Recently, Rongtong Fund announced that due to personal and family reasons, Zhang Fan will leave the post of general manager from April 22, 2024, and Shang Xiaohu will serve as the general manager.
Bread Finance found that there are more than 80 products under management under Rongtong Fund (the initial caliber of the fund, the same below), with a total scale of more than 140 billion yuan. Among them, the net value of 6 products, including Rongtong Innovation Power A, Rongtong Internet Media, and Rongtong Core Value A, has fallen by more than 30% since its establishment.
General Manager Zhang Fan resigned
On April 23, Rongtong Fund announced that Zhang Fan, the general manager, resigned. According to the announcement, due to personal and family reasons, Zhang Fan will leave the position of general manager from April 22, 2024.
According to public information, Zhang Fan officially became the general manager of Rongtong Fund in June 2017 and served for nearly 7 years.
Shang Xiaohu became acting general manager on April 22. Shang Xiaohu was a researcher at Hesheng Investment Consulting (Shanghai) Co., Ltd., an investment manager of Shanghai Guoxin Investment Development Co., Ltd., a deputy general manager of the investment department of Dingtong Investment Co., Ltd. (Hong Kong), a deputy general manager of the asset management department of BOC International Securities Co., Ltd., an investment director of Rongtong Fund Management Co., Ltd., and a general manager and investment director of Shanghai Xihong Private Equity Fund Management Co., Ltd. Since April 2023, Shang Xiaohu has served as the deputy general manager of Rongtong Fund.
Rongtong Fund: 6 of its products have lost more than 30% since their inception
According to public information, Rongtong Fund Management Co., Ltd. was established in Shenzhen on May 22, 2001 with a registered capital of 125 million yuan. Rongtong Fund is the second batch of fund companies established in China and the thirteenth in China.
The shareholders of Rongtong Fund are Chengtong Securities Co., Ltd. (60% shareholding) and Nikko Asset Management Co., Ltd. (40% shareholding). The actual controller of the company, China Chengtong Holding Group Co., Ltd. (holding 98.24% of the shares of Chengtong Securities), is a state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council.
As of the latest data, Rongtong Fund has more than 80 products under management (the initial caliber of the fund, the same below), with a total scale of more than 140 billion yuan. Among them, the net value of 6 products has fallen by more than 30% since its inception.
Rongtong Innovation Power A has fallen by more than 40% since its establishment. The fund was established in August 2021 and the current fund manager is Wang Di. As of April 24, the net value of the fund has fallen by 45.37% since its establishment, underperforming the performance benchmark by more than 20 percentage points, ranking 1718/2159 in the same category. The fund's net value has fallen by 6.17% year-to-date, underperforming the performance benchmark by more than 8 percentage points, ranking 2588/4174 in the same category. According to the first quarter report of 2024, the fund is heavily invested in stocks such as CATL and Sungrow.
Rongtong Internet Media was established in April 2015 and the fund manager is Zhang Peng. As of April 24, the net value of the fund has fallen by 35.2% since its establishment 9 years ago, underperforming the performance benchmark by more than 30 percentage points, ranking 365/379 in the same category. According to the first quarter report of 2024, the fund has a heavy position in stocks such as Juchen shares and Weice Technology.
Rongtong Core Value A has also fallen more since its inception. The fund was established in February 2013 as a QDII fund, and as of April 23, the net value of the fund has withdrawn 32.63% since the fund's inception.
(Article Serial Number: 1783385672451756032)
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