Asset management plan, also known as asset management products, refers to a standardized financial product approved by the regulatory authorities, in which fund management companies or securities companies publicly raise funds or accept the entrustment of specific customers' property as asset managers, and the custodian institutions act as asset custodians, and invest in the entrusted property for the benefit of asset customers.
Compared with trust products, asset management products have the advantage of small quantity. If the investor is a small investor, you can consider Yangzhou resettlement housing asset management, a asset management product with good prospects in the near future. thank you
What is a bank asset management plan?
In the development of bank wealth management business, the channel products designed by fund companies, securities companies and insurance companies are not related to banks, but banks can only take channels in order to avoid supervision. One of the big risks is that risks, customers and funds are all owned by banks. Once risks occur in the future, some of them are uncontrollable. Therefore, banks have launched their own asset management plans. Different from the wealth management products issued by banks now, the bank asset management plan will be similar to funds and trusts and have the status of an independent legal person. Prior to this, when bank wealth management products were invested in corporate creditor's rights and other targets, they needed to indirectly invest in asset management products of trust and securities companies with independent legal personality, which was commonly called "channel business".
What is the difference between an asset management plan and a trust? What is the difference between an asset management plan and a trust?
Similarities:
1. must be reported to the regulatory authorities. Trust is supervised by CBRC, and asset management plan is supervised by CSRC.
2. There are strict regulations on capital supervision and information disclosure.
3. The subscription method is the same, and the project contract and manual are similar.
4. Different channels with the same essence belong to investment and financing platforms, which can span many fields such as capital market, money market and industrial market.
Difference:
1. There are 68 trust companies with issuance qualifications in China, while there are only 36 asset management companies, which makes the scarcity of resources more obvious.
2. Asset management companies have strong investment and research capabilities, especially in macroeconomic research and industry research. Choosing investable projects under the guidance of such a research team can effectively increase the bargaining power of financiers and reduce investment risks.
3. The asset management plan has double credit enhancement and has been audited by asset management companies and trusts.
4. The asset management plan is small and smooth, with a maximum of 200 places.
5. The income is high, and the asset management plan is generally higher than the trust plan 1%/ year; The term is short, and the term of the asset management plan is generally not more than 2 years.
What is the difference between an asset management plan and a trust?
The difference between asset management plan and trust;
Similarities:
1. must be reported to the regulatory authorities. Trust is supervised by CBRC, and asset management plan is supervised by CSRC.
2. There are strict regulations on capital supervision and information disclosure.
3. The subscription method is the same, and the project contract and manual are similar.
4. Different channels with the same essence belong to investment and financing platforms, which can span many fields such as capital market, money market and industrial market.
Difference:
1. There are 68 trust companies with issuing qualifications in China, while there are only 36 asset management companies, which makes the scarcity of resources more obvious. 2. Asset management companies have strong investment and research capabilities, especially in macroeconomic research and industry research. Choosing investable projects under the guidance of such a research team can effectively increase the bargaining power of financiers and reduce investment risks.
3. The asset management plan has double credit enhancement and has been audited by asset management companies and trusts.
4. The asset management plan is small and smooth, with a maximum of 200 places.
5. The income is high, and the asset management plan is generally higher than the trust plan 1%/ year; The term is short, and the term of the asset management plan is generally not more than 2 years.
What is a factoring asset management plan?
A new financial product. If the financier needs money, he will transfer his accounts receivable to the factoring company, and the factoring company will set up a subsidiary (* * investment management company) to design an "asset management plan" to raise funds from specific customers (one customer has 654.38+00,000 and 3 million, with a revenue of 8% ~ 654.38+00%, and the term is half a year or one year, depending on the age of the accounts receivable. I am also studying a product, but I have a question. I only know that the CSRC allows brokers and Public Offering of Fund to set up subsidiaries for asset management. I haven't heard that factoring companies can set up subsidiaries to make asset management plans. The factoring company moved to another place when taking photos, which is not under the jurisdiction of the CSRC. Moreover, the asset management plan of the factoring asset management plan contract only mentions filing with the fund industry association, not "filing with the CSRC" written in our previous asset management contract. Association is a self-regulatory organization, and CSRC is one of the three statutory regulatory bodies, so the factoring asset management plan may face some regulatory deficiencies, policy risks and income risks at this stage.
What is the difference between trust, asset management plan, fund and private equity fund?
