On the afternoon of November 17, Feng Liu, a star fund manager under the tens-billion private equity firm Gaoyi Asset, became popular because of a rumor that "GY was under investigation" and became a hot search on Weibo.
Around 4 p.m., Feng Liu, who rarely speaks out on Weibo, forwarded an article indirectly refuting the rumors. In the evening of the same day, Gaoyi Asset officially responded that the recent rumors of "being investigated" on the Internet were not true.
At present, the cumulative scale of Gaoyi’s assets exceeds 250 billion, and Feng Liu’s management scale is 50 billion. How did holdings change during the third quarter?
News of Gao Yi being investigated circulated, and Feng Liu and the company successively refuted the rumors
On the afternoon of November 17, the star fund manager "Feng Liu" under the well-known tens of billions of private equity Gao Yi Assets , because of a rumor that was trending on Weibo.
At that time, rumors of "GY being investigated" began to spread in the financial circle. Many people speculated that "GY" might be "Gaoyi Assets", and then the star fund manager "Feng Liu" under Gaoyi Assets News of the investigation began to be widely discussed.
Around four o'clock in the afternoon, Feng Liu, who had not spoken on Weibo for nearly half a year, spoke up and forwarded Gaoyi Asset's article "To the broad and subtle, Gaoyi Asset Sun Qingrui talks in detail about the evolution process from macro to individual stocks" , refuting the rumor that he was "taken away".
In the evening of the same day, Gaoyi Asset officially responded that the recent rumors of being "under investigation" on the Internet were not true. The company and its fund managers are currently maintaining normal operations and working conditions, and said that they have begun investigating the source of the rumors. We reserve the right to take further legal action against relevant rumors and spreading rumors.
Data show that in the first 10 months of this year, Gaoyi Asset’s management scale exceeded 250 billion yuan, with as many as 525 products and extensive layout in A-shares.
Currently, the investment research team has more than 40 people. The chairman is Qiu Guolu and Feng Liu serves as the managing director. Feng Liu was a well-known Niu San before joining Gaoyi Asset. He had many fans in Minfa Forum, Taoguba, and Xueqiu. In 9 years, he had obtained a return of 370 times.
In 2015, Feng Liu began to manage private equity products at Gaoyi Asset Management, focusing on consumer stocks represented by liquor. I have used the strategy of buying at low prices and selling as the prices go up for two stocks, Shanxi Fenjiu and Shunxin Agriculture, to achieve higher returns.
On September 11 this year, the China Securities Regulatory Commission issued the "Several Provisions on Strengthening the Supervision of Private Investment Funds (Draft for Comment)" and publicly solicited opinions from the public. The "Draft for Comments" stipulates that industries such as public or disguised public raising of funds, evasion of qualified investor requirements, failure to perform registration and filing obligations, off-site operations, group operations, capital pool operations, rigid redemption, transfer of benefits, and self-financing and self-responsibility are prohibited. Standardize behavior, even embezzlement, misappropriation of fund property, illegal fund-raising and other illegal and criminal acts that seriously infringe the interests of investors.
Feng Liu’s funds have appeared in the top ten of 64 companies. The top ten shareholders have significantly increased their investment in security in the third quarter.
Gao Yi Linshan No. 1 Yuanwang Fund managed by Feng Liu has made extensive investments in A-shares. According to Wind statistics, the product currently appears in the top ten shareholders of 64 stocks, with a total reference market value of more than 41 billion yuan at the end of the period.
In the third quarter, Feng Liu increased his investment in the security field. As of the end of the third quarter, he had invested 12 billion in Hikvision and Dahua shares.
Specifically, in the third quarter, Feng Liuxin joined the security leader Hikvision, holding 231 million shares, becoming Hikvision’s fifth largest shareholder, holding 2.47% of the shares, and the stock market value at the end of the quarter reached 88.03 billion. Previously, Hikvision’s second shareholder Gong Hongjia had reduced its holdings by a total of 2.41% in the past two years, with the cumulative reduction amount exceeding 10 billion.
At the same time, it increased its holdings of Dahua shares, holding 138 million shares. After buying 85.001 million shares in the second quarter, Yuanwang 1 increased its position by 52.9999 million shares in the third quarter, reaching 138 million shares. Became the third largest shareholder of Dahua Co., Ltd., holding 4.59% of the shares. According to the third quarter report of 2020 disclosed by Dahua Co., Ltd., in the first three quarters, the company achieved operating income of 16.166 billion yuan, a year-on-year decrease of 1.6%, and net profit attributable to shareholders of listed companies was 28.25 yuan, a year-on-year increase of 50.48%; non-net profit after deduction was 1.736 billion yuan , a year-on-year increase of 0.39%.
In addition, Feng Liu invested 1.6 billion to participate in Wanda Film’s fixed increase. ?On the evening of November 9, Wanda Film announced that it had completed a fixed increase of 3 billion to expand theater lines. Among them, the Gaoyi Linshan No. 1 Yuanwang Fund managed by Gaoyi Asset Feng Liu subscribed for 1.6 billion yuan, holding a shareholding ratio of 4.71%.
At the same time, in the third quarter of this year, Gao Yi Linshan No. 1 also bought 44.5 million shares of Wanfeng Aowei, holding 2.03% of the shares, with a market value of 316 million yuan; bought 16.39 million shares of Oriental Risheng, holding The company holds 1.82% of the shares and has a market value of 277 million yuan.
Gaoyi Asset also has extensive exposure to US stocks. As of the third quarter of 2020, Gaoyi Asset's US stock positions held a total of 19 stocks, with a maximum value of approximately US$275 million. In the third quarter, the turnover rate of Gaoyi Assets was 15%, mainly concentrated in the communication services industry and cyclical consumer industries.
In the third quarter, Gaoyi Capital bought Huazhu Group, Staar Surgical Co and Beike. Among them, Gao Yi invested the most in Huazhu Group, buying nearly 500,000 shares worth about US$20 million. In the third quarter, Gao Yi increased his position in Pinduoduo and New Oriental. Significantly reduced its holdings in Alibaba and Bilibili, both by more than 50%. Other stocks that reduced their positions in the third quarter include ZTO Express, Weibo, Sina, Albemarle, and Daqo New Energy. Gao Yi’s positions in NetEase, Google, and Facebook have not been adjusted in the past three quarters.