Post In The Middle Of The Night! 5 Fund Approved To Participate In Ant Group Stock Strategic Placement

Ant group will be listed on the science and technology innovation board soon. On the evening of September 22, the first batch of five innovative closed-end hybrid funds (hereinafter referred to as "Innovation future fund") were officially approved. They will be able to participate in the strategic placement of ant group stocks, including Huaxia Fund, e-fund, Penghua Fund, China Europe Fund and huitianfu fund.

"These five funds will probably be very popular. On the one hand, they will participate 100% in the IPO of ant group; on the other hand, these funds will also invest in technology, Internet, medical and other growth industries. At present, the market recognition of these funds is still high. Of course, the equity funds of these five institutions have basically performed better, and their market recognition is also high. " Zhang Ting, a senior researcher at GE Shang fortune, said.

Rapid progress in the examination and approval of Innovation future fund

The above-mentioned fund companies have confirmed this news, and 5 fund issuance work is advancing at an alarming speed.

"The papers were approved in the middle of the night." On September 23, a person from a fund company said that the fund was advancing very fast, only 12 days after the fund was reported on September 10.

In addition, on the evening of September 22, the five fund companies immediately put up on the company's official website the recruitment brochures and other documents of "Innovating the closed operation of hybrid funds in the next 18 months" on the company's official website.

The important information shown in the prospectus and the announcement of the sale of the five innovation future funds are as follows: the initial offering was started on September 25, and the raising time ended on October 9; the closing period was 18 months; the minimum subscription amount was 1 yuan; in terms of the initial scale, the upper limit of the five funds was 12 billion yuan, when the accumulated effective subscription application amount exceeded When the fund is 12 billion yuan, the fund manager will adopt the method of confirming the doomsday proportion to realize the effective control of the scale; during the closed operation period, the proportion of the stock assets in the fund assets is 60% - 100%, and the stock investment part can be invested by strategic allotment.

Ant group will be listed on the science and technology innovation board soon. IC photo

In addition, it is worth mentioning that in terms of rate, the above five funds do not charge subscription fees, but charge 0.4% annual sales service fee for fund units. The management rate is 1.50% and the custody fee is 0.20%.

In terms of distribution channels, the five innovation future funds are only sold on ant (Hangzhou) fund sales Co., Ltd., a third-party fund sales agency under ant group, and the direct sales platform of the fund company.

It is reported that the total cumulative fund-raising scale of the five innovation future funds is 60 billion yuan. They all plan to allocate 10% of the new shares of ant group, which is the maximum allowed ratio for a single stock, and the remaining 90% will be invested in other innovation theme directions.

On the evening of September 22, ant group submitted a prospectus (Registration draft) to the Shanghai Stock Exchange, which showed that in addition to the above-mentioned five innovative closed operation hybrid funds in the next 18 months, the five three-year closed operation strategic placement flexible allocation mix (including the products of e-fund, Huaxia, China Merchants, huitianfu and Nanfang) established around July 2018 will also participate in ant group Strategic placement.

Which fund is more suitable?

The industry believes that the five innovative future funds are very attractive to investors.

"The strategic placement of these five funds to ant group will greatly increase the attention of these funds. After all, strategic placement means that 100% of the bids can be won. Ordinary investors can indirectly participate in the IPO of ant group by subscribing to the fund, and the threshold is significantly reduced." Zhang Ting said.

"The five funds are all managed by star fund managers with rich experience and excellent historical performance, and the track in which the fund can invest is a high-quality development track in the long run, which is also in line with the current domestic top-down industrial development direction, so it is hot and attractive to the market." Good buy fund research center researcher Yan Xiong said.

The biggest attraction of the first five innovation future funds is that they can participate in the strategic placement of ant group. Strategic investors do not participate in the off-line inquiry, and the proportion of shares arranged for strategic placement is calculated separately, and the proportion of offline and online issuance is determined after deducting this part. Therefore, the strategic placement fund can give priority to participating in the strategic investment of innovative enterprises. From the perspective of innovation, it can be regarded as having a 100% winning rate.

