165438+1On October 23rd, Shanghai Yin Bao Investment announced that it planned to use its own funds and employee funds totaling 654.38 billion yuan to purchase company fund products this year. This is another 10 billion self-purchase in the industry after 10 investment at the end of 0/0/0 billion.

It is worth noting that due to the low market valuation, private equity funds have set off a wave of self-purchase this year. According to the data of private placement network, as of165438+123 October, 22 private placements had issued announcements of self-purchase during the year, and the total amount of self-purchase exceeded 3 billion yuan, of which 15 private placements paid about 2.808 billion yuan.

There are tens of billions of private placements, indicating that the relative valuation of the market is measured by the relative price-earnings ratio (ERP) of stocks and bonds, which is currently near the historical 10% percentile.

Billions of private equity funds are purchased by themselves, and corporate and internal funds account for more than 20% of the total scale.

Shanghai Yin Bao Investment said in the announcement that based on the expectation of the long-term healthy and stable development of the capital market and confidence in its own investment management ability, it plans to purchase fund products managed by the company with its own funds and employee funds totaling 654.38 billion yuan this year.

This is another 10 billion self-purchase in the industry after 10 investment at the end of 0/0/0 billion. It is worth noting that Yin Bao Investment said that up to now, the internal funds of Yin Bao Group and its companies have accounted for more than 20% of the total management scale of RMB and USD funds, which is quite high in the industry.

It is understood that the total assets managed by Yin Bao currently exceed 30 billion yuan, that is, its own funds exceed 6 billion yuan. It can be seen that Yin Bao, like investors, has put most of its money on its own products. Among them, US dollar funds account for more than 50%, and some customers' products have been held for more than 17 years. Sources of funds include sovereign funds, endowment funds, listed companies' own funds, family offices, etc.

In addition, Yin Bao Group also indicated that it will continue to increase the scale of its own capital investment in the future, and share risks and benefits with investors.

The person in charge of Yin Bao Investment told China, a brokerage firm, that there are two main reasons for self-purchasing: on the one hand, Yin Bao Company has always had the tradition of self-purchasing, and actively encourages employees to invest in the company's funds. The proportion of company and employee investment in the company's management scale has long been in the forefront of the industry, which is highly consistent with the interests of investors; On the other hand, although the current market sentiment is depressed, I am full of confidence in the future market investment opportunities and the company's management ability, so it is difficult to prepare this self-purchase plan with customers.

According to the data, Wang Qiang, founder and chief investment officer of Yin Bao Investment, is the first generation fund manager in China. He founded Yin Bao Investment on 1999. The Yin Bao Greater China Fund (PCF Fund) he managed was established more than 17 years ago, and earned commission income of 16 times in 17 years. It is understood that Yin Bao investment is based on the concept of value investment and adopts the investment strategy of hedging individual stocks in the industry.

During the year, 22 private companies purchased their products by themselves, with a total purchase amount exceeding 3 billion yuan.

As an important institutional investor, private equity funds buy by themselves, that is, they are firmly optimistic about the long-term performance of the market with "real money and silver" and stabilize investors' confidence.

According to the data of private placement network, as of June 23, 2008, 22 private placements have issued self-purchase announcements, and the total amount of self-purchase is about 3.076 billion yuan, including 12 private placements 1 100 million yuan and above, and the maximum amount of self-purchase of a single private placement is about 1 100 million yuan.

In the private placement corps, tens of billions of private placements are the main force of self-purchase. During the year, there were 15 private placements, amounting to about 2.808 billion yuan. 1 01On October 28th, Billion Quantized Private Equity announced that it would purchase its own products not less than1billion yuan.

Since the beginning of this year, Lin Jing Assets, Rubik's Cube Quantification, Hanhe Capital, Ruijun Assets, Jiukun Investment, Ling Jun Investment, Shifeng Assets, Linyuan Investment and Kuantou Property have purchased their own products. The self-purchased amount of private equity investment, Rubik's Cube quantification and average investment of Jiukun reached 360 million yuan, 350 million yuan and 654.38+0.5 billion yuan respectively.

In addition to announcing the self-purchase, according to incomplete statistics, since September, nearly 1,000 private placement institutions and their employees have subscribed for their private placement products, with a total subscription amount of nearly 5 billion yuan. A number of institutions said that A shares have entered the value range.

"With the adjustment of real estate policies, more accurate and efficient epidemic prevention and control policies and the slowdown of the Fed's interest rate hike, several factors that have had the greatest impact on the macro economy and the capital market in the past two years have turned around. We are neutral and optimistic about the structural investment opportunities of Huaxia Assets in the capital market for some time to come. " Yin Bao Investment said.

Billions of private equity capital also said that although A shares and Hong Kong stocks have rebounded to some extent recently, many investors still lack confidence, stay put and even take a defensive stance. At such a node where there are still differences, we give a very clear view: we are now at the starting point of the bull market and are very positive and optimistic about the market outlook.

"Looking back at the historical trend of A shares in the past 10 years, we can draw the conclusion that the current market valuation is already at a very low level. Within Juju Capital, the relative valuation level of the market is measured by the relative price-earnings ratio (ERP). At present, it is near the historical quantile 10%. If you hold it at this valuation level for more than one year, the probability of obtaining positive returns is close to 100%. Although the index has not performed well in the past year, it can be said that the worst time has passed. " Gathering capital said.