Another fund announced that the issuance failed!
Shenwan Lingxin Fund announced on July 6 that its Shenwan Lingxin Jiale two-year holding period hybrid fund failed to meet the fund filing conditions stipulated in the "Fund Contract", so the "Fund Contract" could not take effect.
With the market volatility, 17 funds have failed to raise during the year.
The product offering of Shenwan Lingxin Fund failed
On July 6, Shenwan Lingxin Fund issued an announcement stating that its two-year holding period hybrid fund, Shenwan Lingxin Jiale, expired on July 5, 2022, and failed to meet the fund filing conditions stipulated in the Fund Contract. The Fund Contract cannot take effect.
Shenwanling Xinjiale’s two-year holding is the second fund that failed to be raised in July, and the sixth fund with a “holding period” that failed to be issued during the year.
Shenwanling Xinjiale has been held for two years as a partial stock hybrid fund. The proportion of the fund's investment portfolio is as follows: the investment in stocks and depositary receipts accounts for 60%-95% of the fund's assets, and the proportion of investment in the underlying stocks of Hong Kong Stock Connect does not exceed all the stock assets. 50%.
Shenwanling Xinjiale’s two-year holding began on April 6, 2022, and the original fundraising end date was April 25, 2022.
The fund made an announcement on April 20 to extend the offering period.According to the announcement, after negotiation between the fund manager Shenwanlingxin Fund and the fund custodian Bank of Communications, it was decided to extend the fundraising time to July 5, 2022, that is, the fund subscription deadline was changed from April 25, 2022 to July 5, 2022.
Flush iFinD data shows that as of July 6, Shenwan Lingxin Fund managed a total of 68 funds (A/C shares combined), with a total net asset value of 73.386 billion yuan.Among them, there are 67 non-monetary funds with a total net asset value of 65.822 billion yuan.
Shenwan Lingxin Fund was established in January 2004 with a registered capital of 150 million yuan.From the perspective of equity structure, the fund company is a securities company fund company controlled by Shenwan Hongyuan Securities.Shenwan Hongyuan Securities holds a 67% stake, and Mitsubishi UFJ Trust Bank Co., Ltd. holds a 33% stake.
In 2021, Shenwan Lingxin Fund will achieve an operating income of 662 million yuan, an operating profit of 170 million yuan, and a net profit of 125 million yuan.
"On the one hand, the failure of the fund issuance is due to the strong pessimism in the market, and the investors' wait-and-see attitude is obvious, and they are more cautious about investing in equity funds. On the other hand, many of the funds for new fund subscriptions come from the redemption of old funds. At present, many old funds are trapped and affect the subscription funds. Supply." Liang Xiaoman, chief researcher of Ruirong Asset, analyzed the reporter of "International Finance News".
17 funds failed to raise during the year
With the market volatility, 17 funds have failed to raise during the year.
In the first six days of July, China Universal Active Investment Index preferred one-year fixed-opening stocks (FOF-LOF), and Shenwanling Xinjiale held 2 funds for two years and failed to raise.
Among them, China Universal Active Investment Index Preferred One-Year Stocks (FOF-LOF) is also the first FOF-LOF fund that failed to raise.
FOF-LOF is an innovative category of FOF funds. Its biggest feature is that it combines the advantages of FOF and LOF products.The first batch of 5 FOF-LOF products will be officially approved in September 2021.
The prospectus shows that China Universal's Active Investment Index is preferably set for one year and mainly invests in ETFs. The proportion of its investment in stock ETFs is not less than 80% of the fund assets, and the proportion of investment in the underlying stocks of Hong Kong Stock Connect does not exceed the stock assets. 50%.
In June, a total of four funds, namely Sinolink Growth Leading Mixed, Changxin Minli Income One-Year Hold, Ping An Xinyuan Mixed, and Zhongrong Jingyuan Mixed Fund, failed in issuance.
In May, only Wells Fargo Steady Hengyuan held this fund for three years and failed to raise.In April, Changjiang Fengyi held bonds for 6 months, Tongtai's independent innovation hybrid, and Jinyuan Shun'an Hongquan pure bond for 3 months failed to raise three funds.Among them, Tongtai Independent Innovation Hybrid is the first active equity fund that failed to issue this year.
In March, a total of two funds, the AH Price Choice ETF of China Securities Bank and the Chuangjin Hexin Choice Return Mixed Fund, could not be established.
February was an intensive period for fund raising failures, and a total of 5 funds could not be registered and established.Both Baoying Fund and Debon Fund announced on February 26 that their Baoying Hongxiang Bond and Debon Ruifeng Bond Fund contracts could not take effect.In addition, Tongtai Tongxian Hybrid, BOC Securities Guozheng New Energy Vehicle Battery ETF, and Ping An China Securities Hong Kong Stock Connect Consumer-themed ETF all announced their failure to raise in February.
In addition to failed funds, some funds have extended their fundraising period this year.Flush iFinD data shows that according to the statistics of the raised date after the change, as of July 6, 239 funds (A/C shares are calculated separately) have extended the raising period during the year.
Among them, many funds such as Changsheng Ingenuity Research, Huaxia Low Carbon Economy One-Year Hold, Huatai Pineapple Ingenuity Selection Mix, and Baijia Parkson Mix have all started to be issued in the past two months, and they have extended their fundraising period to varying degrees.
