Public Offering Hot Behind The Scenes Pushing Hands: Tail Merchants High "Full File" Marketing Banking Industry "In The" Competition

According to the data reported in the twenty-first Century economic report, in 2019, many fund companies accounted for a decline in the size of the banking channel, and the proportion of brokerages and direct sales increased. Data coincide with regulators to promote the development of diversified channels of the fund industry.

But the new round of sales is changing, and the trend is changing.

In March 11th, Yi Fang Da's high-end manufacturing and Dongfanghong Qidong held three mixed funds for a single day, and the total amount of money raised was nearly ten billion. Another set of data shows that, as of March 12th, the size of the issuance of 126 new issue funds has reached 285 billion 12 million yuan, with an average scale of 2 billion 262 million yuan for each fund.

According to our reporter's understanding, public offering fund is hot, and banks are the main channel. From the perspective of channel distribution, the proportion of bank channel reserves has increased significantly in many fund companies' channel distribution.

? ? ? ? From the sales point of view, the banking channel shows a "schedule" crowding situation.

"We need to link up with the banks in advance. For example, we all have to communicate with banks to win the desired period, but banks also need to arrange their own coordination according to their overall scheduling. The market is hot recently, and the schedule is really crowded. " In March 12th, a large public fund worker in Southern China told the business reporter in twenty-first Century.

According to the feedback from the bank financial manager, "push one day" and consult the public.

Compared with the same period last year, the issue of public offering funds is undoubtedly heading for a new climax. Song Wenhui diagram

? ? ? ? Issuing crowded heating channels

"Bull market banking channels will be very crowded, especially high-quality channels." A medium-sized public offering fund in Beijing said.

A public fund official in Shanghai told the economic news reporters in twenty-first Century, "the channel is very full recently, and they even require the company to end the offer ahead of time."

According to the twenty-first Century economic report statistics, there are 263 public offering funds planned for the first quarter of this year, while the number of new funds issued in the first quarter of last year was 215. The number of new funds increased 22.33% in the first quarter of this year.

According to monthly data, 97 new funds were issued in February and March this year. In January, the number of new funds issued was 69 during the Spring Festival holiday.

In contrast, 84 and 73 new funds were issued in January 2019 and February respectively, and only 58 new funds were issued in March.

In terms of the size of the issue, 126 new funds issued by the first quarter of this year, both the total size and the average size, have exceeded the level of issuance of the 215 funds in the first quarter of last year.

Statistics show that in the first quarter of last year, the total issuance scale of 215 new development funds was 222 billion 24 million yuan, with an average scale of 1 billion 52 million yuan for each fund. This year, there are 126 funds that have issued data. The total issuance scale is 285 billion 12 million yuan. The average issue size of each fund is 2 billion 262 million yuan, with an average growth rate of 115%.

The explosion fund is more concentrated. According to the twenty-first Century economic report reporter combing, this year as of March 12th, there are 38 new funds "sold out on a day", 29 fund start-up ratio of placing, as well as 3 fund raising the first scale of more than 10 billion.

"Now that the new development fund is not sold out one day, I am sorry to say so." Some insurance department public offering fund personages sigh with emotion.

Compared with the same period last year, the issue of public offering funds is undoubtedly heading for a new climax.

"Recently, there are many new funds in the market, and many of the funds we have issued now were set up a year ago." A public security fund of a brokerage company said, "at the end of last year, a lot of public fund performance was outstanding, many funds were snapped up, and the new funds in the channel were also more crowded."

"The persistent hot issue of fund issuance is mainly driven by market sentiment. After a year, the market goes out of a small climax, and the impact is relatively large." The aforementioned Beijing public fund people said.

"Long before the new fund was put on sale, everyone started the preparatory work in marketing, and communicated with the channel ahead of time. The new fund we recently issued is a relatively large number of companies. The pace of work is very fast recently, and the pressure is not small." The former securities dealers told the twenty-first Century economic news reporter.

In fact, according to the twenty-first Century economic news reporter, although there are epidemic factors only online communication, but this is also to promote the banking network sales opportunities. The customer manager of a bank has recently been marketing in the circle of friends and WeChat group, many of them have labeled "opportunity".

"Close" competition: China Merchants Bank or doubled

We can not deny the contribution made by the channel in this fund issuing boom, but on the other hand, the gray side of banks in fund sales is also more prominent in this context.

