King of Capital

Jinyou Fund has a very weak presence, even not as good as Liu Ying’s plump and perky buttocks.

Xie Jingxing returned to the company office with the remaining warmth of the incense on his fingertips, and scribbled in his handwriting the approval of the investment decision application submitted by the group's self-operated FOF business group to initiate investment in it.

The two new active and quantitative funds each invested 20% totaling 8 million yuan.

"Ask Mr. Tang and Mr. Yan to come over after the meeting."

Xie Jingxing handed the document to Chen Xi and asked thoughtfully, "I remember the China Securities Regulatory Commission consulted me about an investigation and approval of 'private equity to public equity'. Did I take notes at that time?"

"It should be filed in the general office. I'll go get it." Chen Xi responded promptly.

After the stock market crash last year, Xie Jingxing took up the title of "part-time vice president" of the Securities Association. As a result, all the branch professional committees under the association, except for the Equity and Alternative Investment Professional Committee where he specifically served, did not have a chairman.

It would be awkward for Juntai's general manager and CICC Capital's president and several of his colleagues to be the chairman, and it would be a bit embarrassing to let the 25-year-old Xie shoulder this responsibility.

The older brothers thought hard and decided to just give everyone the title of deputy director!

It can be said that his career was hindered by his youth, but he was not shy about handling specific administrative affairs, and he was invited to meetings to solicit opinions.

"Expert Opinion Collection Meeting on Approving the Establishment of Pengyang Fund Management Co., Ltd."

After a while, Chen Xi came back. Xie Jingxing took the paper notes and looked through them, roughly recalling the details.

The year he returned to China, the regulator approved the conversion of private equity funds into public funds, with the hard condition of managing 20 billion yuan of funds and operating well for three consecutive years until last year when Pengyang filed the first private-to-public conversion application.

This fund manages bonds and fixed income worth 400 billion yuan, making it one of the top heavyweight players in private equity.

The CSRC encourages and supports the establishment of a model and the completion of the review process as soon as possible. It is estimated that a formal approval will be made within this year.

"Jinyou will reach the full three-year operating period next summer. We applied in 2017 and received the license at the end of 2018. The entire approval process was relatively complicated, but the timing was in sync with the group's asset management strategy."

Xie Jingxing put down his notes: "Directly acquiring a public fund or directly registering a public fund, it's more or less within this time frame."

“Two questions: Is public offering necessary? If so, when should it be done?”

Tang Man and Yan Wenchuang looked at each other in confusion when they were asked this question as soon as they walked into the office. They should have consulted Zheng Zhe's opinion on this matter first, unless President Xie had his own decision.

Then what are you asking?
"With the current mixed public and private licensing for asset management businesses, it is better to apply for a public offering license. The key is whether it is necessary at the business level." Tang Man refined the question.

The group is already in the process of preparing to apply for licenses related to asset management business, including consciously pouring resources into the regulatory approval of securities and other businesses last fall.

These things can be classified by the source of funds, which are nothing more than privately raising money from rich families and publicly raising money from poor people.

Asset management requires a large number of licenses, and any kind of money can be raised in both public and private forms; the same is true on the investment side, in the primary and secondary markets, even if you go to Myanmar to buy stones, you can invest in any product.

First of all, excluding the necessity of the group's fundraising demand for public offerings, the rest naturally comes down to the investment business itself - is it necessary?
Yan Wenchuang stared at the handwritten notes next to his boss and said carefully: "There are no more than ten private equity funds with a scale of 10 billion yuan in the market. The upper limit is obvious. In the future, the group will develop its asset management business and will inevitably move towards public securities funds."

"Time expectation." Xie Jingxing asked emphatically.

Yan Wenchuang shook his head: "I have limited knowledge of this business. From the perspective of brand building, a ten-year plan is more ideal."

"Then don't think about it for now! The overall market size of secondary private equity is expected to grow optimistically. Jinyou will first cultivate a sound business team, and then support the group in developing asset management business." Tang Man expressed her attitude.

Xie Jingxing rested his chin on one hand, looked at the two people who were singing the same tune, and said without comment: "We will discuss it in the next quarter."

Tang Man glanced at Yan Wenchuang without leaving any trace, and the latter also looked at her secretly, and they both nodded in agreement tacit understanding.

It is well known that most public funds in the secondary market earn fixed management fees without doing anything. The root cause is that regulatory regulations have crushed their pursuit of absolute returns.

This is one of the few financial management channels open to the general public. At industry gatherings, funds with a scale of less than 300 billion yuan sit at the children's table, while top funds at the first table are worth trillions of yuan.

Private equity firms with tens of billions of dollars in scale can eat and drink more freely than their peers.

Due to the differences in funding sources and size between the two parties, the former is not allowed to engage in the kind of high-leverage, high-holding, ten-fold increase in monster stock investments that Xie Jingxing personally operates.

The supervision is specific to the proportion of holdings, what can be invested and what cannot be invested, and letters are often sent to require reports and explanations.

