The thing is, in 20 17, the investor bought the private equity fund he managed, but one year later, Li Wendong, the fund manager, promised that if the investor did not redeem the fund in the next three years, he would personally guarantee that the net value of the fund would be restored to above 1 yuan, otherwise he would be responsible for replenishing the fund to 1 yuan.
However, when the agreed three-year period came to 202 1, some investors lost 1 ten thousand yuan, and some investors lost 982,900 yuan in four years, reaching 9 1.2%.
In fact, Beijing Chiayi Fortune was disqualified as a private placement manager in June this year. In August last year, Li Wendong, the fund manager of the company, was supervised and issued a warning letter for promising to protect investors' principal and income, and promoting it to unspecified objects through WeChat official account.
The fund pays dividends first, and then its net value plummets.
The investor's loss in four years exceeds 9 1%.
According to the civil ruling, on June 2, 20 17, Mr. Li from Beijing signed the Chiayi-Private Equity Elite Fund Contract No.322 with the fund manager Beijing Chiayi Wealth Investment Management Co., Ltd. and the fund custodian China Merchants Securities, and subscribed for the Class A share of Chiayi-Private Equity Elite Fund No.322 with the subscription amount of 1 10,000 yuan.
The Fund was established and started to operate on June 9, 20 17, with an initial net unit value of 1 yuan. 2017165438+1October 14. Mr. Li subscribed for the chiayi No.322 fund with dividends, and confirmed that the subscription share was 459,800; So far, his total share in Chiayi No.322 Fund is 654.38+0.4598 million.
However, the net value of fund units continued to fall later. During this period, Mr. Li called several times to inquire about the investment situation of Chiayi No.322 Fund and the reasons for its continuous decline. However, Li Wendong never disclosed the specific investment of the fund, but only hoped that investors would continue to hold it and ensure that the net value of the fund would be restored to more than 1 yuan.
Against the background of fund losses, Mr. Li received the Supplementary Agreement of Nine Strong Series Private Equity Investment Funds signed on February 2, 2008.
In the supplementary agreement, Li Wendong promised that the investors of the first nine series of private investment funds, including Jiayi No.322 fund investors, would not redeem the funds within three years from February 2, 20 18, and Li Wendong personally promised that the net value of the funds would be restored to 65,438+at the end of three years from February 2, 20 18.
However, after three years, from 20 18 12 to 202 12 15, the unit net value of chiayi fund 322 never exceeded 1 yuan.
In this regard, Mr. Li entrusted his lawyer to issue a power of attorney to ask him to pay him the supplementary money as promised in the supplementary agreement before 202 1 12 19, but he did not respond.
The fund suffered heavy losses. 202 1, 12 On February 20th, Mr. Li applied for redemption of all 1459800 Jiayi No.322 funds held by him. The net value of the fund unit at the time of redemption is 0.088 yuan, and the redemption amount is 128500 yuan. In other words, the four-year loss rate of the fund reached 9 1.2%.
The principal loss of 654.38+00,000 yuan was 982,900 yuan.
Investors questioned the operation of fund managers.
The investor Ms. Song is also in a similar situation. 20 1 1 65438+1On October 6th, she signed the Private Equity Investment Fund Contract of Jiuqiangzi Growth1with Beijing Jiayi Wealth, and subscribed for the fund at RMB110,000. The initial face value of the fund share was 65438.
However, after the fund suffered losses, Li Wendong also signed a supplementary agreement with Ms. Song, promising that if Ms. Song did not redeem the fund within three years from February 2, 20 18, Li Wendong personally guaranteed that "the net value of the fund will be restored to 1 yuan at the end of three years from February 2, 20 18". If the net value of the fund cannot be restored to 1 yuan by then, it will be responsible for making up 1 yuan to Ms. Song, and then the fund investors can redeem it.
Of course, three years later, Ms. Song did not redeem the fund, but by 202 1 65438+February 2, the net value of the fund she held had not recovered to1yuan. She contacted Li Wendong many times and demanded to pay the investment loss according to the supplementary agreement, but Li Wendong kept avoiding it.
The fund held by Ms. Song also suffered heavy losses. At that time, the net fund value had dropped from 0.03 14 yuan to 0.0 17 1 yuan, and the investment loss had reached 982,900 yuan. In other words, the loss rate of the fund reached 98.29%.
