Brokerage Department Sunshine private Equity May counterattack Fund department private Placement cautious

This year's sunshine private sector, the month of the king of changes in the flag. According to the statistics on the disclosure of full natural monthly net value, January champion is Zhongyuan Wealth Management Manulife 2 (18.67%), February is the peace of fortune-easy Advantage Two (14.6%), March for peace wealth-freshwater spring growth phase (20.36%), April is Citic Trust-fine Hee Plan (15.11%) , May is the Oriental foresight phase (10.42%).　　This is in stark contrast to last year's relatively stable ranking of sunshine private-equity products. But surprisingly, among the top ten sunshine private-equity products of the May, the Fund department (mainly the public offering fund for the research staff) accounted for only two seats, the lowest proportion since this year.　　In contrast to this is the securities brokerage department (mainly investment research personnel from the brokerage) product ratio increased.　　Fund department May Yahuo May A-share market continued to rise, the Shanghai and Shenzhen stock index record new highs, Shanghai Composite Index, Shenzhen exponentially respectively rose 6.27% and 6.37%. China Gold Securities Statistics with a full natural monthly net worth disclosure of 88 Securities Investment Private equity fund earnings statistics show that about 72% of the net product increase, the average monthly yield of 1.79%.　　Overall, private equity funds overall cautious, most of the product yield did not increase with the index significantly increased, more than 6 of the unstructured products over the same period index, the majority of products yield below 2%. These 6 products include nationals? Oriental Vision first issue (Shenzhen Oriental Foresight Investment Consulting Co., Ltd., 10.42%), Sino-Hiho 1th (Shanghai Hiho Investment Management Co., Ltd., 7.98%), Citic Trust-Jing Hee (Shanghai Jing Hee Investment Management Co., Ltd., 6.97%), Xi ' an trust?　　Long Ming Securities Investment phase (Shanghai Long Ming Investment Management Co., Ltd., 6.64%), Heng Ping Trust Yang (Chengdu Hui Yang Investment Management Co., Ltd., 6.41%), equity trust? Xin Nest Dresdner (Sichuan xin Nest Capital Management Co., Ltd., 6.4%). According to the company's public information, according to the information available, May ranked in front of a considerable part of the securities companies are issued by the private sector products. such as Shanghai Hiho 1th, deputy Robyn from Haitong Securities, Equity Trust sinks Yang Chairman Chen, general manager Zhang Jian and other from Huaxi Securities. In terms of quantity, two products occupy 33% of the index products. Surprisingly, the public offering only came from the Oriental vision of a first-time winning index.　　And the past period of outstanding performance of Freshwater springs, calmly, Wudang and other fund products of the single monthly return of less than 2%. According to a good network of statistics, if the best performance of the product rankings, last December, the beginning of the first date of the product, the securities companies from the private sector also occupy many seats. such as the new value, the United States and financing, open treasure investment, intellectual Prudential Hai Wei, stone investment under the top ten products.　　Their main investment and research staff are from the brokerage. Last year it was the opposite. 2008 with a complete natural monthly net worth Disclosure and top ten products, the fund products occupy four seats, brokerage department only twoSeats。 The general manager of a brokerage department, a private-equity firm, told reporters 1 months ago that the company wanted to win over most of its products for the securities department.　　To some extent, in the May, the collective performance of the securities brokerage department to justify the market. National Gold Securities Zhang Jianhui Analysis, May part of the early stage of higher positions in this year's phase of the market has also been high income of some private equity funds, has begun to change stocks. The split in the private-equity camp has led to monthly earnings splits.　　In the case of the market rise, the May fund system Private Camp collective Yahuo show that the fund department private equity market is relatively weak.　　On the other hand, the brokerage department products prefer to grasp the trading opportunities, and the fund system products better at structural opportunities. Private Placement "Three main characters" in the past two years, the fund department private placement effectively break through the inherent pattern of private equity, to the private sector has brought normative governance, research-oriented asset management of the new air. Last year's performance once let the market believe that public offering private placement will become the dominant force in the private market.　　But the May brokerage department private-sector counterattack shows that the market's institutions are still changing, has not reached a solid state. Zhang Jianhui that the May performance was not enough to judge the true strength of a research team.　　' From the perspective of industry development, there are three types of companies that can take a firm foothold in the market, ' he said. The first category is the fund department private Placement, especially has the large-scale fund management experience. This kind of private placement has a strong sense of risk management and more emphasis on risk control.　　Public offering the main personnel from the very standard asset management companies out of the understanding of corporate governance, the importance of research and the regulation of wind control and restrictions on the entire private sector has brought a subtle impact. The second category is represented by the new party, Chung Jin, Chongyang, and so on. They are engaged in private placement for many years, primitive accumulation is very rich. and has long been out of the small workshop-style asset management, but the establishment of a corporate governance structure.　　They have a strong foundation and a strong customer trust. It is worth mentioning that they are more daring to adhere to their own investment philosophy. The most typical example is the new party. Don't worry about the survival of an enterprise if you don't see it this year. In addition, their historical precipitation let them dare to find recognition of their own investment philosophy of customers.　　For example, Shanghai Chung Jin's products require customers to invest more than 3 million yuan to buy. The third category is the birth of nearly one or two years, although the time is not long, but experienced the test of market volatility to survive. This kind of private placement is mostly in the securities department.　　A more typical example is gold neutralization. In the last year's return, it is precisely the three types of institutions to become the leading role of the market.　　According to the good network statistics, last May to this May, the ranking of the former are also more than these three types of institutions. Private equity institutions such as Lin Yuan gradually fade out of sight.