Fund managers have been investigated and fermented outside the field, and those who leave in August and the departure were focused ...

From the evening of August 8 until today, the suspected public fund managers were continuously fermented by the police by the police for participating in off -site options transactions for illegal regulations. Or the fund manager who resigned.

In fact, the changes in the fund manager during the year occurred. Wind data shows that as of August 9, since this year, 179 fund managers from 96 fund companies and asset management institutions have changed; since August alone, 10 fund managers have left their office. Compared with this year, compared to this year In July and August, there was no peak.

From the perspective of the departure of the fund manager during the year, it also shows some significant characteristics. First, from the perspective of the fund company, the overall number of small and medium -sized public offering has more departure. Second, the fund manager has changed new changes, and the platform -type private equity institution has become the best choice.

Data source: Wind *Note: The change rate of the fund manager is based on the data that changes in the interval, and the statistics of other indicators are based on the fund manager of the interval deadline.

Therefore, some people in the industry believe that the changes and even resignation of fund managers have always been normalized. There are currently more than 3,100 fund managers in the public offering industry. The change of product fund managers is more common, and it has occurred from office and departure.

In addition, the industry people who were interviewed believed that the fund managers participated in off -site option transactions in this report, not groundless, and some fund managers participated in it and were investigated.

Nearly 180 fund managers have left office during the year, and 10 departure since August

On the whole, nearly 180 fund managers have left in the year, and 10 have changed since August, and some of them have determined to leave.

Data source: wind

On August 6, Han Yugawa, the fund manager of the Ethida Fund Hybrid Asset Investment Department, stepped down the Yifunddo product fund manager and resigned due to personal reasons.

The data shows that before the departure of Han Yuechuan, a total of 24 fund products were managed, including the configuration of Yifangda Yixin, the configuration of Yifangda Yiyi, and the absolute income of Yifangda Yikang. 21 public offering products. Data show that Han Yuechuan had previously managed 24 products with a total of 26.018 billion yuan.

According to public information, Han Yuechuan, a master's degree, was a researcher and assistant to the investment manager of the Investment Department of Huaxia Fund Management Co., Ltd. from July 2015 to May 2019. In May 2019, I joined the Yifangda Fund Management Co., Ltd., who was an investment manager and an assistant to the fund manager and fund manager.

On August 6, Hua'an Fund released the theme of Hua'an state -owned enterprise reform theme flexible configuration mixed, Huaan value driving one year's holding period mixed, Huaan quality leading mixed mix, Huaan quality selection mixed 4 product fund manager change announcements, the above 4 products previously previously previously used It is managed by Zhang Liang.

Star Fund Managers have left more since the beginning of the year

The entry and exit of industry talents has always been a common phenomenon, and there are many star fund managers who have left and resigned since the beginning of the year. Among them, Zhou Yingbo, the "top flow" fund manager, China and Europe, Dong Chengfei, who Xing Xingxing, and Zhao Li, who is the world, and Zhao Li, the Rural Banking Huili, and so on. In addition, there were Xiao Xiao of the fund runner -up Baoying Fund last year, Han Qing, the veteran Yang Fei of Cathay Fund, the veteran of the Cathay Fund, the veteran of the Galaxy Fund, and the Boshi Fund "Medical Brother" Jin Gechen. , Cui Ying, a famous general of Hua'an Fund, and so on.

In May of this year, Lin Sen, co -general of the full strategy investment department of Yifangda's fixed income, also chose to leave. Before leaving, he managed a number of fund products such as the E Fundaru Cheng Fortune Fund and the reunion of Yifangda. Later, Lin Sen officially joined the Shanghai Qinchen Private Equity Fund Management Partnership.

According to Wind data, as of August 9, 179 fund managers from 96 fund companies and asset management institutions have left. It can be seen that the fund manager's departure is mostly "personal reasons." Among them, 7 have left the fund manager of the Boshi Fund during the year, and they are the fund companies with the largest number of managers.

There are 5 people from the Fund Manager and above. The Anxin Fund, the Castrol Fund and the Agricultural Bank of China Huili Fund. This data declined slightly compared to the same period last year, but the whole is still high. Data show that the number of fund managers from the fund manager in the first half of last year reached 196, involving 106 fund companies and asset management institutions.

Throughout the development of the public offering industry, the number of fund managers often has a large number of years in the year of market conditions. Data from the Cinda Securities R & D Center shows that the retraction history has emerged in the historical stage of the leaving wave of fund managers. The peak of the personnel of the equity fund manager mainly appeared in the second quarter of 2015, the third quarter of 2021, the first quarter of 2022, and the third quarter of 2015. The number of managers of the departure funds was 85, 55, 45, and 45, respectively. Correspondingly, the full A quarterly returns were 22.46%, -104%, -32.92%, and -13.92%, respectively.

