In the year 2000.

Venturing into the mainland at this time only allowed for closed-end fund trading. Open-ended funds, and certainly QDII and QFII funds, were still under discussion and research.

A closed-end fund, as the name suggests, refers to a fund where the initiators set a limit on the total amount of shares issued when establishing the fund. Once the total amount is raised, the fund is declared established and undergoes closed management.

During the closed period, investors cannot redeem their shares.

Upon maturity, transactions must also go through the stock exchange, with many restrictions.

Due to a lack of understanding, investors even speculated on the funds like stocks, believing they also had price-to-earnings ratios and other stock-like characteristics.

It could only be said that the mainland's asset management industry was still in its infancy, not professional enough, and the market size was pitifully small.

This time, Su Yehao seized the opportunity of the Hong Kong Stock Exchange reform, pulling in the four giants for cooperation, with the intention of taking the opportunity to enter the financial management industry, utilizing his own advantages to expand income and influence.

He was attempting to cultivate a "cash cow" by providing professional asset management solutions to domestic and foreign clients.

For example, if he managed 100 billion RMB for others, he could charge 1.5% to 2.5% in management fees annually, resulting in a gross profit of 1.5 to 2.5 billion.

In addition, there were subscription fees, purchase fees, redemption fees, and other income. As long as the scale was large enough, this portion of income could not be underestimated.

If he could manage one trillion RMB, the income could increase tenfold. If he could achieve compound interest and invest the earned funds through various channels, the profit would increase further.

Recently, Su Yehao had realized that he couldn't fully utilize the information in his head by investing on his own.

For example, Gree, Vanke, or liquor stocks were all very profitable in the long run, and the opportunity to buy the dip in Nasdaq in the future should not be missed.

However, his strength was limited, and he didn't have the extra energy to continue investing.

In this case.

Establishing an asset management company and raising funds for investment, with him earning money by taking a cut, was clearly the best solution. It was an opportunity to monetize the information gap, without much risk to himself.

The four giants who cooperated with him were so quick to agree this time, not only because they coveted the Hong Kong Stock Exchange shares, but also because they valued Su Yehao's ability and reputation.

Reputation is undoubtedly very important in the asset management industry.

Nowadays, hundreds of millions of people in the mainland know that Su Yehao is very good at making money, accumulating astonishing wealth in just two or three years, and has a very positive image.

If he were to attract attention for sssss Asset Management Company, the effect would be far better than spending hundreds of millions on advertising. After all, Su Yehao had already proven that he was indeed good at making money.

Compared to investment managers with little reputation, clients would mostly prefer to hand over their money to a wealthy man like Su Yehao for management. The celebrity effect is fully reflected in the investment world, just like Warren Buffett, any stock he looks at will definitely skyrocket once the news spreads...

In the conference room on the second floor of the castle, they spent a couple of hours discussing in the sun.

Su Yehao and these representatives reached some preliminary consensus, planning to first establish a public fund and a private fund in Hong Kong.

As for the mainland.

They would have to complete the procedures before they could operate. At that time, they planned to first launch a product with a total scale of two or three billion RMB, to test the waters in the form of a closed-end fund.

In addition, with the support of these partners, Su Yehao would personally come forward to provide some suggestions to the authorities on the promotion of open-ended funds and QDII products, striving to open up new markets as soon as possible.

After discussing the important topics.

An executive from CITIC, with a smile on his face, drank his tea and asked Su Yehao, "Mr. Su, may I ask you something? Is the reform work of the Hong Kong Stock Exchange going smoothly? Does our company have a chance to get shares?"

Su Yehao said decisively:

"Don't worry about that. Although the draft is still under discussion, the Hong Kong Stock Exchange's development focus is on undertaking mainland listed companies in the future. For the sake of shareholder diversification, we 5s will definitely have the opportunity to occupy a seat on the board of directors."

The reason why he dared to say so definitively was because introducing mainland capital was very beneficial to the Hong Kong Stock Exchange.

With the reform and opening up in the north, the channels for listing abroad were no longer limited to the Hong Kong Stock Exchange. The Singapore Stock Exchange, which had completed its reforms in advance, and the New York Stock Exchange in the United States were both new choices.

This time, the local authorities spared no effort in "helping" the Hong Kong Stock Exchange, the Futures Exchange, and the Central Clearing Company to merge, in order to eliminate the situation where members could control the market by sticking together, strengthen supervision over it, and lock it in a cage.

The previous power of those members would be converted into corresponding shares, and additional external financing would be carried out, using the funds raised to improve international competitiveness. There were only so many companies in Hong Kong, and undertaking mainland listed companies had become the next focus of the Hong Kong Stock Exchange.

And Su Yehao carefully selected and actively joined forces with these four giants to form sssss Asset Management Company.

It had both strength and connections, not only saving face but also exceeding the strength of many multinational companies. There was no reason for it to be suppressed.

In order to get himself into a high position, Zheng Yongwen had already spoken to the higher-ups, and received a positive response. The progress was much smoother than Su Yehao's attempt to join forces with the Hong Kong tycoons to acquire some of the shares.

Perhaps because they were worried about repeating the same mistakes and allowing certain businessmen to continue to control the conversation.

This time, the authorities deliberately excluded many local companies under the guise of expanding international influence, mainly focusing on attracting multinational companies.

Su Yehao could understand, but in order to achieve the goal of a "Hong Kong version of Nasdaq," he still hoped to acquire more shares and occupy a favorable position, so he had been jumping around quite actively recently.

Seeing that the authorities were on guard, this was why he made a temporary decision, resolutely formed this sssss Asset Management Company, and tried to leave behind the Cyberport partners, continuing to compete for the financing share in his personal name.

The names of the three companies sounded quite impressive, but in fact, their total valuation was only 4 to 5 billion Hong Kong dollars.

As long as the local authorities allowed it, he would even dare to package them all up, with no pressure in terms of funds. /

......

At noon, Su Yehao accompanied this group of people to a meal at the hotel they were staying at.

After eating and drinking to their fill, the entertaining came to an end.

Remembering that he had promised Baoya Jun to help him settle the matter with his fiancée, and since he had nothing to do in the afternoon, he called Baoya Jun and took a boat back to Casino, 1997.

On the way, he first called his father using a satellite phone, briefly explaining the situation.

This father, who had finally been asked for help by his son, not only didn't find it troublesome, but seemed to be in a very good mood, telling him that he would talk to the old casino tycoon later to help mediate.

In terms of financial resources, the Su family was indeed firmly in first place in Casino, 1997. However, the old casino tycoon who ran the casino was more experienced in dealing with these conflicts.

They had already been discussing splitting up the casino licenses recently, but currently only Lisboa was dominant. Baoya Jun's fiancée's father had also earned his living under the casino tycoon before he went in, so asking him for help would naturally be more effective.

......