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.
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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.
