[Introduction] Several fund companies issued announcements: Termination of cooperation with CM Wealth Agency for sales agency China Fund News reporter Cao Wenjing has another fund sales agency that has been terminated by multiple fund companies and officially announced a "breakup

[Introduction] Several fund companies issued announcements: Termination of cooperation with CM Wealth Agency for agency sales

China Fund News reporter Cao Wenjing

Another fund sales agency has been terminated by multiple fund companies, and the official announcement was that they "broke up".

In the past two days, Ping An, Oriental, Baoying, China Universal and other fund companies issued announcements stating that in order to protect the interests of investors, they would terminate Zhongmin Wealth Fund Sales (Shanghai) Co., Ltd. (hereinafter referred to as Zhongmin Wealth). ) handles the company's fund sales business.

Several fund companies have terminated their contracts with CM Wealth

html On August 15, Baoying Fund issued the "Announcement on the Termination of CM Wealth's Fund Sales Business of the Company". The announcement shows that in order to safeguard the interests of investors, Baoying Fund has reached an agreement with China Minsheng Wealth Management and has terminated China Mins Wealth’s handling of fund subscription, subscription, redemption, regular fixed-amount investment and conversion of Baoying Fund Company’s funds starting from August 15. Related sales business.

On the same day, China Universal Fund also issued a relevant announcement stating that after consensus, China Universal Fund and CMIG Wealth will terminate the cooperative relationship from August 16, that is, CMIG Wealth will suspend the agency of the company's subsidiaries from August 16 Fund sales business, and stopped handling the subscription, subscription, regular fixed-amount investment and conversion of the company's funds.

China Universal Fund also reminds investors that they should handle the transfer or redemption of fund shares by themselves before August 30, 2024. For investors who have not dealt with it, the company will directly transfer the existing shares to the company's direct sales platform for investors.

In addition, many fund companies such as Ping An and Orient Fund also issued the "Announcement on the Termination of the Fund Sales Business of China Minsheng Wealth Management Company" on August 14.

CM Wealth was previously required to suspend private equity funds fundraising business

Reporters noticed that in the past few years, many fund companies such as HFT, Qianhai Kaiyuan, Southern, and Huaan have successively terminated or suspended their relationships with CM Wealth. agency sales cooperation.

wind data shows that as of August 14, CM Wealth has sold 1,262 public funds on behalf of 27 fund companies. It has not entered the top 100 of public fund sales and retention scale.

Public information shows that CMIG Wealth was established in November 2014 and is headquartered in Shanghai. It is a professional wealth management and community financial service platform under China Minsheng Investment Co., Ltd. (hereinafter referred to as CMIG) with a registered capital of 100 million yuan. . In 2016, the China Securities Regulatory Commission approved the qualification of China Minsheng Wealth Securities Investment Fund Sales Business.

It is worth noting that in January 2020, the Asset Management Association of China issued the "Decision on Suspension of the Private Equity Fund Raising Business of China Minsheng Wealth Management" . China Minsheng Wealth is required to immediately stop private equity fund raising activities and shall not engage in the following activities during the suspension of business: signing new sales agreements, publicizing and promoting funds, selling fund shares (equities), and handling fund share subscriptions/subscriptions (subscriptions).

According to incomplete statistics, since this year, nearly 40 fund companies including Bank of Communications Schroders, Morgan Stanley, CITIC Construction Investment, Huabao, and Guangfa have officially announced their "breakup" with some agency agencies. A significant increase compared with the same period last year. This involves Haiyin Fund Sales Co., Ltd., Beijing Zengcai Fund Sales Co., Ltd., Shenzhen Xinhua Xintong Fund Sales Co., Ltd., Shenzhen Fuji Fund Sales Co., Ltd., Shanghai Jupai Yumao Fund Sales Co., Ltd. and many other agency sales agencies.

Editor: Huang Mei

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