In addition, according to the supplementary agreement provided by investor Mr. Cao, if the net value of the fund has not recovered to more than 1 yuan within three years from February 2, 20 1 year, if the fund investor wants to redeem the fund at this time, the redemption process will be carried out in full accordance with the fund contract, and he will not be responsible for the investment with the net value of the fund below1yuan.
The supplementary agreement also stipulates that in the next three years, fund investors shall not interfere with the operation of fund manager Li Wendong, so that Li Wendong can strategically operate the top nine funds and successfully operate a potential bull market in the future.
But in the end, the fund failed to seize the market opportunity and suffered heavy losses.
Mr. Cao, a stockholder, questioned that the 20 18 12 -2020 stock market was full of structural market, and the industry performance was 36.7% in Shanghai and Shenzhen 300, 27.2% in 2020 and -5.2% in 20021year. As a professional private placement management institution, it obviously does not conform to the general trend of the market, seriously deviates from the performance of peers, and violates the common sense of the industry. "It is inevitable that people will doubt whether it has performed its duties in good faith, whether it has seriously damaged the interests of fund holders, whether it has invaded and misappropriated fund property, and whether it has carried out interest transfer."
Upon examination, the Haidian District Court of Beijing held that the Supplementary Agreement signed with the above-mentioned Ms. Song on February 2, 20 18 stipulated that in order to ensure the vital interests of investors of Jiuqiang series private equity funds, make the operation of Jiuqiang series private equity funds run more healthily in the future and maximize the future investment income, Mr. Jiuqiang series private equity fund manager decided to cooperate with you.
1. Investors of nine series of private equity investment funds shall not redeem their funds within three years from February 2, 20 1 8 before the net value of the funds is restored to1yuan. Mr. Li Wendong personally promised that the net value of the fund would be restored to 18+02. If the net value of the fund cannot be restored to 65,438+0 yuan by then, Mr. Li Wendong will be responsible for making up 65,438+0 yuan for investors, who can redeem the fund after making up. This supplementary agreement is jointly signed by Ms. Song. Judging from the contents and signatories of the above supplementary agreement, this supplementary agreement is a personal guarantee provided by Li Wendong for the funds invested in the Song Lihua subscription case, so the nature of this supplementary agreement should be a guarantee contract. Song Lihua also stated that the supplementary agreement is a separate guarantee contract. According to Article 19 of the Guarantee Law of People's Republic of China (PRC), "If the parties have no agreement on the guarantee method or the agreement is unclear, they shall bear the guarantee liability according to the joint and several liability guarantee." As there is no guarantee method in the above supplementary agreement, according to the above legal provisions, the guarantee method should be joint guarantee.
According to Article 22 1 of the Civil Procedure Law of People's Republic of China (PRC), "if the defendant's domicile is inconsistent with his habitual residence, it shall be under the jurisdiction of the people's court of his habitual residence." The case was transferred to the People's Court of Xicheng District, Beijing.
Chiayi Fortune has been disqualified as a private placement manager.
Li Wendong was issued a warning letter by Beijing Securities Regulatory Bureau.
According to public information, Beijing Jiayi Wealth Investment Management Co., Ltd. was established on March 3, 20 1 1 year with a registered capital of100000 yuan. The major shareholder and legal representative of the company is Ma. It is worth noting that on June 24 this year, Beijing Jiayi Fortune was disqualified as a private investment fund manager due to abnormal operation.
On August 25th last year, Beijing Securities Regulatory Bureau issued two administrative supervision measures, and issued warning letters to Beijing Jiayi Fortune and its fund manager Li Wendong respectively.
Specifically, after investigation, Li Wendong, the manager of Chiayi Wealth Fund, has the following violations: First, there are arrangements for non-company employees to receive investors, reflecting that they have not fulfilled their prudent and diligent obligations; The second is to promote and publicize to unspecified objects through WeChat official account; 3. Promise investors that the investment principal will not be lost or promise the minimum income.
The Beijing Securities Regulatory Bureau said that Li Wendong's above-mentioned behavior violated the provisions of Articles 4, 14 and 15 of the Interim Measures for the Supervision and Administration of Private Investment Funds. According to the provisions of Article 33 of the Interim Measures, it is decided to take administrative supervision measures by issuing warning letters.
When does it all start?