What are the types of private equity funds?
_ _ First, Sunshine Private Equity Fund. This kind of fund is initiated by a private entity, and its shareholders can be legal persons, natural persons, partnerships or sole proprietorships, thus creating relative freedom. Private equity funds in the general sense refer to this. Products established by such private equity funds usually have "XXX Private Equity Investment Fund /XXX Private Equity Investment Fund" added after their names. As the name implies, the investment target of private equity investment funds is securities, and the investment target of private equity investment funds is equity. In addition to these two categories, there is another category that will be introduced later.
_ _ Second, brokerage asset management companies. In the past, when the asset management business was not as hot as it is now, asset management was only a department of securities firms. Later, the asset management business was in full swing, and many brokers separated the asset management business and set up separate companies to be responsible for their own profits and losses and independent accounting. This is a brokerage asset management company. The well-known brokerage asset management companies include Huatai Securities Asset Management Co., Ltd., Guotai Junan Asset Management Co., Ltd. and Haitong Securities Asset Management Co., Ltd.. Private equity products issued by such asset management companies are mostly marked with the words "XXX Asset Management Plan" after their names. Some large securities firms have applied for public offering licenses after the scale of asset management has expanded. Therefore, it should be noted that not all products of brokerage asset management companies are private equity funds.
_ _ Third, trust companies. The products issued by trust companies are collectively referred to as "XXX Trust Plan". Trust plan can be said to be omnipotent to some extent, which can be used as financing tool, investment tool, non-standardized product, standardized product, loan channel and investment target. Among them, the collective fund trust plan is similar to the brokerage asset management plan mentioned above, which can invest in standardized securities and also constitutes a major force in the private equity market.
_ _ Fourth, publicly issue products for special fund accounts. As we said above, brokers who started from private placement can apply for public offering licenses; Public Offering of Fund can naturally do private equity products, that is, special account funds. The special fund account is a "one-to-one" product customized by the fund company for the special risk-return preference of ultra-high net worth customers and institutional customers. The reason for targeting ultra-high net worth customers and institutions is that the initial assets entrusted by customers in special fund accounts shall not be less than RMB 30 million, unless otherwise stipulated by the China Securities Regulatory Commission.
_ _ Fifth, in addition to brokerage asset management, there are two types of asset management companies, namely futures asset management and insurance asset management. Among them, with the development of China's insurance market, the scale of insurance asset management is increasing, and many insurance companies have set up their own asset management departments independently, such as Taikang Asset Management Co., Ltd.