Investors must lose interest and disappear! Shouldn't you go to the bank to see your money?
Recently, a private bank customer of China Merchants Bank broke the news that its wealth management products invested in 20 13 defaulted on September 20 17 under the introduction of the account manager of China Merchants Bank Beijing Branch.
The following is the product contract. According to the contract (Asset Management Contract of China Merchants Fortune-China Merchants Bank-Hony Capital Sandwich Special Asset Management Plan):
In this asset management plan, China Merchants Wealth Asset Management Co., Ltd. is the asset manager and China Merchants Bank Beijing Branch is the asset custodian. The target of the raised funds is the mezzanine fund invested by Hongyi-Hongyi Phase I (Shenzhen Stock Exchange) mezzanine investment center (limited partnership), with a scale of 654.38+0 billion yuan.
It looks complicated. Simply put, this product:
It is operated by the investment institution of China Merchants Bank.
This fund is entrusted by China Merchants Bank and then invested in Hony Capital I (Shenzhen) mezzanine investment center (limited partnership).
According to investors, when buying this product at that time, the account manager of China Merchants Bank once said to him:
The product expires in three years, and it is a product with guaranteed capital and interest. The annualized rate of return can reach 1 1%- 13%.
So the investors paid 6,543,802 yuan and 8 million yuan on August 20th, 2065.438+03 and August 9th, 2065.438+04, respectively, and the fund share subscribed by * * * was 20 million yuan.
According to the agreement with the bank, investors can get back the principal and interest from the bank on September 2, 20 16, but the problem has arisen. The account manager of China Merchants Bank said:
The term of the Fund adopts the structure of 3+ 1. According to the asset management contract, the general partner has the right to extend the term of the fund for one year. In other words, the fund manager has the right to extend the fund term to 2065438+September 2, 2007.
So China Merchants Bank extended the product expiration date by one year, but on September 2, 2007, the product broke the contract, and the account manager of China Merchants Bank once again stated:
Investors invest 20 million yuan, or they can only recover the principal, but they can't guarantee interest or "have little income"
If the principal of 20 million yuan is calculated according to the annualized income of 1 1%, the interest amount for four years will be as high as10.36 million yuan. China Merchants Bank defaulted twice, and investors also lost tens of millions of interest!
So what is this product that caused China Merchants Bank to default?
Default product!
Let's take a look. Let's analyze this product and why it broke the contract!
The product name is Hongyi Phase I, which was established on May 17, 2065438. The first delivery was completed on September 2 of that year, and the accumulated subscription investment was about 65,438.004 billion yuan.
In terms of product structure, Hony Mezzanine (Shenzhen) Investment Management Center (Limited Partnership) subscribed for 50 million yuan as a general partner (GP);
The subscription amounts of the four limited partners (LP) are as follows:
Legend Holdings 1 100 million yuan
Shenzhen Jiayuan Zhonghe Venture Capital Enterprise (Limited Partnership) is 20 million yuan.
Tibet Jiacheng mezzanine investment fund partnership (limited partnership) is 30.7 million yuan.
The investment wealth is about 840 million yuan.
In terms of term, the duration of the Fund is from the date of establishment (i.e. 20 17, 2003) to the third anniversary of the first delivery date (i.e. September 2, 20 16); The term of the Fund adopts the structure of 3+ 1. According to the asset management contract, the general partner has the right to extend the term of the fund for one year.
At the time of default, the account manager of China Merchants Bank claimed that the reason for the default was that two of the three projects invested by Hony Capital Phase I were normal, and one had some problems and was being reorganized.
However, after careful combing, observers found that Hony Capital invested in six projects instead of three, and three of them failed to quit after the asset management plan expired!
The capital management report of Hony Capital Phase I in the second quarter of 20 17 (hereinafter referred to as the "Management Report") shows that six projects include:
The three projects that failed to exit are:
Rong Xiao Zhong Dai (Phase 2)
According to the fund management report, the first investment of Rongzhong Small Loan was 65.438+0.5 billion yuan, which was withdrawn in June 2065.438+04, and the investment income was 22.9 million yuan. After that, Hony Capital invested an additional 65.438+0.5 billion yuan in the second phase, with an annual interest rate of 654.38+0.6%. However, after the extension for half a year at the end of 2065.438+05, due to liquidity reasons, Rongzhong Small Loan failed to repay when it expired in June 2065.438+06, which has caused overdue. "
ZOOMLION
2065438+In August, 2004, Hongyi Phase I joined hands with Zoomlion, the invested company invested by Hongyi, to invest in Chery Heavy Industry (later renamed Zoomlion). Among them, Hony's first-phase investment is1.1.30 billion yuan, and the expected annualized rate of return is 1.5%. Zoomlion plans to list the New Third Board, 438+05, at the end of 2065.
