Chapter 335: Future Vision of Junshi Capital
The end of the closed period of the fund products under Ace Fund has caused a storm that is no less than the fundraising of a new fund. Although Gu Junhao has set certain limits and upper limits, it can only block some people.
Within a few hours after the announcement was issued, many new investors were preparing to raise funds to subscribe for Junshi No. 2 fund shares.
Just like the hottest period of funds in the previous life, Junshi No. 2 was extremely popular this weekend, especially in Beicang, where talking about Junshi No. 2 has become a fashionable topic.
"Will you buy Mr. Gu's fund next week? What does this free subscription mean? Do you go to their company to subscribe or can you just go on the fund's website?"
"It's on the website, but I think we can go to their company and see if we can meet Mr. Gu in person, so that we can build a relationship."
"That's right. Lao Wang is in Junshi's number two customer group. Not only does he make a lot of money, but he also makes a lot of friends. He introduced a big customer and his business is booming."
"I don't know if Lao Wang will redeem it this time. I heard that this old guy has lost a lot of money in stock trading recently."
"If he's not stupid, he definitely won't redeem it. What can he do with the money he lost from stock trading? He can still get it back. Not only can he make money from lying in Mr. Gu's fund, but the investor exchange meeting organized by his clients is also an opportunity to expand his network. How can he have the nerve to attend it after he redeems it?"
"That's true. If it were me, I wouldn't redeem it either. But Mr. Gu has raised the minimum subscription limit to 5 million. This is a bit of a headache. I can't raise that much money in a short time."
"Why not just find a few trustworthy people who are willing to invest and pool the money together? We can use one account and then split the money when we redeem it."
"That's an idea. I'll ask if there's anyone I know. How about we get together?"
"Hey, that won't work. Investing in funds is secondary. I mainly want to get into Mr. Gu's client base. There are many local entrepreneurs there. I'd like to go meet them. Besides, I have enough money."
"You are really smart. Okay, I will ask in the next two days."
"If you want to ask, you'd better hurry up. Last year, Junshi No. 2 also set a subscription period, but it was full in less than a day. I'm afraid that Mr. Gu will close it early again this time, and you won't be able to grab it then."
"That's not possible, will the lower limit of 5 million be so fast?"
"You still don't understand the financial market and Mr. Gu's current reputation. Five million is nothing. If Mr. Gu doesn't set a limit, believe it or not, hundreds of millions of dollars can be easily handled."
Rich people also have their own blind obedience, especially when it comes to investment. In his previous life, Gu Junhao had read a news report that a customer in Ningbo bought a product from a fund company, and he was the only investor in this fund. The amount was as high as hundreds of millions, but no one knew where it ended up.
Although Junshi Fund No. 2 did not go to this extent, the performance of open-end funds is no longer entirely dependent on fund managers. Although the liquidity of private equity funds is not as frequent as that of public equity funds, there are always several public subscription and redemption openings every year.
In addition, we have also taken into consideration the individual release applications for some special customers; this means that in the future, it will no longer be possible for Junshi No. 2 to maintain a full position as it did during the previous closed period.
During each opening period, a portion of funds must be reserved to deal with customer redemptions. However, due to the limitations of fund investment categories, the A-share market will not be much better in the next few years. It is already difficult to achieve the peak state like this year.
At least the period between 2016 and 2018 was relatively difficult. Performance failing to meet expectations naturally led to some clients being dissatisfied with their specific returns and choosing to withdraw, which in turn further led to instability in the overall size of the fund.
This is also what Gu Junhao could imagine. After all, his fans have somewhat deified Gu Junhao. The A-share market is more like farming and relying on luck for a living.
When the market is good, it is relatively easy to make money. When the market is bad, the difficulty of making money naturally increases, and this cannot be changed.
This time, the ex-rights of Junshi No. 2 also means the arrival of a new stage. It is only more than a month away from the New Year's Day of 2016. With the circuit breaker and the subsequent long bear market, Junshi No. 2 also needs to adjust its specific operating strategy.
In Gu Junhao's opinion, in the next two years or so, Junshi No. 2 should focus more on stability, maintaining a certain growth rate on the basis of stability, and there will be light at the dawn after enduring the bear market.
Of course, there will no longer be an all-round bull market in the future, but this does not mean that a local bull market does not exist. The rotation between sectors and the development of emerging industries will also bring a lot of wealth.
