In 22 years, the investment veteran "Ben Private", once managed 90 billion securities firms self -employed

China Fund reporter Liu Ming

Not afraid of market turmoil, and some investment veterans are playing private. Different from a large number of public fund managers, this time is a "old driver" who pursue absolute income.

On July 24, Hainan Hengli Private Equity Fund Management Co., Ltd. (referred to as "Hengli Fund") officially opened. Pan Huanhuan, the founder of the company, is a veteran who has 22 years of investment research. He graduated from Dr. Harbin Institute of Technology. -In 2022, he served as the general manager of Guoxin Securities Securities Investment Headquarters (self -employed department). During the management of Guoxin Securities' self -employed investment, it is positive every year.

In February of this year, Pan Huanhuan resigned from Guoxin Securities, and then began to organize Hengli Fund. According to the China -foundation Evolutionary Information, the Hengli Fund was established on March 8 this year, and the registration time was July 1. Pan Huanhuan's filing information shows that before the establishment of private equity, from June 2016 to February 2022, he served as the leader of the National Self -Organization Department.

According to the China Securities Association data, the net assets of Guoxin Securities at the end of 2021 were 94.3 billion yuan, ranking 9th among the brokerage industry. According to reports, Pan Huanhuan's self -management scale in Guoxin Securities also reached about 90 billion, of which 80%of them allocated bond assets and 20%of investment equity assets. The annual report of Guoxin Securities showed that investment income in 2021 was 7.436 billion yuan, an increase of 2.543 billion yuan and 51.96%year -on -year.

Unlike public funds with relative returns, securities firms are more pursuing absolute returns. Pan Huanhuan, who was self -employed by a broker, said that the establishment of a private equity main attack is a macro -multi -strategy. Through multiple types of asset allocation, it strives to create a "bridge water fund with Chinese characteristics" and pursue the stability of performance.

Pan Huanhuan said that the three major investment concepts of Hengli Fund are: retreat will harm compound profit, multi -asset portfolio can be stable and pursue the certainty of income. Pan Huanhuan said that the investment strategy of Hengli Fund is a combination of multi -assets and multi -strategies. The company's multi -strategy covers four major investment sub -strategies, namely stock multi -header strategies, fixed increase combination strategies, convertible bond combination strategies, and cross -market arbitrage strategies. The company's investment team has deep historical experience in these four investment sub -strategies.

Taking arbitrage strategy as an example, Pan Huanhuan said that in 2019, it was found that new shares had a good opportunity for new shares to maximize investment income by purchasing appropriate scale to maximize the new fund; as well as the opportunity of arbitrage opportunities before GDR and A shares, and so on. However, the market often only rewards investors who are preferred, and arbitrage opportunities are often short -lived.

Edit: Captain

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