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私募基金一直如同地下的暗河,在资本市场里奔突、汹涌。老的死去,新的又诞生,在政策的夹缝中顽强生存。适逢大牛市,它们便迅速地成长。根据业内人士的推断,目前私募基金已经膨胀到了一万亿左右的规模,而中国股市的总市值接近十万亿人民币。如此算来,私募基金已经占据其十分之一,成为了中国资本市场的重要力量。对于这股力量,监管层面临“疏”还是“堵”的问题。而要求将私募基金合法化的呼声越来越高,监管层也愿意顺势而为,让私募基金合法化,让私募基金成为市场的建设者,而不是成为饕餮或毁灭财富的破坏者。事实上,针对私募基金的“招安”已经开始了。通过契约型的方式,采取专户理财或和信托公司共同发行信托计划,很多私募基金已经开始以半公开化的方式在市场上运作,一些以投资公司或投资咨询公司注册的有实力的机构,已经不再回避自己私募基金的身份。力争规范化、合法化发展,打造品牌,也已经成为很多私募基金追求的目标。已经修订并将于今年实施的《合伙企业法》也将为私募基金的合法化打开新的通路。相信通过市场人士和监管层的共同努力,私募基金合法化道路上的障碍终将被一个又一个地清除。
Private equity funds have always been underground underground river, in the capital market bolt and surging. The old die, the new and born, stubborn in the policy of survival. Coincides with the bull market, they will rapidly grow. According to the inference of the insiders, the current private equity funds have expanded to about one trillion of the scale, while the total market capitalization of China’s stock market is approaching 10 trillion yuan. So calculated, private equity funds have accounted for one-tenth, has become an important force in China’s capital markets. For this force, regulators are facing “sparse” or “blocked” issue. The calls for the legalization of private equity funds are getting louder and louder, regulators are willing to take the opportunity to make private equity funds legalized, so that private equity funds to become market builders, rather than become gluttonous or destruction of wealth spoilers. In fact, the “security move” for private equity funds has already begun. Through contractual means, adopting special account financing or issuing trust plans jointly with trust companies, many private equity funds have started to operate on the market in a semi-open manner. Some powerful agencies registered with investment companies or investment consulting firms, Has no longer evaded the identity of private equity funds. Strive to standardize and legalize the development of brand building, has also become the target of many private equity funds. The “Partnership Enterprise Law”, which has been revised and will be implemented this year, will also open a new avenue for the legalization of private equity funds. Believe that through the joint efforts of market participants and regulators, the obstacles on the legalization of private equity funds will eventually be removed one by one.