Time flies and enters December. In the last quarter of the year, Tiansheng Capital’s main task is backdoor listing. The China Securities Regulatory Commission’s review is also very fast. Everything is accelerating and it is expected to be relisted in the first quarter of next year.
There is a professional team below to handle the backdoor listing work. All Lu Ming has to do is look at the progress report and the like.
"Come in."
Lu Ming, who was sitting on the sofa, was making tea comfortably. He turned and glanced at the door of the office. The person who came in was Su Xiaoman. He sat down in the empty seat next to him and handed him a document he had brought.
said:
"The overseas QDII fund raising has ended. The total funds raised are 8.628 billion yuan, approximately 1.35 billion U.S. dollars. Positions can be opened next week."
The fundraising is quite large, all thanks to the name of this QDII fund "Tiansheng Global Pioneer Mixed". Who among the senior citizens in China doesn't know the name of "Tiansheng Enchantress"?
Although QDII funds that go overseas are very weak, and domestic institutional investors are all messed up by foreigners, everyone still believes that Lu Ming will be an accident, and entering the overseas capital market will bring major changes to QDII funds.
After all, in the past year, Lu Ming has changed from a myth to a belief in the minds of some small and medium-sized investors in China. When it becomes a belief in a certain sense, it means blind trust.
This is actually similar to the loyal followers of Warren Buffett, the stock god.
Lu Ming made her a cup of tea by the way, then he took a sip from his tea cup, shook his head and said: "Don't worry, let's talk about the election in the United States, the global economy is also in recession, and various signs indicate that anti-globalization is on the rise.
There is a high probability that there will be a sell-off at the beginning of the year, and you will enter the market after the sell-off."
The difference between QDII funds and QDIE funds is that QDII funds cannot short-sell, their investment scope is relatively conservative, and there are not many hedging tools.
The QDIE fund is different. There are no restrictions on investment types. Lu Ming can invest in overseas securities investment, overseas unlisted company equity investment, debt, hedge funds, commodities, precious metals, real estate assets and physical assets.
Many varieties can be made.
In short, there is no limit to the investment scope of QDIE funds.
Tiansheng Capital has obtained the QDIE fund pilot, and currently has ten varieties. One Bitcoin variety has a potential market price of 500 million US dollars, and the other nine varieties are call options on Amazon, Activision Blizzard, Nvidia and other stocks.
Moreover, they did not use any hedging tools and were directly bullish. Not to mention that domestic banks or fund companies did not have the courage. Even Wall Street financial institutions did not dare to play like this. If they did it right, they would get a lot of money, but if they did it wrong,
Compensate properly and lose everything.
However, Tiansheng QDIE has made a lot of money in just two months. Only the US$500 million lurking in Bitcoin is currently basically within the cost price range. On November 4, the price of Bitcoin once surged.
It reached $500 and is now back down.
Bitcoin is a type that Lu Ming will lurk all the way until the end of 2017. This is the fourth round of madness. The price has skyrocketed to 20,000 US dollars each, and the trading volume is a huge amount of tens of billions of US dollars a day. It will be easy to escape by then.
The current full-day trading volume of Bitcoin is only 30 to 40 million U.S. dollars. In the next six months, Lu Ming will continue to accumulate funds for this product at prices below 1,000 U.S. dollars.
The other nine call option varieties have made a lot of money. Tiansheng QDIE's current capital market has reached 18.9 billion US dollars, which means that it has achieved a cumulative gain of 278% in the past two months.
Lu Ming calculated the time and directly ordered: "Go back and inform Lao Qi that all nine call options on Tiansheng QDIE will be closed tonight. At the same time, another US$500 million will be invested in put options on these nine varieties, and then
Start accumulating stocks of Tengxun and Alibaba, just go long, don’t use leverage.”
A put option is a put option. If you take the long position, you will take the short position. In the new year of 2016, when there is a big dive, you will be done with the short position.
As for the Tiansheng Global Vanguard Hybrid QDII Fund that has completed raising funds, just wait until this wave of decline is over before entering and going long. The position building period is exactly three months, and you will hold the position in the next three months.
Let’s wait and see first.
Lu Ming added: "In addition, we will continue to buy Bitcoin at a low price and tell Lao Qi that the final average cost will not exceed US$800 each."
Based on the current trading volume of this type of Bitcoin, it is good to be able to raise 20 million US dollars in one trading day. You cannot go long on a large scale, otherwise it will directly boost the market and the cost will become higher. It is obviously not cost-effective. Now
This is not the time to start a market move.
Anyway, you have plenty of time, so just suck slowly.
Su Xiaoman looked at him in astonishment and said: "Can Bitcoin really carry billions of dollars of funds? This kind of P2P game..."
The previous rounds of Bitcoin's bull market were said to be bull markets, but the daily trading volume did not exceed 100 million US dollars. To put it bluntly, there were only a few people participating, and some people took advantage of it.
