Chapter 1152: The Storm is Coming
On the eve of Girls' Day. Pen "Fun" Pavilion www.biquge.info
The Nasdaq index broke through the 5,000-point mark intraday.
Although by the end of the day, it was not able to stand above 5,000 points, and even fell by dozens of points due to the suppression of profit-taking, but Wall Street was full of joy.
Although Yahu and Amazon, the representatives of Internet technology stocks, are falling, this does not prevent investors who have made a lot of money in the financial market from celebrating the breakthrough of this key point.
If someone laughs, then there will naturally be worries.
For the New York fund house, which began to go all out in early February, and the Bay Side Securities, which declared it fully bearish at the end of January, every day is an ordeal.
The continued decline in the net value of the funds offered by the New York Fund Company has made customers who have purchased shares of the New York Fund Company through Jiamei Bank strange, confused, and finally angry.
The market is so good, it is ridiculous that the net value of the funds held by investors will decrease for more than a month!
As a result, many American financial media began to accuse and speculate on the New York Fund and the Jiamei Bank, and even some financial experts publicly declared that the New York Fund Company supported the Jiamei Bank to raise huge sums of money to enter the real estate mortgage market, which was a big mistake and would pay a heavy price!
After sending several fund holders out of the conference room, Liu Meijia couldn't help but dial his mobile phone when she returned to her office and asked what to do.
Fu Justice was puzzled. "What to do? What to do?"
"The net value of the New York fund has not risen but fallen, and it has been like this for 30 consecutive trading days, although the current loss is not large, but such a strange net worth reduction has made some high-net-worth customers very dissatisfied, and even hope to be able to redeem it in advance to avoid greater losses......"
Fu Zhengyi laughed. "Yes, how many customers are asking for early redemption, and how much money is involved?"
"It's about 8 percent of the total number of customers, but the size of the capital is about 16 percent of the total......"
"Hmm, are they all high-end customers?"
"Yes, they are all customers with more than 700 perfect yuan in funds," Liu Meijia smiled bitterly. "And it's mostly elderly. The stability of these customers should be the highest, but because there is a Mars Fund Company behind the scenes, these customers want to redeem in advance and transfer the funds to Mars Fund Company to operate......"
After listening to her talk about the situation, Fu Zhengyi knew that the customers selected by the Ma Fund Company were all members of an elite club, and the Ma Fund Company promised the customers that no matter whether the market fell or rose, they could make money, and only when the financial market did not fluctuate, there was no way to make money, otherwise the Ma Fund would be able to provide customers with stable and high returns.
"Mars's fund company's profit ranking last year was about the top 50 in the United States, but because its head Bernard once served as the chairman of the board of directors of the NASDAQ, and was also the drafter of a number of securities regulations in the United States, the initiator of a number of securities regulatory regulations, and was the first batch of American companies in the United States to enter the London market and conduct transactions……”
Fu Zhengyi already knew which company it was, so he laughed immediately. "I remember that there are strict rules on the shares and redemptions of New York fund companies offered through Jiamei Bank, and only under very special circumstances can customers give up a certain amount of income can they be redeemed in advance, right?"
"Yes, but many customers do not hesitate to bear this part of the cost in order to avoid more losses!"
"That's good," Fu said. "Agree to their demands, but tell these people that early redemption would mean tearing up the original agreement between the two parties, so they can't buy the New York company's funds anymore!"
Liu Meijia hoped that he could find a way to keep these customers, but he was ready to kick these customers out permanently, and he couldn't help but be stunned. "Ahh
Since you don't want to trust the professionalism of the New York fund company and don't want to bear the short-term fluctuation of net worth, who such a customer is willing to invest their funds in, then invest it in!"
Liu Meijia became more and more speechless, and thought for a moment before asking, if the customers agree to redeem, will there be a problem with the funds of the New York fund company?
"Probably not? I remember that the cash reserves of the New York company were still $16 billion in the middle of the month, and as long as 60 percent of the customers did not apply for redemption, then there shouldn't be any problems......
Liu Meijia was shocked. "What? The New York Fund has so many cash reserves? Doesn't that mean that the current positions and losses are already extremely serious?"
"The current position seems to have a loss of 30%, but they are all forward contracts, and all the losses are just paper losses before delivery, no problem......
Liu Meijia was stunned, hung up the phone, and the more she thought about it, the more frightened she became, and finally called old Tony in New York, told him about the situation, and asked if the current loss was really as he said, just a book loss?
"Liu, don't worry, unless there is a sudden redemption of more shares, you can do whatever he says!"
Knowing that old Tony's tone was very tight, Liu Meijia couldn't help but sigh. "Tony, I'm afraid that once this opening, more customers will apply for redemption......"
"Those who want to redeem have a reason. Even if there is no Mars fund company, there will be other fund companies that will come out to disrupt the situation. Investors who believe in the company's strength and ability don't need us to explain anything, and investors who don't believe in the company's strength and ability will explain in vain!"
Even old Tony said so, so what else can be done?
Liu Meijia looked at the data on the computer screen in a daze, and after a while, she picked up the phone on the table and asked the head of the customer department to inform that those customers who want to redeem as soon as possible can redeem, but once they redeem in advance, they will not only need to bear the relevant costs, but also lose the qualification to purchase Jiamei Bank's investment and wealth management products.
Jiamei Bank's notice naturally made some customers who saw their wealth shrinking ecstatic, anyway, there are so many fund companies to choose from, and it is not only New York fund companies that can make money, so these customers who are eager to switch to other fund companies, where do they care if they have lost what qualifications to buy?