China's first listed gold futures contracts Au0806 sustained in the haze in the completion of the historic mission. June 16 is June contract was last trading day, from June 17 start of the five trading days formal entry into the physical delivery period.
Gold futures since January 9 this year, landing it to the Shanghai Futures Exchange, has been the concern of many investors. However, due to the international gold Chonggao decline continued slump, domestic gold "fever" has rapidly receded, the increasingly shrinking turnover. Most investors have only Shayuergui.
Turnover massive atrophy
According to the Shanghai Futures Exchange, physical delivery of gold only institutional investors, customers may not participate in natural persons. All natural persons, held in June gold futures contract positions, trading on the date of implementation will directly by the Stock Exchange of forced positions. Therefore, many small and medium-sized retail pain to open. It is understood that entered the front-month June, turnover fell significantly, from the June 11 start had any turnover.
In fact, gold futures is the popular "flash in the pan." Compared with the beginning of listing, trading volume continued to shrink. The first day, all gold futures contracts were up there, all six contracts total turnover of 120,000 breakthrough in hand, the total turnover amounted to 27.347 billion yuan. Positions to the end of March to around 40,000 in hand, with a decline to about 18,000 in hand. Volume fell in April reached 62.8 percent, also shrink further by the end of May, the turnover from the original more than 270 million dropped to about 50 million yuan.
Purcell, chief economist at the high gold-Riley said that the international gold since March hit a record high of 1,032 U.S. dollars, has been in a process of amendment. In addition, a wave of dollar rebound, to bring pressure on gold. Limiting the domestic and international gold market trading interest.
"The market is not perfect, small and medium-sized retail investors do not have the expertise is also one of the main reasons." Industry experts believe that most domestic investors are also shareholders, in the hope that the gold bull market中分a share. Therefore, when under pressure after the gold, but also maintain full positions, not only Zhuizhang recovery or investment ideas. "They do not know how to build futures and wind control mechanisms used to go short the trading practices."
According to some futures companies that, as at present, gold futures to participate in the retail losses amounted to 90%, of which more than 80% of severe losses.
Go to the main contract in December
In view of the recent price trend is still in the blur state of the domestic gold futures contract transferred to the main force in December. June 16, Au0812 fell 0.58 percent, to close at 193.85 yuan / gram. Volume of 14,766 hand over a 996 day increase in hand, turnover increased from 195 million to 2.88 billion yuan. In view of this, the end of this investment is not optimistic about the gold.
But analysts believe that some institutions still remain the gold bull market has not yet concluded view, premature delivery is also unwilling to major gold futures contract postponed to December of the main reasons. Currently, the United States and other major gold futures contract is the main market in August.
The market generally believes that the momentum gained support gold value and investment both in terms of inflation in the current global status quo under the short-term are difficult to change. In particular, the Vietnamese economic crisis, leading to all the functions of the gold value the renewed interest. Therefore, the long-term perspective can still bargain hunting buying.
2008年6月30日星期一
60 trillion financial assets of state-owned investors tend to the Ministry of Finance
Long-standing dispute was finally suspended pending a conclusion. If no accident, the Ministry of Finance will become a state-owned financial assets of 60 trillion of investors.
This was informed that the upcoming second trial next week's "state-owned assets law" for the first time to join the clear terms.
It is familiar with the practices of the NPC Standing Committee, the NPC Legislative Affairs Commission in each meeting held before the 12 days, will be arranged on a draft law to amend the last time before being finalized. Therefore, the key provisions will be in the final minute before being modified, still a few variables.
Once the funding of the Ministry of Finance as a financial investor, can confirm is that the SAC model, the mode and the Temasek model will not become the future management of China's financial capital of the reference samples.
"Whispering" the Ministry of Finance
Responsible for "state-owned assets law" drafted by the NPC Standing Committee, concerned that the current "state-owned assets law" in the draft, the financial investor of state-owned assets only in principle, not detailed requirements.
"This should be clear as soon as possible. Now no one tube, no one regardless, this situation, the financial development, financial security are very negative. However, the contradiction between the particular sector, there is no consensus, no one should be from their own Tube. "Financial Science Institute of the Ministry of Finance Liu Shangxi, deputy director said.
Currently, China's central bank assets, including the financial assets total nearly 60 trillion yuan, from 10 before the financial assets of the world's total share of 1 percent, rising to 4% -5%.
The NPC Standing Committee, "state-owned assets law" drafting work group member, China University of Political Science, Graduate School of Vice-President Professor Li Shuguang said that the world can not find any one country like China that the total so enormous, so wide span of the financial State-owned assets.
Of these, the scope includes: state-owned and state-controlled, state-owned shareholding commercial banks, brokerages, futures, insurance companies, trust industry, rural finance, China Investment Co. Ltd., the Central Huijin Investment Co., Ltd., the foreign currency assets, Four asset management companies, the Social Security Fund Council, the various financial holding company, window company, the provincial control of the financial assets.
