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Recently, public offering FOF (fund of funds) has become the focus of the industry due to product liquidation and the resignation of top fund managers. The reporter found that as of August 13, 11 FOFs have announced liquidation this year, and many FOFs have triggered liquidation warnings since August. In addition, there have been cases of FOF fund managers resigning in a "liquidation-style" manner, including top FOF fund managers whose management scale once reached 10 billion yuan.

FOF has always been known as a professional fund buyer. Looking back at the process of public FOF falling from grace, industry insiders concluded that, on the one hand, the long-term volatility of the equity market is the main factor in the shrinking scale of FOF; on the other hand, some early FOF products did not carry out corresponding asset allocation according to the investment benchmark in actual operation, and the industry reputation was affected to a certain extent. In addition, the so-called asset allocation of many FOF fund managers is just a rotation strategy, lacking macro-analysis and overall planning, resulting in FOF not showing obvious advantages compared with other types of funds. (China Securities Journal)