Chapter 453: The ability to attract money is off the charts
On the first day of resuming subscription, the Shanghai Composite Index broke again, and the daily trading volume dropped to below 90 billion yuan, which had a certain impact on daytime fund subscription.
In the words of retail investors, this market situation is no longer bearable. The stagnant stock market and the constant breaking of new lows in daily trading volumes are testing investors' psychological endurance.
However, most people understand that everything will turn into its opposite when it reaches its extreme.
When investors can no longer bear the psychological pressure, cannot tolerate the sluggish trend, and amplify the panic in their hearts, a rebound will come into being.
On September 18, the funds subscribed by Junshi Price Investment yesterday officially arrived, with a total of more than 1.5 billion yuan, and a total of 17,400 fund accounts subscribed! The average subscription amount per account is as high as 86,200 yuan!
If it weren't for the impact of yesterday's sluggish market, perhaps this figure would have reached a new height; however, even if the full-year return has retreated by nearly 20%, Gu Junhao's influence in the minds of big investors is still very high.
All of this is inseparable from Junshi No. 2's full-year performance. Junshi No. 2, which has no position requirements, has achieved good control of its earnings this year.
As of last month, the net asset value rate of Junshi No. 2 was 1.5596, an increase of 2.96% over the previous year!
Big investors have their own judgment. The stable performance of Junshi No. 2 throughout the year fully demonstrates that Gu Junhao's strategy is correct. What is missing is just an opportunity for a rebound.
Under the premise that the timing is right, a full-year rebound for Junshi Price Investment will not be a problem, and the annual retracement of nearly 20% can be considered a historical bottom for Junshi Price Investment.
In fact, the actual higher drawdown rate of Junshi Price Investment has only started since July. In the first few months, the average monthly drawdown was still relatively small among public funds.
The year 2018 will mark the 20th anniversary of the establishment of public funds, but this 20th anniversary is destined to be a bit depressing.
Looking at the three major indexes that continue to fall and the individual stocks that frequently set new lows, valuations have repeatedly hit new lows, trading volumes have been sluggish, and the number of funds liquidated this year has also hit a historical high.
A series of data has made public funds the object of ridicule, but all this does not affect Junshi Value Investment's ability to attract money.
Raising 1.5 billion yuan in a single day is definitely a highlight worth promoting in the context of a super depressed bear market in 2018.
When Gu Junhao saw such data, he felt very proud in his heart. It seemed that the brand had not collapsed yet.
Then he said to Li Xinyu: "Notify them and have the public relations department publicize it more to attract more subscription funds."
Unlike private funds, public funds can be publicly promoted and use some marketing methods to attract more investors to subscribe. This is also a normal marketing method.
There's nothing shameful about advertising to make money.
"Okay, I'll notify the public relations department right away and ask them to increase their publicity efforts." Li Xinyu nodded.
In fact, the promotion has been online since the announcement date last week, but after the data came out today, the promotion can be adjusted appropriately.
"Well, you go ahead and do your work. I'll go to the trading room." Gu Junhao nodded with satisfaction and walked towards the trading room.
With more than 1.5 billion yuan of funds coming in, the overall scale of Junshi Price Investment has returned to above 12 billion yuan; with the large amount of funds coming in, Gu Junhao also has to put some pressure on the trading team.
In fact, Gu Junhao is not very satisfied with the drawdown rate of Junshi Price Investment. To be honest, the drawdown rate in the past few months is a bit high.
If it weren't for the fact that the brand name was still there and there weren't many large redemptions, and if investors hadn't been adding to their positions and making regular investments, the fund would probably have fallen to a scale of 70 or 80 billion yuan long ago.
Although it was more due to the overall market reasons, the team was ultimately a little slack, otherwise the drawdown could have been controlled within 15%.
Although the overall position has been maintained at around 70%, the market has been in a downward trend throughout the year, and there are actually more opportunities in technology stocks and pharmaceutical stocks.
What's more, among these major sectors, there are stocks such as Zhongguo Software and Hengrui Shares that have doubled in the range, as well as stocks that have bottomed out at historical bottoms such as China News Service.
Although Ning Wang, which is heavily invested in, has fallen a lot since the end of July, the profits in the early stage were also considerable. As long as no single share is moved, the current losses will not be serious.
When he arrived at the trading room, Gu Junhao saw that everyone was smiling and in high spirits, obviously they already knew yesterday's subscription data.
Instead of joking with his subordinates as usual, Gu Junhao said to everyone with a serious face: "I believe everyone has already known the subscription data of yesterday. More than 1.5 billion funds have been received. "
"Congratulations, boss. This is a very good number. Our fund size is back above 12 billion yuan."
"The boss must have great appeal. So much money came in on the first day of subscription."
Waving his hand, Gu Junhao interrupted everyone's flattery: "But don't be too happy too soon. In the past six months or so, our fund has retreated by nearly 20%. I am very dissatisfied with this data."
Liu Tingting wanted to say something, but was stopped by Gu Junhao with his eyes.
"The market has fallen sharply this year. This is not my fault. I understand the reason, but I am still not satisfied with the retracement data. Look at the data next door. Don't you feel ashamed?"
