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revolandgamedownload| Only extended for 6 months! The duration of the securities company's asset management and public service collection has changed, and the scale is too small to extend?

editor2024-05-16Sustainability2

Every reporter Li Na, every editor Ye Feng

Recently, Anxin Capital Management, Cinda Securities and Shenwan Hongyuan Capital Management issued a notice showing that their expiring public participation and transformation collection was all allowed to be extended.RevolandgamedownloadThe duration has been extended, but unlike the usual practice of extending products to December 31, 2024, all three products have been extended for only six months.

At the same time, some brokerage asset management personnel pointed out that if the scale of the public participation transformation products under the brokerage management is too small, it will not be approved for extension, so they can only choose to be wound up.

The extension period of the modified products of 3 Shengong is 6 months.

Recently, a reporter from the Daily Economic News found that the time for the asset management of securities firms to transform a large collection of products to extend the shelf life occurred.RevolandgamedownloadThe practice has changed from the previous duration to the end of the natural year to 6 months.

On April 30, Anxin Capital Management announced that its Anxin Capital Management Ruiyuan Tianli has an one-year bond-based collective asset management plan, the product duration shall not exceed 3 years from the effective date of the asset management contract change to "from the effective date of the asset management contract change to November 5, 2024". This collection plan shall be implemented in accordance with the relevant regulations of the China Securities Regulatory Commission after November 5, 2024.

Relevant data show that the effective date of Anxin Capital Management Ruiyuan Tianli one-year contract is May 6, 2021. By the end of the first quarter of 2024, the size of the product was about 5.Revolandgamedownload.55 billion yuan.

On May 6, Cinda Securities announced that the duration of Cinda Fengrui's six-month bond-type collective asset management plan shall be extended from "no more than 3 years from the effective date of the contract change of this collective plan" to "from the effective date of the contract change of this collective plan to November 11, 2024". The effective date of the asset management plan contract is May 12, 2021, and by the end of the first quarter of this year, the size of the product is about 1.Revolandgamedownload.24 billion yuan.

On May 13, Shenwan Hongyuan Asset Management announced that the duration of the short-term bond-based collective asset management plan was also adjusted to November 17, 2024 from the effective date of the contract change of this collective plan. This collection plan will be implemented in accordance with the relevant regulations of the China Securities Regulatory Commission from November 17, 2024. Public data show that the product is May 18, 2021, as of the end of the first quarter of this year, the collective asset management plan is 828 million yuan.

At the same time, the reporter found that Anxin Capital Management Ruiyuan Tianli one-year holding period products were approved to extend the duration of Huaan Securities to win an one-year holding bond-based collective asset management plan. According to the announcement, the duration of Huaan Securities holding products for one year is extended to December 31, 2024.

Wind data show that since the beginning of 2024, a number of brokerages have issued announcements to extend the duration of their products, including Haitong Haisheng for six months, investment promotion Ruifeng for three months, Haitong selected quantitative value for one year, and CITIC Securities gain for 18 months. It has become the default practice in the industry to adjust the duration to the end of the year before the expiration of the securities firm's asset management and public collection products.

"from this point of view, it is possible that the following products have been delayed for six months. It is not clear why there is such an adjustment." Shanghai, a brokerage management told reporters.

A person related to the asset management of a large and medium-sized securities firm pointed out: "this adjustment of the extended duration also means that the scale of extending the duration of the large collection of public participation is being tightened."

However, some brokerage managers said that the adjustment of this duration has not been explicitly stipulated and may have been adjusted recently.

After the expiration of 6 months, whether the above products will continue to apply for extension has also become a doubt in the hearts of many brokerage asset managers.

It may be difficult to continue if the scale is too small.

At the same time, a senior person in the asset management of a medium-sized brokerage said frankly to the reporter: "in the past, some of the products collected by Shengong University due to liquidation are often attributed to the fact that it is very difficult to obtain a public offering fund license. after all, not all brokerage management can get a public offering license. Judging from the products announced for liquidation this year, it is also difficult for products that are too small to be approved for extension. "

Also on April 30, Optical Securities Management announced that the final operation date of Everbright Sunshine Life's 18-month collective asset management plan is set for May 5, 2024, and will enter the liquidation process on May 6, 2024.

According to Wind data, Everbright Sunshine Life 18-month holding product was established on May 6, 2021, formerly known as Everbright Sunshine emerging Industries (Sunshine No. 8) collective asset management plan. By the end of the first quarter of this year, Everbright Sunshine Life held a total of 53 million yuan in products for 18 months. The previously released collection plan should distribute the remaining property is less than 40 million yuan. According to the quarterly report disclosed by the fund in 2023, its assets were less than 50 million yuan at the end of the second, third and fourth quarters of last year.

On May 9, Ping an Securities issued an announcement that from May 12, 2024, Ping an Securities win Tianli rolled over the bond-type collective asset management plan for half a year and will enter the property liquidation process. According to the data, the effective date of the contract for this product is May 12, 2021. The scale of the product was 90.26 million yuan at the end of the first quarter of this year.

Wind statistics show that up to now, a total of 6 products have been cleared for 3 years, CICC Huiyue quantitative hedging strategy 3 months, Pacific Securities six months rolling holding, Tianfeng Securities Tianze six months, founder Securities Golden Harbor six months and Everbright Sunshine Life 18 months. Ping an Securities win Tianli half a year rolling holding bond-type collective asset management plan is in liquidation.

The reasons for the final liquidation of the above products are different. Guangfa Capital Management Ruili chose to hold a general meeting of the holders and terminated the product contract ahead of schedule. CICC Huiyue quantified because the net asset value was less than 50 million for 50 consecutive working days, and there was no need to hold a meeting of share holders to wind up directly. The remaining four funds are liquidated at maturity and have not been changed into public funds at the expiration of their duration, thus entering the liquidation process.

Wind data show that by the end of the first quarter of this year, a total of 22 large collection of products that participated in public transformation had assets of less than 50 million yuan.

The above-mentioned asset managers of medium-sized securities firms further stated that the scale for postponing large-scale products participating in the public renovation is becoming more and more strict, and the product application time will refer to whether the securities firms 'asset management can obtain the qualification for public offering licenses and the operation of the product renovation in the past three years. Factors, but the most important thing is whether they can obtain a public offering license.

Although the asset management situation of each brokerage firm is different, many brokerage asset managers interviewed still regard the size requirement of equity products as a difficult threshold to meet when applying for public offering licenses.

revolandgamedownload| Only extended for 6 months! The duration of the securities company's asset management and public service collection has changed, and the scale is too small to extend?