Asset management products refer to standardized financial products approved by the regulatory authorities, which are publicly raised by fund management companies or securities companies, or entrusted by specific clients as asset managers, and entrusted institutions as asset custodians, and invest in the interests of asset clients with entrusted assets. At present, there are 9 1 Public Offering of Fund companies in China, but the CSRC only approved 67 Public Offering of Fund companies to set up wholly-owned subsidiaries to do specific asset management business (these can be found on the website of the CSRC).
The difference between asset management products and trust products;
Similarities:
1. must be reported to the regulatory authorities. Trust is supervised by CBRC, and asset management plan is supervised by CSRC;
2. There are strict regulations on fund supervision and information disclosure;
3. The subscription method is the same, and the project contract and manual are similar;
4. Different channels with the same essence belong to investment and financing platforms, which can span many fields such as capital market, money market and industrial market;
Difference:
1. There are only 68 trust companies and 67 asset management companies in China, and the scarcity of license resources is more obvious;
2. Asset management companies have strong investment and research capabilities, especially in macroeconomic research and industry research. Choosing investable projects under the guidance of such a research team can effectively increase the bargaining power of financiers and reduce investment risks;
3. The trust has been reported to the China Banking Regulatory Commission for 1 time, and it can be established if it is fully raised; The asset management plan shall be submitted twice, at the initial stage of raising 1 time, and after the full raising, the capital shall be verified 1 time, and the capital verification shall be established two days later;
4. The asset management plan has double credit enhancement and has passed the audit of asset management companies and regulatory authorities.
5. The asset management plan is small, with a maximum of 200 places.
6. The income is high, and the asset management plan is generally higher than the trust plan 1%/ year; The term is short, and the term of the asset management plan is generally not more than 2 years.
Future trend: the fund special asset management plan is the result of financial innovation advocated by CSRC. Due to the advantages of strict supervision, flexible operation, high income, unlimited small amount and professional management, it is an inevitable trend to split trusts or launch trust products by using fund special asset management in the future.
Answering questions on special assets planning of fund subsidiaries
1. How to understand the "rigid redemption" of quasi-trust business of fund subsidiaries?
First of all, "rigid redemption" is an attitude of the regulatory authorities. The quasi-trust business of fund subsidiaries has a strong expectation of "rigid redemption", which is mainly understood from the following aspects.
1. Regulatory level: The "rigid redemption" of the trust industry is an attitude of the CBRC, which is not expressly stipulated. The CSRC and the CBRC belong to the same level, and the supervision style of the CSRC is more stable. The CBRC controls the total amount, and the CSRC controls it in advance. It can be seen from the filing times of fund subsidiaries that although the CSRC has liberalized the quasi-trust business of fund subsidiaries, it is still cautious in its regulatory attitude and maintains a strict regulatory style of filing before raising and filing again after raising.
2. Industry development: As the fund subsidiaries have just started to develop, the initial business guides the development of this industry, so the companies in the industry are very cautious in their business operations, which also explains why 67 fund subsidiaries have been established, and most of them are "one-on-one special asset management business".
Iii. Level of fund subsidiaries: The fund subsidiaries are backed by strong shareholders' backgrounds, and their risk resolution ability is also very strong, which is not worse than trust (mainly including the resolution of the product's own risk control system, the takeover of major shareholders, the takeover of four major asset management companies, the takeover of private equity institutions, and the takeover of insurance funds. ). The trust-like business teams of fund subsidiaries are almost all trust-digging talents. His management style and risk control system continue the rigorous style of the trust industry.
Fourthly, the license level: the quasi-trust license is still very valuable, which is why after the liberalization of the policy, all fund subsidiaries compete for this license, and no fund subsidiary dares to take the lead in breaking the "rigid redemption", thus being inspected by the regulatory authorities and even suspending or stopping special business (that is, quasi-trust business).
Verb (abbreviation of verb) personnel and business level: fund subsidiaries are all talents in the trust industry, and they are the backbone of trust business, the backbone of risk control and middle and senior leaders. They are all elites in the trust industry. Their business level can be said to be much higher than the average level of the trust industry. They are more adept in obtaining high-quality trust projects, financing design and risk control, thus ensuring "fairness" ......
What is the difference between asset management and trust?
One is to issue stocks through bonds, and the other is overseas funds. Welcome to Gao Souyi.
What does the hierarchical transaction structure of asset management plan mean?
The connection and difference of asset management channels
Fund subsidiaries and trusts belong to the trust relationship in law, and can invest in the form of raising single funds and * * * funds, and funds can be invested in various assets (including varieties traded on the exchange or equity bonds, rights and other assets not transferred through the exchange); In some respects, fund subsidiaries are similar to securities companies in asset management. They can raise a single fund to invest in various assets, and they can raise * * * funds to participate in exchanges and products transferred by * * * trusts. However, there are still significant differences in investment restrictions, investor restrictions, investment efficiency and regulatory constraints among trust, brokerage asset management and fund subsidiaries.