When the subscription and redemption period expires next week, Junshi Capital will receive another 1.859 billion yuan in its account. As for how to use such a large amount of funds, Gu Junhao hopes to invest more in the primary market.
Using the financial market to feed back the real industry has always been a dream of Gu Junhao. To be honest, he no longer has much interest in endlessly making money from the A-share market.
Use the profits earned in the financial market to invest in some real industries, create local jobs and tax revenue, and improve the business environment. Once the company reaches a certain scale, it can also expand the industrial chain through listing and refinancing.
This model is the most perfect one in Gu Junhao's opinion, with finance and industry complementing each other, rather than just making money by profiting from others. However, there are only a few institutions with such a structure at present.
More institutional groups are only interested in their own selfish interests, magnifying the harmfulness of finance and even harming the real economy. They have no sense of social responsibility, and some funds are even taking over the responsibility.
Basic professional ethics were completely disregarded.
Gu Junhao is powerless to change the situation, but he also wants to do something he wants to do. Investing in the real economy is one of them. As for the invested companies, it would be best if they can go public. If there is no need to go public, Gu Junhao will not force it.
As for investment direction, Gu Junhao still prefers the new energy industry chain. If large investment projects are not feasible, he can invest more in downstream industry chains like investing in Boning Auto Parts, and strive to achieve the goal of breaking through the surface with a point and opening up the pattern .
As for the secondary market, although the stock market will not be very good in the next few years, it is still good compared to the bond market and US stocks, and there are opportunities. In fact, as far as Gu Junhao is concerned, he would like to invest in public funds.
Although private equity funds are more flexible in operation, they also have their limitations. At least the starting investment amount of 1 million yuan keeps most ordinary investors out of the door. Public equity funds do not have such restrictions, even if you buy ten or twenty yuan.
In terms of holdings, public funds also have various restrictions. As the difficulty increases, the challenge naturally increases. However, public funds have licensing requirements. At present, Gu Junhao does not have the strength to apply for the next public fund license.
"I don't know if there are any public funds that can't continue to operate in this year's bad market. If so, we can acquire a small public fund company that can't continue to operate."
The issuance of public fund products involves complicated procedures and a long time span. Most importantly, it is very difficult to apply for a license. However, there is no such problem when acquiring a small public fund company.
A proposal can be put on the table in this regard. After the circuit breaker, due to the long bear market and the cooling of investor enthusiasm, there will definitely be companies like this that can no longer operate. At that time, spending 100 million or 200 million yuan to acquire them can greatly enrich the company's investment categories.
Regarding the future prospects of Junshi Capital, Gu Junhao hopes to have an investment chain with a full range of investment categories including public funds, private equity funds and proprietary trading in the secondary market.
Combined with the investment in the primary market, a regional investment company with primary and secondary markets complementing each other will be formed, truly providing financial services to the real economy.
On November 9, Junshi No. 2 was temporarily suspended for one day to carry out ex-rights. The Shanghai Composite Index officially broke through 3,600 points today with a 1.58% increase. The stock index closed at 3,646.88 points, closing the decline since August 21.
The Shanghai Composite Index rose for four consecutive days, and the ChiNext Index rose for two consecutive days, closing at 2724.62 points today. The index is approaching its high since early July. Both the Shanghai and Shenzhen stock markets have entered a pressure point.
In addition to facing the profit-taking since the rebound, the two markets also have to deal with a large number of densely packed positions that have fallen to this point since the stock market crash. The decline from 500 points to 4,000 points since the stock market crash has been too fast, and coupled with the bottom profit, the packed positions are relatively acceptable.
The area between 4000 and 3000 points can be described as a densely packed market. During the 1000-point drop, a large amount of funds invested in bottom-fishing, including even the national team. Many of the stocks that the national team invested in bottom-fishing are currently trapped.
Except for those margin trading positions that have already gone bankrupt, most investors are trapped at this position. For ordinary investors who buy at high levels and then cover their positions, without the support of leveraged funds, the cost area is also mainly concentrated at this position.
Whether the Shanghai and Shenzhen stock markets can get through the impact of trapped shares above 3600 points and 2700 points and funds that are bottom-fishing and profit-taking below 2900 points will directly affect investors' confidence this year.
This week is very critical for how far the market will go in the next two months of this year. Gu Junhao has not paid much attention to the stock market today. The only stock he has paid attention to is Vanke A.
Since entering November, Vanke A has been on a downward trend for five consecutive days. Today's closing stock price has reached 14.40 yuan. It seems that the merger and anti-merger market is about to start again.
