The investment era of rebirth

In the evening, discussions on topics such as 'Wealth Road', 'Yuhang Fund' and 'Suyu' still topped the list of major stock forums and investment trading forums, and the myth of 'Yuhang No. 1 Fund's 20-fold performance in half a year' The hurricane of the fund industry triggered by the epidemic is still raging in every corner of the domestic financial circle.

Even, at 8pm.

The topic of "Yuhang No. 1 Fund's half-year 20 times performance myth" has also broken through the attention of the industry, and has been on the hot search list of Weibo, a well-known social news media platform in China, attracting countless people outside the venue, as well as many previous critics. The fund industry and the financial industry do not understand the concerns of groups.

"After the net worth of the two funds was made public, our company, as well as you, are completely famous." In the rental house shared by the two of them, Li Meng checked the hot search list on Weibo, smiled, and said, "About us The topic of the fund's performance has suppressed a lot of entertainment news at this moment."

"In the financial world, fame is useful, but in the final analysis, it depends on strength." Su Yu replied with a smile, "There is no need to be too persistent about these illusory things."

"En!" Li Meng responded slightly, "What shall we do next?"

Su Yu thought for a while and replied: "Before I got off work, I sent emails to all 1 investors of the 'Yuhang No. 161' fund. Now more than 2 hours have passed, and I have received 146 replies. At this moment, we have settled the net value of the 'Yuhang No. 1' fund and opened free subscription and redemption for half a month, and we have no objection, so the ex-rights of the fund's net value will be implemented according to the plan."

"As for the current holdings of the two funds and their investment plans..."

Su Yu paused, and continued: "After the net value of the 'Yuhang No. 1' fund is ex-rights, the position line will move up quickly if the position is not continuously reduced, so... If the subsequent market continues to pull back, the position will be moved up according to the position Line, the net value retracement of the 'Yuhang No. 1' fund may be relatively serious."

"So, my opinion is that we are ex-righting the net value of the 'Yuhang No. 1' fund."

"We have to continue to reduce the holdings of the 'Yuhang No. 1' fund."

"At least, after ex-rights, the position level of the 'Yuhang No. 1' fund should be lowered to the same level as that of the 'Yuhang No. 2' fund."

"Yeah!" Li Meng replied, "I have the same idea as you, but it's just about the continuous reduction of the 'Yuhang No. 1' fund. Which part of the holding chips should we give priority to reducing? Newly built, there is not much floating profit, But the automobile and white goods sectors with ample liquidity, or the 'Internet Finance' sector that is in line with the main line of 'Mobile Internet' that we haven't sold out on a large scale yet?"

"Let's reduce the 'Internet Finance' sector!" Su Yu said, "In the field of automobiles and white goods, we hold large-cap stocks with very abundant liquidity, and these stocks have reasonable valuations and small increases. There are also certain expectations, even if the market adjusts, their adjustment range, with a high probability, is smaller than the market average adjustment range."

"And the 'Internet Finance' sector..."

"As you said, this concept segment is in line with the main line of 'mobile Internet'."

"The index is unable to break through 2500 points and 1400 points, so next... no matter whether there is a new negative attack on the market news, the index is bound to look for support again downwards, and the point where there is strong support below is 2200 to 2300 On the first line, and on the first line from 1100 to 1200 points, there is about 10% room for the index to correct back.”

"In such a space..."

"This year has been soaring one after another, and the two core main lines of 'mobile Internet' and 'smart phone industry chain', which are expected to be seriously overdrawn in the future, will inevitably have a strong need for a correction. , There are a lot of speculative funds, and in a strong market correction, this part of the funds is extremely vulnerable to emotional fluctuations, and is also very prone to extreme selling behavior.”

"If the so-called rise is too high, it will also fall too far."

"These two mainline areas, under the extremely high degree of attention in the market, their amplitude must be much larger than the index."

"Therefore, it is reasonable to give priority to reducing the holdings of stocks in this field."

"Of course, the reduction of holdings belongs to the reduction of holdings. It does not mean that stocks in this field are worthless."

"The purpose of our holding reduction, in addition to responding to the market's expected retracement, controlling the retracement of the fund's net value, and the investor's share redemption demand during the opening of the fund, the most important purpose is to reduce the cost of holding positions. In the position, use the same position to buy more chips."

"In a word..."

"Reducing holdings is for better buying. This is our fundamental purpose."

"Understood!" Li Meng nodded, then smiled, and said, "So, you are still optimistic about the two main lines of 'mobile Internet' and 'smartphone industry chain'?"

Su Yu responded with a smile: "The trend of economic development and the explosive point of emerging industries in the future are basically clear now. It is not an exaggeration to say that the future is the era of 'mobile Internet' and the era of 'smart terminals shining brilliantly'. In the two major fields, there are hidden trillion-level market space and demand, there is no reason not to be optimistic about it!"

"The current A-share market..."

"In these two fields, not to mention trillion-level business companies, even giants with a level of hundreds of billions have disappeared. It is too early to say that the hype is over."

"At the current stage, it's just the core enterprises related to these two fields."

