Compared with the general decline in stock fund issuance in the early period, the recent issuance of new funds has shown a double scene of ice and fire, and some leading fund companies with strong brands have already “picked up.” Dongfanghong Ruixi, a new fund issued in Japan, sold more than 10 billion yuan in just one morning, far exceeding the planned maximum of 2 billion yuan, and will launch proportional placement. This is also another major trend of proportional placement for new funds after many years.
It attracted more than 10 billion dollars in one morning
According to the reporter's understanding, Dongfanghong Ruixi's sales volume exceeded 10 billion dollars yesterday morning, and the momentum in the afternoon weakened somewhat. China Merchants Bank is a major sales company, with cumulative sales of over 8 billion yuan throughout the day, Ping An Bank sold 200 million yuan, and sales data from Tiantian Fund Network and other channels is unknown.
However, due to strict scale control considerations, Dongfanghong Ruixi did not do much publicity this time. Even China Merchants Bank, which previously promoted it, has kept a low profile, and promotion information can only be seen on some affiliate platforms. According to Dongfanghong Asset Management insiders, the company's channels also require “no questions asked” in terms of scale this time.
Despite being low-key and low-key, Dongfanghong Ruixi was “robbed” like other funds previously issued by the company. In September of this year, Dongfanghong Rui Fengfeng raised 10 billion yuan in a day, then quickly closed the subscription. According to the announcement, if the total amount raised by Dongfanghong Ruixi exceeds 2 billion yuan, the amount of the valid subscription application will be distributed in proportion according to the ratio of 2 billion yuan to the total amount of valid subscription applications.
Based on a subscription scale of 10 billion yuan, the placement ratio is only 20%. If the investor's subscription application is limited to 50,000 yuan, in the end, only a share of 10,000 yuan can be confirmed. However, 10 billion yuan was only yesterday morning's sales volume. Coupled with the volume of sales from various channels yesterday afternoon, the actual distribution ratio should be even lower, and is expected to be around 15%.
Why are there more and more popular products? The director of the equity department of the asset management department of a major brokerage firm in Shanghai told the reporter that there are two main reasons for this: first, under current market conditions, products that stick to value and have excellent long-term performance are scarce; second, investors recognize the long-term investment performance of fund companies, which also reflects the money-making effect of fund products.
Some fund management companies choose to extend the fundraising period
According to the fund company's announcement, in this round of issuance, two funds have announced a deferral of issuance at the same time. Changxin Lishang began raising the regular open hybrid securities investment fund for a year on October 9, 2017. The original subscription deadline was November 10, 2017. Yesterday, it was announced that the fund's fundraising period will be extended to November 17, 2017. The Changxin Lexin Flexible Allocation Hybrid Securities Investment Fund began fundraising on September 30, 2017. The original subscription deadline was November 10, 2017. Yesterday, it was announced that the fund's fundraising period will be extended to November 30, 2017.
Among them, the fundraising period for the Changxin Lexin Fund was extended the most, reaching 20 days. Changxin Xinli also opened a hybrid securities investment fund on a regular basis for a year and extended the fundraising period by 7 days. Among them, the fund manager of Changxin Lexin Hybrid Fund (fund code 004608) is Zhu Junrong of Changxin Fund, and there is no maximum fundraising target during the fund's fundraising period. However, the fund manager of the Changxin Lexin Flexible Allocation Hybrid Securities Investment Fund (fund code 004609) is Zhu Junrong of Changxin Fund, and there is no upper limit on the fundraising target during the fund's fundraising period.
At the same time, the sale announcement also agreed that the total amount of shares raised by the above fund should not be less than 200 million shares, the amount raised should not be less than 200 million yuan, and there should be no less than 200 share holders before it can be declared established. In response, industry insiders analyzed that the poor fundraising situation is the main reason why new funds have extended their fundraising period one after another. However, most of these new funds belong to small and medium-sized fund companies, and the market appeal is not strong.
