The Road to Rebirth Finance

Chapter 425 A Late Promise

In 2016, the investable assets of the public increased day by day, and the private equity industry developed rapidly throughout the year.

In the past few days when Junshi No. [-] was suspended, the fund industry association and the year-end statistics have also been officially released.

In 2016, the subscription scale of the private equity fund industry reached 10.24 trillion yuan in the same period, an increase of 101.88% over the previous year. Among them, the scale of securities private equity, known as "sunshine private equity", increased by 1.29 trillion yuan.

The overall scale of public offering funds is 9 trillion yuan, which is the first time that the scale of domestic private offerings has exceeded the scale of public offerings.

However, compared with the substantial growth in scale, the yields of public equity funds and private equity funds in 2016 were just the opposite, and both failed to obtain positive returns.

Authoritative financial statistics show that due to the downturn in the stock market in 2016, the average return of the industry in 2016 was -6.81% and -3.35% for stock strategy public offering fund products and private equity fund products.

As for the stock and hybrid public funds in the same period, the average loss was around 10%.

On the one hand, the ever-expanding scale means that fund companies can earn more management fees; on the other hand, the answer sheets handed over to investors are both losses throughout the year.

At this time, there was a fund product in the market that had been excellent in performance since its establishment and had maintained a subscription limit for a long time, and suddenly said that it had no limit.

It's just a matter of saying that you can take as much money as you have. The impact this has had on the private equity industry and investors is extremely shocking.

Investment, for the most part, is a blind obedience, just as retail investors are used to chasing popular stocks.

Established in 2015, Junshi No. 2017 suddenly decided to open subscriptions on the first day of [-], just like the opening of a popular stock with two consecutive boards.

All of a sudden, the big players are gearing up!
After the official liquidation of Junshi No. 1 was completed, it was already Friday, January 6, and the trading of the first week of 2017 had also ended.

The Shanghai Composite Index ended the five-day trend that started two trading days before New Year’s Day. It ended on Friday, when the Shanghai Composite Index fell 0.35% on that day, and the index was fixed at 2154.32 points.

The Shanghai Composite Index shrank and rose by 1.63%, and Junshi No. 1, whose net value has returned to the [-] position, has officially opened for subscription since today’s close.

The purchase process starts today and continues until midnight on Monday, January 1th, which lasts for a week.

The normalization of the net value of the fund will not affect the market value of the stocks in it, which can be understood as a high transfer of similar stocks.

When the total amount remains the same, change the net value of the fund to 1 yuan, and the shares of the fund held will change accordingly. For example, the net value before normalization is 1.2, and you have 1 shares. Then, after normalization, the net value When it becomes 1, your share becomes 1.2 copies.

The purpose of doing so is to unify management and reduce operating costs; at the same time, it also puts investors on the same starting line, and the investment environment is relatively fairer.

As for the share of the original holders, Junshi Fund has already deducted it simultaneously, and it is this part that is mainly counted during this period.

From the perspective of investors, Junshi Capital settled ahead of schedule even though it was bound to double, and gave up to 20% of the profit. Everyone was naturally willing to cooperate with Junshi Capital.

After the settlement, Junshi No. 21.0685 has a total of [-] billion yuan in management expenses and profit sharing. The income of a single fund exceeds half of the A-share listed companies.

The 20% profit sharing, calculated based on the scale at the time of settlement, is as high as 6.47 million yuan, a rather terrifying figure, which is equivalent to paying dividends without charging management fees.

While the outside world was shocked, they also felt Gu Junhao's arrogance. If you don't want so much money, you don't want it. Many people say that Gu Junhao is being taken advantage of.

Some people even speculated that Gu Junhao was spending money to buy peace.

In fact, Gu Junhao's seemingly heroic actions, apart from the company's point of view, also have some helplessness.

Without ex-rights, you can't get so much income, and the official redemption time, you can't stop people from redeeming for no reason.

At that time, in the face of huge benefits, there must be many people who will choose to redeem even at the risk of being rejected later.

Under such circumstances, the money that should not be received is still not available, and in order to expand the scale later, it is impossible for Gu Junhao to do the thing of rejecting the original part of the redemption.

This kind of impact is too bad, giving people a feeling that capital is oppressing ordinary investors. It makes no sense to prevent me from redeeming when the time comes, and it also makes no sense to prevent me from reinvesting.

Doing so will have a very bad impact on the company's reputation, and it will easily offend some successful local people.

During the meeting on New Year's Day, the main discussion was the pros and cons of ex-rights and non-exclusion rights.

Among the 6.47 million yuan of profit sharing this time, even if there is a large part of it, you still have the risk of not getting it. In this case, it is better to be generous.

In many cases, there is something to gain.

Since there is a formal online subscription channel, the contract template is also ready-made. According to the pre-Junshi No. [-], some investors choose the online subscription mode.

However, most investors still choose to get used to the offline subscription mode, especially some customers with large subscription amounts.

No, just after three o'clock, Gu Junhao received a call from the front desk, and several old acquaintances came to the door.

Xu Dong, Qiu Xingyuan; the other one is also an old acquaintance, but his arrival surprised Gu Junhao.