"The growth rate and scale of performance have not kept up, which has caused the stock price to seriously deviate from the valuation of performance at this stage, overdrawing expectations for a period of time in the future."

"It doesn't mean they don't have room to grow."

"If these two areas, following the market index or the market's macro sentiment, undergo a relatively large adjustment, digest the expectation of being overdrawn, and wait for the performance to catch up, then it will be a very good time to invest and build a position .”

"Of course……"

Su Yu thought for a while, and then said: "The main line of 'Mobile Internet' and 'Smartphone Industry Chain' has a wide range of business, and there are quite a lot of sub-sectors involved, and these under the macro background There are relatively large differences in subdivided industries, the cycle of their performance explosion, and the fundamental conditions for the overall explosion of industry demand, so... Although it is the same main line field, the performance of specific subdivided industries will also have huge differences. different."

"Just like this year, thanks to the huge wave of smart phone replacements initiated by 'Apple' and the explosion of 'wearable devices' such as 'smart bracelets and smart watches', the industries related to smart phones and wearable devices The chain manufacturing company has achieved a skyrocketing performance.”

"This is the embodiment of the collective benefit of all companies in the industry due to the expansion of demand in the entire industry."

"It's also the reason why the concepts of 'Apple Industry Chain' and 'Wearable Devices' have gone so strong this year."

"Brought by the massive replacement wave of smartphones, and with the support of 4G networks, 'mobile games' have also ushered in a new industry change. The express train of mobile phone, whether it is the potential user demand or the ability to attract money, has skyrocketed by more than ten times, which is the basic logical support for the continuous strength of 'mobile game' this year."

"There are also related mobile payment, new media, online video, online education, Internet finance..."

"All subdivided industries that revolve around the core areas of 'mobile Internet', 'smart terminal equipment explosion', '4G network construction mature', etc., have potential user demand soaring, industry space is rapidly increasing, and the performance of related business companies is expected to soar .”

"In short, these two main areas."

"It is worthy of continuous digging, continuous layout and investment."

"Our vision should not be limited to the current hot concepts such as 'mobile games', 'Apple concept', 'wearable devices', 'mobile payment', 'Internet finance', etc. ' and 'smartphone industry chain', other core expectations and valuations are still low. Then make a precise layout."

"Okay!" Li Meng replied, "Taking advantage of this short period when the index is likely to pull back, I will ask the company's traders and analysts in our department to analyze and discuss according to the route you said, and then Find out the important follow-up investment path, and determine the target stocks to invest in."

"Yes!" Su Yu nodded slightly, "During the period until the Spring Festival holiday, our main purpose is to study the market first, find the direction, and not rush to build positions. Of course, although the positions of the two main funds are in the back During the period until the Spring Festival, the positions can only be reduced but not increased, but the intraday training of traders cannot be stopped. In the future...the company will further expand, and we need more core backbones and talents!"

Li Meng smiled and said: "This is natural. Although cognition, talent, and discipline are the dominant factors affecting the transaction results in financial transactions, the word 'practice makes perfect' still has a certain effect. Everyone has trained a lot. The flow direction and emotional perception are obviously much more sensitive.”

"Oh, right……"

Speaking of the training of traders, Li Mengmeng said: "The one you recruited yourself, the first external trader in our company, that girl Liu Yuan, now has a lot of knowledge about the market, capital flow, and emotional perception. , as well as macro and micro analysis, they are very insightful, and I feel that I already have one or two points of your analysis and operation style."

"It surprised me that……"

Li Meng smiled and said: "This piece of white paper was really sketched and cultivated by you."

"I can only teach if she is willing to study hard." Su Yu said, "This girl can be trained as the core backbone of the company, and then let her practice in the position of trading team leader for one or two years, maybe the follow-up , You can also try to manage a main fund, and try trading.”

The company has been established for half a year, but he has the core staff available.

It was still the group that was drawn in when the company was first established.

For the remaining employees, there are those who have outstanding performance and outstanding ability, but they have only been in the company for a short time. If they really want to be promoted to the core position, they have to observe and observe again.

Of course, during this period, he also asked Qin Haowen, director of human resources department, to poach some people from other organizations.

It's just that for the core department of the company, the trading department, he is still very cautious in employing personnel, so the recruited people have not been recruited into this department in large numbers, resulting in limited expansion of personnel in this department, and the scale of funds has expanded to tens of billions. After the level, it appears that there is a serious shortage of manpower.

However, nothing can be rushed.

Su Yu felt that according to the current rhythm, it was a solid step by step, which is very good!
"Yeah!" Li Meng nodded in response, and said, "I'm also very optimistic about her, I hope she can perform better in the future, so that everyone won't be disappointed!"

While speaking, Li Meng's cell phone rang again.

And this... is already the 1th phone call tonight after the net value of the 'Yuhang No. 2' and 'Yuhang No. 16' funds jointly managed by her and Su Yu was announced.

Li Meng glanced at the caller ID and saw that it was the former colleague Lu Anqi who shared the rent with her before, and couldn't help frowning.

Afterwards, she thought about it and hung up the call directly.

"What?" Seeing her expression, Su Yu smiled, "Are you afraid of answering the phone?"

