The investment era of rebirth
Chapter 486 Qianlong Tengyuan, an opportunity for development!
Chapter 486 Qianlong Tengyuan, an opportunity for development!
"What?" Seeing Su Yu stunned, Qian Zhongmou smiled and said, "You think you can't eat?"
Hearing Qian Zhongmou's question, Su Yu hurriedly came to his senses, thought for a while, and replied: "It's not that I can't eat it, but I'm worried... our company will be directly pushed to the domestic market because of the business that Qian Zhongmou said. On the cusp of the asset management industry, it has become the target of public criticism."
"So... are you afraid?" Qian Zhongmou continued to ask with a smile.
Su Yu coughed lightly, and said: "That's not the case, I just feel a little strange, there are so many powerful asset management institutions in the country, why can Mr. Qian take a fancy to our small company 'Yuhang Investment'? And Mr. Qian The so-called [-] billion-level 'long-term mixed investment fund' should not be simple in terms of the nature of the fund itself and the source of capital management funds?"
A large-scale investment fund of this level, Su Yu guessed, must be among the national large funds.
As for the specific attributes of the fund and the source of its asset management funds, whether it is social security, pension, or the market stabilization fund managed by Huijin, he cannot guess before Qian Zhongmou reveals the truth, but no matter what the possibility is, as long as he can accept This order of 'Agent Fund Management' business is a substantial leap forward for the development of 'Yuhang Investment'.
At the same time, with the background of state-owned assets, it can be regarded as a talisman for the company's future development.
Therefore, as long as this business can be accepted, even if there will be gossip in the industry for a short period of time, in the long run, it will definitely only benefit the company's development, and there will be no harm.
"There are indeed many powerful asset management institutions in China." Qian Zhongmou responded with a smile, "But it is the only one that can make the performance of several main fund products under your 'Yuhang Investment', of course. , I found you not only because of the performance of several main fund products under your company, but mainly because of Xiao Su's understanding and judgment of the domestic financial market, which impresses me. It has indeed been validated by the market.”
"As for the nature and source of funds of the 'agency fund' I mentioned..."
Qian Zhongmou smiled, still did not reveal the truth, and continued: "Xiao Su, if your 'Yuhang Investment' company is willing to take this order and become the acting management agency of this fund, then you will naturally understand everything after that. Know."
"Since Mr. Qian has already talked about this point..." Su Yu answered with a smile, "Then we 'Yuhang Investment' can only be respectful rather than obedient."
Qian Zhongmou laughed and said, "I'm not forcing you!"
"Of course not." Su Yu responded, "In general, I have no way to refuse things that are beneficial to the company, but... currently our fund company's transaction team, strategy analysis, risk control team and other personnel are still Seriously insufficient, in a short period of time, I am afraid that it will be difficult to undertake such a large amount of capital transactions."
Qian Zhongmou laughed and said, "Even if your company admits the connection, it will take a long time for the management authority of this fund to be handed over to you. In terms of arrangements, everything is still in time.”
"Old Qian said that even if our company admits the connection, we have to wait for a long time. What does this... mean?" Su Yu asked, "This is not a short time, how long is it?"
Seeing some doubts in Su Yu's eyes, Qian Zhongmou smiled and said, "This has nothing to do with your company itself, but the current market entry conditions for this fund, as well as the corresponding market entry procedures and rules, are still in the final stage. During the discussion, there is no clarity, so it will take a lot of time to go through this process."
"As for the process to go through completely, how much time will it take under the relevant authority..."
Qian Zhongmou thought for a while before continuing: "Initial estimate, it should take at least half a year, so I said, as long as you are willing to undertake, then there is time for team building, personnel recruitment, trading team training and other aspects. .”
"At least half a year?" Hearing this length of time, Su Yu became more aware of the nature of the fund and the specific source of funds that Qian Zhongmou said. He smiled and said, "Such a long market entry procedure and rules Approval, such a prudent decentralization of authority, won’t it be the ‘pension fund’ that has been rumored in the market one after another?”
Qian Zhongmou saw that Su Yu spoke directly without any scruple, coughed lightly, and said, "We can't disclose the relevant specific information at the moment."
