Original title: The scale of staff turnover in the public offering hits a record high in the year, more than 200 fund managers changed their doors
The number of public fund managers leaving has set a record.
Wind data shows that as of August 24 this year, 207 fund managers have resigned, an increase of 17.6% compared to the same period last year.
On August 24, another fund manager under the Penghua Fund announced his resignation. According to the announcement, Zhang Hang, the former fund manager of the Penghua Value Selection and Penghua Power Growth Hybrid Fund, resigned due to personal reasons and did not transfer to other positions in the company.
The 21st Century Business Herald reporter noticed that the simultaneous announcement was also the case of Penghua Fund’s fund manager Luo Jie and Liu Taiyang leaving the relevant fund manager due to the company’s work arrangements. Among them, Liu Taiyang still served as the fund manager and Luo Jie transferred. Other jobs in the company.
“In the past two years, the market has performed well, and the talent flow in the industry has been relatively frequent.” A large public equity fund in South China told the 21st Century Business Herald reporter. “On the one hand, the company has fund managers who have left for various reasons. Influx, everyone is seeking better development.”
From the data point of view, the destination of outgoing fund managers is still relatively fixed, going to peers, to private equity, or to the brokerage industry.
The number of fund manager departures hits a new high
Overall, of the 147 fund managers in the market, 101 fund managers resigned within the year, accounting for 69%.
Wind data shows that there are 29 companies with more than 3 fund managers leaving. Among them, the largest number of outgoing fund managers are Harvest Fund, Xinhua Fund and Beixin Ruifeng Fund. All three companies have 6 fund managers leaving.
In addition, SDIC UBS Fund, Yinhua Fund and Qianhai Kaiyuan Fund all have 5 fund managers leaving; Penghua Fund, Everbright Prudential Fund, China Merchants Fund, Boshi Fund and other 6 fund companies have 4 A fund manager left.
Specifically, Harvest Fund’s resigned fund managers this year include Yan Yuan, Chen Ye Yannan, Gao Feng, Zhang Miao, Yin Ye, and the national anthem. Among them, Zhang Miao has the longest tenure of more than 6 years; Xinhua Fund’s resignation The fund managers include Wang Hao, Shen Fengqi, Wang Bin, Zhong Jun, Yu Zeyu, etc. Among them, Yu Zeyu is a veteran who has served more than 8 years.
In fact, the personnel changes of Xinhua Fund have been relatively frequent after the equity changes.
In April this year, Zhai Chenxi succeeded Zhang Zongyou as the chairman of Xinhua Fund; in May, Zhai Chenxi succeeded Zhang Zongyou as the legal representative of Xinhua Fund. Earlier in November 2020, Liu Quansheng, the former general manager of Xinhua Fund, resigned, and Zhai Chenxi took the post of general manager at that time.
In 2020, Xinhua Fund will leave 4 fund managers throughout the year. Among them is Cui Jianbo, former deputy general manager and investment director of Xinhua Fund. Cui Jianbo has served as the fund manager of Xinhua Pan-Resources Advantage Hybrid Fund since March 2010. Cui Jianbo has more than 10 years of public investment experience since he resigned from Xinhua Fund. .
Among the six fund managers who left Beixin Ruifeng this year, Yu Junhua has been with the company for the longest time. He has worked as a fund manager for Beixin Ruifeng for more than 6 years.
It is worth mentioning that at the same time that the 6 fund managers left, Beixin Ruifeng Fund hired 4 new fund managers, while the company currently has only 8 fund managers.
A reporter from the 21st Century Business Herald found that Beixin Ruifeng Fund currently has 25 funds with a management scale of 7.817 billion yuan. Although the public offering market has been hot in the past two years, the management scale of the fund company has shown a downward trend.
Data show that the scale of Beixin Ruifeng Fund’s management reached its highest point of 13.395 billion yuan at the end of the first quarter of 2020, but then there was a volatility decline, falling back to 8.127 billion yuan at the end of the third quarter of 2020. After a slight increase at the end of 2020, the scale of management dropped to 6.94 billion yuan at the end of the first quarter of this year.
“Inter-industry job-hopping, self-employment, and last elimination are all reasons for fund managers to leave. Under the background of the hot market, frequent changes are not surprising. For example, the last climax of fund manager resignation was in 2015.” A large public offering Fund sources said.
The talent war of fund companies
Although more than two hundred fund managers have resigned, at the same time, there are still 398 fund managers newly hired this year.
In fact, the 21st Century Business Herald reporter’s survey found that some large fund companies also have more frequent turnover of personnel. Many companies have reshaped their investment and research systems for popular tracks, and fresh blood is naturally indispensable.
For example, Harvest Fund, Harvest Fund is not only the company with the largest number of fund managers leaving, it is also the company with the largest number of new fund managers this year.
Statistics show that as of August 24 this year, Harvest Fund has hired 14 new fund managers.
“Since the upgrade of the investment research system last year, there has indeed been some personnel turnover within Harvest Fund. Some fund managers have resigned, and many more have been staff replenishment. In addition to the internal training of the company, there are also external outstanding talents introduced.” A close to Harvest Fund A person from the fund told the 21st Century Business Herald reporter.
According to the 21st Century Business Herald reporter, the “New Decade” investment research strategy launched by Harvest Fund focuses on building a series of high-quality stock investment teams. Its boutique stock strategy covers the entire market track, industry track, and large-cycle equity and debt linkage investment research team, and deepens the fundamental research on the four major aspects of technology, health, consumption and manufacturing that best represent the direction of China’s economic development. For example, the appointment of Guikai as the main fund manager of growth style; the appointment of Yao Zhipeng as the main fund manager of manufacturing investment and so on.
In addition to Harvest Fund, Penghua Fund, Guangfa Fund, Essence Fund, and China Asset Management have newly hired more than 10 fund managers. Among them, Penghua Fund hired 13 fund managers and left 4 fund managers; GF Fund hired 11 fund managers and left 3; China Asset Management hired 10 fund managers and left 3; Essence Fund only new Ten fund managers were hired, and no fund managers left.
“In the past two years, many fund companies have used the upsurge of equity fund development to invest in equity, and many of them have recruited outstanding investment and research talents from the outside. This has led to an increase in human quotations for a period of time.” The aforementioned public fund sources said, “Because the appeal of star fund managers in the market in the past two years is very obvious, everyone’s desire for talent is naturally stronger.”
(Author: Jiang Shiqiang Editor: Zhu Yimin)
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