PS: Thank you very much!

On Monday afternoon, January 29, Andrew received a call from Hamdan, the second son of the Emirate of Dubai. After a polite exchange between the two, they got to the point.

Hamdan's Dubai Municipal Council set up a construction investment company last year with the aim of making the most of the government's annual construction appropriation funds.

Since it is an appropriation fund within the year, the investment period of the fund is roughly controlled in about half a year. So it can only be a choice, a short-term reliable investment project.

Short-term reliable investment projects mean that the return on investment is relatively low.

This time, Hamdan found Andrew, and it was also from his subordinates, and he happened to hear that the employee benefits of the Middle East Investment Bank and Pan Asia Construction turned out to be fund purchases that were exempted from subscription and redemption fees. Moreover, the enthusiasm of employees to buy funds is quite enthusiastic.

This information obtained by chance made Hamdan curious, and asked his subordinates to find out the ins and outs of this matter.

After a week of careful inquiry, the subordinates squirmed. It is generally clear that the so-called employee benefits are the shares of open-end investment funds that employees actively buy. As for why this open-ended investment fund is so popular.

It turned out to be due to the recognition of Andrew's ability to invest. During the Christmas and New Year's Day holidays, there was even more circulation in Hong Kong's investor circles that HSBC leaked news about Andrew's investment profit of more than 50% in two months.

Andrew made a profit of more than 50% on his investment in two months. This message intrigued Hamdan.

Hamdan complained about the low rate of return on investment in construction investment companies. Although the investment channels are stable, last year's investment income was not very eye-catching, and the $300 million construction allocation used the investment, and only got a mere $8 million investment income.

Now, with Andrew's side, such a good choice, Hamdan is moved to take action. The investment action of the construction investment company was urgently stopped, and the follow-up notice was awaited. Then he contacted Andrew to discuss the entrusted investment.

The cycle of the construction funds entrusted by Hamdan is relatively short, the safety requirements are high, and the investment income is more important, so the requirements of the three perfections are a very big problem for the entrusted party.

Andrew also said frankly to his senior Hamdan, your entrusted investment, so that the three are the best requirements. It is estimated that few formal investment institutions will accept and guarantee the rate of return.

In this way, we will determine your three conditions one by one, the minimum guarantee conditions.

Andrew: What is the amount of money entrusted to invest this time, what is the maximum investment period, and what is the time period?

Hamdan: The amount of money entrusted for this investment is $500 million, from February to October, a total of eight months.

Andrew: What is the acceptable minimum rate of return on this entrusted investment?

Hamdan: The rate of return on this entrusted investment, the minimum is 5%.

Andrew: The issue of the security of the funds entrusted to the investment. In fact, it is mainly reflected in three aspects: 1. The safety of the invested funds themselves. 2. Security of investment funds and use. 3. Investment projects, transaction transparency.

In view of this, my suggestion is that the incoming and outgoing construction funds of the entrusted investment can be managed by your construction investment company. Set up a separate investment account, and we will only take care of the trading operations.

As for the amount of funds entrusted to invest, the time period of the investment cycle, and the condition guarantee of the minimum investment rate of return of 5% can be written into the contract terms of the entrusted investment.

However, as a commercial act, entrusted investment must also be specified in the distribution of remuneration. How to divide the part of the investment income of more than 5%, and what advice do you have?

Hamdan: For the part of the investment income exceeding 5%, according to the practice of private equity funds, the fund will first withdraw 20% of the management fee. The remaining 80% is divided in half by 55, how?

Andrew: Yes. That's the general condition. You can send specific personnel to Hong Kong to sign the agreement and contract for entrusted investment. In addition, this time, our investment direction is the futures gold project in New York. On your side, you need to arrange the personnel who will go to the United States to manage the fund account.

Hamdan: Okay. The day after tomorrow, I will arrange for the personnel who signed the entrusted investment agreement and the personnel who went to the United States to manage the capital account to come to Hong Kong to meet you. Thank you, Andrew, and I'll keep your friendship in my heart.

