Chapter 365: Manager Wang's First Day in Office
In the evening, the announcement of a fund attracted the attention of some people. This public offering fund named Small and Medium-sized Enterprise Mixed Selection was at the bottom of the entire fund ranking.
The fund, with a total size of less than 70 million yuan and already on the verge of passive liquidation, has attracted the attention of some people naturally because of his announcement.
The announcement stated that the fund had officially entered the stage of suspension and reorganization, and after the reorganization and renaming, it would be renamed "Junshi Value Hybrid Growth".
The fund's restructuring has actually begun before the company's liquidation, and the name change and resumption of trading will be completed by March 7, which is next Monday at the latest.
Publicly offered funds are different from privately offered funds and can be promoted publicly. With the entry of the reorganization, Junshi Value Mixed Growth will officially enter the promotion period.
Gu Junhao no longer needs to pay attention to some trivial tasks. Shen Boyu, who has become a small shareholder of Junshi Fund, has invested a lot of enthusiasm in the operation of the fund.
On March 1 , Tuesday, Gu Junhao returned to his normal work rhythm and was finally able to lie in his office and watch the market normally.
For the past half month, Gu Junhao, who has been busy with company affairs, has basically not looked at the market seriously. He first checked Nvidia's trend last night.
Although Nvidia closed in the red for three consecutive trading days, the adjustment was not large, and the stock price still closed at US$31.36, achieving a miraculous increase of 7.07% in February.
Nvidia's monthly line level has returned to the bullish trend again. After five consecutive positive monthly lines, the adjustment period ended after only one month. The strength of the leading US technology stocks is evident.
The closing price of US$31.36 in February made Nvidia's overall market value in the proprietary market reach over US$224 million, equivalent to about RMB 1.457 billion. Due to the fluctuation of exchange rates and the increase in stock prices, Nvidia's profit has reached 350 million yuan.
And this is just Nvidia's performance after it completed the increase in holdings. After ending the turbulence in January and February, the US stock seems to have returned to the right track and is still maintaining its slow bull market trend.
Our A-share market hit back with a sharp drop, casting a shadow on the rebound trend established since February. It seems that after the first quarter of 2016, many stocks have been very disappointed with the performance of A-shares.
Since then, the incremental funds in A-shares have gradually decreased, and after 2018, there is basically only on-site speculation left.
The sharp drop back to around 2638 points prompted the central bank to once again start stabilizing the market. This morning, the central bank announced that it would lower the reserve requirement ratio for RMB deposits of financial institutions by 0.5 percentage points starting today.
After the news of the reserve requirement ratio cut came out, institutions generally predicted that this time about 700 billion yuan of liquidity would be released to the market. The central bank can be said to have good intentions in maintaining the stability of the financial market.
Since the stock market crash in 2015, A-shares have become like a crying child who gets candy. Every once in a while, there will be a sharp drop that irritates the public, and then the regulatory authorities begin to maintain the market.
Although it is a bit ironic, A-shares have indeed received a lot of attention in the past two years. Unlike the era before the restart, new shares would be issued no matter how much the market fell.
Stimulated by the positive impact of the reserve requirement ratio cut, the two stock markets performed relatively well on the first trading day of March. The Shanghai Composite Index stopped falling and returned to above 2,700 points. The ChiNext Index rose by more than 3% in the afternoon, and the index also rose to above 1,900 points.
Real estate, finance and other sectors saw the most obvious increases, but there were relatively few stocks that hit the daily limit today, especially in the ChiNext. The index rose nearly 3%, but among the ChiNext stocks, only more than 10 stocks hit the daily limit. The wait-and-see sentiment of investors is still very strong.
On Wang Ruoyu's first trading day as a fund manager, the A-share market gave him a big gift. Among Junshi No. 2's holdings today, except for those that were suspended and saw a comprehensive surge, the stocks with the highest and lowest increases were both two liquor stocks.
Maotai ranked last among the tradable stocks with a 1.63% increase, while Gujin Gongjiu surged 5.01% today, leading the gains in Junshi No. 2's full holdings. It is worth mentioning that Junshi No. 2 has added another suspended stock.
Another liquor stock, Wuliangye, slightly led Maotai with a 1.65% increase, and its share price closed at 22.83 yuan. As expected, Wuliangye fell below 23 yuan at the end of last month, and Wang Ruoyu also increased his holdings again according to Gu Junhao's instructions.
Currently, Wuliangye’s holdings have reached 260,000 lots, and the holding cost has dropped to around the first position building cost of 22.71 yuan. After today’s rise, Wuliangye has once again achieved profitability.
Currently, only Midea has not yet achieved profitability in the overall position. However, Midea also rose by 3.41% today, with a loss of 0.04 yuan per share. The loss rate is not worth mentioning.
That is the leading electrical appliance company Gree. Gree has been suspended since February 19. The reason for the suspension is the acquisition of Yinlong and its diversified layout. When Gu Junhao saw the suspension announcement, he remembered that the acquisition was also a sensation back then.