First, the difference between a fund subsidiary and a trust.
1, investment restriction
The trust plan shall not invest in the bill assets in the cooperation between banks and trust companies; Fund subsidiaries are not restricted in various investment targets. Legal basis: The CBRC issued the Notice on Bill Trust Business of Trust Companies at the beginning of 20 12. According to the requirements of the Notice, trust companies are not allowed to carry out various forms of bill asset transfer/transferee business with commercial banks. At the same time, for the existing bill trust business, the trust company should strengthen risk management, and no new bill business should be carried out during the duration of the trust project, and it should be terminated immediately after the expiration and cannot be extended.
2. The number of investors is limited
No more than 50 natural person investors with a trust plan of less than 3 million, and no more than 200 natural person investors with a fund subsidiary of less than 3 million. Legal basis: The Measures for the Administration of Trust Company's * * * Fund Trust Plan stipulates that "there is no limit to the number of natural person investors and qualified institutional investors with a single * * * fund trust plan but a single entrusted amount of more than 3 million yuan." ; The Pilot Measures for Asset Management Business of Specific Clients of Fund Management Companies stipulates that "the number of clients of a single asset management plan shall not exceed 200, but the number of investors with a single entrusted amount of more than RMB 3 million is not limited".
3. Investment efficiency
Trust plans to invest in real estate projects need prior approval, and fund subsidiaries do not need approval to operate real estate projects. Legal basis: The Measures for the Pilot Management of Trust Companies' Real Estate Investment Trust Scheme stipulates that "when a trust company applies for the establishment of a real estate investment trust scheme, it shall submit the following documents to the China Banking Regulatory Commission" and "Application for the Issuance of Real Estate Investment Trust Scheme". After approval, the trust unit can be sold. "
4. Regulatory constraints
There are many regulatory constraints on trusts, and relevant departments have successively issued documents to restrict and prohibit trust companies from carrying out bill business, real estate business and platform business (such as document No.462 of four ministries and commissions); At present, there are few restrictions on fund subsidiaries.
5. Net capital constraint
Trust companies issue * * * fund trust plans, which occupy more net capital; There is no net capital limit for fund subsidiaries at present. Legal basis: Provisions in the Measures for the Administration of Net Capital of Trust Companies.
6. Investment ability
Trust companies' investment ability in the capital market is generally weak; Relying on the investment research team and investment management experience of the parent company, the fund subsidiaries have advantages in investing in financial products traded on the exchange.
7. Payment rules
In practice, the current * * * fund trust plan will abide by the agreement of "rigid redemption" by default; However, the special asset management plan of the fund subsidiary does not do this. The so-called "rigid redemption" means that after the trust expires, the trust company must distribute the principal and income to the investors. When the trust plan can't be paid as scheduled or it is difficult to pay, the trust company needs to handle it at the bottom. In fact, there is no legal requirement for trust companies to make rigid payment in China, which is just an unwritten rule in the trust industry.
8.* * * Financing ability
Some large trust companies have special direct sales teams and stable fund-raising ability, and some can invest with their own funds or trust fund pools, which is relatively safe when operating large-scale fund-raising projects; However, the fund subsidiaries have been established for a short time, and the fundraising channels are limited, which puts great pressure on the sales of * * * products. However, if the shareholders of fund subsidiaries have strong sales strength (for example, shareholders are third-party sales organizations or shareholders are trust companies with strong self-sales strength), some sales problems can also be solved.
What does it mean to take precedence over the asset management plan?
For example, if you think you are a great stock trader, you can take out 6.5438+0 million yuan as a bad fund, and then find someone to match the 3 million priority fund to form a 4 million investment carrier.
In return for priority funds, you promise to give a return of 7% in 1 year, and 3 million ×7% is 2 1 10,000, while priority funds do not enjoy further distribution.
So after 4 million years, 32 1 0,000 will be the priority fund, and the rest will be yours. If you earn 50% and become 6 million, then 600-32 1 = 2.79 million is your profit, which is much more than you can earn 500,000 directly with your own110,000 funds.
Of course, if you are unlucky and lose 10% of your portfolio, and 4 million becomes 3.6 million, you still have to return 32 10 yuan to the priority fund, and all the losses will be borne by yourself (so it is called inferior), that is to say, the original 10000 becomes 3600-32/. It can be seen that although you can earn a lot more when you earn, you will lose more.
