"During the closed-end period of a fund, it would probably be somewhat unrealistic for investors to forcibly redeem the fund shares they initially invested," Su Yi said. "Unless the fund product they invested in has reached the mandatory stop-loss liquidation line specified at the time of the fund's issuance. However… as far as I know, none of the fund products under 'Tianhe Capital' should have set mandatory stop-loss liquidation lines."
Fang Wanqing responded, "Although it's not very realistic for investors to want to forcibly redeem fund shares, it's clear that after this fuss from investors, the reputation of 'Tianhe Capital' is completely ruined. It's estimated that no one will dare to invest in fund products under this institution in the future."
"I used to think that Mr. Gu, the owner of 'Tianhe Capital,' was quite a figure in Hong Kong City," Ms. Li said. "I didn't expect him to stumble in this British pound exchange rate investment project."
"It's not just Mr. Gu who stumbled this time," Fang Wanqing said. "I heard that the 'Huifeng Global No. 1' main hedge fund product managed by Mr. Godfrey also suffered extremely serious losses in this round of British pound exchange rate investment, apparently losing over 3 billion US dollars."
"Lost so much money? That's too exaggerated!" Ms. Li exclaimed.
Su Yi responded, "In this round of the UK Brexit referendum, several main hedge fund products under 'Huifeng Bank' heavily went long on the British pound exchange rate. Exchange market trading inherently carries extreme risks, so it's quite normal for the 'Huifeng Global No. 1' main hedge fund product to incur this amount of loss."
"This loss shouldn't be from 'Huifeng Bank's' own capital, right?" Ms. Li said. "Otherwise, even with 'Huifeng Bank's' large enterprise, it would likely be severely impacted."
"Naturally, it's not their own capital," Su Yi said. "However, the substantial losses of several of their fund products will still have a significant impact on 'Huifeng Bank's' performance in the recent quarter and the development of subsequent asset management businesses."
"No wonder the share price of 'Huifeng Bank' plummeted by 10% in the Hong Kong stock market today," Fang Wanqing said. "It seems that many funds in the market are indeed proactive."
"With this round of investment concluded, Mr. Su should be returning to the mainland soon, right?" Ms. Li paused, then asked.
Su Yi responded, "When the company matters are mostly wrapped up, I should indeed go back to Modu to take a look. Oh… by the way, our company's offshore business in Hong Kong City needs to expand next, and we are currently short of many people. I don't have many friends in Hong Kong City. Ms. Li has a wide network, I wonder if you could introduce some suitable talents to me?"
"Offshore business?" Ms. Li asked. "Does your company still want to increase investment in the international financial market in the future?"
Su Yi replied, "Not just investment in the international financial market, but also equity investment in the international capital market."
"Are you preparing to do global VC investment business?" Fang Wanqing asked in surprise.
Su Yi nodded slightly and replied, "More or less. Domestic VC business, in my opinion, is still a bit too limited, and for many international equity investments, the laws and regulations of many countries don't seem to welcome Chinese capital. I want to find a business manager who understands capital operations in this area and VC project investment to manage this business."
"You mean… you want to directly use the money earned in the overseas financial market for overseas capital investment?" Fang Wanqing said. "You don't plan to use these billions of dollars in profit to increase the capital scale of your domestic company?"
Su Yi said, "The domestic company's development is currently smooth, and it doesn't need so much capital. Moreover, large capital inflows and outflows are troublesome. Although 'Huayin International' has already given our company a dedicated foreign exchange seat, large-scale capital inflows and outflows still require them to report to the State Administration of Foreign Exchange, which would cause us a lot of trouble.
So, I plan to keep this part of the funds in the company's fund account in offshore form, and they can be withdrawn at any time when needed, without needing to enter the country."
"Talent who understands offshore capital operations and is proficient in VC investment business…" Fang Wanqing pondered for a moment, then her eyes suddenly lit up. "I thought of someone."
"Who did you think of?" Su Yi eagerly asked.
Fang Wanqing said, "Our department head, Ms. Isabelle, is responsible for VC investment business in the Asia-Pacific region within our company group. Before that, she also worked at 'Citibank,' responsible for foreign exchange business, which perfectly matches your requirements.
Our boss graduated from Harvard Business School and previously led investments in several VC projects.
