v3 Chapter 1411： Benefits of asset management giants

"Chairman, you have been waiting for a long time."

"Well, sit down!"

The next morning, Wang Qi came to Xia Yu's office.

Seeing Wang Qi's mental outlook and natural temperament, Xia Yu was very satisfied.

"Wang Qi, I am calling you over this time because there is an important task that I want to entrust you to do."

"It is not suitable for others, and I am not at ease."

Hearing Xia Yu's words, Wang Qi solemnly said: "Chairman, please make arrangements. I promise to do my best to implement it."

Xia Yu smiled and said lightly: "To do this well, you have to invest most of your energy. You can't manage Jiuding Securities. Let Yuan Tianfan continue to take over."

"Any comments?"

Wang Qi shook his head decisively and said: "I have no opinion, I will completely obey your arrangement."

Xia Yu nodded in satisfaction, then took a piece of material from the left hand and placed it in front of Wang Qi.

"Let's take a look first, this is what I want you to do."

With curiosity, Wang Qi picked up the materials and opened the cover. After seeing the words "asset management", he immediately understood.

In the field of asset management, he is no stranger, because Jiuding Securities is doing it now.

Of course, the asset management company is a subsidiary of Jiuding Securities Co., Ltd., and the scale is not large.

On the contrary, the asset management department of Jiuding Bank is even bigger.

Jiuding Insurance Company also has an asset management department.

However, the current asset management business of Jiuding Bank and Jiuding Insurance Company is different from that of Jiuding Securities. The first two companies managed their own assets and did not open external businesses.

On the contrary, the asset management subsidiary of Jiuding Securities Co., Ltd. is the entrusted asset management.

This entrusted asset management is different from the nature of the business of Jiuding Trust Company.

This time, since the chairman of the board asked him to discuss this matter alone, it must be that the status quo is not satisfactory enough.

The truth will be clear after reading the materials.

With a series of doubts, Wang Qi quickly read it.

This material is actually a report on the global asset management industry surveyed.

The asset management industry originated very early, as early as the eighteenth and nineteenth centuries.

For example, the parent company of Xiangjiang Baoyuan Investment Company, Schroder Group, was an asset management company established in 1804.

The reason why the general public is not familiar with it is that the asset management industry, from the very beginning, has not faced the general public.

Unlike banks, securities companies, etc., they have a lot of dealings with the general public.

But in the asset management industry, the market is extremely broad and it is also a predator.

The four major domestic amcs in the later generations, Huarong, Great Wall, Dongfang and Xinda, are all giants.

But when compared with foreign asset management giants, it's nothing short of a big picture.

For example, BlackRock, the world's largest asset management group in the future, has assets under management of up to 7.3 trillion US dollars.

The second place is the Pioneer Group in the United States, with assets under management of up to 6.1 trillion US dollars.

UBS Group, State Street Global Investment Management Group, Fidelity Investment Group have more than three trillion US dollars.

Allianz Asset Management Group, **** Asset Management Group, Goldman Sachs Group, Bank of New York Mellon and Pacific Investment Management Group have more than two trillion US dollars.

There are more asset management giants with more than one trillion US dollars.

The influence of any asset management group is amazing.

Because you can see these asset management giants among the top ten shareholders of any listed Fortune 500 company in the world.

Because of this, the influence of these asset management giants is spread all over the world, and the resources that can be obtained are not bottom-less.

Although the business of an asset management company is simply to manage wealth on behalf of customers, the money comes from customers, individual investors or institutional investors, including government or local government pensions, foundations, donations, official institutions, and financial institutions. And businesses, etc.

But influence is not calculated in terms of ownership, but in terms of usage rights.

Regardless of who gives power, the key depends on who holds it.

Because those in power are in direct contact with all sectors of society.

Of course, these are the great giants of later generations.

According to the current investigation, BlackRock, the king of asset management, has not yet registered, and there is no shadow.

The Bank of New York Mellon did not even appear, and now only the Bank of New York and Mellon Financial Corporation have not merged.

Such as Pacific Investment Management Group, Fidelity Investment Group, Pioneer Group, etc., have only been established for ten or twenty years. Although they are now large companies, they have not yet entered the top ten fields in the world.

In this era, the number of asset management companies is extremely large, and there are also many investment opportunities. This makes the phenomenon of big fish eat small fishes in the field of asset management are not many.

Therefore, on a global scale, no asset management group has more than 100 billion U.S. dollars in assets.

trillions or even six or seven trillion US dollars in assets, in this era when money is still very valuable, it is a fantasy, no one dares to imagine.

...

Time is passing fast.

is the effort of two cups of tea.

Wang Qi read all the materials in his hands.

After putting down the materials, he said to Xia Yu: "Chairman, are you planning to re-establish an asset management company and let me manage it?"

Xia Yu smiled and nodded: "That's right."

"Is there any pressure?"

Wang Qi smiled bitterly and said frankly: "There must be pressure, but I have absolute confidence to build it."

"I just want to become a global asset management giant, I don't have much confidence."