At the same time, China's existing financial assets management system is also confusion, the central bank, the SAFE, the Ministry of Finance, China Banking Regulatory Commission, Securities and Futures Commission, and other local governments have their own responsibilities.
Once the financial state-owned assets identified "Whispering" the Ministry of Finance, the next step will be to consider what mode of the Ministry of Finance to manage financial assets.
Liu Shangxi, from several internal discussions of the situation, "First is to find out the state-owned financial assets of the floor. In addition, the state-owned financial asset management should not imitate the SASAC 'management of personnel, other affairs, the assets' management . "
Liu Shangxi, a state-owned financial asset management and assets of different entities, the sensitivity and risk of a higher, we need a new way of thinking.
Liu Shangxi, "Singapore Temasek model," there is no reference to China significance. This is because Singapore's financial model and the Chinese did not have much comparability.
Liu Shangxi, a state-owned financial asset management is not appropriate to take "The payment model." He said that now the payment has been merged in the vote, the payment as a business unit or a tool of the company, not the owner or the investor's role.
State Council Development Research Center, Li Zhaoxi, deputy director of enterprises that should be integrated in the Ministry of Finance and the Meeting of the vote in the relationship and the establishment of relations between all levels of the agency.
This was informed that the upcoming second trial next week's "state-owned assets law" for the first time to join the clear terms.
It is familiar with the practices of the NPC Standing Committee, the NPC Legislative Affairs Commission in each meeting held before the 12 days, will be arranged on a draft law to amend the last time before being finalized. Therefore, the key provisions will be in the final minute before being modified, still a few variables.
Once the funding of the Ministry of Finance as a financial investor, can confirm is that the SAC model, the mode and the Temasek model will not become the future management of China's financial capital of the reference samples.
"Whispering" the Ministry of Finance
Responsible for "state-owned assets law" drafted by the NPC Standing Committee, concerned that the current "state-owned assets law" in the draft, the financial investor of state-owned assets only in principle, not detailed requirements.
"This should be clear as soon as possible. Now no one tube, no one regardless, this situation, the financial development, financial security are very negative. However, the contradiction between the particular sector, there is no consensus, no one should be from their own Tube. "Financial Science Institute of the Ministry of Finance Liu Shangxi, deputy director said.
Currently, China's central bank assets, including the financial assets total nearly 60 trillion yuan, from 10 before the financial assets of the world's total share of 1 percent, rising to 4% -5%.
The NPC Standing Committee, "state-owned assets law" drafting work group member, China University of Political Science, Graduate School of Vice-President Professor Li Shuguang said that the world can not find any one country like China that the total so enormous, so wide span of the financial State-owned assets.
Of these, the scope includes: state-owned and state-controlled, state-owned shareholding commercial banks, brokerages, futures, insurance companies, trust industry, rural finance, China Investment Co. Ltd., the Central Huijin Investment Co., Ltd., the foreign currency assets, Four asset management companies, the Social Security Fund Council, the various financial holding company, window company, the provincial control of the financial assets.
At the same time, China's existing financial assets management system is also confusion, the central bank, the SAFE, the Ministry of Finance, China Banking Regulatory Commission, Securities and Futures Commission, and other local governments have their own responsibilities.
Once the financial state-owned assets identified "Whispering" the Ministry of Finance, the next step will be to consider what mode of the Ministry of Finance to manage financial assets.
Liu Shangxi, from several internal discussions of the situation, "First is to find out the state-owned financial assets of the floor. In addition, the state-owned financial asset management should not imitate the SASAC 'management of personnel, other affairs, the assets' management . "
Liu Shangxi, a state-owned financial asset management and assets of different entities, the sensitivity and risk of a higher, we need a new way of thinking.
Liu Shangxi, "Singapore Temasek model," there is no reference to China significance. This is because Singapore's financial model and the Chinese did not have much comparability.
Liu Shangxi, a state-owned financial asset management is not appropriate to take "The payment model." He said that now the payment has been merged in the vote, the payment as a business unit or a tool of the company, not the owner or the investor's role.
State Council Development Research Center, Li Zhaoxi, deputy director of enterprises that should be integrated in the Ministry of Finance and the Meeting of the vote in the relationship and the establishment of relations between all levels of the agency.
Fund Notes under the big planes the second half of the petrochemical market, or pull back to 4500 points
Big bets in advance of funds "petrochemical double-Bear" on the South China encumbered chips
"Second half of the year will be up oil prices, oil in the petrochemical market may pull back to 45 points,"
Big positive. The evening of June 19, the State Development and Reform Commission announced price increases. This seems to be expected as early as the Fund. There are signs that the recent advance over the layout of the oil Sinopec.
