Recently, it was revealed that the private fund products of big V Yunmeng were liquidated.
Yunmeng was famous for making a lot of money in China Merchants Bank Co.Ltd(600036) and later established private placement. China Securities News · China Securities Taurus reporter contacted Yunmeng for the first time. He said that the online news was untrue. However, in April this year, Yunmeng said that high leverage suffered a sharp decline and suffered heavy losses.
A few days ago, another big V triggered a heated discussion due to the heavy loss of shares in the heavy position. Fund sources said that we need to be vigilant about the aggressive investment style of the market.
the net value of heavy bank shares fell sharply
According to the source: “big V Yunmeng decided to close its private equity fund. Due to the purchase of Hong Kong bank shares, the undervalued bank shares continued to fall, resulting in the net value of private equity fund below 0.4.”
The big V Yunmeng is well known by netizens for “earning 5 million over China Merchants Bank Co.Ltd(600036) 7 years”. At present, the number of fans exceeds 380000.
The news spread quickly on the forum. China Securities News · China Securities Taurus reporter contacted Yunmeng for confirmation. Yunmeng replied: “it’s just a rumor. Everything is still normal.”
Yunmeng fund is an offshore private equity fund issued by Yunmeng investment company. The reporter inquired on the official website of the Cayman Islands Monetary Authority (CIMA) and found that Yunmeng investment company is still in an active state. However, the specific situation of the fund cannot be queried, so it is difficult to confirm the operation status of the fund. In addition, the China Foundation Association website did not query the relevant filing information of Yunmeng fund.
As a group of early famous big V, Yunmeng is a loyal supporter of bank stocks and focuses on the research of bank stocks. He has firmly invested in China Merchants Bank Co.Ltd(600036) since 2007 and benefited a lot from the rise of bank stocks in 2014. Since then, he has become famous in the first World War. In 2017, Yunmeng established an investment company to issue a private fund, Yun Meng fund. In his reply to netizens, we can see that his position is still dominated by bank stocks, using high leverage for investment. Positions include Industrial Bank Co.Ltd(601166) , China Minsheng Banking Corp.Ltd(600016) , China Huarong, four banks, etc.
However, Yunmeng’s entrepreneurial road is not smooth. Since 2018, the performance of his heavily bet bank track has not been satisfactory. In October 2018, Yunmeng disclosed the net value of the fund in the article. At that time, his fund operated for only more than one year, but its net value had been halved, only 0.42514 yuan.
As of April this year, Yunmeng said that his net fund value was still in a very low position, and the losses were very heavy due to the sharp drop in high leverage. Now it is slowly getting better and looking forward to getting on track.
An industry insider said: “many so-called big V or folk experts have radical operation styles, and the investment and research ability circle is relatively single, and their positions are relatively concentrated, so their adaptation to the market is relatively limited.”
full warehouse Zhongyu shares quick liquidation
In fact, many private equity funds founded by big V have been liquidated recently.
On the evening of December 24, Shanghai snowball leader 1, a private placement product managed by a large V, issued a liquidation announcement. The product was established in March this year. As of December 17, the net value was only 0.684. In less than a year, the net value decreased by 31.60%, and finally went to liquidation.
Statistics show that Shanghai snowball Investment Management Co., Ltd. is the product manager. According to the information of China Securities Investment Fund Association, it was established in 2015 with a management scale of 2 billion yuan to 5 billion yuan.
Relevant information shows that the fund manager often operates full positions and heavily positions in Internet stocks. In July this year, he said: “Chinese Internet companies with heavy positions are buying more and more, and they are already full. In the case of full positions, there is nothing to do except compare the valuation and move their positions appropriately.”
However, over the past year, China concept stocks on the Internet continued to callback, and the net value of the fund also fell all the way. It withdrew more than 5 percentage points for many short-term times, and finally announced the liquidation because it was lower than the 0.7 liquidation line.
watch out for
It is not difficult to find that the above-mentioned private placement big V products are heavily loaded in a single industry sector, and are still highly concentrated when the market style is inconsistent with expectations. For “betting” on a single track, A private equity fund manager in Beijing said: “if the allocation direction is very concentrated, even if it is right in the end, the process may be more twists and turns. Taking new energy as an example, the trend is upward this year, but the fluctuation in February is also very large. If the positions are very concentrated, the net value performance of the fund will fluctuate sharply, which is unbearable for the holders.”
Facing the extremely differentiated market situation of the track this year, industry insiders believe that dynamic tracking of the market and flexible response have become more important than ever. The above private equity fund manager said that due to the extremely fast rotation of style this year, it is necessary to be relatively balanced in industry configuration and conduct dynamic tracking in time. “Because it is difficult to predict the market, we can only make a vague assumption about the market, and then continue dynamic tracking. Many things can not be predicted in advance. Investors need to dynamically adjust their judgment on the future based on the changes of core factors.”
(China Securities Journal)
