My Age of Investment

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

In addition to tax avoidance, it can also report less and disclose a lot of fund information..."

Liu Hai still had goods in his stomach. After leaving the Stanford campus, he began to introduce Xia Jingxing to the benefits of registering an offshore fund in the car.

"Including the fund company registration, lawyer fees, account opening fees, management fees and other expenses, it is about 60,000 US dollars, right?"

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

But to maintain the normal operation of the hedge fund, it also needs to pay 50,000 to 60,000 US dollars in government fees, lawyer fees, fund management fees, audit fees..."

Xia Jingxing nodded, the governments of these offshore archipelagos are not stupid, they don't collect taxes, and they keep secrets for you, can't they let me charge some management fees every year?

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

As for offshore companies, that number is even greater.

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

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

However, the directors do not have to come, and the employees come to open the board of directors with the company's power of attorney...

In fact, I just want to boost the local tourism GDP and deliberately do this.

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

Anyway, no matter what the final fundraising result is, I definitely want to register an offshore fund, and there may be more than one. "

Liu Hai nodded and said in a measured manner: "Then you will pay all the money from the registered fund, and I will work for you."

It is only tens of thousands of dollars to register an offshore fund. Counting other things, such as renting an office and recruiting employees, the initial investment may only cost 100,000 to 200,000 dollars.

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

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

Just $100,000 or $200,000? Can't get bangs out?

Liu Hai is naturally able to get the money.

But that's not how the account works.

Without Xia Jingxing's signboard, he was alone, and the fundraising level would kill him, not to mention follow-up investment.

He knows that this is not just money, but also investment records, network resources, and influence. Naturally, he will not propose to invest some money and share a portion of the shares.

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

But the hedge fund made a profit, as managers,

You can get a 5% bonus.

In addition, you have an annual salary of $100,000, which will be adjusted in the future depending on the operation of the fund..."

Liu Hai is not dissatisfied, the annual salary of $100,000 alone is more than his current salary, not to mention the 5% dividend of the fund's profits.

This 5% is the 5% of the net profit remaining after the fund company collects customer management fees, 20% dividends, and subtracts 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.

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

This is to prevent the moral hazard of fund managers from 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 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 because fund managers have invested a lot of money, they will work a lot harder.

The 1% of Liu Hai's investment will be contributed by Xia Jingxing.

Actually, more than 1%.

Xia Jingxing estimated the size of the fund and planned to contribute 10%-20% to the hedge fund.

The reason why they have made so much money is mainly because their fund is currently not well known and lacks experience, projects, talents, relationships, backgrounds and so on.

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

Other fund managers only invest 1% and take very little risk;

However, our fund managers can contribute 10% to 20%, take greater risks, and express their confidence in their investment and operation capabilities.

To express such an attitude, let other investors feel more confident to invest in you as a "novice" and get on your "car".

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

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

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Xia Jingxing only had tens of thousands of dollars, not even enough money to register an offshore fund.

He can only continue the old operation and sell stocks.

Amic stock recently fell a bit. He sold 10,000 shares at an average price of $23.74, and then handed over $200,000 to Liu Hai.

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

The name is Prospet Capital, 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 and his son, they also express their views on investment, being able to see the scenery farther away, implying long-term vision and foresight in 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 after confirming that there was no problem, the official fundraising was started.

As in China, US laws are very strict 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: word-of-mouth marketing in high society; acquaintances around fund managers; transfer from other funds; special introductions from investment banks, securities, and investment consulting companies.

There are four ways, each of which requires human resources.

Xia Jingxing didn't know people in the upper class, and the same goes for Liu Hai.

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

To take clients from other funds, there is no such resource.

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

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Pebble Beach Golf Course is considered the most beautiful course in the world, surrounded by rough coastline and has extremely open ocean views.

Breathing the sea breeze, people can play ball while watching the waves crashing on the shore.

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

Everyone leaned on the club, looking at the young man in the circle with interest, listening to each other's speech.

“…Compared to well-known hedge funds such as Bridgewater, Renaissance, and Millennium, Vision Capital is indeed still very young.

But any legendary hedge fund starts at the bottom!

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

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