"It's the same stock selection. Although you are limited by your positions and the operation is much more difficult, this is not an excuse. Now I have got you the incremental funds. I hope you will devote your full attention in the coming days."
After a pause, Gu Junhao continued, "There are still more than three months left this year. During these three months, my requirement for you is to control the annual retracement of 125,700 to less than 10%."
"Starting today, everyone's stock trading performance will be calculated based on the range of ups and downs until New Year's Day 2019."
"If the overall stock increase does not meet the 10% retracement requirement for the whole year, I will be responsible. But if the regional increase is within this range and you fail to do so, then the last-place elimination system will be adopted."
These words made the atmosphere in the trading room seem a little depressing. This was the first time that Gu Junhao gave such a harsh lecture to the public fund team, and he even used the last-in-first-out system.
The boss, who is usually very kind, suddenly looked stern, which was quite scary. Even Liu Tingting didn't dare to say anything more.
In the final analysis, it is because everyone did too badly. The year-round downward trend and the first-time appearance of MY friction made these traders very uncomfortable.
Sometimes when I see the sluggish trading volume, I feel discouraged. Whether it was the bull market in 2015 or the rebound in 2016 and 2017, they were much easier than this year.
A series of factors, plus the fact that the boss deliberately controlled the scale at the end of last year and did not have any high requirements for performance, led to the entire trading team being in a relatively lazy state.
In fact, everyone knew these problems, but since the boss didn't say anything, everyone pretended not to know.
But now that there is pressure, I can't go on like this. I have to cheer up in the days to come.
"Okay, everyone, go back to your respective positions. The 1.5 billion will be deposited today. Tingting, come here for a moment."
"Oh well ."
The two came to a separate area, and Gu Junhao proposed some reward and punishment mechanisms to Liu Tingting, which were the same ones that Liu Tingting and the other two had just discussed during the interview.
The data of rise and fall in the statistical range will be counted, and those who perform best will be rewarded and promoted, while those who perform worst will be eliminated.
Now that we have said it, we must do it. The company has been established for five years and does need some changes. We cannot continue to rest on our laurels.
The memory of the previous life can still be used for four years. Four years later, Gu Junhao’s own stock selection ability will not be as accurate as it is now. At that time, the collective wisdom and team capabilities will be very important.
In fact, from the perspective of the transaction itself, the current transaction is too simple compared to the future. Even if he returns to the present without any memory, Gu Junhao believes that he has done a good job.
The current hot money's strategies are still relatively crude, and institutions only work in groups. Quantitative funds are not popular, and the registration system is not popular either. The ChiNext is still at 10%.
In terms of the environment, it is indeed much simpler. After the Science and Technology Innovation Board was launched and the Growth Enterprise Market reached 20CM, coupled with the surge in the number of stocks in the market and the widespread popularization of quantitative funds, the difficulty of making money is many times higher than it is now.
From now on, it is necessary to cultivate the team's capabilities, choose the right time, and increase quantitative trading funds.
Junshi Price Investment has resumed subscription and put forward performance requirements for the trading team, which may be regarded as an opportunity for the company's reform.
As a private company, we should always have a sense of crisis.
On September 18, the Shanghai Composite Index opened low and ended high. The rebound that began in the afternoon was unusually strong, and both the Shanghai and Shenzhen stock markets showed a trend of bald positive lines.
The Shanghai Composite Index closed at 2699.95 points, up 1.82% for the day, with trading volume also increasing to 113 billion yuan. The ChiNext Index rose 2.04%.
The rebound before the large-scale IPO that Gu Junhao expected finally arrived.
The two markets rebounded unusually strongly at noon, and the capital inflow was also very obvious. In line with the rebound of the broader market, Junshi Capital's public relations department changed its publicity strategy in a timely manner.
Various self-media articles vaguely mentioned Gu Junhao's personal fund operations, and the performance of the market after each short and full position.
This time, on the second trading day after Junshi Price Investment opened up subscription, the two markets saw a big rebound.
Not to mention, the short self-media essays mainly spread through WeChat Moments, combined with today's sharp rise, have brought huge traffic to Junshi Price Investment.
A bullish candle can change one's beliefs. This is not just a casual statement.
The stock market has such magic that no matter how many days it has fallen, as long as a big positive line appears, it will tempt investors to participate.
Ultimately, it is still related to the investment environment. The lack of investment channels, the difficulty of starting a business, and the low threshold of the stock market are all important factors in attracting investors.
If stock trading is considered a form of entrepreneurship, then it should be one with a very low threshold. There is no educational requirement, and the capital threshold is also extremely low. People can participate with 10,000 or 20,000 yuan or even a few thousand yuan.
Coupled with the publicity of some successful cases, such as how a certain tycoon made x-fold profit in x-year, or how a certain person entered the market with 20,000 yuan and achieved x-much, these cases are even more attractive.
When faced with a successful case, everyone will think about whether they will be the next one, without thinking about the risks involved.
The publicity of the public relations department brought a considerable amount of traffic to Junshi Price Investment. And when Junshi Price Investment updated the net value for today at 9:30 in the evening, the subscription crowd was once again eager to make a move.
