After nearly 3 years, Liang Yongqiang will return to the front line of public offering again as a fund manager.
A few days ago, Huiquan Strategy Preferred Hybrid opened subscription, and the subscription period lasted until the close of trading on July 16, which was the first new fund under Huiquan Fund, which was established in June 2020, and there were two fund managers, namely Liang Yongqiang and Yang Yu, who had served as senior executives of Huashang Fund and Harvest Fund respectively, with a total of 40 years of experience.
As a nascent fund company, Huiquan Fund started by two senior executives to manage the first fund, which is also rare in the industry. Among them, Liang Yongqiang has had many hot topics in the vanity fair of public offering, such as the annual performance champion of the stock fund in 2010, which forced Wang Yawei to win the annual performance championship of the stock fund; the heavy military industry suffered losses for many years; and participated in the establishment of Huiquan Fund after leaving the Chinese Commercial Fund.
In July 2018, Liang Yongqiang left the Chinese Commercial Fund after 14 years of work, and there was constant discussion about his next stop in the industry, and it was rumored that he would join the private equity industry. Now, he has dedicated his youth to the public offering industry, returned to the front line of public offering, and joined hands with another public fundraising tycoon, Yang Yu, to manage the new fund. As one of the former "Five Tiger Generals of Chinese Businessmen", what new investment experience will Liang Yongqiang bring to investors?
On June 21, Huiquan Fund's first fund, Huiquan Strategy Preferred Hybrid Offering, was launched from June 21 to July 16. In addition to the company's direct sales platform, the fund has also opened subscription channels in 12 other distribution agencies.
The new fund attracted the attention of many investors: The list of fund managers: Liang Yongqiang and Yang Yu. The former is the general manager of the company, the latter is the director of the company, and one fund is run by two senior executives of the company, which is also rare in the industry. At the same time, the past history of the two is also relatively rich, Liang Yongqiang once served as the general manager of China Commercial Fund, and Yang Yu served as the managing director of Harvest Fund.
After 3 years, Liang Yongqiang returned to the front line to take charge of the public fund, and once again attracted the attention of the public offering circle.
I still remember that summer 3 years ago, after the Announcement of Liang Yongqiang's departure was issued by the China Commercial Fund, when the outside world was speculating about where Liang Yongqiang would go next, Liang Yongqiang told the "International Finance News" reporter on the phone in a flat tone: "I am no longer in the public offering, I want to take more rest." ”
It is said that it is a rest, but Liang Yongqiang is not idle, and has been preparing for a new public fund company.
On 29 May 2020, the China Securities Regulatory Commission (CSRC) issued the Reply on Approving the Establishment of Huiquan Fund Management Co., Ltd., according to which Huiquan Fund was funded by three natural persons, Yang Yu, Liang Yongqiang, Chu Dong, and two employee-owned partnerships, with Liang Yongqiang as the general manager of the company. In June of the same year, Huiquan Fund was officially established.
Tianyancha information shows that huiquan fund has undergone several changes in industrial and commercial records since its establishment, and in March 2021, Meng Chaoxia joined the company as the chairman of the board, and he has served as the general manager of Guolian Fund, the general manager of Rongtong Fund, the deputy general manager of Fuguo Fund and other institutional executive positions. In May 2021, the natural person shareholders withdrew from the company in the early winter. At present, the management team of Huiquan Fund mainly includes Meng Zhaoxia, Liang Yongqiang, Yang Yu and Wu Tao, all of whom have many years of experience in large and medium-sized public offerings.
Due to the convergence of many experienced big men in the public offering circle, the development of the individual public Huiquan Fund has also attracted much attention in the industry, but whether it is a personal department of the strength faction, it also needs the performance of the first or more products to allow investors to accept it.
To set up a public fund company, the position of the fund manager can naturally not be empty, but what if new products are about to be released?
The general manager and directors are on top first.
According to public information, since the establishment of Huiquan Fund for more than a year, there have only been 2 fund managers, Liang Yongqiang and Yang Yu, and both are the company's management, and the burden of managing the new fund has also fallen on the shoulders of the two executives. Liang Yongqiang and Yang Yu both have many years of experience in the front-line of public offering, Liang Yongqiang has managed 5 funds under China Commercial Fund, Yang Yu has managed more than 10 funds under Harvest Fund and 1 fund under Wanjia Fund.
Liang Yongqiang and Yang Yu are not only alumni of Nankai University, they have also won a number of well-known awards in the industry, Liang Yongqiang has won 8 Golden Bull Awards, Yang Yu has won 7 Golden Bull Awards, the two management of the same fund can be described as a strong combination, but the award can only be one of the references for evaluating the past performance of fund managers, and does not reflect the actual investment level.
