I. Legal structure:?

1 hedge fund: hedge fund is a limited partner structure initiated by hedge fund companies as general partners and investment management consultants and investors as limited partners. ?

2 Sunshine Private Placement: Sunshine Private Placement refers to the securities investment trust collective wealth management products issued and established by an investment consulting company as the initiator, investors as the trustor, trust companies as the trustee, and funds entrusted by a third-party bank. ?

2. Investment scope:?

1 hedge fund: theoretically, you can invest in any asset class, including but not limited to stocks, bonds, derivatives, currencies, real estate, land, etc. ?

Sunshine private placement: mainly investing in secondary market securities, mainly investing in stocks. ?

3. Investor:?

1 hedge funds and sunshine private placement are private placements for a few specific qualified investors, and there is generally a minimum subscription amount limit. In the United States, a few specific authorized investors are defined as investors whose income has exceeded $200,000 or whose net assets have exceeded $654.38 million in the past two years. ?

In China, investors who buy Sunshine Private Equity need to meet the requirements of "compliant investors", that is, they have the corresponding risk identification ability and risk-taking ability. The investment amount of a single private equity fund is not less than 6.5438+0 million yuan, and the personal financial assets are not less than 3 million yuan or the average annual personal income in the last three years is not less than 500,000 yuan. ?

4. investment strategy:?

1 Hedge funds: Different hedge funds have their own good strategies. Common investment strategies include market neutrality, hedging quantification, global macro, event-driven, emerging markets and so on. These strategies usually use a lot of leverage to increase returns, and can flexibly set long and short investment goals. ?

2 Sunshine Private Equity: Although Sunshine Private Equity is not limited by the minimum position in Public Offering of Fund, the investment ratio can be between 0- 100%, but it is not allowed to directly short stocks. Although Sunshine Private Equity can use leverage in a structured way, there are strict restrictions on leverage multiples and underlying asset types.

Extended data:

Funds that use hedging transactions are called hedge funds, also known as hedge funds or hedge funds. It refers to a financial fund that aims at profit after financial derivatives such as financial futures and financial options are combined with financial instruments. It is a form of investment fund, which means "risk hedge fund". Hedge funds use various trading methods to hedge, transpose, hedge and hedge to make huge profits. These concepts have gone beyond the traditional operation scope of preventing risks and ensuring benefits. In addition, the legal threshold for initiating and establishing hedge funds is much lower than that of mutual funds, which further increases the risk.

Private placement fund refers to a securities investment fund that raises funds from specific investors in a non-public way and invests in securities. Private equity funds are raised by means other than mass communication, and promoters set up investment funds to invest in securities by collecting funds from non-public multi-subjects. 20 14 12 3 1, in the insurance industry, with the pace of 20 15, the use of insurance funds has landed one after another.

On the eve of New Year's Day, the CIRC approved insurance funds to set up private equity funds to support the development of small and medium-sized enterprises. 20 15 12.23 news, 17 the qualification of private fund manager of commercial banks will be revoked. Caixin According to the report of China Asset Management Network, a number of commercial banks have received the notice from the window of China Banking Regulatory Commission, and the regulatory authorities will revoke their registration qualification with China Asset Management Association according to law.

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