The Fate Of Short-Term Financial Funds Is Worrying, Many Products Are Being Spanformed Or Terminated.

In order to improve the scale and operation efficiency, various short-term financial funds that emerged in 2012 are now facing the test of destiny. Some mini funds have been retained as investors' concerns. Fund companies are also reflecting on how to maximize the interests of investors. Some short-term financial funds choose to modify the operation period, for example, the 21 day of Dacheng financial management is changed to Dacheng monthly profit. Penghua financial management is changed to Penghua monthly for 21 days. The Everbright Baode Xin Tian Tian Ying quarterly financial management is changed to Everbright Baode monthly financial management.

For the fund industry, spanformation is not new. In 2014, with the decrease of liquidity and the decline of scale, many short-term financial funds announced the spanformation. Among them, Wanjia's financial management was spanformed into ten thousand daily wage currencies for 14 days, and the southern financial management was spanformed into a 30 month South income treasure currency. Cathay Pacific's 6 month financial spanformation became Cathay Pacific. Debt advantage 。 Insiders say that the spanformation is not a minor change to the fund contract, but a new fund. Because of similar risk and earnings and relatively small impact on investors, short-term financial funds will still choose to open regular debt fund or monetary fund regularly.

In addition to spanformation, liquidation has become the choice of many mini funds. Huitianfu announced in August 2014 that it would terminate the operation of the 28 day financial fund and become the first case of the termination of the contract by the public offering fund, which broke the tradition that the public fund is "only alive". Then, in December 5, 2014, the currency of the Moldova Huaxin also issued a notice, which decided to terminate the fund's fund contract, and said that the reason for liquidation was "market environment changes, so as to better meet the needs of investors and protect the interests of the holders of fund shares." In December 10th, the Fu Fu Fund issued a notice announcing the termination of the fund contract by the 7 riches of the rich country. The reason for liquidation is also the change of the market environment, so as to better protect the interests of the fund share holders in order to meet the needs of investors. According to the latest news, at the beginning of the new year in 2015, Guang Fa quarterly interest bonds. fund Also began to enter the liquidation process.

The fund has been operating for seven years and 7 days in rich countries. Financial treasure It has been running for more than two years, and Guang Fa Ji Li Li was founded in September 2014. Small scale and poor earnings are the main reasons why the mini fund can not continue to operate. Compared with the scale of just over billions of dollars that had just been established, these funds finally ended up in the scale of less than 100 million yuan. Up to now, the number of short-term financial funds that touches the red line is still increasing. But before August 2014, the major public fund management companies would rather choose to die or carry out liquidation, because it is not a glorious thing to listen to the liquidation.

However, the industry believes that winding up may be the best choice for the mini fund when it is in a difficult position. Too small a scale will have a greater impact on the allocation and use of resources, and will also have a greater impact on the investment of fund managers, which will ultimately affect the income of fund holders.

Experts pointed out that the central bank expected to reduce the accuracy of short-term market funds to ease tension, and the future of China will enter the interest rate cycle to become a probability event, monetary policy will also be partial loose. It is estimated that the yield of short-term financial market will continue to be callback after this reduction. In addition, the A share market will pick up, and the financial fund will return to the stock market. In the future, short-term financial funds will also face more and more liquidity, and the liquidation will become a new normal.

In the short span of 2 years, it has gone through the process of extreme prosperity and extreme decline. It also poses new challenges to the fund company's ability to develop new products, and it also reminds the fund companies to "catch up" risks again. In 2012, under the good normal role of two billion yuan short term financial funds, fund companies began to gather together to issue short-term financial funds. Until the stock market improved in 2014, some fund companies are still issuing short-term financial products which are not seen by the market. The result is "flash in the pan".