THE NEW FUND RAISING OF CICC Fund Qiu Yanbing was extended by 11 days, and 2 failed funds were deposited in the past "achievements"

On March 26, Capital State learned that on top of today's new fund issuance market, two more funds issued announcements on the extension of the fund offering period, the two are CICC Hengyuan one-year holding period mix, Great Wall Preferred Steady Progressive six-month holding period mix, the former extended by 11 days, the latter extended by 4 days.

For the wave of extended fundraising period since March, relevant people said that the capacity exploration of the previous star fund manager has been exhausted, and the scale of the star fund in management is relatively high, and the scale of continuing to rely on the star fund manager to obtain new funds is limited. In addition, the stock market volatility has become larger, and the performance of some star funds has been sharply retraced, so that fund investors realize the investment risks of the fund, and the investment fund is more rational and more cautious.

It is worth noting that Qiu Yanbing, the proposed fund manager of CICC Hengyuan's one-year holding period, has previously failed to raise 2 funds.

CICC Fund Qiu Yanbing frequently helms The New Foundation, and has now failed 2 and extended the fundraising period

According to the information, CICC Hengyuan's one-year holding period mix was originally scheduled to be from March 15, 2021 to March 26, 2021, and the fund said that in order to fully meet the investment needs of investors, it decided to extend the fundraising period to April 6, 2021.

Choice data shows that CICC Hengyuan's one-year holding period is mixed with Qiu Yanbing, the fund manager has a period of 0.73 years, and the number of funds under management is 9, and the scale of funds under management is 3.467 billion yuan. Qiu Yanbing successively served as a researcher in the Strategic Research Division of the Central Foreign Exchange Business Center of the State Administration of Foreign Exchange, an investment manager of the first investment office, and a deputy director and director of the second investment division (during which he was assigned to Hong Kong Huaan Investment Co., Ltd. as deputy general manager and investment director); Member of the Investment Decision Committee and Deputy Director of Research of Silk Road Fund Co., Ltd. (presided over the work); Assistant General Manager and Investment Director of Hetai Life Insurance Co., Ltd. Joined CICC Fund Management Limited in January 2020.

It is reported that among the 9 fund products currently managed by Qiu Yanbing, it is worth noting that there is a one-year holding period mix of CICC Hengyuan that has been extended by the fundraising period, and a CICC Growth Select Hybrid that has just been established on March 22. In addition, 2 new mixed bases that failed to raise them were also needed.

Relevant announcements show that on February 10 and February 20, CICC Fund issued announcements on the inability of fund contracts such as CICC Fengsheng Mix and CICC Fengying Mix to take effect. It is reported that both are due to the failure to meet the fund filing conditions stipulated in the CICC Fengsheng Hybrid Securities Investment Fund Fund Contract as of the expiration of the fund raising period, so the fund fund contract cannot take effect.

According to the data, the fundraising period of the above two failed funds is 3 months, of which the fundraising period of CICC Fengsheng Hybrid is from November 6, 2020 to February 5, 2021, and the fundraising period of CICC Fengying Blend is from November 18, 2020 to February 17, 2021. In addition, the minimum total number of shares raised by the two funds is 200 million, and the minimum amount raised is 200 million yuan.

According to the prospectus, the fund prospectus of CICC Fengsheng Hybrid shows that it will adopt a "top-down" analysis method, combined with the model and judgment of long-term strategic asset allocation, medium-term cyclical asset allocation and short-term tactical asset allocation, and dynamically adjust the investment ratio of various types of assets. CICC Fengying Blend will focus on investing in value-creating companies with an endogenous growth foundation, with a focus on the margin of safety and absolute return opportunities for relevant individual stocks.

After the failure of two consecutive fund issuances, the novice fund manager launched the CICC Growth Select Hybrid again in March this year, and although the final successful fund contract came into effect, the net subscription amount during the fundraising period was only 220 million yuan.

After the successful issuance of THE CICC Growth Select Hybrid, CICC Fund "non-stop" issued a new fund in March, that is, today's release of the extended one-year holding period of CICC Hengyuan Mix, the proposed fund manager or Qiu Yanbing. The fund was extended by 11 days, and it is worth observing whether it can be successfully raised.

Looking at the time of his 9 funds, Qiu Yanbing has repeatedly assumed the situation of multiple new bases in a month since he officially began to manage the fund in July last year, and perhaps CICC Has great expectations for it.

In recent years, ciccumb fund executives have changed frequently, and former chairman Chu Gang has left his post due to work arrangements

In addition to the recent frequent attention of novice fund managers, the executive changes of CICC Fund in the past year are also worthy of attention.

On June 30, 2020, CICC Fund issued an announcement on the change of deputy general manager, and Li Yonghe left the position of deputy general manager due to personal reasons on the announcement date, and Qiu Yanbing took over this position.

On December 24, 2020, CICC Fund issued an announcement of the change of chairman, and chairman Chu Gang left office on December 23, 2020 due to work arrangements, and was succeeded by Hu Changsheng. It is worth mentioning that Hu Changsheng is the fourth chairman of the company in more than 7 years since its establishment.

On March 5, 2021, CICC Issued an announcement on the change of senior management, and Inspector General Li Hong left office on March 3, 2021 due to personal family reasons, and was succeeded by Zhao Bi. It is reported that Zhao Bi has served as the manager of the investment banking department of China International Capital Corporation Limited; Vice President of Investment, Shanghai Panxin Equity Investment Management Co., Ltd.; Managing Director, Director and Head of Innovative Investment Management Department of CICC Fund Management Co., Ltd.

This article originated from Capital State