95 People Left 71 Fund Companies This Year, Which Institutions Are Losing "Star Managers"?

With the rapid development of public funds, the competition for talents has become the main reason for fund managers to speed up the flow.

According to the statistics of 21st century economic report, as of May 20, the number of new fund managers in the whole public offering industry has reached 228, the highest level in the same period in history.

The vast majority of these newly appointed fund managers come from within the company.

At the same time, 95 fund managers left their posts, involving 71 fund companies.

Among the fund managers who have left, there are many well-known veterans in the market. For example, Rao Gang, the former deputy general manager of Dongfanghong asset management, who has 14 years of fund manager experience, may be Ruiyuan fund's next stop.

"The flow of talents in the industry is accelerating." A public fund source in South China said.

With the outbreak of the fund industry, the change of mutual fund managers is more frequent. "Large fund companies maintain their advantages and small and medium-sized fund companies need excellent management and investment research talents."

95 fund managers leave

According to the statistics of journalists from the 21st century economic report, as of May 20, 95 fund managers have left their posts this year, involving 71 fund companies. Among them, Beixin Ruifeng fund, Qianhai open source fund, Boshi fund, Xinhua fund and UBS fund of SDIC all left their posts, which is the fund company with the largest number of fund managers.

In addition, two people left the company, including Kaishi fund, Guangfa fund, Huabao fund, TEDA Manulife fund, Agricultural Bank of China Huili fund, Galaxy fund, Yinhua Fund, Hongde fund, Harvest Fund, China Merchants Fund, Baoying fund, BOC International Securities, Huatai berui fund, and Changxin fund all resigned.

Since this year, many "star fund managers" and "treasure fund managers" have changed jobs.

For example, Peng Gan, the manager of Soochow Fund, announced his resignation in March this year. Wind shows that Peng dares to join Soochow Fund in 2017 to manage Soochow double triangle stock a, Soochow double triangle stock C and Soochow Jiahe advantage selection hybrid products. The best return rate during his tenure is 112.62%.

Before that, Peng had worked in the Comprehensive Research Institute of Dapeng Securities Co., Ltd., the investment management department of Yinhua Fund Management Co., Ltd., the R & D center of Wanlian Securities Co., Ltd., and Fortune Securities Co., Ltd. in investment research. He has been working in the investment department of Baoying Fund Management Co., Ltd. since September 2010, and has been a fund manager since November of the same year.

Hao Miao, manager of Baoying fund; On March 12, Hao Miao resigned for personal reasons. According to the data, Hao Miao showed excellent investment management ability during the management of the fund. Since January 17, 2019, the total return rate of his post has reached 182.99%.

Industry insiders said that the gold absorption effect brought by excellent fund managers has been confirmed by the market. With the continuous development of the market in the new year, star fund managers are still the core resources that various institutions compete for.

However, there are also fund managers who left passively due to unsatisfactory performance.

On April 24, Qianhai Kaiyuan announced that Ding Yao, the manager of Qianhai open source blue chip equity fund, resigned on April 22, 2021.

According to public information, Ding Yao has been a manager of Qianhai open source fund for less than one year. While Ding Yao's product income is not ideal during his tenure, the product return rate of Qianhai open source blue chip is 5.80%.

228 new fund managers take office

Public funds continue to break the issuance record, and the team of fund managers is also rapidly expanding.

As of May 20, 228 new fund managers have been recruited in the industry since May 20, according to wind.

As far as fund managers are concerned, GF has the largest number of new fund managers, with a total of 9. Among these newly recruited fund managers, except for having just had 12 years of fund manager experience, the remaining eight are fund managers for the first time. For example, Xia Haoyang, who only served as a fund manager on May 20, joined GF Fund Management Co., Ltd. in August 2017 and served as a quantitative researcher in the index investment department. Since May 2021, he has been the fund manager of six open-end index securities investment funds, sponsored feeder funds.

Harvest Fund has recruited seven new fund managers. Except one fund manager who has previously managed products in China Post Fund, the remaining six are novice fund managers.

Six new faces have been added to the fund manager team of Huaxia Fund this year. Among them, Liu Wei joined Huaxia Fund in January 2013 and was a researcher in the fixed income department. Since January 27 this year, she has been the fund manager of nine fixed income products.

During the same period, the number of new fund managers such as Huabao, Boshi, Nanfang and Penghua also reached 6, with a total of 24 new fund managers. Only 5 of the 24 new fund managers have been employed for more than one year, and the rest are novices.

Industry insiders also said that with the rapid development of the industry, talent competition intensifies. In addition to introducing excellent talents from outside, the internal training is still the mainstream way, so there will be more new people.

Fund managers accelerate liquidity

At present, the Matthew effect of the fund industry continues to strengthen, showing more and more "head" characteristics. A large number of small and medium-sized fund companies are facing greater survival pressure, and brain drain is the epitome of this trend.

Among the fund companies involved in fund manager turnover, most of them are small and medium-sized fund companies, such as Beixin Ruifeng fund, which has the largest number of fund managers leaving.

According to public information, Beixin Ruifeng fund was established in March 2014 and has experienced nearly seven years of development. At present, the asset management scale of this fund is RMB 6.940 billion, ranking 115th, which has nearly halved compared with the "highlight time" of RMB 13.395 billion in 2020.

Since this year, three fund managers have left Beixin Ruifeng fund. The three former fund managers, Yu Junhua, Nian Daji and Zhang Weibao, have more than 2 years of fund manager experience.

On the other hand, in order to retain excellent investment talents and strengthen the backbone of investment research team, some excellent fund managers were promoted to the management of the company.

On March 30 this year, Jingshun Great Wall Fund announced a change of senior management personnel. Liu Yanchun, the company's top 100 billion fund manager, took the new post of deputy general manager of Jingshun Great Wall Fund from March 29.

In recent years, Liu Yanchun has become a star fund manager loved by investors with excellent management performance. According to wind, Liu Yanchun currently manages six mutual fund products under Jingshun Great Wall, with a management scale of 101.5 billion yuan.

In June last year, Zhang Kun, the "first brother in the public offering industry", was promoted to deputy general manager of e fund, becoming the first fund manager to be promoted to senior management among the young investment stars of e fund.

"At a time of frequent flow of talents such as executives and fund managers, it is one of the means to retain outstanding talents to promote outstanding fund managers to management." The above-mentioned public funds in South China believe that with the continuous maturity of the capital market, excellent fund managers in the future tend to choose platforms with strong technical systems, investment research support and good corporate culture, and the platform advantages will gradually appear.