Why did the two ants match fund end early?
Over 5.85 million people have purchased the two funds and the scale and speed of the fundraising have reached a record high
Two of the Ant Match Funds have been sold out in the two days they went online. On the evening of September 26, Penghua Innovations closed the next 18-month closed-period product offering early. Earlier, E Fund had ended the fundraising due to being sold out.
The Alipay page shows that the ant match fund has been purchased by more than 5.85 million people.
End the recruitment early
Maximize user subscription experience
Starting from September 25th, five fund companies, E Fund, China Universal, China Asset Management, Penghua, and China Europe, launched a new fund on Alipay to subscribe for Ant stocks with a total size of 60 billion yuan, a closed period of 18 months, and a minimum of 1 yuan Start purchase.
This also means that before Ant is listed, ordinary investors can invest in Ant in the form of a fund, with a zero threshold to achieve "cloud innovation".
In the early morning of September 25, the Ant Match Fund sold 10.2 billion in one hour, setting a new history for public funds.
At 3 o'clock in the afternoon, the E Fund’s Innovative Future Fund’s page showed that it had been sold out, indicating that the E Fund’s Innovative Future Fund had ended early.
On the evening of September 26, Penghua Innovations closed its product offering for the next 18 months ahead of schedule. This was a non-trading day and the second day the fund started to sell.
Compared with historical products with a closed period of more than 12 months, E Fund and Penghua raised RMB 12 billion in 18-month products in two days, setting a record high in both the scale and speed of fundraising.
The original fundraising period was from September 25th to October 9th, but this time the fundraising ended early.
According to analysis by industry insiders, fund companies and Ants do not pursue super fundraising and blindly increase the number. Obviously, they hope to use the highest possible proportion of allotment to ensure the user's subscription experience to the greatest extent.
It is reported that the five funds have set a unified raising limit of 12 billion yuan. When the cumulative effective subscription application amount exceeds 12 billion yuan, the fund manager will adopt the method of confirming the doomsday ratio to achieve effective control of the scale.
There is no subscription fee and redemption fee when subscribing to the fund, only an annualized 0.4% sales service fee, an annual 1.5% management fee, and an annual 0.2% custody fee.
The sale date is from September 25, 2020 to October 9, 2020, and the fundraising can be ended early when the fundraising limit is reached.
Facing channel disputes and recommendations to purchase cautiously
Alipay responded one by one
Recently, there have been a lot of controversies about banks and Ant agency sales channels in the market.
Alipay people believe that the two services are not the same in terms of customer groups and service methods, but they are actually complementary.
Alipay trains and serves long-tail wealth management users by lowering the threshold, and through various forms of investment and education, so that the public can develop good financial management habits. This can be confirmed by the number of purchasers exceeding 5 million.
Data shows that the average number of days that Alipay users hold funds has exceeded 300 days.
This time, many investors also "tagged" on social media, and Alipay popped up prompting him to exceed his risk tolerance, and he recommended buying with caution.
According to news, over 340,000 people were persuaded this time.
In fact, strong reminders similar to risk assessment can help users make investments more sensibly, and will not make misjudgments when they become hotheaded.
When the wealth management market was booming in February this year, Alipay also persuaded 4 million investments that did not match the risk tolerance.
Many top sovereign funds at home and abroad
Want to participate in the ant strategic placement
Yesterday, a person familiar with the matter said that many of the world’s top sovereign wealth funds plan to participate in Ant’s A-share IPO, including Abu Dhabi Investment Authority, Singapore Government Investment Corporation, Canadian Pension Fund Investment Corporation and other top global sovereign funds. Hope to participate in the strategic placement of A shares.
Earlier, there was news that the China Social Security Fund would become Ant’s cornerstone investor in the Science and Technology Innovation Board.
It is reported that the Abu Dhabi Investment Authority is currently the third largest sovereign fund in the world, with an asset size of approximately US$580 billion. It is known for its prudent and long-term return investment style and prefers targets with reasonable valuations and growth potential; Singapore government investment The company is the sixth largest sovereign fund, with assets under management of approximately US$453 billion.
It was previously reported that the China Social Security Fund will become Ant’s cornerstone investor in the Sci-tech Innovation Board; Singapore’s Temasek and Saudi Arabia’s sovereign fund-Public Investment Fund are also planning to participate in investment.
Currently, Singapore's Temasek, Saudi Arabia's Public Investment Fund and China's Social Security Fund are the seventh, eighth and ninth sovereign funds in the world, respectively.
Jia Kang, chief economist of China New Supply Research Institute, said that listed projects that have raised more than 10 billion on the Science and Technology Innovation Board have a relatively high proportion of strategic placements. For example, the Beijing-Shanghai high-speed rail strategic placement accounted for 48.9%, and China General Nuclear Power accounted for 50%. %.
Another industry insider predicts that based on the design of Ant A+H and the sci-tech innovation board's strategic placement arrangements, the proportion of strategic placements will not be less than 50%, and this proportion will be further increased based on market feedback.
The industry believes that the investment style of the national sovereign wealth fund is prudent and away from high-risk assets, so it is called "stable investors."
With the listing of Ant on the Science and Technology Innovation Board, the entry of funds from the world's top sovereign funds is bound to further increase the liquidity of A shares, which is conducive to the long-term stability of the market.
How to buy the Ant Strategic Placing Fund?
This strategic allotment of Ant’s new fund will be exclusively sold on Alipay.
Open the Alipay App, and display the banner "Blockbuster First Participating in Ant Listing" in a prominent position on the "Funds" page, and click to enter the subscription page.
Or search for "Heavy New Issue" on Alipay or enter the homepage of wealth management to see it.
After entering, the page only displays the name of a fund, such as "China Europe Innovation Closed and Mixed in the Next 18 Months".
Click "Subscribe now" and fill in the purchase amount. There is no need to pay for the subscription, and it will display: "The application is successful, and the actual purchase amount will be confirmed after the fundraising ends."
Q&A
How is it different from a general fund?
First, in the ant strategic placement fund, the highest proportion of investment in the ant group is 10%.
10% is the maximum allocation limit for a single stock fund investment required by the China Securities Regulatory Commission.
This time, the five funds are all planned to match up to 10%.
The remaining 90% will also be managed by star fund managers. Each operation is different, such as selecting high-quality companies that are driven by innovation in the process of economic structural transformation and industrial upgrading to achieve sustainable development.
Second, unlike the T+1 trading rules of most open funds, the Ant Strategic Placing Fund has an 18-month closed period.
The first 18 months after the fund contract takes effect is a closed operation period. During the closed operation period, the fund does not handle redemption business, and the fund is not listed for trading.
It is reported that on the one hand, the closed period prevents investors from falling into short-term games; on the other hand, it is also more conducive to fund managers to obtain better returns.
At present, the mainstream of the funds participating in the battle match in the market is closed for 2 years and 3 years. These 5 funds have been closed for 18 months, relatively taking into account the investor experience and the investment performance management of fund companies.
However, fund unit holders face the risks of being unable to redeem fund units and unable to withdraw from the fund during the closed operation period. Investors need to pay attention to making capital arrangements to ensure that the investment period matches the fund operation period.
Third, after the closure period expires, the five strategic allotment funds will be transformed into innovative future hybrid funds, that is, ordinary open-end hybrid funds.
When calculating the net value, the net value of the fund is updated once a week during the closed operation period.
After the end of the 18-month closed period, it is converted to an open-end fund, and the net value of the fund is updated on a daily basis.
This group of articles / our reporter Wen Jing