In short, for ordinary people who invest a few hundred to hundreds of thousands of yuan, it doesn't matter if they lose breakfast, but they must avoid losing all their money.

After raising funds for two new funds, Jinyou managed funds worth 60 billion yuan, which has not yet reached the upper limit of securities classification. It has not touched the two sectors of fixed income bonds, currencies and futures that can accommodate tens of billions of funds.

Why rush to switch to public offering, which would involve the group investing a lot of resources and energy into entering a completely new field that may not be more profitable than the current one?

Only by playing the role of a small transparent person and expanding the business boundaries step by step, and being aware of reserving a talent pool for the group's asset management business in the long term, can one be worthy of sharing last year's 8700 million performance dividend bonus with more than a dozen people in the team.

From Xiyou's perspective, the distinction between the primary and the secondary should not be too clear. The group's self-owned pension fund management is in the womb, and it is young and strong and it is natural to support this family...

"The clouds are in the blue sky and the water is in the bottle."

Xie Jingxing sent Tang Man and the other two away, took out a piece of white paper and quickly wrote down the list, and finally ended with a classic line from Master Fei Yuan.

He relaxed and leaned lazily on the chair: "Any ideas?"

“It’s very balanced, covering administration, research, and business.”

Chen Xi stood in front of his desk and carefully checked the list. The group's top five decision-making team, including Liu Qiming, Tang Man, and Zheng Zhe, also included the head of a research department that was being established.

The headhunter helped me contact several potential talents, the heads of the sell-side research departments, who were of a slightly higher level and difficult to poach.

"Notify Liu Qiming to draft the management charter for the decision-making group and give Zheng Zhe some early warning."

Xie Jingxing put away his notes in a bored manner and asked Chen Xi about the content of the conversation. She was not aware of it.

The founder of Pengyang Fund was the director of the fixed income department of Hua Xia Fund, a former public fund star. He set up his own company, jumped from public funds to private funds and then back to public funds. This route is truly profit-driven.

You can earn a lot from private equity while working, but when your business grows to a certain scale, you start to want the influence of public equity and realize more tangible and intangible benefits.

Before joining the company, Zheng Zhe was in the stage of seeking independent private equity. Xie Jingxing didn't know what he was thinking now.

In fact, profit sharing cannot significantly help fund managers improve their investment returns. In the domestic securities market, the more active you are, the easier it is to lose money...

It is too early to engage in large-scale public offerings now. It is more practical to use small businesses to support the team and provide blood supply to the group.

Zheng Zhewen tried to calm Tang Man down, and if it didn't work he would come out to persuade her. Old Zheng had been using this for more than two years and was quite used to it.

"It's hard to be successful, and it's hard to take care of family affairs, ah."

Xie Jingxing sighed with melancholy as he sorted out the structure of the strategic research department. There was no need to say much about the macroeconomics and policy group, the finance and technology research group followed the quantitative model approach, and finally the various industry groups.

Consumption, energy, finance and so on, providing transaction support for all the Group's businesses.

[Honey, when will you get off work today? ]

As it was getting dark outside the window, Yu Tong sent a message looking for an excuse to avoid going home alone and being nagged.

[How about you come to the company to accompany me?] [We just entered the city, let's go out for dinner and watch a movie, send me a message when you're done.]

A video popped up after the text message. The lights in the car were dim and Yu Tong was sitting in the back seat. The woman next to her was dozing off with her head against the window.

It takes eight or nine hours to drive from Shanghai to Huangshan and back, and then climb mountains, swim and run to the fields to admire the rape flowers. It is really tiring.

[Is it convenient for me to go? ]

The piles of folders were enough to keep them up all night, so Xie Jingxing stretched out and gave up.

Yu Tong returned to the restaurant's location in seconds. He couldn't help but smile, quickly packed up his things, turned off his computer and went off work.

…………

"Sea urchin, sea urchin, sea urchin, I can eat eight sea urchins!"

The girl with a bun jumped out of the high-clearance Wrangler SUV and drooled sleepily.

"Okay, okay, let's go eat now."

Read the error-free version at 69shuba! 6=9+shu_ba is the first to publish this novel.

The woman with straight long legs wearing Martin boots and straight jeans took her arm in a funny way, turned her head and said to her boyfriend beside her: "Brother Yu, you go and take a seat first, I have reserved your phone number."

"it is good."

Brother Yu is tall and thin, with skin whiter than his girlfriend's. He has slightly curly hair and wears a pair of black-framed glasses. He looks quite gentle and refined.

"Yes, I almost forgot to add a position. Tongtong's mysterious husband is finally going to show up. We have to find out who he is!"

The royal sister made a joke on purpose, and the girl with the bun instantly came to her senses and asked quickly what husband and old man were.

She couldn't bear to miss such an important plot just because she took a short rest in the car. No clues could escape the eyes of Niu Hulu Zhen Huan!
We drove today and Yu Tong paid for the gas and highway tolls. We had lunch at Huangshan Wanzitou and dinner at night with the royal sister couple. The Japanese food cost more than 3,000 yuan per person, which was the most expensive.

