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China News Service, August 13 (Zhou Yihang) On the 12th, Manulife Fund Management Co., Ltd. (hereinafter referred to as Manulife Fund) issued an announcement stating that the former general manager Gao Guixin resigned due to work arrangements, and the position of general manager was taken over by Ding Wencong.

In this regard, Manulife Fund said:This appointment reflects Manulife Group's emphasis on and continued investment in the Chinese market, and its strategic adjustments to the executive team to adapt to market changes and company development needs.

　　Billion-dollar public offering changes general manager

Manulife Fund was established in June 2002 and was originally named TEDA Manulife Fund. In November 2022, the China Securities Regulatory Commission approved Tianjin TEDA International Holding (Group) Co., Ltd. to transfer its 51% stake in TEDA Manulife Fund. After the transfer, Manulife Investment Management (Singapore) Pte. Ltd. and Manulife Investment Management (Hong Kong) Co., Ltd., subsidiaries of Manulife Financial Corporation (hereinafter referred to as Manulife Financial), hold 51% and 49% of the shares respectively, and Manulife Financial is the actual controller of the company.

After the equity change was completed, TEDA Manulife Fund became the first domestic public fund company to be converted from a joint venture to a foreign-funded one, and was officially renamed Manulife Fund in April 2023. In terms of executive appointments, on December 23, 2022, TEDA Manulife Fund issued an announcement announcing that Jin Xu would serve as the chairman of TEDA Manulife Fund, and Gao Guixin would serve as the general manager, chief information officer and financial director.

In 2024, there will be another change in the senior management of Manulife Fund. On August 12, the company announced that Ding Wencong would take over as the company's general manager. Judging from his resume, Ding Wencong joined Manulife Financial in 2010 and served as the director of the group's strategic planning department, assistant vice president of business development for Greater China, and managing director of strategy and business development for Manulife Asia Pension Business. Since 2023, he has served as the chief financial officer, general manager, and legal representative of Manulife Investment (Shanghai) Co., Ltd. In August 2024, he joined Manulife Fund as the company's general manager (legal representative) and chief financial officer.

While Ding Wencong will serve as general manager, Gao Guixin will continue to serve as the company's chief information officer. Gao Guixin joined Manulife Fund in December 2022. He previously worked for China Asset Management, Dacheng Fund, Guotai Fund, Founder Securities and other institutions.

Manulife Funds said:Ding Wencong has a global background and profound experience in pension finance. He is also familiar with Manulife Group and has established a good cooperative relationship with the local team. In the future, the company will continue to lay out around themes such as "global asset allocation" and "pension finance". This appointment reflects Manulife Group's emphasis on and continued investment in the Chinese market, and its strategic adjustment of the executive team to adapt to market changes and company development needs.Since its transformation into a wholly foreign-owned mutual fund company in November 2022, Manulife Fund has integrated global vision with local practices and achieved good results.

　　The difference between the top and bottom performance is more than 30%

Information on Manulife Fund’s official website shows that the company has multiple business qualifications including public fund management, special account management, QDII, FOF, and has the ability to comprehensively manage diversified assets.

Wind data shows that as of August 13, 2024, Manulife Fund's total asset management scale is 83.994 billion yuan, ranking 66th in the market, an increase of 19.479 billion yuan and 15.946 billion yuan respectively compared with the end of 2022 and 2023. Among them, the management scale of money market funds is 21.423 billion yuan, and the management scale of non-monetary funds is 62.571 billion yuan.

From the product structure, Wind data shows that Manulife Fund has 63 funds under management, including 3 money market funds, 7 stock funds, 29 hybrid funds and 18 bond funds. In general, the scale of bond funds accounts for a relatively high proportion. As of now, the company's bond fund management scale is about 41.743 billion yuan, accounting for 49.7% of the total scale; the management scale of its stock and hybrid funds is 7.281 billion yuan and 11.705 billion yuan respectively.

In terms of performance, as of August 13, among the 63 managed funds under Manulife Fund, a total of 35 funds have achieved positive returns this year, and 8 funds have a yield rate of over 10%. Among them, Manulife Climate Leader Two-Year Holding ranked first with a yield rate of 15.8%, followed by Manulife Climate Smart Selection 18-Month Holding A and Manulife Growth, with yield rates of 14.87% and 14.6% respectively so far this year. The performance rankings of the above three funds are all at the upper level.

Manulife's two-year holding of the 2021-established Cyclical Pilot is one of the "dark horse" products in the public fund market in 2024. According to the fund's quarterly report, as a full-market fund, the fund adheres to the method of "investing in leaders in cyclical industries and pursuing Davis' double-click", and selects companies with large long-term space and good short-term performance to avoid companies with obvious short-term theme catalysis overdrafts.

In addition, among all the products managed by Manulife Fund, a total of 27 funds have negative returns this year. Among them, Manulife New Energy A and Manulife Reform Power A have performed poorly, with returns of -16.24% and -16.25% respectively so far this year. In terms of returns, the performance of the first and last funds managed by the company differed by 32.05%.

(For more reporting clues, please contact the author Zhou Yihang: [email protected]) (China News Service APP)

　　(The views in this article are for reference only and do not constitute investment advice. Investment is risky and you should be cautious when entering the market.)

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Editor: Wei Wei and Li Zhongyuan