Will you get on the bus again?A shares fell but welcomed the public offering “chicken blood” six public offering giant institutions spent 540 million yuan from the purchase

2022-04-29 0 By

Fund from buy again “add code”, industry giants, “100 billion top flow” have also joined the ranks.On January 27, a number of public offerings, including Yi Fangda, Huitanfu, Guangfa, Fuguo, Nanfang and Harvest, announced that they would use their inherent funds to purchase their equity public offerings, with a total self-purchase amount of 540 million yuan, among which Huitanfu invested 200 million yuan to purchase their products.It is worth mentioning that just a day ago, gulen, a new billionaire, and his china-Europe Fund also invested a total of 52 million yuan to buy related products themselves.However, Beijing Business Daily reporters noted that different from institutional investors have “increased”, the panic of individual investors has not seen the subside.Head institutions have “shot” market plunge, fund “from buying tide” but do not stop.By the end of Jan. 27, the three major A-share indexes were down again, with the Shanghai Composite index falling 1.78 percent to 3394.25 points, the Shenzhen Component index falling 2.77 percent to 13398.84 points and the Chinext index tumbling 3.25 percent to 2906.76 points, according to Flush data.Under the “heavy fall” of the A-share market, institutional investors began to enter the market in large numbers, in contrast to the panicked performance of individual investors.Reporters from Beijing Business Daily noticed that on January 27, a total of six public companies announced to purchase their own products, with a total purchase amount of 540 million yuan.Among them, Huitanfu Fund announced that, based on the long-term healthy and stable development of China’s capital market and the confidence in the company’s investment management ability, in line with the principle of risk sharing and benefit sharing with the majority of investors, it will invest 200 million yuan to apply for the HUitanfu MSCI China A50 Connectivity exchange-traded index securities investment fund.In addition to the funds added to the rich, January 27 at the same time there are a number of head public have announced since the purchase of its products.To be specific, Yi Fangda fund invested 100 million yuan to purchase its active partial stock fund;Guangfa Fund also with the inherent capital of 80 million yuan to purchase the company’s equity public offering fund;Wells Fargo Fund invested 60 million yuan to purchase the company’s equity and mixed public offering funds;Harvest Fund, southern fund respectively use 50 million yuan, not less than 50 million yuan of inherent capital investment company’s partial stock fund.In addition to the Southern fund will hold relevant products for no less than three years, the other institutions said that the holding period is no less than one year.And just the day before, Hua ‘an fund also announced that it will use the inherent capital to purchase the company’s partial public offering fund, the total investment is not less than 50 million yuan.In addition to institutions, the new “100 billion top flow” also made moves.On January 26, cEIbs fund announced that it would use its own funds to purchase cEIBS medical and health mix and CEIBS Medical innovation shares totaling 50 million yuan.At the same time, fund manager Glen will also apply for the above products totaling 2 million yuan.Ceibs also mentioned in the statement that it will use its own funds to purchase related products within 30 trading days from the date of the announcement, and the company and Grenn will hold the products for more than three years.In just two days, the industry head institutions and top flow fund managers have “shot” from the purchase, why?In the opinion of guo Shiliang, a financial commentator, this is a “self-help” act by fund companies, but behind the “self-help”, on the one hand, to maintain the company’s own image, on the other hand, to stabilize investors and avoid the risk of centralized redemption.The irrational fall, this time the market expectations of further fed rate rises is a catalyst, but panic into market to accelerate the adjustment of the amplifier, the fund since the purchase is more likely to belong to a stable market strategy, but the key still should see the asset allocation ability of the fund managers, market environment and policy environment is recovered.”In fact, it is the difference between professional investors and ordinary investors, between rational investors and irrational investors,” said a senior industry researcher.The market has tumbled, ordinary investors may feel ‘caught up’ and start to get angry, while institutional investors have already started to subscribe.”Why the head fund company?It is not difficult to see from the foregoing data that the “increase” from the purchase are industry head institutions.So, why is it that the head organization appears self-purchase behavior?A large public offering insider told Beijing Business Daily, “This is mainly to show that we have confidence in the market and continue to be optimistic about the long-term development of the A-share market. After all, it is useless to just say so. We also want to prove our confidence in the market and our products with practical actions.”Why do relevant institutions and fund managers have greater confidence in their products?Ceibs told Beijing Business Daily that based on its confidence in the long-term healthy and stable development of China’s capital market and its investment management ability, and on the principle of sharing risks and benefits with investors, cEIBS and its fund managers made the decision to buy and hold relevant funds for a long time.But there are also industry insiders think that the head of institutions have to sell from purchase or related provisions.The aforementioned researcher mentioned to Beijing Business Daily that the CSRC had previously issued relevant regulations, which not only clarified the operation and management of fund companies’ own funds, but also had clear requirements on the allocation of equity assets.”Small and medium-sized companies, especially new ones, are still in the capital burning phase, so there are strict rules on product allocation, especially high-risk allocation.On the other hand, large companies may have more than 1 billion yuan of their own capital, so they have more capital to buy from themselves than small and medium-sized companies.”Reporters from Beijing Business Daily noted that the CSRC issued the Interim Provisions on the Use and Management of Inherent Funds of Fund Management Companies in August 2013, which stipulated that inherent funds of fund management companies could invest in financial assets and make equity investments related to asset management business.Among them, the proportion of holding cash, bank deposits, Treasury bonds, funds and other high liquidity assets shall not be less than 50%.It is worth mentioning that the reporter of Beijing Business Daily noticed that individual investors are quite different from institutional investors in the context of the market plunge.There are more individual investors in A video platform for the recent a-share plunge situation to express their opinions, during the period is once emotional and difficult to control.But to the head fund company buys behavior in succession from oneself, base civilian people’s attitude also differs somewhat.Beijing Business Daily reporter noticed in an open discussion forum, there are many basic people to institutions and star fund managers from the purchase of voice of doubt, but there are also some investors are willing, but no power.Among them, some of the people do not “pay the bill” for the behavior of buying from institutions, and said bluntly that “institutions treat, retail investors pay the bill” and “deceive retail investors to take over, where is your conscience?””It’s no use. Nobody believes them anymore.”But there are also some base people want to vote with, but it is powerless, more frankly, “now there are a few steel beng, what what all can not fill” “lie flat” “can not move.”Guo Shiliang believes that for individual investors, in the process of irrational market decline, there is no need for excessive panic.In addition, “self-buying tide” may be a reflection of the bottom of the valuation, but the bottom of the market is more likely to need to consider some emotional factors, behind the irrational panic in the market, it is also possible to reach the bottom of the market in advance.The researcher suggested, “The market is open, and investment trading is the result of people’s own decisions and judgments based on all the information in the market.Therefore, it is suggested that investors should be calm, and more reference, more learning, to get close to the behavior of institutional investors.Beijing Business Daily reporter Yue Pinyu Li Haiyuan