The market closed red in July! On the last trading day of July, the three A-share indexes rose collectively, and the Shanghai Composite Index stood at 3,3 points again, and the turnover of the two cities continued to exceed 1 trillion yuan. For the whole month, the main core indexes all rose by more than 1%, among which the Shanghai Composite Index rose by 1.9%, the Shenzhen Component Index rose by 13.72% and the Shanghai Composite Index rose by 14.65%.

From the performance of the industry sector, the biggest feature of the market in July was the high volatility. From the market outlook, the possibility of switching from short-term style to low-valued finance, real estate and traditional cycle increased. Looking at the private equity circle in July, there are these big things!

1

Two veteran private placements in Shenzhen have been promoted to 1 billion, and the core figures are all big coffee drinkers.

The 1 billion private placement camp has always been eagerly concerned by the market. For private placements, it is not only the uncrowned king of the industry, but also an important performance that the company's performance and investment philosophy are recognized by investors and institutions.

recently, the management scale of two private fund managers in Shenzhen has exceeded 1 billion successively, namely, Dongfang Harbor in Danbin and Linyuan Investment in Linyuan. The former was established in 24, while the latter was established in 27, both of which are long-term private placements of established stocks in China.

Since the beginning of this year, a number of private equity management scales have been rapidly promoted to 1 billion yuan. In this regard, some private equity sources said: First, the fund's money-making effect is prominent, and institutions have more obvious advantages than retail investors in the context of A-shares going out of the structural market; Second, the funds are reasonable and abundant, the yields of bank wealth management products and money funds have fallen sharply, and the attractiveness of the equity market has increased significantly.

2

5 million yuan was added, and listed companies spent 33 million yuan to buy private equity

In the context of declining bank wealth management income, buying private equity funds has also become a financial choice for many listed companies. According to the incomplete statistics of private placement network, at least 1 listed companies bought 18 securities private placement fund products in 219, with a total investment of 833 million yuan, of which Zhan Peng Science and Technology invested in 7 private placement products including Baoyin Investment, Mingxun Investment and chongyang investment in one breath last year.

By the end of July, six listed companies or their holding subsidiaries, including Yongji, Tianchen, Sanmu Group, Hengrui Pharma, Zhan Peng Science and Technology and *ST Tianma, had subscribed for eight private equity funds with a total investment of 33 million yuan.

Yongji Co., Ltd. subscribed for "Hawthorn Tree Zhenzhuo No.5" with 15 million yuan under Hawthorn Tree Zhenzhuo Assets in May, and added another 5 million yuan in July. This year, it has subscribed for 2 million yuan of this fund, and the total amount purchased by listed companies accounts for 6.61%. According to the master data of private placement, Hawthorn Zhenzhuo Assets, which was heavily subscribed by listed companies, was established in 217, with a management scale of 1-1 million yuan and an annualized rate of return of * *% since its establishment.

In July, in addition to the additional 5 million private investment of Yongji, Tianchen subscribed for 5 million "Baekje Value Growth" and Sanmu Group subscribed for 2 million "Chitai Excellence II". According to the incomplete statistics of private placement network, the total amount of private placement funds purchased by listed companies in July was 12 million yuan.

3

The number of products filed in a single month is the second highest in the year, and 222 products have been filed in 1 billion private placements.

Judging from the number of private placement funds filed in a single month, March was the peak of private placement filing in the year, and 2,733 funds completed filing in that month. February was the month with the lowest number of registered funds during the year. Due to the Spring Festival holiday and epidemic situation, only 1,219 private equity funds were registered in February, and the number of registered private equity investment funds was less than 1,.

under the catalysis of the bull market, the enthusiasm for filing private equity products has been high since July. According to the monthly data, as of July 29th, 2387 private equity funds have been registered in July, including 1858 private equity investment funds, accounting for 77.83%.

judging from the number of products filed by tens of billions of private placements, 222 funds were filed by tens of billions of domestic private placements in July, and the number of funds filed by Yingshui Investment, Lingjun Investment and Mingxun Investment in a single month exceeded 2, with the issuance of 34 funds ranking first. In addition, the number of monthly filing funds of Ningbo Magic Cube Quantification and Jiukun Investment also exceeds 1.

judging from the main investment strategies of tens of billions of private placements with a large number of filing funds, the number of products filed by quantitative private placements in July was significantly higher than that of subjective bulls. Because the return of quantitative strategy is more stable in the volatile market, the market cries for a bull market, but the bull market has suffered a callback and cooling down. Retreating smaller quantitative funds is also an asset allocation method with obvious advantages.

