Financial circle network October 19 news, today learned that the deputy general manager of the Industrial Securities Global Fund Dong Chengfei will officially leave the Xingquan Trend, Xingxin New Vision Fund fund manager position, who to take over the two large-scale products has become the focus of the most attention of the people. The financial industry network first connected with the Industrial Securities Global Fund and learned that after Dong Chengfei left office, the Xingquan Trend Fund will hire Xie Zhiyu and Dong Li to take over as the fund manager, and jointly manage with the original fund manager Tong Lan; the Xingxin Vision Fund will be managed by housewarming.
As a star fund manager with nearly 15 years of investment experience and a total asset management scale of more than 60 billion yuan, Dong Chengfei's position in the public fund industry is unquestionable. Beginning with the formal management of public offerings in February 2007, Dong Chengfei has experienced several rounds of bull-bear transformation in his nearly fifteen years of fund investment career, including fluctuations in the macroeconomic environment from 2007 to 2009, low return periods in successive years from 2010 to 2013, explosive markets in 2014-2015, and a more open and mature A-share market since 2016.
In this process, Dong Chengfei has formed an investment style known for its stability, and the representative product he manages, Xingquan Trend Fund, has achieved an annualized return of 20.98% since its management on October 28, 2013 and has won authoritative awards in the industry such as the Golden Bull Award and the Morningstar Award for many times.
The sudden departure of a 15-year-old investment veteran from the fund manager, the market is very concerned about the reasons behind it. In this regard, Dong Chengfei said that the main reason is that as the company's investment research team tends to mature and stable, a relatively perfect talent echelon has been formed, and he also wants to make some changes, temporarily bid farewell to fund management, spend more time on precipitation and growth, and try to make some new explorations in investment.
This time, Dong Chengfei only left the fund manager position, and there is still speculation in the market whether he will leave the Industrial Securities Global Fund in the future. In this regard, CISI Global Fund responded that after Dong Chengfei left the fund manager, he will still serve as the leader in charge of the fund management department and the research department, and the follow-up matters shall be subject to the company's announcement. At the same time, check the data to understand that the voluntary departure rate of investment research personnel including investment, research and trading of the Industrial Securities Global Fund in 2018-2020 is 9%, 2% and 1%, respectively, which is lower than the industry average.
As we mentioned above, the successors of the Xingquan Trend Fund and the Xingxin Vision Fund: Xie Zhiyu, Dong Li and Housewarming.
The financial industry network checked the information and learned that Xie Zhiyu is currently serving as the assistant general manager and investment director of the company. Since becoming a fund manager in 2013, he has won 9 Golden Bull Fund Awards. In addition, Galaxy Securities statistics show that as of June 30, 2021, its representative product, Xingquan Herun Fund, has achieved an annualized return of 28.92% in more than 8 years of management.
Dong Li currently serves as the deputy director of the company's research, and manages the company's research department with Dong Chengfei, and currently manages the Xingquan Asset Light Fund. It is understood that After Joining the Industrial Securities Global Fund, Dong Li has won 4 Golden Bull Fund Awards.
Housewarming is Dong Chengfei's old partner, who managed the Xingquan Trend Fund with Mr. Dong Chengfei for three years from July 2017 to July 2020. Independently managing the Xingquan Business Model Preferred Fund since July 10, 2018, Galaxy Securities statistics show that as of June 30, 2021, its annualized return in the past three years under management of the product reached 37.88%.
The following is a letter from Dong Chengfei to the fund holders
Dear Fund Holders,
Hello.
I am writing this letter first of all to thank Xingquan Trend, Xingxin Vision, and every former and current holder of Xingquan Global Vision, Xingquan Business Model and Xingquan Social Responsibility Fund that I have managed, and thank you for your trust and support to me and our company. In this era of vigorous development, I am deeply fortunate to engage in a career that I love, and I am fortunate to have the love of many holders, and I am sincerely grateful.
In early 2007, when the company decided to let me manage the Xingquan Global Vision Fund alone, the excitement and nervousness still seemed to be felt today. Remember the first three years of being a fund manager, the pressure lingered, but as the fund management time became longer and longer, slowly adapted to this rhythm, the mentality was much calmer, the perception of investment has also been significantly improved, and the time dimension of looking at the problem is more long-term. Fifteen years of public fund investment management career, through the fluctuations of the macroeconomic environment in 2007-2009, the low return period of 2010-2013 consecutive years, the explosive market in 2014-2015, and the more open and mature A-share market since 2016, along the way, gains and losses are rare accumulation and growth, a lot of feelings, more gains.
As the company's investment research team tends to mature and stable, forming a relatively perfect talent echelon, I also want to make some changes, temporarily bid farewell to fund management, spend more time on precipitation and growth, and try to make some new explorations in investment. The company's best colleagues will take over the investment management of the relevant funds, and we will make good work arrangements to ensure a smooth transition.
Cixing Securities Global Fund is the first company I have worked for since graduation, and the company's responsibility-oriented corporate culture, simple and focused investment and research atmosphere, and the experience of growing together with excellent colleagues are all valuable assets in my life. Thanks to the cultivation and trust of several leaders of the company, I am also proud to be able to participate in the preparation of the company and witness the development of the company. In my mind, industrial securities global funds are the best public fund companies in China so far, and there is no one.
Investing is practice and requires continuous improvement. In this way, I encourage myself and all of you to "rejuvenate all people"!
Dong Chengfei
October 19, 2021
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