China Fund News reporter Fang Li
There is another change in the general manager of the fund company!
On April 23, the announcement of Rongtong Fund showed that Zhang Fan, the general manager of the company, resigned due to personal family reasons, and Shang Xiaohu, deputy general manager, performed the duties of general manager on his behalf.
In recent years, Rongtong Fund has received extensive attention from the capital market, and since the dust of equity change settled, it has officially become a central enterprise fund company.
In the process of rapid development of the fund industry, personnel changes in fund companies have been in full swing. As of April 21, a total of 17 general managers of 10 fund companies have changed this year, which is the epitome of senior management changes in recent years. The change of senior management will bring fresh blood to the fund industry, bring new force to the operation and management of fund companies, and lay a good foundation for the high-quality development of the fund industry with the continuous addition of outstanding talents.
Zhang Fan resigned as general manager of Rongtong Fund
On April 23, Rongtong Fund issued an announcement on the change of senior management, and Zhang Fan, the general manager of the company, resigned for personal reasons.
According to public information, Zhang Fan officially became the general manager of Rongtong Fund in June 2017 and has served for nearly 7 years.
Regarding the reason for Zhang Fan's resignation, the reporter of this newspaper called Rongtong Fund, and the company said that Mr. Zhang Fan submitted his resignation to the board of directors as the general manager of the company due to personal and family reasons. At present, the company's business development is normal.
In December 2021, the dust settled on the equity change project of the original New Era Securities, the controlling shareholder of Rongtong Fund, and China Chengtong Group finally acquired 98.24% of the equity of the original New Era Securities at a price of 13.135 billion yuan. In March 2022, the China Securities Regulatory Commission approved China Chengtong Group to become a major shareholder of New Era Securities and the actual controller of Rongtong Fund. The original New Era Securities was renamed Chengtong Securities, officially becoming a subsidiary of a central enterprise, and Rongtong Fund became a central enterprise fund company.
Shang Xiaohu performs the duties of general manager on behalf of the general manager or attaches more importance to investment and research capacity building
According to the announcement information, Shang Xiaohu, deputy general manager of Rongtong Fund, has performed the duties of the company's general manager since April 22.
Shang Xiaohu has many years of investment research experience and experience in the asset management industry, and is a senior investment research expert who is well-known in the industry. Shang Xiaohu previously served as the investment director of Rongtong Fund, responsible for the company's equity and quantitative investment research business, and he also served as the fund manager of Rongtong China Wind No. 1 Fund and Rongtong State-owned Enterprise Reform New Opportunity Fund, during which he achieved good investment performance.
It is understood that after the actual controller was changed to China Chengtong Group, Shang Xiaohu returned to Rongtong Fund in April 2023 as the company's deputy general manager, in charge of investment and research. In 2023, Rongtong Fund will have a good investment and research performance, according to the data of the Fund Research Center of Galaxy Securities, the company's active stock investment performance ranks 26/125 in the industry, and the active bond investment performance ranks 43/129 in the industry. The strength of the investment and research team of Rongtong Fund has been further enhanced, and 12 new fund managers have been hired, and the investment style tends to be diversified.
Unlike many peer fund companies, Rongtong Fund's investment research seems to have become more distinctive. As a fund management company, China Chengtong Group, a state-owned capital operation company supervised by the State-owned Assets Supervision and Administration Commission of the State Council, has deeply integrated the investment research and high-quality development of state-owned central enterprises, created a unique investment and research business card, issued the "Rongtong CSI China Chengxin Central Enterprises Credit Bond Index Fund" focusing on the credit bond investment of central enterprises, raised more than 2 billion yuan, and promoted the compilation of "CSI Chengtong Central Enterprises ESG Index", "CSI Chengtong Central Enterprises Dividend Index" and "CSI Chengtong Central Enterprises Science and Technology Innovation Index". Grasp the main line of high-quality development, focus on the themes of "fighting new industries", "revitalization of Northeast China" and "new quality productivity", and organize a series of surveys on "entering central state-owned enterprises".
The new "National Nine Articles" of the capital market put forward the requirements of "promoting the high-quality development of securities and fund institutions" and "promoting industry institutions to strengthen investment banking capabilities and wealth management capabilities". Industry insiders believe that the deputy general manager of the Rongtong Fund will perform the duties of the general manager on behalf of the deputy general manager with a professional background in investment research, or based on the consideration of strengthening the company's core capacity building of investment research.
"Two-wheel drive" to create a characteristic fund company
The new "National Nine Articles" point out that the high-quality development of securities and fund institutions will be promoted. Guide industry institutions to establish a correct business philosophy, especially put forward "support leading institutions to enhance their core competitiveness through mergers and acquisitions, organizational innovation, etc., and encourage small and medium-sized institutions to develop differently and operate with characteristics". More and more fund companies are moving towards the road of characteristic development.
It is reported that after China Chengtong became the actual controller, Rongtong Fund established a "two-wheel drive" development strategy to serve the operation of state-owned capital and the management of residents' wealth, and built a business pattern of "flying with two wings" for domestic business and international business. Thanks to the correct differentiated development path, Rongtong Fund has achieved contrarian growth in assets under management, effectively reversing the unfavorable development situation before the change of actual controller.
Regarding the next step of development, Rongtong Fund said in an interview with this newspaper that Rongtong Fund is full of confidence in China's capital market, and will conscientiously study and implement the spirit of the Central Financial Work Conference, always keep in mind the fundamental purpose of financial services for the real economy, create business characteristics that serve the high-quality development of state-owned central enterprises and the operation of state-owned capital, and provide professional asset management services for residents' wealth preservation and appreciation; The concept of value investment is to win the trust of the market and investors with long-term stable and good investment performance, and strive to become a first-class asset management company with the characteristics of state-owned capital operation.
This year, there are 17 changes in the general manager
In the future, senior management changes may tend to be normalized
In the process of rapid development of the fund industry, personnel changes in fund companies have been in full swing. As of April 21, a total of 17 general managers of 10 fund companies have changed this year.
Specifically, if you count Rongtong Fund, there will be changes in the general managers of fund companies such as Taixin Fund and BlackRock this year.
The general manager is the "soul of a fund company". Regarding the frequent changes in the head of the fund in the past two years, a director of the public market development department in South China said that as the company's management and core figures, the change of senior executives will definitely have a greater or lesser impact on the company, but it needs to be divided into two to look at this issue. Normal personnel changes will not affect the stability of the company. However, too frequent changes in senior management and constant adjustments in corporate strategies and decisions are certainly not conducive to the company's development.
The above-mentioned people also said that the asset management industry is developing rapidly, the demand for senior executives in the fund industry is increasing, and it is reasonable for senior executives in the public offering industry to change frequently. But at the same time, the scarcity of personnel in the asset management industry is also a reality. "Normal talent flow is a good thing, not a bad thing. There is flow, there is vitality. If there is a lack of good talent in an industry, that is what should be worried. ”
A third-party fund evaluator also said that the full flow of talents in the fund industry can bring about the development vitality of the industry. As an industry dominated by human capital, the rapid development of the fund industry in recent years has given rise to an urgent need for excellent management talents. Those outstanding talents who stand out through full competition can often bring better returns to holders, shareholders and employees, achieve better development of fund companies, and promote the high-quality development of the fund industry.
Editor: Captain
Review: Xu Wen