129822733280468750_49"Fund, we judge the decision is devoted to new banking products, financial companies and trusts. "The South Fund Chief Strategy analyst trainee newspaper reporter Chen Lin Yang Delong analysis on Monday, on revising the measures for the administration of securities issuance and underwriting decision formally introduced. "Simple get primary and secondary market pricesDifference for the purpose of purchase of new shares, securities investment account shall not be taken as shares placing objects "related provisions attracted the attention of the fund securities Journal Weekly reporter. After all, the stock funds, bond funds are involved in the purchase of new shares of the main force, particularly in bond funds, and many of them are due to win the primary and secondary markets spread and the purchase of new shares. So, new shares issued new regulations on the baseGold effect how to do? In this regard, we interviewed several people in the industry, they generally felt that this provision or on the level of debt-based (invest in stock market, bond funds that do not participate in the secondary market) more. Chief policy analyst Yang Delong in the South told the securities funds weekly reporter said in an interview with the daily, Fund, we judge the decision directedIs devoted to new banking products, financial companies and trusts. Director of a large fixed-income fund company in Guangzhou in an interview with the fund securities Journal Weekly reporter acknowledged in new contributions to base income level debt well, if the decision to limit the level of debt-based new, effect on the funds must be very large. New vibration level debt based on May 21,The China Securities Regulatory Commission held a news briefing, China Securities Regulatory Commission officially announced to the public-the 78th on revising the measures for the administration of securities issuance and underwriting decision (hereinafter the decision). Article III provides for the strengthening of the quotation, price regulation. For some investors fail to pay attention to study under the network company fundamentals just to win the primary and secondaryMarket price difference for the purpose of participation in the purchase of new shares under the network
wow power leveling, provided for in the way, institutional investors in Securities prospectuses of investment products, investment management agreements and other documents contained directly or indirectly in to win the primary and secondary market price differences for the purpose of purchasing new shares, securities investment account shall not be taken as shares placing objects. Securities industry self-regulatory rules on the promotion of the Association networkReasonable price further defined under specific conditions. As we all know, debt funds, mixed funds on the market share currently based (including debt-debt-based
wow cd-key, and the second-level base)
TERA CD-key, as well as capital preservation funds were in the market to purchase the new shares. While the industry analysis, for now, debt level based on these most sensitive decision, after all bonus and secondary debt allows you to configure the basic body of the second-level cityField stock. Director of a large fixed-income fund company in Guangzhou in the acceptance of the fund securities journal weekly reporters are also deeply worried now, debt levels based on this requirement it is quite sensitive. He stressed that since its 2002 first-level debt-based listing, markets have been relatively stable over the 10 years, if the decision to limit the level of debt-based new, on the classEffect Fund must be very large. WIND information data and statistics show that as of May 22, existing levels of debt based on the Fund market today 125 (A/B/C separate checks), since the beginning of this year the average weighted rate of return of 5.42%, remove comes top in the various types of debt-based. The same period, net debt and mixed secondary bonds average weighted base rate respectively and 3.84%5% and, as such, level debt-based offerings are in full swing. Since the beginning of this year, has set up a level of debt based on 18, including GF gather credit first raised reached $ 4.5 billion. In addition, 3 debt level base to be set up. Level debt-based walking of the fund securities journal weekly WIND information data and statistics show that as of May 22, is currently lockedIssue of new shares to be allocated 150 funds bring a floating profit of nearly $ 900 million. Among them, Tim Lee, public bank ICBC Credit Suisse Credit Suisse, enhanced return on income and vulnerable side to enhance float full of the most three funds, up to $ 79.84 million, respectively $ 56.12 million and $, three quarter-net asset value of the Fund, 2.8% and 1.19%. It is worth noting thatIs that the three funds without exception as a mixed level of debt-based. As of May 22, ICBC Credit Suisse credit Tim Lee is as high as the rate of return of A/B and 8.6%, similar ranking fourth and fifth. ICBC Credit Suisse of enhancing income and vulnerable side to enhance returns also are super 5.5%, one-third before the ranking of similar funds. New contributions to the performance speaks for itself.Former State Director of fixed-income securities daily explains that as the level of debt-based, on our scale is not pure fried new, but rather as a tool for asset allocation bullish on the stock market, gain interest proceeds of such assets. When market conditions are bad, we will also reduce or avoid new shares. As the level of debt-based, we did not own shares of the time limit, buyBullish on new shares held by a phase. In addition, from Victoria in the South (202,102, funds) increased as the level of debt-based new revenue this year as well, since the beginning of this year the Fund A/C returns and 9%, similar ranked 2nd and 3rd place. In this regard, Chief policy analyst Yang Delong in the South told the fund securities journal weekly press conferenceInterview, Fund, we judge the decision directed is devoted to new banking products, financial companies and trusts, you can see some of the new frozen funds after trillions of dollars. These are not funds, although some fund special account dedicated to play new, but accounts with total assets is not large. He stressed that the Bank financing productsNo professional research staff, new goal is to get one or two level difference, but funds are professional researchers, with full participation with the support of the study of new shares under the net purchase. In this regard, Research Commissioner has recognized the aforesaid. However, worries are inevitable. After all, it was because new investment bond yields higher. As a complement to income, debt level baseIn level one or two markets. Is inevitable, if such a decision specific to the level of debt-based, then it may only buy convertible bonds in the future, rather than active buying stocks. Southern analysis of the members of the Fund's fixed-income Department, told reporters, according to regulations, Bond Fund can hold 20% shares. In addition, play new level debt-based, is approved by the Commission。 Former Director of Research Department of the fixed expression, is only a guide, also not clear which combinations cannot play new. Management should also be cautious, if this requirement eventually restraining the new shares issued in the three high, we are also very welcome. Southern members of the Fund's fixed-income Department, currently playing rhythm as it was new, major decided to implement stringent, See how underwriters have defined. A Beijing brokerage investment banker told the securities funds weekly reporter said in an interview with the daily, for the interpretation of the decision, still depends on specific provisions of the securities industry association on the request object. (Editors: Lu Yang)
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