Meanwhile, news that the incumbent League General Manager Xu Xiaosong final departure. The financial and economic state weekly journalist according to company announcements and statistics, this year, has 23 industry executive changes, among 19 firms.
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· fengji Forum investment real disc week summary · Index Fund concentrated discussion posted this year Pocket Fund frequency out unit base first half of performance first and last difference 30% shares break into bargains Fund discount buy first half of only has 5 only unit base make money (list) 2011 second half: use lever Fund Hing full hold mission killed into BYD shares deciphered fuck disc password master main trends de Saint Fund Research Center Jiang Saichun think, once executives and Fund Manager of frequently changes formation a negative industry effect, will is on fund investors maximum of hurt. Public information displays, the end of 2007, 59 in China Fund company's total share of the Fund up to 2.23 trillion, total size of nearly $ 3 trillion of assets under management.
End of 2010, the China Fund company increased to 63, the 2.29 trillion of the total share of the Fund management, assets under management total size dropped to $ 2.44 trillion.
Analysts noted that the fund industry turnover surges again to upgrade, perhaps reflects human as core capital to dull pain public placement fund industry. Fund for small and medium pressure on June 16, China Merchants Fund release announcement, from the preparatory stage has joined the company of the departure of General Manager Cheng Baoliang on June 14. Alleged that it will become a major preparation for Shanghai power Investment Co Ltd, the company is international group in accordance with the policies established in Shanghai, Shanghai industrial investment fund.
At this point, stick to public placement fund industry veteran stage character is running out.
As a Fund in the first Sino-foreign joint venture company in China, China Merchants Fund was established in late 2002 has been 8 years, with social insurance, annuity, spot management accounts, management of the QDII qualified, was earlier licensing company in the industry, under which there are currently 17 open Fund. "Cheng Baoliang was a fusion of Chinese and Western cultural fund, and this is also the Investment Fund since its inception in 2003 despite the friction between Chinese and foreign shareholders, but always resolve the reason. "Shenzhen one fund analysts noted," this also means, sandwiched between Chinese and foreign shareholders of Cheng Baoliang as you want to have big, difficult. "The Department funds in a bank in the company, offering assets of investment funds ranking even worse than weak, postal funds in incompetence of a licence. Investment assets of the Fund as at the first quarter of 2011 but 39.04 billion yuan, only rows in the middle levels of the industry.
Compared with other joint-venture firms, top international, yinruixin, and the Bank Schroders Fund established after the company, whether it is in size on brand awareness, already far exceed investment fund. Galaxy securities funds Research Center researcher Wang Qunhang believes that "this round of Executive General Manager of the particular adjustments occur in small and medium-sized fund companies, these companies are mostly moderate performance in past years, slow growth of the scale, and its shareholders for the performance of the company's expectations are relatively short and relatively high. When shareholders lose confidence when you want to replace the executives to find growth. "On March 4, released on Vanguard fund notice of change of senior managers, Board Chairman and General Manager of both substitution.
Bulletin shows that Vanguard fund original Sun Guomao, Chairman and General Manager Li Zhenwei due to the departure of expiry on March 4, filled by Qi Lu securities financial principal Bi Yuguo, Chairman, former Deputy General Manager Yang Feng as General Manager.
The national weekly financial journalists to check their Vanguard fund performance found that 2010 in addition to bond funds achieved good returns, Fund of equity funds and mixed funds all losses. In addition, country General Manager Jin Zhefei ladies retiring sea Franklin announced on May 4 announcement. Data show that sent Jin Zhefei was affected by the foreign shareholder, airborne sea Franklin Fund in 2008. "Although the Jin Zhefei sea Franklin for the country to build a set of near-perfect wind control system, but she's three years in Office, expansion of the company is not significant.
"According to Wind data, Jin Zhefei in three years, release 5 new products, total share of the Fund has risen by 720 million and assets of the company lost $ 9.6 billion. "In recent years while the new fund offering, but no obvious change the total. Under this situation in the industry, small and medium firms not much advantage in brand strength, reflected at the level of company management, executives of pressure is relatively large.
"Good buying Fund Research Center pointed out China, with the lower profitability of the Fund, Fund for small and medium-sized company size and performance cannot be effectively promoted is one of the reasons for forced departure of Fund executives. 2011 Fund Quarterly Bulletin shows that top fund management scale of up to 1. $ 16 trillion, accounting for public placement fund industry share amounted to 48%, industry resources to large fund companies focus, Fund for small and medium-sized companies survive further compressed.
In the fierce competition, some companies have been made at the level of strategic adjustment thinking.
Effects of changes in equity other than poor performance, scale and sluggish foreign shareholders fund company central figure changes caused by power struggle is also one of the important reasons. For Shen Wanling fund company, whose turnover is expected back in the outside world May 4 Mao Jianming, General Manager. 2010 BNP Paribas Asset Management limited foreign shareholder equity transfer agreement with Mitsubishi UFJ Trust and Banking Corporation, held by 33% per cent of all transfers.
Subsequently, Shen Wan Paris was renamed Shen Wanling Fund.
BNP Paribas Asset Management due to Mao Jianming comes from the original shareholders, therefore, the industry believes that this handsome lift is a matter of changing things. "Shareholders break up is the causeDirect causes of Shen Wan for handsome. "There are for people familiar with reporters, both as shareholder in a large number of differences on the issue, since the former General Manager of the representatives of France, Tang Ximing in 2007 after the resignation, square basically has given up by a scramble for right to manage, and then took over as Mao Jianming," main job was to walk the signing process.
"According to Wind data, under Mao Jianming, Shen Wanling released 6 new products only, but the company's total shares down 2.69 billion, assets shrink by $ 3.89 billion. "Joint venture fund management companies are facing such problems, many companies have foreign shareholders seems very powerful, but the presence of general managers a lot of qualifications, particularly in the face of emerging at a time when the a-share market, they called the management investment experience can effectively be a question mark.
"Anbang consulting researcher said.
Equity change is sometimes inevitable, how to cope with the resulting brain drain in the core issues, the fund company was a major test. "Man shortage" joint behind huatai securities research report shows, from 2003-2011, cumulative change 752 public placement fund industry executives, Fund Manager cumulative change of 1269. And this total is over more than 2000 people behind the change, is a large number of public-fund trained personnel, are fast flow to private equity and other securities investment institutions.
At present, the public-fund investment Director for 60% and 80%, General Manager of the average tenure of less than 4 years. "Development of the entire fund industry over a dozen years, experienced industry bottlenecks, size of company development space is limited, difficult to achieve a breakthrough on the operation. "Zhong Lu and fund analysts, Research Center," Meanwhile, fund companies present on the system design constraints, equity incentive cannot be achieved, this private or other, and the industry formed a larger gap, General Manager of the Fund have the right opportunity to interest more dahua industry or company, private equity, PE and VC funds mainly to company executives.
"Observation and public placement fund industry rankings of top companies, if there's any similarities, then, that is, there is a practice leader more than 10 years of soul and a stable core team. "Facts have proven that the blind pursuit of mutual constraints, performance scale, shareholder management revolving scenic Lantern-like replacement of the company was doomed not to be an excellent company. "A fund analysts pointed out that the" Star Fund Manager is offering a sharp object, but the good of the fortress is treasure. Development of the industry for more than 10 years, talent dilemma has become a matter of urgency, public placement fund industry have to collective reflection. "
