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China Fund News reporter Wu Jun

Recently, a rumor that a "quantitative institution bought the bottom of convertible bonds" has attracted much attention in the financial circle, and many market participants have speculated which quantitative institution it was and what the truth was. On the morning of July 23, a screenshot of the net value of a product under Ningbo Square and Investment Management Partnership (Limited Partnership) (hereinafter referred to as Square and Investment) was circulated on social media.

In response, Square and Investment issued a "Solemn Statement" in the evening. The company said that some Internet self-media and social chat groups in the market spread misleading statements that a certain product of the company was a bottom-fishing convertible bond, causing the product's net value to fall, which interfered with the company's normal operations. "The product was liquidated and entered the liquidation process in the second quarter of this year. The net value fluctuated during the liquidation process due to the resumption of trading of suspended stocks. It was definitely not a bottom-fishing convertible bond as rumored."

Square and Investment Statement:

Fluctuations in the net value of the product are definitely not caused by bargain hunting of convertible bonds

Fund Jun learned from the industry that Square and Investment communicated with the channel on Tuesday morning. The company said that a screenshot of the net value of a Square and product was circulated in various groups and social media in the morning. "The product has submitted the liquidation process a few months ago. The net value has suddenly changed due to the release of restricted shares. It is definitely not the rumored bottom-fishing convertible bonds. Square and Investment has been deeply engaged in stock alpha strategies since its establishment. We are urgently communicating with various platforms to deal with it. We are very sorry for causing unnecessary panic."

In the evening, Square and Investment officially released a "Solemn Statement" on its official microblog. The company said that on July 23, some Internet self-media and social group chats in the market spread misleading remarks that a certain product of the company had bought the bottom of convertible bonds, causing the net value of the product to fall, which caused panic among investors and partners who followed Square and Investment and disrupted the normal operation of the company.

"The product has been cleared and entered the liquidation process in the second quarter of this year. The net value fluctuated during the liquidation process due to the resumption of trading of suspended stocks. It is definitely not the bottom-fishing convertible bond as rumored." Square and Investment said.

The company also said that Square and Investment has been focusing on the field of stock quantification since its establishment and has always adhered to its investment philosophy. "Square and Investment firmly protects the legitimate rights and interests of the company and investors. If there are any further rumors, our company will take all legal measures to investigate their legal responsibilities in accordance with the law."

The management scale is between 5 billion yuan and 10 billion yuan

Information on the website of the Asset Management Association of China shows that Square Capital is a well-known quantitative private equity institution with a 9-year history. It was established on August 26, 2015 with a registered capital of RMB 10 million, and completed its registration as a private securities investment fund manager on October 30, 2015.

At present, the office of Square and Investment is located in Zhongguancun, Haidian District, Beijing, where quantitative talents gather. The company has 30 full-time employees and the management scale ranges from 5 billion to 10 billion yuan. The company's products mainly include multi-strategy hedging, CSI 1000 Index Enhanced, CSI 500 Index Enhanced, quantitative neutral, CTA, etc.

Lv Jieyong, the actual controller, general manager and investment director of Square and Investment, worked in Shenzhen Tencent Computer Systems Co., Ltd. in his early years as a core algorithm researcher in the search division; in February 2009, he joined Bosera Fund and became an assistant investment manager in the investment department; in June 2012, he joined CITIC Securities and served as a systematic strategy manager in the alternative investment department; in December 2015, he started his own business and founded Square and Investment to develop quantitative strategies for investment.

Huang Yi, head of compliance and risk control at Square Investment, also has many years of experience in the financial and technology industries. He has worked in the risk management departments of companies such as Hengtai Securities, Taikang Life Insurance, and JD Digits, and joined Square Investment in July 2021.

Editor: Xiaomo

Audit: Wooden Fish

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