On the first day of March, Junshi No. 2 achieved a big increase overall, almost recovering half of its overall size in January in one day. The performance was very impressive, which made Wang Ruoyu very happy.
Although I know that I, as a fund manager, am just a shadow of the boss, and the current holding plan of Junshi No. 2 is still done according to the boss's wishes, this is a major change in my life anyway.
This fund is built according to the boss's idea, so what about the next fund? In the future, Junshi No. 2 will always be under his management and become a private equity fund with a scale of over 10 billion. The glory will be unimaginable.
Transforming from a trader to a fund manager was something Wang Ruoyu had never thought of before. Looking back to when he first started working, he, Xu Jianqing and Liu Tingting practiced in the simulated warehouse in the previous trading room for a long time.
It was so difficult to raise the first fund that the eldest brother even considered providing the funds himself. At that time, the three of them never thought that they would be where they are today. Xiao Xu was also just idling around at that time, going to and from get off work on time every day.
Just as Wang Ruoyu was daydreaming, Xu Jianqing's voice came from his ear: "Manager Wang, it's a good start. You have to treat us tonight."
"Shut up, what do you have to do with me? You are all the boss's favorites, but I have no problem treating you."
Xu Jianqing resumed his daytime work rhythm, and the trading room became much more lively. Seeing the two people bickering, Gu Junhao also laughed. Although Gu Junhao had resigned as Junshi's second fund manager, he still entered the trading room today to support Wang Ruoyu.
Gu Junhao also has his own considerations on the redivision of Xu Jianqing and Wang Ruoyu's positions. Xu Jianqing's personality is more unconventional than Wang Ruoyu's. It is much better to let him manage the company's proprietary trading account than to let him manage Junshi No. 2.
Junshi No. 2 is currently following its own plan, with Wang Ruoyu making specific operational arrangements on its behalf. Even if there are some problems in the operations, as long as these positions are maintained, there is no need to worry about the performance in recent years.
There is actually an advantage to his resignation this time, which is that after the second opening of subscription, some wealthy people who took advantage of the funds will be driven out. In the view of some investors, if the fund manager is changed, the performance and shareholding will definitely change significantly.
Even though he has already communicated with his clients, Gu Junhao believes that after the fund opens for redemption in March, some investors will definitely choose to redeem directly. This is inevitable.
Although it is restricted by rules, this is also the result that Gu Junhao wants. Private equity is different from public funds. It does not require too many investors. Only loyal and stable investors are the most important.
"Okay, stop talking nonsense. Ruoyu will treat us, of course, but after tonight, you also have to help promote Junshi Value Mixed Growth." Gu Junhao stopped the two from talking nonsense.
"No problem, we will definitely publicize it to the boss." Xu Jianqing said loudly.
The other traders felt somewhat envious when they saw Xu Jianqing and Wang Ruoyu's high-spirited appearance. It was a very rare opportunity to make the leap from a trader to a fund manager. After working for half of their lives, they could only be considered senior traders at best.
At most, he would become the team leader of a fund trading group. Thinking of this, everyone suddenly remembered that after Wang Ruoyu was promoted, the position of team leader of the trading group became vacant. Although it was of no use and everyone still managed their own stocks, the salary would be greatly improved.
The promotion of Wang Ruoyu, Xu Jianqing and others in their positions is not just a title. The corresponding salaries have also increased significantly. This is no secret in the fund business department.
Junshi Capital has detailed salary rules, and the salary increase after promotion is open and transparent.
After leaving the trading room, Gu Junhao also began to promote Junshi Value Mixed Growth, and started comprehensive promotion on his personal account and Taoguba account.
"On March 7, next Monday, Junshi Value Hybrid Growth, 125,700, will meet you with a new identity!"
Gu Junhao's Taoguba account has not been activated for a long time. Today the market is relatively good, and Taoguba is also quite lively. Not long after the post was published, fans discovered that Gu Junhao had updated his status.
“What the hell! What’s going on? Did Brother T cheat? This account hasn’t been updated for a long time.”
"What the hell, a new identity? Didn't Brother T just resign? Is he going to be a retail investor again?"
"This seems to be the code of a fund? Let's search it."
"It really is a fund. Damn, it's a public fund. But its performance is too bad. It's even suspended. Why is Brother T promoting this fund?"
"Stupid, can't you read the announcement? It was acquired. Junshi Value Hybrid Growth. This must be the company that was acquired by Brother T."
"Oh my god, it's true. Brother T is really awesome. He has even started to get involved in the mutual fund industry. I was wondering why Junshi No. 2 resigned."
"It's common for public fund tycoons to switch to private fund tycoons, but it's rare for private fund tycoons like Brother T to work in public funds. I admire Brother T's courage."
"Hey, I can't afford private placement, and I can't afford public placement either? Wait, I'll apply for it next week, and support Brother T!"
After only a few minutes, the comments under Taoguba were already very lively . Gu Junhao looked at everyone's comments and couldn't help feeling a little proud. It seemed that his influence in Taoguba had not completely dissipated with the passage of time.