It is undeniable that the market environment has been more complicated than before, and the short -term performance of equity funds is even more "bleak", so industry personnel flow has also entered a high incidence period.

"Ben Private" is still an important option for fund managers

Further look at the fund managers from the end of the year, "Ben Private" is still one of the important options. First, from the perspective of the fund company, the overall number of small and medium -sized public offerings has more left in office; second, the fund manager's "Ben Private" has also changed some new changes. In fact, traditional large -scale fund companies have obvious channels and brand advantages compared to small fund companies, and large fund companies retain talents in the assessment system, incentive system and relatively good benefits. In contrast, in the small and medium -sized fund companies, except for a few fund companies relying on incentive mechanisms and differentiated competition, it has achieved stable development. Most small and medium -sized funds companies still have no solution to talent loss.

Earlier, Zeng Linghua, a research director of Hao Buying Fund, believes that after years of development, the brand effect of the fund manager has become increasingly effective in buying funds. The breakout of small and medium -sized funds still depends on performance. The corresponding small and medium -sized fund managers' tolerance period for performance is shorter. Therefore, the flow of talents in these companies is more frequent.

In addition, compared with the previous rounds of "Ben Private", the fund manager "Ben Private" has also changed during the year. In the past, more fund managers established their own portals and founded their own companies, brands and teams. After leaving office, the manager of the Star Public Fund often chooses to join mature private equity.

For example, in January of this year, Cui Ying, the manager of the Hua'an Fund's original star fund, resigned, and then co -founded the Shanghai Qinchen Private Fund Management Partnership with many colleagues in the fund industry. Subsequently, Dong Chengfei, who had been working in the global fund for nearly 10 years, was officially "enlightened" and joined the assets of Rui County, the old colleagues Du Changyong and Wang Xiaoming.

In February, Boshi Fund Ge Chen, known as the "Medicine Catcher", announced his departure and joined the platform type 100 billion private equity Gao Yi assets.

In May, Lin Sen, a former "solid income+" fund manager, announced that he left the market due to personal reasons, which caused market attention, and then he joined Shanghai Qinchen.

"In the past, many fund managers would choose to work alone, that is, they founded private equity funds, both as bosses and investment managers. This model was very efficient in the early stage of the development of the private equity industry, but with the growth of the company's scale, insufficient investment and research resources and risk control systems Masters such as absence and decentralized investment in management work will occur. Nowadays, more and more fund managers are aware of this problem, so they directly join the platform -type private equity institutions as their best choice. "Some people in the industry said.

The current 3102 fund managers have doubled in 4 years

In fact, as the concept of "buying a fund is a fund manager" is deeply rooted in the hearts of the people. After the Star Fund manager leaves, the negative effects brought by "stars" have also been highlighted.

On the one hand, the number of fund managers has developed greatly with the rapid rise in public offerings in recent years. From the perspective of public funds, it reached 13 trillion yuan at the end of 2018, 15 trillion yuan at the end of 2019, and 20 trillion yuan at the end of 2020. Since the end of 2021, it has been stable above 25 trillion yuan. Note. In this context, the number of fund managers is 1443 in 2018, and currently 3102 people have doubled in 4 years. What follows is that the liquidity of fund managers also increases at the same time.

On the other hand, although the fund manager changes are still frequent, from the direction of change, the number of employment is far more than the number of departure. Wind data shows that since this year, as of August 9, the number of newly hired funds in the industry reached 388. In other words, while one fund manager leaves office, there are more than two newly -hired fund managers who have duty.

For example, since this year, there have been 3 new fund managers of the Nordan Fund and Changsheng Fund Zero investment experience; 2 new funds managers of Caitong Asset Management Zero investment experience; and the smaller Huiquan Fund, the small scale, Bein Xin Ruifeng has 1 new fund manager's securities investment experience. Newcomers in the industry have emerged endlessly, indicating that the industry has continued to attract talents in the background of the fund industry.

In addition, from the perspective of personal and platform relations, excellent fund managers and excellent company platforms have always achieved mutual achievements. The departure of individual fund managers will not actually have a substantial impact on the company's operations, and the improvement and development impact on the team value investment system is more limited.

So, after the fund manager's departure, is it for investors who have managed products before?

The Tiantian Fund emphasized that for the foundation, if the stock manager's departure of the fund manager's departure can be observed if the stock -type funds and hybrid funds are held to decide whether to continue to hold the fund: First, the reason why the fund manager leaves office is left. Essence If it is the company's internal adjustment, the impact is not great; if you recognize the original fund manager, you may wish to continue to pay attention to his follow -up trends. Second, observing the past performance and investment strategy of the new fund manager can give the new fund manager's "inspection period" for four or five months.

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