Game oil policy, oil, petrochemical Baotuan heating funds into the new port
The story has been Quzhongrensan Unicom, the largest weight of banking stocks are still faced with the suffering of macro-control policies, then Festival, the Fund Game oil policy choices, in the petrochemical, oil in a new heating Baotuan object.
Although the first quarter of this year, petrochemical, "planes" played a "double-Bear" the embarrassing role, shares were down 48.23 percent (Sinopec), 44.38 percent (of oil).
However, from April onwards, the surge in international oil prices accelerated upward, the Shanghai index down Tandi speed up the double negative attacks, "the petrochemical double-Bear" is unusually strong, as at June 13, since the second quarter, two market Shares index fell only 5.93 percent (Sinopec), 12.95 percent (of oil), far lower than the TOPIX index of 19.87 percent decrease.
Behind the resilience of the support of the Fund. China is the main force to do more funds and the South Fund.
Fund collective strength to do more, China, South beginning
"Oil prices rose on the ship that is the time"
"The Fund can not see the likes of such clear timetable for the" policy is expected. "Like the previous Makers Zuozhuang style, once the message clear, the major benefits will take more fled the recent case in China Unicom is the Fund (600,050, It shares) (600,050) operation. "A market that really Daidao oil prices rose, that is, the date of shipment.
Level2 data showed that as at June 13, A-shares in the petrochemical institutions reached 22.60 percent ratio positions, compared with holdings of nearly two months ago, 5 percent; oil in the A-share institutional position of 10.20 percent, compared to about two months ago by A nearly 4 percent.
On behalf of the Fund and the G word trading seats from April 1 to June 13 within the range of net buying in the petrochemical 264,239 million, 227,652 million in oil and signs of continued Zengcang obvious.
In the oil above, the South Fund for the two seats G30368 and G29837 trading in oil prices broke through late May at 140 dollars, bought a net over 200 million yuan, to become the first major large do more.
Sinopec above, the Huaxia Fund's three seats in transactions in batches 4, 5, 6, bought a net 200 million yuan.
Director of Research for the two funds: the inflation increase is the largest oil prices hampered, oil, petrochemical thermal power was the most optimistic about
"International crude oil market continue to record high oil prices, China, the world's second-largest oil-importing countries, the annual oil import up to 160 million tons, China adopted measures to limit oil prices, resulting in domestic demand for oil has not reduced or even increasing trend Therefore, as long as China continues to take measures to control oil prices, oil prices will continue to rise, from this level speaking, the Chinese Government has faced great pressure, the whole world is concerned about China when the oil price hikes. "
In Shanghai, a joint venture fund companies, research director, the current oil prices, rose to 2,500 yuan to compensate for loss of Sinopec, but this result will lead to global hyperinflation.
Director Liang Feng allies China and Thailand agreed to the above investment, research director at the point of view, he told reporters: "very real, the Chinese anti-inflation policies on oil demand have some negative impact. It must be acknowledged that oil price control is We have an important anti-inflation tool. Constantly faced with higher oil prices, an increasing number of Governments have moved away from the control of oil prices, but China has also carrying it with a large number of China's trade surplus and foreign exchange reserves have great relations, the Government A relatively good foundation for anti-inflation. "
"Second half of the year will be up oil prices, oil in the petrochemical market may pull back to 45 points,"
Big positive. The evening of June 19, the State Development and Reform Commission announced price increases. This seems to be expected as early as the Fund. There are signs that the recent advance over the layout of the oil Sinopec.
Game oil policy, oil, petrochemical Baotuan heating funds into the new port
The story has been Quzhongrensan Unicom, the largest weight of banking stocks are still faced with the suffering of macro-control policies, then Festival, the Fund Game oil policy choices, in the petrochemical, oil in a new heating Baotuan object.
Although the first quarter of this year, petrochemical, "planes" played a "double-Bear" the embarrassing role, shares were down 48.23 percent (Sinopec), 44.38 percent (of oil).
However, from April onwards, the surge in international oil prices accelerated upward, the Shanghai index down Tandi speed up the double negative attacks, "the petrochemical double-Bear" is unusually strong, as at June 13, since the second quarter, two market Shares index fell only 5.93 percent (Sinopec), 12.95 percent (of oil), far lower than the TOPIX index of 19.87 percent decrease.
Behind the resilience of the support of the Fund. China is the main force to do more funds and the South Fund.
Fund collective strength to do more, China, South beginning
"Oil prices rose on the ship that is the time"
"The Fund can not see the likes of such clear timetable for the" policy is expected. "Like the previous Makers Zuozhuang style, once the message clear, the major benefits will take more fled the recent case in China Unicom is the Fund (600,050, It shares) (600,050) operation. "A market that really Daidao oil prices rose, that is, the date of shipment.
