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The original title has another brokerage applying for a fund custody license! During the year, the number of applications from 5 companies has increased to 8. Why is it so popular?
Recently, information from the China Securities Regulatory Commission showed that BohaisecuritiesApplicationfundThe custodian qualification materials have been received by the China Securities Regulatory Commission.
Bohai Seasecuritiesbecome a successorSoochow Securities、Northeast Securities、Dongxing SecuritiesXiangcaisecuritiesAfter that, the fifth company to apply for fund custody qualification within the yearbrokerage. Up to now, there are 8 securities companies lining up to apply for the qualification of fund custodian.
The reporter noticed that in January, June and October of this year, there wereNanjing Securities、Eastern Fortunesecurities,first ventureThe securities have obtained the qualification of fund custody. Under the intensified competition in the industry, the diversified business capabilities and internal coordination capabilities of securities companies have become the main competitive advantages, and the deep cultivation of the institutional business field depends on the help of fund custodian qualifications.
This year’s 5th securities company to apply for qualifications
More and more brokers are chasing fund custodian business licenses.
Recently, the official website of the China Securities Regulatory Commission showed that the application materials for the qualification of Bohai Securities Fund Custodian have been accepted by the China Securities Regulatory Commission. This is the fifth brokerage firm to apply for this license this year. Previously,Dongxing SecuritiesXiangcai Securities,Northeast Securities、Soochow SecuritiesThe application materials have also been accepted by the CSRC.
It is understood that the so-called fund custodian refers to a financial institution that is completely independent of the fund management institution, has certain economic strength, has a paid-in capital of considerable scale, and has industry reputation.
Bohai Securities is the only company registered in TianjinBinhai New AreaThe comprehensive securities company officially opened on June 8, 2001. In July 2008, approved by the China Securities Regulatory Commission, the company was restructured into a joint stock limited company.Tianjin TEDA International Holdings (Group) Co., Ltd. is the holding company of the companyshareholder. Tianjin State-owned Assets Supervision and Administration Commission is the actual controller of the company. The company is headquartered in Tianjin, and has 21 branches and 45 securities business offices in Tianjin, Beijing, Shanghai, Guangdong and other important provinces, cities and regions across the country.
According to the ranking data of the China Securities Association in 2021, the total assets of Bohai Securities are 62.5 billion yuan, ranking 37th in the industry; the revenue is about 2.8 billion yuan, ranking 38th in the industry;net profit1.8 billion yuan, ranking 27th in the industry.
A relevant person in charge of the asset custody business of a securities firm told reporters that the custody business license is conducive to the diversification of the securities business. This business itself is not profitable, but it can generate other business opportunities such as driving institutions to open accounts, FOF and other business opportunities. also pay more attention.
During the operation of the fund, the fund custodian has the functions to safely keep all the fund assets, execute the investment instructions of the fund manager, supervise the investment operation of the fund manager, and monitor the net asset value of the fund calculated by the fund manager and the preparedFinancial StatementsResponsibility for conducting reviews.This means that if the brokerage has the qualification of fund custodian, andfund companyThe business stickiness between them is stronger than that of brokerages without fund custody qualifications.
30 securities firms have been qualified as custodians
In the eyes of industry insiders, in the future competition of securities companies, business diversification capabilities including license qualifications, as well as the company’s internal coordination capabilities, may become a weapon for securities companies to compete with peers.
The Chinese reporter of the securities company noticed that a total of 14 institutions are currently applying for the qualification of fund custodians, of whichbank6 and 8 securities companies.Brokers haveWestern SecuritiesCaixin Securities,Tianfeng Securities、Dongxing SecuritiesXiangcai Securities,Northeast Securities、Soochow SecuritiesBohai Securities.bankHSBCbank(China), Mongolian Commercial Bank, Chongqing Rural Commercial Bank, Shanghai Rural Commercial Bank, BNP Paribas, etc.
Since the beginning of this year, there have beenNanjing Securities、Eastern Fortunesecurities,first ventureThe securities have obtained the qualification of fund custodian. Up to now, a total of 30 securities companies have the qualification of fund custodian, and most of them are leading securities companies.
In the past two years, with the implementation of new regulations on asset management and the reallocation of residents’ wealth management, the scale of public funds and private funds has continued to grow, becoming important institutional investors. Institutional business has also become the focus of the transformation of securities companies, and obtaining the qualification of fund custodian can help the rapid development of the institutional business of securities companies.
China Merchants SecuritiesbeforeResearch reportIt shows that the development of diversified business around institutional business will help to increase the income of multiple business chains and increase the overall income level of securities companies. According to statistics, in 2021, the business income of securities industry institutions will be about 104.5 billion yuan, a year-on-year increase of 51%, much higher than the 12% growth rate of revenue.
The reporter noticed that due to the early deployment of banks, most of the public fund custody business is currently in the hands of banks. In recent years, securities companies have continued to attack the private equity fund custody business to gain market share. However, in the private placement custody share, the internal differentiation of securities companies is also obvious.
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Responsible editor: Wang Han