By the end of the first quarter of 2024247videopokerThe management scale of the Xinwo fund is 52247videopoker.63 billion yuan247videopokerRanked 133rd out of 157 public fund managers

Qi Wenjian, a researcher at Investment Times punctuation Finance and Investment time Network

The public fund company, which has been established for nearly nine years, has once again won shareholder support.

Recently, the Xinwo Fund issued an announcement on the addition of registered capital and shareholders, showing that the company has increased its capital and shares, with a registered capital of 1.247videopoker40 million yuan rose to 156 million yuan, of which new shareholders Qingdao Jinjialing holding Group Co., Ltd. (hereinafter referred to as Qingdao Jinjialing) and Qingdao Heinuo Investment Development Co., Ltd. (Qingdao Haino Investment Development Co., Ltd.) each subscribed 7.7827 million yuan of new registered capital Xinwo Holdings Group Co., Ltd. (hereinafter referred to as Xinwo Holdings) and Xinwo United Asset Management Co., Ltd. (hereinafter referred to as Xinwo United Capital Management) subscribed for 280000 yuan and 120000 yuan of new registered capital respectively.

After the completion of the above capital increase, the shareholders of the Xinwo Fund are Xinwo Holdings, Xinwo United Capital Management, Qingdao Jinjialing and Qingdao Heinuo Investment Development, with a shareholding ratio of 63.01%, 27.01%, 4.99% and 4.99%, respectively.

This is the company's fourth capital increase in the more than eight years since its inception, but the development is still slow. According to Wind data, by the end of the first quarter of 2024, the company had managed 5.263 billion yuan, of which a single pure debt fund, Xinwo Anxin, was scheduled to open in 87 months for 5.135 billion yuan, while equity funds were only 71 million yuan.

With regard to shareholder capital increase, management scale and other issues, punctuation Finance and Investment time Network researchers sent communication letters to the Xinwo Fund, but no reply was received as of press time.

The fourth capital increase in the past nine years

According to public information, the Xinwo Fund was established on August 19, 2015, jointly initiated by Xinwo Holdings and Xinwo Joint Management.

Recently, the registered capital of the Xinwo Fund has increased again, from 140 million yuan to 156 million yuan. Unlike the previous three capital increases, Qingdao Jinjialing and Qingdao Haino Investment Development have been added to the list of shareholders of the Xinwo Fund, both of which contribute 7.7827 million yuan and hold 4.99 per cent of the shares in the Xinwo Fund. The capital contribution of Xinwo Holdings is 280000 yuan, and its shareholding ratio has dropped from 70% to 63.01%. The subscription amount of Xinwo United Capital Management is 120000 yuan, and its shareholding proportion has dropped from 30% to 27.01%.

As a matter of fact, in March 2020, March 2021 and June 2022, Novo Holdings and the joint management of Xinwo made three "blood transfusions" to the Xinwo Fund, and the registered capital of the Sevo Fund was raised from 100 million yuan to 140 million yuan.

With regard to the capital increase and future development path of small and medium-sized fund companies, Yang Delong, chief economist of Qianhai Open Source, said to researchers of punctuation Finance and Investment time Network that the current fund issuance and market environment is not good, and for small and medium-sized fund companies, the competition is extremely fierce and the development is more difficult. after the registered capital of fund companies is consumed, they frequently obtain capital increase from major shareholders. It is an important way for shareholders to support the development of fund companies. After the market situation improves, fund companies need to fundamentally improve product performance, expand company brand awareness, and issue special products if they want to break through the tight encirclement.

Equity fund size Mini

Xinwo Fund, which has attracted a lot of attention recently, is hardly optimistic about its own development.

In terms of management scale, according to Wind, the size of Xinwo Fund under management was 2.247 billion yuan at the end of 2015 and climbed to 5.234 billion yuan by the end of 2016. But it has since shrunk as the main theme, falling to 441 million yuan at the end of the first quarter of 2021 and then soaring to 5.538 billion yuan at the end of the third quarter of 2021. Since then, the company has failed to make a further breakthrough, with a management size of 5.263 billion yuan by the end of the first quarter of 2024, ranking 133rd among 157public fund managers.

According to Wind, a total of six fund companies were set up in the industry in 2015, including Xinwo Fund, four of which had more than 10 billion yuan under management at the end of the first quarter of 2024, with the highest close to 50 billion yuan.

The overall management scale is not ideal at the same time, the Xinwo fund also has a single base. Specifically, the new Wo Anxin 87 months is scheduled to open at the end of the first quarter of 2024 with a management scale of 5.135 billion yuan, accounting for 97.57% of the company's total public offering fund.

Compared with a single bond fund to support more than 90% of the management scale, the new Wo fund's equity fund is slightly mini. By the end of the first quarter of 2024, the size of the company's equity fund was 71 million yuan and the number of products was three, namely, Xinwo Innovation pilot, Xinwo domestic demand growth, and Xinwotong surplus. Among them, the new Wo domestic demand growth, the new Wutong surplus are hovering below the liquidation line.

The first quarterly report of the Fund in 2024 revealed that the growth of domestic demand in Xinwo and the net asset value of the fund for 60 consecutive working days were less than 50 million yuan. According to the relevant regulations, the Xinwo Fund has reported to the CSRC and proposed a solution, and the company will continue to pay attention to the net asset value of the above two products and monitor and operate the fund in strict accordance with the requirements of relevant laws and regulations.

In addition, in February 2024, the Xinwo Fund held a general meeting of fund share holders by means of communications to consider the motion on the continued operation of the "fund contract" for the growth of domestic demand in Xinwo, so as to realize the preservation of the fund. However, according to the results of the counting of votes, the fund shares voting at the fund share holders' meeting did not reach 1 / 2 of the fund's total shares (including 1 / 2) on the date of equity registration, and did not meet the conditions for holding the statutory meeting, so the fund share holders' meeting failed.

It is worth noting that since the establishment of Xinwo domestic demand growth on September 9, 2021, no new fund has been raised for nearly two years and nine months in a row.

The size of equity funds under Xinwo Fund at the end of the first quarter of 2024 (100 million yuan)

Source: Wind