Level2 data showed that as at June 13, A-shares in the petrochemical institutions reached 22.60 percent ratio positions, compared with holdings of nearly two months ago, 5 percent; oil in the A-share institutional position of 10.20 percent, compared to about two months ago by A nearly 4 percent.
On behalf of the Fund and the G word trading seats from April 1 to June 13 within the range of net buying in the petrochemical 264,239 million, 227,652 million in oil and signs of continued Zengcang obvious.
In the oil above, the South Fund for the two seats G30368 and G29837 trading in oil prices broke through late May at 140 dollars, bought a net over 200 million yuan, to become the first major large do more.
Sinopec above, the Huaxia Fund's three seats in transactions in batches 4, 5, 6, bought a net 200 million yuan.
Director of Research for the two funds: the inflation increase is the largest oil prices hampered, oil, petrochemical thermal power was the most optimistic about
"International crude oil market continue to record high oil prices, China, the world's second-largest oil-importing countries, the annual oil import up to 160 million tons, China adopted measures to limit oil prices, resulting in domestic demand for oil has not reduced or even increasing trend Therefore, as long as China continues to take measures to control oil prices, oil prices will continue to rise, from this level speaking, the Chinese Government has faced great pressure, the whole world is concerned about China when the oil price hikes. "
In Shanghai, a joint venture fund companies, research director, the current oil prices, rose to 2,500 yuan to compensate for loss of Sinopec, but this result will lead to global hyperinflation.
Director Liang Feng allies China and Thailand agreed to the above investment, research director at the point of view, he told reporters: "very real, the Chinese anti-inflation policies on oil demand have some negative impact. It must be acknowledged that oil price control is We have an important anti-inflation tool. Constantly faced with higher oil prices, an increasing number of Governments have moved away from the control of oil prices, but China has also carrying it with a large number of China's trade surplus and foreign exchange reserves have great relations, the Government A relatively good foundation for anti-inflation. "
Fuyao Glass main fled dished out four hours a total of about 28 million yuan (2)
Three major risk drag Fuyao Glass 2008 a difficult year, regardless of the Fuyao Glass, or the owner of the shares for. Fuyao Glass 2007 Main achieving a total revenue 4959235400 yuan, of which 1458410100 yuan from overseas, accounting for about 29.4 percent, mainly to the U.S. dollar clearing. And this year about the appreciation of the RMB against the U.S. dollar by 6%, and have accelerated the trend of appreciation. Three major risks, this one. Second, if the company said the reorganization A stock market is the eternal themes, then the first half of 2008 to contend with the subject matter is no doubt the concept of price increases, coke, vitamins, phosphate, pesticides, and so all through "rose Price "was out of a wave of independence in the market prices. However, Fuyao Glass, the price hikes is not a good story, Fuyao Glass opened the first quarter 2008 performance report found that its main business of float glass and car-mail the decline in gross margins, sales Gross margin from 2007's 37.69 percent decline in the mid-2008 to the first quarter of 32.95 percent. The reason, in addition to the appreciation of the renminbi, the biggest factor behind the cost is rising. If, as the main raw materials of automotive glass soda, in 2008 the first five months of the end of 2007 than the average price has climbed about 20 percent. In addition, automotive glass manufacturers need to consume a large amount of heavy oil, in 2008 all the way since the international crude oil prices soaring, the current stability in about 130 U.S. dollars, Fuyao Glass on the same cost control resulted in greater pressure. The prices of raw materials in the context of the entire automotive industry's declining gross margin level, which makes Fuyao Glass to the cost pressures being transmitted to the lower reaches of the vehicle industry is even more difficult. The third is from the policies of the risks. China's current auto consumption pattern is very expensive car prices, cheaper and fuel prices. Chinese consumers, the main consideration is the vehicle to buy a one-time expenditures, and the day-to-day support to worry about spending less. Long-term perspective, China's current low oil price policy is obviously not conducive economic environment for sustainable development, with the disposable income of residents continue to improve, low fuel domestic policy may lead to changes in the structure of car models, that is, more people Like to buy high-emission fuel consumption of fuel-efficient cars and to gradually abandon the economic cars, which like China a country with a large population is difficult to sustain. Therefore, the refined oil prices is bound to open up. This is almost on all vehicles and auto parts stocks are a big negative.
Fuyao Glass main fled dished out four hours a total of about 28 million yuan (1)
In June 16 lasted 4 hours, a total of 121, sell seats suspected Guotai Junan A21907 seats
June 16, Hu Zhi struggling slightly up 0.18%, K Line left a cross on the stars, Duokong see-saw fierce. In fierce fighting, Fuyao Glass quietly selling the auto, basically every one minute, a sum of the sale of 159 hand-will appear.
