The private equity manager who studied under the Nobel Prize in Economics and learned “Chinese and Western knowledge, Bogutongtongjin” actually lost money as a “rat warehouse”.
An administrative penalty decision updated by the CSRC on May 6 shows that the CSRC was then Shanghai Tianyi Investment Management Co., Ltd. (hereinafter referred to as “Tianyi Investment” “) Du Jingtao, the controlling shareholder, legal representative and executive director, conducted investigation and trial of the use of undisclosed information to trade stocks.
The CSRC ’s administrative penalty decision shows that the ordinary and credit accounts of Shanghai Tianyi Investment ’s controlling shareholder, legal representative, and executive director Du Jingtao, and Tianyi Investment The convergence transactions of its Tianyi No. 1 Fund and CICC’s revenue swap business and the ordinary securities account of the Tianyi No. 1 Fund totaled 495 million yuan.
According to statistics, from September 7, 2015 to August 6, 2019, Tianyi No. 1 Fund and CICC ’s income swap business traded 32 stocks . During this period, the “Du Jingtao” credit account bought 23 identical stocks before, simultaneously with or later than Tianyi No. 1 Fund and CICC, and the transaction value of the convergence transaction was 187,073,200 yuan.
From August 11, 2015 to August 6, 2019, the “Du Jingtao” ordinary account and credit account precede, synchronize with, or later than Tianyi No. 1 The fund’s ordinary securities account bought 83 identical stocks, and the convergence transaction value was RMB 308.4491 million.
The penalty decision letter shows that the source of funds for the “Du Jingtao” account is Du Jingtao and his spouse Dai Moujing ’s own funds. Du Jingtao stated in the investigation transcript that the “Du Jingtao” account The transaction was decided and ordered by his own, and his younger brother Du Mousi was responsible for the execution, and the operation location was at the location of Tianyi Investment Office. According to the filing information of China Securities Investment Fund Industry Association, Du Mousi is the person in charge of compliance risk control and information disclosure of Tianyi Investment.
According to the calculation of the Shanghai Stock Exchange and Shenzhen Stock Exchange, the “Du Jingtao” ordinary and credit accounts and Tianyi No. 1 Fund and CICC ’s income swap business, The above-mentioned convergence transactions of the general securities account of Tianyi No. 1 Fund totaled a loss of RMB 310.35 million.
Du Jingtao, 48, founded Tianyi Investment in March 2015. On June 11, 2015, Tianyi Investment was registered as a private equity investment in China Securities Investment Fund Association Fund manager, Du Jingtao is the controlling shareholder, legal representative and executive director. The company in 2015On August 31, a private equity fund product named “Tianyi No. 1 Private Equity Investment Fund” was filed with the Fund Industry Association. Du Jingtao was the investment manager of the fund product.
According to Tianyi Investment website, Du Jingtao holds a Bachelor of Materials Science Engineering from Tongji University in Shanghai, a Master of Economics from the Department of World Economics at Shanghai University of Finance and Economics, and an MBA in Business Administration from the University of Chicago Business School Master’s degree, once studied under the Nobel Prize in Economics masters Richard Seller and Eugene Fama, studied Chinese and Western, Bogutongtongjin.
The above website stated that Du Jingtao has worked in investment banking, venture capital, internet entrepreneurship, etc .; nearly ten years of sales experience in China International Capital Corporation; 1996 He started investing in A shares at the earliest in the year, and has been involved in a variety of financial investment varieties in Hong Kong stocks, US stocks, warrants, futures and other financial markets. He has created a return rate of nearly 60 times in the A stock market within two years.
According to the introduction, Du Jingtao also combines his life experience of study, work, investment, as well as value, growth, reversal, quantification, event-driven, thematic investment, etc. Investment factors, comprehensive effective market theory, behavioral finance, fundamentals, and technical analysis and other financial theories and practices have created unique value trend investment and trading concepts; and are good at large-scale asset allocation. 
< / div> The CSRC stated that Du Jingtao ’s actions violated the provisions of Article 23 (5) of the “Interim Measures for the Supervision and Management of Private Equity Investment Funds” (hereinafter referred to as the “Private Investment Management Measures”) and constituted the first of the Fund Law The practitioners mentioned in the first paragraph of Article 123 use undisclosed information to engage in illegal trading activities. Based on the facts, nature, circumstances and social hazards of the parties ’illegal acts, and in accordance with the provisions of the first paragraph of Article 123 of the Fund Law, I will decide to order Du Jingtao to make corrections and impose a fine of RMB 500,000.