Seeing that Qian Zhongmou did not directly refute, but only said something ambiguous, Su Yu knew that his guess was right, and said with a smile: "Understood, but... if our 'Yuhang Investment' company is willing to undertake this How should the agency management business of the fund, the specific transaction authority, and the fund management fee be calculated? This aspect...should not be confidential, right? I hope Mr. Qian can talk about it in detail!"
"The fund you have undertaken is a branch fund of the entire fund." Qian Zhongmou took Su Yu's words and explained, "We must delegate all the specific transaction authority, but regarding the risk control of fund transactions, necessary We are still responsible for the authority of net worth review."
"As for fund management fees..."
Qian Zhongmou stared into Su Yu's eyes, pondered for a while, and said, "Because of the special nature of this fund, I'm afraid it will be lower than Xiao Su's expectations in this respect."
"Of course, regarding the benefits in this regard, I will definitely respond to the leaders as much as possible and fight for you."
"Other agency management agencies, you get as much as you earn, and you won't make any discounts, and you won't be treated differently just because you are a private equity agency."
"I have no opinion on transaction risk control management and regular fund net worth review." Su Yu said, "But if the fund management fee is too low, it may not be able to cover the operating costs for us."
Although the company's business development requires the card of "state-owned background".
But if you hold this card, you have to make a substantial profit, and even if you operate at a loss on this managed fund project, the loss outweighs the gain.
"That's not the case." Qian Zhongmou said with a chuckle, "It will definitely not let you operate at a loss."
"Is there an annual net worth assessment standard and other qualification review standards for agency management?" Su Yu continued to ask.
Qian Zhongmou said: "Specific internal rankings are definitely necessary. As for other agency management qualification review standards...as long as we don't lose money to the limit of ordinary public offering funds, we will generally not suddenly lose money. cancel the management qualifications of institutions that have delegated authority."
"Understood!" Su Yu nodded slightly, and continued, "Under the net worth review standard, if the annual net worth performance exceeds certain expectations, do we, 'Yuhang Investment', as an acting management agency, have the authority to collect excess profits? "
"What do you mean by the annual net worth performance exceeding certain expectations?" Qian Zhongmou asked.
Su Yu smiled slightly and said: "For example, the annual net worth is more than doubled, or it is far beyond the net worth performance of other agency management organizations in the internal ranking of the annual net worth. Profit authority?"
"I will try my best to respond to the leaders and put forward your interest appeals." Qian Zhongmou said, "In my personal opinion, there is an excess profit. As an incentive bonus for agency operations, it is actually not bad, of course... ...All of this is just my personal opinion, and I can't guarantee at this moment whether some rules can be established in this regard."
Su Yu nodded and said, "Understand!"
Generally speaking, the meeting between the two parties this time is just a preliminary understanding of each other's intentions.
Even if Qian Zhongmou appreciates him and is optimistic about their market trading and investment research capabilities of 'Yuhang Investment', if they really want to take over the management authority of a [-]-billion-level branch fund in the planned investment project of the 'Pension Fund', that's not enough. There is still a long way to go and many difficulties to overcome.
Of course, despite this meeting, nothing can really be decided.
But this is also a stepping stone for their 'Yuhang Investment' to obtain the management authority of this [-] billion-level branch fund.
With this stepping stone, at least they have stood on the same starting line with many powerful state-owned asset management institutions, and have the opportunity for the company's development to change from quantitative to qualitative.
"But Xiaosu, don't worry..." Qian Zhongmou said, "As long as you can make the same performance as the main funds under your company, even if there are no relevant conditions, I will help you fight for it. Our country employs people. For A truly capable person will not let him be buried and let him be wronged."
"I naturally believe this." Su Yu smiled and replied.
"Now Mr. Qian is the Director of the Special Investment Strategy Department of the National Pension Fund." Zhou Boyang also answered at this time, "So, Mr. Su... Although we are not formally meeting or negotiating this time, Mr. Qian's There are some things that you can safely and boldly put in your heart.”
