madrid wholesale jewelry Is private equity fund deceiving and legal?

dubai wholesale jewelry Haha, private equity funds are legal
of course, there are many deceiving people in the market. Definition
The so -called private equity fund refers to a fund set up by raising funds to a minority of investors through non -public ways. [1] [2] [3] [4] Since the sales and redemption of private equity funds are carried out by the fund manager and investors privately, it is also called a fund raised to specific objects.
[Edit this paragraph] Features
The first, private equity funds are a special investment fund, mainly compared to public funds;
second, private equity funds are generally only " "In the small circle" (for only a few investors) to raise funds;
third, the operation of the sales and redemption of private equity funds has the characteristics of private negotiation and reliance on private trust;
fourth fourth The starting point of private equity funds is usually high. Whether it is a natural person or a legal person and other organizations, it generally requires a specific scale of property;
Fifth, private equity funds generally cannot use public media to advertise, that is, it must not be disclosed. Land attracting and attracting investors;
Sixth, the fund sponsor of private equity funds and fund managers usually invest in their own funds to form a mechanism for binding, risk sharing, and income sharing;
Seventh, the regulatory environment of private equity funds is relatively loose, that is, the government usually does not strictly regulate it;
The eighth, the information disclosure of private equity funds is not strict; High degree;
, tenth, the response of private equity funds is relatively fast, and there is a very flexible and free operating space;
eleventh, the return on private equity funds is relatively high (that is, the probability of high yields is relatively relatively higher than the relatively compared Big);
The twelfth, others.
[Edit this paragraph] Advantages
The public offering (Public Offering) is publicly raised. There are two public meanings: the first is to advertise and raise it to all people who know and not know. The second is the number of objects raised, such as generally defined more than 200 people.
The private placement (Private Placement) is privately raised or privately available. The meaning of privately is as follows: First, you cannot advertise. Second, it can only be raised from specific objects. The so -called specific objects have two meanings. One is that the other party has the ability to control the risk of risk, and the other is that the other party is an institution or person in a specific industry or a specific category. Third, the number of private equity raises is generally relatively small, such as less than 200 people.
Compared with public funds such as closed funds and open funds, private equity funds have very distinctive characteristics. It is also the advantages that these characteristics have enabled public funds.
First, private equity funds raised funds through non -public ways. In the United States, public funds such as common funds and pension funds generally use public media to advertise customers. According to relevant regulations, private equity funds shall not use any communication media for advertising. Reliable news, or directly understand the form of fund managers.
Secondly, on the raised objects, the object of private equity funds is only a few specific investors. Although the circle is small, it is not low. For example, in the United States, hedge funds have very strict regulations for participants: if they participate in their personal names, their annual annual income in the past two years is at least $ 200,000; if they participate in the name of the family, the family's income in the past two years will be at least 300,000 The US dollar is above the US dollar; if you participate in the name of an institution, its net assets are at least 1 million US dollars, and there are corresponding restrictions on the number of participants. Therefore, private equity funds have a targeted investment goal, which is more like investment service products tailored for middle -class investors.
third, different from the strict information disclosure requirements of public funds. The requirements of private equity funds are much lower, and government supervision is also relatively loose. Therefore The opportunity to obtain high returns accordingly is even greater.
In addition, a prominent feature of private equity funds is that fund sponsor and manager must invest in fund management companies with their own funds. Whether the fund operation is closely related to their own interests. From the perspective of the current approach of international traffic, fund managers generally hold 3 % -5 % shares of the fund. Once a loss occurs, the shares owned by the manager will be used to pay the participants. Therefore, the sponsor of the private equity fund will be The manager and the fund are the community of interests of lip tooth, glory and disgrace, and the common interests of the common interests.
[Edit this paragraph] Features
1. Products are more targeted. Because private equity funds are raised to a few specific objects, their investment goals are more targeted, and they are more likely to make investment service products for customers. The risk -income characteristics of the combination meet the special investment requirements of customers.
2. easier to style. Due to the high entry threshold for private equity funds, the main investors are more rational. The relationship between the two parties is similar to a partnership, making the fund management less troubled by the redeemed at any time as the open fund. Fund managers can only obtain long -term stable excess profits only the advantages of fully exerting their own ideas like Buffett.
3. higher yields. This is the vitality of private equity funds, and it is also a place beyond the common fund. Because the fund manager has more due diligence, he has better space practical investment concepts. At the same time, you don't have to disclose detailed investment portfolios on a regular basis as public fundraising, but the investment yield is higher.
