Zhongxin Jingwei, October 18 -- Ruiyuan Fund ushered in a new general manager.
On October 18, Ruiyuan Fund issued an announcement that due to the company's operation and management needs, Chen Guangming resigned as the company's general manager, and Rao Gang served as the company's general manager.
Screenshot source: Ruiyuan Fund announcement
Chen Guangming stepped down as general manager
The announcement pointed out that Chen Guangming will focus more on investment management in the future; At the same time, as a major shareholder and director of Ruiyuan Fund Management Co., Ltd., as well as the chairman of the talent incentive committee under the shareholders' meeting and the chairman of the remuneration management committee under the board of directors, Chen Guangming will focus on the company's strategy and talent development under the corporate governance framework, participate in the decision-making and management of major matters, and actively promote the company's medium- and long-term steady development.
According to Tianyancha APP data, Ruiyuan Fund was established on October 29, 2018, with a registered capital of 100 million yuan, and Chen Guangming holds 53% of the shares, making it the largest shareholder. It is worth mentioning that this is also the first time that there has been a change of general manager in the nearly 5 years since the establishment of Ruiyuan Fund.
According to the official website of Ruiyuan Fund, Chen Guangming holds a master's degree from Shanghai Jiao Tong University, and served as the general manager and chairman of Orient Securities Asset Management before serving as the general manager of Ruiyuan Fund, with more than 20 years of experience in the securities industry.
Zhongxin Jingwei noticed on the WeChat public account of Ruiyuan Fund that when talking about the reasons for the job change, Chen Guangming said, "On the one hand, I am a craftsman and want to spend more time on investment. In the future, I will focus on investment research, research is part of investment, and I will spend more energy on team training, including the growth of researchers and the transformation of research results. On the other hand, the company's current stage of development is also a natural progression. Our enterprise of many professionals should be fully empowered, play to everyone's strengths, and operate efficiently. Rao Gang has always led the team, and is better at and more suitable for business management. ”
Jingwei noted that Rao Gang, who took over as general manager, joined Ruiyuan Fund in 2021.
According to public information, Rao Gang holds a master's degree from Fudan University and has been a staff member of Industrial Securities since July 1999; Fellow of Wells Fargo Fund since July 2003; General Manager and Fund Manager of the Fixed Income Department of Wells Fargo Fund since January 2006; Assistant to the General Manager of Wells Fargo Fund since July 2010; Assistant to the General Manager of Wells Fargo Fund since August 2013 and General Manager of Wells Fargo Asset Management (Shanghai) Co., Ltd. He joined Orient Securities Asset Management in April 2015, when Chen Guangming was the general manager of Orient Securities Asset Management; Deputy General Manager of Orient Securities Asset Management since June 2016; He joined Ruiyuan Fund in May 2021 and has been the deputy general manager of Ruiyuan Fund since August 2021.
Public offerings have underperformed the average in the past year
It is reported that Ruiyuan Fund manages a total of 3 public funds, namely Ruiyuan Growth Value Hybrid Securities Investment Fund, Ruiyuan Balanced Value Three-year Holding Period Hybrid Securities Investment Fund, and Ruiyuan Steady Allocation Two-Year Holding Period Hybrid Securities Investment Fund. Among them, Rao Gang personally manages Ruiyuan Steady Allocation Two-Year Holding Period Hybrid Securities Investment Fund.
However, the semi-annual report of Ruiyuan Fund shows that the profits of these three funds all suffered losses in the first half of this year, with a total loss of 7.352 billion yuan.
Among them, Ruiyuan Growth Value Hybrid Securities Investment Fund (Class A + C, the same below) had a profit loss of 5.707 billion yuan in the first half of this year, which was the largest profit loss among the three funds in the first half of the year.
Ruiyuan Balanced Value Three-Year Holding Period Hybrid Securities Investment Fund and Ruiyuan Steady Allocation Two-Year Holding Period Hybrid Securities Investment Fund also did not make a profit in the first half of the year, with losses of 1.507 billion yuan and 138 million yuan respectively.
In addition, Jingwei noted that the performance of the above three funds has been quite sluggish in the past year, and all of them have underperformed the average level of similar products. The Ruiyuan Growth Value Hybrid Securities Investment Fund and the Ruiyuan Balanced Value Three-Year Holding Period Hybrid Securities Investment Fund underperformed the CSI 300.
Screenshot source: Ant Fortune APP
Taking Class A funds as an example, if you look at the performance trend of the past year, Ruiyuan Growth Value Hybrid A fell by 27.04%, Ruiyuan Balanced Value Three-year Holding Period Hybrid A fell by 23.94%, while similar (hybrid partial equity funds) fell by 16.15% on average in the past year, and CSI 300 fell by 22.01%. Ruiyuan Steady Allocation Two-Year Holding Period Hybrid A fell by 5.6%, and similar (hybrid other funds) fell by an average of 4.42% in the past year.
It is worth mentioning that recently a number of fund companies have announced that they will self-purchase their funds, and today (18th) Ruiyuan Fund also issued a self-purchase announcement. Ruiyuan Fund said that based on its confidence in the long-term, stable and healthy development of China's capital market, it will use its inherent funds to apply for its public funds in the near future, with a total amount of not less than 100 million yuan and a holding time of not less than 5 years. (Zhongxin Jingwei APP)