More than 110 fund products have changed fund managers since 2022

Public fund products accelerate the "change of coaches" in the new year

  On January 15, Southern Asset Management announced that Xia Chenxi had left the China Southern China Bond 0-2 Year CDB Bond Index Securities Investment Fund (009615) (hereinafter referred to as: Southern China Bond 0-2 Year CDB Bond A), which he had been in charge of for many years. .

In early January this year, due to internal adjustments, the former fund manager Wu Jianyi stepped down as a new blue chip with potential in the South.

  At the beginning of the new year in 2022, the flow of personnel in the fund industry has accelerated, and more than 110 funds have changed their fund managers, an increase of nearly 50% compared with the same period last year.

Thirteen fund managers left, double the year-on-year increase.

Many market participants believe that China's fund market is developing rapidly, but performance pressure and personnel competition are becoming increasingly fierce, and fund managers will change more and more frequently.

However, judging from the past performance, the performance of Southern Fund Xia Chenxi before leaving the above-mentioned funds was average, but Wu Jianyi's performance was mostly "excellent".

  Text, watch / All media reporter Zhang Zhongan of Guangzhou Daily

  Southern Fund Xia Chenxi "left" two funds

  According to the announcement of China Southern Fund, Xia Chenxi's departure date is "2022-1-14", and the change type is "dismissal of fund manager".

Previously, the fund was jointly managed by Xia Chenxi and Zhu Jia.

Therefore, after Xia Chenxi left office, Zhu Jia was in charge of South China Development Bank Bond A for 0-2 years alone.

On the same day, China Southern China Bond 1-5 Year CDB Bond Index Fund (008256) also changed its fund manager due to Xia Chenxi's "dismissal".

After Xia Chenxi left office, Zhu Jia and Dong Hao jointly managed the fund.

  Fund changes Fund managers are generally divided into three categories, one is the old with the new.

The second is to directly change the fund manager; the third is to leave the fund manager without adding a new fund manager, and the co-managed fund manager "takes over".

According to the announcement, Xia Chenxi’s changes belong to the third category.

  In response to the reason for leaving office, Southern Asset Management only disclosed in the announcement that it was "the company's work adjustment".

However, given that Xia Chenxi continues to serve as the fund manager of Southern Cash Pass, Southern Tiantianli, Southern 1-3 Years CDB Bonds, Southern 0-5 Years Jiangsu Urban Investment Bonds, and Southern China Securities Interbank Depository AAA Index for 7 days, the outside world speculates that He has not left Southern Fund.

  However, Xia Chenxi's performance on the 0-2 year CDB Bond A in the south was mediocre.

According to data from Oriental, the fund was established in July 2020 with an asset scale of 4.222 billion yuan and is a passive indexed investment fund.

The data shows that the increase has been 0.07% in the past week, 0.37% in the past 1 month, 0.93% in the past 3 months, and 0.11% since the beginning of this year.

  However, compared to Xia Chenxi, Wu Jianyi, who left his post on January 6 this year as a potential new blue chip in the South, is relatively good. Before leaving office, the fund performance basically outperformed the average of its peers and the CSI 300 Index.

  How to "Change the Coach" Fund Investors

  According to data, the number of fund managers whose positions have changed in 2021 exceeded 1,000, a year-on-year increase of 36.14%, a record high.

Since 2022, the number of old fund products whose fund managers have changed has exceeded 110, and the number of resigned fund managers has also exceeded 10.

  How to operate a fund with a changed fund manager, a private equity person in Shenzhen said that from the perspective of historical market conditions, during periods of high market volatility, fund managers tend to change more frequently. The reasons cannot be generalized. There are also factors of performance ranking and redemption pressure.

However, for fund products, after changing the fund manager, the proportion of performance improvement, decline or stability is the same.

However, the private equity source revealed that the top-performing fund products have a high probability of declining or fluctuating performance after changing fund managers.

On the contrary, if the performance of the product is lower, after changing the fund, the performance is more likely to be better.

  But he believes that investors should not panic because of changes in fund managers.

"If the fund in the investor's hands encounters the change of the fund manager, we should look at it in detail. For example, when a new fund manager joins, he can continue to hold the position. If the previous performance was low, you may wish to wait patiently after changing the fund manager. Overall For established fund companies, under normal circumstances, the sustainability of performance will be relatively strong."