Because of the above characteristics, private equity funds occupy an important position in the international financial market, and also cultivated investment masters like Soros and Buffett.
[Edit this paragraph] Operation mode
The main operating method of private equity funds:
The first is the promise to guarantee the bottom. If you fall below the bottom line, the operation will be terminated automatically, and the funding of the bottom will not be returned.
The second type, receiving account number (that is, the customer only needs to give the account number to the private equity fund). The agreed profit reaches a percentage (generally 10%) or more is divided in accordance with the agreed ratio. This is aimed at familiar customers and large enterprise units.
[Edit this paragraph] Organization form
1. Company -style
The company -style private equity fund has a complete corporate structure, and the operation is more formal and standardized. At present, corporate private equity funds (such as "a certain investment company") can be established in China. Semi -open private equity funds can also operate more conveniently in some kind of change. There is no need to accept strict approval and supervision, and the investment strategy can be more flexible. For example:
(1) Establishing a "investment company", the business scope of the "investment company" includes the investment of securities;
(2) the number of shareholders of "investment companies" do not have to To be relatively large, to ensure the nature of private equity, but also a large scale of funds;
(3) "Investment Company" of the funds will be managed by the fund manager. According to international practice, the manager collects fund management fees and benefits The incentive fee and enter the operating cost of "investment company";
(4) The registered capital of "Investment Company" is registered once a year If you need it, the investor can be redeemed once a year at a specific point of time. In other times, investors can transfer equity agreements or go to the counter trading. The "investment company" is essentially a corporate private equity fund that is expanded at any time, but only redeem once a year.
, there is a disadvantage of corporate private equity funds, that is, double taxation. The methods of overcoming the shortcomings are:
(1) Register private equity funds in the paradise of tax avoidance, such as Cayman and Bermuda;
(2) Register a corporate private equity fund as a high -tech enterprise (enjoyable Many discounts) and registered in places where taxes are relatively favorable;
(3) By borrowing, that is, in the establishment of the fund to jointly or acquire a company that can enjoy tax discounts (preferably non -listed companies) and take it to it As a carrier.
2. Contract -type
The organizational structure of the contract fund is relatively simple. The specific approach can be:
(1) As the manager of the fund, the securities company selects a bank as its custodian;
(2) The amount of amount of amount of amount of amount is raised to start operation, and it is open once a month. , Announce a net worth of the fund to the fund holder and handle a fund redemption;
(3) In order to attract fund investors, the fee should be reduced. management fee. Its advantage is that it can avoid dual taxation. The disadvantage is that it is difficult to avoid the approval and supervision of the securities management department.
3. Virtual
The surface of virtual private equity funds looks like commissioned financial management, but it actually operates according to the fund. For example, when the virtual private equity fund is established and expanded, it is apparently signed a commission financial agreement with each customer, but these entrusted financial accounts are jointly operated by the fund. Clear according to the net value of the fund. The specific approach can be:
(1) Each fund holder opens a sub -account in its personal name;
(2) Fund holder jointly invested to form a main account;
(3) As the manager of the fund, the securities company uniformly manage the accounts, and the net value of the fund unit is calculated uniformly;
(4) The actual market value of each account is as calculated based on the net value of the fund unit as much as possible. The market value is equal. If the two are not equal, the capital difference between the main account and the sub -account is balanced when the redemption is redeemed.
The advantages of virtual types are that the securities management department can avoid the approval and supervision of fund establishment and operation, set flexibility, and avoid double taxation. The disadvantage is that they still have not got rid of the restraint of entrusted financial management. In terms of fundraising, they need to be further standardized. In terms of funds, they are still supervised by securities management departments in the operation of funds.
4. Combination type
In order to give play to the superiority of the above three organizations, a fund combination can be set up to combine several forms of organization. There are 4 types of combination funds:
(1) Company -type and virtual combination;
(2) Company and contract -type combinations;
(3) contract type and virtual type Combination;
(4) Companies, contractual and virtual combinations.
5. Limited partnership
The limited partnership is the main form of American private equity funds.
On June 1, 2007, my country's "Partnership Enterprise Law" was officially implemented. A group of limited partnerships were established one after another. These limited partnerships were mainly concentrated in the field of equity investment and securities investment.
