In the opening year of the 14th five year plan, the private placement industry grew very rapidly. The head echelon camp expanded again, achieved “double hundred” achievements, and quantitative private placement became the annual “dark horse” of the industry.
Many experts said that 2021 was the year with the greatest change in China’s private placement market. Under the background of residents’ savings moving and market structural market, funds continued to flow in, boosting the rapid improvement of the management scale of the whole market. Among them, the performance of quantitative private placement is particularly bright. Looking forward to 2022, the prospect of China’s private placement market will be broader.
10 billion yuan private placement
expansion to 104
Recently, another private placement ranked among the 10 billion yuan lineup. Up to now, the number of 10 billion yuan private placements of securities in China has increased to 104, which means that at the end of the year and the beginning of the year, securities private placements have achieved real “double hundred” results.
Many experts said that the re expansion of the 10 billion yuan private placement camp is, on the one hand, the inevitable result of the selection of the best among the best funds and the differentiation of the industry “February 8”. Especially in the structural market, the fund performance differentiation is obvious. Private placement managers with mature investment ideas, excellent long-term performance and strong risk control ability are more likely to be favored by funds; On the other hand, with the increase of per capita income, residents’ investable assets are growing. Due to the impact of policies on real estate investment, residents’ investment and financial management needs usher in the peak of transformation from physical assets to equity financial assets. On the whole, the profit-making effect of China’s capital market is becoming more and more obvious, and its attraction has increased significantly. More investors choose to participate in capital market investment by buying funds.
At the same time, according to the data of China Foundation Association, as of the end of November, there were 24500 existing private fund managers, 121500 managed funds and 19.73 trillion yuan of managed funds. Among them, there are 9023 private securities investment fund managers, 74900 private securities investment funds with a survival scale of 6.1 trillion yuan; There are 15000 private equity and venture capital fund managers, 30600 existing private equity investment funds, and the survival scale is 10.51 trillion yuan; The surviving venture capital fund is 13900 yuan, with a surviving scale of 2.26 trillion yuan; There are 9 private equity asset allocation fund managers and 531 other private investment fund managers.
Zeng HENGWEI, wealth management partner of private placement paipai.com, told the Securities Daily that 2021 was a year of vigorous development of securities private placement and obvious expansion of the head echelon. The number of 10 billion yuan private placement was expanded to 104, setting a new historical record. Although the A-share market fluctuated greatly and the investment difficulty increased significantly, the private placement industry rose to meet the difficulties and accelerated its development. On the one hand, thanks to the rapid transformation of private placement managers, they actively adjusted the allocation of stock assets; On the other hand, the outstanding performance of quantitative private placement has helped the development and growth of the 10 billion yuan private placement camp.
Zhang Hui, chief investment officer of Huihong Huisheng investment, also told the Securities Daily that in 2021, the number of 10 billion yuan private placement institutions continued to increase and the management scale expanded rapidly. On the one hand, it benefited from the gradual change of residents’ wealth structure and the gradual release of high net worth people’s demand for highly liquid financial asset allocation; On the other hand, under the background of A-share structural market, institutional investors have shown strong excess return ability, brought rich returns to the majority of investors, and laid a good foundation for the improvement of the management scale of the whole market.
It is worth mentioning that among the 104 10 billion yuan securities private placements, 78 had performance records in the first three quarters, with an overall rate of return of 8.31%. Specifically, 5 had a rate of return of more than 30%, 4 had a rate of return of between 20% and 30%, 12 had a rate of return of between 15% and 20%, 38 had a rate of return of between 0% and 15%, and 19 had a negative rate of return. Among them, among the top ten, quantitative private placement accounted for 7; The top three are quantitative private placement, namely Mingshi investment, Tianyan capital and Xuanyuan investment.
26 10 billion yuan quantitative private placement
all positive gains in the year
The existence scale of private equity securities investment funds has reached the level of 6 trillion yuan, and quantitative private placement has made great contributions.
In 2021, the advantages of quantitative private equity stock selection appeared, and the overall management scale of the whole market expanded rapidly. At present, the market stock is about 500 billion yuan of management funds. Among them, the number of 10 billion yuan quantitative private placements increased to 26, and all achieved positive returns during the year.
Experts believe that China’s quantitative industry has just begun and has a lot of room for development in the future. Thanks to the empowerment of financial technology, quantitative private placement is developing faster and faster.
In fact, the popularity of quantitative private placement is largely attributed to the rise of index enhancement funds. After the Spring Festival holiday in 2021, the A-share market began to adjust, superimposed with the increase of hedging costs, and the neutral strategy products in the stock market suffered a pullback. In this case, a 10 billion yuan quantitative giant launched the “zero redemption fee” policy, and the return of the index enhancement fund of more than 20% has attracted a large number of investors.
According to the data of private placement network, as of the beginning of December, the average annual income of 10 billion yuan quantitative private placement was 18.61%, all of which realized positive income. Among them, the annual income of 9 10 billion yuan quantitative private placements exceeded 20%, and the annual income of Mingshi investment, Tianyan capital, Jiaqi investment and century frontier assets exceeded 30%, 37.12%, 36.08%, 33.42% and 31.31% respectively; The annual income of 13 private placements was between 10% and 20%, and that of 4 private placements was less than 10%.
Industry insiders believe that 2021 is a big year for the development of quantitative private placement, with the continuous emergence of cutting-edge 10 billion yuan quantitative private placement, and the rapid growth of the scale of old quantitative private placement. According to the statistics of private placement network, the private placement with the highest filing number this year is 10 billion yuan quantitative private placement, of which the largest one added more than 400 filing funds during the year.
Citic Securities Company Limited(600030) believes that the performance of the quantitative strategy in 2021 presents two characteristics: first, the performance of the CSI 500 index enhancement strategy exceeds the active equity strategy; Second, from the perspective of the excess return of CSI 500 enhancement fund, the gap between public funds and private funds has narrowed significantly. This is mainly due to the rapid rise in the scale of private equity funds, which dilutes the excess return space to a certain extent.
(Securities Daily)