After a polite greeting with Hamdan, he ended the discussion call for the entrusted investment.

Andrew pondered: Since he decided to accept Hamdan's entrusted investment. Then in a few days, I will have to go to the United States again. It just so happens that on the side of Shengli Securities, the gold No. 1 investment fund that Henry is presiding over and raising funds to subscribe to can also build a position first.

On the eve of the day's work, Henry received a call from Andrew. On the phone, Andrew asked about the subscription of the Gold No. 1 Investment Fund.

Henry excitedly reported to Andrew: "The fundraising subscription of the Gold No. 1 Investment Fund is going well. In the past three days, a total of 560 million Hong Kong dollars of fund shares have been offered.

Peter's plan to "follow the trend" has already begun to blow the wind, and the effect is good. It is expected that this week, the fund shares can reach a scale of 1 billion Hong Kong dollars. Predetermined goals can be accomplished ahead of schedule.

Next, it's time to consider opening a position in advance. As it happens, when it comes to investment, you are an expert. It's up to you to consider how to invest in the portfolio. ”

"Well, Henry, the subscription of this Gold No. 1 investment fund has been a success. Not only can we complete the fundraising subscription of the projected fund, but also start the signboard of our Victory Securities. Henry, you did a very good job. It is very conducive to the subsequent listing and subscription of Shengli Securities.

As for the issue of the early opening of positions in the Gold No. 1 Investment Fund. I'll think about it and let you know in the next few days. Andrew complimented Henry on the phone.

On January 31, Hamdan arranged for the signing of the entrusted investment agreement contract and the personnel who went to the United States to manage the capital account, came to Hong Kong.

Since the two big bosses have roughly determined the direction. Therefore, the formal signing of the entrusted investment agreement contract was completed quickly and smoothly. Two people who went to the United States to manage the fund account were left behind, and the others, without delay, returned to Dubai on the same day.

The fundraising subscription of Gold No. 1 Investment Fund was also completed as scheduled this week. After the statistics are completed, it will enter the closed period of opening positions of investment funds.

In 8 days, 1 billion Hong Kong dollars of fund shares were successfully offered. This is also a new record in the Hong Kong investment community.

In the 8 consecutive days of fundraising and subscription activities, the subscription scene arranged by Shengli Securities was tense and orderly, and the scene was lively. Driven by sufficient interests, the media also tried their best to cooperate and continue to report on all aspects, so that the general public in Hong Kong also saw the grand occasion of this fund offering.

Victory Securities, this signboard, is also well-known to the general public in Hong Kong, and the brand effect is deeply rooted in the hearts of the people.

In the past few days, Andrew has made plans for this investment in the United States. Considering that Gold No. 1 Investment Fund is an open-end fund, it will face the pressure of redemption at any time after the end of the closed period.

Therefore, for the sake of insurance, 20% of the subscription funds of the Gold No. 1 Investment Fund should be kept in the current savings account in Hong Kong. The funds brought to the United States to open a position should also leave sufficient 2% supplementary margin.

As for the $500 million entrusted investment from Hamdan's side, Andrew has arranged for them to rush to New York to deal with preliminary preparations such as opening a futures account.

On Monday evening, February 5, 1976, Andrew rushed to New York again.

At noon the next day, Andrew arrived in New York. After a short break, I contacted the operators of Group 2 and asked them to find the recent information on gold futures. In your hotel room, learn about the recent price movement of gold futures.

The recent price trend of gold futures, following the release of the Federal Reserve's economic report on January 22, began to rise slightly, reaching as high as $138.5 an ounce.

After that, after a slight retreat to the price of $137.5 per ounce, it was supported by many parties. So far, it has maintained a narrow range of up and down at $137.5 / ounce, and yesterday's closing price was $137.6 / ounce.

Combined with the memories of the previous life, and then judge according to your own analysis. Andrew believes that the current price of gold futures is a relatively safe price. There is not much room for upward rushing, and 2 groups of operators can be arranged to open positions tomorrow.