Chapter 108 Fund Rules Formulation

In fact, in a sense, such an outcome is the best win-win outcome.

However, when Su Yu held the 50% equity transfer agreement, Li Huiyuan certainly did not dare to hand over his trump card, so as to gamble on Su Yu's sympathy, or explain to Su Yu with reason that this was the perfect choice.

After all, human greed is always endless.

He did not have the slightest confidence, and dared to affirm that Su Yu would not add insult to injury when he knew that he could not repay the loan at all and would inevitably be overdue, and directly take over 'Yi Chuang Planning' and seize the fruits of his six years of hard work.

"Mr. Li, you are polite!" Su Yu laughed, "'Yi Chuang Planning' will surely be able to create glory again soon under your leadership after experiencing this ordeal. Of course... I also believe that today's investment of 5 million will surely become 50 million or even 500 million in the future."

After the two of them turned their interests from differences to consensus during the negotiation.

The subsequent conversation became much more harmonious.

Afterwards, around 8:40, the two of them walked out of the hotel room after having enough wine and food, laughing and chatting with each other.

"Mr. Su, I'll ask my assistant to take you home first!"

After the assistant paid the bill, Li Huiyuan stood outside the hotel room and said to Su Yu with a smile: "You've drunk a lot of wine, it should be inconvenient for you to drive."

"No, I'll just take a taxi back." Su Yu responded.

Then he was about to leave the hotel, at this time, a young man who came out of another private room suddenly stumbled and bumped into him.

Su Yu looked at the man's reckless appearance, frowned slightly, and was about to scold him.

Suddenly seeing the other person's appearance, he couldn't help but be slightly stunned.

The man, after seeing Su Yu, was also stunned in the same place: "Su... Brother Su?"

"Brother Huang Yu?" Su Yu stared at him, then looked through him and saw the private room he just came out of. There were several middle-aged men and several young women gathered inside, and he couldn't help asking, "Is your department party? Or... business wine?"

"Business wine!" Huang Yu tried to force a smile, "Where is Brother Su?"

"I'm talking about some business with General Manager Li." Su Yu pursed his lips.

Hearing Su Yu's words, Huang Yu noticed Li Huiyuan next to Su Yu this time.

Huang Yu met Li Huiyuan last time Shi Yuling celebrated her birthday. He knew that this man was the boss of his girlfriend's sister, who was worth a lot of money, and at worst he should be a multi-millionaire.

So after a brief delay, he couldn't help but quickly reach out his hand and greet Li Huiyuan.

"Hello, General Manager Li, I am the account manager of the wealth management business department of Qianjiang Bank. My name is Huang Yu. I hope to have the opportunity to cooperate with General Manager Li in the future." Huang Yu said with a smile.

Li Huiyuan glanced at him and didn't want to pay attention to him.

But for Su Yu's sake, he hesitated for a moment and shook hands with Huang Yu.

"Xiao Huang, are you ready?" While Huang Yu was developing business, a middle-aged man's voice came from the private room, "Mr. Lu is still waiting for you to drink, you owe three more cups!"

"Right away, right away..."

Huang Yu responded, looked at Su Yu apologetically, and said, "Brother Su, I'm so sorry, next time... I'll treat you to dinner next time."

"It's okay." Su Yu chuckled, "Go and do your thing!"

Huang Yu saw that Su Yu didn't care, nodded, and didn't go to the toilet. He turned around and prepared to return to the private room to continue accompanying the customer.

At this time, the middle-aged man who had urged in the private room suddenly poked his head out of the private room.

He glanced outside, grabbed Huang Yu, and was about to drag him back to the table. At this moment, he suddenly saw Su Yu's face, and quickly stopped, staring at Su Yu in great surprise, quickly stretched out his greasy hand, and greeted Su Yu happily: "Mr. Su, I didn't expect you to be here too."

"You are..."

Su Yu looked at the greasy middle-aged man in front of him with some disdain, and asked in confusion.

"I am the director of the financial customer department of Qianjiang Bank, my surname is Wang..." The middle-aged man hurriedly replied, "We met at Mr. Qian's dinner party."

"Oh, it turned out to be Director Wang." Su Yu shook his hand in surprise.

In fact, he had no impression at all.

"It's better to meet by chance than to invite." Director Wang said, "Can Mr. Su please have a drink?"

"I can't drink." Su Yu smiled and refused, "If Director Wang doesn't mind, you can invite me for tea next time."

"Then... I'll ask Mr. Su out next time." Director Wang was rejected by Su Yu, smiled awkwardly, and then pulled Huang Yu back in.

Su Yu saw Huang Yu come in, smiled at the middle-aged man sitting in the main seat, then raised his head and drank three glasses of white wine in a row, and couldn't help but sigh softly.

