galaxy securities funds research center of statistical data, as of June 1, this year level debt based (new) average of only-0.33%, secondary debt based (to play a new secondary market stocks and investment)-0.66%, pure Bond Fund (investment in fixed-income products only) the average revenues of 1.35%.
Bond funds over the years the overall negative income is rare, open primary and secondary debt base is more than a half of the year "laudatory".
At present, after the performance of some bond funds are the Eastern Wu (582,001, Fund) robust, KBC Fengli Jin and Yuan dynasties (620,003, funds), Bo, Wah Fu gains stable value enhancement, Shen Wanling believe it added benefit Po, Tai dual income and mutually beneficial (290,003, funds), Wells Fargo optimization enhanced debt based.
Some of these funds has recently received many inquiries from banking channels dissatisfaction with performance.
Based on Wind data and statistics, a quarter of the year, bond fund stock positions reached an average of 9.59%, Wah Fu gains enhanced optimization enhancements, when Bo, Wells Fargo stable value of the stock positions are more than 18%.
Reporters learned from these companies, it was in the wrong judgment of stock markets at the end of last year, was too bullish on the stock market or a new policy has not changed, making larger losses on such interests in such assets of the Fund, to drag on the net. Base as a level of debt, Wah Fu stable value high when the revenue enhancement, Bo stock positions clear involvement in new shares.
Star Bond Fund Manager Zeng Gang gains enhanced this year to participate in the management of Wah Fu 10 new listings of new.
Statistics show that in 2009 a share average annual rate of close to 20% new, 2010 there were 13%, but this year, has repeatedly break the new stock May break rate of 47% new shares.
Jacson Zeng admits in a quarterly bulletin, due to the higher positions of the new shares of the stock, net suffered large losses, and according to industry researcher's opinion, the new shares of the stock had been combing, retention of the medium-term bullish.
The contract does not stipulate the lock period how long the period of the Fund must sell new shares, therefore, the Fund currently retain the play is full of new varieties of cover.
As a secondary debt-based, KBC Fengli Jin and Yuan dynasties, Thai double income (290,003, Fund) beneficial, optimization enhancements are mainly rich countries suffer heavy stocks, such as KBC Feng Li Jin and Yuan dynasties major growth and domestic demand units are configured, and hot spots in the first quarter, and optimization enhancements and rich countries are also major warehouse on the growth and small-cap stocks.
A bulletin at the same time that Thai letter positions configuration of dual-income and mutually beneficial for the convertible bond up to 50.49%, Soochow letter sound 39.82%.
Beijing said a Bond Fund Manager, Treasury bonds and financial bonds this year earnings are stable, but shares of the convertible bond is very strong, great volatility, if it is in the distribution of the time go debt may get positive return, if it is in the transfer of its listing and buy bonds at present most negative income.
In fact, the Fund last year with good performance, Wah Fu gains enhanced to the level of debt-based champion for two consecutive years, Tian Yi Bao Shen Wanling letter is also level debt-based runner-up last year, Bo stable value is in base level debt ranks sixth in the three-year period of performance. And the Soochow robust debt since the establishment of the base since the end of 2008, after consecutive performance. Galaxy securities data show that similar reciprocal rank fifth in 2009, 2010 countdown eighth performance last in-5.26% this year.
KBC Fengli Jin and Yuan dynasties also had three consecutive years of poor performance.
From the perspective of a quarterly bulletin, Soochow uxin sound just $ 72.6 million, seems to be decisive and stock positions to 0 per cent in the first quarter, but understand that its negative stock investment income is still involvement this year.
Optimizing enhanced performance in rich countries is less stable, as the runner-up of secondary debt base last year, 2009 has similar countdown third.
Add stock fund managers?
At present, many of the biggest Bond Fund's more than $ 4 billion if calculated according to the 20% interests of asset positions, which can be new or shares of investment funds with $ 800 million, and this year many new equity fund has been fairly. Reporter statistics, not only the 22% Bond Fund to have dual-fund managers, mainly to some secondary debt-based, one responsible for equity investments, who is responsible for fixed income investments.