Hearing Zhou Boyang tell the truth, Su Yu responded with a smile: "Of course, I firmly believe what Mr. Qian said."
The three of them just chatted in such a rambling manner. Unknowingly, after three rounds of drinking, five flavors of food, and everyone enjoying themselves, it was around 2:30 in the afternoon.
Then, Su Yu and Qian Zhongmou continued to chat about some domestic and foreign economic and financial topics.
It wasn't until after 3 o'clock in the afternoon that they dispersed.
When he was leaving, Qian Zhongmou liked the young man Su Yu more and more. He tried his best to invite him to get together again when he came to Yanjing next time, and talk about the topics that were not finished today. Yu respected and appreciated this senior in the domestic financial industry after careful conversation and understanding, and couldn't help but agree to the other party's request.
Then, when he returned to his residence, he took a short rest.
At 5 o'clock in the afternoon, some rumors about the private meeting between him and Qian Zhongmou had begun to spread to many managers of large asset management institutions through some private channels, and even... Xie Zhenhua, head of Hua Capital Group, also got the news.
"Hehe, Qian Zhongmou actually fell in love with this little guy named Su from 'Yuhang Investment'." In the leisure garden of Xie's villa, Xie Zhenhua sat on a leisure chair and listened to the news reports from the assistants. Slightly surprised, he couldn't help but chuckled softly, "This little guy surnamed Su is developing very fast. It's really not easy, Lao Zhou... What do you think of this news? Is Xie Zhongmou going to beg for alms, or is it true?" Do you want to give the other party a piece of the big cake of 'pension funds entering the market'?"
Zhou Guohua, general manager of Anlan Fund Company, who was walking beside Xie Zhenhua, pondered for a while, and said, "'Yuhang Investment' is a private equity fund company, so it shouldn't be able to undertake the relevant authority of 'pension fund entering the market', right? But it was just transferred to 'pension fund'." Qian Zhongmou, the director of the special investment strategy department of the fund, paid a sudden visit to Yuhang and met with the person in charge of "Yuhang Investment" in private, which is really unusual."
"Who said that private equity institutions cannot undertake the management authority of 'pension funds entering the market'?" Xie Zhenhua smiled, "The power is in the hands of others. How to formulate strategies and how to maintain and increase the value of pension funds is their decision. , as long as the general policy is in line with the regulations, and the specific strategy is a matter of others, other people can't get involved, but I didn't expect... This piece of cake fell to the 'Yuhang Investment' In terms of organization, hehe... It seems that Wan Ting's vision, this time, is not wrong."
Zhou Guohua nodded and said, "If 'Yuhang Investment' can get a share of this cake, its future development will be really immeasurable."
"Qianlong Tengyuan!" Xie Zhenhua sighed.
"I also heard that this institution has been making frequent moves in the primary investment market recently." Zhou Guohua said, "Recently, it seems that they have taken a fancy to another Internet company from Yanjing."
Xie Zhenhua nodded and said: "I've heard about this too. It's an investment of 1.5 million U.S. dollars. In the case of the 'mobile Internet' trend, which has been hyped to a fever pitch, even our 'Zhenhua Capital' may not Such boldness, dare to make such a big gamble in this field."
"I heard that Ali Baba and Hongshan Capital were intercepted, and they forcibly intervened in the investment." Zhou Guohua said.
Xie Zhenhua responded: "Not necessarily, for this investment project, Ari Baba and Red Mountain Capital were a little hesitant to get involved, but I didn't expect the young man surnamed Su from 'Yuhang Investment' to be involved in the company. When the cash flow is already insufficient, they still dare to borrow a large amount from the Chinese Commercial Bank to participate in this project with an obviously high valuation. Speaking of which, has the Chinese Commercial Bank approved the 10 billion loan project they proposed to the Chinese Commercial Bank?"
Hearing Xie Zhenhua's inquiry, the assistant responded: "As far as I know, not so fast."
"It shouldn't be easy for such a large amount of loan to be approved for a loan like this?" Zhou Guohua said after thinking for a moment.
"Then release the news and let the head office of Huashang Bank notice it." Xie Zhenhua's eyes gradually brightened, "If this loan approval is stuck in the head office, what will happen?"