"The bank's wealth management customer department and the credit department are really two different worlds!"

While Su Yu sighed, Li Huiyuan also saw the situation in the private room and sighed: "Recently, various things between banking institutions are really too abnormal."

Su Yu glanced and smiled and said: "Even Mr. Li feels abnormal?"

"In previous years, loans have never been so difficult to approve." Li Huiyuan said, "And as far as I know, in previous years, bank wealth management and savings departments have never been so grandsons."

"Current events change, the situation changes!" Su Yu said, "Not surprising."

Su Yu estimated that the bank money shortage crisis at this time had just revealed its face. The central bank has been keeping a steady pace and not releasing money. I am afraid that the hard times are still to come.

However, this crisis...

For him who has a lot of cash, not only has no impact, but it is an excellent investment opportunity.

The two chatted and walked out of the restaurant. Then, at Li Huiyuan's insistence, his assistant finally sent Su Yu home first.

"Looking at your expression, the result of the negotiation should be very good?"

When Su Yu returned home, Li Meng saw him smiling and couldn't help asking.

"Fortunately, it's a win-win result!" Su Yu said with a smile, "Using 5 million to take 20% of the shares of 'Yi Chuang Planning', it's not a loss."

"Congratulations!" Li Meng also said happily.

Su Yu nodded and asked, "How is your company's preparation? Can it open on the 20th?"

"No problem." Li Meng said, "At present, all office equipment and personnel arrangements are ready. All the filing work, fund custody, and operation seats for our company's first issuance of new funds are also ready. Now, we just wait for the fundraising work to start."

"Okay, I'll notify the customers." Su Yu said, "You should also try to release the news."

"I, Liang Bin, Manager Yu... are already sending it out." Li Meng said, "I have a hunch that our company will be overcrowded on the 20th."

Su Yu laughed and said, "No Don't have too high expectations. At this point in time, the market's capital is tightening, and the recent market trend is also quite ugly. Although my seat still has some influence, at this juncture, there won't be too many clients who dare to entrust their funds to us for management. "

"However, raising 100 million or 200 million should not be a big problem."

"Oh, by the way, the law firm has the fund's subscription rules and contracts, right?"

Li Meng nodded and said, "It came out this afternoon. I'll show you the first version. If you want to change it, it's still in time."

As he said, Li Meng returned to the bedroom and handed a printed subscription contract to Su Yu.

The contract has the fund's filing number and important management terms that have been discussed and formulated by everyone, such as the fund's free subscription and redemption period, the investment lock-up period, and the fund's management fee collection method, the profit sharing method above the basic net value...

Of course, in addition to these.

There are also obligations and rights of ordinary investors and institutions formulated by the law firm in accordance with the laws and regulations of the fund industry.

Su Yu read the contract all the way down.

The important terms are marked with bold and eye-catching fonts:

The fund's free subscription and redemption period is one week after the net value of each period is settled. During this week, investors can subscribe freely or choose to redeem their investment shares. Except for this open period, the rest of the time is in a closed period, and subscription and redemption are not possible. The lowest net value settlement period is one year.

The fund management fee is collected in a tiered manner according to the net value settlement results.

That is, if the annual fund net value is less than 1, that is, the fund suffers a loss, no management fee will be charged; if the annual fund net value is greater than 1 and less than 1.2, that is, the annual profit is less than 20% and there is no loss, a 2% management fee will be charged; if the annual fund net value is greater than or equal to 1.2 and less than 1.5, a 3% management fee will be charged; if the annual fund net value is greater than or equal to 1.5, a 4% management fee will be charged.

And when the annual fund net value is greater than 1.5.

In addition to charging a 4% fund management fee, a 30% profit share will be charged after the fund's annual net value exceeds 1.5.

When the fund's annual net value exceeds 2.

For the fund's excess profit after exceeding 100% profit, the fund management company will charge 50% of the profit share.

"Do you have any comments?" Su Yu read the contract prepared by the law firm and found no problems, so he turned his head to ask Li Meng.

"Regarding the clause that the fund's annual net value is in loss, the management fee is exempted..."

Li Meng paused and said, "Can it be slightly changed? Even if a 1% management fee is charged, it is good. After all, the Chinese stock market is short in bulls and long in bears, and the bear market is in most of the time. There are countless private equity funds and institutions on the market. In the bear market, it is basically difficult to make a profit."

"I am afraid that there is no support for the basic management fee."

"In the future, once the funds managed by the company fall into a bear market loss state, our company may find it difficult to survive."

"And once this kind of clause is formulated, it will be difficult to change it later."

Su Yu looked at Li Meng with a smile and said: "Your suggestion makes some sense, but I think that a fund company that cannot bring profits and wealth to investors, but only wants to create a large-scale effect, make money by collecting management fees, and cheat investors, has no need to exist."

