700 Billion Large Collection Of Products, Public Collection And Upgrading Of Public Products Is Coming: Many Agencies To Accelerate The Transformation Of Products To Promote The Head Of Securities Companies Frequent Bursts Of Money

"We are pushing forward step by step in line with regulatory requirements." In June 10th, a broker dealer in Southern China told the business reporter in twenty-first Century.

As a matter of fact, with the "big deadline" coming from the public collection and transformation of securities companies, the large collection of public brokerages of many brokerages is speeding up.

Since August 2019, the securities and Futures Commission has issued a contract change letter to CITIC Securities, Guotai Junan Securities and Orient Securities to agree to a collective asset management plan.

At present, many brokerages such as CICC, GF Securities, Pacific Securities and Xingye securities have launched public collection and transformation products, and the public collection transformation has entered the fast lane.

Just this month, CICC launched its Jin Hengrui bond collective asset management plan for its third large collection products completed by its public collection and transformation. Data show that the product is changed from the CIC enhanced bond income collective asset management plan, and is a large collection product operated in accordance with the provisions of the public fund.

With the "big deadline" coming from the public collection and transformation of securities companies, the large collection of public brokerages of many brokerages is speeding up. Map Vision China

Speed up "transformation"

As early as the end of 2018, the SFC issued the guidelines on the application of the guidelines for regulating asset management business of financial institutions. The guidelines and procedures for further marking the public offering fund and realizing the standard development were refined and clear, and a reasonable standard transition period was given. After being standardized, the large collection product will be converted into public offering fund or private asset management plan, and will continue to operate in accordance with relevant laws and regulations.

According to the regulatory requirements, the large collection asset management business should focus on product sales, share trading, compliance management, qualification and behavior requirements of relevant personnel and other aspects before December 31, 2020.

Data from that time showed that the total size of the large collection of brokers that was about to start the public collection and transformation was about 700 billion.

From this year's actions of various agencies, the speed of large collection public collection and transformation has improved significantly. Especially the head mechanism has completed more than one product transformation.

For example, CICC has completed the transformation of the Sino Gold joint venture asset management plan before the Sino Jin Heng bond type collective asset management plan. The two products were launched in April and May respectively.

The latest progress of CICC shows that 6 of the 7 large collections of CICC have been approved by the securities regulatory bureaus in their respective jurisdictions, 4 have been approved by the China Securities Regulatory Commission, and 3 have completed the transformation.

Last year, CITIC Securities, the first batch of approved approvals, has moved more rapidly this year.

Twenty-first Century economic report reporter learned that CITIC Securities CITIC Securities arbitrage 1, CITIC Securities excellent growth of two large collections of products have recently won the SFC public recruitment transformation approval, respectively, since May 13th and May 15th start contract changes consultation.

Earlier, CITIC Securities's six month rolling holding bond type collective asset management plan, CITIC Securities dividend value held one year, and the mixed asset management plan was completed in September and November last year. In March of this year, CITIC Securities also issued third public collection and transformation products, CITIC Securities, to select the value growth hybrid hybrid asset management plan.

In the same year, Guotai Junan Securities, which was the first batch of approved approvals last year, also launched its fourth public collection and transformation product Guotai Junan Juncheng mixed asset management plan in May this year.

"The regulatory authorities first approved the public collection and transformation of three institutions, CITIC Securities, Guotai Junan and Dong Fang. In fact, they also selected three head offices to make a demonstration and give the industry a sample." Information manager of a large brokerage firm in Beijing said.

According to regulations, the end of this year will be the deadline for securities companies to assemble products. In fact, such as CITIC Securities and other institutions, all the large collection of products over 10, the pressure of transformation is still not small.

"Many products are queuing up to promote the rectification process. The pace of this year will be very fast and the workload will be great." The aforementioned agency said.

However, there are still some risks such as the initial value of the underlying assets and the risk of investor communication, which also make the rectification period particularly intense.

"In fact, there is no news that it must be completed by the end of this year." In June 10th, the head of a securities and information management department told the business reporter in twenty-first Century.

Explosive products attract eyeballs

Under the background of the rapid expansion of the public offering fund, the large collection and collection of public offerings has also made a fire for the market.

From the current situation, a large collection of public collection and transformation products of many institutions have achieved good results and even become explosive funds.

In September last year, Guotai Junan Securities under the Junde Ming hybrid management plan completed the public collection and transformation. Data show that the fund raised the first day scale of 12 billion 200 million yuan; in November last year, the eastern red Kai Yuan and CITIC dividend value of two public collection and upgrading products, the first day of raising the scale is also more than 4 billion; and the issuance of CITIC Securities in March this year, the value of growth mixed hybrid asset management plan, on the first day of sale, the scale of the product has nearly 3 billion yuan.

"Since the beginning of this year, the issue of public offering funds has been very hot. On the one hand, it is the guidance of the effect of making money. On the other hand, the products of these brokerages can become" exploding money ", and they are also inseparable from the performance of products and the strength of channels. A brokerage department of the public fund people said.

In fact, according to the twenty-first Century economic report reporter, many of the dealers' public collection and transformation products have achieved good sales results in their own channels.

"Generally the first day comes from our own channels, because the publicity is also longer, with the gradual improvement of public collection and transformation, we are also increasing sales channels for subsequent products, including some banks with high sales ability." The broker said.

"If a broker has customers, he will have sales strength." The aforementioned public fund people pointed out that, "in fact, many funds this year from the brokerage channel sales are not small, the sales strength of brokers can not be underestimated."

For many of the securities companies entering the public offering market, in addition to channel advantages, performance is of course also an important factor in market concern.

"Securities brokerage and management reform will gradually fall to the ground, reducing the threshold of product investment and improving the breadth of publicity, which is conducive to the rapid growth of product scale. The large collection of products is included in the public offering supervision system, which is good for the long term healthy development of the information management industry, but at the same time, it needs to face more than 100 public funds' fierce competition, which will further test the initiative management ability of the securities companies. Li Xing, a non banking analyst at Guangdong Securities Co., Ltd.

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