In the context of increasing losses of private placement products, there are head private placement to stabilize investor confidence. The manager of Dongfang Hebin said that the net value of all well-known funds that were less than 1 yuan in the last week's meeting would no longer be charged by Dongfang Hebin, and the manager of Dongfang Hebin said that the net value of all private funds that were less than 1 yuan would not be charged again.
Dan Bin said that this decision will reduce the company's revenue by nearly 100 million yuan and put pressure on the operation.
According to the data of private placement network, there are 72 products under danbin whose net value of performance is less than 1 yuan, of which 29 products are less than 0.8 yuan, that is, the current floating loss is more than 20%.
revenue will drop sharply by 100 million
Since the new year, affected by the market downturn, the net value of private placement products has fallen sharply, and the pressure on management, operation and investment has increased significantly.
Just a week ago, the products of 10 billion quantitative private placement Hefu investment touched the warning line. The private placement announced that the management fee would not be charged until the net value of the product returned to 1 yuan, while Dan bin expanded the scope of no management fee to all products with a cumulative net value of less than 1 yuan.
Dan Bin issued a document that the Eastern Harbour had been established for 18 years, and experienced some economic achievements in 2008, the Baijiu crisis, and the sharp fall in the stock market in 2015. In general, some achievements have been achieved. But since the Spring Festival in 2021, the investment in A shares and Hong Kong stocks in the Eastern Harbour has not been done well, which makes him very worried.
"At a meeting with shareholders last week, it was decided that the management fee will not be charged for all products with a cumulative net value of less than 1 yuan, and will be charged when the net value rises above 1 yuan." Dan Bin said, "this decision will reduce the company's revenue by nearly 100 million yuan and put pressure on the company's operation. But in difficult times, we hope to tide over the difficulties with our customers."
Liu Youhua, research director of private placement network, said that the exemption of management fee demonstrates the responsible attitude of private placement managers. When the market is bad and investors suffer losses and their confidence is hurt, private placement managers transfer profits to investors through the exemption of management fee, which reflects the determination of private placement managers to tide over the difficulties with investors, and will also enhance the confidence of investors, Avoid panic redemption and damage the interests of holders.
As early as February 11, Dan Bin said on his microblog, "at present, our products have done a good job in corresponding risk control, and the net value is relatively stable. The trading department and I have always been cautious to deal with it. At present, there are more market panic under the volatile market."
Some industry insiders said that as the top 10 billion private placement, Dan Bin's decision not to charge management fees may change the industry ecology, that is, when private placement products do not make money, they do not charge management fees.
private investment pressure soared
According to the data of private placement paipai.com, there are 72 products under danbin that show performance, and the net value is less than 1 yuan. In terms of product establishment time, many of them are at the end of 2020 and the beginning of 2021, and the management scale of Dongfang harbor once reached 40 billion yuan. At that time, many stocks were near historical highs. After Dan bin established his position, the net value of products has been poor, and it has fallen sharply this year, putting great pressure on customers and channels.
According to Dan Bin's past investment style, the heavy positions may be big blue chips such as Maotai and Tencent. Since this week, Maotai has fallen below 1800 yuan, and Tencent has also fallen sharply by 8.77% this week, that is, the net value of danbin products may continue to fall this week, and the holding pressure of investors is intensified.
China Industrial Securities Co.Ltd(601377) according to the latest research report, Maotai's revenue is expected to grow by about 11.2% in 2021, with medium and low growth for the second consecutive year. In 2021, the output of Maotai base liquor will be about 56500 tons, and the original expansion plan has been successfully completed. According to the calculation of the relationship between base liquor and finished liquor, it is estimated that the supply and marketing volume of Maotai liquor will be about 39000 tons in 2022, and the year-on-year growth rate is expected to reach large single digits or even double digits. With the combined efforts of guaranteed volume growth, optimization of marketing system and upgrading of product structure, it is expected that Maotai will successfully get out of the U-shaped bottom of growth rate built from 2020 to 2021 and enter a new stage of accelerated development in 2022.
Although Maotai has attracted much attention in a shares, the valuation has been high. At present, the share price has fallen to 1764.11 yuan, and the valuation is still 44 times. Investors still need to wait for some time to return to the high of 2500 yuan.
It is understood that in order to prevent risks, many private equity fund products have set up early warning lines and stop loss lines. For private equity funds with different strategies, the early warning line and stop loss line are not the same. Taking long private placement of stocks as an example, it is common that 0.8 yuan is the early warning line and 0.7 yuan is the loss line.
By the end of January, 1131 private equity funds had fallen below the traditional warning line, that is, the net value had fallen below 0.8 yuan, of which 84 of 11 10 billion private equity funds had been recruited. Another 460 private equity funds fell below the stop loss line, that is, the latest net value was less than 0.7 yuan.
With the further fluctuation of the market, the investment pressure of private placement is significantly increased, and many products may touch the early warning line and liquidation line at the end of the month.
