For trust investors, the most concerned issue is naturally redemption. Recently, due to the impact of the big environment, the problem of redemption in the wealth management industry has emerged, and Anxin Trust has also received repeated attention. In its reply, Essence Trust stated that there were 25 projects that were not paid as scheduled, mainly for professional and institutional investors, and 65,438+000% of the projects that were actively managed were secured by collateral, so there was no ultimate risk that they could not be paid in the end. According to the contract, pay 65,438+000% in full and complete the corresponding interest compensation.
Uncover the "mysterious" trust model
The private placement and rich business model of the trust industry often make its real financial situation unknown to the public. Therefore, it is extremely rare for Essence Trust to disclose unpaid items in the industry. Some industry observers said: "Anxin Trust, as a listed trust company, is subject to double supervision, and the information it publishes has relatively high authenticity, which can also be used to see the problems faced by the whole industry."
The above-mentioned person also said that from the deferred payment data released by Essence Trust, more than 58% of the unpaid amount was in the first half of 20 19, which means that the redemption of the company's projects has a strong correlation with the market environment: "Considering that 52% of Essence Trust's project counterparties are small and medium-sized enterprises, it can be seen that the redemption problem it faces is mainly caused by short-term liquidity."
There is no "ultimate risk" in actively managing projects.
According to the overall outstanding data released by Anxin Trust, there are 25 projects with a total amount of11700 million yuan. This figure is really eye-catching and worries many investors.
However, the results of further analysis show that although the scale of redemption faced by Anxin Trust is large, its severity may be overestimated.
Judging from the identity of investors, the customers of the 25 projects that Essence Trust failed to pay on schedule are basically professional investors, not individual investors. Earlier, some media reported that many unfinished projects of Essence Trust involved individual investors, but further investigation showed that these projects were either normal extensions in the contract terms or paid.
Among the 25 unpaid projects, Essence Trust also stressed that when the company sets up trust plan products, it will require the debtor to provide strong guarantee measures to ensure that it is still possible to execute the corresponding property in the case of debtor's default. Therefore, all actively managed projects have 100% pledge guarantee, which means that the underlying assets of the project are relatively stable, and it is possible to complete the payment by realizing the underlying assets. As Essence Trust said, the above projects "have no ultimate risk".
In addition to actively managing the project, the channel business that is not actively managed usually stipulates that the client bears the trust investment risk, and the trust company as the trustee does not need to bear the corresponding risk.
Industry observers said: "From the point of view that the ratio of mortgage to pledge reaches 100%, there is real estate behind the project, which means that the principal and interest can be repaid. However, the realization of real estate is not real-time, and the disposal of assets takes time. "
In an interview with the media, the relevant person in charge of Anxin Trust said, "As the manager, the company will strictly fulfill the relevant obligations of honesty, diligence and due diligence, and ensure the normal payment of trust products as much as possible through various channels and methods, including taking appropriate and effective measures such as negotiation extension, guarantee measures and litigation, actively reducing the situation of default and delayed payment, and ensuring the property safety of beneficiaries."