Four hours, sold 159 per minute automatic hand
The trading hours of the day four hours, every minute around the first 36 seconds, Fuyao Glass on the disk will be dished out a big sell orders, of which 159 hands in four hours, a total of 121, 160,161, etc. Also frequent, taking into account the Shang Jiaosuo Details of the transaction are brought together every three seconds, does not rule out the sale of 160 single-hand by hand with another 159 single-handedly formed.
Weekly financial reporter for the day Fuyao Glass topview data found that most of the day is to sell the business department of Guotai Junan seats A21907, sold 27.11 million yuan the day, not buy. Net sellers occupy the second with the famous QFII seats - the Shanghai Shenyin Wanguo Xinchang Road business department, sold 5.9194 million yuan, the same did not buy.
June 16, Fuyao Glass opened at 7.51 yuan lower, to close at 7.19 yuan a single day down 4.64 percent, the average price 7.37 yuan. If the main short-dished out 159 per minute hand, in four hours of trading hours, dished out a total of 38,160 hand. To date average basis, dished out a total of about 28.1239 million yuan, and topview data showed the same day sold the largest Guotai Junan business department of the seats sold roughly a considerable amount. But after the Fuyao Glass does not show what is special about, June 17 it fell as the market inertia, the next three days in the market and driven drift.
From the stock, the Fuyao Glass from the February high of 38.49 yuan fell to June 20 of 13.47 yuan (right-price), the last 26 trading days, has a 20 Yinxian. May 7 Fuyao Glass to reduce stamp duty after reaching a new high of 30.4 yuan, then the 30 trading days funding agencies have 26 days net outflow, institutions accounted positions fell by 71.68 percent to 59.08 percent, while the stock ownership General account has soared to 35,104 by June 18 of 76830.
159 hands, the hands of humor Caopan »
Caopan a familiar hand, told reporters last stage of rapid market decline, Caopan become Wushikezuo hand most of the time, sold 159 per minute automatic hand may only Caopan hands of humor only. This reporter for the regular automatic sold 159 per minute hand was whether the opponent will know in advance of the operation strategy so as to cause losses to the side, the Caopan hand, now this market has been very difficult to find opponents set , All-Gerou, even for those brave Chaodi of funds, they also secretly Xichou only, not a proactive approach.
South Fund, a fund manager of Jian-Qiang said in an interview that such operations could not explain the tactics and what special significance, the issue of fund managers to buy or sell instructions, and not on specific methods of operation to issue Other instructions, the main force may be used for short-"159 hand" issued by the bets language, built on their strong that it is difficult to determine, after all bets language often with Yixiang ingredients.
And our allies China and Thailand Fund, a fund manager Wang Hui said that the computer automatically sell the stock under the single-certain extent, reflected the weak market, sell such practices not only show that fund managers are not optimistic about stocks of investors, fund managers also note the Are not too optimistic about the market. Wang Hui said that fund managers are usually issued instructions to buy or sell, Caopan hand for the specific mode of operation will not interfere, as long as Caopan hand in a price range to complete the fund managers issued the directive even if the completion of tasks, gymnastics Has a hand-or the freedom. Caopan against the hand that the market was already difficult to find opponents of the argument, Wang Hui said with a smile, "This may indicate that the market has not far from the end."
June 16, Hu Zhi struggling slightly up 0.18%, K Line left a cross on the stars, Duokong see-saw fierce. In fierce fighting, Fuyao Glass quietly selling the auto, basically every one minute, a sum of the sale of 159 hand-will appear.
Four hours, sold 159 per minute automatic hand
The trading hours of the day four hours, every minute around the first 36 seconds, Fuyao Glass on the disk will be dished out a big sell orders, of which 159 hands in four hours, a total of 121, 160,161, etc. Also frequent, taking into account the Shang Jiaosuo Details of the transaction are brought together every three seconds, does not rule out the sale of 160 single-hand by hand with another 159 single-handedly formed.
Weekly financial reporter for the day Fuyao Glass topview data found that most of the day is to sell the business department of Guotai Junan seats A21907, sold 27.11 million yuan the day, not buy. Net sellers occupy the second with the famous QFII seats - the Shanghai Shenyin Wanguo Xinchang Road business department, sold 5.9194 million yuan, the same did not buy.
June 16, Fuyao Glass opened at 7.51 yuan lower, to close at 7.19 yuan a single day down 4.64 percent, the average price 7.37 yuan. If the main short-dished out 159 per minute hand, in four hours of trading hours, dished out a total of 38,160 hand. To date average basis, dished out a total of about 28.1239 million yuan, and topview data showed the same day sold the largest Guotai Junan business department of the seats sold roughly a considerable amount. But after the Fuyao Glass does not show what is special about, June 17 it fell as the market inertia, the next three days in the market and driven drift.