Lu Ming said with a smile: "It is different from the traditional P2P gameplay. The long-term logic of my optimism about Bitcoin is that I am not optimistic about the economic conditions of the United States and Laos in the next five years. The Federal Reserve has released a lot of water, and there are expectations of unlimited exchange easing in the future. Bitcoin's special attributes
It will be considered a scarce safe-haven product by global investors. No matter how crazy the story is, pigs can fly when standing on the cusp of the storm, so go ahead and do it.”
Su Xiaoman followed up and retorted: "But if the wind stops, the pig will still fall down, and the higher it flies, the worse it will fall."
Lu Ming smiled, spread his hands and said: "So what? Just pretend that this investment in Bitcoin does not exist, can I still lose money?"
I was speechless.
After a while, Su Xiaoman asked: "Bitcoin is slow to attract funds for long positions. It takes several months to build a position with 1 billion U.S. dollars of funds. Nine varieties have short sales of 4.5 billion U.S. dollars. It is impossible to do all of them long.
Ali’s two votes, right? How to arrange the remaining funds?”
Lu Ming thought for a while and said: "Sell crude oil futures with 3 billion U.S. dollars, and hold all the remaining funds offshore. Lao Lao Qi has told me to send your team to do a more important thing as soon as possible. The flow of this 10 billion U.S. dollars
I want you to leverage 50 billion US dollars of leveraged funds by early January next year, which will be of great use to me. I must not go to overseas financial institutions, but go directly to the central bank.”
The time is coming, and an invisible foreign exchange war is about to start quietly. This time Tiansheng Capital is going to make a big deal. The international short-selling institutions have been sharpening their knives. This time they are going to steal the butt severely.
Poke it and let them feel the taste of the chrysanthemum residue.
Su Xiaoman was dumbfounded and didn't know what to say. He leveraged 50 billion US dollars of funds, which is equivalent to more than 300 billion yuan. This is undoubtedly an astronomical figure.
The more he plays, the bigger he gets.
After regaining consciousness, Su Xiaoman couldn't help but said: "With such a large amount, will we be granted a quota?"
It is very difficult for funds to leave the country now, not to mention that it would take 40 billion US dollars offshore in one go. In Su Xiaoman's view, it is impossible to get approval.
Lu Ming smiled confidently: "Just do as I say and follow the normal process."
Just kidding, Tiansheng Capital is equivalent to the guerrilla force behind enemy lines in this currency war. Although it will not be stated explicitly, everything is implicit.
Making more than 10 billion US dollars by going overseas this time is equivalent to telling the central government that Tiansheng Capital has the ability to win the competition with top foreign players. The 40 billion US dollars lent will not only not be wasted, but also the capital will be lost.
Return with a full load of profits.
The uninformed Su Xiaoman didn't know where he got the confidence, but he followed Lu Ming's decision.
At this moment, Lu Ming picked up the documents she brought and browsed through them.
Forecast of Tiansheng Capital’s end-of-period asset size.
Tiansheng Value Growth Hybrid Fund: 23.735 billion yuan;
Tiansheng Global Vanguard Hybrid Fund: 8.628 billion yuan;
Tiansheng QDIE Fund: 120.015 billion yuan;
Major passive index funds: 4.325 billion yuan;
Market value of 1.855 billion Anshi shares: 124.585 billion yuan;
Primary market investment: 2.1 billion yuan
Liquid cash: 37.9 billion yuan.
As of December, the assets managed by Tiansheng Capital have reached 321.288 billion yuan, of which Tiansheng Capital’s own net assets have reached 129.5 billion yuan, and the total LP of all companies is close to 200 billion yuan. To put it simply, it is
Tiansheng Capital has helped others manage 200 billion assets.
In other words, Tiansheng Capital currently collects more than 20 to 300 billion in management fees every year. Asset management fees are guaranteed to be collected regardless of drought or flood. As the scale of asset management continues to expand, management fees will also expand.
However, the core income still comes from excess performance commissions, which have been earned by LPs this year. As long as they wait for redemptions or dividends, that is excess income, which has not yet been reflected in the company's quarterly income statement.
According to the agreement, whether the investor's capital dividends are withdrawn directly or the dividends are reinvested, Tiansheng Capital will receive a proportional commission unless there is a loss throughout the year.
2015 was a bumper year. Excluding public funds, Tiansheng Capital brought a total profit of more than 128.5 billion yuan to several major LP institutional clients such as Ningzhou Social Security Fund, Chaoyun Trust, and Wanxiang Group. This year
There is still the last month to close, and it is expected to make a huge "red envelope" profit after the year. There is no problem in the total profit reaching 150 billion.
This also means that in the coming year’s dividend commission, Tiansheng Capital will be able to share an excess performance commission of more than 20 billion yuan from this total profit.
There is no doubt that Tiansheng Capital’s fees are high, but LPs will never mind. On the contrary, they hope that Tiansheng Capital’s performance commissions will be as large as possible, which means more absolute profits will be made.
…
(Ps: I want to follow the pace of forced liquidation. I don’t want to look at other data. Now I just want to catch up with the monthly ticket plus redemption requirements. I am going to be pushed to 2900 monthly tickets. Please slow down. I feel gradually blurred and unconscious.
