According to different standards, private equity funds have many classification methods. There are only common investment targets here. From the international experience, the investment targets of private equity funds are very extensive at present. In the United States and Britain, for example, the investment objects of private equity funds include stocks, bonds, futures, options, warrants, foreign exchange, gold and silver, real estate, information software industry and venture capital of small and medium-sized enterprises. The investment scope ranges from money market to capital market to high-tech market, from spot market to futures market, and from domestic market to international market.
According to the above objects, they can be divided into three categories:
1, Securities Investment Private Equity Fund As the name implies, it is a fund that mainly invests in financial derivatives such as securities, and hedge funds such as Quantum Fund, Tiger Fund and Jaguar Fund are typical representatives. Basically, managers design their own investment strategies and initiate the establishment of open-end private equity funds, which can adjust the investment portfolio and change the investment concept in time according to the requirements of investors and the development trend of the market, and investors can redeem them according to the net value of the funds. Its advantages are that it can be tailored according to the requirements of investors, the funds are relatively concentrated, the investment management process is simple, a large number of financial levers and various forms of investment can be used, and the yield is relatively high.
2. Industrial private equity funds such funds mainly focus on investment industries. Because fund managers have a deep understanding of certain industries such as information industry and new materials, and have extensive contacts, they can initiate the establishment of industrial private equity funds in the form of limited partnership. Managers spend very little money only symbolically, and most of them are paid a raise. Managers should bear unlimited responsibilities while obtaining large investment income. This kind of fund is usually closed for 7-9 years, and will be settled in one lump sum at maturity.
3. Venture private equity funds mainly invest in the rights and interests of small and medium-sized high-tech enterprises in the initial stage and growth stage, and share the high income brought by their rapid growth. Its characteristics are long payback period, high income and high risk.
legal ground
Measures for the registration of private investment fund managers and the filing of funds (for Trial Implementation).
Article 3 Private fund managers shall, within 20 working days after the completion of private placement and fund raising, put on record through the private fund registration and filing system, indicate the fund category according to the main investment direction of private funds, and fill in the fund name, fund scale, investors, fund contract and other information. The fund industry association with complete filing materials for private equity funds and meeting the requirements shall, within 20 working days from the date of receiving all filing materials, publicize the basic information of private equity funds through the website.