Game Double Sinks Compensation Programme Fund outlines mine clearance roadmap

Double sinks the development of a duplicate board announcement, let many fund managers long suspended heart finally put down. is not known, in the double sinks one months of suspension period, double sinks fund managers "merry-go" type to the company to communicate, make every effort, and strive to double sinks as soon as possible.　　In order to reduce losses as much as possible, with the double Exchange Management and large shareholder game to compensate the circulation of shareholders, but also let fund managers hurt their brains. A collective push to suspend the double sinks is like a time bomb, although the relevant funds have lowered the valuation of the double sinks, but there is always uncertainty, may continue to trigger the redemption of the holders.　　To eliminate the risk, the fund is eager to resume trading as soon as possible. "We have already indicated to the exchange that we should make the double Exchange card as soon as possible." "said one fund executive. China Securities News reporter learned that some of the double sinks of funds have expressed the same strong will. Fund managers believe that, since the relevant investigation team has completed the investigation, the law enforcement departments of the double sinks products also carried out a comprehensive survey and sampling, even the source of lean meat has been traced to people.　　The facts are clear and there is no need for the two sinks to suspend their licences for a long time. After the suspension, we went to the double sinks company more than once. "One fund manager said they contacted the company the first time after the lean meat incident broke out." But at first, the two sinks focused on the investigation, and the fund manager was left on the sidelines. They were later received and informed of some progress. Fund managers took the opportunity to express their views, "we suggest that double sinks in the face of consumers and media, the attitude must be sincere, comprehensive and clean to deal with the problem, can not leave hidden dangers."　　The fund manager said. For heavy warehouse double sinks fund, long time suspension is unbearable heavy. The suspension of the double sinks is like a time bomb, although the relevant funds have generally lowered the valuation of double sinks, but due to different market expectations, there is always uncertainty, may continue to trigger the redemption of the holder. It is also difficult for the fund companies to drastically reduce the valuation of the double sinks again, because if the reduction is much, if the double sinks do not fall so much, it will create new problems.　　To eliminate the risk, the fund is eager to resume trading as soon as possible. At the end of March, when the dealer conference, many fund managers again rushed to the scene, hoping to judge the impact of lean meat essence incident. The general manager of a fund company admitted that the investment in the fund did step on the mines.　　As far as the fund industry is concerned, it is important to assess the extent of the incident and to minimise the loss of its shareholders as much as possible. In this respect, the views of the relevant fund companies are slightly different.　　Some fund managers believe that Jiyuan double sinks may be discontinued indefinitely, coupled with changes in consumer psychology, the development of double sinks at the operating level will be significantly impacted. However, there is also the view that the Jiyuan double sinks by the double sinks group 100% shareholding, is to inject double sinks development of pig slaughter the smallest assets, it seems to have little impact on the development of double sinks. The fund manager estimates that the loss of the listed company's profits is generally in tolerable range,And the main loss should be at the double sinks group level. According to the latest data provided by the double Exchange group, the "lean meat essence" incident affected the sales revenue of 1.5 billion yuan by the end of March and the loss of $30 million for Jiyuan treatment of meat products and fresh frozen meat.　　By the end of March, the company's overall slaughter had recovered 80% to 90%, and meat products recovered from 30% to 40%. At the same time, the double sinks group announced the production and operation of the phased recovery plan, double sinks on the dealer commitment to all products to accept returns, in favor of products back to the shelves, stable dealers. The company plans to slaughter at the end of April to reach more than 1500 tons/day, the meat industry at the end of April reached 5000 tons/day, the production capacity is basically restored to the expected target.　　Therefore, some researchers also believe that the development of double sinks is still possible to achieve its restructuring programme in 2011 per share of the performance commitment level of 3 yuan. Game compensation program has been discussed in the Fund, in the annual report allocation, the double sinks should be to the small and medium shareholders of the rich and favorable options.　　In addition, the value of the proposed injection of the assets of the group is now clearly depreciated, and the value of the valuation should be adjusted downward to safeguard the interests of the circulating shareholders.　　For the double sinks Fund, the urgent matter is how to reduce the losses. Societe Generale Global deputy general manager Du Changyong said, "We can not do nothing, as a fund, we will not only vote with the foot, but also by hand to vote, as far as possible to reduce the loss of some adverse factors in the good direction of the transformation." "Some fund managers believe that, since the clenbuterol incident on the dual-link development of the two-tier market share price shocks, it needs to consider the two-tier market investors to make some compensation, in various forms to return investors." It is understood that the fund has been discussed in the annual report allocation, the double sinks should be a rich and beneficial to the small and medium shareholders of the scheme.　　