(End of this chapter)
"What?" Seeing Su Yu stunned, Qian Zhongmou smiled and said, "You think you can't eat?"
Hearing Qian Zhongmou's question, Su Yu hurriedly came to his senses, thought for a while, and replied: "It's not that I can't eat it, but I'm worried... our company will be directly pushed to the domestic market because of the business that Qian Zhongmou said. On the cusp of the asset management industry, it has become the target of public criticism."
"So... are you afraid?" Qian Zhongmou continued to ask with a smile.
Su Yu coughed lightly, and said: "That's not the case, I just feel a little strange, there are so many powerful asset management institutions in the country, why can Mr. Qian take a fancy to our small company 'Yuhang Investment'? And Mr. Qian The so-called [-] billion-level 'long-term mixed investment fund' should not be simple in terms of the nature of the fund itself and the source of capital management funds?"
A large-scale investment fund of this level, Su Yu guessed, must be among the national large funds.
As for the specific attributes of the fund and the source of its asset management funds, whether it is social security, pension, or the market stabilization fund managed by Huijin, he cannot guess before Qian Zhongmou reveals the truth, but no matter what the possibility is, as long as he can accept This order of 'Agent Fund Management' business is a substantial leap forward for the development of 'Yuhang Investment'.
At the same time, with the background of state-owned assets, it can be regarded as a talisman for the company's future development.
Therefore, as long as this business can be accepted, even if there will be gossip in the industry for a short period of time, in the long run, it will definitely only benefit the company's development, and there will be no harm.
"There are indeed many powerful asset management institutions in China." Qian Zhongmou responded with a smile, "But it is the only one that can make the performance of several main fund products under your 'Yuhang Investment', of course. , I found you not only because of the performance of several main fund products under your company, but mainly because of Xiao Su's understanding and judgment of the domestic financial market, which impresses me. It has indeed been validated by the market.”
"As for the nature and source of funds of the 'agency fund' I mentioned..."
Qian Zhongmou smiled, still did not reveal the truth, and continued: "Xiao Su, if your 'Yuhang Investment' company is willing to take this order and become the acting management agency of this fund, then you will naturally understand everything after that. Know."
"Since Mr. Qian has already talked about this point..." Su Yu answered with a smile, "Then we 'Yuhang Investment' can only be respectful rather than obedient."
Qian Zhongmou laughed and said, "I'm not forcing you!"
"Of course not." Su Yu responded, "In general, I have no way to refuse things that are beneficial to the company, but... currently our fund company's transaction team, strategy analysis, risk control team and other personnel are still Seriously insufficient, in a short period of time, I am afraid that it will be difficult to undertake such a large amount of capital transactions."
Qian Zhongmou laughed and said, "Even if your company admits the connection, it will take a long time for the management authority of this fund to be handed over to you. In terms of arrangements, everything is still in time.”
"Old Qian said that even if our company admits the connection, we have to wait for a long time. What does this... mean?" Su Yu asked, "This is not a short time, how long is it?"
Seeing some doubts in Su Yu's eyes, Qian Zhongmou smiled and said, "This has nothing to do with your company itself, but the current market entry conditions for this fund, as well as the corresponding market entry procedures and rules, are still in the final stage. During the discussion, there is no clarity, so it will take a lot of time to go through this process."
"As for the process to go through completely, how much time will it take under the relevant authority..."
Qian Zhongmou thought for a while before continuing: "Initial estimate, it should take at least half a year, so I said, as long as you are willing to undertake, then there is time for team building, personnel recruitment, trading team training and other aspects. .”
"At least half a year?" Hearing this length of time, Su Yu became more aware of the nature of the fund and the specific source of funds that Qian Zhongmou said. He smiled and said, "Such a long market entry procedure and rules Approval, such a prudent decentralization of authority, won’t it be the ‘pension fund’ that has been rumored in the market one after another?”
Qian Zhongmou saw that Su Yu spoke directly without any scruple, coughed lightly, and said, "We can't disclose the relevant specific information at the moment."
