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recently, promoting the entry of medium and long-term funds into the market to support the steady development of the capital market has been one of the hot topics of market concern. recently, the central financial services office and the china securities regulatory commission jointly issued the "guiding opinions on promoting the entry of medium and long-term funds into the market" to encourage bank wealth management and trust funds to actively participate in the capital market, optimize the incentive and assessment mechanism, unblock market entry channels, and increase the scale of equity investment.

how do trust funds participate in the capital market? how to get through the blocking point of entrusted funds entering the market? let’s hear the answers from some trust company people.

committed to improving equity investment capabilities

since the implementation of the new asset management regulations, trust companies have been promoting standardization and net-value transformation, improving equity investment capabilities and improving related product lines.

everbright trust said that the current participation of trust funds in the capital market can start from the advantages of the trust system itself.first, take advantage of the long-term capital of family trusts to become patient capital, participate in the primary and secondary markets at the same time, combine the advantages of the trust system and the capital market system, and serve the national scientific and technological innovation strategy;the second is to take advantage of the wide variety of trust investments to allocate large categories of assets across markets, varieties and regions., set up portfolio investment trust products with different risk levels to increase investment returns while diversifying risks for investors, achieve value preservation and appreciation of trust assets, and implement investor protection policies;the third is to use the service trust model to provide a full range of capital market services focusing on asset service trusts., provide personalized services such as allocation, property supervision, and fund settlement for all parties in the capital market, follow the development path of differentiated asset management institutions, return to the origin of trust, and implement the three-category policy guidance.

deng ting, a special researcher at the china trusteeship association, said that currently trust companies can invest in the equity market by issuing equity asset management trust products, hybrid asset management trust products, and fixed income + asset management trust products. trust companies can actively manage, or we can cooperate with external private equity and public equity institutions to provide customers with tof and fof products for underlying investment in private equity funds and public equity funds.

a relevant person from ping an trust said that under the background of the new three trust classifications,the entry of trust funds into the market is generally realized through asset management trusts and asset service trusts.at present, many trust companies are actively deploying the standard product market, and most of these funds have entered the capital market. it is expected that the scale of the standard product business will grow more actively and positively in the future. this is also a very important sector that has driven the overall stabilization and recovery of the trust scale in recent years.

open up the blocking points for trust funds to enter the market

people from trust companies interviewed generally said,we are optimistic about the healthy development of the industry in the future and will actively promote the opening up of the blocking points for trust funds to enter the market.

everbright trust stated that this policy proposes to create new monetary policy tools to support the capital market to enhance the wealth effect of the private sector, with the core goal of increasing private sector income growth in the long term, so it is confident in the healthy development of the industry in the future.

focusing on opening up the market congestion for trust funds, everbright trust said that trust companies still need to increase investment.first, strengthen the investment research capabilities of trust companiesestablishing a professional talent team and implementing long-term assessment are the guarantees for improving "long-term money and long-term investment" and increasing the scale of equity trusts;the second is to increase information disclosure, improving trust product data governance capabilities and transparent investment management are the basis for gaining investor trust and investor protection;the third is to stabilize the construction of risk control system, a flexible and comprehensive risk control system and an efficient internal decision-making system are the core to avoiding capital market fluctuations and improving investment winning rates.

deng ting said that in terms of participating in the primary market, trusts also face policy obstacles. for example, trusts cannot directly participate in private placements of listed companies and need to be in line with the regulatory standards of other private equity asset management plans. this will help expand the channels and methods for trust funds to participate in capital market investment, allowing trusts to participate in the capital market more deeply and support the development of the real economy.