1、 Public funds: the pace of investment consultant exhibition industry of securities companies is accelerated, and “securities settlement funds” are developing at a high speed
The rapid development of fund investment advisers and the boom of wealth management have added new momentum to the growth of securities companies: at present, the number of securities companies that have launched fund investment advisory business has expanded to 12. As of December 29, Citic Securities Company Limited(600030) signed assets have exceeded 7 billion yuan; Huatai Securities Co.Ltd(601688) became the first pilot institution to exceed 10 billion. With the high demand of residents for wealth management and booming development, the fund investment advisory business is expected to become an important channel for securities companies to create wealth management increment and improve the stability of overall profitability.
The core advantage of wealth management of securities companies is the ability of consultants, and fund investment advisers are the core of wealth management of securities companies: professional investment advisers and the investment and research ability of system + advantages are the core advantages of wealth management of securities companies. With the gradual advancement of the wave of wealth management, the phenomenon that funds make money but basic people do not make money appears. Investors are limited by the lack of information level and investment ability, and a large number of investment advisory service needs emerge. Good securities companies with strong advisory ability benefit from this process.
It is expected that the high prosperity of the industry will continue, and the securities companies with advantages at the consulting end will win the competition: at present, among the two batches of fund investment consulting pilot institutions, securities companies have accounted for 29, and the pace of exhibition is accelerating. It is expected that the scale of fund investment consulting will continue to rise. Under the background that customers pay more attention to the rate of return, securities companies with solid investment consulting ability and effective transmission of investment ideas to investors will win more markets.
In December, the newly issued scale of equity public funds recovered, and the proportion of “bond settlement funds” was as high as 19.43%. In December, 137.099 billion equity funds were newly established, an increase of 22.30% over the same period last month and a decrease of 21.43% over the same period last year; The total share of newly established public funds was 303657 million, an increase of 46.39% over the same period last month and 2.73% over the same period last year. The share of newly established equity funds this year was 2.19 trillion, an increase of 8.24% over the same period last year; The total share of newly established public funds was 2.98 trillion, a decrease of 4.49% over the same period last year. In December, 19 equity bond settlement funds were newly established, with an issuance share of 26.633 billion, accounting for 19.43% of the issuance share of newly established equity funds this month. The newly established equity securities settlement funds this year totaled 144.1 billion, an increase of 265% over last year, accounting for 6.59% of the newly established equity funds this year, an increase of 4.63 percentage points over last year.
2、 Private equity funds: venture capital funds have grown rapidly and have achieved remarkable results in supporting the development of scientific and technological innovation enterprises
The steady development of private equity funds has played an increasingly prominent role in increasing direct financing, promoting the formation of innovation capital, supporting scientific and technological innovation and industrial structure adjustment. According to the data of China Infrastructure Association, as of December 30, 2021, the scale of private securities investment funds, private equity and venture capital funds reached 6.13 trillion yuan and 12.79 trillion yuan respectively, an increase of 1.4 times and 2.1 times respectively compared with the end of 2016. By the end of the third quarter of 2021, the principal of private equity funds invested in various equity projects was 7.8 trillion yuan, of which the principal invested in small and medium-sized enterprises, high-tech enterprises, seed stage and start-up enterprises accounted for 28%, 26% and 33% respectively. Since the pilot registration system, more than 80% of listed companies on the science and innovation board and more than 60% of listed companies on the gem have received private equity and venture capital fund support.
Venture capital funds grew rapidly. As of December 30, 2021, there were 14512 existing venture capital funds, with a scale of RMB 2.27 trillion, a year-on-year increase of 41.79%. In 2021, 4517 venture capital funds were newly filed, with a year-on-year increase of 72.14%; The filing scale was 223.095 billion yuan, a year-on-year increase of 31.84%.
Investment suggestion: it is suggested to pay attention to the high-quality securities companies CICC h, Huatai Securities Co.Ltd(601688) , Gf Securities Co.Ltd(000776) , third-party consignment agencies East Money Information Co.Ltd(300059) , Hithink Royalflush Information Network Co.Ltd(300033) , private equity target Sichuan Shuangma Cement Co.Ltd(000935) and China Everbright Holdings, which have advantages in both consulting and investment research.
Risk tip: the capital market fluctuates sharply, the progress of fund investment advisory business is less than expected, and the development of private equity funds is less than expected
