Umbrella trust and stock matching are two mainstream financing channels in the stock futures industry at present, but they are very different and suitable for different investors.
1: Umbrella trust is generally suitable for institutions or large long-term investors, with relatively low cost and low requirements for risk control. Fund allocation is mainly suitable for small and medium-sized or short-term investors, and the cost is relatively high.
2. The leverage ratio of umbrella trust is generally less than three times, and the scale has certain requirements. The initial funds are basically above 6.5438+0 million. The initial amount of funds in the fund-raising channel is flexible, and leveraged customers can choose freely, generally one to ten times.
3. Umbrella trust has strict requirements on the investment period, generally more than half a year, and the allocation of funds can be relatively flexible, from one month to one year, and customers can decide for themselves.
4. The transaction cost of the umbrella trust is fixed, which is basically around 1000, which is about twice that of the funded stock account.
5. Umbrella trust audit process is troublesome, slow in efficiency and fast in fund disbursement. Generally, accounts can be arranged on the same day.
In the umbrella fund-raising business market, China Merchants Bank and China Everbright Bank are the two giants with the largest market share. This time, China Merchants Bank once again tightened the allocation of umbrella funds, and Everbright Bank has not updated its actions at present. At present, the maximum capital allocation lever of umbrella trust is 1: 2.5, and the corresponding warning line and flat warehouse line are 0.93 and 0.88 respectively.
What is umbrella fundraising?
There are countless sub-accounts under the main account.
What do OTC rights issue and umbrella trust mean?
Stock matching means that the matching company can provide you with 4-5 times matching on the basis of your own funds. For example, if you have 654.38+ million, the matching company can provide you with 654.38+ million to 400,000 or 500,000. The trading account is provided by the fund-raising company in a unified way, and the account is completely operated by you independently, and you are responsible for your own profits and losses. Fund-raising companies charge fixed interest.
The main model of umbrella trust is: under a main trust account, several independent sub-trusts are set up, and each sub-trust consists of secondary customers and priority customers. Large stock investors or Sunshine Private Equity can become inferior customers by subscribing to sub-trusts, and the priority customers mainly come from bank financing funds.
What does umbrella trust mean? What is the difference between umbrella trust and capital allocation?
Watchdog wealth answers for you.
Umbrella trust refers to a structured securities investment product which is cooperated by securities companies, trust companies, banks and other financial institutions, and provides investment and financing services for investors in the secondary securities market by combining their respective advantages. Specifically, it is to use bank wealth management funds to borrow trust products, increase leverage and invest in the stock market through fund allocation and financing.
At present, there are three main modes for funds to enter the stock market through trust: one is sunshine private placement mode, the other is single account structured trust mode, and the third is umbrella trust.
The difference between umbrella trust and fund-raising
Umbrella trust and stock matching are two mainstream financing channels in the stock futures industry at present, but they are very different and suitable for different investors.
1. Umbrella trust is generally suitable for institutions or large long-term investors, with relatively low cost and low requirements for risk control. Fund allocation is mainly suitable for small and medium-sized or short-term investors, and the cost is relatively high.
2. The leverage ratio of umbrella trust is generally less than three times, and the scale has certain requirements. The initial funds are basically above 6.5438+0 million. The initial amount of funds in the capital allocation channel is flexible, and leveraged customers can choose freely, which can generally be one to ten times.
3. Umbrella trust has strict requirements on the investment period, generally more than half a year, and the allocation of funds can be relatively flexible, from one month to one year, and customers can decide for themselves.
4. The transaction cost of the umbrella trust is fixed, which is basically around 1000, which is about twice that of the funded stock account.
5. Umbrella trust audit process is troublesome, slow in efficiency and fast in fund disbursement. Generally, accounts can be arranged on the same day.
What is the difference between umbrella trust financing and general financing?
All the same. The umbrella is an institutional account.
When did China begin to have stock financing and umbrella fund-raising?
Detailed Rules for Margin Trading of Shanghai Stock Exchange August 2, 20061day.
Umbrella trust first appeared in 2009 when CBRC suspended the opening of new securities investment trust accounts, and now it has suspended the new umbrella business.
What does the umbrella compartment mean?
Trust is the entrustment of credit, and trust business is a legal act based on credit, which generally involves three parties, namely, the trustee who invested in credit, the trusted trustee and the beneficiary who benefited from others. Trust business is that the trustor transfers the property rights to the trustee (natural person or legal person) for the benefit of himself or a third person (beneficiary) according to the contract or will, and the trustee occupies, manages and uses the trust property according to the prescribed conditions and scope, and disposes of its income.
