news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

(Original title: General Manager of Xingyin Fund resigns, may go to shareholder Huafu Securities, equity business has not improved during his tenure)

July 23,XingyinfundThe company issued a senior management change announcement stating that the company's general manager and chief information officer Zhao Jianxing will leave on July 22, 2024 due to work transfer. Chairman Wu Ruoman will serve as acting general manager, and the company's chief information officer will be replaced byChen XiaoYi took over.

Jiemian News reporter learned that Zhao Jianxing has served for about three years and may be transferred to the shareholder side.HuafuSecuritiesOther internal institutions.

Xingyin Fund was established in October 2013. Currently, Huafu Securities holds 76% of the shares, while Guomai Technology holds 24%. The company was formerly known as Huafu Fund, which was renamed Xingyin Fund in October 2016.

Tianyancha APP penetrates the equity and shows that the actual controller of Huafu Securities is the Fujian Provincial Department of Finance, and the shareholders also include the Fujian Provincial State-owned Assets Supervision and Administration Commission andIndustrial Bank(601166.SH). Industrial Bank controls Industrial Bank InternationalTrust, thus becoming a shareholder of Huafu Securities. Industrial Bank International Trust holds approximately 4.35% of Huafu Securities.

Zhao Jianxing took over as general manager of Xingyin Fund in August 2021 and served for about three years. During this period, the scale of management increased from 57.4 billion yuan to the latest 128.5 billion yuan.Monetary FundThe scale of bond funds is 57.2 billion yuan and 68.7 billion yuan respectively, totaling 125.9 billion yuan. The scale of equity funds is less than 3 billion yuan, accounting for a very small proportion.

A person close to Xingyin Fund told reporters that when Zhao Jianxing took office, he proposed a development plan of breaking through the management scale of 100 billion and balancing the product line. As of his departure, the latter had not been achieved.

Wu Ruoman, the acting general manager and current chairman, has been with Xingyin Fund for about a year. In May 2023, the former chairman Zhang Guiyun left the office and Wu Ruoman took over as chairman and also served as executive director of Shanghai Xinghan Asset Management Co., Ltd. Wu Ruoman once said that Xingyin Fund will accelerate the pace of high-quality development, continue to operate in compliance, and continuously enrich and optimize product layout and management.

Although both executives have expressed the idea of ​​optimizing product lines, as of now, Xingyin Fund's equity product line still needs to be completed.

Looking specifically at the equity sector, the total scale of 17 mixed funds reached 1.7 billion yuan, and the performance of products established after 2020 was poor. The total scale of the six stock funds reached 800 million yuan. The earliest established Xingyin Research Selection was an active product. The stock funds deployed in recent years areETFOr refers to increased products.

According to past information, there have been several rounds of changes in the senior management of Xingyin Fund.

Since its establishment, there have been 4 chairmen, including the current chairwoman Wu Ruoman. Except for the first chairwoman Wu Jie, who served for only 4 months, the second and third chairmen Chen Wenqi and Zhang Guiyun served for more than 4 years.

At the general manager level, in 2015, the first general manager Lin Yu served for 8 months and then transferred to the position of chairman of the supervisory board of Xingyin Fund. The second general manager Zhang Li left the position after serving for 6 years due to work transfer, and the chairman Zhang Guiyun took over the position concurrently. Half a year later, Zhao Jianxing was hired as the new general manager.

Since its establishment, the scale of Xingyin Fund has been growing overall. During Zhang Li's tenure as general manager (March 2015 to March 2021), the scale of management reached a peak of about 72 billion yuan at the end of 2015. After that, the scale declined, and after several developments, the scale returned to an upward trend in 2020. The main reason for the decline was the poor development of the scale business of money market funds and mixed funds.

During Zhao Jianxing's tenure as general manager (August 2021 to July 2024), Xingyin Fund's management scale also declined. The main reason was that the equity business did not develop smoothly.

In terms of operations, Wind data shows that Xingyin Fund achieved a peak net profit of 118 million yuan in 2019. In recent years, the level of net profit has been on a downward trend, and the 2023 annual report data shows that the net profit is about 610 billion yuan.

Since 2024, public fund executive changes have remained relatively frequent. Wind data shows that so far this year, a total of 84 fund companies have experienced executive changes, involving 184 executives. Among them, the number of changes in chairman, general manager, and deputy general manager was 39, 49, and 69 respectively.