More than this from fund companies understand that only bond fund a Fund Manager, its new stock or investment will seek the views of the equity research department, but the "idea" still need to be on your own.
In the said Fund, Wah Fu gains enhanced scale $ 3.6 billion, rich optimal increase of about $ 2.4 billion, Bo stable value of nearly $ 1 billion, are only a Fund Manager, and its growth path is fixed income investments. The past two years,Bond funds from new or better gains on stock investments.
In 2010, the level of debt based on average income can reach 8.14%, secondary debt-based 6.36%, and pure bond fund averaged just 3.83%.
Can be seen from the number of bond fund beat the new preference, coupled with the short Bond Fund, pure bond fund on the market today only 5, but level debt based on the 45 only (does not distinguish between charges), secondary debt base is 51.
A senior industry analyst said, from the last two years development of the Bond Fund and investment preferences, many bond funds, especially the larger bond funds should consider adding equity fund managers. A bond fund manager Shanghai said, the fund company performance pressures are often larger, bond fund managers also hope to make good results, therefore preference enhanced means that buying interest in such assets.
But he also is that, unless the stock market have certainty of chance, nature of the bond fund investment should return to healthy, if pure investment of bond varieties, one-year yields will not be as high, but also 4%-five income volatility of performance will also be smaller. "If bonds of 4% per cent a year, also faces tightening this year, objectively speaking, the current negative revenue exceeds 4% debt-based bond investments alone estimates in the second half of this year have positive returns, can only hope the stock market better.
"He said. However, Zeng Gang believes that if three quarters of tightening face more pressure slowed, funds, unit, a debt while warming may. But at this stage should be cautious, and selection on a small amount of participation.

Tragedy fund managers blame rat silo

Securities Times reporter Chen Chu if you addicted to money, especially for funds and equity paid close attention, in addition to to taste the pain of lost money, in fact, it's really can find a lot of fun. No, this week that a "history of the most tragic of Fund Manager": sea of original Franklin Fund Manager l. Huang, in its operation the mouse in the warehouse in two years, the cumulative loss of $ 54,000, becoming the only known loss of Rat Trading Fund managers.
Precisely because of this, the man being the play known as the "most tragic in the history of Fund Manager". Recommended reading · Index Fund concentrated discussion posted
· analysis real of Fund will cast May private Wansheng public raised 94% run lost performance comparison benchmark unit base do ink "tragedy Fund Manager" disaster up mouse warehouse brokerages "pit father": policy report misleading public raised new value folded JI recombinant unit William l. Rowe wide fine solutions fuck disk limited purchased ≠ performance excellent open purchase unspeakable opportunities deciphered fuck disk password master main trends SFC investigation of results display, l. Huang Yu March 2007 to April 2009, in Ren Guohai Franklin China income fund of Fund Manager during, operation its control of Jing a account, for mouse warehouse transactions, losses 54,000 yuan.　　L. Huang was eventually market the ban into the qualifications of, cancel, is punishable by a fine of $ 300,000, while 10 years shall not engage in securities business or listed company directors, supervisors, and senior management positions. Look at the "Fund Manager of the history of the most tragic" outcome, I believe we can easily think of a familiar word: stealing chickens out of anti-corrosion meters! Is really funny to say, an investment expert in the eyes of others, engage in a rat silo for 3 years, the result was a loss!　　This is also from the side told us at least 3 reasons. First, rat silo is not stable is not lost. Talk of Rat Trading, everyone thinks that is profit, is to use holder's money to fish for themselves a lot of benefits.　　It is true that most rat silo can really let offenders benefit, but do not be too high a rat silo of the public power in today's stock market, investors have diversified Fund at the age of dominating a-share market, shakers have become a flower of yesterday. Second: not all is investment Fund Manager master. Think, too, most of these managers is an elite school graduates, but this can only prove their past glories, these young people do on the Fund Manager, billions of and even tens of billions of money to play in the hands come and play in the past, in fact, often are in the sweat of the holder practise that they themselves may not be the number of proven investment philosophy and superior investment strategies. If not Rat Trading, an account 3 years I believe that many retail operation, possibilities of profit will be very large. Now suddenly out of a Fund Manager mice warehouse 3-year loss of $ 54,000, completely broke holders for fund managers to have dreams! In this way, you want to invest in the Fund, expected high is obviously incorrect.　　Or his study hard and maybe one day investment capacity also far more than the Fund Manager, or reduce the expected, through the investment fund gets the market average. Third: fund company keeps promoting risk control, and when external Fund Manager presentation known as "duty of diligence", in l. Huang who, it is a mockery!　　Rat silo 3 years a fund managers, fund companies have found no clues to further reasoned, also the number of the "yellow forest" fund company is not found? Hope, the greater and greater the disappointment. After the disappointment, calmed down rationally think about, "the most tragic fund managers" case tells us that in the financial markets really need not believe day or not, not only on the books are not the only, all depends on your own! Imagine if your financial hopes the l. Huang of fund managers, what outcomes? Think is terrible.

