Jianghui era is drifting away private equity champion Shi Bo

The rise of trading-type private-equity players--April 2009 Sunshine Private Performance list comments in Shanghai and Shenzhen stock market unilateral rally, still have a lot of investors look at the empty market, resulting in private equity investment performance differentiation.　　From the latest release of the first financial China Sunshine Private List (2009 3 ~ April) list can be found, with the Sun private performance rankings reshuffle, the new top of the wreath fell to the Chanyat investment Shi Bo body. The old saying is good, some people Shing drive Secco, someone resign to hometown. June ' An securities President Yang Jun will own three of private-equity products transferred to others, retreat to overseas markets, China's sunshine private also ushered in the most rapid development period. Investment companies in the recent issuance of sunshine private products, raise funds to show a jump in growth. From the point of view of its distribution, the market for outstanding performance of private equity funds show a higher investment enthusiasm.　　April has 28 private placement into the promotion period, of which, Jianghui the helm of the Star Stone series has been issued to the 14th issue, Wudang issue to 10, as well as Rosefinch, Kingzhong, calmly and other private products are also in the recruitment. If the 2008-year unilateral decline, shaping the Jianghui as a private-equity boss of the lake status, then, the 2009 unilateral rally, it created the Shi Bo of the new private-equity bull's glorious image.　　In a short period of six months, Shi Bo led the Chanyat Investment Co., Ltd. managed 4 products, the net worth of nearly double the performance returns, which also overturned the end of 2007 for private equity operating style of the pros and cons of the evaluation criteria. Monthly list: Private placement in the monthly list of the statistics of this time, the Shanghai Composite Index all the way from 2,281 points up to 2,558 points, the increase of 12.14%, during the period of only a 92-point in the Yin line, basically maintained a unilateral upward trend. In this kind of market, the fund that invests in portfolio is difficult to win the trend.　　The same is true.　　According to the list of 165 private equity products, the average return is 3.88% lower than the Shanghai Composite index, that is to say, only 8.26% of the monthly absolute return. In the ranking list, there are two types of products that are clearly in the forefront. In addition to firmly sit on the performance of the top four Chanyat products, some of the trading of private equity managers have achieved good results, such as the Chang Jin 2 and the Hubei International trade Sheng,　　Its net worth to reach 1.29 yuan and 1.43 yuan high; the other is the market forever dead bulls, convinced that the position does not relax, full Cang Wu Gu, the most obvious is the last year almost the bottom of the Xin Peng Fund, this unprecedented squeeze into the top 10 monthly (see table 1). and the monthly list at the end of some of the sunshine private products are running more than 10% of the market. In other words, there is no profit in this month's unilateral market, the only explanation is that they may be looking at the empty market, the position is very light.　　such as last year, a good operation of the new same-side series, Huaxia series, Basic or short thinking, the net ranking is not very good. In addition to the index funds in the same period, the initiative-Type Equity fund is the best in the closed-end fund of the day, nearly one months returnRate of 16.21%, basic and private placement of the elegant series into a tie. In the same period, the average return of the stock-raising fund is 10.85%, which is better than the average return of private placement 8.26%.　　This short-term public offering fund has been a rarity in the past year or so. Quarterly list: Trading players won in the past 3 months, the market trend and April basically the same, the market is also the way up, the Shanghai Composite Index rose from 1994 to 2,558 points, up to 28.28%, but there is also a large return, the range of up to 10%.　　That is to say, to achieve extraordinary performance in these 3 months, the biggest means of operation is to escape the robbery, that is, the bottom full warehouse, head thrown, back to file buy, shareholding to date. Indeed, there are some private placements that have reached this level. From the March list, the average return on the 4 products managed by the former star public offering fund manager Shi Bo at the helm of Chanyat is 72.1%, the best product is still 3-period return to 83.92%, while the market only rose 28%, in addition to the position must be very heavy, a stock must be very cattle, or need to operate the wave band operating skills　　(see table 2). This example is not a few on the list.　　such as Li Zhenning control of the Rui Letter series, trade Sheng, such as a group of market feeling good traders, in this round of the calf city, also achieved more than 40% of the performance. Similarly, in the last 3 months of the 154 products, the overall performance of the average growth rate is only 20%, lost in the market 28% of the gains.　　And some of the robust private equity fund due to too much attention to position control, but the loss of good bureau. In this year's unilateral market, public offering funds pay attention to balance, value investment, position control of some investment criteria, by the selection of stocks, full warehouse access, chasing up and down the new private investment rules of the major challenges.　　such as ranked in the forefront of three months of private placement, in addition to YA series Herisi series, fresh water Spring Series, long Saint series, easy to handle the series of the hands of most of these traders belong to this type of player. From the last 3 months, the public offering funds, the active stock fund average return of 23.64%, slightly lost in the market 28.28% of the increase, but stronger than the average 20% of private equity returns. However, private placement of the best products still 3 in a short period of 3 months to achieve a 83.92% return, public offering fund when the core of the preferred mail, nearly 3 monthly return also reached 39.71% good performance.　　The difference between the two should come from the amount of capital, after all, private tens of millions of funds to be far more than the public to raise billions of yuan in access to capital. Annual list: Private equity basic salvage losses with the development of sunshine private equity, China's Sunshine private equity rankings have collected 116 of private-equity products that run for over a year, with 52 products making positive returns. Relative to the market-18% of the loss margin, 86 products run to win the market, accounting for 74%.　　The average return on 116 private-equity products is 3%, surpassing the market's 15% (see table 3). Ranked in the past yearThe first four-digit Chanyat is still a series of products. In other words, the Accor series has also achieved 3 titles in the past one months, the past three months and the past 12 months, which is unique in the history of the list.　　and has been in the forefront of the private placement of the Lu Jun control of the calmly series, Jianghui management of the Star Stone series, Tian Ronghua-dominated Wudang series, Li Hualen led Rosefinch series, Xu Dacheng, Bo Yi Series and so on, but also because of the bear market less losses, the bull market to earn more performance accumulation, ranked by the front.　　And in the list on the back of the position of private-equity products and the front of the private equity in the opposite, basically belong to bear market full position, bull market mostly light warehouse products, the loss of more than 20%. In the past year's public offering fund return, the active stock fund's average return is 9.8%, compared with the market-18% decline, should calculate has achieved the good result.　　The best performance of the public offering products is "public offering a brother" Wang Yawei the Chinese market Fund, annual return of 21.4%, and "Private one brother" Shi Bo led by the Chanyat 4 period return of 44.5%, the two former Huaxia fund old colleagues, it seems in the future investment market will have a fight. Operational style and profitability outlook this year's market trend has led to a dramatic change in the industry's view of the operating style of private equity.　　Among them, from the public offering fund managers in the private equity division, the rise of the performance level of trading players and market-oriented private equity managers again popular, perhaps this list to the sunshine Private market pattern of the biggest changes. From the present situation, the fund size under 500 million yuan of private equity funds to take the transaction, rather than the value of investment, may be a relatively safe, and rewarding the operation of a considerable way. Select a stock, trend investment, heavy warehouse operation, may be the most desirable way of operation in the next period of time, let us wait and see, together look forward to the next month, the list of the ranking changes.