Alibaba Roadshow Approaching: Domestic Fund Brewing To Fight New Sea

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< center > < img alt= "Alibaba roadshow approaching: domestic fund brewing for sea to fight new" src= "http://img1.gtimg.com/tech/pics/hv1/239/183/1648/107208104.jpg" width= "271" height= "241" / > /center >

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< p > < a > href= > http://sjfzxm.com/news/index_c.asp > < < /a > > the recent decline has not stopped the fund company from preparing for the group to fight new enthusiasm overseas.

As the listing date of Ali group is approaching, Huaxia Fund and Harvest Fund have launched targeted products recently, and they want to take part in Alibaba IPO's "trendy".

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< p > (Note: playing new refers to the use of funds to participate in the purchase of new shares, if signed, then bought the upcoming shares.

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< p > Tencent science and technology learned that the Huaxia Fund has launched the "Huaxia Fund account overseas directional 1 asset management plan", which aims at new opportunities for Alibaba IPO, with a duration of 3 years, closed operation and annual participation and withdrawal.

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< p > Harvest Fund also aims at launching a new service for group buying by Alibaba IPO, which will be realized through its customized account.

At present, Zhao Xuejun, general manager of Harvest Fund, concurrently serves as general manager of Castrol, and integrates Castrol custom account service into its business segment.

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< p > a broker dealer told Tencent technology that before the Alibaba group's formal roadshow, its underwriters began to make inquiries for large domestic fund institutions to judge the expectation of Alibaba group.

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People close to Huaxia Fund have revealed that many investment banks have approached the Huaxia Fund to express their intention to distribute Alibaba shares. However, due to the fact that the size and issue price of Alibaba group have not been determined, the P fund is still on the sidelines.

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< p > fund's "crowd raising" business: go to sea to fight new < /p >.

< p > mid June of this year, Alibaba group submitted Form F-1/A to SEC.

The prospectus shows that the valuation of Alibaba group is between $93 billion and $116 billion 200 million, with a price ranging from $40 to $50.

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< p > a GF fund investment manager told Tencent science and technology that Alibaba's own valuation and investment bank's valuation to Alibaba group is between 160 billion and 200 billion US dollars, and the valuation of the Alibaba group relative to the prospectus is much higher.

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< p > outsiders predict that Alibaba group's round of financing will be between 15 billion US dollars and 20 billion dollars, which will be comparable to that of Facebook when it was launched.

If you get shares at the issue price, it may be a huge arbitrage opportunity for fund companies.

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< p > fund companies have issued products, which are closely linked with ALI IPO's new opportunities. Their confidence comes from confidence in the stock market in overseas markets.

A fund industry pointed out that the Alibaba group's listing represents a climax of the new economy, which is representative.

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< p > listed Jingdong this year, for example, its issuing price is 16 US dollars, but the stock price is up to 31.22 US dollars, almost doubled. Even now, the stock price pullback to 26.47 US dollars, still rises 65%, like the cheetah issuing price is 14 US dollars, the highest reaches 25 US dollars, the highest increase is 78.5%.

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< p > WIND data show that as of June 30th, Baidu's share price rose 68 times in listing 9 years.

Thunder, Sina micro-blog listed on the first day rose 24% and 19% respectively, but also shows that the huge U.S. dollar earning effect.

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< p > the fund's sea going mode is more similar to the crowd raising. For example, the benchmark of product performance comparison set by Huaxia Fund is set at 8% per annum. If the annual investment income exceeds 8%, and the excess part 20% will be the manager's performance reward, the threshold is only 1000 yuan.

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< p > A's helplessness: beating the new lottery, < /p >.

Since the beginning of this year, when the A shares are newly launched, investors will make profits. The first day of the IPO pactions will be instantaneous trading, and they will normally continue trading for a few days, making them almost double P.

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< p > however, there is a serious problem in domestic IPO, that is, the whole process of buying new shares is no different from buying lottery tickets.

So that the Chinese stock investors call the image of buying new shares new shares, because buying is an estimate of the price.

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< p > take 4 new shares listed in June as an example, and get hundreds of times of purchase volume. Finally, the success rate of investors is poor 0.833%, 0.458%, 0.544% and 0.437% respectively.

Such a low success rate is not a good thing for fund companies.

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Relatively speaking, it is not easy to buy shares of quasi IPO enterprises ready to be listed in Hongkong or the United States, and need to start at least 2 million dollars. This directly blocks the majority of retail investors and becomes a huge advantage of large fund companies and investment institutions.

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< p > a fund company official said that there is no real outstanding Internet company stock in China, but the demand for overseas assets allocation is increasing, and domestic A shares have no chance.

"We design the main IPO, minimize the initiative management. Customers are not concerned about a stock of Alibaba group. We provide a channel for customers and more quality companies."

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< p > fund's hesitation: is Ali issuing price too high? < /p >

< p > Alibaba group is so hot that many companies have been eager to try before its roadshow.

Some Internet Co executives are not afraid of the current big drop in technology stocks. They say that the fund economy will reduce its vacation before the second quarterly report in 2014 to avoid the risk of quarterly reports.

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< p > in fact, with the approaching of Alibaba group's listing, the stock market will encounter a wave of turbulence.

Analysts point out that this is because the Alibaba itself invests in many stock companies, forming a squeeze effect on each other. On the other hand, Alibaba group, like Tencent and Baidu, belongs to high-quality technology stocks, and is a company that will inevitably hold positions in fund companies.

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< p > a fund company has pointed out that the technology shares held by fund companies account for a certain proportion of total plates. Many fund companies will buy stocks of Alibaba group and reduce their positions to other stocks, which will lead to a decline in other stocks.

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< p > a lot of investment institutions and fund companies have been grinding the knife to Alibaba group, taking the Harvest Fund as an example, through the communication with Alibaba underwriters, they want to buy a group of Alibaba group stocks for a one-time sale price to a few million yuan.

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< p > a fund industry has revealed to Tencent science and technology that at present, the issuing plan of Alibaba stock is uncertain and has some hidden troubles. The new value of Alibaba stock is to avoid mistakes caused by subjective judgment.

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< p > a person familiar with the Huaxia Fund pointed out that the current purchase of new shares by the Chinese fund depends on several conditions: 1, Alibaba pricing; 2, the length of the lock up period of Alibaba's sale of shares; and 3, the scale of fund raising.

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< p > if Alibaba group's issue price is too high or the lock period is too long, it will affect the purchase desire of the Chinese fund.

The above said, "the Chinese foundation will decide how much to buy according to the stock situation of Ali, and if it is too unreasonable, it may choose to wait and see."

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< p > in fact, the fund companies value the Alibaba group's new shares as "the intention of the drunk is not in the wine". More hope is that the new process of going to sea will be ripe, which will lay a foundation for the follow-up cooperation with the listed stocks in the US and attract more users to the overseas market.

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< p > analysts say the products of Huaxia Fund and Harvest Fund are mainly targeted at overseas IPO companies, not limited to Alibaba. Large numbers of companies such as the US group, Sogou, public comment and Le Tek are seeking listing, and fund companies hope to share opportunities for success.

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