Chapter 181 Structural Adjustments

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"Is there any idle money on the books of Fund 1 now?"

Looking at Guo Shouyun's eyes, Paul Ritter, who is in charge of managing Fund No. 1, hurriedly said: "There are still 24.8 million US dollars!"

"Don't use this money for now. Soon LinkedIn will launch a round of financing, and this money will be invested in it!" Guo Shouyun nodded and said.

In this regard, both Michael Moretz and Paul Ritter showed joy. LinkedIn is now hot in Silicon Valley investment circles. Being able to invest in it is very helpful to enhance the visibility and credibility of Phoenix Capital. Of course, this is also Guo Shouyun's own original intention.

"In addition, after Netflix goes public, I will withdraw the funds obtained. But don't worry, I'll give it to you when I'm done. ”

"Yes, boss!"

Hearing that Guo Shouyun did not withdraw the funds directly, Paul Ritter breathed a sigh of relief. If the size of the fund is reduced, his dividends will be reduced accordingly.

"That's right, Michael. I've read the report you gave me. I'll talk to you alone in a moment. ”

Michael Moritz nodded.

Next, it was naturally William Zhang's turn to make a report. Because Guo Shouyun had just heard it once two weeks ago, this time it has not changed much from the last time. In addition to Phoenix Trust, the largest fund under Phoenix Fund is 'Phoenix Currency B', because of the security of the monetary fund, Guo Shouyun put the revenue of Matrix Pictures, the revenue of Matrix Cinemas, the revenue of Matrix Games, and the precipitation funds of PayPal, LinkedIn and Google, and the revenue of almost all companies under Matrix Business Group.

In any case, they will not lose money by investing in short-term treasury bonds and short-term bonds of large companies, which have a very high safety factor and good liquidity. And the average yield of 4.8% is much more cost-effective than comparable in banks.

Because of this, the capital scale of Phoenix Money B has accumulated to 689 million US dollars, of which 80% are the liquid assets of Guo Shouyun's enterprises.

After listening to William Zhang's report, Guo Shouyun thought briefly for a moment, nodded and then asked, "How is the matter with what I explained to you?"

"Based on your requirements, we have selected three companies that can greatly complement our business!" "After putting the information in front of Guo Shouyun, William Zhang continued, "They are Oppenheimer, ISHARES, and Quansheng Asset Management. ”

"Oppenheimer Corporation, full name: Oppenheimer Holding Company. Founded in 1881, it is a veteran financial company on Wall Street, and currently owns Oppenheimer Management Company, Oppenheimer Capital Company and Oppenheimer Company, engaged in a series of financial services such as investment banking, financial advisory, wealth management, asset management, and trust. According to their latest data, in 2000 they had $25.3 billion in assets under management, $1.019 billion in revenue, and $25.1 million in net profit. It is estimated that the M&A investment will be between 4~550 million US dollars. ”

ISHARES, founded in 1989, is engaged in trusts, mutual funds and asset management. At present, it has 27 funds of different categories, with assets under management of US$56.28 billion, operating income of US$836 million and net income of US$79.34 million in 2000. It is estimated that the investment in mergers and acquisitions will be 750 million ~ 900 million US dollars. ”

"Heyday Asset Management, founded in 1924, is the world's oldest asset management company and is known as the pioneer of 'mutual funds'. At present, it has 38 funds under management, with assets under management reaching 90 billion US dollars. In 2000, the total revenue was 398 million US dollars, the net profit was 117 million US dollars, and the expected investment in mergers and acquisitions was 12~1.8 billion US dollars. ”

While listening to William Zhang's words and flipping through the documents in his hand, Guo Shouyun's brain was also running at a high speed. Since it has been decided that the financial industry is the focus of future development, it is natural to be willing to invest. And the best way to grow is through mergers and acquisitions.

"Which one do you think is the most suitable for us?" Guo Shouyun said after putting down the information.

