Our reporter Wang Ning
The bottom of the A-share market is approaching, which has become the consensus of institutional investors and is proved by practical actions.
According to the latest statistics from Wind data and private placement Pai Pai.com, a reporter from Securities Daily shows that as of now, the total amount of public offerings and private placements during the year has reached nearly 5 billion yuan.
Among them, more than 70 public offerings purchased 2.207 billion yuan, and 19 private placements purchased 2.765 billion yuan. In comparison, the total amount of self-purchasing by private equity institutions was slightly higher than that of public offering institutions.
A number of industry insiders told reporters that the active self-purchasing actions of public and private equity institutions during the year conveyed confidence to investors in two aspects: one is the recognition of the current bottom of the A-share market, and the other is confidence in their own investment capabilities.
6 public offerings and self-purchases all exceeded 100 million yuan
The A-share index has been in a volatile situation throughout the year, while institutional investors have shown high confidence.
Based on the expectation of the long-term healthy and stable development of China's capital market, more than 70 public offerings have purchased their own fund products during the year.
According to Wind data, a reporter from Securities Daily showed that more than 70 public offerings totaled 2.207 billion yuan in self-purchased funds during the year.
Among them, there are 6 public offerings with self-purchase funds of more than 100 million yuan; 7 public offerings and self-purchasing amounts between 50 million and 100 million yuan; 51 self-purchasing amounts between 10 million and 50 million yuan; 8 The self-purchased amount is less than 10 million yuan.
Specifically, Southern Asset Management ranked first with a self-purchased amount of 230 million yuan, followed by Industrial Securities Global Fund, Changjiang Securities (Shanghai) Asset Management and Cathay Fund, with a self-purchased amount of more than 100 million yuan; in addition, Harvest Fund, E Fund , Dacheng Fund, China Europe Fund, China Asset Management and Yinhua Fund, etc., have also implemented self-purchase actions to varying degrees.
According to the announcements of several fund products, the reporter found that most of the self-purchasing actions carried out by public offerings are based on confidence in the future of the market. For example, Southern Asset Management announced that based on its confidence in the long-term, healthy and stable development of China's capital market, it will use its own funds to subscribe for its own funds. The stock-oriented public fund Nanfang Haoyi Progressive Jushen has a 3-month holding period (FOF) of 20 million yuan.
At the same time, in the near future, it will continue to subscribe for the company's partial stock public offering funds, with a total investment of no less than 100 million yuan.
TEDA Manulife Fund believes that the market is still in a wide range of fluctuations. The previous lows of the Shanghai Composite Index have reflected pessimistic expectations on fundamentals and overseas risks. Short-term market volatility may be caused by short-term players’ gaming behavior. Investors do not need to be overly pessimistic ; Under optimistic expectations, with the normalization of resumption of work and production after mid-June, it is expected to push up the risk appetite of A shares, and the fundamental reversal in the third quarter is expected to become a solid driving force for A shares to bottom and rebound.
Ten-billion-dollar private equity becomes the main force in self-purchasing
Self-purchase actions not only occur in public offerings, but private placements are not far behind, and the overall amount of funds is not lower than the level of public offerings.
According to the latest statistics from the Private Equity Pai Pai Network, as of now, 19 private equity firms have announced self-purchase actions since the beginning of this year, with a self-purchase amount of 2.765 billion yuan.
Among them, there are 15 private equity companies with a level of 10 billion yuan, with a total self-purchasing amount of 2.638 billion yuan, accounting for 95.4%, becoming the main force in the self-purchasing camp.
Li Chunyu, founder of the private equity platform Pai Pai, told the "Securities Daily" reporter that self-purchasing often occurs when the market is falling and investors' confidence is obviously insufficient. At this time, it is the best investment opportunity.
On the one hand, it is necessary to build confidence in investors to avoid irrational redemptions and interfere with the normal operation of the fund; on the other hand, from the perspective of market experience, the market will be at the bottom in this case.
"Private fund managers can share risks and benefits through self-purchase, further enhance investors' confidence in holdings, avoid excessive losses caused by customers' redemption at the bottom of the market, and help improve investors' holding experience." Li Chunyu said.
Long Fang, chairman of Juzhen Capital, told the "Securities Daily" reporter that while most private equity institutions took self-purchase actions, they also indicated that they would choose to add more in the future, which also shows that private equity managers generally believe that the market has entered an irrational decline. The allocation value of A-shares is gradually emerging; the long-term self-purchase and holding period indicates the long-term value investment concept advocated by private equity managers, and they are optimistic about the long-term and stable development of China's capital market.
(Securities Daily)