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正规金沙网址:Regulatory Tightening Decreases in Monetary Fund Zero Issue Since Q4

时间:2017/12/18 12:41:44  作者:  来源:  浏览:0  评论:0
内容摘要: By the end of yearMonetary FundBreakthrough rate of 4% and short-term wealth management funds exceeded 4.2%. Meanwhile, as the "sharp ...

By the end of year Monetary Fund Breakthrough rate of 4% and short-term wealth management funds exceeded 4.2%. Meanwhile, as the "sharp weapon" of the year-end rush, the Monetary Fund disappeared in the circulation market since the fourth quarter. The industry believes that regulatory toughening and market demand have led to the loss of new monetary funds lost their competitiveness, and caused the end of the year currency fund issue deserted phenomenon. Since the fourth quarter goods

base zero issue

data show that as of December 15, since the fourth quarter is not newly established Monetary Fund. The recently established Monetary Fund is the Xingyin Bimonthly Money Management System established on September 28 this year, which is a short-term money management fund. The purely -based money fund needs to be traced back to the long-established Quotac Gold Currency Fund and Taikang Cash Steward Monetary Fund.

The is currently being released Kim is not seen in the Monetary Fund. However, the SFC publicity fund approval application information shows that the IMF's acceptance and review has not stopped. At present, there are altogether 12 Monetary Fund, including Huaxia, Yi Fang Da, Bo Shi, Guang Fa, etc., all of which have been accepted. Among them, 11 have also entered the review stage. However, from the approved situation, the most recent approval is the Boshi Hefeng Money Market Fund on August 25 this year.

Monetary fund issuance is generally the highlight of the issuance of new funds at the end of the year and is also a key factor affecting the rankings of public offerings. Data show that in the past five years, in the fourth quarter, the issuance size of Monetary Fund in the total size of the new fund issued an average of 32.2%, accounting for the highest proportion in 2012, reaching 56.77%, accounting for 16.23% of the lowest in 2015, like this year The end of such a zero issue of the IMF is very rare.

For the phenomenon of desertification of the issuance of monetary funds at the year-end, the relevant person in charge of the Hongde Foundation said that the fund will eventually return to its origin. Some companies with better existing customers can meet the requirements of the new liquidity regulations. After obtaining the approval of the monetary fund Will still be issued; and small and medium-sized companies rely on shareholder support due to the weak control of institutional clients, even if approved, the possibility of distribution will not be too large.

regulatory tightening

Monetary Fund IMF release the brakes

increasingly stringent regulation of its year-end issue of "brake" an important reason.

The head of Wangde said the Monetary Fund has experienced a rapid increase in recent two years and attracted many institutional and individual investors. With the expansion of the size of the IMF, the potential liquidity risk also rises. In this context, this year, the SFC formally released a new liquidity regulation of open-end funds, placing higher demands on both newly-issued and stock-based monetary funds.

Recently, China Fund Industry Association held a fund evaluation business symposium also pointed out that the core of monetary fund management is liquidity control, requiring fund managers have a matching level of risk management and risk prevention capabilities.

A large public fundraising market unit in southern China said regulators began to dilute the role of Monetary Fund in size rankings and that the new liquidity rules also linked the size of Monetary Fund to risk reserves and restricted the random issuance of Monetary Fund, At the end of the year, the phenomenon of rushing to scale with the monetary fund will come to an end. Under the tightening regulatory conditions, the issuance of incremental monetary funds is not as sustainable as the continuous marketing of the stock monetary fund.

According to the director of Hongde Fund, the new liquidity regulation has set new requirements on the proportion of the institutions. For the investment of the IMF, the shorter the duration, the lower the yield. Although the shorter duration can bring higher liquidity and more Low risk, but ordinary investors generally difficult to feel. Under such circumstances, the new Monetary Fund simply does not compete with the investment income of similar products, and there is not much motivation for individual customers to buy new Monetary Fund. Banks Since there is no incentive for sales channels, sales motivation is also compared weak.

The official said: "Many large companies have better individual customer base and a certain institutional customer base, which are relatively less affected by the new regulations.Many small companies rely on shareholder support when they first issued monetary funds, The new liquidity regulations require the top ten institutional clients to account for more than 20% of the investment duration must be reduced to 90 days; more than 50%, it is necessary to drop to 60 days, the main purpose is to prevent large redemption liquidity risk , And limit the new institutions to customize the fund, which also made the Monetary Fund investment has been limited. "

The official said that due to the different customer structure, the future mode of operation of the IMF's investment will also be split, one is the early customer base Monetary funds that are better and of a stable size can invest in longer-term, higher-yielding financial instruments while investing. Other smaller or new-generation monetary funds consider more short-term investments and lower risks Of the investment varieties, the proceeds are affected, but the risk is lower and the liquidity is higher , Is also a good choice for investors.

blue chip Monetary Fund

phone can open an account to buy the fund, click here Download 7_89456_14 3_65473_9 Resources Yuan in cash through monetary B
Fund Code Fund referred to 7 _ 89456 _ 66 _ 65473 _ 97 _ 89456 _ 67 _ 65473 _ 97 days annual fee operation
002195 Bank agency cash management Currency 5.74% 0.00% 0.00% buy Open an Account
003994 Wah Fu Currency B5.3 2% 0.00 % 0.00% purchase account purchase
001478 Taikang salary is intended to protect the currency B5.22% 0.00% 0.00% purchase account purchase
410002 Fu currency A5.09% 0.00% 0.00% Buy Open an Account Buy
0028845.09% 0.00% 0.00% purchase account purchase
Source: Oriental Fortune Choice data , Galaxy Securities, as of the date: 2017-12-15

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