My Age of Investment

  Chapter 220 Vision Capital

  “Our fund company is best registered in some tax havens such as Luxembourg, the British Virgin Islands, the Cayman Islands, and Bermuda in Western Europe.

  In addition to tax avoidance, it can also make fewer declarations and disclose a lot of fund information..."

   Liu Hai still has goods in his belly. After leaving the Stanford campus, he began to introduce Xia Jingxing in the car to the various benefits of registering offshore funds.

   "Including fund company registration, attorney fees, account opening fees, management fees and other fees, it's about 60,000 US dollars, right?"

   Liu Hai nodded, “If the number of investors in a hedge fund is 15 or less, it can be exempted from the supervision of the Cayman Monetary Authority CIMA, and the registration and registration fees can be reduced by half.

  But in order to maintain the normal operation of the hedge fund, you still need to pay 50,000 to 60,000 U.S. dollars in government fees, attorney fees, fund management fees, audit fees..."

  Xia Jingxing nodded, these offshore island governments are not stupid, do not collect taxes, and keep secrets for you. Can't I collect some management fees every year?

  One fund is at least US$50,000 or 60,000 per year, and thousands of offshore funds in the Cayman Islands can still collect a lot of money.

  As for offshore companies, the number is even greater.

  I remember a laugh in my previous life, a 5-story building in the center of Grand Cayman, the main island of the Cayman Islands, has registered more than 20,000 companies.

  In addition, the Cayman Islands also require some companies registered with them to come to the island once a year to hold a board of directors.

  However, the directors do not need to come, and the employees bring the company’s authorization to open the board of directors...

  In fact, I wanted to boost the local tourism GDP, deliberately doing this.

  "Okay, we don't have to wait for all the funds to be raised. Let's register the offshore fund first.

   Regardless of the final fundraising result, I must register for an offshore fund, maybe more than one. "

   Liu Hai nodded, and said in a measured manner: “You will pay all the money for the registered fund, and I will work for you.”

  It costs tens of thousands of dollars to register an offshore fund. If you count other things, such as renting an office and recruiting employees, you may only need one or two hundred thousand dollars in the initial investment.

  Because when the fund is raised enough, 2% of the management fee can be collected, and there is basically no problem in maintaining the daily operation of the fund.

  If the fund starts to make a profit, there is basically no need for additional investment in the follow-up.

  Only one or two hundred thousand dollars? Can't bangs come out?

  The bangs naturally got the money.

  But the account is not calculated like that.

  Without Xia Jingxing’s signboard, he alone can kill him at the level of fundraising, let alone subsequent investment.

  He knows that this is not only money, but also investment records, network resources, influence, and many other things are included in it. Naturally, he does not propose to invest some money and share some shares.

  Xia Jingxing said with a smile, “The Cayman Company, the main operating body of the fund, is wholly owned by me.

  But the hedge fund is profitable. As a manager, you can get a 5% dividend.

  In addition, you still have an annual salary of 100,000 US dollars, which will be adjusted according to the operation of the fund..."

   There is nothing dissatisfied with Liu Hai. The annual salary of just $100,000 is more than his current salary, let alone a 5% dividend of the fund’s profit.

  This 5% is that the fund company charges customer management fees, 20% dividends, and 5% of the remaining net profit after subtracting the company’s operating expenses. It can be regarded as dry shares, only dividends, not trading.

  In fact, it cannot be bought or sold. The main body of the fund is an investment limited partnership.

  As a GP, Liu Hai, the general partner, that is, the fund manager, must contribute at least 1% of the hedge fund.

  This is to prevent fund managers from appearing moral hazards and doing things that damage the rights and interests of LPs, limited partners, and investors.

  The limited partnership system in Europe and the United States appeared very early, and it has developed to this day, and there has been a mature system for a long time.

  The fund manager invests 1%, and other investors invest 99%. Everyone forms a community of interests in this fund.

  At the same time, everyone also believes that the fund manager has invested a lot of money, but he will work harder.

  Liu Hai’s 1% capital contribution, Xia Jingxing will help him out.

  In fact, more than 1%.

  Xia Jingxing estimated the size of the fund and plans to invest 10%-20% of the hedge fund.

  So much money is mainly because their fund is not well-known at present, and lacks experience, projects, talents, relationships, background, etc.

  To win the trust of other investors, you can only use money to prove it.

  Other fund managers only invest 1% and bear little risk;

  But our fund managers are able to invest 10% to 20%, take greater risks, and express confidence in their investment and operation capabilities.

  To express this kind of attitude, so that other investors can be more assured to invest in you as a "novice" and get in your "car".

  After the company's name is big, there is no need to pay so much money.

  After all, in the eyes of financial people, using other people's money to make money for yourself is what is called skill.

  …………

  …………

  Xia Jingxing only has tens of thousands of dollars in his possession, not even enough money to register an offshore fund.

  He can only continue his old operation and sell stocks.

  The stock of Amicco recently dropped a bit. He sold 10,000 shares at an average price of 23.74 US dollars, and then gave Liu Hai 200,000 US dollars.

   Liu Hai took the money and spent more than half a month to finally register the offshore fund.

  The name is ProspetCapital, and the Chinese name is "Vision Capital".

  The reason for taking this name is that in addition to taking the names of Xia Jingxing and Xia Yuan father and son, it also expresses the views on investment, which can see the scenery farther away, which means that you have a long-term vision and a long-term investment.

  In addition to registering the offshore fund, Liu Hai also compiled the "Partner Agreement" and other sales contract documents, which need to be signed by investors to subscribe for hedge fund shares.

  Then the relevant agreement was reviewed by Andrew, revised, and confirmed that there were no problems, and the formal fundraising was started.

  Like domestically, U.S. laws have very strict regulations on the sale of private equity funds, and private equity funds are not allowed to conduct any public advertising.

  There are only four sales channels: high-class social word-of-mouth marketing; acquaintances around fund managers; transfer of other funds; special introductions by investment banks, securities, and investment consulting companies.

  Four ways, each of which requires human resources.

  Xia Jingxing doesn’t know the upper class people, and the same goes for Liu Hai.

  The acquaintances around me, Stanford University Foundation, First Securities Company have also looked for it.

  Take customers from other funds, and there is no such resource.

  However, Liu Jinhang organized a golf club to introduce Xia Jingxing to some high-net-worth clients.

  …………

  …………

  Pebbles Beach Golf Course is considered to be the most beautiful course in the world, surrounded by a rough coastline, with extremely open sea views.

   Breathing the sea breeze, people can play ball while watching the stormy waves hit the shore.

  On the green built along the coastline, a dozen middle-aged Chinese men in white Polo shirts stood in a circle.

  Everyone is holding the club, looking at the young man in the circle with interest, listening to the other person's speech.

  "...Compared to famous hedge funds such as Bridgewater, Renaissance, and Millennium, Envision Capital is indeed still very young.

  But any legendary hedge fund starts at the end of the day!

  In order to show that I will advance and retreat with everyone, I will also personally make capital contributions and subscribe for the first phase of Vision Capital's hedge fund-Lixia Fund, with 20% fund shares. "

  　 Three changes today, and a little later.

  (End of this chapter)