news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Li Qing, reporter of China Fund News

Under the structural differentiation market conditions, competition within the fund industry has become increasingly fierce, and some fund managers are facing the challenge of changing jobs.

On July 26, Zhuque Anxin Return Bond Fund issued an announcement on the change of fund manager. Fund manager Wang Zhuangfei was transferred to a research position due to work arrangements. Another fund manager who co-managed the fund, Yu Shen, continued to serve as fund manager.

In the view of industry insiders, there are many reasons for changes in investment and research positions in public funds. Performance and scale are the most important factors. Personal career development paths will also affect adjustments to investment and research positions, which overall reflects the industry's trend of accelerating the survival of the fittest.

Another fund manager transferred to a research position

Recently, there has been a new case of fund managers switching to research positions.

On July 26, Zhuque Anxin Return Bond Fund issued an announcement on the change of fund manager. Due to work arrangements, fund manager Wang Zhuangfei was transferred to a research position on July 25. Another fund manager who co-managed the fund, Yu Shen, continued to serve as fund manager.

Public information shows that Wang Zhuangfei has a master's degree in finance. He has worked in Ping An Trust Co., Ltd. He joined Suzaku Fund in April 2019 and officially served as a fund manager on September 2, 2022.

In the nearly two years that Wang Zhuangfei has been a fund manager, he has only managed one secondary bond fund under the company, the Suzaku Anxin Return Bond Fund. Wind data shows that during his tenure at the fund, the return was -1.25%, which is in the middle of similar funds.

Suzaku Anxin Return Bond Fund is the only bond fund under Suzaku Fund. As of the end of the second quarter of this year, its scale was 172 million yuan, which was more than 60% less than the end of last year. Bond funds account for less than 2% of the company's non-cash fund scale.

Several fund managers changed positions this year

Judging from the personnel changes since the beginning of this year, it is not uncommon for fund managers to move to research positions.

On July 3, Xinhua Fund issued an announcement on the change of fund managers for two of its funds, including Xinhua Fengli Bond Fund and Xinhua Anxiang Duoyu Regularly Open Flexible Allocation Mixed Fund. The then fund manager Yu Hang was transferred to the position of assistant fund manager due to internal transfer within the company.

On June 22, Soochow Fund simultaneously issued announcements on changes in fund managers for four funds, including Soochow New Economy Mixed Fund, Soochow Alpha Flexible Allocation Mixed Fund, Soochow Anxiang Quantitative Mixed Fund, and Soochow Anying Quantitative Mixed Fund.

The announcement shows that two fund managers of Soochow Fund, Ding Ge and Wang Rui, have resigned from all products under their management. After resigning, Ding Ge became a senior industry researcher, and Wang Rui became an industry researcher. The website of the Fund Industry Association also shows that Wang Rui is no longer working at Soochow Fund.

Many industry insiders said that there are many reasons for changes in investment and research positions in fund companies. "For fund companies, performance is the most objective assessment indicator. If the assessment does not meet the standards, it will most likely lead to changes in the positions of relevant fund managers." said a person from a fund company in Shenzhen.

Some people from fund companies also said that the job transfer of fund managers may be affected by both performance and scale. The best situation is that excellent performance drives scale growth. Some fund managers, although their performance is not particularly outstanding, are good at marketing and can bring about economies of scale to a certain extent. The more worrying situation is that if both performance and scale are not satisfactory, they may face the risk of job transfer.

"Some of the adjustments to investment research positions are due to performance reasons, and some are based on the fund manager's own career plan." According to a Beijing fund company insider, in fact, fund managers face the pressure of ranking in the entire market all year round, and the work intensity is very high. When a fund manager left his fund company, he revealed that he might continue to stay in the public fund industry in the future, but might consider switching to a research position and focus more on the research field.

Editor: Xiaomo

Audit: Wooden Fish