What exactly is license plate No. 9? Why are you so anxious to apply for private equity? Which private placement applications were successful? What's there
Require
? What are the current channels for private equity investment overseas?，Which ones are more reliable? What are the future prospects? What exactly is license plate No. 9? Why are you so anxious to apply for private equity? Which private placement applications were successful? What's there
Require
? What are the current channels for private equity investment overseas?，Which ones are more reliable? What are the future prospects?
recently，Many domestic private equity institutions are very enthusiastic about going overseas.，Chongyang Investment、Fushan Investment、China Shepherd Fund、Wangzheng Capital and many other private equity firms launched a craze for overseas ventures，纷纷在香港成立子公司、Issuance of fund products。基金君听说，在这种风潮影响下，现在香港9号牌照排队申请的机构也越来越多，甚至出现了非常紧俏的局面。
虽然现在私募做海外业务的渠道有很多，但9号牌照无疑还是最适合私募管理人的，一些具备实力的机构都争相在香港申请9号牌照，大展拳脚。那究竟什么是9号牌照？私募为什么都急着申请？哪些私募申请成功了？有什么
Require
? What are the current channels for private equity investment overseas?，哪些比较靠谱？未来前景如何？都随基金君来看看吧。
私募申请9号牌照很火爆 据说难度越来越大什么是9号牌照？
Let Mr. Fund tell you first.，It is said，The Hong Kong market implements a financial license management system，Financial institutions can conduct stock trading at the same time、financial derivatives、Trading in foreign exchange and gold，But you need to apply for a license，Specifically，There are 10 types of license plates，There are numbers 1 to 10，1No. is securities trading，2No. is futures contract trading，3No. is leveraged foreign exchange trading，4号是就证券提供意见……9号是提供资产管理，10号是提供信贷评级服务。
中间还有不少，基金君下面的表格奉上，小伙伴们可以看看。那9号牌照到底怎么好了？据了解，9The license is a Type 9 regulated business qualification license issued by the Securities and Futures Ordinance of Hong Kong.，i.e. asset management license。Domestic private equity institutions hold this license，It means obtaining a "pass" in the international capital market，Not only can you directly participate in overseas investments,，It can also attract funds from overseas investors。
At present, No. 9 license plate has become the most popular type of license for many mainland institutions.。A private equity firm in Shanghai that obtained license No. 9 also said so，9There are many things you can do with your license plate，For example, helping clients with overseas asset allocation，It can also engage in diversified businesses such as investment consulting.，At the same time, investment methods and tools are more abundant.，And can attract overseas funds to invest in the domestic market。
No wonder more and more private equity firms are applying for licenses recently，“License No. 9 is for asset management business.，Most suitable for private equity
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，Since last year, more and more private equity institutions have applied for license No. 9。There are statistics，Year 6、7May is the peak period for applying for No. 9 license，Growth exploded。"Liu Yu, a researcher at Geshang Financial Management, told Fund Manager。
In this case，The work of the Securities and Futures Commission of Hong Kong is not easy.，So fund managers listen to some private equity feedback，It is said that it is more difficult to approve the No. 9 license now.，may become more stringent，Regulations may be tightened。The chairman of a medium-sized private equity firm in Shenzhen reflected，9The license itself is difficult to apply for，So now although it has become a trend，Many organizations are applying，But I heard that the control may become stricter in the near future.，It’s becoming more difficult to apply。
So what exactly is involved in applying for the No. 9 license?