According to the calculation of China Europe Fund, the average allocation rate of strategic placing investors is 4.25%, while the allocation rate of online and offline new sales is only 0.046% and 0.075% (as of July 22, 2020). In contrast, strategic placement funds can obtain better quality assets.

This investment opportunity has attracted much attention. It is reported that at present, only some institutional investors can participate in the strategic placement. However, through relevant funds, individuals can also indirectly participate in the strategic placement of ant group, which has the opportunity to lock in the new shares of ant group listed in advance. The starting point of investment is 1 yuan.

According to public information, ant group is expected to become the world's largest unicorn, and its listing may also become the world's largest IPO this year.

Ant group mainly has three business sectors: digital payment and business services, digital financial technology platform, and innovation business and others. In 2017, 2018 and 2019, ant group's revenue was 65.396 billion yuan, 85.722 billion yuan and 120.618 billion yuan, respectively. In the first six months of this year, ant group achieved a revenue of 72.528 billion yuan and a net profit of 21.234 billion yuan. According to the prospectus (Registration draft), revenue in the first three quarters will be 114.5 billion-117.5 billion, with a year-on-year increase of 38% - 42%.

In addition to participating in strategic placement, the five innovation future funds also focus on investment opportunities with the theme of "innovative future".

Huaxia Fund said that the company's Innovation future fund will also focus on investment opportunities in new generation information technology, high-end equipment, new materials, new energy, energy conservation and environmental protection, biomedicine, emerging services and other fields.

Huitianfu Fund said that huitianfu Innovation future focuses on investing in theme companies of Innovation future, seeking the stable appreciation of fund assets in the medium and long term.

In fact, five innovative futures funds compete with each other on the same platform. In order to attract investors, fund companies have shown their strengths and sent out powerful generals with long-term achievements.

Mr. Chen Hao, the proposed fund manager of e fund, is now a senior manager at the level of deputy general manager and general manager of investment department I of e fund.

Zhou Keping, the proposed fund manager of Huaxia Innovation future fund, is a famous "catcher of science and technology growth" in the industry. He is now the senior vice president of the stock investment department of Huaxia Fund.

Mr. Wang Penghua plans to take the helm of the future fund of Mr. Wang Penghua. On July 8 of this year, Penghua, who was to be the fund manager of Wang Zonghe, made a clever selection of mixed funds and sold 130 billion yuan a day, setting a new record of fund sales.

Lao jienan, the proposed fund manager of huitianfu Innovation future fund, is the research director of huitianfu.

Zhou Yingbo, the proposed fund manager of China EU Innovation future fund, has rich knowledge of the fields of technology and Internet. He once worked in Tencent's core product department.

Zhang Ting suggested that investors should focus on whether the fund manager's historical performance, investment ability and historical operation style are in the field of scientific and technological growth. Try to choose the products managed by fund managers with excellent long-term performance and strong stock selection ability in the field of scientific and technological growth.

Focus on long term performance

It is worth mentioning that the Innovation future fund belongs to the medium risk level (R3) product, which is suitable for investors with balanced (C3) or above after the evaluation of customer risk tolerance level.

"From the perspective of risk return, in the long run, it is not suitable to focus only on the strategic allocation of ant group. The long-term performance of the fund depends on the overall selection of other positions and the effectiveness of long-term stock selection. As the track is in the technology track, the overall risk return characteristics are not small, but the long-term potential return is higher." Yan Xiong reminds me.

As for the issuance and position setting time of Innovation future fund, Yan Xiong said that at present, the valuation of gem is not cheap. From the perspective of valuation, it is not the best time point. However, from the perspective of long-term development potential, periodic time or timing may not be the most important, but investors need to endure short-term fluctuations.

Zhang Ting believes that from the perspective of income and risk, the long-term investment return of these science and technology growth funds should be relatively considerable. There is a certain structural overestimation in the short term, and there may be large fluctuations. However, these plates have been reversed recently. The market will face more disturbing factors in October, such as the US election, the Taiwan Strait situation, Sino US friction and epidemic situation There will be a big fluctuation in the plan. If we can raise funds in October, it will also be a good time to build a position.

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