Rebirth of the investment era

"What?" Qian Zhongmou saw Su Yu stunned and said with a smile, "Do you think you can't eat it?" It hurts.

When Su Yu heard Qian Zhongmou's inquiry, he quickly came to his senses, considered it, and replied: "It's not that I can't take it, but I'm worried...our company will be pushed directly to the country because of the business that Qian Lao mentioned. He is at the forefront of the asset management industry and has become the target of public criticism."

"So...are you scared?" Qian Zhongmou continued to ask with a smile.

Su Yu coughed slightly 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 like our small company 'Yuhang Investment'? And Mr. Qian The nature of the fund itself and the source of asset management funds for this 100-billion-level 'long-term hybrid investment fund' shouldn't be simple, right?"

Su Yu guessed that an investment fund of this level must be among the largest national funds.

As for the specific nature of the fund and the source of asset management funds, whether it is social security, pension, or the market stabilization fund managed by Huijin, before Qian Zhongmou reveals the truth, he cannot guess, but no matter which possibility it is, as long as he can accept it Placing an order for the 'agency fund management' business will be a substantial leap forward for the development of 'Yuhang Investment'.

At the same time, having a state-owned background can be regarded as a talisman for the company's future development.

Therefore, as long as we can take over this business, even though there will be short-term gossip in the industry, in the long run, it will definitely be good for the company's development, and there will be no harm. pain

"There are indeed many powerful domestic asset management institutions." Qian Zhongmou responded with a smile, "But this one is the only one that can achieve the performance of several major fund products under your 'Yuhang Investment'. Of course , I came to you not only because of the performance of several major fund products under your company, but mainly because of your understanding and judgment of the domestic financial market, Xiao Su, which impressed me. At the same time, your "Yuhang Investment" trading strategy, It has indeed been verified by the market.”

"As for the nature and source of funds of this 'agency fund' I mentioned..."

Qian Zhongmou smiled, but still did not reveal the truth, and continued: "If Xiao Su and your company, Yuhang Investment, are willing to accept this order and become the agent management agency of this fund, then you will naturally do everything from now on. Know."

"Since Mr. Qian has already spoken about this..." Su Yu answered with a smile, "Then we at 'Yuhang Investment' have no choice but to be respectful and obedient."

Qian Zhongmou laughed and said, "I'm not forcing you to do this!"

"Of course not." Su Yu responded, "Generally speaking, I have no way to refuse things that are beneficial to the company. It's just that... our fund company's trading team, strategic analysis, risk control team and other personnel are still There is a serious shortage, and I am afraid it will be difficult to undertake such a large volume of capital transactions in a short period of time.”

Qian Zhongmou chuckled and said: "Even if your company admits the docking, it will take a long time for the management authority of this fund to be handed over to you. As long as you are interested in taking on this order, in terms of team building, personnel In terms of arrangements, everything can still be done in time." It hurts.

"Mr. Qian said that even if our company admits the connection, it will take a long time. What does this mean?" Su Yu asked, "This is not a short time. How long is it?"

Seeing the doubts in Su Yu's eyes, Qian Zhongmou smiled and said: "This has nothing to do with your company itself, but the current entry conditions for this fund, as well as the corresponding entry procedures and rules, which are still in the process of development. During the discussion, there is no clarity, so it will take a lot of time to go through the process.”

"As for how much time it will take for this process to go through completely, under the relevant authority..."

Qian Zhongmou thought for a while before continuing: "The initial estimate is that it will take at least half a year, so I say that as long as you are willing to take over, there will be enough time for team building, personnel recruitment, trading team training and other aspects. .”

"At least half a year?" When Su Yu heard this length of time, he had a better idea of ​​the nature of the fund and the specific source of funds mentioned by Qian Zhongmou. He smiled and said, "Such a long market entry procedure and rules Approval, such careful delegation of authority, wouldn't it be the 'pension fund' that has been rumored in the market one after another?"

When Qian Zhongmou saw that Su Yu had made it clear without any scruples, he coughed slightly and said, "We are currently unable to reveal the relevant specific information."

Seeing that Qian Zhongmou did not directly refute, but only said something ambiguous, Su Yu knew more clearly that his guess was correct, and said with a smile: "I understand, but... if our 'Yuhang Investment' company is willing to undertake this project How should the fund's agency management business, specific transaction authority, and fund management fees be calculated? This aspect... shouldn't be confidential, right? I hope Mr. Qian can explain it in detail! "It hurts!

"The fund you are undertaking is a branch fund of the entire fund." Qian Zhongmou took over Su Yu's words and explained, "We will definitely delegate all specific trading authority, but regarding fund transaction risk control, necessary We are still responsible for the authority to review net worth.”

"As for fund management fees..."

Qian Zhongmou stared into Su Yu's eyes, pondered for a while, and said, "Due to the special nature of this fund, I'm afraid it will be lower than Xiao Su's expectations in this regard."

"Of course, regarding the interests in this area, I will definitely respond to the leadership as much as possible and fight for you."

"You will get whatever the other management agencies earn, and you will not make any discounts, nor will you treat them differently just because you are a private equity agency."

"I have no objection to transaction risk control management and regular fund net worth reviews," Su Yu said, "but if the fund management fees are too low, we may not be able to cover the operating costs."

Although the company's business development requires the card of "state-owned assets background". pain

But if you hold this card, you will have to make a large profit, or even operate at a loss on this fund project managed on your behalf, which will be more than worth the loss.