The Huiquan Strategy Preferred Hybrid Contract to be managed by the two companies mentions that "the Fund adopts a combination of top-down and bottom-up active stock selection strategies, adopts a combination of active and quantitative methods to evaluate the investment value of individual stocks, and focuses on individual stock investment opportunities with long-term competitiveness and growth potential." ”
In addition, the Fund can also invest in Hong Kong stocks, "through the Mainland and Hong Kong stock market trading interconnection mechanism to invest in the Hong Kong stock market, the Fund will select Hong Kong stocks with good fundamental factors and reasonable valuation levels into the Fund's stock portfolio." ”
In the "Letter to Investors" released by the official public account of Huiquan Fund in March this year, it was mentioned that "in such a turbulent year full of opportunities and challenges, Huiquan Fund was officially announced and embarked on a new starting point and a new journey... A few years ago, in Shenzhen, the forefront of reform and opening up, several senior insightful people in the industry embraced the long-term firm optimism in China's public fund industry and China's capital market, and germinated the idea of initiating the creation of Huiquan, and then put it into action. ”
Huiquan Fund also mentioned that the team's investment experience covers three major sectors: active equity, quantitative and fixed income.
Liang Yongqiang, general manager of Huiquan Fund, is about to manage public funds again, and he has a doctorate degree in economics from Nankai University, who served as a researcher at Hualong Securities for two years, and joined the Huashang Fund Planning Group in 2004 to participate in the preparation of the company. Huashang Fund is a company he first entered the industry and grew up with, and it is also an important experience for him to survive the ups and downs of his life.
In the first few years of working at Huashang Fund, Liang Yongqiang met Zhuang Tao, Sun Jianbo, Wang Feng, and Tian Shengming. At that time, Wang Feng, who was the general manager at the time, Zhuang Tao, who was the investment director at the time, Sun Jianbo, who was the general manager of the investment department at the time, Tian Shengming, who was the general manager of the research department at the time, and Liang Yongqiang, who was the deputy general manager of the investment department at the time, formed the "Five Tigers of Chinese Businessmen" combination that was later formed in the industry. Its market popularity and influence are comparable to the Huaxia Fund of Wang Yawei's era.
In 2010, the Huashang Shengshi Growth Stock (changed to "Huashang Shengshi Growth Hybrid" in August 2015) managed by Liang Yongqiang won the annual performance championship of the equity fund, and Wang Yawei, who was still in Huaxia Fund, was well known to investors. According to industry insiders, the funds managed by Liang Yongqiang are good at selecting industries for allocation.
After the third quarter of 2014, Liang Yongqiang's investment direction began to focus on the military industry, and many of the funds under his management began to re-position military stocks, at that time, the military industry has also been avoided by industry insiders. A number of industry insiders have told the "International Finance News" reporter that the military industry is not very transparent and can not be understood.
However, Liang Yongqiang, who has always loved the military industry, did not give up, and was gradually labeled as "military industry" by the industry. "If it's not clear which military fund to buy, then buy Liang Yongqiang's management." Some investors have said so. In the third quarterly report of a fund managed by Liang Yongqiang in 2016, "As the core strategy of this round of China's transformation, the military-civilian integration strategy is becoming more and more clear. ”
But in the three years from 2015 to 2018, the military industry sector with strong cyclical attributes seems to have not brought good luck to Liang Yongqiang. According to Oriental Wealth Choice data, after the military industry sector reached a high point on May 27, 2015, it opened a shock and decline market, and only opened a rebound market after it reached a low level on October 19, 2018. In the aforementioned period, although the market as a whole tends to decline, the military sector fell in the front, reaching 72.48%, ranking second in the 28 Shenwan first-class industries, and the first is the media sector (decline: 78.22%).
However, before the military industry sector stopped falling and rebounded in 2018, Liang Yongqiang left the China Commercial Fund. But one thing that needs to be explained is that perhaps Liang Yongqiang's direction is right, but he really needs time to prove himself. As of June 23, 2021, since October 19, 2018, the military industry sector has increased by 85.72%, and the annual increase in 2020 has reached 57.98%, ranking fourth in the industry.
Many investors' impression of Liang Yongqiang is still stuck in the heavy military industry, "In 2013, it began to buy Liang's fund, when The Chinese businessman was a bull. Later, the Chinese businessmen managed by Liang restocked the military industry in the future, which was a sad thing."
Why did Liang Yongqiang choose to manage the new fund at the current point in time, what kind of investment strategy and industry allocation will he adopt, and will he also allocate the military industry?
With many questions, the International Finance News reporter contacted Liang Yongqiang, "Because Huiquan Fund is a new company, all aspects have not been docked well, this time is not very convenient to accept an interview, I am really sorry." Liang Yongqiang humbly told reporters that it was inconvenient to respond. The industry has given Liang Yongqiang an evaluation that is always stuffy, humble and calm.
All the past is the prologue. The past achievements have become history, but the future journey is at the feet of Liang Yongqiang.
International Finance News reporter: Xia Yuechao