It's a bit awkward to add someone at the last minute.

The girl with the bun and the royal sister were considerate and worried that Yu Tong would feel embarrassed, so they pretended to be torturing her severely and teased and threatened the mysterious husband to tell her his name.

The restaurant that claims to be the most authentic Kaiseki cuisine in Shanghai is booming. Fortunately, the royal sister's boyfriend, Brother Yu, is very supportive and has successfully secured an extra seat in the private room.

Yu Tong made a heart-shaped gesture: "Thank you, I'll treat you tonight!"

"You must treat us, but not today. You should ask your husband to treat us specially. Show some sincerity." The royal sister objected sternly.

The girl with the bun hair agreed: "That's right, if you don't put your heart into it, don't think you can get away with it."

"But it seems that Dr. Yu's husband is really busy at work. He never comes here. Today is a rare occasion."

As Yu Ge expressed his opinion, he wiped his hands with the restaurant's hot towel and then took out alcohol wipes from his backpack and distributed them to the ladies.

"Other people work hard to earn money for milk powder and raise their children, and they have a sense of responsibility. If they were as idle as us, they would be doomed." The royal sister looked at him with a meaningful look.

Yu Tong helped to make up for it: "My husband started a business. Every morning when he opens his eyes, he has to think about his employees and partners who are waiting for dinner. He is worried that he will be even busier in the future. Otherwise, we would not be in a hurry to get married and have children."

"There is not a single photo of your husband's face in your circle of friends. Is he in finance or a national agent? He can't be a public figure, right?" The girl with the bun changed the subject.

"What are you afraid of? You haven't met enough public figures, Niu Hulu Zhen Huan?"

"Of course, Jing'an Women's Prison is well-known for what it is. If we can't uncover her husband's secrets, we won't be called Niu Hulu anymore!"

The two little sisters were talking about their lofty ambitions and laughing, but Yu Tong just remained calm in response.

She walked out of the box until a message popped up on WeChat. She heard the amusing laughter of Zhen Huan behind her. She looked at Xie Jingxing walking towards her with her hands behind her back, and a hint of playfulness and joy at the corners of her mouth with a hint of mischievous interest.

The curtain door opened and the couple walked in side by side.

"Welcome to the mysterious husband brother, he finally appeared after much anticipation."

"Welcome, welcome. If Dr. Yu hadn't said to keep the suspense until the last minute, we would have gone outside to pick you up."

"Sit here, let the waiter collect your clothes..."

The three friends greeted them warmly. Brother Yu stood up to greet them, but his voice stopped halfway when the mysterious husband took off his baseball cap.

The more expensive the business restaurant, the more they would like to install only a spotlight above the dining table to create a so-called high-end texture.

In the distant and bright black tone, Yu Tong smiled coquettishly and introduced in a brisk tone: "This friend is my husband, Xie Jingxing."

Niu Huluhuan from Jing'an Women's Prison widened her eyes and blinked frequently. It turned out that he was such a public figure. She had never seen such a person before.

Bang! Brother Yu grimaced in pain, slightly bent over, pressed his thigh that had hit the corner of the table, walked around the dining table and quickly walked forward to shake hands. Sister Yu stood up quickly, and the chair made a sharp friction sound.

In the silence, there was a burst of chaos.

"You got married and had kids."

After a long time, the girl with the bun was still in a daze, and her professional sensitivity made it seem like a question or a statement.

Xie Jingxing openly put his arm around Yu Tong's waist and kissed her face vigorously: "We are a legal couple with a license."

"excellent."

The royal sister uttered two words, and Yu Ge scratched his ears and cheeks, wanting to say something but not knowing where to start.

"I really didn't fool you before. It's often inconvenient for him to come to the party." Yu Tong explained helplessly.

The girl with the ball head opened her mouth and said, what does this have to do with inconvenience? This is a secret marriage, a secret marriage!

If your husband's fans on Weibo knew about this, they would scold you from all angles, saying that even picking teeth is a low-class country girl who is not worthy of a rich and handsome man; and your husband has so many gossips about him and flirts with him everywhere, and you two don't feel embarrassed that people are laughing at you.

Xie Jingxing, this is Xie Jingxing!

Getting married and having a baby at such a young age must be undoubtedly because of love. The stories about my best friend who married into a wealthy family and was loved by a domineering president are playing out in my mind.

The royal sister was inexplicably moved and envious, her nose was sore, even Xie Jingxing got married and had children immediately after graduating from university, why couldn't she do the same.

"Well, is it okay for you to come today?" Brother Yu asked in a low voice, adjusting the leg of his glasses.

"Don't take photos and spread them. She has come to party with you guys many times by herself. I have to prove that the mysterious husband is not a fictional character."

Xie Jing Xing hugged Yu Tong tightly and said, "It just so happens that you guys are a little tired from playing today, and I just happened to not have eaten yet, so I came to pick her up and take her home."

"So you just got off work and came directly to the company, which Grapefruit Capital?" The ball-headed man spoke incoherently, with a sense of déjà vu of movie characters shining into reality. (End of this chapter)