From the stock, the Fuyao Glass from the February high of 38.49 yuan fell to June 20 of 13.47 yuan (right-price), the last 26 trading days, has a 20 Yinxian. May 7 Fuyao Glass to reduce stamp duty after reaching a new high of 30.4 yuan, then the 30 trading days funding agencies have 26 days net outflow, institutions accounted positions fell by 71.68 percent to 59.08 percent, while the stock ownership General account has soared to 35,104 by June 18 of 76830.
159 hands, the hands of humor Caopan »
Caopan a familiar hand, told reporters last stage of rapid market decline, Caopan become Wushikezuo hand most of the time, sold 159 per minute automatic hand may only Caopan hands of humor only. This reporter for the regular automatic sold 159 per minute hand was whether the opponent will know in advance of the operation strategy so as to cause losses to the side, the Caopan hand, now this market has been very difficult to find opponents set , All-Gerou, even for those brave Chaodi of funds, they also secretly Xichou only, not a proactive approach.
South Fund, a fund manager of Jian-Qiang said in an interview that such operations could not explain the tactics and what special significance, the issue of fund managers to buy or sell instructions, and not on specific methods of operation to issue Other instructions, the main force may be used for short-"159 hand" issued by the bets language, built on their strong that it is difficult to determine, after all bets language often with Yixiang ingredients.
And our allies China and Thailand Fund, a fund manager Wang Hui said that the computer automatically sell the stock under the single-certain extent, reflected the weak market, sell such practices not only show that fund managers are not optimistic about stocks of investors, fund managers also note the Are not too optimistic about the market. Wang Hui said that fund managers are usually issued instructions to buy or sell, Caopan hand for the specific mode of operation will not interfere, as long as Caopan hand in a price range to complete the fund managers issued the directive even if the completion of tasks, gymnastics Has a hand-or the freedom. Caopan against the hand that the market was already difficult to find opponents of the argument, Wang Hui said with a smile, "This may indicate that the market has not far from the end."
Jukui the first quarter of the Fund with 650 billion as huge management fees 5000000000 (2)
Pianleng market rates but promote sales drop
Published more than 20 fund companies preferential Notice
Beijing a fund company on the financial markets of the weekly newspaper said that in the last year, the sales performance of the popular, fund performance continued to surge, the Fund frequently issued hundreds of billion yuan, maintaining a high level of rates or rate increases can understand, but now the market cold , Higher rates make investors more sensitive.
In order to win over investors, fund companies have reduced rates to attract investors. Just entering June, on the coming Jiashi, Galaxy, Taiwan, cross-Schroeder, easy to reach and many other fund companies in the banking channels for fund sales agency for the implementation of preferential purchase rates in May were nearly 20 fund companies voted for the publication of such notice. Recently, Taida He announced that Bank's Monetary Fund in addition to eight other than the fund will be June 19, 2008 from participation in the Bank of China (601,988) launched the front end of the regular fixed purchase rates for business activities. During regular business front-end fixed rate for purchase of 8%.
At the same time, side-by also announced that its its steady growth, growth strategy, 50 index, positive growth of eight to participate in the Bank of Communications (601,328) launched fixed for the regular activities, that is, regular fixed commission rates to 8% Concessions, the discount rate of not less than 0.6 percent. Prior to E of the Fund has just announced that in addition to easy opening of the China Everbright Bank, to enhance the return outside the 10 open-end fund scheduled for business and for easy side of steady growth, the Fund's growth strategy for the business, are To purchase, the concessionary rate of 8%. At this point, investors in the Bank of China, Industrial and Commercial Bank (601,398), China Everbright Bank, China Construction Bank (601,939) fund to buy the company can enjoy preferential rates.
In addition to Taida He silver and easy to reach, there are Hua Baoxing the recent announcement of external funds through the purchase of the Construction Bank of the seven Hua Baoxing industry can enjoy the purchase, the Fund 8% discount rate, Jiashi, Cathay Pacific, intermediation And many other fund companies have also joined the trend of discount rates.
Industry experts point out that in the course of the operation of the product design or the beginning of a fund balance of short-term gains. Therefore, the lower Shanghai foreclosure rates for investors to fund short-term investments arbitrage undoubtedly more favourable.
Published more than 20 fund companies preferential Notice
Beijing a fund company on the financial markets of the weekly newspaper said that in the last year, the sales performance of the popular, fund performance continued to surge, the Fund frequently issued hundreds of billion yuan, maintaining a high level of rates or rate increases can understand, but now the market cold , Higher rates make investors more sensitive.