In the material just now, he saw information about asset management giants in the United States and Europe.

He has heard of these companies.

In Asia, especially the Southeast Asian generation, even in island countries, he is confident that he will build an asset management company because the Jiuding Consortium has a huge influence in Asia.

As soon as the asset management company is established, he will let go, and countless amounts of money will be asked to be delivered to the door to be managed.

One more thing, as far as the asset management market is concerned, the intensity of competition in Asia is not as strong as in Europe and the United States.

But if you want to enter the European and American markets, it is extremely difficult, because the opponent has a local advantage.

Huge funds such as pension funds, school education funds, government sovereign funds, etc., will not be easily managed by foreign companies.

What's more, the financial markets in Europe and the United States are already super prosperous, and Wall Street in the United States is the core of the global financial industry. There are predators there. Even if Wang Qi is confident, he will not think that he can run wild on Wall Street!

How is this competition?

Wang Qi's worries, Xia Yu heard it.

He smiled and said, “It’s good to have pressure, but don’t underestimate yourself.”

"In fact, in the financial industry, as far as investors are concerned, the relationships and factors do not make real profits."

"As long as it can bring enough profits to investors, build up the reputation and brand, and don't have to look for it, investors will lick their faces and send money to the door."

If it weren't for this reason, future generations of BlackRock, Pioneer Group and other giants would not grow so fast.

Investors are asking for management in billions or even tens of billions of dollars.

"Chairman, I understand that I will do my best."

Wang Qi took a deep breath and solemnly promised.

"Don't worry, have a cup of tea first, and listen to my request."

"It's actually not as difficult as you think."

Xia Yu smiled, and after Wang Qi had a cup of tea, he continued talking.

"Although asset management companies are different from securities companies, they also overlap greatly."

"It is not impossible to expand Jiuding Securities into an asset management company, but it is not necessary. Jiuding Securities aims to be a world-class investment bank."

"A new asset management company whose business includes asset management, investment management, corporate management, and entrusted asset management. The income includes asset management fees for drought and flood protection, and investment income sharing."

"Actually, for this company, my goal is not to make money. The company's operating profit is not my pursuit, do you understand?"

Wang Qi was taken aback, contemplating his eyebrows.

After a while, he asked uncertainly: "What do you mean is to drastically reduce asset management costs and the share of investment income, so as to gather as much capital as possible into the company?"

"Then use the money to invest in fancy assets in advance, and then take over when it is about to be acquired?"

Xia Yu smiled and said with satisfaction: "It's good that you can think of this far."

Hearing this, Wang Qi also showed a humble smile, and his heart settled.

He guessed right.

This involves the general investment logic of the market.

for example.

Suppose Xia Yu is going to acquire Texas Instruments in three years.

If he allows Polaris Capital to come forward, then the current image of billion Polaris Capital will be immediately regarded as a malicious merger, and the acquisition cost will be extremely high.

Even a normal acquisition must have a high premium. A slight stock market movement is exposed, and the stock price of Texas Instruments Group will soar.

But if the asset management group is allowed to come forward, the nature will be different.

The image that the asset management group wants to build is the appreciation of global investment, which is a stable price investment. Even if it will do the same merger and acquisition business as the Goldman Sachs Group, it will not change the nature of its price investment.

Therefore, it would be easy for the asset management group to go to the stock market to purchase the shares of Texas Instruments Group, but the original shareholders would welcome it because it introduced a super heavyweight shareholder as the ballast of the stock price.

Even if it is the acquisition of the original shareholder’s equity, it will not cause huge disturbances and the original controller’s vigilance.

In this case, the difficulty and cost of acquisition will be much lower.

But price investment, in the final analysis, is for profit. If there is a certain profit, it is normal for the asset management group to sell the shares of Texas Instruments Group.

After a year or a half of the storm has subsided, Xia Yu can completely transfer the equity of Texas Instruments Group held by the Asset Management Group to other companies of his own at one time. As for the price, that is As long as it doesn’t lose money, investors can’t question insider operations.

Compared with direct acquisition, such an acquisition process has one more link and it takes longer.

But the advantage is very obvious.

can save huge acquisition costs, and can increase the success rate of mergers and acquisitions.

The cost saved here is actually the hidden profit Xia Yu obtained.

Compared with this profit, what asset management fees, what investment income share, that's a shit!

If you don’t have this investor’s money, and you go to the bank to borrow money to buy, the bank interest and handling fee alone will be higher than the asset management fee and investment income share, and it will also bring huge risks.

In conclusion.

The purpose of Xia Yu's establishment of an asset management group is to use other people's money to help himself invest, and while saving money for himself, investors have to be willing to pay for entrustment!

And compared with small and medium investors, these high-quality individual investors and large institutions, because of the amount of assets entrusted to invest, the requirements for profit are not so high!

After all, everyone who understands investment knows that one million U.S. dollars doubles in a year, and 10 billion U.S. dollars makes 5% of the profit a year. The difficulty is very different!