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cailianshe news, september 10 (reporter li di)in individual public offerings, it is common for the general manager to also serve as the fund manager. these general managers are often also senior investment bosses who have the ability and willingness to manage funds.

is it reliable for the general manager to personally manage the fund? how is the performance? this year, two products managed by general managers have suffered losses of more than 40% this year, falling to "40 cents". however, there are also some products managed by general managers that rank high in performance.

two products managed by general managers have become "4-cent bases", with losses exceeding 40% this year

since the beginning of this year, two products managed by the general managers have suffered losses of more than 40%, falling to "4 cents base".

one of them is oriental alpha zhaoyang mixed fund, managed by liu ming, general manager of oriental alpha fund.

data from tiantian fund network shows that as of september 9, the unit net value of the fund's class a shares was 0.3941, with a return of -40.13% so far this year, ranking 4098th among 4109 similar funds; the return in the past three years was -60.05%, ranking 2073rd among 2202 similar funds.

another fund managed by liu ming, oriental alpha select hybrid, also performed poorly. the unit net value of the class a shares of this fund is 0.6447, and the return so far this year is -37.86%, ranking 2250th among 2264 similar funds; the return in the past three years is -56.59%, ranking 1807th among 1948 similar funds.

in addition, tianzhi quantitative core selected mixed fund, managed by xu jiahan, general manager of tianzhi fund, is also a "4-cent fund". the fund has also lost more than 40% this year.

data from tiantian fund network shows that as of september 9, the unit net value of the fund's class a shares was 0.4069, with a return of -40.93% so far this year, ranking 4104th among 4109 similar funds.

however, it is worth noting that for most of this year, tianzhi quantitative core selected mixed was a fund co-managed by xu jiahan and other fund managers, so the poor performance of the fund was not solely his responsibility. according to tiantian fund network data, from august 1, 2023, xu jiahan began to serve as the fund manager of this fund and co-managed the fund with li wenjie. on may 29 this year, li wenjie stepped down and the fund was managed by xu jiahan alone. however, on august 2 this year, the fund added fund manager li shen, and the fund once again became a fund co-managed by two fund managers.

in addition to tianzhi quantitative core selected hybrid, xu jiahan also manages tianzhi research driven hybrid, tianzhi stable double profit bond, and tianzhi low carbon economy hybrid. the losses of these three funds so far this year are relatively small, but their performance this year ranks in the bottom half among similar funds.

among them, judging from the fund allocation since the beginning of this year, tianzhi research driven mixed is a fund co-managed by xu jiahan and other fund managers, while tianzhi stable double profit bond and tianzhi low-carbon economy mixed are his solely managed funds.

in addition to the two fund company general managers mentioned above, there are several other fund company general managers whose products have poor performance.

the class a shares of the nine funds managed by pengyang fund's yang aibin have all ranked in the bottom half of similar funds this year. among the nine funds, only the class a shares of pengyang juli six-month holding period bonds achieved positive returns.

in addition, the returns of many funds under the management of cheng tao, general manager of xiangcai fund, xu lirong, general manager of guohai franklin fund, liang yuejun, general manager of suzaku fund, and liang yongqiang, general manager of huiquan fund, have ranked in the bottom half among similar funds so far this year.

the performance of products managed by the general managers of ruiyuan fund and hexu zhiyuan fund ranked high

there are also some products in the market that are personally managed by general managers and have performed well.

take rao gang, general manager of ruiyuan fund, for example. as of september 9, the return of ruiyuan steady progress allocation two-year holding mixed a, which he manages, was 5.60% so far this year, ranking 17th among 1,320 similar funds. in the long run, the fund's return in the past two years was 0.98%, ranking 217th among 1,148 similar funds, which is also ranked high.

this fund is currently the only fund managed by rao gang himself. since december 2021, rao gang has served as the fund manager of this fund, and this fund is his sole fund. in january 2023, the fund hired hou zhenxin, and since then, this fund has become a fund jointly managed by rao gang and other fund managers.

li ji, general manager of hexu zhiyuan fund, also ranked high in performance this year. the only fund he manages, hexu zhiyuan jiaxuan mixed a, has a return of -0.24% so far this year. although it is slightly in the red, its performance ranks 317th among 4,109 similar funds.

in addition, dongfanghong qiheng three-year holding mixed fund managed by zhang feng, general manager of dongfanghong asset management, also ranked high. as of september 9, the fund's return this year reached 8.48%, ranking 52nd among 4,109 similar funds. however, dongfanghong industrial upgrading mixed fund and dongfanghong ruixi three-year holding mixed fund managed by zhang feng have both lost more than 10% this year.

several general managers of public funds also serve as fund managers

according to incomplete statistics from the reporter, there are at least 7 general managers of individual public funds in the market who are also involved in fund product management. they are zhong mingyuan of boyuan fund, yang aibin of pengyang fund, rao gang of ruiyuan fund, li ji of hexu zhiyuan fund, liu ming of oriental alpha fund, liang yongqiang of huiquan fund and liang yuejun of suzaku fund.

industry insiders pointed out that there are three main reasons why the general managers of several individual public funds also serve as fund managers.

first, individual public funds are mostly founded by senior investment tycoons with rich product management experience. in the company, these tycoons often play the dual roles of general manager and core members of the investment research team.

industry insiders pointed out that the general managers of individual public funds usually have rich investment experience and the ability and willingness to manage products. managing products also helps the general manager keep up with the market and better manage the investment research of the entire company. another person from a medium-sized public fund told reporters, "some general managers of individual public funds have only taken office in the past two years. these general managers were fund managers before. after taking office, they will resign from some products to reduce their burden but retain their masterpieces."

second, the number of fund managers of individual public funds is limited. in the public fund industry, excellent fund managers are scarce resources. and the ability of individual public funds to attract and retain fund managers is often not as good as that of large fund companies. the general manager serving as a fund manager can alleviate the problem of talent shortage to a certain extent.

third, it is very difficult for individual public funds to build investment and research platforms. the above-mentioned public fund person told reporters that "individual public funds are usually small and medium-sized fund companies. compared with bank-based and securities-based funds with strong shareholder backgrounds, the strength of their investment and research platforms is often relatively weak. therefore, such companies often need fund managers with strong personal aura to launch products, otherwise it will be very difficult to raise funds. the general manager of an individual public fund is often an investment tycoon, and he will also attract funds by launching products in person."