You can only engage in closed-end fund transactions in the Mainland. Open-end funds are still in the research and discussion stage, let alone QDII and QFII funds.
The so-called closed-end fund means that when the fund sponsor establishes the fund, he first limits the total amount of the fund to be issued. After the total amount is raised, the fund is declared established and closed-ended management is carried out.
During the closed period, investors cannot redeem.
After expiration, transactions must also be conducted through the stock exchange, and there are many restrictions.
Because investors don't understand enough, they even speculated on funds as stocks, thinking that funds also have price-to-earning ratios like stocks, etc.
All we can say about this is that the mainland's asset management industry has just started, is still not professional enough, and the market size is pitifully small.
This time, Su Yehao took advantage of the reform of the Hong Kong Stock Exchange to cooperate with the four giants. He may have taken the opportunity to enter the financial management industry, and then use his own advantages to expand his income and his own influence.
Trying to cultivate a "cash cow" by providing professional asset management solutions to domestic and foreign customers.
For example, if he manages assets of 100 billion yuan for others, he can charge 1.5% to 2.5% through management fees every year, and his gross profit is 1.5 billion to 2.5 billion.
In addition, there are subscription fees, subscription fees, redemption fees and other income. As long as the scale is large enough, this part of the income should not be underestimated.
If one trillion yuan can be managed, the income may be expanded tenfold. If compound interest can be achieved and the earned funds are invested through channels, profits will be further increased.
Recently, Su Yehao has realized that investing alone cannot make full use of all the information in his head.
For example, Gree, Vanke, and liquor stocks actually have very good returns in the long run. The opportunity to buy the Nasdaq at the bottom in the future should not be missed.
However, his strength is limited and he has no extra energy to continue investing.
in this case.
Establishing an asset management company, raising funds for investment, and making money by taking a commission from it, is obviously the best solution. There is an opportunity to monetize the information gap, and there is no risk to itself.
The reason why the four giants who cooperated with him were so happy this time was that in addition to coveting the shares of the Hong Kong Stock Exchange, they actually valued Su Yehao's ability and reputation.
When doing business in the asset management industry, reputation is undoubtedly important.
Nowadays, hundreds of millions of people in the mainland know that Su Yehao is very good at making money. He has accumulated an astonishing amount of wealth in just two or three years, and his image is also very positive.
If he attracts attention for SSSSS Asset Management Company, the effect will be far greater than spending hundreds of millions on advertising. After all, Su Yehao has proven that he is indeed good at making money.
Compared with less famous investment managers, most clients prefer to hand over their money to rich people like Su Yehao for management. The celebrity effect is fully reflected in the investment world, such as the stock god Buffett, no matter which stock he likes,
The price will definitely rise after the news spreads...
In the conference room on the second floor of the castle, we discussed for an hour under the sun.
Su Yehao and these representatives have initially reached a partial consensus on the plan to first establish a public equity fund and a private equity fund in Hong Kong City.
As for the mainland.
We still need to complete the procedures before we can start the business. It is expected that we will first launch a product with a total scale of 2 to 3 billion yuan and test the waters in the form of a closed-end fund.
In addition, with the support of this group of partners, Su Yehao personally came forward to provide some suggestions to the above on the issue of promoting open-end funds and DQII products, and strive to open new markets as soon as possible.
After discussing important issues.
CITIC's senior executives drank tea with a smile on their faces and asked Su Yehao: "Mr. Su, I would like to ask you something. Is the reform of the Hong Kong Stock Exchange going well? Is there any hope for our company to get shares?"
Su Yehao said decisively:
"Don't worry about this. Although the draft is still being discussed, taking over mainland listed companies in the future is the development focus of the Hong Kong Stock Exchange. For the sake of shareholder diversity, we at 5S will definitely have the opportunity to occupy a position on the board of directors."
The reason why I dare to say so much is because the introduction of mainland capital is very beneficial to the Hong Kong Stock Exchange.
With the reform and development in the north, the channels for overseas listing are no longer limited to the Hong Kong Stock Exchange. The Singapore Exchange, which has completed the reform ahead of schedule, and the New York Stock Exchange in the United States are all new options.
This time, the local government spared no effort to "help" the three companies of the Hong Kong Stock Exchange, the Futures Exchange, and the Central Clearing Company to merge, in order to eliminate the current situation that members can influence the market by joining together, strengthen supervision, and put them in a cage.
The voice of those members in the past will be converted into corresponding shares. In addition, external financing will be used to put the raised funds to practical use and improve international competitiveness. There are only so many enterprises in Hong Kong. Taking over mainland listed companies has become Hong Kong.
The next focus of the exchange.
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Su Yehao carefully selected and took the initiative to unite these four giants to form SSSSS Asset Management Company.
We need to be strong and powerful, and we need to have connections. Not only do we have good reputation, our strength is even far greater than that of many multinational companies. There is no reason why we should be suppressed.
In order to put himself in the position, Zheng Yongwen has also communicated with his superiors and received a positive answer. The progress is much smoother than Su Yehao's attempt to join hands with wealthy businessmen in Hong Kong to obtain part of the equity.
Probably because they are worried about repeating the same mistakes, some businessmen continue to have the right to speak.
This time, the authorities deliberately excluded many local companies in the name of expanding international influence, mainly to attract multinational companies.
Su Yehao can understand, but in order to achieve the goal of "Hong Kong version of Nasdaq", he still hopes to acquire more shares and occupy a favorable position, so he has been dancing more cheerfully recently.
Seeing that his superiors were on guard, this was why he made an impromptu decision to decisively establish the SSSSS asset management company, and tried to leave behind the partners at Kai Tak Cyberport and continue to compete for financing shares in his own name.
The names of the three companies sound very powerful, but in fact, the total valuation together is only 4 to 5 billion Hong Kong dollars.
As long as the local area allows it, he even dares to package it all without any financial pressure.
...
At noon, I went to the Hi~ o(*￣▽￣*) Garden Hotel where this group of people stayed, and Su Yehao had a meal with them.
After eating and drinking, the reception came to an end.
I thought about agreeing to Buck-Toothed Jun to help him solve the problem of his fiancée. It happened that I had nothing to do in the afternoon, so I called Buck-Toothed Jun and took a boat back to the casino.
In the middle of the trip, I called my dad on the satellite phone and briefly explained what happened.
This father was finally begged for by his son. Not only did he not feel troubled, but he was in a good mood and told him that he would go to the old gambling king later to vent his anger and help mediate.
When it comes to financial resources, the Su family is indeed firmly ranked first in the gambling city. However, when it comes to these contradictions, the old gambling king who runs the casino has more experience.
There has been discussion recently about splitting the gambling franchising, but currently only the Lisboa family is the dominant one. Before the buck-toothed fiancée's father came in, he was begging for food from the king of gambling, so asking him for help will get twice the result with half the effort.