13 years ago, when four institutions invested 1 100 million yuan to set up the boss fund, no one dared to imagine that boss could create 8 billion yuan of management fee income and get an annual net profit of 1 100 million yuan.
As a result, Guoxin Securities left in a hurry and had to draw water with a sieve. Jin Xin Trust came in at the fastest time of Bosera's development and left at the peak time, earning enough money.
Guosen Securities was the first to leave the bamboo basket and draw water with a sieve.
Guosen Securities became the first shareholder to withdraw from Bosera and the only shareholder who did not benefit from Bosera.
1998, Guosen Securities, Jin Xin Trust, Great Wall Trust and Everbright Securities initiated the establishment of Bosera Fund, with each contributing 25 million yuan and holding 25% of the shares. In the second year, Guosen Securities sold its equity. China Merchants Securities (then called Guo Tong Securities) acquired 25% equity of Bosera Fund held by Guosen Securities, namely 6 million fund units. At the price of 1.06 yuan per fund unit, Guo Xin Securities received a transfer fee of 6.36 million yuan.
However, the transfer income of more than 6 million yuan is obviously not enough to offset the previous investment. It is difficult for Guosen Securities to have a surplus after exhausting all its previous earnings.
In the first two years of Bosera Fund's establishment, Yuyang, the first product fund, brought an annual management fee of 22 1.6 million yuan and 66.4 million yuan respectively, but Guosen Securities transferred its equity in August of the following year. Based on its 25% equity at that time, the management fee income obtained by Guosen Securities will not exceed 654.38+0.7 million yuan.
Equity income, management fee, 1999 Guo Xin received a transaction commission of 2.5 million yuan from boss, and the total income just offset the previous investment. Guosen Securities, as the first shareholder to leave Boss, has almost no income.
In 2003, Bosera Fund made two consecutive equity transfers. In April, 25% of Boss held by Great Wall Trust was transferred to Great Wall Assets due to internal assets reorganization. In February, 65438, Everbright Securities sold 25% of its shares, and another old shareholder, Jin Xin Trust, transferred all of them, and then transferred 2% of them to Guangsha Construction.
From 1998 to 2003, the management fee income of Bosera Fund reached 642 million yuan. In addition, Everbright Securities, as a related party, collects commissions from funds Yuyang, Yuyuan and Yulong * * 15 1800 yuan.
Apart from management costs, the income of Everbright Securities in Boss is still several times that of the initial investment.
However, compared with later shareholders, the income of Everbright Securities is obviously insignificant.
Jin Xin Trust earned over 7 billion yuan.
By the end of 2003, two of Bosera's four shareholders had changed hands. Jin Xin Trust holds 48% of the shares, making it the largest shareholder of Bosera Fund, with China Merchants Securities and Great Wall Assets holding 25% and Guangsha Construction holding 2% respectively.
The four-year holding of Jin Xin Trust is the fastest expansion of Bosera. In 2003, boss managed total assets of 9.6 billion yuan. In the following four years, the assets managed by boss increased by 2,200%, reaching 2.2158.5 million yuan by the end of 2007.
From 2003 to 2007, Bosera's management fee income reached 2,634.38 million yuan. As the largest shareholder, Jin Xin Trust will get no less than RMB 654.38+0 billion.
However, the investment style of Jin Xin Trust has been more radical. Due to the large-scale issuance of trust products, Jin Xin Trust suffered losses and closed down for rectification in 2005. Seeing that there was nothing to do, Jin Xin Trust auctioned its 48% stake in Boss at the end of 2007, and China Merchants Securities won it at a price of 6.32 billion yuan. (Space is limited, see Resources)
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