However, due to the obstruction of Zoomlion's sprint to the New Third Board, the plan was changed to: it will withdraw in the form of repurchase by major shareholders on 20 17. But up to now, the project has not been withdrawn.
Shanghai Yufeng project
Hongyi Phase I provided Shanghai Yufeng with RMB 65.438+0.3 billion, RMB 2065.438+0.5 and RMB 654.38+0 respectively in June, July and June, and the funds were used to supplement the borrower's working capital. Due to the debt crisis caused by bank lending, Shanghai Yufeng's capital chain broke. It is estimated that Shanghai Yufeng's total liabilities are 654.38 billion yuan, and its total disposable assets are only 320 million yuan, which is seriously insolvent.
Six projects were invested, and three of them went wrong, which is the root cause of product default!
Can I get my money back?
The most important question now is, can investors get their money back?
Although it has not been announced yet, the final result should be as the account manager of China Merchants Bank said: the principal can be taken back, but "the income is very small"!
In other words, investors who invested in this product, their 65.438+004 billion funds were borrowed by others, and then spent 4 years in vain!
Who is responsible?
Observer Jun thinks that both sides have problems, and China Merchants Bank may assume greater responsibility:
China Merchants Bank:
First, the account manager of China Merchants Bank privately promised income.
1 1%- 13% annualized rate of return, China Merchants Bank did not issue a letter of guarantee for investors. Although this is the personal behavior of the account manager, China Merchants Bank has made mistakes in supervision and management.
Second: Failure to fully demonstrate risks.
The risk of this product has already appeared, but the staff of the private banking department of China Merchants Bank has never fully revealed the risk, which led investors to make mistakes in their investment.
Investors:
On the basis of China Merchants Bank's failure to issue a letter of guarantee, investors still choose to believe the investment return promised by the account manager, which shows that investors do not fully understand the risks and operating mechanism of the products they buy.
Conclusion!
Last month, Jin Lu Service just broke the contract of 65.438+0.4 billion asset management plan; In less than a month, 654.38 billion products of China Merchants Bank defaulted. Observer Jun also learned that Bank of Communications also withdrew 300 million wealth management products last month!
Individually, it may be just a few harmless default events in the asset management industry, but if we put this series of events together for analysis, we can see the truth behind them!
That is, under the background of national economic deleveraging, after the introduction of new regulations on asset management, the rigid redemption of the asset management industry will completely become history!
To put it simply, there may be more and more cases where investors can't get investment income or even investment principal!
Faced with this situation, what should we do?
First, establish a correct sense of investment
To make an investment, we must first correct a wrong view, that is, if I make a wrong investment, there will be a bank or a country to back me up. This possibility will hardly exist in the future. Investment is your own business. If you make mistakes in investment decision, you must be responsible for it yourself!
Therefore, if you invest in any product, any product, any product (the important thing is said three times), you must carefully understand your own risks and operation methods, and you can't even distinguish between capital preservation and non-capital preservation!
Second, the products provided by banks should also be carefully screened.
In China, many big banks are state-owned, so investors have formed a fixed mode of thinking, that is, banks must be safe and the products provided by banks will not go wrong!
This is completely wrong. The products provided by banks can also be divided into many types. From the distribution of income, it can be divided into many products, such as guaranteed interest, guaranteed interest, non-guaranteed interest and so on. From the investment direction, it can also be divided into trust, fund and insurance.
Observe your suggestions when buying products at the bank. First, look at whether the funds are guaranteed (you can't just listen to the account manager, you should look at the bank's guarantee letter), then look at what the export end of the assets is (where to invest), and then look at the handling method of default!
To sum up, don't think about "fool-like financial management" in the future, leave your money in the bank and be responsible for your own funds, because no one will give you the bottom!