Industry bottlenecks fund company executives have hanging seal

Reporter Wang Jue from definitive refutation of fund industry on Shanghai, many fund companies familiar "head" hanging seal, a microcosm of the growing tide of fund company executives. According to media statistics, less than half a year's time since late last year, has 12 fund companies for handsome, one-fifth per cent of all companies, in 2011, the flow of fund company executives became a microcosm of the industry today. Incomplete statistics, as of the end of May this year, the Fund has over more than 40 cases of change of Executive Officer, President and General Manager of title only, there are nearly 20. This dispatch was informed that, huatai Bai Rui Fund Mr Desmond Chan, General Manager of the company may be left. Industry insiders said, Mr Desmond Chan's departure could trigger a new round of upsurge of separation. Recommended reading · Index Fund concentrated discussion posted
· analysis real of Fund will cast trillion private craving legitimate identity Fund figure frequency are real estate involved mine unit most tragedy Fund Manager playing mouse warehouse also losses money Fund Yu Ze "seal go open" spread raised only 265 million CITIC by Huaxia Fund equity transfer motion Shanxi coking: floating capital followed Wang yawei retreat Qiming: shocks city in the how mining Daniel unit in these "head" occurs change of fund company in the, some because term expired, some because last year its fund performance poor and left, also some because shareholders party occurs change. What exactly is so far this year to fund the company's executives of such change?
Smart-cool weekly financial center in the Times reporter said in an interview with: bottleneck of China fund industry is now entering a phase of the stage, this time to fund the company "the fortress" focused separations is performance. Tide of Fund big brothers to leave the end of May, China's first joint venture fund-investment funds General Manager Cheng Baoliang will become the separation "big brothers" a member of the new.
According to Cheng Baoliang left in June to serve 8 years of investment fund, reported that Cheng Baoliang will become a major preparation for Shanghai power investment, the company is Shanghai International Group follow the QFII-LP policy established the foreign currency Shanghai industrial investment fund. By contrast, more surprising changes in the Fund's senior. On March 4, Vanguard Fund published the announcement on change of senior management, Board Chairman and General Manager of both substitution.
Bulletin content is displayed, former Chairman of the vanguard Fund Sun Guomao and the departure of General Manager Li Zhenwei as the expiry of the term on March 4, the day President and in charge of finance Bi Yuguo by Qi Lu securities as Chairman, former Deputy General Manager Yang Feng as General Manager. Although the original Sun Guomao, Chairman and General Manager Li Zhenwei because expiry and outgoing, but thousands of families Fund last year's performance is not satisfactory it is true. Analysis of the stakeholders in the industry said: "the term no longer re somewhat associated with the Fund last year.
"In addition, in accordance with the relevant data and statistics from last December to the end of May this year, Zu Yu tianhong Fund humic, yimin Fund, Vanguard funds Li Zhenwei, sea Franklin Jin Zhefei, Wan Ling Mao Jianming, Wah Fu Estate Fund Xie Qingyang, livelihood and silver Liu Pohong guests and day treatment Fund, stronger than Yi Jin and Yuan dynasties, long-Sheng Chen Lihua from the company's General Manager of the Fund have been on leave. "Big brothers" storm batch separation is not just limited to small and medium-sized fund companies, but also spread to the fund industry "weathervane" known as the Chinese, such as harvest, Yi fang da and Boshi "billions of Club" members. Just notice proposed to transfer 51% shares of Huaxia Fund burst again blockbuster. Huaxia Fund investments of former Assistant General Manager, institution Director Guo Shuqiang will leave China asset, to us fund the post of General Manager. News that Guo Shuqiang has recently applied to the Huaxia Fund submitted the resignation of the Board and agreed to.
