Private equity funds become an important direction for residents to "move"

  Our reporter Zhou Lin

  A few days ago, the China Securities Investment Fund Industry Association released information that in 2019, the main "moving" direction of Chinese residents' funds is private equity investment funds. Specifically, as of the end of 2019, in private equity investment funds, Chinese residents contributed 899.089 billion yuan, an increase of 243.728 billion yuan from the end of 2018; in private equity and venture capital funds, residents contributed 1.15 trillion yuan, compared with the end of 2018 An increase of 63.296 billion yuan.

  For a long time, my country’s resident asset management has been characterized by “more real estate allocation and less equity asset allocation”. Reasonably guiding residents to "move" savings not only benefits the direct financing market and enhances their ability to support the real economy, but also helps enrich the "basket" of residents' wealth management.

  With the release of relevant policies, the number of banking wealth management subsidiaries in China has increased to 10 at present. The public financing products issued by them are mainly solid income and cash management, but from the perspective of development trends, they will expand equity and derivatives Such high value-added assets are expected to invest directly in the stock market. The Huatai Securities research report said that under the condition of neutral assumptions, the banking wealth management subsidiary is expected to bring 1.34 trillion yuan of incremental capital for A shares in the next 10 years.

  So why do Chinese residents buy more private equity funds? First of all, the development of private equity registration filing is becoming more and more standardized, and investors' trust is becoming stronger and stronger. According to Li Chunyu, executive vice president and secretary general of Shenzhen Private Equity Association and founder of private equity ranking network, as of the end of April 2020, 8,887 securities private equity fund managers have been registered, with a management scale of 2.62 trillion yuan; according to the development of this year Speed, the management scale in the third quarter of this year is expected to reach a record high, breaking through 2.8 trillion yuan.

  Secondly, private equity management strategies are becoming more abundant, meeting the needs of different investors. Zhu Zhenqing, general manager of the Institute of Financial Research, believes that the development environment of the domestic private equity industry's securities market is in the growth stage, and there are several major development strategies that deserve attention: First, the direction of value investment, which is characterized by large management funds and relatively stable returns. The second is to quantify private equity investment, mainly through computer models to capture opportunities that are difficult for the human eye to discover. The third is the characteristics of the all-weather asset macro allocation and FOF (fund in fund). These two require certain resources, and there must be sufficient funds to match and support.

  "These advantages attract residents' funds to accelerate their "moving" and allocate private equity investment funds, but the related risks are unavoidable." Sun Dongsheng, president of the Shenzhen Private Equity Association, said that in the past year, private equity funds have been transmitted by pseudo-private equity and P2P finance. , Industry reputation and credibility have been negatively affected. The problems left over from its extensive development need to be solved urgently. "Big waves are scouring the sand, and the sink is the gold." China's private equity fund industry is gradually returning to its roots and becoming mature. Investment institutions can only stand out from the fierce competition and contribute to the development of the industry only by returning to rationality, intensive cultivation, creating value for the enterprise, and creating income for investors. For ordinary investors, don't mistakenly think that private equity funds are equivalent to professional and high-yield. They still have to read the contract carefully and screen out investment risks.