"The hot issue of the fund has not brought about a change in the proportion of trailing commissions, although there are some differences between different channels, but at present, the tail commissions we give to the banks are almost 80% of the management fees." Beijing, a medium-sized public fund market people told the twenty-first Century economic news reporter.

Tail commissions have always been the focus of the industry's criticism.

In the industry description, "tail Commission" is a sales incentive measure, and has always been the underlying rule of fund sales. Divided into management fees by fund companies and channels, part of the channel is tail commissions.

A large public fund channel in Southern China said, "although the fund has been sold well, the proportion of new funds that we recently issued is still up to 80%, very high."

Although the proportion of banks trailing commissions is higher, under the premise of scale, fund companies can only continue to rely on the strong channel of banks, and similar channels such as merchants bank and other sales channels are even more difficult to "row numbers".

According to our reporter statistics, this year, as of March 12, a total of 238 new funds launched, including 54 of the fund sales agents for China Merchants Bank, and the largest number of banks.

In addition, the number of consignment funds of Bank of communications, Shanghai Pudong Development Bank and Bank of China has exceeded 40, and the number of affiliate funds is 49, 46 and 41 respectively.

Compared with the same period last year, the number of China Merchants Bank's affiliate fund was 28, while the Bank of communications, Shanghai Pudong Development Bank and Bank of China were 40, 23 and 53 respectively. The number of consignment funds of Shanghai Pudong Development Bank and China Merchants Bank has nearly doubled compared with the same period last year.

According to the data disclosed by China Merchants Bank in a quarterly report in 2019, the income of China Merchants Bank agency fund was 1 billion 111 million yuan at that time. If the number of fund consignment sales up to March 12th as of 2020 is simple, it is expected that the income of the agent fund will be doubled at the same time in the first quarter of this year.

Similarly, according to the quarterly report of Pudong Development Bank in 2019, the net income of Pudong Development Bank reached 11 billion 976 million yuan in the first quarter of last year. This year, as of March 12th, the number of funds sold by the Shanghai Pudong Development Bank has increased by 100% over the first quarter of last year. The number of agency funds and commission income in the first quarter of this year may also increase.

It is worth mentioning that under the hot background of fund issuance, different banking channels also show cold and hot changes.

For example, behind the growth of the number of fund sales agencies of China Merchants Bank and Shanghai Pudong Development Bank, the number of traditional large fund banks such as Bank of China, industrial and Commercial Bank of China and Agricultural Bank has declined.

Data show that as of March 12th, the number of funds sold by the Bank of China, the industrial and Commercial Bank of China and the Agricultural Bank of China was 41, 20 and 23 respectively, but in the same period in 2019, the figures were 53, 38 and 30 respectively.

? The boom will continue.

"This market is coming too fast, and in 2019, the public offering fund really has the effect of making money, coupled with the guidance of bank sales, and since it can not be real, it will buy the fund to stir up stocks." A public fund in Beijing said.

In the remaining half month of March, there are 25 public offering funds to be issued.

Among them, Yi Fang Da Yu Fu, Peng Hua steady return, Yinhua Shanghai and Shenzhen Stock Exchange and many other products, and previously, the fund of science and innovation, which has been favored by many funds, is also being gradually pushed to the market, including the silver river AXA technology innovation hybrid fund, and several technology ETF such as 5G, 50ETF, Huafu Zhong card, AI industry ETF and so on.

However, the A share market continues to be disturbed by external factors and has been adjusted for several days. With the spread of foreign epidemics, this worry is also further affecting the market.

"A situation lower than previous market expectations is that before we felt that the domestic epidemic control basically ended, but now that the epidemic has spread abroad, the uncertainty in the market has increased." Beijing investment fund director of a public fund told the twenty-first Century economic news reporter.

It points out that worry has begun to bring marketing market volatility.

Despite the impact of multiple factors, but from the institutional point of view, many institutions still point out that A shares or become a "safe haven" in the global market fluctuations, while the low position is also a layout opportunity.

"The volatility of the market has brought a slight impact on the new development fund, but there are still some bright spots in the performance of the institution." When interviewed by a large public fund market in Southern China, it was pointed out that "in fact, it is still related to fund product category and fund manager's performance."

A public fund holder with a foreign background in Shanghai said, "in addition to maintaining stability in this market, there is a very important background that banks are guiding customers to configure equity products. On the other hand, the trend of the transfer of household wealth to securitized assets is irreversible, which will also bring incremental funding.

Frankly speaking, from the end of last year to now, there have been many explosions, and the role of banks can not be ignored.

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