Category: Money Tips Date: 2006-12-02
Recently, China CAMC become full circulation under the conditions of the first IPO company, silent a year to re-start the IPO is expected to IPO and refinancing will enter a peak period, individual investors how to share the revenue? Reporter in an interview with China Merchants Securities has a "cash cow collection of asset management plans," investment manager Shen Weiguo.
Shen Weiguo said that according to the domestic securities market and the Hong Kong and other overseas markets, historical experience, purchase of new shares is a low-risk, higher-yielding investment products, China's stake in the reform of securities market has experienced a year after the resumption of equity financing, investors share in the proceeds, there are three path choices: self-purchase, purchase a collection of funds, a collection of asset management plans. Shen Weiguo advantages and disadvantages that this in three ways.
A collection of self-purchase, and purchase funds belong to individual investors direct investment. Self-purchase has the advantage of exclusive benefits, but the probability of winning the lottery and the lottery as very low. Although the collection of funds will increase the subscription success rate and achieved an average rate of return, but because individuals are not qualified institutional investors issuing new shares, some distribution to investors eligible to be limited, while IPO issuance and financing are also at risk, risk control is comparatively low, investors will also take up a lot of time and effort. Also, according to historical experience, the collection of funds less than 500 million, still can not guarantee a higher chance of winning the lottery.
Categories such as "investment cash cow" Such enhanced Monetary Fund, not only can invest in short-term financial instruments to ensure that the investor base earnings, but also purchase new shares, issuance and convertible. It belongs to comply with "On the IPO Regulatory Commission issues notice" inquiry set forth in the objects and placing objects, without eligibility for limited, but also a collection of financial advantage, to share issue proceeds to obtain the average purchase rate of return at the same time participate in offline purchase, and also to increase the use of funds to get a higher multiple of earnings.
Of course, purchase of new shares are also at risk, but a collection of assets, project management, man-made professional investors, risk control ability. At the same time a "cash cow" is also a tool for cash management, liquidity is good, and out of no-cost, no new share subscription, can have the interest income share is higher than demand. Limit the size of such products, new shares will not be shared with low income. These advantages are several other investment can not be compared.
Shen Weiguo suggested that there was energy and analytical ability of the individual investors, and the minimum return on capital does not require the hope that occasionally in the ballot can get a higher personal income investors may choose to purchase. Choose the "cash cow" such a collection of asset management plans, to help ensure a minimum income investors to ensure liquidity, using a collection of asset management plans for QFII qualification and financial advantages, in ensuring the basis of average revenue increase returns to investors, which is an alternative to individual investors.