Umbrella trust refers to two or more different types of sub-trusts in the same trust product. It is a structured securities investment product that securities companies, trust companies, banks and other financial institutions cooperate with each other to provide investors with investment and financing services in the secondary securities market. It uses bank wealth management funds to borrow trust products, and invests in the stock market after increasing leverage through capital allocation and financing. Generally speaking, it is to let investors buy the trust in the trust.
It is worth mentioning that there are two concepts of umbrella trust that must be emphasized. One is "priority", that is,100000 after the above two times of leverage is fixed income, which is relatively low, but at least higher than the bank deposit interest rate. In the whole trust plan, no matter whether you earn or lose in the end, you must first ensure the principal and interest of these investors, that is, 6,543,800 yuan in the above example. The other is "inferior level", which refers to the 5 million yuan part in the above example. If the whole trust plan loses money, these investors will be compensated first. If it makes money, except the priority income, the rest is theirs. If you earn more, you earn less. If you lose, you just lose. In other words, this part is the most risky and the income fluctuates the most.
For fixed income, banks and trust companies are generally around 7%~8%. If there is no accident, the bank will automatically get this part of the income after the product expires. In the event of an accident, the bank's money can be relatively guaranteed.
In fact, the umbrella trust has a liquidation line. Once the investment operation is improper or the market drops too much, it may face forced liquidation to protect the principal and income of priority investors. And this part of the loss is borne by inferior investors. Some umbrella trusts set a liquidation line of 85, or even 88, that is, when the stock falls 12%, the liquidation is extremely risky.
No one wants to miss the arrival of a bull market in which bank funds enter the market through umbrella trusts. Both the rich and the poor run into the market in different ways. According to statistics, after the Spring Festival this year, the funds entering the stock market showed a surge.
HOMS system allows multiple sub-accounts to be split under the main account, which may provide conditions for umbrella trust distribution. At present, most trust companies use HOMS system, and fund-raising companies can connect with trust companies online through HOMS cloud platform, and realize the correspondence with multiple sub-trusts of umbrella trust through splitting molecular accounts.
What is the difference between OTC fund-raising and umbrella trust? ppt
Off-exchange rights issue is outside margin financing and securities lending, so the so-called rights issue companies should be prohibited from publicly borrowing money for stock trading. Due to the large amount of funds, the OTC fund-raising business is basically a single account operation for a specific customer, which is basically the priority of the latter group.
The threshold of off-exchange fund-raising is high: the threshold of umbrella trust is from 5 million to100000 yuan; The inferior threshold of OTC rights issue ranges from 20 million yuan to 30 million yuan.
Off-exchange fund-raising is a single account operation, and umbrella trust is a multi-account operation. Due to the large amount of funds, the OTC fund-raising business is basically a single account operation for a specific customer, which is basically the priority of the latter group; Umbrella trust is to set up an umbrella at the brokerage office. There are multiple accounts under the umbrella, and basically multiple inferior ones correspond to multiple priorities.
What is the significance of stock liquidation and fund allocation? Thank you.
Mainly illegal leveraged funds, which will throw out stocks and cause a decline.
What does it mean to "push the wall" with the winner in stock allocation?
Stock operation is often in the contradiction between dynamic and static, and the market is often "as quiet as a virgin and as dynamic as a rabbit". However, the top and bottom regions of the market and individual stocks last for a short time, and most of the trading time is often arranged in a certain price region. The transaction volume is moderate, and it seems that the opportunity is not great, but the essence is the gaining stage before the big opportunity comes. Just like a vertical "wall", the long and short sides are at both ends of the wall. The consolidation of the market shows that the strength of the long and short sides is similar and the "wall" is balanced. With the change of the strength of both sides, the wall tilts, which makes the wall fall in one direction. The winner's strength is getting bigger and bigger, and it is difficult to change the inclined direction of the wall in a short time. The inclination angle will gradually increase with the extension of time, forcing the other party to give up or perish completely. This is the so-called "many (empty) heads will not die, and the bear (bull) market will not die". According to this line of thinking, we don't need to fight all day in stock trading. In the case that the trading direction is unknown and the trend of the market and individual stocks is unknown, the trading result without a sense of direction is definitely to make small money and lose big money.
* Chen Pu, Xiao Li * saw it there. You can search it.