One minute into the market opening, Lu Ming, intently observing the market, decisively issued his second command: "Little Entropy Pincheng, full position, buy at 18.39 yuan, immediately!"
The trader swiftly executed the order, buying a full position of over 8 million. Although the term "full position" implies holding the entire fund in a single constituent stock, it actually means that the holding of a single stock should not exceed 10% of the fund size. Due to regulatory constraints, Lu Ming couldn't directly allocate the entire fund to one stock, as much as he would have preferred in his personal account.
Barely ten seconds after the first order, he swiftly followed up: "Lu Jiazui, commit to a full position at 34.45 yuan!"
"Ge Hua Cable turned green, hurry and place an order at +0.36%, full position at 22.10, hurry!"
The two traders promptly placed the orders, and the first Commodity City trade completed in less than two minutes had already surged by 3 points.
Observing that the fund's total position exceeded 90%, Lu Ming issued an audacious command: "Close all original targets with a single click!"
A direct nuclear button press? Isn't this too bold? Does he intend to execute this strategy frequently? Is this the trading style of the legendary figure who earned 10,000 times in three months? Excitement surged among the traders as the nuclear button was pressed, liquidating all remaining constituent stocks. Although the selling strategy might seem impulsive, running in batches might lead to a slight loss, and this quick execution helped capture an additional point.
Lu Ming, undeterred by the day's position changes, continued to seek opportunities. Meanwhile, the three traders were left astonished.
Is the boss really playing with the fund for a very short period today? Is he aiming to be this aggressive?
At 9:37 a.m., Lu Ming issued his fourth command to open a new position: "Sand Gang shares, full position, sweep the market!"
The trader promptly executed the order, hitting the daily limit with an 8 million purchase, the stock rising by more than 4 points.
"Phalanx Technology, 6.78, full position!"
"Luo Tuo shares, full position at 15.47!"
"East Star Securities, full position, top of the list!"
"North Star Building Materials, sweep 7% of the position!"
"Haiyin shares at 13.21, absorb 6.5% of the position!"
"Weilan lithium core, sweep 6.5% of the position!"
"The remaining 5% of the positions, all in Tianji Technology."
By approximately 10:30 a.m., Lu Ming had executed the eleventh position opening. The individual stock position reached 95%, and the remaining 5% was liquid cash earmarked for investor fund redemptions.
In less than an hour, all positions and shares for Tiansheng Pioneer Mixed Fund were quickly executed and filled.
Lu Ming and the assistant of Tiansheng Pioneer Mixed Fund exchanged a few words before leaving work early. Each fund had its own management team, with the fund manager at the helm. While the fund manager determined the fund's operations, the fund company had no authority to interfere.
Presently, Tiansheng Fund Company was in the operational stage of Tiansheng Pioneer. However, several fund products were still in the design stage. In approximately six months, at least a dozen passive index funds under Tiansheng Fund would be launched, including both on-exchange funds and over-the-counter (OTC) ETFs.
The three fund managers newly recruited by Tiansheng Fund would manage three to five of these passive index funds. These funds didn't have much operational flexibility as they purely tracked the index, maintaining a holding ratio below 80%.
While these managers wished to also manage active funds for higher returns, Tiansheng Fund Company was still in its developmental stage. Its future trajectory depended on the success of Tiansheng Pioneer Mix, whether it could stand out among the multitude of similar funds in the market. Ultimately, this relied on Lu Ming's performance.
The soaring popularity of Tiansheng Pioneer Mix, emerging as a star fund with top-tier performance, could draw in more investors. Many well-known fund companies followed a similar trajectory, with only their initial star funds performing well. The success of Lu Ming's fund would play a pivotal role in shaping the future of Tiansheng Fund Company.
...
"At 9:30 p.m., the net worth of Tiansheng Pioneer Mixed Fund was updated."
"Net worth: 1.0718 yuan (+7.18%)"
The eagerly anticipated net worth update of Tiansheng Pioneer Mixed Fund garnered significant attention. Most of Lu Ming's fans were eagerly waiting for the results. As the net worth was revealed, third-party sales agency platforms, particularly the Zhifubao Fund platform, witnessed a surge in direct comments, overwhelmingly positive. These comments were primarily from Lu Ming's fans, expressing their excitement and admiration for the impressive performance.
"Why such a significant difference between the actual net worth and the estimated value?"
"What kind of fund is this, rising so sharply?"
"I'm sorry, I'm so sorry, I canceled the order before 3 p.m., darn!"
"I checked the details, and the first brother continues to be a super god!"
"Wow, the guys inside are so cool. This is what they call lying to win. Initially, it was just a hot chicken, but I have a hunch that the first brother's manipulation is turning into the rhythm of a 'demon girl'!"
"I'm going to sell the house and buy this one~www.mtlnovel.com~ **** can't stop it, I said it!"
"Lying to win... [Er Ha]"
"Is it crazy to charge a 3% management fee? There's a handling fee of no less than 2.5% for redemption within 7 days. Damn, it's 1 percentage point higher than others. Custody fees, sales service fees are 1-1.5% higher than similar funds, so why not grab them?"
"Brother, it seems like you don't know who the fund manager of Tiansheng Pioneer Mixed is?"
"Gan! After hearing what you said, I took a look. A 23-year-old fund manager who graduated from high school? The Zhifubao platform needs to be rectified. This kind of fraudulent fund shouldn't be allowed."
"Hahaha, brother, do you know that you are mocking someone who earned 10,000 times in three months?"
"Cognitive intolerance is an intellectual defect, and he can't be blamed."
"Pfft~~, I've learned, I've learned, the cultured person is just different; scolding people is so elegant."
"Comparing the income brought by the first brother, I have no opinion at all if the management fee is doubled."
"I'm not happy to see this fund, Leek!"
"Who is the first brother? Who is the first brother?"
"Baidu will know after 'stunning the deer'. On October 30 last year, it entered the market with a principal of 100,000 yuan. In just three months, it has achieved more than 1 billion yuan, and its income has exceeded 10,000 times. Now it is transformed into a fund manager, opened a fund company, or a public fund."
"To be fair, it was a surprise that I would never have imagined that the first brother would come to do a public fundraising fund."
"Forever drop God!"
"In the end, it's the **** in my heart. It should be a change of positions and shares."
"I'm stud, you can do whatever you want!"
"Don't be blind and talk about it everywhere; it's not good to make a fortune in silence... [Shishi Inu]"
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