"That's not the case." Qian Zhongmou chuckled, "I will definitely not let you operate at a loss."

"Are there annual net worth assessment standards and other agency management qualification review standards?" Su Yu continued to ask.

Qian Zhongmou said: "There must still be specific internal rankings. As for other management qualification review standards... As long as the losses do not reach the stop-loss and liquidation lines of ordinary public funds, we generally will not suddenly Cancel the management qualifications of institutions that have been delegated authority."

"Understood!" Su Yu nodded slightly and continued, "Under the net worth review standards, if the annual net worth performance exceeds certain expectations, does our 'Yuhang Investment', as an agency management agency, have the authority to collect excess profits? "

"What do you mean by annual net worth performance exceeding certain expectations?" Qian Zhongmou asked.

Su Yu smiled slightly and said: "For example, if the annual net worth is more than doubled, or far exceeds the net worth performance of other management institutions in the annual net worth internal ranking, in this case, our 'Yuhang Investment' will charge the excess amount." "Profit authority?" It hurts

"I will try my best to respond to the leaders and put forward your appeals for interests." Qian Zhongmou said, "In my personal opinion, having excess profits as an incentive bonus for agency operations is actually pretty good. Of course... …This is just my personal opinion. I can’t say for sure whether some rules can be set up in this regard at this moment.”

Su Yu nodded and said, "Understood!"

Generally speaking, this meeting between the two parties was just a preliminary understanding of each other's intentions.

Even if Qian Zhongmou admires him and is optimistic about the market trading and investment research capabilities of Yuhang Investment, if they want to truly take over the management authority of a 100-billion-level branch fund in the "Pension Fund" market planning investment project, then it will be difficult for them to do so. 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 100 billion-level branch fund.

With this stepping stone, at least they are on the same starting line as many powerful state-owned asset management institutions, and have the opportunity to transform the company's development from quantitative to qualitative. pain

"But don't worry, Xiao Su..." Qian Zhongmou said, "As long as you can achieve the same performance as several major 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 be wronged."

"Of course I 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 meeting or negotiating formally this time, Mr. Qian's There are some things you can safely and boldly take to heart.”

Hearing Zhou Boyang tell the truth, Su Yu responded with a smile: "Of course I believe what Mr. Qian said."

The three of them chatted nonchalantly, and before they knew it, after three rounds of wine and five dishes, and everyone enjoying themselves, it was already 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 about 3 o'clock in the afternoon that they dispersed. pain

When leaving, Qian Zhongmou liked Su Yu more and more. He strongly invited him to get together again next time he came to Yanjing to talk about the unfinished topics today. Su Yu After a careful conversation and understanding of this senior figure in the domestic financial industry, Yu respected and appreciated him greatly, and he couldn't help but agree to the other party's request.

Later, when he returned to his residence, he took a short rest.

At 5 o'clock in the afternoon, some rumors about his private meeting with Qian Zhongmou had begun to spread through some private channels to many managers of large asset management institutions, and even... even Zhen Zhen in Yanjing. Xie Zhenhua, the head of China Capital Group, also received the news.

"Haha, 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 assistant's report. A little surprised, he couldn't help but laugh softly, "This little guy named Su is developing very fast. It's really not easy. Old 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, 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 take over the relevant authority of 'pension fund entry into the market', right? But I have just been transferred to 'Pension Fund'" Qian Zhongmou, director of the fund's special investment strategy department, made a sudden visit to Yuhang and met privately with the person in charge of Yuhang Investment, which is indeed unusual."

"Who said that private equity institutions cannot take over the management authority of 'pension fund entry into the market'?" Xie Zhenhua smiled, "The power lies in other people's hands. How to formulate strategies and how to maintain and increase the value of pension funds is their decision. , as long as the big policy, compliance with regulations, and specific strategies are the business of others, no one else can get involved. But I didn’t expect... this piece of cake would actually fall to the company 'Yuhang Investment' Institutionally, haha... It seems that Wan Ting's vision is correct this time."

Zhou Guohua nodded and said: "If 'Yuhang Investment' can get a piece of this cake, its future development will be really immeasurable."

"Qian Long 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 also heard about this. The initial investment is 150 million US dollars. With the 'mobile Internet' trend being hyped to a fever pitch, even our 'Zhenhua Capital' is not afraid of it." Such courage, dare to make such a big bet in this field."

"I heard that Ali Baba and Red Mountain Capital were forced to intervene after intercepting the investment." Zhou Guohua said.

Xie Zhenhua responded: "That's not necessarily the case. Regarding this investment project, Ali Baba and Red Mountain Capital were originally hesitant to intervene, but I didn't expect that the young man named Su from 'Yuhang Investment' would be in the company." When cash flow is already insufficient, they still dare to borrow a large amount from Chinese Commercial Bank to participate in this project with an obviously high valuation. By the way, has the Chinese Commercial Bank approved the 1 billion loan project they proposed to Chinese Commercial Bank?"

Upon hearing Xie Zhenhua's inquiry, the assistant responded: "As far as I know, not so fast."

"It shouldn't be easy to get approval for a loan with this name or such a large amount, right?" Zhou Guohua pondered for a moment and said. pain

"Then let the news out and let the head office of Huashang Bank take notice." Xie Zhenhua's eyes gradually brightened, "What will happen if the loan approval is stuck at the head office?"

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