June 27, Saturday.
Inside the living room of the opulent Jinxiu Qiaoyuan Villa, An Yirou approached Lu Ming, expressing her eagerness to undertake an internship at his company. Lu Ming, inquiring about any potential familial issues, granted her request, understanding she held no objections. With a captivating smile, An Yirou stressed the importance of keeping their relationship discreet.
Staying true to the original plan, Lu Ming designated her as his secretary and assistant starting next week, an integral role in their arrangement.
Unexpectedly, the doorbell chimed, prompting An Yirou to depart from Lu Ming's side. Lu Ming, checking the surveillance, observed two middle-aged men from Chaoyun Trust. Inquisitive about their identity, An Yirou was advised by Lu Ming to stay upstairs while he confronted them.
The visitors identified themselves as Lin Qiang, the senior vice president of Chaoyun Trust, and his assistant. Lin Qiang showered Lu Ming with compliments for his market achievements, praising his generosity and success with Tiansheng Pioneer Mixed Fund. Though taken aback by the detailed knowledge, Lu Ming maintained composure.
Lin Qiang, expressing concerns about market volatility, proposed entrusting Chaoyun Trust's substantial assets, totaling 13.2 billion, to Lu Ming for management. Acknowledging the substantial amount, Lu Ming assured Lin Qiang of stability, reliability, and maximizing profits while adhering to Chaoyun Capital's desired safety.
Impressed by Lu Ming's track record but cautious about his aggressive trading style, Lin Qiang sought a balance between stability and profits in their potential partnership.
Today's events unequivocally demonstrate Lu Ming's adeptness in avoiding the pitfalls of a flash crash in the capital market.
Lin Qiang added with a smile: "Mr. Lu, our objective is to prioritize stability, considering that this trust financial asset impacts the future quality of life for 30,000 to 40,000 families." Lu Ming nodded thoughtfully and, after a moment of contemplation, articulated his plans: "Since May, the Tiansheng Pioneer Hybrid Fund has reached a scale in the tens of billions. Considering retirement as a fund manager at month-end, I am contemplating new investment models, focusing on time and value."
Continuing, Lu Ming gazed at Lin Qiang and elaborated: "While many emphasize returns, few manage risks, and even fewer grasp the significance of time. I have been reflecting and searching for... the type of business that warrants holding for over 30 years. Simultaneously, I am on the lookout for an LP (funder) that aligns with my criteria."
Lin Qiang was genuinely surprised and remarked, "Mr. Lu's statements are quite unexpected. The industry typically sees you as an extreme speculator in the technical analysis school. To be honest, I shared a similar perception until I heard your thoughts on distribution... But I'm more curious about your standards for LPs."
Lu Ming, in a contemplative tone, stated: "Long-term investment demands high standards for the investor (LP) and necessitates significant trust in the investor (GP). Tiansheng Capital's LPs must commit a minimum capital of over 5 billion for ultra-long-term investment. The LP target includes capital intended for future generations, such as pensions, sovereign funds, social security funds, university endowments, family funds, etc."
After a brief pause, Lu Ming looked at Lin Qiang and added: "Tiansheng Capital exclusively manages funds for such LPs, as only they can comprehend Tiansheng Capital's long-term strategy. The minimal distance and maximum trust between us are achievable when LP's capital is ultra-long-term. This allows me the conditions, time, and energy to contemplate models with prolonged value growth and discover valuable companies to hold for over 30 years."