Via Soochow Fund smart capital to steal enjoy the suspension re-stock

Peng Friends of

keen sense of smell funds total to capture the potential investment opportunities in the capital market. the

January 19, 2012 the website of the the Dongwu Fund (Confucius News) quietly disclosed an announcement, said that since December 5 last year, to suspend of Soochow new economic equity securities investment funds (hereinafter referred to as "Soochow new large purchase of the economy "), the conversion onto business. During this period, a single fund accounts for the single fund accumulated purchase, and transferred to an amount not more than 2 million yuan.

reporter learned that the tips behind the bulletin, some investors find funds through the "risk-free arbitrage" opportunities. They attack the common subject of the reorganization is still in suspension waiting Dali Technology (002214.SZ).

in the past on the market there is no lack of bad shares through fund fled suspension or get a good share of the cases, but these stocks are mostly constituents, a tool of the ETF Fund. Through equity fund arbitrage, the market also few and far between.

or climb on the Night Vision Group

November 10, 2011, Dali announcement said it was planning to major issues of the matter is still under discussion, effective immediately, the stock suspension. Following last March, the second suspension reorganization. Up to now, the Dali Technology has yet to resume trading, invariably expressed only in the Progress announcement, the company and related parties are actively promoting such as the audit, evaluation and other related work.

"from our understanding of the situation, Dali and Night Vision Group reorganization of assets from Dali Technology will be private enterprises turned to military enterprises, the reorganization will significantly enhance the competitiveness of large established technology." Hangzhou a private person on the newspaper.

reporter call Dali Securities Department, company sources said the matter is still in progress, and they is not convenient to answer. The reporter then repeatedly contact the company secretaries, Alvin Liu, but the phone has been no answer.

public information, March 2010, the North Night Vision Technology Group Co., Ltd. ("Night Vision Group") were set up in Yunnan, Kunming Institute of Physics (Kunming North IR-Technology Co., Ltd.), Yunnan North Photoelectric Instrument Co., Ltd. and the northern night-vision technology Co., Ltd. was established based on restructuring the regional high-tech enterprises, and cooperation to build photoelectron bases in Yunnan and China North Industries Group Corporation to further deepen and extension. As a sub-group of the China North Industries Group, the Night Vision Group registered capital of 2.5 billion yuan, the main business covers the infrared detectors, image intensifier, infrared imaging machine, the dim light of the whole R & D and production and precision mechanical processing and optical processing, is currently the highest level of professionalism, the largest to infrared, low light level lies at the heart device-based electro-optical night vision industry base. Lu Xiaojun,

Hengtai securities analyst, pointed out that, Dali is the largest and one of the strongest comprehensive strength of the civilian infrared camera manufacturers. Shanghai person of a fund company, told optimistic analysts said, according to the American experience, it is estimated that infrared imaging products total demand of 20 billion yuan, but the slow pace of development, mainly as a core component of the focal plane detector can not be self-sufficient imports is limited. The reorganization is expected to accelerate the progress of the localization of uncooled infrared focal plane detector Dali Technology and night-vision group to produce a win-win situation.

"does exist the possibility of reorganization fails, but the greater the likelihood of success, Dali Technology suspension for so long is still sticking to the operation of a brokerage Hangzhou business department official said.

military stocks has always been a hot pursuit of the market. From the case already on the market in May 2009, 14 announced restructuring ST Tao, the stock rose up to 57.82 yuan, or up to 620% from about 8 yuan breath; soldiers photoelectric backdoor north birds, the stock has also become the 2009 Ushimata one. Our contact with several market participants expected, Dali Technology before the suspension share price of 38.6 yuan, if the above program restructuring, resumption or continuous limit, it is estimated that the share price to double. Subsequent movements, may still be a shock up.

arbitrage opportunities looming

Some people lament missed a big bull stock, careful investors have found that the arbitrage opportunities.

Dali Technology 2011 three quarterly, including institutional investors in its top ten shareholders of circulation Penghua quality LGU-based (LOF) (329.12 million), Harvest Theme Selected Mixed (322.05 million) , Soochow aggressive strategy (94.5 million). In accordance with the end of the third quarter, Dali Technology closing price of 40.96 yuan on the stock positions, respectively, of a total of approximately 134.8 million yuan, 131.91 million yuan, 38,700,000 yuan, each the size of the Fund of 2.67%, 1.22%, 3.02%. The data suggest that even if the stock price doubled after the resumption of the Dali Technology, to enhance the role of the three fund net are not large.

, however, did not enter the shareholder list of Soochow New Economics Foundation, is the most likely beneficiaries of Dali Technology restructuring imagine. The Fund from its inception in early 2010 on the high positions held by Dali Technology, when mid-year report which began to occupy the position of the Funds largest holding. 2011 Quarterly Bulletin revealed that Dali Technology of the Soochow new economy holds 81.2 million shares, totaling 33.26 million yuan, accounting for fund net worth ratio of 10.03%. The fourth quarter of last year, the number of shares of Dali technology to further increase to 88.8 million, total fund net worth ratio of 7.2%; before the suspension, the market value of 33.65 million yuan, becoming the second-largest holding in the fund.

In other words, if the Dali Technology shares doubled, net of of Soochow new economy will therefore increase to around 7%. Therefore, if the success of the reorganization, the the Soochow new economy will become the biggest beneficiary of the stock, or have investors curves share the the Dali restructuring benefit of best channels. As of February 2 this year, the of Soochow new economy, the latest net worth of $ 0.973, which recorded a 2.75 percent gain in January, which has raised funds among the performance is quite good. However, if just a few days will be able to rise 7 percent, the funding appeal for the pursuit of stable income is quite substantial. Even after paying the subscription fee (banking subscription fee of 1.5%, Soochow Fund online banking purchase 0.6%), the return has been quite substantial. However, if the restructuring of Dali is not such as the above market participants expect the arbitrage funds is also easier to get out, the loss of subscription and redemption fees and assume the risks or benefits of the changes in NAV.

quarterly information, the Soochow new economic net asset value in the fourth quarter of last year amounted to 368.1 million yuan, an increase of 36.35 million yuan over the third quarter.

Soochow Fund, an insider told reporters: "the expansion of the size of the Fund, there is a world market fell low, bargain-hunting investors reason, there are also investors find the risk-free arbitrage opportunities but in order to to protect the interests of the fund share holders, to avoid earnings dilution, taking into account the effective operation of the fund assets, the company made provisions to suspend its large purchase, convert the transferred business. "

is worth noting that, previously, the market is littered with the funds through the ETF involved in the precedent of the constituent stocks trading, May 2009, the suspension of a year-long Yangtze Power plans for resumption of trading with hundreds of billions of assets acquisition. Resumption early will be big money in advance by the China Yangtze Power chips the Shanghai 50ETF discount opportunity of suspension at a low price and shipping in the resumption of the day. 2011, the lower limit of the Shuanghui Development clenbuterol event, the Shenzhen Component Index ETF that day rapid turnover zoom, responsive institutional funds is through Shenzhen Component Index ETF sold. Hu Jing,

Friends of the value consulting researcher, reminded that the above cases occurred mainly in the stocks and the ETF, like this by distinguishing the Awkwardness of Fund arbitrage is still rare, are more a test of investor ability to invest.