In order to win over investors, fund companies have reduced rates to attract investors. Just entering June, on the coming Jiashi, Galaxy, Taiwan, cross-Schroeder, easy to reach and many other fund companies in the banking channels for fund sales agency for the implementation of preferential purchase rates in May were nearly 20 fund companies voted for the publication of such notice. Recently, Taida He announced that Bank's Monetary Fund in addition to eight other than the fund will be June 19, 2008 from participation in the Bank of China (601,988) launched the front end of the regular fixed purchase rates for business activities. During regular business front-end fixed rate for purchase of 8%.
At the same time, side-by also announced that its its steady growth, growth strategy, 50 index, positive growth of eight to participate in the Bank of Communications (601,328) launched fixed for the regular activities, that is, regular fixed commission rates to 8% Concessions, the discount rate of not less than 0.6 percent. Prior to E of the Fund has just announced that in addition to easy opening of the China Everbright Bank, to enhance the return outside the 10 open-end fund scheduled for business and for easy side of steady growth, the Fund's growth strategy for the business, are To purchase, the concessionary rate of 8%. At this point, investors in the Bank of China, Industrial and Commercial Bank (601,398), China Everbright Bank, China Construction Bank (601,939) fund to buy the company can enjoy preferential rates.
In addition to Taida He silver and easy to reach, there are Hua Baoxing the recent announcement of external funds through the purchase of the Construction Bank of the seven Hua Baoxing industry can enjoy the purchase, the Fund 8% discount rate, Jiashi, Cathay Pacific, intermediation And many other fund companies have also joined the trend of discount rates.
Industry experts point out that in the course of the operation of the product design or the beginning of a fund balance of short-term gains. Therefore, the lower Shanghai foreclosure rates for investors to fund short-term investments arbitrage undoubtedly more favourable.
Jukui the first quarter of the Fund with 650 billion as huge management fees 5000000000 (1)
This year, the stock market to continue to pullback, the net all the way down. According to relevant statistics, the nearest one-quarter loss of 650 billion yuan. However, although the loss of funds, but fund companies are still more than 50 million management fee income.
Bull market, most investors make money, after deducting management fees that generally do not care, but in a bear market, the situation may be quite different, the major fund group, users of the Fund to earn the high management fees Masheng one.
Last year, the data even more surprising, 58 fund companies of 341 funds in 2007 Annual Report show that last year the management fee income totaled 27.905 billion yuan, the data in 2006 than the 5.536 billion yuan for substantial growth 404.06%.
Charges of poor earnings more than eight Fund
Ruifu aggressive net minimum, King-fund charges a maximum of two Great Wall
Statistics show that only in the first quarter, the net value of equity funds fell by an average of 22.58 percent, to enter the second quarter, the market looks forward to the "red May" after all absent, and "red in June," also encountered head-on blow.
The first half of 2008, the overall losses of up to 1 trillion yuan, exceeding the national economy as a central pillar of the 169 enterprises of the total profits in 2007, more than China in 2006 and 2007 two years of financial revenues.
According to statistics, as of June 13 this year, since the decline in the net in the first row of UBS Investment Fund Ruifu progressive decline has been more than 50 percent, to 58.66 percent, the fund's net assets fell 0.478 yuan, a record The domestic fund industry's net new low. In addition, the growth of core governance days, days WONG Featured, Hua Baoxing multi-industry growth strategy, the new century Optimization dividends, Cathay Pacific's Shanghai and Shenzhen 300 units respectively, the net value of only 0.5597 yuan and 0.5743 yuan, 0.583 yuan and 0.5969 yuan, 0.597 yuan, and Net hovering in the 6 cents to 1 dollar between the Fund is as high as 163.
Despite the substantial loss of investors, but fund companies are earning management fees or, as always, huge.
All 388 open-end funds, seven funds in the purchase rate of 2.0 percent over 19 funds at 1.5 percent.
According to financial weekly statistics, the fund company charges the highest in the King Shun is the Great Wall of two funds: the Great Wall of domestic demand growth with King 2, King selected blue chips with the Great Wall, the two fund to 2.5 percent of the purchase fee and 0.5% The fund charges redemption fees ranked the top list. Xianbu Shui Fund does not earn money, investors "into a" one must pay 3 percent of the cost of the bear market of people, some of these higher costs. But what was even more depressing is that investors, King-the Great Wall of domestic demand growth this year on the 2nd for the most serious since the net value of the fund, the net value of the Fund fell 35.79 percent, King selected blue chips with the Great Wall Fund also performed poorly this year, the net value of the Fund since dropped 32.30%.
King with the Great Wall of domestic demand growth on the 2nd Fund was established in October 2006, at the time when fund companies have raised the rate of the sales increase, and the bull market began rising number of factors, a substantial increase domestic demand on the 2nd application fee rising to the first fund industry.
