The male god of magic capital

Chapter 173 174 Not selling for 280 yuan, but selling for [-] yuan!
Thanks to the asset scale of Chengtian public offering fund reaching 600 billion yuan, the stock market opened on Thursday the next day, and the share price of Chengtian holding company soared, breaking through 15000 yuan per share, all the way to 15500 yuan per share, and the market value reached 155 billion yuan. The family foundation holds 75% of the shares, worth 116.25 billion.

Closing in the morning!
The comments below Chengtian Holding Company were raging.

"My mother, the stock price of Chengtian Holdings is 15500 yuan per share!"

"Hoohoo, it's been less than a year since Chengtian Holdings went public, and its stock price has soared from 400 yuan a share to 15500 yuan a share. It's absolutely terrifying!"

"Too fierce!"

"It's really a super bull stock!"

"I don't know if the share price of Chengtian Holdings will reach 4 yuan this year?"

"Maybe maybe!"

"The financial god of Shanghai is so arrogant, it must be no problem for the market value of Chengtian Holding Company to exceed 400 billion."

At this time, someone questioned: "But the subsidiaries of Chengtian Holding Company are all bad, can they reach a market value of 400 billion? I think public funds and private funds still have a ceiling. When they reach the 1000 billion level, it will be difficult to develop at a high speed. After all, it is not easy for a fund at the level of 25 billion to make a quick profit. I calculated that the scale of Chengtian Public Fund has reached 400 billion, and the annual management fee is only [-] billion, so the market value will not reach [-] billion, right?"

Someone immediately retorted: "Let me go, why don't you take a look at the scale of Chengtian Private Equity Fund, this Chengtian Private Equity Fund makes so much profit at one time, are you blind?"

Some people echoed: "Moreover, Cheng Tian Private Equity Fund not only shares 20% of the profits, but also management fees."

"The scale of Chengtian Private Equity Fund and Chengtian Public Fund continues to increase, and the share price of Chengtian Holdings has risen to 4 yuan every minute this year."

However, some people still questioned: "The bigger and bigger the scale of Chengtian Private Equity Fund, the harder it is to make money. It is impossible to keep it so high. It is normal for the profit to be lower than 10% in the future. So I said that the share price of Chengtian Holdings Less than 4 yuan per share."

Some people also echoed: "Yes, the scale of assets is getting bigger and bigger, just like Fang Yida, Southern Fund, these assets scale has reached more than 2 trillion yuan, look how ordinary their performance is, in the future Chengtian Private Equity Fund and The same is true for Chengtian Public Fund, the market is so big, if Chengtian Public Fund wants to continue to grow, it has to grab big clients from other hundreds of billions of large public funds, do you think it is possible?"

"Yeah, yeah, it's basically impossible to grab clients from other big funds."

"It is basically impossible for those big client investors to maintain a long-term cooperative relationship with their funds, or even an interest relationship."

"Although the performance of Chengtian Public Fund is very stable, it is not the best performance. Its performance is only particularly good in the bear market. There are still many public funds in the market that perform better than Chengtian Public Fund in the bull market. Yes, such large institutions will not choose Chengtian Public Fund."

At this time, someone said: "Hehe, according to the latest data from the China Fund Industry Association, the total size of public funds has already exceeded 26 trillion. The financial god of Shanghai is so powerful, and it is easy for a public fund with a level of 5000 billion." Song, more than [-] billion in the future will not be a problem.”

As soon as these words came out, the comment area took a deep breath, followed by a lot of doubts.

Everyone is discussing Chengtian Public Fund, Chengtian Private Equity Fund, and the future stock price of Chengtian Holdings. From time to time, they criticize how bad Chengtian Holdings' subsidiaries are.

As for Chengtian Holding Company, in the CEO's office, Luo Cheng was tasting tea.

The scale of Chengtian Public Fund has reached 600 billion, and the market value of Chengtian Holdings has reached 155 billion, but it is still far from Luo Cheng's inner expectations.

Looking at Chengtian Holdings' comments below, he couldn't help laughing.

