On March 31, Zhou Yingbo, a fund manager who resigned from China Europe Fund, registered a new company with the Shanghai Market Supervision Administration – Shanghai Ocean Boat Private Equity Fund Management Co., Ltd., adding another case of “running to smuggling”, a star public fund manager.
It is worth noting that Zhou Yingbo previously indirectly held the shares of China Europe Fund through the China Europe Fund’s employee shareholding platform, which has not yet been disposed of, but according to the reporter’s understanding, the relevant equity will most likely be transferred next.
As of the end of the fourth quarter of last year, Zhou Yingbo’s funds under management exceeded 60 billion yuan, and he had unearthed bull stocks such as Luxshare, Pro Pharmaceuticals, and Jinyu Medical. He also publicly stated that he would be in the booming industry. In-depth research.
A new company was established on March 31
The reporter learned from the National Enterprise Credit Information Publicity System that Shanghai Ocean Boat Private Equity Fund Management Co., Ltd. was established on March 31 and registered with the Shanghai Municipal Administration for Market Regulation. The legal representative of the company is Zhou Yingbo, who is a well-known domestic fund manager who had previously left China Europe Fund.
Source: National Enterprise Credit Information Publicity System
According to the announcement of China Europe Innovation Future, a subsidiary of China Europe Fund, on March 31, the fund manager Zhou Yingbo has left his post on March 30, due to personal reasons, and has gone through the change procedures at the China Fund Industry Association as required. The front and back are closely connected, and Zhou Yingbo will flex his muscles in the private equity industry next.
Enterprise information shows that the business scope of Shanghai Ocean Boat Private Fund Management Co., Ltd. includes private securities investment fund management services (the business activities must be completed after registration with the China Securities Investment Fund Industry Association). With the business license, they can independently carry out business activities in accordance with the law. The reporter checked the filing status of the China Securities Investment Fund Industry Association about the private equity fund manager, and there is currently no relevant filing information about the company.
Shanghai Ocean Boat Private Equity Fund Management Co., Ltd. has a registered capital of 20 million yuan. All of the existing shareholders are natural person shareholders. Among them, Lu Wenjun was the investment director of the absolute return strategy group of China Europe Fund. He joined China Europe Fund in September 2013. He used to be the deputy general manager of Yinhua Fund, and concurrently the vice chairman of the A-share fund investment decision-making committee, the investment director of A-share funds, the preferred stock of Yinhua core value, and the manager of Yinhua harmony theme mixed fund.
Other shareholders include Fu Min, Lu Yiwen, Liu Lei, and Zhai Peng, totaling 6 people. According to Qixinbao data, Zhou Yingbo holds 47% of the shares, and the subscribed capital is 9.4 million yuan, which is the actual controller and ultimate beneficiary of the company; Lu Wenjun holds 32% of the shares; Liu Lei, Zhai Peng, Lu Yiwen, Fu Min The shareholding ratios are 15%, 2%, 2%, and 2%, respectively.
Zhou Yingbo still indirectly holds shares in China-Europe Fund
Zhou Yingbo is a shareholder of Shanghai Muyi Investment Management Partnership (Limited Partnership) with a shareholding ratio of 1.5%. It is worth noting that the partnership is also one of the shareholders of China Europe Fund. According to Qixinbao data, the investment ratio is 20%.
It can be seen that even though Zhou Yingbo left China Europe Fund, he still indirectly held the equity of China Europe Fund through Shanghai Muyi Investment Management Partnership (Limited Partnership). In the information of the partners of Shanghai Muyi Investment Management Partnership (Limited Partnership), the reporter found that in addition to Zhou Yingbo, there are also a number of Sino-European fund related persons such as Ge Lan and Cao Mingchang, who are involved in public fund managers, Sino-Europe Wealth and other related business lines.
Description: Partner information of Shanghai Muyi Investment Management Partnership (Limited Partnership)
Industry analysts pointed out that from the perspective of equity structure, Shanghai Muyi Investment Management Partnership (Limited Partnership) is a shareholding platform for the core employees of China Europe Fund, so it should be held first and then resign. The shares of the core employee shareholding platform shall be transferred.
“At present, Zhou Yingbo has just resigned from CEIBS, and the transfer should not be so fast, but this part of the equity will theoretically be recovered.” Some people in the investment community said in an exchange with reporters that due to the management of each company’s shareholding incentives The method is different. It is too early to discuss the details of equity recovery, but this should be done.
Shen Meng, executive director of Chanson Capital, also said in an interview with a reporter from “Daily Economic News” that similar employee stock ownership platforms are different from incentives, but are used to share the profits of fund companies and are used to deeply bind core key personnel. Handcuffs” platform.
He has excavated Luxshare Precision and Puluo Pharmaceuticals, and paid attention to the booming industries.
In fact, Zhou Yingbo left several funds under his management as early as last December, including CEIBS Mingrui New Normal, CEIBS Era Pioneer, CEIBS Visionary Two Years, etc. CEIBS Innovation will continue to stay in office for the next 18 months until this year 3 At the end of the month, according to the announcement, the closed operation period of China Europe Innovation for the next 18 months will expire on April 10 this year, and the daily subscription, redemption, fixed investment and switching business of OTC funds will be opened from April 11.
Looking back at the funds that Zhou Yingbo left and managed in CEIBS, there are a total of 7 funds. As of the fourth quarter of 2021, its total management scale reached 60.584 billion yuan. Among them, CEIBS Times Pioneer, CEIBS Mingrui New Normal and other products performed well, all of which are in the same market. Top of the category products.
The evaluation of Zhou Yingbo in the industry said that he is accustomed to band operation, has a high turnover rate, prefers the growth style of small and medium caps, and pays attention to the prosperity of the industry. He himself has also publicly stated, “My investment style is to rotate the industry according to the industry’s prosperity. Every year and every quarter, I will pay attention to the industries with the upward prosperity, and select the industries that I will focus on this quarter or this year as the key allocation. .”
It is reported that Zhou Yingbo unearthed Luxshare Precision in 2016, Puluo Pharmaceuticals in 2017, Mango Supermedia in 2018, and Jinyu Medical in 2019, all of which have basically doubled. Although he resigned as the fund manager of several funds in the fourth quarter of last year, from the perspective of previous allocations, some individual stocks are the targets of his long-term heavy positions.
Taking the pioneer of the China-Europe era as an example, in the third quarter of 2021, the top ten holdings include not only popular industry leaders such as new energy, but also traditional companies such as Postal Savings Bank and software manufacturers such as cloud computing manufacturer Sangfor. Among them, Ganfeng Lithium and Sangfor held for seven consecutive quarters; CATL held for five consecutive quarters, and Postal Savings Bank and Hikvision also held for three quarters.
Source of cover image: Photo Network_500471022