What is the difference between a trust plan and an asset management plan?
Asset management products refer to standardized financial products approved by the regulatory authorities, which are publicly raised by fund management companies or securities companies, or entrusted by specific clients as asset managers, and entrusted institutions as asset custodians, and invest in the interests of asset clients with entrusted assets. At present, there are 9 1 Public Offering of Fund companies in China, but the CSRC only approved 67 Public Offering of Fund companies to set up wholly-owned subsidiaries to do specific asset management business (these can be found on the website of the CSRC).
The difference between asset management products and trust products;
Similarities:
1. must be reported to the regulatory authorities. Trust is supervised by CBRC, and asset management plan is supervised by CSRC;
2. There are strict regulations on fund supervision and information disclosure;
3. The subscription method is the same, and the project contract and manual are similar;
4. Different channels with the same essence belong to investment and financing platforms, which can span many fields such as capital market, money market and industrial market;
Difference:
1. There are only 68 trust companies and 67 asset management companies in China, and the scarcity of license resources is more obvious;
2. Asset management companies have strong investment and research capabilities, especially in macroeconomic research and industry research. Choosing investable projects under the guidance of such a research team can effectively increase the bargaining power of financiers and reduce investment risks;
3. The trust has been reported to the China Banking Regulatory Commission for 1 time, and it can be established if it is fully raised; The asset management plan shall be submitted twice, at the initial stage of raising 1 time, and after the full raising, the capital shall be verified 1 time, and the capital verification shall be established two days later;
4. The asset management plan has double credit enhancement and has passed the audit of asset management companies and regulatory authorities.
5. The asset management plan is small, with a maximum of 200 places.
6. The income is high, and the asset management plan is generally higher than the trust plan 1%/ year; The term is short, and the term of the asset management plan is generally not more than 2 years.
Future trend: the fund special asset management plan is the result of financial innovation advocated by CSRC. Due to the advantages of strict supervision, flexible operation, high income, unlimited small amount and professional management, it is an inevitable trend to split trusts or launch trust products by using fund special asset management in the future.
Answering questions on special assets planning of fund subsidiaries
1. How to understand the "rigid redemption" of quasi-trust business of fund subsidiaries?
First of all, "rigid redemption" is an attitude of the regulatory authorities. The quasi-trust business of fund subsidiaries has a strong expectation of "rigid redemption", which is mainly understood from the following aspects.
1. Regulatory level: The "rigid redemption" of the trust industry is an attitude of the CBRC, which is not expressly stipulated. The CSRC and the CBRC belong to the same level, and the supervision style of the CSRC is more stable. The CBRC controls the total amount, and the CSRC controls it in advance. It can be seen from the filing times of fund subsidiaries that although the CSRC has liberalized the quasi-trust business of fund subsidiaries, it is still cautious in its regulatory attitude and maintains a strict regulatory style of filing before raising and filing again after raising.
2. Industry development: As the fund subsidiaries have just started to develop, the initial business guides the development of this industry, so the companies in the industry are very cautious in their business operations, which also explains why 67 fund subsidiaries have been established, and most of them are "one-on-one special asset management business".
Iii. Level of fund subsidiaries: The fund subsidiaries are backed by strong shareholders' backgrounds, and their risk resolution ability is also very strong, which is not worse than trust (mainly including the resolution of the product's own risk control system, the takeover of major shareholders, the takeover of four major asset management companies, the takeover of private equity institutions, and the takeover of insurance funds. ). The trust-like business teams of fund subsidiaries are almost all trust-digging talents. His management style and risk control system continue the rigorous style of the trust industry.
Fourthly, the license level: the quasi-trust license is still very valuable, which is why after the liberalization of the policy, all fund subsidiaries compete for this license, and no fund subsidiary dares to take the lead in breaking the "rigid redemption", thus being inspected by the regulatory authorities, or even suspending or stopping special business (that is, quasi-trust business).
Verb (abbreviation of verb) personnel and business level: all fund subsidiaries tap talents in the trust industry, which are the backbone of trust business, the backbone of risk control and middle and senior leaders, and are all elites in the trust industry. Their business level can be said to be much higher than the average level of the trust industry. They are more comfortable in obtaining high-quality trust projects, financing design and risk control, thus ensuring "rigid redemption".
2. The fund subsidiaries are supervised by the CSRC. The ups and downs of the stock market, the public offering of fund products hurt investors, and the trust products of fund subsidiaries always make people feel risky. What should I do?
eye ......