Seeing that Qian Zhongmou did not directly refute, but only said something ambiguous, Su Yu knew that his guess was right, and said with a smile: "Understood, but... if our 'Yuhang Investment' company is willing to undertake this How should the agency management business of the fund, the specific transaction authority, and the fund management fee be calculated? This aspect...should not be confidential, right? I hope Mr. Qian can talk about it in detail!"
"The fund you have undertaken is a branch fund of the entire fund." Qian Zhongmou took Su Yu's words and explained, "We must delegate all the specific transaction authority, but regarding the risk control of fund transactions, necessary We are still responsible for the authority of net worth review."
"As for fund management fees..."
Qian Zhongmou stared into Su Yu's eyes, pondered for a while, and said, "Because of the special nature of this fund, I'm afraid it will be lower than Xiao Su's expectations in this respect."
"Of course, regarding the benefits in this regard, I will definitely respond to the leaders as much as possible and fight for you."
"Other agency management agencies, you get as much as you earn, and you won't make any discounts, and you won't be treated differently just because you are a private equity agency."
"I have no opinion on transaction risk control management and regular fund net worth review." Su Yu said, "But if the fund management fee is too low, it may not be able to cover the operating costs for us."
Although the company's business development requires the card of "state-owned background".
But if you hold this card, you have to make a substantial profit, and even if you operate at a loss on this managed fund project, the loss outweighs the gain.
"That's not the case." Qian Zhongmou said with a chuckle, "It will definitely not let you operate at a loss."
"Is there an annual net worth assessment standard and other qualification review standards for agency management?" Su Yu continued to ask.
Qian Zhongmou said: "Specific internal rankings are definitely necessary. As for other agency management qualification review standards...as long as we don't lose money to the limit of ordinary public offering funds, we will generally not suddenly lose money. cancel the management qualifications of institutions that have delegated authority."
"Understood!" Su Yu nodded slightly, and continued, "Under the net worth review standard, if the annual net worth performance exceeds certain expectations, do we, 'Yuhang Investment', as an acting management agency, have the authority to collect excess profits? "
"What do you mean by the annual net worth performance exceeding certain expectations?" Qian Zhongmou asked.
Su Yu smiled slightly and said: "For example, the annual net worth is more than doubled, or it is far beyond the net worth performance of other agency management organizations in the internal ranking of the annual net worth. Profit authority?"
"I will try my best to respond to the leaders and put forward your interest appeals." Qian Zhongmou said, "In my personal opinion, there is an excess profit. As an incentive bonus for agency operations, it is actually not bad, of course... ...All of this is just my personal opinion, and I can't guarantee at this moment whether some rules can be established in this regard."
Su Yu nodded and said, "Understand!"
Generally speaking, the meeting between the two parties this time is just a preliminary understanding of each other's intentions.
Even if Qian Zhongmou appreciates him and is optimistic about their market trading and investment research capabilities of 'Yuhang Investment', if they really want to take over the management authority of a [-]-billion-level branch fund in the planned investment project of the 'Pension Fund', that's not enough. There is still a long way to go and many difficulties to overcome.
Of course, despite this meeting, nothing can really be decided.
But this is also a stepping stone for their 'Yuhang Investment' to obtain the management authority of this [-] billion-level branch fund.
With this stepping stone, at least they have stood on the same starting line with many powerful state-owned asset management institutions, and have the opportunity for the company's development to change from quantitative to qualitative.
"But Xiaosu, don't worry..." Qian Zhongmou said, "As long as you can make the same performance as the main funds under your company, even if there are no relevant conditions, I will help you fight for it. Our country employs people. For A truly capable person will not let him be buried and let him be wronged."
"I naturally believe this." Su Yu smiled and replied.
"Now Mr. Qian is the Director of the Special Investment Strategy Department of the National Pension Fund." Zhou Boyang also answered at this time, "So, Mr. Su... Although we are not formally meeting or negotiating this time, Mr. Qian's There are some things that you can safely and boldly put in your heart.”
Hearing Zhou Boyang tell the truth, Su Yu responded with a smile: "Of course, I firmly believe what Mr. Qian said."
