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China Fund News reporter Tian Xin

Another fund company general manager has officially taken up his new post.

Dongxing Fund officially announced that Huang Yan has recently taken office as the company's general manager, and is also the second general manager of this securities-based public offering company.

Dongxing Fund was established in 2020 and was transformed from the fund business department of Dongxing Securities. As of the end of the second quarter of this year, the company's management scale was close to 40 billion yuan, ranking among the top 100 in the industry. From the perspective of product structure, fixed income products account for the majority, and bond funds also occupy the absolute majority of the non-cash scale of more than 26 billion yuan.

It is worth mentioning that with the rapid growth of management scale, the company turned losses into profits in 2022.

New general manager of Dongxing Fund takes office

Recently, Huang Yan officially took office as the general manager of Dongxing Fund, becoming the second general manager of this securities firm's public offering.

The announcement shows that Huang Yan is a senior industry veteran. He has served as Director of the Bond Issuance Division of the Fund Planning Department, Director of the Bond Issuance Division of the Fund Department, and Deputy General Manager of the Fund Department of the Agricultural Development Bank of China; from September 2018 to January 2020, he served as Deputy General Manager of Shangyin Fund Management Co., Ltd.; from February 2020 to October 2022, he served as Vice Chairman, Executive Vice President, and Vice President of Guolian Fund Management Co., Ltd. (formerly "Zhongrong Fund Management Co., Ltd."). Joined Dongxing Fund Management Co., Ltd. in May 2024.

On August 4 last year, Dongxing Fund issued an announcement on the change of senior management. The announcement showed that the company's first general manager Wang Qing resigned from the position of general manager for personal reasons and left the company on August 2, 2023. The position of general manager was replaced by the company's chairman Niu Nanjie.

Dongxing Fund was established on March 17, 2020. It was transformed from the fund business department of Dongxing Securities and is a wholly-owned subsidiary of Dongxing Securities. Dongxing Securities' controlling shareholder is China Orient Asset Management Co., Ltd.

At the end of the second quarter, the scale of non-goods exceeded 26 billion yuan

As a small and medium-sized fund company affiliated with a securities company, Dongxing Fund has experienced rapid development since 2022. The total scale of public fund management has exceeded 20 billion yuan and 30 billion yuan respectively, and once reached a new level of 40 billion yuan in the fourth quarter of last year.

According to the latest data, as of June 30, 2024, the public fund management scale of Dongxing Fund is 39.5308 billion yuan. If the two new funds established in the second half of this year are included, the fund scale has returned to the 40 billion yuan mark.

In terms of product types, fixed income accounts for the majority. As of the end of the second quarter, Dongxing Fund's non-cash scale was 26.111 billion yuan, of which 9 bond funds had a scale of more than 25.3 billion yuan. If new funds established since July are included, the scale of bond funds exceeds 26 billion yuan.

In terms of performance, bond funds also performed better. According to Galaxy Securities' "List of Public Fund Managers' Long-term Active Bond Investment Management Capabilities", Dongxing Fund has outstanding mid- and long-term performance. As of June 30, 2024, the performance of its bond funds in the past three and four years ranked 8th and 14th in the industry respectively.

It is worth mentioning that thanks to the rapid growth of management scale, the company's operating conditions have also improved significantly, and it successfully turned losses into profits in 2022.

According to Dongxing Securities' 2023 annual report, as of the end of last year, Dongxing Fund's consolidated financial statements had total assets of 310.6897 million yuan, of which total operating income was 158.8413 million yuan and net profit was 30.6919 million yuan, an increase of 24.46% and 158.88% respectively over the previous period.

Editor: Captain

Review: Muyu

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