This unexpected visitor was Gu Junhao's former boss.

"Mr. Zhang, why are you here? Welcome!" Gu Junhao smiled and shook hands with Lao Zhang, who was the oldest among the three.

Afterwards, he greeted Xu Dong and Qiu Xingyuan: "Brother Xu, Brother Qiu, welcome."

Gu Junhao was not too surprised when Xu Dong and Qiu Xingyuan came over. Xu Dong was a client of Junshi No. [-], and now he was in high spirits.

Xu Shen's IPO has entered the listing assistance process, and the old Xu, who is not short of money, now has a red face, a smile on his face, and his eyes are full of energy.

As for Qiu Xingyuan, since Junshi Capital invested in his company, the two who met in private from time to time have also become acquainted.

Although Gu Junhao does not interfere with the specific operations of his company, after all, it is from 2022, and there are some ideas that look good today, and I still remember some of them.

In his previous life, Gu Junhao preferred to invest in stocks of automobiles and auto parts after the end of the new energy market. He has made a good profit and occasionally calls himself an "auto man".

With these experiences, it is not uncommon to remember some advanced management methods or other technology introductions nowadays.

In addition, don't forget that after rebirth, Gu Junhao worked in the R&D department of Deye for half a year. Although Deye doesn't make auto parts, Gu Junhao has seen a lot of molds.

Through several private exchanges, Qiu Xingyuan felt that this kid had something, not just about stock trading.

This is generally the case for people with a technical background. After you are recognized, it is easier to talk, so Qiu Xingyuan has also become Brother Qiu.

When they came to the office, they saw a pregnant woman sitting in the office, and the three of them were taken aback. Fortunately, Xu Dong had met Zhang Yiru before, so he immediately introduced it to the other two.

Gu Junhao also introduced the three to Zhang Yiru one by one, and Zhang Yiru responded with a smile.

After exchanging pleasantries for a while, Gu Junhao brought the three of them to the tea room; there was no way, these local bosses liked to do this, so Gu Junhao could only pinch his nose and designate a private tea room for himself in the office area.

"Bosses, the tea here is not as good as yours, don't be disgusted." Gu Junhao smiled and poured tea for the three of them.

"It's been a while since I've been here. Your company has changed a lot." Xu Dong spoke first.

"In terms of changes, I can't catch up with Brother Xu. I should go to ring the bell this year."

"Where is there, there is no way to tell about this matter, it is so strict now." Although Xu Dong's mouth is modest, the smile on his face cannot be concealed.

After chatting for a while, Qiu Xingyuan couldn't bear it first: "Brother, we are here this time to apply for Junshi No. [-]."

"Um, I can understand Mr. Zhang and Brother Xu's subscription, but Brother Qiu, do you have that much money? Are you the poorest here?"

"Hahaha, my brother's mouth is still so poisonous, so he looks like a young man!" Xu Dong laughed loudly, and Lao Zhang couldn't help laughing, he had never seen this side of Gu Junhao in private.

Qiu Xingyuan gave Gu Junhao a blank look and said: "What's wrong with being poor, don't tell me it's easy to kill, I definitely can't get 500 million, but I can still get 100 million, and I'll take Lao Xu's share."

"Haha, just kidding, just kidding, you are welcome." Gu Junhao continued the tea ceremony for Qiu Xingyuan with a smile.

Then, he looked at Lao Zhang again: "Mr. Zhang also intends to apply for Junshi No. [-]?"

"Of course, have you forgotten what we said back then?" Lao Zhang was the oldest, and he wasn't quite used to Gu Junhao's private side, obviously not as open as the other two.

"Of course I haven't forgotten it. I didn't expect Mr. Zhang to remember it. On behalf of myself and Junshi Capital, I would like to thank Mr. Zhang."

"Mutual benefit, this time I heard what Lao Xu said, so let's come and visit your company together."

"No problem, I will arrange for someone to take the three of you to visit later."

"Why don't you ask how much we voted?" Xu Dong asked Gu Junhao curiously.

"Any amount is fine, and all comers are welcome." Gu Junhao said with a smile, the three of them rushed over immediately, and the amount should not be small.

But no matter how many, Gu Junhao wouldn't be too surprised, after all, he has already seen Gu Junhao who invested 6 million US dollars at a time.

"Well, the realm of people who have seen 6 million US dollars is different, so let me tell you." Xu Dong can probably guess Gu Junhao's thoughts.

"Brother Xu, tell me."

"For me, Xiaowanwan, bring Lao Qiu together for 2000 million yuan, and Lao Qiu is 100 million yuan, don't you dislike it?" Xu Dong said with a smile.

"How come, thank you very much Brother Xu and Brother Qiu."

"You don't think I'm poor now?" Qiu Xingyuan laughed.

"Where is it, just kidding, my younger brother will set up a table tonight, Brother Qiu, Mr. Zhang and Brother Xu will show their face and give them a chance."

"It's almost there."

When Qiu Xingyuan stopped entangled in this topic, Gu Junhao looked at Old Zhang and said, "How much is Mr. Zhang planning to purchase this time?"

Lao Zhang glanced at Gu Junhao, and said calmly, "One hundred million."

(End of this chapter)