The three of them just chatted in such a rambling manner. Unknowingly, after three rounds of drinking, five flavors of food, and everyone enjoying themselves, it was around 2:30 in the afternoon.
Then, Su Yu and Qian Zhongmou continued to chat about some domestic and foreign economic and financial topics.
It wasn't until after 3 o'clock in the afternoon that they dispersed.
When he was leaving, Qian Zhongmou liked the young man Su Yu more and more. He tried his best to invite him to get together again when he came to Yanjing next time, and talk about the topics that were not finished today. Yu respected and appreciated this senior in the domestic financial industry after careful conversation and understanding, and couldn't help but agree to the other party's request.
Then, when he returned to his residence, he took a short rest.
At 5 o'clock in the afternoon, some rumors about the private meeting between him and Qian Zhongmou had begun to spread to many managers of large asset management institutions through some private channels, and even... Xie Zhenhua, head of Hua Capital Group, also got the news.
"Hehe, Qian Zhongmou actually fell in love with this little guy named Su from 'Yuhang Investment'." In the leisure garden of Xie's villa, Xie Zhenhua sat on a leisure chair and listened to the news reports from the assistants. Slightly surprised, he couldn't help but chuckled softly, "This little guy surnamed Su is developing very fast. It's really not easy, Lao Zhou... What do you think of this news? Is Xie Zhongmou going to beg for alms, or is it true?" Do you want to give the other party a piece of the big cake of 'pension funds entering the market'?"
Zhou Guohua, general manager of Anlan Fund Company, who was walking beside Xie Zhenhua, pondered for a while, and said, "'Yuhang Investment' is a private equity fund company, so it shouldn't be able to undertake the relevant authority of 'pension fund entering the market', right? But it was just transferred to 'pension fund'." Qian Zhongmou, the director of the special investment strategy department of the fund, paid a sudden visit to Yuhang and met with the person in charge of "Yuhang Investment" in private, which is really unusual."
"Who said that private equity institutions cannot undertake the management authority of 'pension funds entering the market'?" Xie Zhenhua smiled, "The power is in the hands of others. How to formulate strategies and how to maintain and increase the value of pension funds is their decision. , as long as the general policy is in line with the regulations, and the specific strategy is a matter of others, other people can't get involved, but I didn't expect... This piece of cake fell to the 'Yuhang Investment' In terms of organization, hehe... It seems that Wan Ting's vision, this time, is not wrong."
Zhou Guohua nodded and said, "If 'Yuhang Investment' can get a share of this cake, its future development will be really immeasurable."
"Qianlong Tengyuan!" Xie Zhenhua sighed.
"I also heard that this institution has been making frequent moves in the primary investment market recently." Zhou Guohua said, "Recently, it seems that they have taken a fancy to another Internet company from Yanjing."
Xie Zhenhua nodded and said: "I've heard about this too. It's an investment of 1.5 million U.S. dollars. In the case of the 'mobile Internet' trend, which has been hyped to a fever pitch, even our 'Zhenhua Capital' may not Such boldness, dare to make such a big gamble in this field."
"I heard that Ali Baba and Hongshan Capital were intercepted, and they forcibly intervened in the investment." Zhou Guohua said.
Xie Zhenhua responded: "Not necessarily, for this investment project, Ari Baba and Red Mountain Capital were a little hesitant to get involved, but I didn't expect the young man surnamed Su from 'Yuhang Investment' to be involved in the company. When the cash flow is already insufficient, they still dare to borrow a large amount from the Chinese Commercial Bank to participate in this project with an obviously high valuation. Speaking of which, has the Chinese Commercial Bank approved the 10 billion loan project they proposed to the Chinese Commercial Bank?"
Hearing Xie Zhenhua's inquiry, the assistant responded: "As far as I know, not so fast."
"It shouldn't be easy for such a large amount of loan to be approved for a loan like this?" Zhou Guohua said after thinking for a moment.
"Then release the news and let the head office of Huashang Bank notice it." Xie Zhenhua's eyes gradually brightened, "If this loan approval is stuck in the head office, what will happen?"
(End of this chapter)
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