The executives of fund companies have changed frequently, and another fund company has ushered in a new chairman.

Recently, Shanghai Yin Fund issued an announcement on the change of chairman, Wu Jun succeeded Wang Ming as the chairman of Shanghai Yin Fund.

Data show that as of September 13, a total of 267 executives of public fund companies have changed this year, involving 161 companies.

Change of Chairman of Shanghai Bank Fund

　　On September 10, Shanghai Yin Fund issued an announcement on the change of senior management personnel, stating that Wu Jun was newly appointed as the company's chairman, and the appointment date is September 10, 2022.

The former chairman Wang Ming will resign on September 10, 2022 due to work arrangements.

　　According to his resume, Wu Jun has served as Deputy General Manager of the Financial Market Department of the Bank of Shanghai Head Office, Deputy General Manager of the Investment Banking Department, Deputy General Manager of the Financial Market Department and General Manager of the Interbank Department, Deputy General Manager of the Financial Market Department and General Manager of the Interbank Department and Shanghai Free Trade Experiment. Member of the Party Committee of the branch, deputy general manager of the financial market department and general manager of the interbank department and member of the party committee and vice president of the Shanghai Pilot Free Trade Zone branch, deputy general manager of the financial market department (in charge of the work) and general manager of the interbank department, general manager of the financial market department Manager and General Manager of Asset Management Department.

Wu Jun is currently the General Manager of the Financial Market Department of Bank of Shanghai, and will be the Chairman of Bank of Shanghai Fund from September 10, 2022.

　　In recent years, the executives of Shanghai Bank Fund have changed frequently.

In April 2019, a news that Li Yongfei, the then general manager of Shanghai Yin Fund, led a number of high-level executives to set up a new fund company with the China Securities Regulatory Commission, aroused widespread heated discussions in the industry.

On March 30, 2019, Wang Ming, who was then the Vice President of Bank of Shanghai and Secretary of the Party Committee of Bank of Shanghai Puxi Branch, just took over the position of Chairman of Shanghai Bank Fund.

　　In July 2019, Shanghai Yin Fund issued an announcement on the change of senior management personnel, announcing that Li Yongfei resigned as general manager due to personal reasons, Liu Xiaopeng was appointed as the general manager of the company, and Yi Hongwei was appointed as the deputy general manager.

It is not difficult to find out that the above two executives of Shanghai Bank Fund are both from Shanghai Bank, the major shareholder, and have no experience in public funds.

Shares have been listed for transfer

　　It is worth noting that on September 8, 2022, the Shanghai United Assets and Equity Exchange posted information on the transfer of 10% equity of Shanghai Yin Fund. The transferor is the second largest shareholder of Shanghai Yin Fund, China National Machinery Industry Corporation.

　　According to the announcement of the Shanghai United Assets and Equity Exchange, the above-mentioned shares were also listed for transfer on December 1, 2021, and the listed transfer price was 166.3 million yuan.

On June 11, 2022, the equity transfer was suspended due to matters affecting the property rights transaction in the project.

The latest listing price recently was 157.99 million yuan, a price reduction of 8.31 million yuan compared to the previous one, a price reduction of nearly 5%.

　　According to the asset evaluation report, with December 31, 2020 as the evaluation base date, the total assets of Shanghai Bank Fund reached 1.028 billion yuan, the total liabilities were 185 million yuan, the net assets were 843 million yuan, and the evaluation value reached 1.713 billion yuan. The appraised value reached 171.3 million yuan.

The listed transfer price of the 10% equity is 157.99 million yuan, which is a discount compared to the appraised value.

The transfer description also specifically mentioned that Bank of Shanghai, the largest shareholder of Bank of Shanghai Fund, will not give up the right of first transfer.

　　Tonglian data shows that Shanghai Bank Fund was established in 2013 with a registered capital of 300 million yuan, and Bank of Shanghai is its largest shareholder.

In the first half of 2022, the total assets of the Shanghai Bank Fund were 1.981 billion yuan, the net assets were 1.249 billion yuan, and the net profit in the first half of the year was 74 million yuan.

As of the end of June 2022, Shanghai Yin Fund had a total of 70 fund products, with a scale of 115.101 billion yuan under management.

Fund company executives change frequently

　　On September 10, Hexu Zhiyuan Fund Management Co., Ltd. issued an announcement on the change of senior management personnel, stating that the company newly appointed Wu Yida as the company’s chief inspector, and the appointment date is September 8, 2022.

From September 8, 2022, Chairman Zheng Xu will no longer perform the duties of chief inspector.

　　On the same day, Mingya Fund Management Co., Ltd. issued an announcement on the change of senior management personnel, stating that the company newly appointed Yang Libing as the company's chief inspector, and the appointment date is September 8, 2022.

From September 8, 2022, chairman Xiao Hong will no longer perform the duties of chief inspector.

　　Data show that since the beginning of this year, nearly 270 executives of public fund companies have changed, involving hundreds of companies.

Among them, the number of deputy general managers who changed the most was 98.

The number of changes in the chairman and general manager was 59 and 48 respectively.

A reporter from China Securities Journal found that August was the peak period for executives of public fund companies to leave their posts this year, with a total of 47 executives leaving.

　　According to industry insiders, the competition in the public fund industry is fierce, the executives of fund companies have heavy tasks, and performance pressure is high.

At the same time, the public fund industry is developing rapidly, the number of fund companies has greatly increased, and the market talent gap is large, and high-quality fund executives have more choices.