During The Year, 280 Executives Changed 30% Fund Companies "Easy Shuai".

In the twinkling of an eye, only one last quarter left in 2019, and entered the autumn and winter season. For public funds, this year is a rare "warm spring" in general.

The scale and performance show many notable points. To say a little regret, the turnover of executives and fund managers is still frequent.

According to rough statistics of Wind data, according to the twenty-first Century economic report, since the beginning of this year, there have been more than 280 executive changes in public funds, involving nearly 100 fund companies.

The number of fund managers has changed more. Just recently, many fund managers of Dacheng, Kai Tai Fu and other fund companies have changed. Although it is not yet clear that the frequency of the two changes is the highest in the industry, it is certain that this is a higher peak.

Fund executives change frequently

The public fund raised in the first three quarters of this year has performed well. According to the data released by the Galaxy Securities Fund Research Center, the average growth rate of standard equity funds and partial stock funds in the current period is 33.71% and 34.51% respectively. Compared with the main index of the same period, the comparative advantage is obvious. On the scale, the industry has also reached a new stage. According to Wind statistics, as of the end of 9 this year, 744 new funds were set up in the public fund market during the year, raising the total scale of 804 billion 395 million yuan. Whether the number of new funds is set up or the scale of fund-raising is the new high point in the same period since 2016.

Although it is not willing to admit it in a good way, the reality is still hard to hide the frequent flow of talents in the industry, including executives and fund managers. Eleven just after a long vacation, the state opened the Tai Fu fund and issued a notice of the change of the fund manager, announcing that for personal reasons, the fund manager He Xuanwen and Liang Xuedan departing from the country opened up a hybrid of Kai Tai; he Sao Wen left the country to open the sailing mix, leaving the date of October 8th.

Prior to October 8th, Dacheng Fund's Dacheng Hengfeng Bao currency, Dacheng cash plus profit currency, Dacheng Hui Cheng currency, Dacheng Hui pure debt bonds, Dacheng Hui pure debt securities, Onari Em set up pure debt bonds, big Cheng Huili pure debt bonds, Dacheng domestic demand growth mixed, and Dacheng Jing Feng bond (LOF) and other 9 funds issued fund manager change announcement, said that because of internal adjustment, there were 6 fund managers change, of which 5 fund managers left office, leaving office and the new date of September 29th.

As of September 30th, in the first three quarters of this year, the number of executives in the public fund industry has exceeded 250, involving 97 fund companies, close to last year's level, and a record high in the same period. Specifically, there are 26 fund company chairman changes, there are 36 fund managers change, there are many fund companies deputy general manager, inspector general and chief information officer changes. In the three quarter alone, there were more than 30 cases involving executives, including the chairman, general manager, deputy general manager and inspector general.

External corner aggravated

In twenty-first Century, according to the bulletin of the fund company's bulletin, the economic report reporters, including outgoing and new ones, had more than 30 fund companies changed their general managers during the year. More than 10 fund companies had changed the chairman, involving nearly 40 fund companies, accounting for nearly 30% of all 134 fund companies (including brokerages and information management).

Following the first half of this year, ICBC Credit Suisse, Nong Yin Hui Li, Xinhua, Shang Morgan, galaxy, CITIC, Prudential, Huafu, pioneer, Jin Ying, Heng Yue and so on changed the chairman or general manager. In the second half of this year, Tam, deputy general manager of Dacheng Fund, successively served as general manager; Cai Yankun served as the general manager of the Yongfeng trust fund; Li Yongfei resigned as the general manager of the silver fund, replaced by Liu Xiaopeng; Yang Bo, general manager of the national Kai Tai fund, resigned from vice general manager Zhu Yu; the general manager of the fusion fund was changed to deputy general manager; There are also red soil innovation, Chinese entrepreneurs, Ying Tai, Xingye and other fund companies to change the chairman.

It is worth mentioning that in the industry, the first executives of public fund companies holding pure natural persons have changed more frequently. The company has just been founded for two years and has already welcomed third chairmen. In March this year, Bi Guoqiang, the former general manager, was just removed from office and replaced by the then chairman, Huang Peng. Unexpectedly, however, six months later, the chairman and the general manager both changed. Ge Feng became chairman of the board, while former chairman Huang Peng transferred to general manager.

I will not comment on whether Huang Peng has been "demoted" and discussed the reasons for the change. According to the insiders of the twenty-first Century economic report, the main reason is the development of the company. The current management concept of the management is related to the expected difference between the board of directors of the stock market. "In fact, this is also a common problem for many fund companies, especially small and medium-sized fund companies," said a head of a fund company's marketing department.

In addition to the "pressure" of the introverted stock market, the deputy general manager of the Shanghai fund company revealed to reporters that extroverted aspects, such as the industry itself, and bank financing subsidiaries, and other more public funding agencies increased competition under the competition of talent, which led to more frequent changes in the management of fund managers and other executives. The deputy general manager also mentioned that as early as 2018, there had been more obvious signs in the industry. A prominent phenomenon is that the deputy general managers of many large and medium-sized fund companies have been transferred to small fund companies to become general managers.

Multidimensional competition pressure

At present, the pattern of the public fund industry is also undergoing profound changes, and the concentration ratio is increasing. The small and medium-sized fund companies are facing greater challenges. A number of fund managers interviewed admitted to the economic news reporters in twenty-first Century that more and more bank financing subsidiaries and foreign institutions were indeed putting pressure on public funds in attracting talent, which is also a natural survival rule and industry development phenomenon.

It is understood that, a few days ago, a number of bank financial sub companies issued a "reward order" for talents, high salaries for talent, recruitment posts from front-end to sales, from research and development to technical support. Salary is very impressive. Generally speaking, the average monthly salary of ordinary workers is around 25 thousand yuan, and the annual salary of managers is mostly between 1 million yuan and -300 million yuan. According to a data released by hunter recruitment network, a listed bank financial sub company with an asset exceeding 200 billion has previously recruited the person in charge, and the annual salary given is 3 million yuan -600 million yuan. Although this level is not very attractive to executives of large fund companies, there is still room for recruitment for executives of sub new small fund companies.

More than two months ago, a senior executive of a medium-sized fund company in Beijing admitted to reporters that, at present, including the banking department's public offering fund, executives in this industry are not at ease, facing various pressures. Taking some banks as a small fund company, it is often difficult to get support from the stock market or even conflict because of poor performance and poor management. Therefore, most of the executives change are small and medium sized fund companies, and the executives of the banking and personal fund companies are also changing more frequently.

The executive also put forward a new "angle". He said that in the past two years, because the public offering fund is also a light asset industry, talent is the core competitiveness. Therefore, the change of executives and the head of research and development is often a team dissociation. In the first half of this year, the Golden Eagle Fund changed almost from top to bottom. Recently, Shen Wan Ling, Dacheng, UBS and so on have also undergone frequent departmental personnel changes.

The change of fund managers should not be underestimated. This year, the turnover rate of public fund managers is also high, which has reached the highest level in the first half of the year.

Among the fund managers left behind, there are some star fund managers, such as Song Kun of Yi Fang Da, the former chief investment officer of Yongfeng, Sheng Zhenshan, Li Xiaoyu, Changsheng fund Zhao Hongyu and so on. From their resignation, or transferring their jobs inside the company, or entering other asset management institutions to continue their old business, there are very few private equity transfers in the past few years.