Other charges higher Fund, such as Guangdong Development Fund Selection, 1.8 percent of the purchase fee and 0.5 percent for the redemption of the Fund since the fund this year, the net decrease of 35.11 percent. East Select funds, 1.8 percent of the purchase fee and 0.5% redemption fee, the Fund since the fund this year, the net decrease of 33.13 percent. Peng, industry growth fund, 1.6 percent of the purchase fee and 0.5% of the redemption fee, the Fund since the fund this year, the net decrease of 30.52 percent.
According to the Shenzhen company to a fund, the Fund's purchase / subscription rates are issued with the relevant time, in recent years the issue of late, relatively higher rates. Moreover, the general called on the 2nd of all, such as the King with domestic demand growth in the Great Wall No. 2. Purchase, subscription rates to most of the consignment at institutions such as banks, brokerages and fund companies themselves with a small head, management fees, fund companies redemption fee is the bulk of their money. But if the fund company in the loss of the more serious cases, the more consideration the feelings of the holder, such as appropriate to reduce the proportion of management fees, etc., perhaps more to win the holders adhere to and respect.
Bull market, most investors make money, after deducting management fees that generally do not care, but in a bear market, the situation may be quite different, the major fund group, users of the Fund to earn the high management fees Masheng one.
Last year, the data even more surprising, 58 fund companies of 341 funds in 2007 Annual Report show that last year the management fee income totaled 27.905 billion yuan, the data in 2006 than the 5.536 billion yuan for substantial growth 404.06%.
Charges of poor earnings more than eight Fund
Ruifu aggressive net minimum, King-fund charges a maximum of two Great Wall
Statistics show that only in the first quarter, the net value of equity funds fell by an average of 22.58 percent, to enter the second quarter, the market looks forward to the "red May" after all absent, and "red in June," also encountered head-on blow.
The first half of 2008, the overall losses of up to 1 trillion yuan, exceeding the national economy as a central pillar of the 169 enterprises of the total profits in 2007, more than China in 2006 and 2007 two years of financial revenues.
According to statistics, as of June 13 this year, since the decline in the net in the first row of UBS Investment Fund Ruifu progressive decline has been more than 50 percent, to 58.66 percent, the fund's net assets fell 0.478 yuan, a record The domestic fund industry's net new low. In addition, the growth of core governance days, days WONG Featured, Hua Baoxing multi-industry growth strategy, the new century Optimization dividends, Cathay Pacific's Shanghai and Shenzhen 300 units respectively, the net value of only 0.5597 yuan and 0.5743 yuan, 0.583 yuan and 0.5969 yuan, 0.597 yuan, and Net hovering in the 6 cents to 1 dollar between the Fund is as high as 163.
Despite the substantial loss of investors, but fund companies are earning management fees or, as always, huge.
All 388 open-end funds, seven funds in the purchase rate of 2.0 percent over 19 funds at 1.5 percent.
According to financial weekly statistics, the fund company charges the highest in the King Shun is the Great Wall of two funds: the Great Wall of domestic demand growth with King 2, King selected blue chips with the Great Wall, the two fund to 2.5 percent of the purchase fee and 0.5% The fund charges redemption fees ranked the top list. Xianbu Shui Fund does not earn money, investors "into a" one must pay 3 percent of the cost of the bear market of people, some of these higher costs. But what was even more depressing is that investors, King-the Great Wall of domestic demand growth this year on the 2nd for the most serious since the net value of the fund, the net value of the Fund fell 35.79 percent, King selected blue chips with the Great Wall Fund also performed poorly this year, the net value of the Fund since dropped 32.30%.
King with the Great Wall of domestic demand growth on the 2nd Fund was established in October 2006, at the time when fund companies have raised the rate of the sales increase, and the bull market began rising number of factors, a substantial increase domestic demand on the 2nd application fee rising to the first fund industry.
Other charges higher Fund, such as Guangdong Development Fund Selection, 1.8 percent of the purchase fee and 0.5 percent for the redemption of the Fund since the fund this year, the net decrease of 35.11 percent. East Select funds, 1.8 percent of the purchase fee and 0.5% redemption fee, the Fund since the fund this year, the net decrease of 33.13 percent. Peng, industry growth fund, 1.6 percent of the purchase fee and 0.5% of the redemption fee, the Fund since the fund this year, the net decrease of 30.52 percent.
According to the Shenzhen company to a fund, the Fund's purchase / subscription rates are issued with the relevant time, in recent years the issue of late, relatively higher rates. Moreover, the general called on the 2nd of all, such as the King with domestic demand growth in the Great Wall No. 2. Purchase, subscription rates to most of the consignment at institutions such as banks, brokerages and fund companies themselves with a small head, management fees, fund companies redemption fee is the bulk of their money. But if the fund company in the loss of the more serious cases, the more consideration the feelings of the holder, such as appropriate to reduce the proportion of management fees, etc., perhaps more to win the holders adhere to and respect.
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