1000 billion scale?
400 billion market value?
His goal is to let Chengtian Public Fund surpass the largest Fangyida Fund in the country, Southern Fund!

The size of Yida Fund and Southern Fund is more than 2 trillion yuan, and the size of Chengtian Public Fund is more than [-] trillion yuan.

At present, Chengtian Public Fund is only holding a heavy position in the medical sector, and will issue funds in other sectors in the future, and then raise funds.

There are so many sectors in A-shares, but not just the medical sector!
However, it is not easy to increase the scale rapidly. Everything is based on performance. In fact, the stock market is not good these days. The net value of many public offering funds is retreating. The larger the public offering, the more severe the reduction in asset size.

For example, Fang Yida Fund, Southern Fund, has a scale of more than 2 trillion yuan. When the stock market plummets in many sub-funds of its sub-funds, if it holds 1.5 trillion stock assets and the stock market falls by 10%, there is a high probability that it will shrink. 1500 billion in assets, of course they may also short some stock index futures for hedging, but in most cases they can only resist the plunge of the stock market.

In fact, many public offering funds above a scale of 300 billion or [-] billion are not very suitable for hedging, because they hold a large number of stocks. If they continue to short stock index futures, the Shanghai and Shenzhen [-] index futures are linked to the stock market, and the more short they are, the more they will be short. , driving the stock market to fall even harder.

The more serious the shrinkage of stock assets on their books is, so in most cases, they can only resist the plunge of the stock market.

For example, if Fang Yida Fund holds 1.5 trillion stock assets, it judges that the stock market will turn around and plummet next time. It is impossible for it to short stock index futures worth 1.5 trillion. It is not only the China Securities Regulatory Commission looking for it, but other financial institutions in the market. It will also block it and blow it up.

Shorting stock index futures has high leverage, which is very dangerous, and it is easy to liquidate the position. The asset scale is large, but it is not easy to operate, but the management fee is high. The scale is 1 trillion, and a management fee of 200 billion is charged a year. A company with hundreds or even thousands of people can operate.

How much of these employees' wages and bonuses account for 200 billion?

It can be seen that this public offering fund is a huge profit for the bulls. The larger the scale, the higher the management fee. They only need to ensure a stable one.

And "stability" is also the way for Chengtian public offering funds to go. In a bull market, there may be no huge profits, but in a bear market, losses are also minimized. This is stability.

Nowadays, the training of traders in the public fund management department is also in such a "steady" direction. Future public fund managers will be trained by Chengtian Holdings itself and will not be recruited from outside.

The same is true for proprietary traders of private equity funds, which will not be recruited from outside.

Now that the size of the private equity fund has reached 200 billion, it is still in a short position. Luo Cheng keeps a close eye on the stock price of Pien Tze Huang.

After the market opened in the afternoon, the market weakened, and the stocks in the medical sector also fell. The stock price of Pien Tze Huang Company fell, and the stock price of Chengtian Holdings also fell, all the way down to 15000 yuan per share.

And the stock price of Pien Tze Huang has dropped to 300 yuan per share, which is the area Luo Cheng expects to build a position.

Thinking that Dah Sing Fund held a lot of shares in Pien Tze Huang Company, Luo Cheng called.

"Mr. Huang, are you interested in selling the shares of Pien Tze Huang Company?"

"The market price is 300 yuan per share."

Huang Hanxing rebuffed straight away: "I won't sell it. The stocks we hold are bought at 400 yuan a share. How can I sell them to you for 300 yuan a share!"

Before Luo Cheng sold the shares of Pien Tze Huang Company and Aier Ophthalmology to him at a discount, he thought he was getting a bargain, but he didn’t expect that he would take over the offer at a high position. Now Luo Cheng wanted to buy it back at a price of 300 yuan a share, and Huang Han was suddenly very angry , Impossible to sell!

Luo Cheng laughed inwardly: "Mr. Huang, you can find me anytime you have figured it out."

Recently, the market has fallen sharply, and many sectors have been miserable. Christians and institutions are redeeming their investments, and Dah Sing Fund is definitely not listed.

