Chapter 58
As the market approached a historical high, the systemic risks in the capital market escalated. Unaware of the impending dangers, investors continued to allocate capital and pour leveraged funds into the market.
The suspension of Tiansheng Pioneer Mixed Fund's subscription, coupled with the open redemption option, created a peculiar situation. Despite the positive sentiment surrounding Lu Ming's return and the fund's improved performance, the potential risks in the broader market remained unaddressed.
As the market approached its historical peak, the impending challenges and uncertainties cast a shadow over the unaware investors. The systemic risks hinted at an impending shift in market dynamics, yet the enthusiasm for market participation remained high.
The narrative unfolded against the backdrop of a historic market moment, with both the Tiansheng Pioneer Mixed Fund and the broader market standing on the precipice of significant developments. The interplay of factors in this financial landscape set the stage for a crucial juncture in the unfolding story.
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The market concluded on Friday, June 12, with the Main Board Index hitting a historic high at 5178.19 points, marking a significant milestone.
The updated net value of Tiansheng Pioneer Hybrid Fund stands at:
[RMB 3.3005 (+13.37%)]
In today's news, the China Securities Regulatory Commission issued an internal notice to securities companies, instructing them to suspend access to the new OTC financing port and initiate a cleanup of OTC financing.
On Monday, June 15, the main board index experienced a decline of 103 points, representing a 2% decrease and signaling the beginning of a normal adjustment phase.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 3.7939 (+14.95%)]
Lu Ming resumed his role as fund manager, engaging in intraday speculation and frequent stock exchanges, leading the top ten stocks with heavy holdings to collectively hit the daily limit. Li Mingyang, now an assistant delivering tea to the boss, gazed in astonishment, unable to grasp the nuances of intraday trading.
On Tuesday, June 16, the main board index saw a relatively strong adjustment day, falling by 175 points or -3.47%.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 4.2825 (+12.88%)]
The comment section buzzed with excitement, reflecting envy and jealousy from those eager to join the lucrative ride. Requests for an open subscription flooded Lu Ming's social account private messages and Tiansheng Fund's official V comment area.
On Wednesday, June 17, the main board index rebounded by 80 points, signifying a 1.65% increase and marking a normal rebound.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 4.8401 (+13.02%)]
Commentators praised Lu Ming for reclaiming the fund manager position in just five trading days, breaking through the high of 4.5792 yuan on Thursday, May 28. The net value of the fund reached a new peak.
On Thursday, June 18, the main board index fell by 182 points, or -3.67%, closing at 4,785 points. This was deemed acceptable by investors, considering the rapid previous ascent.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 5.2248 (7.95%)]
On Friday, June 19, the market witnessed its first plunge after reaching a new high. The main board dropped by 307 points, or -6.42%, closing at 4,478 points. Various media outlets started focusing on the capital market's violent fluctuations.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 5.5529 (+6.28%)]
Lu Ming continued his streak of zero drawdowns and sustained large-scale profits, providing investors with a return of +107.82% in the past seven trading days. Tiansheng Pioneer Mixed Fund secured a spot on the hot search list for the second time and earned the moniker "Tiansheng Demon Girl" from netizens.
On Tuesday, June 23, the main board index rebounded by 98 points, a 2.19% increase. Many investors who had exited the market in the early stages began re-entering.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[5.7117(+2.86%)]
On Wednesday, June 24, the main board index rose by 113 points, a 2.48% increase, reaching the day's highest point at 4690 points. Everything unfolded according to the market's policy trajectory.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 5.7911 (+1.39%)]
Since Lu Ming took charge, Yaoji underperformed the market for the first time due to oversleeping at Su Xiaoman's house and failing to show up for work. Li Mingyang took the reins.
On Thursday, June 25, the main board index fell by 162 points, or -3.46%, with 56 stocks in the two cities rising by the daily limit. Large-scale stocks experienced a sharp decline, prompting many short-term customers to exit the market.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 6.1223 (+5.72%)]
Yaoji underperformed the market the previous day but rebounded sharply against the trend on this day, maintaining zero drawdown thus far.
On Friday, June 26, the main board index plummeted by 334 points, or -7.4%, closing at 4,192 points. The ChiNext plummeted by -9%, triggering a limit at 2,000 shares and resulting in a short-term adjustment of nearly 1,000 points. The daily limit of stocks in the two cities dropped to 35.
A large number of investors sensed trouble and prepared to leave the market.
The updated net value of Tiansheng Pioneer Hybrid Fund is:
[RMB 7.0523 (+15.19%)]
On the same day, over 2,900 OTC funds of the same kind experienced a decline. Among them, 320 public funds fell by more than -8%, and 1,145 funds fell by more than -4%. Tiansheng Pioneer Mixed Fund emerged as the only one with a net value increase of more than 1% on that day among public funds.
Ignoring the market environment, the "Tiansheng Demon Girl" surged violently against the trend, earning Lu Ming the title of a domestic capital market legend.