At present, Guo had in US funds for entry clearance, only after the regulators go through procedures such as the company's formal appointment. On May 11, harvest Fund announcement said Wang Zhongmin due to the expiry of the term and retired, no longer as the company's Chairman of the Board positions. General Manager Zhao Xue-Jun behalf of the Chairman of any company functions. There are rumours in the industry, joined harvest Fund nearly 11 years Zhao Xuejun may directly managed from this exit, the outgoing General Manager duties, the post of Chairman. In late May, known as the public placement Fund "big five" Boshi Fund Xiaofeng, General Manager of one of resignation rumours began to spread in anecdotal, and moreover that, Xiaofeng has formally submitted his resignation to Boshi Fund's Board.
In fact, the rumors as early as a year ago on Xiaofeng separation has begun to spread in the industry, but then the noise after, Xiaofeng still adhered to. Coincidentally, media have reported that there were rumours another fund industry "big brothers" Yi fang da Ye Junying, General Manager of the back seat, the outgoing General Manager duties, as the company's Chairman post. At press and before the news broke, the League General Manager Xu Xiaosong final departure soon, or he will go to China Merchants Fund as General Manager of the post. Luen on funds Insider weekly in an interview with the Times reporter said in an interview: "the total is still in the normal working of the company, and no resolution of the Board. "Origin of the cause of separation", General Manager of the Fund so concentrated outbreak of separation, in the course of development of China fund industry as a whole more than 10 years, is a very rare phenomenon.
"Cool-Chi Institute for Monetary Research said. According to public information displays, the end of 2007, 59 in China Fund company's total share of the Fund reached 2.234 trillion, management of assets total nearly $ 3 trillion. As of the end of 2010, China Fund company increased to 63, the 2.29 trillion of the total share of the Fund management, assets under management total scale of 2.44 trillion yuan.
In up to three years, China fund industry seems to have entered the "stagnant". "In the current corporate governance structure of the Fund, General Manager at the core of the operation and management, so the big changes in the scope of influence for the fund industry as a whole is very large. If the management of publicSecretary has played a key role in promoting the development of, the core leadership of the company left the company's influence is significant. In particular served in a long time the first General Manager, once they leave will inevitably brings a series of personnel, and to the company's investment research, market, wind control, businesses will have a huge impact. "" Company General Manager after the departure of the Fund, some choose to do private or PE, in the State of the industry as a whole is in a downturn, switched to the other case not much of a public-fund company, and some will choose to replace the industry or simply rest at home for some time.
"The cool-Chi said. Deep root reason, smart-cool weekly reporter said in the financial center of the era: "the General Manager of the fund company Executive's departure, is a combination of many factors, we cannot make generalizations. First is the fund industry as a whole through the development of a dozen years, experienced industry bottlenecks, size of company development space is limited, operating difficulty on breakthroughs and, secondly, fund companies present on the system design constraints, such as the industry has been plagued by fund management incentive, to solve this problem need to breakthrough in the framework of the Fund law and regulators is possible under the guidance of a solution. "In addition, the official said, the Fund governance is also important reason for the departure of executives of the company, developed a series of operational objectives and policies of the Board on business development strongly restricted, some leave the contradiction between management and shareholders have been very intense.
Public placement Fund faces huge pressure and market pressure, compared with private working environment easier, more attractive incentive system, which is also many public-fund "boss," select "private revolution" causes. "In addition, some difference between large and small companies, small company executives resign mostly because management did not meet the requirements of shareholders, so as to conflict with the shareholder side, initiation to Italy. This phenomenon is very common in billions of fund companies. "The cool-Chi financial Research Center said.