The performance of the public funds under the Daxin Fund is poor, and the private equity funds under the Daxin Fund are still unclear.

Huang Hanxing: "Mr. Luo, I really can't sell it to you at a low price. The stock price of Pien Tze Huang can't go down at 300 yuan per share. This is the key support area. Other public funds or private funds, The securities companies must be here to buy the bottom, just like you want to buy the stock of Pien Tze Huang Company here!"

Luo Cheng smiled and said, "We'll wait and see!"

The next day, Friday, the stock market continued to fall, and the net value of Chengtian Public Fund also retreated a little.

The stock price of Pien Tze Huang Company fell to 280 yuan per share.

Huang Hanxing called.

This Daxin Fund has suffered a lot of redemptions and needs liquidity, and the stock price of Pian Tze Huang has fallen below the support area of ​​300 yuan per share. It fell to 200 yuan a share.

"Mr. Luo, our private equity funds and public equity funds under Dah Sing Fund hold a total of 84 billion worth of Pien Tze Huang stock. If you want to buy it, you can pay a premium!"

Luo Cheng smiled and said: "Mr. Huang, the stock price of Pien Tze Huang will most likely continue to fall in the future. I don't even plan to buy the stock of Pien Tze Huang. If you want to sell it to me, you have to discount it. Hey, yesterday I offered you a price of 300 yuan a share, but if you still don’t sell it, the stock price has dropped to 280 yuan a share today.”

Yesterday, Huang Hanxing kept saying that he would not sell it. At that time, Luo Cheng asked for 300 yuan a share. Today, the stock price of Pien Tze Huang has dropped to 280 yuan a share.

Hearing Luo Cheng's taunting words, Huang Hanxing was so angry that his hands were trembling. He secretly regretted that he hadn't decisively sold it to Luo Cheng yesterday at 300 yuan a share. If it reaches 200 yuan per share, Luo Cheng's private equity fund will definitely suffer a big loss.

Hey, he didn’t make a good judgment. He thought that 300 yuan a share was the key support area, and the stock price couldn’t fall down. Unexpectedly, it fell below 300 yuan a share the next day, and the market was still very weak. Falling, there is a high probability that it will fall to 200 yuan a share.

"Mr. Luo, I was just unwilling to lose money yesterday. I didn't think about what I said. Now I have figured it out. The market price is 280 yuan a share. How about selling it to you?"

At this moment, Huang Hanxing is expecting Luo Cheng to take over.

Luo Cheng smiled and said, "It's worth 84 billion, how about a discount of 80 billion?"

Mr. Huang immediately vomited bitterness and said weakly: "Mr. Luo, our Daxin Fund has been redeemed with a large amount of money. You can't make trouble. 84 billion shares can't be lost. No matter how little, I can only go to Fang Yi." , Southern Fund, or Wells Fargo Fund, or Credit Suisse Fund.”

After Luo Cheng pondered for a few seconds, not now, Fang Yida, Southern Fund, Wells Fargo Fund, Credit Suisse Fund and other large public funds may be next.

In fact, the position of 300 yuan per share is the expected warehouse opening area of ​​Chengtian Private Equity Fund, and you can buy it at a price lower than 300 yuan.

Immediately, Luo Cheng said: "That's fine, just follow the current market price."

Subsequently, Chengtian Private Equity Fund bought 280 million shares of Pien Tze Huang held by Dah Sing Fund at a price of 3000 yuan per share, worth 84 billion.

300 yuan does not sell 280 yuan sell!
This makes Huang Hanxing a joke in the public fund industry.

"Hehe, this Huang Hanxing once bought a lot of Pien Tze Huang stocks at a price of 400 yuan a share, including Chengtian Public Fund, and now he is locked up."

"Yeah, the loss is huge, and there have been a lot of redemptions. Before Chengtian Holdings gave 300 yuan a share, they didn't sell it, but now they sell it at 280 yuan a share."

"Why don't you wait until 250 yuan a share to sell?"

"Haha, that's really funny."

(End of this chapter)