On December 30, 2023, Bank of Shanghai Fund announced an important personnel change: Shi Minjia, the original fund manager of Bank of Shanghai New Energy Industry Select Hybrid Initiator, has left his post on December 29, 2023 due to personal reasons, and will be replaced by Zheng Zhong.
This is Shi Minjia's third fund product to leave in 2023. Previously, he also left the position of Bank of Shanghai Technology-Driven Bi-weekly Regular Redemption and Bank of Shanghai High Quality Preferred 9-month Hold, which are both about 100 million yuan in size and belong to "mini" funds. At present, Shi Minjia no longer has any fund products under management.
Zheng Zhong, the new fund manager, has previously served as a researcher and senior researcher at the Bank of Shanghai Fund, and the first fund product he manages is the first fund product he manages. However, the fund has not performed well in 2023. According to Wind statistics, the fund's loss in 2023 is as high as 46.18%, making it the worst performing public fund product that year.
BOC New Energy Industry Select mainly invests in the stocks of listed companies related to new energy themes. In the third quarter of 2023 report, many of the fund's top 10 heavy stocks are photovoltaic concept stocks, such as Sungrow, Tuopu Group, Junda shares, etc. Although the fund said in the report that it is firmly optimistic about outstanding companies in the fields of photovoltaic and energy storage, the sharp adjustment of the new energy sector in 2023 has caused the performance of related thematic funds to generally decline.
In addition to the BOC New Energy Industry Select, there are many other active equity funds that have also underperformed in 2023. There were 13 active equity funds that lost more than 40% of their performance during the year, and 143 lost more than 30%. Among them, the losses of Guolian New Opportunities jointly managed by Zhu Xiaoming and Du Chao of Guolian Fund and Nord Preferred 30 managed by Niu Zhiyuan of Nord Fund are particularly serious, ranking second and third from the bottom respectively. Most of these bottom-performing fund products are small in scale and belong to "mini-funds".
Among the fund managers with poor performance, Zhou Ziguang of China Securities Construction Investment Fund and Zheng Chengran of GF Fund have attracted much attention. Two of Zhou Ziguang's fund products have annual losses of more than 40%, and the other two have also suffered serious losses. The 7 fund products managed by Zheng Chengran all have annual losses of more than 30%, including GF High-end Manufacturing A, GF Growth Momentum Three-year Holding A and other large-scale funds.