Shanxi coking hot money withdrawal followed Wang yawei

Report from the Shanxi coking fell yesterday (600,740, unit), institutional seats sold a total of 14 million shares in the second quarter, and bin Wang yawei to hold 18 million shares may have been "leave". Open data display of the Shanghai Stock Exchange, since the second quarter, Shanxi coking total of 5 times listed. Shanxi coking in publishing enterprises that few trading days after the announcement, shares continuous changes, display the location of the number of idle capital Sales Department on access to information has become the pushing hands behind the share price. Subsequently, the institutions are gradually involved a seats on the Shanghai Stock Exchange trading a few days ago showed that seats in Shanxi coking of the institutions will appear at the sellers in the stock price changes. Is precisely because the Agency made the big move, makes people think is a star Fund Manager Wang yawei had fled.
Recommended reading · Index Fund concentrated discussion posted
· analysis real of Fund will cast trillion private craving legitimate identity Fund figure frequency are real estate involved mine unit most tragedy Fund Manager playing mouse warehouse also losses money Fund Yu Ze "seal go open" spread raised only 265 million CITIC by Huaxia Fund equity transfer motion Shanxi coking: floating capital followed Wang yawei retreat Qiming: shocks city in the how mining Daniel unit this year a quarter, Star Fund Manager Wang yawei in charge of of Huaxia market and Huaxia policy had heavily stationed in Shanxi coking, a quarterly display, Huaxia Department this two only fund holds Shanxi coking 18 million unit, accounted for circulation equity close 4%. But from the Shanxi coking yesterday trading publicly disclosed information visible, signs of floating capital together with Wang yawei retreat. Judging from the transaction disclosed yesterday, withdrawal of funds is also increasingly vicious, shorting the forces to be reckoned with. According to the Bohai securities sold $ 95.25 million zhangwu road, Shanghai, Oriental securities Shanghai zhangyang road sold 51.8489 million Yuan. Reporter on buying, selling seats for rough statistics, top five bought seats bought $ 30.26 million new Trojan, Trojan and the top five selling seats sold $ 189 million, short of momentum well above those for long.

Survey of over 80% 40% Fund Investor lo59es said to continue to invest funds

Hexun Fund messages when the investments of the Fund was known when the Fund has become an integral part of the people financing tools, the Fund has repeatedly disappointed investors, time and time again investors into purchasing also is in the entanglement of redemption. According to statistics, in 2011 in a depressed market, has issued new Fund reached 82, first raised funds total $ 146.806 billion. However, existing funds made it difficult to optimistic. According to the WIND information statistics, net growth rate calculated by complex right unit, May only open bonus (not including this new Fund) average 5.37%, under the influence of this, net worth at $ 0.5 interval and the following of stock-type, mixed-type Fund to reach 15. Recommended reading · Index Fund concentrated discussion posted
· analysis real of Fund will cast trillion private craving legitimate identity Fund figure frequency are real estate involved mine unit most tragedy Fund Manager playing mouse warehouse also losses money Fund Yu Ze "seal go open" spread raised only 265 million CITIC by Huaxia Fund equity transfer motion Shanxi coking: floating capital followed Wang yawei retreat Qiming: shocks city in the how mining Daniel unit according to hexun Fund investigation display, this year yilai, 84.83% investors of fund investment is losses State, 11.72% of investors said capital preservation, only has 3.45% of investors profit, visible this year fund investment of gruesome sight. In addition, the 44.83% said investors will continue to hold the Fund, said 23.79% investors to redeem, worthy of note is the 20.69% investors still want to continue gallon, representing the investors to jiancang only 10.69%; and 44.48% said investors will continue to invest in funds, but there have been 36.21% said investors will not continue to invest, 19.31% investors in a swing state, says not necessarily.
From this data, we can see today's Investor idea become more rational, and no redemption of the blind, and can be found from the stance of investors, investors may understand the causes of poor performance of the Fund. Fund investment fiasco of the above data, we can see investors this year, this is not so much the investment mistakes of investors, rather it is the Fund Manager's investment mistakes. Increasing in the days of inflation, investment failure no doubt exacerbated investors ' mental pain, which fund managers attention also had to, because the only good performance to attract and retain investors, to make funds toward a virtuous circle of investment.