西部证券20042007年商业计划书

1WesternXXFMCBusinessPlan(2004-2007)2Content1、ProfileofWesternXXAssetManagementCo.,Ltd.2、OrganizationalStructure3、BusinessDevelopmentStrategies4、Roadmap5、AssumptionsandForecast6、SalesBreakdownin200531、ProfileofWesternXXAssetManagementCo.,Ltd.4RegisteredCapitalandShareStructureRegisteredCapital:RMB100millionRegisteredPlace:PudongDistrict,Shanghai,ChinaProposedShareStructure:WesternSecuritiesCo.,Ltd.RMB40millionOtherforeignsponsorRMB33millionShaanxiInvestmentGroupCo.,Ltd.RMB27million5BusinessScopeFundmanagementandinvestmentadvisorybusinessinChinaaspermittedbytheapplicablelaw.(incl.promotion,sale,issuanceandmanagementofinvestmentfunds)Otherassetmanagementbusinesspermittedbytheapplicablelaw.6Vision,PhilosophyandStrategyVisionOneoftheleadersinthegreatChinawealthmanagementPhiloshophyInvestors‘benefitsareeverythingStrategyBrand,ServiceandProductallinone7BusinessGoalGrowtheJVintooneofthetop5FMCsinChina,inthefollowingthreecategories:•Profitability•FundPerformance•TotalAUM•Professionalism82、OrganizationalStructure9FMC‘sOrganizationChart(atthebeginning)CEO(1)CMO(1)CIO(1)CEO/COO(1)Sales&CustomerService(5)Marketing&Productdevelopment(3)HeadofCompliance(1)R&D(5)FundManager(2)BODChairman(1)Trader(2)FundAccount-ing&TA(3)IT(2)Admin&HR(2)Auditing&Compliance(2)32personsinthe1styear(proposed)10FMC‘sOrganizationalChart(in3years)CustomerServiceDept.CMOCIOCOOFundManage-mentDept.FunddealingDept.R&DDept.CEOTAITDept.HR&Admin.Dept.FundSalesDept.MarketingDept.StrategyresearchFinanceengineer-ingIndustry&CompanyresearchCentraldealingroomCallcenterFundAccount-ingMarket-ing&Productdevelop-mentDirectsaleAgencysaleOASystemmaintain-enceComplianceofficeAuditing&Supervis-ingInfo.disclosureHeadofCompliance11StructureofGovernanceBoardofdirectorsQualificationexaminationandcompensationcommitteeCEOTheshareholders’meetingBoardofsupervisorsThecompliancecommitteeHeadofCompliance12StructureofBusinessOperationCEOInvestmentdecisioncommitteeRiskcontrolcommitteeFundappraisalgroupCMOCIOCOOHeadofCompliance133、BusinessDevelopmentStrategies14Addinglong-termvalueDistributionChannelsClientsbaseLocalmarketacknowledgement22branches,strategiccooperationwithICBC,CCBetc.700，000individualclients,maininstitutionalclientsexceed400Excellentperformancerecord,goodreputation,Stronggovernmentsupport,OpportunitiesfromthedevelopmentofwesternChinaProfessionalismInternationalexperienceProductdevelopmentInternationalstandardinFM.&researchOrganizationalKnowHow;InternationalmanagementteamFundproductinnovation&importation15OutsourcingValue-addedbusinessMarketSegmentationProductDesignPromotion/FundDistributionResearchandDevelopmentFundTransaction/InvestmentManagementRiskControl/PerformanceevaluationNonvalue-addedbusinessComplianceHR/AdministrationITMaintenanceCustomerServiceTA/FundaccountingInternalAuditOutsourcingtothereliablethird-party16MarketSegmentationMarketanalysis•Marketvolume182billionunitsin2003•GrowthrateAver.annualgrowthrate50%•NewopportunitiesQFII,NationalSecurityFundsassetallocation•DeregulationinfundissuanceprocedureCustomersegmentation•Institutionalv.s.Individualclients40%v.s.60%(estimate)•InternalsalespackageA.M.clientstransferintofundsholders•…17CustomerNeedsAnlysisReturnSafetyLiquidationGovernmentOrganizationLowHighMediumInsuranceCompanyHighMediumLowState-ownedEnterpriseLowHighMediumPrivate-ownedEnterpriseMediumHighHighWealthyInvestorHighMediumLowOrdinaryInvestorLowHighLow18Identifyingtheneedsofdomesticcustomers•Institutionalclients:Fixedincome,lowrisk,cashflowmanagement•Individualsclients:Growth,Smallandmiddlecap,activemanagementFeeStructurevariesaccordingtoclientbase•Institutionalclients:Lowsubscriptionandredemptionfee•Individualsclients:VariesaccordingtotheperiodofholdingDecidingondistributionchannels,dependingontargetgroups•Institutionalclients:Directsales/custodianbankrecommendation•Individualsclients:Agencysalesviabanks,securitieshousesetc.CustomerSegmentation19ProductStrategy•PresentfundproductsEquity,bond,balance,hybrid,index,moneymarket,guarantyetc.•CompetitionproductsDeposit,fundbidinginsurance,assetmanagement,trust,undergroundfundetc.•DevelopmentplanMeettheneedsofmainclientsgroup•ProductframeBasedoncapitalmarketenvironment•Image/Brand•…20GuarantyFundMoneyMarketFundBondFundBalanceFundEquityFundProductFrameFundType21DistrubutionDistributionmethods•Directsalestomaininstitutionalclients•Agencysalesthroughagencybanks,securitiesfirms,ChinaUnionpayetc.•E-businessthroughwebsiteandcallcenter•…Distributionchannels•Presentchannelsbanks,securitiesfirms,internetetc.•Channelsselection3-4commercialbanks,10sec.firms•Incentiveschemefront-loadfeekickbacks•Bindingpromotionflighttickets,insurance,creditcard,lotteryetc.22InvestmentManagementInvestmentStrategies•Active/Passive•Benchmark•Errortracking•Performanceevaluation/Riskmanagement•ReportingsystemResearch•Toptodown/Bottomup•Investmentstrategies•Listedcompaniesresearch•Modeling•Stock-basedloan•…23OperationalmanagementITframework•TA(Self-establishment/Thethird-partysupporting)•Softwareandhardwareselection•Customerservicesy