Li Meng sighed softly, and said: "'No one asks you when you are poor in the busy city, and you have distant relatives in the mountains if you are rich'. I have never really understood it before, but now I really understand it. Huge profits touch people's hearts! In an instant, I It seems that there are many friends, colleagues, and classmates, but before, I had no intersection with these people at all."

Su Yu laughed and said: "This is the charm of wealth. Half a year ago, you and I were just no one paying attention. In the city of Yuhang, struggling to survive, hoping to live a good life, hoping to give family and loved ones It’s just ordinary people who bring about some changes. Naturally, no one cares about it, let alone flattering them, but now... the creation of billions of wealth, under the human instinct of "seeking benefits and avoiding disadvantages", no matter how stupid a person is, Know how to use the connections around you to catch up with this line and share this seemingly risk-free investment opportunity."

"Why is your phone so quiet tonight?" Li Meng asked in surprise.

Su Yu smiled and said, "Because I blocked all incoming calls from strangers, even if someone was looking for me, they would probably be transferred to Secretary Li."

"No wonder!" Li Meng understood, "You reject more thoroughly than I do."

"People, you always have to know how to refuse." Su Yu replied, and then said, "After the net value settlement of the 'Yuhang No. 1' fund is completed, 37.52 billion funds will be collected into the company account, and this huge profit will be recorded. The company will appear to be very abundant in liquidity, what do you think... how should we use this money, what do you think?"

Li Meng said: "As for the use of funds, you are the owner of the company, you can decide!"

Su Yu occupies 98% of the shares of the 'Yuhang Investment' company. In a real sense, she and Liang Bin have no say in this kind of matter.

"Aren't you also a shareholder of the company?" Su Yu wondered for a moment.

"Then... I'll just talk about my thoughts." Li Mengmeng Su Yu didn't have any other intentions, paused, and said, "After the net value settlement of the 'Yuhang No. 1' fund is completed, the collected 37.52 billion funds, The foreign debt owed by the company during the six months of operation must be repaid first, of course... the main creditor is still you."

"If I remember correctly..."

"In the past six months, you have lent a total of 2.2 million funds to the company in your own name."

"After repaying the 2.2 million funds, the company's semi-annual profit will reach 35.32 billion."

"You said that the development of our company still has to walk on two legs in terms of macro-planning. Now... the company's fund business department, its asset management scale has entered the tens of billions level, which can be called a solid foundation, but Liang The venture capital department in charge of Bin has made slow progress in the past six months due to funding reasons, even if there are high-quality projects, it cannot invest, and its development scale lags behind the fund business department by a lot."

"So, I suggest that 35.32% of the 60 billion funds, or 21 billion, can be planned as the venture capital department's self-operated investment fund for the venture capital department to develop projects."

"The rest of the funds..."

"A fraction, or 3200 million, can be used for company dividends and year-end incentives for employees."

"The remaining 14 billion funds can be settled after paying the corresponding taxes and used as the company's working capital to ensure the company's business expansion and other risk protection in the next year."

After listening to Li Meng's thoughts, Su Yu nodded slightly, and said, "According to your arrangement, it's not bad, but...the company's annual dividend of 3200 million and the total employee year-end incentive plan, isn't it...too little? "

"Compared to the profit of more than 30 billion yuan in half a year, it is not much." Li Meng said, "But compared to our company's current total number of employees of 136, it is not much. The average employee is 10 yuan, and the total amount is only 1360 million yuan, which is more than 3000 million yuan, which is enough for each employee to pay nearly 30 yuan in bonuses."

"As for the company's annual dividends, anyway, there are only the three of us as shareholders, so it doesn't matter how much."

"Of course, the year-end rewards for employees must not be distributed on an equal basis. How to distribute them...I want to ask Manager Zhu, it should be better."

"She is the manager of the company's operations, performance, human efficiency, system, and discipline assessment."

"I should know more about this part."

"Okay!" Su Yu said, "Tomorrow, I will find Manager Zhu and ask her opinion, but the basic policy is still according to what you said."

The two talked about the future investment direction, the company's operations, profit distribution, and future development issues...

It wasn't until late at night that they each fell asleep.

The next day, Tuesday, June 12.

In the whole market, there is still hustle and bustle about the performance myths created by the 'Fortune Road' and 'Yuhang No. Based on Zhu Huirong's comprehensive KPI assessment results for the company's various departments and even the employees in the past six months, the incentive distribution standards for the year-end bonus were set.

Then, after the official opening of the market.

After the unanimous consent of all share holders of the 'Yuhang No. 1' fund.

As the manager of the fund, Su Yu immediately ex-righted the net value of the 'Yuhang No. 1' fund in operation according to the rules established when the fund was established.

After ex-rights, the capital scale of the 'Yuhang No. 1' fund has reached 41.21 billion, the net value has changed from 19.67 to 10.30, and its position level has changed from about 30% to about 60%.

However, even if the 'Yuhang No. 1' fund has carried out net value ex-rights at this time.

Its annual net value performance of 10.30 still ranks first in the investment performance of the entire domestic fund industry, and it is still the best, leaving the rest of the private equity fund products in the domestic private equity rankings far behind!