They have all successfully listed on Nasdaq.
Not only that, she's also a China expert and speaks Chinese quite fluently.
However, as a Wall Street financial executive, I think it would be quite difficult to get her to leave 'Aberdeen Asset' and join your 'Huayi Capital.'
After all, it's not easy to impress her."
"Isabelle?" Su Yi repeated the name, thought for a moment, and said, "Alright, I'll have someone look up her information when I get back. If she fits the bill, then… I hope Miss Fang can help me pass a message to her so I can meet her in person."
"Okay, no problem," Fang Wanqing said, readily agreeing.
"If you ever feel unhappy working at 'Aberdeen Asset,' you're welcome to join our company anytime," Su Yi said with a smile. "I believe our company will offer Miss Fang a better stage."
"Really?" Fang Wanqing smiled noncommittally, not immediately agreeing.
However, facing Su Yi's heartfelt and sincere invitation, she was still quite happy internally.
After that, the three continued to chat for a while.
Su Yi treated them to dinner, and then they dispersed.
Meanwhile…
In the global financial market, the impact of the UK Brexit referendum continued.
At 4 PM, the Hong Kong stock market plummeted by 5% at closing, setting a new annual low.
Immediately after, European stock markets opened, and the stock markets of the UK, France, and Germany all showed significant plunges.
In particular, the UK stock index experienced a historical-level crash, opening with a 7% drop.
As for the US stock market, which global investors pay the most attention to.
The pre-market performance of the three major US stock indices was also dismal, all showing significant plunges.
Of course, the deepest impact and highest correlation were still in the global foreign exchange market.
After continuous news fermentation, although the British pound exchange rate rebounded by nearly 400 points from its lowest point during this period, it still showed a daily decline of over 10% and remained at a 40-year low.
Similarly, while the Euro's exchange rate decline was not as exaggerated.
It also plummeted by over 1000 points, falling below the 1.2000 mark.
And, affected by the UK Brexit referendum 'black swan' event, major global financial institutions have begun to fully align their future expected Euro exchange rates with the dollar parity rate.
In addition to the drastic fluctuations in the online trading market.
In the offline market, various global capital groups continued to sell off the British pound.
Even the Bank of England's large-scale injection of hundreds of billions of dollars in foreign exchange reserves into the market could not curb the panic selling sentiment of global capital at this time.
Su Yi roughly browsed the main market news in the evening.
Then he went straight to sleep.
During the two days of the UK referendum, with the fund heavily holding short positions on the British pound exchange rate.
Even though he already knew the final outcome of the referendum, his spirits had been tense for these two days, and he had only slept for a few hours in total.
So, the first thing he wanted to do now was to sleep.
When he woke up naturally, refreshed and satisfied after a good sleep, it was already Saturday noon, June 25th.
He opened his phone and checked the time and messages.
There were several missed calls, half of which were from Wang Huaijin, and some from Zhang Yanshun of 'Huayin International' and Mr. Frederick, the fund manager of 'Aberdeen Asset Evolution No. 1' main fund product.
Su Yi called them back one by one.
Wang Huaijin mainly wanted to ask him about the special bonus Su Yi had promised.
Zhang Yanshun and Frederick wanted to invite him to dinner.
After all, in this round of speculative operations on the British pound exchange rate, the fund products managed by these two institutions were able to make tens of billions of dollars from the British pound market, and he was indeed an indispensable contributor.
Su Yi thought it would be hard to refuse such kind invitations, and also considered that he might need to cooperate with these two institutions in the international financial market in the future.
So, after some thought, he agreed to the dinner invitations.
Then, for the following week, his dinner engagements came one after another.
Unlike when he first arrived in Hong Kong City, when no one paid him any mind and few people hosted him, now... after everyone heard about his astonishing investment achievements in the British pound exchange rate market, particularly earning tens of billions of dollars, in collaboration with 'Huayin International' and 'Aberdeen Asset'.
Many magnates in Hong Kong City's business community, and many institutional leaders and bosses in Hong Kong City's financial community.
All sent invitation letters to Su Yi.
Almost overnight, he became a celebrity in Hong Kong City's financial circles, and a target for many magnates in Hong Kong City's business community to court and befriend.
