The Fund Will Invest In Big Changes. Players From The Banks Will Enter The New Arena.

Following the public offering fund, the third party fund sales company and the securities company, in December 19th, Ping An Bank also admitted joining the ranks of the applicants.

A few days ago, the SFC issued the second batch of institutions that were awarded the pilot project of publicly raising the investment advisory business of securities investment funds, namely, 3 independent fund sales organizations, such as tengan fund, ant fund and Zhuhai surplus rice fund. Together with the 5 qualified companies in October, such as cashmere, Huaxia, Yi Fangda, South and central Europe, there are 8 institutions that have the qualification to raise public funds.

The entry of banks makes the battlefield more noisy.

"At present, funds, brokerages, banks and other institutions are enthusiastic about reporting business, because this is a new business model that may increase future business volume." Yang Delong, chief economist of Qianhai open source fund, said.

A number of agencies that have been selected to participate in the pilot projects reported to the economic news reporters twenty-first Century, they are now paying close attention to the layout.

The layout of institutions is tight.

The fund has been paying close attention and the fund industry will usher in a "subversive change".

In December 19th, Xiao Wen, CEO of Ying Mei fund, pointed out that the pilot project was a very important milestone in the wealth management industry. The transformation of the wealth management industry from "seller agent" to "buyer agent" is promoted from the system design. Under the background of the new regulation on wealth management and the reconstruction of the behavior and values of wealth management industry and asset management industry, it indicates that China's wealth management industry begins to shift from product centered to customer centered, from extensive growth to intensive cultivation.

Ying MI is the second batch of institutions that have obtained the qualification of public offering fund to invest in business.

"We are very concerned about the domestic investment business and hope to participate in the business." A senior official with a fund raising company with foreign background said.

Attention to business is not an isolated phenomenon. "As far as I know, all financial institutions are very concerned about the problem of investment and actively declare materials. Only some of them have been declared, and some have not yet been declared. From overseas precedents, we can see that the future is a market for investors, and investment will play a huge role in asset management. A senior broker said.

According to the reporters, the SFC has always been willing to implement the pilot project, and has made many rounds of research. As early as 2018, a number of interested institutions have reported the plan.

It is reported that up to now, at least more than 10 financial institutions have applied for pilot projects. These institutions include fund companies, third party companies, brokerages and banks. Their business models are different. Some have already invested in products, others have not yet had products.

In December 19th, people from the southern fund and the China fund told reporters that the business has been online.

According to the southern fund, the southern fund's business model is that the southern fund is working with the three party sales platform every day, and has recently launched the management fund business.

With the help of the massive fund products of the daily fund platform, the South Fund realizes the "market public fund product configuration", and relies on the perfect account system and post investment service support to provide customers with the business of investing. This kind of investment mode is to hope that the cooperation between the two institutions will play an advantage of 1+1>2. It is reported that the move has no precedent in the industry, or the first initiative.

New Arena

Recently, China Fortune's fund investment service has also been formally launched. Now investors can log in to China Fortune official website, Hua Xia fortune APP, or all financial centers under the Chinese wealth line.

What is worth noting is the preferential rate of China's service. According to the latest announcement, the fund's service fee rate given by China's fortune is lower than most of the public offerings of FOF products in the market. Specifically, the premium rate of currency premium is 0.2% per annum. The annual rate of fixed income optimization and index rotation combination rate is 0.3% each year. The optimal portfolio of equity, educational investment series and pension investment series are 0.5% each year. Moreover, China's fortune recently announced that 99% off of the rate of investment advisory services will be implemented as of December 31, 2019.

The cashmere fund's promotion business is another scene. Despite the recent development of the "quasi birth certificate", the Castrol custom account service, which was opened in 2012, is considered to be the earliest form of investment business in the fund industry. From the system construction, investment decision to special wind control construction, initially established the fund investment advisory business "embryonic form".

In addition, the agency that has taken the "quasi birth certificate" to reporters has told reporters that the team has been prepared, or the relevant products will be launched early next year.

And the 3 third party fund sales companies that were only shortlisted in December 14th began to plan their business quickly.

Recently, Vanguard group, the world's largest investment management company, announced its cooperation with ant gold clothing and set up a joint venture in China. Next, the two sides will provide innovative and inclusive funds to invest in products and services for Chinese individual investors through a joint venture.

Another Internet giant Tencent's fund sales subsidiary tengan fund has served more than 150 million users. Liu Mingjun, chairman of tengan fund, said publicly that tengan should develop the online mode of intelligent investment in addition to the traditional offline mode of artificial investment, and reduce the threshold, so that many people who do not have enough services can enjoy the inclusive financial services, with higher efficiency, lower cost and better service for more people.

In July 2016, the surplus fund launched a "slow wait" in the past three years, and initially formed a set of effective customer service system. It abandoned the popular mode of selling the single fund in the current market on the basis of short-term returns, and did not instille the expectation to investors by short-term returns. It helped investors to make clear expectations in the "pre investment" stage. In the "throwing in" stage, it provided a strict and portfolio based asset allocation scheme to avoid catching up and killing. In the post investment stage, the perfect inquiry system and accompanying system provided investors with continuous accompanying services.

Explore the way to invest

At the same time, the new way of investment is also brewing.

According to the reporter's understanding, after a period of operation of the pilot project, the industry believes that there are less than one year, and more than three years.

The relevant methods of the investment have already been released.

In December 1997, the Interim Measures for the management of securities and futures investment were released. This is a relatively early method on investment advisers. In October 2010, the SFC issued the Interim Provisions on securities investment consultancy business. The latest relevant rules and regulations came from the notice issued by the Ministry of Securities Regulatory Commission in October 24, 2019 on the pilot work of publicly promoting the investment advisory business of securities investment funds (hereinafter referred to as the "pilot notice").

Insiders pointed out that the core content of the discussion of the new way of investing in the future includes two points: first, whether it can be entrusted to the fund; and second, whether it can be charged according to the quantity of the guarantee.

An agency official told reporters that if the company participates in the business of investment, it will charge a certain percentage of the guaranteed quantity. Once the performance is well done, it will bring good returns to investors. With the increase of the amount of money invested by investors, the absolute profits brought to them will also increase.

Then, how to implement it in the pilot stage? In the "pilot notice", it is stipulated that "the pilot organization shall fully disclose the charging items and methods to the clients, and stipulate in writing the standards and methods of collecting fees for the fund investor consultants in writing. The fund investment advisory service fee shall not exceed 5% of the annual net asset value of the client account, except for annual fees, membership fees and other charges, which are not more than 1000 yuan per year. The management fee of the investment fund of the management fund can be charged from the authorized account of the client according to the contract. "

In this regard, a broker said, in the pilot method, according to the account or according to the amount of fees can be charged, each institution choice is different.