Tianhong Fund was established in 2004 with a registered capital of 100 million yuan. Pen, fun, pavilion www. biquge。 Within 6 years since its establishment, the scale of net assets has not changed much, and the cumulative net assets have barely increased to 110 million yuan except for dividends. The scale of customer capital under management has reached 2 billion yuan, and such a small fund can only be regarded as a small public fund.

Compared with large fund companies such as China Asset Management, Harvest Fund, Wells Fargo Fund, and Penghua Fund, TJ-based Tianhong Fund is currently only a marginal small public offering that is barely alive but does not have much oil and water. It is larger than most private offerings, but its market share is negligible compared to those large-scale public offerings with more than 100 billion yuan of capital under management.

Of course, the first-class fund companies in the industry are generally headquartered in Beijing, Shanghai and Shenzhen. Either in the capital or in a city with a financial center.

Tianhong Fund is a fund established locally in TJ City, although there are also branches in the capital, but after all, the foundation is still relatively weak, and there is no strong resource advantage, so it is naturally difficult to achieve rapid development.

From a purely financial investment point of view, buying such a company is not cost-effective in terms of investment. After all, over the years, the company's asset scale has increased almost at a turtle rate, and there is not much difference from the rate of return obtained by depositing money in the bank and eating interest.

But for small partners, just need a fund license, regardless of the ability of its team and how large the scale is, it can be ignored.

Anyway, after the acquisition of the partner, the users and funds in the partner's wallet will be imported to the fund, so that the scale of users and the scale of capital under management can become one of the top public offering giants overnight!

In order to obtain the fund license as soon as possible, the partner company began to negotiate with several major shareholders of Tianhong Fund to complete the equity acquisition of Tianhong Fund as soon as possible.

In fact, the securities industry and the fund industry have long been open to private enterprises. But in reality, it is still very difficult to apply for a license. The difficulty is roughly the same as listing on the A-share market. A lot of quality companies that are fully qualified to go public. Because of bad luck, they often queue for more than ten years, and it is still difficult to realize the dream of listing. It can be seen from this that theoretically open markets. As long as there are complicated approval procedures, there is still a certain amount of lander if you want to enter.

With the strength of the partner company, it may be more economical to apply for a fund license by yourself, but when the approval is completed, other competitors may have already made the product in advance.

Therefore. The acquisition of a licensed fund company is the only way to get the product out of the market faster and ahead of competitors.

Only after obtaining the license of public funds can we issue money market fund products for the public.

Only then can the partner wallet be assured to import the cash pre-deposited by platform users into the money market fund product, so as to complete the upgrade of the partner wallet.

Other high-risk products are not necessary for small partners' wallets, but the function of money market funds has become a lot of powerful e-commerce websites in the future. and standard configuration of third-party payment platforms. If there is no interest on the cash deposited in the account, how can the money in the user's bank account be transferred to the third-party payment platform?

Once the user deposits a large amount of cash to the third-party payment platform, user stickiness is formed.

In the past, users could only transfer money from the bank to the third-party payment platform when making purchases. In this way, the third-party payment platform does not have enough competitive advantage over the bank.

However, if the function of the money market fund becomes the basic function of the partner's wallet, the cash deposited by the user. Interest is accrued on a daily basis. Then, it is bound to make the scale of funds deposited in the wallet of the partner show a wave of growth!

Money market funds must be products published by their own companies. Because, in cooperation with other fund companies. Yes, there are risks. Suppose that the small partner wallet imports hundreds of billions of user deposits under its own into the money market fund products. Suddenly, before that, the partner turned his face and said that he would end the cooperation with the partner's wallet. In this way, it will inevitably hurt the vitality of the small partner financial platform.

After all. At present, the scale of domestic money market funds is generally not very large, and the largest money market funds manage billions of yuan in cash.

If a small partner's wallet imports its own users and deposits to a money market fund, it will soon be able to push the scale of the product to hundreds of billions of yuan.

Hundreds of billions of fund products will definitely be popular, and most of the partners may take the opportunity to snatch users away.

If the money market fund product launched by the partner's company's own wallet, the user was actually snatched away by the fund company, which will shake the foundation of the partner's system!

……

"Guys, it's tiring to talk to you about business, you're not really a businessman at all!" Wang Qinian said at the negotiation meeting.

"How can our state-owned enterprises compare with your private enterprises. Your boss can decide, the chairman of our company doesn't count, but also the consent of a bunch of mothers-in-law, aunts, three aunts and six aunts, if a fairy is in trouble, the matter will be yellow! A director of Tianhong Fund said helplessly.

"We basically agree on the money, but the problem is that now someone above has said that they want to retain a certain amount of equity in Tianhong Fund." Another director said.

The major directors naturally represent the interests of the major shareholders. Although Tianhong Fund was initiated and established by a number of enterprises, they are all state-owned enterprises. A number of state-owned enterprises are shareholders of Tianhong Fund, so they are naturally involved in the competent departments and some officials behind many state-owned enterprises.