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，Fund guys will also break it down.。heard，Hong Kong Securities and Futures Commission regulations，Applying for a license requires 2 Hong Kong licensed responsible persons，The licensed responsible person needs to have 3 to 5 years of continuous public performance records in the capital market and must pass a series of rigorous examinations and qualification reviews.。at the same time，Enterprises also
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Have a physical office address in Hong Kong，Have an experienced management team to assist in running the company。
all in all，It just requires relatively strong private equity capabilities to do it.。Domestic private equity institutions now，Who has obtained the No. 9 license plate?。据统计，At present, Fushan Investment, a well-known domestic private equity institution、Jingtai Lifeng Assets、Bai Fang Assets、ivy assets、Tianma Assets、Infore Capital、Qiju Assets、Yifan Assets、Value Gravity and others have obtained the “No. 9 license” for asset management business.。Some of them were obtained in the past year or two.，Some get it earlier。
基金君还知道，大私募中重阳投资、Jinglin Assets、Danshui spring investment、赤子之心投资、Zhuque Investment、Oriental Harbor、Yitian Pavilion Investment，There is also a brother, Wang Yawei, who has obtained the Hong Kong No. 9 license for his top assets.。Specifically, their awesome English name and registered address，Take a look。
Comparison of various private equity overseas channels. There are different private equity options with advantages and disadvantages. Nowadays, private equity overseas is becoming more and more active.，But the most suitable No. 9 license plate is difficult to obtain.，Aren’t the friends all anxious?。Fund Jun thinks，Don't worry，Because now the Shanghai-Hong Kong Stock Connect is open，Shenzhen-Hong Kong Stock Connect is coming，QII、QDLP is a long list of things，There is also a borrowed passage，How to be an investment advisor。It is understood，Now it is said that there are 5 reliable methods，But each has pros and cons，Friends can make comparisons。
First，Shanghai-Hong Kong Stock Connect，Configure Hong Kong market，But only within the scope of Hong Kong Stock Connect，Participating markets and varieties are limited；second，QII，Borrow QDII quota from financial institutions such as public offerings，A certain channel fee is required，As QDII quota gradually becomes tighter,，Channel fees continue to increase；third，Set up a company in Hong Kong，Obtain license number 9，Release products，However, holding a license in Hong Kong requires a lot of manpower、Material resources，The time cost is also higher；fourth，Issuance through overseas private equity managers，Participate as an investment advisor，But you also need to pay a certain amount of channel fees；fifth，QDLP，Go overseas through the QDLP quota of overseas asset management companies，Generally applicable to products invested directly in corresponding overseas asset management companies。
My friends want to ask，What is QDLP? QDLP is aimed at overseas hedge funds，Can directly raise funds domestically，Hedge fund products invested in overseas asset management institutions。Because usually，Domestic money must go out through QDII，But you cannot invest directly in hedge funds，Only stocks and bonds can be invested，But Shanghai’s policy on hedge funds，You can use QDLP quota，Raising RMB funds domestically，Invest money directly into overseas products。
certainly，This doesn’t seem to be of much use to private equity，It is mainly an option for investors to invest in overseas markets.。In fact, in comparison，Each channel has its pros and cons，Private equity partners can choose by themselves。基金君听说，Some private equity institutions choose the "curve" to expand overseas business。
Liu Yu said，“Because the cost of the No. 9 license plate is relatively high,，Nowadays, some private equity firms simply do not obtain their own licenses.，Instead, the manager with the No. 9 license is used as a channel.，They serve as investment advisors to distribute products，This is one of the more mainstream models。"It is said that，OP Asset Management is doing better in this area of business。
They obtained license number 9 as early as 2003，Started entering the Chinese mainland market in the fourth quarter of last year，At the same time, it provides comprehensive services for mainland private equity institutions in issuing offshore funds.。OP Asset Management recently cooperated with Shenzhen Daopu Capital，Daopu Capital plans to launch its first Chinese offshore fund with quantitative long-short strategy in the fourth quarter of 2016。
September 1 this year，东英金融集团携东英资管正式宣布其将投资20亿港元资金于东英资管基金平台上的新锐基彭易经理。大家肯定很好奇私募海外投资的模式，基金君也为大家解读一下。It is understood，拿到9号牌照的私募，可以在开曼设立私募基金，然后在香港落地，接受香港证监会监管，再在券商进行交易。Customers can subscribe through securities firms in Hong Kong。
Customer demand is a key factor, and the development of private equity itself requires the final，Let me briefly tell my friends why so many institutions are rushing to apply for the No. 9 license.。According to reports，Private equity now wants to invest overseas，There are several main reasons，First, the expectation of RMB depreciation，Second, the country is facing an asset shortage.，High cost of capital，Third, domestic supervision has become stricter，Consider exploring international markets，Fourth, the foreign investment system is more complete.，More variety。
RMB depreciation，Customer overseas configuration requirements，This is the direct reason why many private equity investors consider going overseas.。The chairman of Shenzhen Private Equity told Fund Manager，There is currently depreciation pressure on the RMB，Domestic customers have needs for overseas asset allocation，hoping to avoid depreciation，Get better investment returns at the same time。Moreover, domestic customers have been seriously injured since the stock market crash.，Related products were not easy to release in the first half of the year。
he introduced，“There are mainly two types of clients who come to us to invest overseas.，First, domestic customers want to invest their domestic funds overseas through private equity.，avoid depreciation；Second, domestic customers also have needs to allocate their overseas assets.，I hope to find private equity to help take care of it.。”除了客户的需求，对于海外投资品种、投资工具的青睐等，也是私募在这个阶段积极拿牌照出海的原因。
格上理财研究员刘豫表示，去年开始，很多做量化的私募逐步参与海外市场，由于国内可以使用工具本来少，而且股指期货受限，他们的策略和容量受到较大限制，They have the desire to explore overseas investment varieties，Rich investment tools。
There is another situation，Liu Yu also said，The impact of Shenzhen-Hong Kong Stock Connect opening policy，Increase overseas investors’ allocation of domestic demand，You can obtain relevant qualifications for private equity overseas，Recognized by overseas investors，Can expand the business，For example, some large private equity firms are seeking foreign institutional investors.。
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