4

Shocked the private equity circle, Jinniu launched a six-year closed-end product.

It is not uncommon for funds to set a closed-end period. This is because for investors, if they buy at a bull market high point, it is easy to cause losses because of high withdrawal and redemption; For private managers, when the market fluctuates violently, frequent purchase and redemption will greatly increase the difficulty of investment.

In recent years, three-year closed-end products have become popular in both Public Offering of Fund and private equity funds. In July, Hanhe Capital launched a product with a closed period of six years. In fact, Hanhe Capital was one of the private placements that launched a three-year closed period product earlier in China.

The biggest strength of Hanhe Capital's first six-year closed-end product is its past performance. According to the data of private placement network, Hanhe Capital was established in January 213, obtained the license of private placement fund manager in June 214, and became an observer member of China Fund Association on December 3, 216. Up to now, the management scale of Hanhe Capital has already exceeded 5 billion yuan. Hanhe Capital believes in the concept of ultra-long-term value investment, looks at investment targets from the perspective of industrial capital, selects valuable targets and firmly holds them for a long time. The company maintains high position operation all the year round.

from the investment perspective of ultra-long-term value, Hanhe Capital will not choose its timing solely based on short-term market fluctuations, but all operations are based on buying logic and whether the intrinsic value of the company has changed.

5

The number of foreign private placements increased to 27, and the number of UBS asset filing products ranked first

It has been three years since the first foreign private placement fund landed in May 217. In the past three years, the number of private placement funds has surged. From the perspective of foreign private equity managers, 9 companies completed registration in 217; From the perspective of foreign private placement products, 4 products were fully filed in 219, and now it is already over half in 22, and only 18 foreign private placements have been filed, which is less than half of last year.

according to the data of private placement network, as of July 3th, the number of registered foreign private placement managers was 27, and 83 private placement fund products were issued. Judging from the number of products filed, UBS Assets has filed 16 products, ranking first in the number of funds issued in foreign private placements, and Huili Investment has also filed 11 fund products in the same period.

In July, both foreign private placement was approved and foreign private placement fund products were put on record. Bauer Saijia (Shanghai) Investment Management Co., Ltd. (hereinafter referred to as Bauer Saijia) completed the registration with China Fund Industry Association on July 27th. Bisheng Investment, Future Yicai and East Asia Lianfeng each filed a fund product in July, namely, foreign trade trust-Longxin No.5, Future Yicai China Advantage No.1 and East Asia Lianfeng China Diversification No.1. Except for East Asia Lianfeng, which is the first time to file a fund product, many products of the other two foreign private placements have completed the registration.

From the perspective of scale changes, by the end of July, three foreign private placements, DeShao Investment, Tengsheng Investment and Anzhong Investment, had all achieved scale growth. De Shao Investment and UBS assets both live in 1-2 billion yuan, and the management scale of the latter two is 1-1 billion yuan.

6

See also the "wonderful" private placement, where the sales staff hold the fund for investors and the share is less than one million

Although the private placement industry has experienced years of development, it has already become sunny, but there are also some small private placements who fish in troubled waters to disrupt the market and damage the reputation and image of the private placement industry.

Recently, including the China Securities Regulatory Commission, Ningbo Banking Regulatory Bureau recently issued a decision to take corrective measures, and the illegal behavior of private placement is even more amazing. The existing problems include:

1. The information registered by the company in asset management association of china is incomplete and inaccurate.

2. The company has exaggerated publicity in some fund product promotion materials.

3. The company failed to evaluate the risk identification ability and risk-taking ability of some investors; The time for evaluating the risk identification ability of some investors is later than the time for signing the fund contract.

4. The sales staff of the company hold the fund products for investors, and the fund share held by the investors is less than 1 million yuan.

5. The company did not disclose information to investors about major changes in some fund products; Some of the company's fund products did not disclose information as agreed in the fund contract.

6. Some investors lack assets certification materials of qualified investors; Sell fund products to some investors whose risk-taking ability does not match.

7. Some fund products are not disclosed in accordance with the contract.

8. Some fund contracts are missing essential elements such as the amount of capital contributed by the fund; The subscription share of some fund contract investors has not been filled in.

According to relevant regulations, the amount invested in a single private equity fund is not less than 1 million yuan. For investors, choosing formal private placement and participating in private placement investment through formal channels can maximize their rights and interests while gaining income, and "not taking the usual path" is easy to fall into the pit.