With the advent of the era of mixed operation of large asset management, the license of public fund has become a cake for all kinds of capital to compete.In the nearly four years since the license of public fund was released, the business of public fund of Asset Management Department of securities companies has also developed very rapidly, reaching 100 billion yuan.
Public offering scale of Asset Management Department of securities companies
Over 98 billion
According to the statistics of Haitong Securities, by the end of 2016, there were 122 domestic institutions with the qualification of public fund management business, including 108 fund companies, 12 securities companies and 2 insurance companies.
Among them, There are two modes for securities companies to participate in the public fund business.One is the participation of asset management companies, including six institutions:Dongzheng asset management, Zheshang asset management, Bohai Huijin asset management, CAITONG asset management, Changjiang asset management and Huatai asset management.The other is the direct participation of securities companies in the public fund business, including Huarong securities, Shanxi securities, Guodu securities, Dongxing securities, Gaohua securities and Huatai Securities According to the business classification of BOCI Securities, the public funds directly issued by securities companies also belong to the asset management business of securities companies.
According to wind statistics, as of March 28, 2017, among the 12 securities companies or securities company asset management companies with the qualification of public offering fund manager, except Bohai Huijin securities asset management, Gaohua securities and Huatai asset management have not yet carried out public offering business, the other 9 have set up more than 50 public offering fund products, and the scale of public offering fund management exceeds 98 billion yuan.
In addition to the 12 securities companies that have obtained the public offering license, according to the information disclosed by the CSRC, Qilu asset management is currently applying for the qualification of public offering fund management business.However, some securities companies are unable to apply for one participation and one control.Except for the current regulatory framework and operational framework of the company, there is no clear framework for the operation of the fund.
According to Article 11 of the measures for the administration of securities investment fund management companies, one institution or multiple institutions controlled by the same actual controller shall not participate in more than two fund management companies, including one holding fund management company.Information shows that Everbright Securities has held Everbright Prudential fund and participated in Dacheng Fund.