1.

Ant suspends listing, 60 billion fund will not be refunded!

Top style crime!

After the 2.1 trillion market value of Ant Financial was hit by the pause button, should the 60 billion funds of ordinary investors be returned? ? ?

On November 5, the China Securities Regulatory Commission made a clear statement: After Ant suspends its listing, relevant institutions must fully consider the reasonable demands of investors and protect the legitimate rights and interests of investors!

As soon as the CSRC session ended, the five companies in charge of Ant’s strategic placement fund sang the opposite. They issued a statement through Alipay overnight:

At present, the 60 billion fund has been established, and its operation is not affected by the “ant incident”!

In addition to issuing a unified statement, funds such as China AMC and China Europe also issued their own announcements: 60 billion has now entered a state of normal operation, is in a closed period (18 months), and cannot be redeemed.

The translation is: money has been received, no refund!

Just kidding, with the money in the power circle…

Why can’t I apply for a refund for the money I invested?

Why are fund companies blatantly ignoring the SFC?

This is likely to be the biggest pit of investment and financial management in 2020. The lessons it has left are worth pondering by every ordinary person, and also worth reflecting on by rule-makers!

Investment and financial management are too deep, Xiaobai remembers!

　　2.

Review the whole process of “Ant Fund Incident”!

What is the “Ant Fund Incident”?

We shifted the timeline to over a month ago…

Under the belief that it can be listed in early November, on September 22, Ant Group announced that it will launch a “strategic placement of Ant Shares” inclusive wealth management in conjunction with five public funds, including E Fund, Huitianfu, Huaxia, Penghua and China Europe.

Soon, Ant released the event through Alipay, billboards and other advertising channels.

With Jack Ma and Alibaba’s endorsement, for a while, the hot spot of Ant’s strategic placement fund was frantically fired up, and various opinion leaders desperately praised and recommended:

“It’s a big benefit, if you don’t buy it, you won’t be able to catch up with this wealth train!”

“Don’t come again when you can’t miss it, buy as much as you have!”

Under the frenzied hype, the sales of the five battle matching funds were unprecedented. More than 13 million people flocked to them, and the 60 billion funds were snapped up in a short time. On average, 8 people participated in the subscription every 1 second.

Those with wealth will bet on a year and a half of wages, and those without wealth will “get on board” even if they don’t hesitate to borrow money.

Everyone thought that the opportunity to get rich was coming, but no one expected that they did not wait for Ant Financial to go public, but waited for the announcement of the Shanghai Stock Exchange to suspend the listing of Ant.

How long is it on hold?

half a year? A year or two? or forever?

No one can be sure.

The bad news came, and the faces of more than 13 million “winners” were pale!

They had already been tricked once, and now they can’t even get the 60 billion principal back.

As a result, they could only shout the slogan “fund companies refund money” on Weibo, Zhihu, and the homepages of various funds.

So, should the fund company return the 60 billion to investors immediately?

This 60 billion fund mainly focuses on placing Ant’s listed shares. In all its online media and print media advertising, all of them are deeply tied to Ant.

To put it bluntly, everyone is buying your 60 billion fund for Ant Financial. Otherwise, who is sick and wants to borrow money and rob them?

Now, Ant is no longer listed, the signboard is gone, and the contract will naturally not be established.

Therefore, the 60 billion must be returned immediately.

Fund companies must not play hooligans with money in their own hands!

　　3.

History is always surprisingly similar!

The Ant Fund incident reminded me of the “Unicorn Strategic Allotment Fund Incident” two years ago.

Maybe some people don’t quite understand what is a strategic placement fund? I’ll start with popular science, because this is a sinkhole that investment and financial management will inevitably encounter.

A strategic placement fund is simply a fund that strategically invests in a stock. It usually has a closed operation period and cannot be traded during the closed period, which means that it cannot be refunded.

For example, the closed period of Ant is 18 months. You hand over the money to the fund manager, and you can withdraw the money after 18 months. If you make a profit, you will make a profit, and if you lose, you will lose.

In 2018, the green channel for IPO of “unicorn” companies was opened, and a large number of companies announced that they were unicorns, or companies that invested in unicorns.

After the hot spot became popular, the capital market went crazy, and institutions quickly launched a unicorn investment fund, and took a cool name: a certain three-year closed strategic placement fund.

After coining a new term “strategic placement fund”, the capital world has reached a climax: this is the innovation of public funds, and it is also another practice of inclusive finance!

In June 2018, 6 fund companies including China Merchants, Hua Xia, E Fund, and Huitianfu obtained approval to raise the “Unicorn Strategic Allotment Fund”.

Relying on new concepts and new gimmicks, 6 fund companies quickly raised more than 100 billion funds, and the speed of attracting gold is comparable to a money printing machine.

On July 5, 2018, six strategic placement funds were established at the same time, and the investors at that time were as crazy as today’s Ant investors.

However, two years after the establishment of the position, these 6 war matching funds have almost stayed put, and none of them have risen by more than 10%.

If you include the price increase, it is equivalent to lending more than 100 billion yuan to the fund company for free, and you have to bear the risk of losing money.

Who can resist this!

We see that these funds like to engage in a closed period, as short as 18 months and as long as 3 years.

why?

On the surface, it is to avoid interference, and to invest with peace of mind within 3 years.

In fact, this is a complete set for investors.

There is no performance pressure for 3 years, and the income pops out from the cracks in the stone?

Looking back, we look at the so-called “innovation” of financial institutions, all of which are based on their own best interests, and no one is really oriented by the interests of investors.

Including the “innovation” of Ant Financial, it is the same, how to maximize the loan, how to increase the leverage ratio, and how to transfer the risk to the society.

The results of innovation belong to the bosses, but the price of innovation belongs to ordinary investors.

The butt decides the head, and ordinary people must not be led astray by the boss.

History is always strikingly similar.

After the “Unicorn Matching Fund” cut the leeks, the “Ant Matching Fund” cut.

How many people will be recruited for the next project?