These shareholders are all state-owned enterprises, and they are far less interested in making a fortune by transferring their shares than private business owners. In the acquisition process, most of the energy is spent on dealing with bureaucracy.

Wang Qinian made some promises, such as how many billions of dollars of investment would be made in a certain place to make political achievements for some officials, which gradually made some bigwigs loosen.

If it is a private enterprise, there is no trouble, not to mention that the small partner company is willing to pay ten times the sky-high price, even if it is two or three times the price, it is possible to transfer the equity over the fart.

After all, the profits of the fund industry are not as high as imagined, and the top fund companies in the industry may only make two or three billion yuan of profits a year.

What, the bull market makes hundreds of billions, trillions? That's the client's money, not the profit of the fund company. Fund companies can only earn management fees, as well as customer subscription and redemption fees, which is the main profit of public funds.

That is to say, no matter how much money the fund product makes, it will be for the public fund company itself. It doesn't make much sense. Only the scale of the fund under management, as well as the frequent subscription and redemption of customers, pay a large number of handling fees. In this way, the public offering can make money.

There are only a few private equity funds. Tell customers that they must get a commission to make money.

According to the scale of Tianhong Fund, more than 30 million yuan of management fees and handling fees are charged a year, and only a few million yuan of net profit can be left after excluding the cost of expenses.

Such a fund with very little profit and limited resources. The shareholders behind it are all state-owned enterprises, so it's a bit of a pain. In addition to constantly proposing unreasonable prices, and even ...... Some shareholders said that they would let the partner company participate in the shares, or even take control, but they asked to retain half of the shares.

This request is categorically unacceptable to Wang Qinian!

Keeping half of the equity?

The little partner must be fully controlled!

"1.5 billion yuan, subscribe for 90% of the equity of Tianhong Fund! You can keep a tenth of the equity and share in the subsequent growth. But if we don't have a small partner, we will naturally not inject resources. Then Tianhong Fund is still lifeless and will not make any improvement! Only what injects resources will produce qualitative changes! Wang Qinian lost patience and said, "If you are sincere, I hope to complete the equity delivery as soon as possible." If the transaction is not completed by the end of this year, then we will consider acquiring other fund companies for the sake of efficiency! ”

"Okay. The price is already very sincere. However, this matter needs to be reported to ......," several major shareholders of Tianhong Fund said.

They have long been very satisfied with the price, and what they are currently struggling with is only the conservative equity ratio of the shareholders in this batch.

The major sponsoring shareholders of Tianhong Fund are all state-owned enterprises, and if it is not a small partner company, this price is sky-high. If you transfer equity casually, you will be suspected of losing state-owned assets.

Therefore, Wang Qinian generally does not buy state-owned assets, and if he really wants to buy them, he will definitely not lower the price, but will give a sky-high price.

In this way, it will be possible to avoid future opponents. Pick up the airport and pour dirty water, saying something about embezzlement of state-owned assets and the like.

As a matter of fact, after the reform and opening up in China, there are indeed quite a few wealthy people who have relied on lowering the quotation of state-owned assets and purchasing state-owned assets cheaply to achieve the goal of getting rich.

These people made their fortunes quickly, but they left behind the original sin!

After all, what they did was actually violating the law and violating the law, but it was a policy that turned a blind eye and only pursued GDP, not some shady scenes behind the scenes. However, Wang Qinian knows that it will not be long before the next boss comes to power, and he will be resolute in liquidating the old accounts, and there is no blame for the past, but a strict investigation to the end.

Therefore, this kind of mistake should not be made at all, and small partners would rather buy assets at a high price than buy them at a low price when they make transactions with state-owned enterprises.

In addition, the speeches of some high-ranking and powerful officials cannot be completely trusted, not because they do not trust their character, but because the people in the officialdom go to the court, and the policies of each term are different. This term speaks as a word, and the big guy who can cover it, who knows if the next one can cover it?!

Therefore, in recent years, small partner companies have paid more attention to corporate governance and innovation, and rarely got involved in politics. Especially the issue of clans between high-level factions.

Wang Qinian met all the bigwigs and said, who supports whom in the central government, I don't stand in line! The advantage of not taking sides is naturally the loss of a considerable part of political resources and benefits, but Wang Qinian, as a reborn, knows more useful things than the benefits given above.

The tenfold premium acquisition still satisfied the shareholders of Tianhong Fund's state-owned enterprises. The matter was reported to the above, approved by the State Council, and the special case was handled, and in mid-December 2010, the transfer of the equity of the fund company was completed.

In this way, the partner company indirectly controls the photo of the public fund through Tianhong Fund, and has the qualification to issue various fund products including money market funds.

Next, the small partner company began to brew, at the beginning of 2011, the small partner wallet was upgraded, launched - small partner Yu Bao!

That's right, Wang Qinian cut off Ali's Yue Bao later!

Now Yu Bao, a well-known product, is owned by a small partner! (To be continued.) )