Moreover, in addition to invitations and goodwill from these elite high-society figures.
Major financial media outlets also came one after another, all wanting to report on Su Yi's brilliant investment achievements in the British pound exchange rate market, as well as his legendary investment experience.
However, Su Yi politely declined all media institutions.
Although all his capital sources and every penny of profit he earned were legitimate and could withstand anyone's scrutiny.
He felt it was better to keep a low profile.
However, despite his polite refusal of all media organizations' reports about himself and his company.
Some unscrupulous media outlets, without Su Yi's personal or company authorization, still reported the matter.
Thus, the news about 'Huayi Capital' betting heavily on the British pound exchange rate and making billions of dollars in profit during the UK referendum black swan event…
Spread like wildfire, causing an uproar in the financial and business communities in both mainland China and Hong Kong City.
"Oh my goodness, 'Huayi Capital' made a huge bet on the British pound exchange rate during this UK Brexit referendum and raked in billions of US dollars!"
As the news spread, countless people in mainland China and Hong Kong City exclaimed.
"Is this the first time Chinese capital has made such a massive profit by investing overseas in the international financial market?"
"Absolutely incredible! Mr. Su of 'Huayi Capital' is truly a legendary figure. A year ago in A-shares, now in the international financial market… he's truly like a god."
"Billions of US dollars, what kind of concept is that?"
"What concept? Hundreds of billions of Chinese yuan, putting him in the top 50 of the domestic rich list."
"Holy cow, Mr. Su's move really brings glory to the domestic financial industry! He's harvested foreign capital, international capital. This time… let's see what some people have to say?"
"The number one in domestic finance should be Mr. Su, for sure?"
"The key is, this wave, it's not just 'Huayi Capital' under Mr. Su's leadership that earned billions of dollars; I hear Mr. Su also helped 'Huayin International' earn billions of dollars in profit. This is simply… unbelievably impressive."
"My goodness, is 'Huayi Capital' hiring now? I want to work for their company."
"The headquarters are in the Guojin Building in Modu, go, go as a group! But I heard their company's recruitment policy for traders is quite strict, requiring a three-month live trading assessment, but you don't need to provide your own funds."
"Even if the assessment mechanism is strict, you still have to go! If you can get some guidance from Mr. Su, it's worth it no matter what."
"The forex market is truly exaggerated. How much principal did Mr. Su invest? He made so much profit from one 'Brexit referendum' black swan event?"
"Mr. Su invested quite a bit, I heard he put in all his assets."
"More than that, Mr. Su also borrowed a lot of money from 'Huashang Bank' before, but now… none of these are problems anymore."
"This news is no less than an earthquake for the domestic financial sector."
"This is the first time I've heard of Chinese capital sweeping the international financial market, it's so exciting! This shows that foreign institutions are nothing to be afraid of."
"Making money from international capital, harvesting overseas capital, this… couldn't be more welcome."
"Haha… indeed."
"An outstanding fund manager like Mr. Su must be supported! When will the next batch of fund products under 'Huayi Capital' go on sale? I'll invest all I have to support it."
"I don't know, but it's estimated that it might be hard to snatch up shares of their fund products because they're so popular."
"Mr. Su made a fortune in the international financial market, and domestically, the performance of their company's fund products has also reached new highs in the last quarter, right?"
"The overall market this year has largely been on a one-way downward trend, but the performance of 'Huayi Expedition No. 1' fund product has almost doubled. I have to say… Mr. Su's investment ability is truly remarkable. It's just that their fund doesn't publicly disclose which stocks it holds, otherwise, one could truly copy their homework."
As the entire network buzzed…
Both Su Yi himself and 'Huayi Capital' as an institution gained immense renown.
Originally, Su Yi had planned to use Ms. Li's connections and internal employee referrals to issue a recruitment call and hire more talents.
Unexpectedly, with the company's surge in fame.
He didn't even need to promote it.
The Modu headquarters and the Hong Kong City branch received hundreds, even thousands, of resumes daily in their HR department's email.
Meanwhile, as Su Yi finished up with the branch company and was preparing to return to Modu.
There was also good news from Fang Wanqing.
She sent him a message, saying that Isabelle was willing to meet him and hear his terms.
(End of chapter)