In half a year, minsheng Plus silver 5 debt announced the liquidation of its mini fund more than 10


Minsheng + Silver Fund recently a liquidation announcement caused market concern: Minsheng + Silver + Tianxin pure bonds due to trigger contract termination clauses into the liquidation process.It is the fifth fund minsheng has liquidated in five months.At present, minsheng Bank fund reached the liquidation red line of the mini fund reached 16, of which 2 scale less than one million.According to the announcement, by the end of February 17, Minsheng Jiayin Tianxin pure bond has been less than 50 million yuan of net asset value of the fund for 60 consecutive working days, triggering the termination of the fund contract.According to the fund contract, the fund entered the liquidation process on May 18.On February 21, the last day of operation, the fund had only 4,578,900 shares left.On that day, the cumulative net value of minsheng Jianyin Tianxin pure bond A was only 0.8290 yuan.According to the starting date of liquidation, including Minsheng Jiaxin pure bonds, a total of 5 minsheng Jiaxin funds have been liquidated in the last 5 months, among which 4 funds have been liquidated because of triggering the contract termination clause, and 1 fund has been approved by the vote of the holders’ meeting.Last October, Minsheng Plus Bank Ruixin one-year fixed bond liquidation began;In December of the same year, Minsheng Plus Yinxing Li and Minsheng Plus Yinrunli liquidated.Among the 5 liquidation funds, Minsheng Plus Yinxingli and Minsheng Plus Yinrunli are partial debt hybrid funds, and the other 3 are medium – and long-term pure bonds.Some funds performed poorly before liquidation.Flush data (only statistics A share) shows that in the fourth quarter of last year, the net value of Minsheng Plus Silver Tian Xin pure bonds A fell 21.97%, Minsheng Plus Steady Tian Li A net value fell 11.19%, Minsheng Plus Yinxing Li fell 2.23%, Minsheng Plus Yinrunli fell 1.76%.Some of the products that are still in operation are also mediocre.In the fourth quarter of last year, the net value of MINsheng Plus Bank Xinxiang bond A fell by 24.17%, which was the worst quarterly performance of Minsheng Plus Bank fund and ranked the bottom of similar funds (first-level classification).Since the beginning of this year, the net value of 41 funds including Minsheng Plus Bank emerging industry hybrid A, Minsheng Plus Bank growth preferred stock, Minsheng Plus Bank credit double interest bond A, Minsheng Plus Bank convertible bond preferred A has fallen by more than 10%, and individual products have fallen by nearly 20%.Public information shows that the former fund manager of Minsheng Plus Bank Xinxiang bond is Lu Xin, director of fixed income department of minsheng Plus Bank Fund. He left last year and once managed Minsheng Plus Bank Smooth Add Li, Minsheng Plus Yinxing Ying bonds and other products.In terms of heavy positions, Minsheng Bank’s many debt base heavy positions in the real estate debt, which may be the main cause of its debt base plunge.In the fourth quarter of last year, many real estate companies exploded, dragging down the net value of the relevant fund performance.Data shows that Minsheng Silver still has some products near the liquidation red line.According to flush data, the combined size of 16 funds, including Minsheng Plus Jiayi Bonds, Minsheng Plus Huili Mixed funds, Minsheng Plus Kangli Mixed funds, Minsheng Plus Quality consumer funds and Minsheng Plus Credit Shuangli bonds, is less than 50 million yuan.The reporter noticed that the scale of minsheng Plus Jiayi Bonds and Minsheng Plus Bank China Bonds 1-5 years policy-based financial bond index is less than one million;The scale of China Minsheng + Yinkangli Hybrid, Minsheng + Yinhuili Hybrid and Minsheng + Yinhuili Hybrid is less than 10 million yuan, among which the largest minsheng + Yinhuili Hybrid is only 4.18 million yuan.According to the regulation, if the total number of fund companies’ mini-funds exceeds 10, the declared products will not be accepted;If there are more than 3 mini-funds of the same type, this type of products will not be accepted.Minsheng bank last submitted materials for new products on November 25 last year, and has not reported new funds since.Read: Sun Shijian

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