In addition, the value of the proposed injection of the assets of the group is now clearly depreciated, and the value of the valuation should be adjusted downward to safeguard the interests of the shareholders in circulation, which depends on the negotiations between the two sides. "This communication is not going very well," said a fund manager. "In fact, from the history of double sinks, the management has been working very well on the market, but it has not been very harmonious in dealing with investor relations," he said. This reminds many funds to unite to protect the interests of small and medium shareholders. In fact, this force can not be belittled, rough statistics show that by the end of last year, more than 100 funds held a total of 216 million shares, the proportion of the double summary share capital of up to 35.6%.　　Such a high percentage of ownership provides the fund with a variety of means to participate in corporate governance. For example, you can use the provisional proposal. Under the company law, a shareholder who is alone or in total holding more than 3% of the company's shares may present an interim proposal at a meeting of the shareholders ' meeting. In this way, even if the relevant requirements are not adopted, the fund company can also put forward to protect the interests of small and medium shareholders proposal.　　In addition, shareholders who hold more than 10% per cent of their shares alone or in total may request an interim shareholder meeting. However, if the real deduction to this extent, the Fund as a representative of the circulation of shareholders is tantamount to the company ripped the skin. At this stage, the fund publicThe Secretary hopes to be able to communicate with the listed companies in a harmonious atmosphere. In addition to the game compensation scheme, for the fund that holds the double sinks, it is also a way to "vote with the foot" after the duplicate card is sold. There is no need to go to this muddy water, and the follow-up will not know how to develop. But Yang Dong, general manager of Societe Generale Global Fund, is very clear, also represents a part of the Fund's attitude, "some people care about the double exchange after the card whether we want to significantly reduce or even complete exit, our investment research team seriously discussed, from the current we understand and analysis of the situation, the impact of things far less than everyone imagined so big." We have long held double sinks for a long time, and the reasons and confidence we hold are unchanged, so we are still bullish on the future of our double sinks. "Reporters also learned that there are institutions to see this incident as a rare opportunity to prepare timing to buy the development of double sinks." "Yili was down in the background of the financial crisis, but then quickly hit a record high?" One fund manager said that if the double sinks were properly handled, the lean-meat incident would not be an opportunity to accelerate the industry's integration. Aquaculture slaughter industry concentration is low, according to related plans, the future two, currently more than 22,000 slaughterhouses will be cut off half. The event is expected to further accelerate industry concentration, which is beneficial to improve food safety.　　With the industry threshold, the advantages of leading enterprises will gradually show up, market share and profit margin is expected to improve. The late-clearance fund whether to invest in double sinks and whether the fund company is talking about social responsibility is not the same thing.　　The restraint of corporate social responsibility requires the joint efforts of all sectors of society, and the role of fund managers is still limited. Shuang Hui lean meat Essence incident to the fund industry collective reflection, highly concerned about the food and other industries investment risk, and began to act, trying to build or improve the relevant system to prevent the recurrence of similar Black Swan event. Some fund companies have asked researchers, "quickly to the food and beverage industry in all of the outsourcing of raw materials companies to comb out, further in-depth investigation, the existence of the risk." "This trend has even spread to the food and beverage industry, such as medicine, chemical and other related to people's lives and safety of the industry, have their corresponding security risks." A fund company said, "In the future will be mandatory for the research and comparative analysis of corporate social responsibility, according to the characteristics of different industries to strengthen the different aspects of social responsibility, and set some quantitative indicators to screen investment targets."　　"There are also some funds in the double sinks after the incident, considering that such a negative impact will be covered by other food stocks, the increase in the food and beverage industry to reduce the intensity." But there is also a fund investment director pointed out that in the deepening social division of labor today, almost no large food and beverage enterprises can fully self-sufficient, after all the food enterprises to the upstream aquaculture development?　　It is unworthy to sell other food stocks just because of the food safety problems in the double sinks. In other words, investment always faces all kinds of windRisk, a fund executive said that while heavy stocks stepped on landmines, he would not be critical of fund managers and researchers, who did not have the ability to discover all the irregularities in their businesses, and the investment itself was made up of countless successes and failures. However, the double sinks incident highlights the need for socially responsible investment across the fund industry. Although because of the high supervision cost, introduce the social responsibility factor in the investment, I am afraid cannot evade the listed company's violation risk completely, this needs the corresponding industry upstream and downstream each government department to jointly put the good quality close. At the same time, whether the fund invests in the double sinks and whether the fund company speaks social responsibility is a different thing. The restraint of corporate social responsibility requires the joint efforts of all sectors of society, and the role of fund managers is still limited. Responsible Editor: NF052