JD Capital Invests in and Establishes the “RQ Fund” with Bullish View on the Public Fund Industry
On May 28, JD Capital announced its participation in setting up the public fund “RQ Fund”. JD Capital will invest 37 million yuan, 37% of the fund’s total registered capital of 1 billion yuan.
At present, JD Capital is the controlling shareholder of one public fund — the JT Asset Management. The establishment of the RQ Fund will make JD Capital the controller of one fund and the holder of another in the public fund industry.
As the regulator expands the access to the public fund industry and the secondary market flourishes, public funds have seen ever-promising prospects. According to the statistics released by the Asset Management Association of China, as of April 30, 2015, the number of asset management companies reached 96 and the total asset of public funds amounted to 6.2 trillion yuan. Based on a bullish view on the outlook of the public fund industry, JD Capital started investing in this industry in 2014.
In July 2014, JT Asset Management, JD Capital’s wholly-owned public fund, got the approval to be set up. So far, JT Asset Management, headquartered in Beijing, has established subsidiaries in Shenzhen and Shanghai. It has an investment research team and a product development team consisting of over 50 people, a sales team more than 100 and moreover, an efficient backstage backing mechanism. As the first asset management fund to complete the whole-system operation test on the National Equities Exchange and Quotations (NEEQ), JT Asset Management has raised 3 billion yuan for its products on the NEEQ. On May 27, JTTF Reform Hybrid Fund, its first public fund product, was officially launched and started to be sold through the Industrial and Commercial Bank of China (ICBC).
JD Capital has been adhering to value investing and long-term investment. After getting listed on the NEEQ, it has been accelerating its steps to become a large-scale and integrated asset management institution in China. JD Capital has been authorized with all business licenses in this area and has expanded its business into many asset management fields including public funds, Internet finance and individual venture investments, and investments with inferior beneficiary claims.
JD Capital is going to be the major sponsor in preparing for the establishment of private banks, pioneering into the commercial banks industry.