6. Trust system
The equity investment or securities investment through a trust plan is also a typical form of Yangguan Private Equity.
[Edit this paragraph] Historical development
1993-1995: During the budding stage, the securities company and large customers gradually formed an irregular trust relationship;
1996-1998: During the formation stage, during this period, listed companies will commission the underwriters to invest in idle funds, and many consultants have become private equity trader;
1999-2000: Blind development stage, due to the hot investment management company, a large number of securities industries, a large amount of securities industry Elite -jumping, relying on familiar professional knowledge, excellent marketing, a hundred responses.
In 2001: Gradually standardized and adjusted the stage. Its operating strategy is transformed from the capital protection business to a centralized investment strategy, and the operation method is changed from the combination of Zhuang's shares to funds and value discovery.
In 2004, private equity funds began to cooperate with a trust company to launch a trust investment plan, marking the official starting operation of private equity funds.
In 2006, the Securities Regulatory Commission issued a draft of the pilot method of special accounting financial management, stipulating that the fund company handles specific asset management business for a single customer, and the assets of each business shall not be less than 50 million yuan. It can be divided into 20%from the net income of the management assets. Because specialty financial management is only open to specific customers, and there is a threshold for entry and cannot be introduced in the media. In fact, it is like a private equity business of a fund company.
In 2007, the "Partnership" was promulgated, and private equity funds began to establish a partnership, marking the significant acceleration of the internationalization of private equity funds.
[Edit this paragraph] Status
is precisely because of the above characteristics and advantages that private equity funds have developed very quickly in the international financial market and have occupied very important positions. Investment masters and international financial "sniper" like Buffett. In China, although there is no public and legal private equity investment fund at present, many non -bank financial institutions or individuals engaged in collecting securities investment business have long been exposed. To a certain extent, they already have the characteristics of private equity funds due to the characteristics of private equity funds. And nature. According to reports, the total amount of funds in the existing private equity funds in China is at least 200 billion yuan, most of which have used the relevant US market regulations and management charter for standardized operations, and gathered a large number of industry elites and economists. But the disadvantage of the United States is that they can only survive in the underground world without obscurity. After China joined the World Trade Organization, the opening of the Chinese fund market is not far away. According to relevant agreements, foreign funds can enter the Chinese market 5 years later. The fierce competition in the future can be imagined. As a result, many people of insight have called for a clear legal identity of private equity funds as soon as possible to allow them to step into the sun as soon as possible, which is not only conducive to regulating the management and operation of private equity funds The market competitive environment, reduce transaction costs, promote financial innovation, and continuously create and enrich financial products and investment channels in the securities market, and meet the increasingly diverse investment needs of investors.
[Edit this paragraph] The development of China's private equity fund development
private equity fund is an important participant in the capital market. According to its connotation, it can generally be divided into hedge funds, private equity funds and entrepreneurial investment funds (can also be available It is called a venture capital fund). Chinese private equity funds usually refer to institutional investors who are engaged in the securities market and are formed by non -public fund -raising. It is estimated that the scale of private equity funds in my country's A-share market is about 500 billion yuan, and the large amount of single funds with a large scale is estimated to be about 200,000 to 300 million yuan. With the in -depth development of my country's securities market and the competition of investment institutions of foreign backgrounds, my country's private equity funds are also facing structural changes. The three fund model mentioned above will be the direction of structural changes in my country's private equity funds.
. The reform of equity distribution provides conditions for the rise of private equity funds
The reform of equity splitting is the government's established goal. After the reform, the number of stock markets in my country's stock market will be 3 to 4 times before the reform. The acquisition between listed companies will also be much simpler than before the whole circulation. The pressure of hostiles (Hostile) will also force the management of existing listed companies to cooperate more closely with shareholders to avoid the passive situation of being acquired. In addition, after the full circulation of stocks, in order to achieve the purpose of industrial expansion, mutual acquisitions between listed companies will also become easier and more economical.
When the acquisition of listed companies, no matter what form of the listed company, it will have a greater impact on its financial structure and leads to changes in stock prices. This change will inevitably change the investment model of private equity funds. Some of these private equity funds may focus on such businesses, and have transformed from the current general speculative private equity funds to a specialized partnership fund (M

wholesale gold filled jewelry vendors Unlikely, it is a liar, unless it is a friend who knows and knows the project. Otherwise, it will be a liar. What kind of miles of afforestation, nourishing cows, etc. are all virtuality