"If, one day..."

"Yuhang Investment, under such rules, becomes a company that cannot make a profit."

"Then I will not hesitate to let it go bankrupt."

"Li Meng, when investing, whether it is for your own financial management or for your clients' financial management, whether it is for hot money or fund managers, the pattern cannot be limited to a few points of profit and fund management fees."

"A one-year closed period is not short."

"If a fund cannot keep its net value above a positive value for a year, will the fund manager or even the fund company have the nerve to charge management fees? They will lose investors' money. As a result, It also allows investors to continue to provide money to subsidize money-losing fund managers and companies.”

"Is this investor not allowed to curse his mother?"

"So...if things continue like this, as a private equity fund, who will still subscribe?"

"Okay!" Li Meng was persuaded by Su Yu's words and responded, "What you said makes sense. If you think about it carefully, using this rule can still attract many investors and leave their money to us. Yes, after all, a net loss and no management fees are equivalent to tying the company's survival and future to the interests of investors. "

"Well!" Su Yu nodded, paused for a while, and then asked, "Teacher Yao, He Qian, Wang Can... they should all be in Yuhang, right? Tomorrow, I plan to gather everyone together for a meal Let’s have a meal, let’s get to know each other, and also be a mobilizer.”

"Originally, Director Qin should have arranged this matter."

"But he is probably not familiar with the company personnel now, so I can only trouble Li Meng to make arrangements for him."

"Okay, no problem, I'll inform you." Li Meng said with a smile, "Tomorrow at noon, the hotel will be booked at... Mr. Qian's Crown Hotel, just to increase his business. After all, I still have the favor last time. Not yet."

"Then you are pretending to be a public servant for personal gain!" Su Yu laughed.

Li Meng chuckled lightly and replied: "Boss Su, you don't look like someone who is short of thousands or tens of thousands of dollars now. How about... you book the hotel yourself."

"Forget it!" Su Yu waved his hand, "Mr. Qian is a nice guy. Let's book at the Crown Hotel."

"Oh, by the way, our business group hasn't been established yet?" Su Yu paused and said again, "It will be much more convenient to set up a group and notify everyone later."

"I'll join the group." Li Meng said, "But from now on, Manager Zhu will have to be the administrator of the group."

Saying that, Li Meng immediately turned on the computer, created a chat group, and then pulled Su Yu and He Qian into it. Then, Su Yu also pulled Wang Can, Qin Haowen, Liang Bin, Teacher Yao, and He Qian. She recruited the friend she hired from the original company, and finally Qin Haowen recruited all the company personnel recruited by him.

In the end, Su Yu totaled up and found that the company currently had a total of 23 people.

Among them, there are 5 people in the fund business department, including him, Li Meng, Wang Can, Yu Xiaobing, and a customer salesperson brought over by Yu Xiaobing.

There are three people in the venture capital department, Liang Bin, He Qian, and He Qian's friend An Xiaoya who came with him.

There are two people in the human resources department, Qin Haowen, and a young man he recruited who is responsible for recruiting basic personnel of the company.

There are five people in the company's operations department, including manager Zhu Huirong and four young people she brought over.

There is only one person in the market intelligence department, Lin Antu. Qin Haowen originally planned to recruit several grassroots personnel for Lin Antu who could run errands, but Lin Antu said that people who could collect market intelligence must be specially recruited by him, so he also He rejected Qin Haowen's kindness and waited for the company to officially open to make a selection slowly.

There are four people in the company's administrative department, two of whom were brought in by Gao Wei, the administrative director recruited by Qin Haowen, and the other two are the company's front desk and Su Yu's office assistant who were specially recruited by Qin Haowen.

There is only one person in the company’s finance department. Teacher Yao has just arrived in Yuhang and has just settled down. Naturally, he has not had time to recruit his own team. Qin Haowen’s recruitment of financial personnel is unknown whether it is intentional or unintentional. Anyway, it is temporary. He avoided it and didn't mention it to Su Yu.

There is one person in the company's network technology department. Originally, Su Yu planned to omit this department, but Qin Haowen thought it would be better to keep one person, so as to avoid emergencies during the transaction and spoil the matter. Anyway, having such a person is not enough for him. The company's financial costs will not increase much.

There is another person, the company’s legal counsel.

Originally, Su Yu planned to set up a legal affairs department, but Qin Haowen felt that at this time, the company had just started, and there would be very few affairs in this area. It would be enough to have a legal consultant and a designated law firm as a cooperative relationship. , there is no need to maintain a separate legal team at this time.

Seeing the 23 people gathered in the group, the company team was initially formed.

Although it hasn't opened yet and the money in the company's account has already flowed out like water, millions of dollars, but Su Yu is still very happy in his heart and full of hope for the future.