"ISHARES... First of all, Oppenheimer's business is too complex, especially investment banking and financial advisory, which is not an industry that we will enter in the short term. In addition, although Quansheng Asset Management is a good fit for our business, the capital under management is too large, and it is too difficult to integrate with our current size. Therefore, the most suitable is ISHARES, which not only fits our business system, but also does not invest too much. The important thing is that ISHARES won't be too difficult to acquire!"

"Oh?"

"ISHARES' founder, Carol Rusmi, is retiring. I think as long as we come up with a suitable price, he will consider it!"

Guo Shouyun nodded clearly, and after looking at the three documents in his hand, "Put them here first, and I'll give you the answer in a week." ”

When it comes to huge mergers and acquisitions, he also has to investigate through his own channels before making a decision.

"Understood!"

Guo Shouyun put his fingers crossed on the table, and his more and more majestic gaze quickly swept past everyone.

"I agree with the operation of the Phoenix Fund in the next three years, but I have some opinions on the investment direction of each fund, and I hope you can do it. … First of all, the Phoenix High-tech Industry Equity Fund!"

As its fund manager, Kali Welch's expression instantly became solemn.

"In the next three years, Apple, ARM, Oracle, RIM, Qualcomm, AMD, Seagate Technology, Nvidia, long positions, and the investment ratio of each company cannot be less than 6%! ”

"Boss, Apple and Qualcomm aren't doing well!" Kari Welch hesitated for a moment, but still firmly put forward his idea.

"Carrie, no stock is long-term upward. A brief decline does not mean that they do not have a glorious future. ”

Looking at Guo Shouyun's determined expression, Cari Welch didn't say anything more.

“… Phoenix Internet Mixed Fund!"

Laurie Friebo quickly met Guo Shouyun's gaze.

"Amazon, eBay, Yahoo, Netflix, Cisco, Verizon, ATT, long positions!

Compared to Cari Welch, Laurie Live, as a fund manager, nodded rather sloppily.

“… Phoenix Restaurant Equity Fund!"

Zhou Wei subconsciously straightened his waist, as a newcomer to Phoenix Fund Company, managing a Chinese fund manager who had just been established for less than a month and had a capital of only $15 million. He has the most shallow roots, so he wants to try to behave better in front of his boss.

"Coca-Cola, Starbucks, Parkson China, Panda Fast Food, McDonald's, Long Warehouse. The proportion of investment must not be less than 8%!"

"Yes!"

The latter money market funds and index funds, Guo Shouyun skipped not to mention. Index funds are passively managed funds, and the human factor is too low, basically rising and falling with the good or bad of the market. As for money market funds, the float is too small, the safety factor is high, and the fees for key subscriptions and redemptions are too low.

"Michael, Phoenix Capital is not just VC, you can also invest in the companies I just mentioned. But it must be a long position. ”

"Yes, BSSS!"

"The next thing is about the adjustment of the company's structure!" After a pause, seeing that everyone's eyes were focused, "Although Phoenix Capital, Phoenix Fund, Phoenix Trust, including Thunder Fund, are all subsidiaries of Phoenix Holding Company. However, there has been a lack of a headquarters structure to coordinate the resources of the various companies. I'm bringing you together this time to solve this problem. … After careful consideration, I decided that I would be the chairman and CEO of Phoenix Holdings, and would be directly responsible for the management of Thunder Private Equity, William Chang would be the COO of Phoenix and be in charge of the management of Phoenix Fund on an interim basis, Michael Moretz would be the co-CEO of Phoenix and be responsible for the management of Phoenix Capital, and Phoenix Trust, because there was no suitable candidate, and I would be able to take care of it for the time being. ”

In addition, Patti Sellers, the former CFO of Phoenix Capital, was promoted to the chief financial officer of Phoenix Holdings. Former Phoenix Fund cho Tim Smith, served as Chief Human Resources Officer of Phoenix Holdings. "In addition, Mr. David Reinessi, a new member of the company, will serve as the chief risk officer of Phoenix Holdings. ”

A balding middle-aged man with gold-rimmed glasses and a serious expression stood up and greeted everyone. This elite graduate of Harvard Business School with 15 years of financial experience was recruited from First Boston Bank.