A Survey On The New "Digging Economy" Of Public Offering

The equity market continues to be hot, making many fund companies join the competition, even some institutions that have threatened to focus on the development of "fixed income +".

"Can we have a hot market share?" Many organizations are thinking.

But for the small and medium-sized fund companies with weak equity investment and research ability, how to overtake in a corner has become the focus of the problem.

"A small fund company wants to take advantage of the market to develop more equity investment this year. It has found a lot of equity investment research teams from outside and wants to" dig corners ". However, it finds that the quotation for human resources has suddenly increased." Recently, a reporter from the Shanghai First Century Fund has reported that the fund has been raised by the public.

In fact, the situation of this small fund company is not alone.

The reporter of the 21st century economic report has learned that with the continuous hot market, many fund companies are digging up a whole investment research team when they are digging people, but the price of "digging corners" is also becoming more and more expensive.

According to the data, many fund managers have left this year. Some fund managers continue to fight in public funds, some turn to securities companies, and others go to private placement and other industries.

More than 200 fund managers left during the year

Not long ago, Kong Xuefeng, the "veteran" fund manager of Cinda Australia Bank Fund Management Co., Ltd., officially left his post on September 30 this year for personal reasons, and he was the second fund manager to leave the company during the year.

According to wind data, as of October 29 this year, there were 2316 fund managers in 141 fund companies. During the year, 216 fund managers left and 392 fund managers took up their posts.

This figure is only 15% lower than that of 231 mutual fund managers in 2019.

The number of fund managers leaving in 2019 was the highest in the past three years, with 190 and 170 public fund managers respectively in 2018 and 2017.

In other words, according to the current trend, this year may exceed the number of fund manager job changes in 2019.

Specifically, nine fund companies had more than five fund managers leaving during the year, including Soochow Fund and China Post Fund.

According to the 21st century economic report, the industry's star fund managers, such as Lin Peng, Zhou Weifeng, Yu Yang and Cui Jianbo, all left their original fund companies and went to new posts this year. There are also fund companies due to the change of internal shareholders or other governance problems leading to fund managers leaving.

Among all the equity fund managers who have left the company, "the biggest brand" is Lin Peng.

He left his former vice general manager in charge of equity fund investment in Dongfanghong asset management. At that time, he managed to raise more than 28 billion yuan. In May this year, Dongzheng asset management announced that Mr. Lin Peng, the company's deputy general manager and general manager of the public equity investment department, left his post as the fund manager of several funds. Once this news came out, many base people were at a loss.

Three months later, it was reported that Lin Peng was the legal representative, chairman and general manager of Shanghai Hexie Huiyi Asset Management Co., Ltd. after his resignation, he officially entered the private placement industry.

Of course, Lin Peng is not the only case of private placement.

According to the reporter's understanding, there are also star fund manager Yu Yang in the direction of pharmaceutical stocks.

Yu Yang left Wells Fargo in June this year. On September 1, Shanghai Qinmu asset management partnership registered. According to the information, the proportion of overseas subscription accounts for 39%. The executive partner (appointed representative) of the company is Liu Shiwei, who previously served as the research director of 10 billion private equity.

Zhou Weifeng of Cathay Pacific Fund also left Cathay Pacific Fund, which has been in service for more than ten years in August. Before leaving his post, his management scale has exceeded 11 billion yuan. Today, Zhou Weifeng's next station has not been publicly announced, but there are sources in the industry that he is likely to join a well-known PE organization.

In addition, there are also fund managers in China's securities industry.

Fund company's "poaching"

In the same period up to October 29 this year, there are 392 fund managers newly recruited by 141 fund companies.

Among them, GF Fund ranked first in the number of new fund managers, with 14 new fund managers recruited during the year, followed by Huaxia Fund.

"The general manager of our company personally went to" poach "a well-known equity fund manager in the industry. It can be said that he" looked at the thatched cottage "and finally succeeded A public fund source told the 21st century economic reporter.

"This year's market is coming. In fact, everyone is digging people, and the cost is very high, but we must" suoha. " Said the public offering fund.

In fact, the 21st century economic reporter learned that some fund companies immediately started to prepare for the reconstruction of the company's investment and research system after the recruitment, hoping that the new team can promote the great development of the company's equity funds.

This year, many fund managers prefer to stay in the industry.

For example, Chen Jun, deputy general manager and investment core of BOC fund, left his post in February and has joined Soochow Fund as executive vice president.

In addition, Cui Jianbo, former deputy general manager and investment director of Xinhua fund, also left Xinhua fund, which has been operating for more than ten years.

In June this year, Cui Jianbo joined founder Fubang fund as chief investment officer.

Earlier on May 23, Cui Jianbo announced the dismissal of fund managers in seven funds managed by Xinhua fund. The column of reasons for fund manager's leaving the post shows "personal reasons", and Cui Jianbo did not transfer to other positions of Xinhua fund.

Cui Jianbo has been the fund manager of Xinhua pan resource advantage hybrid fund since March 2010. Since his resignation from Xinhua fund, Cui Jianbo has more than 10 years of public offering investment experience. During his tenure in Xinhua fund, Cui Jianbo managed a total of 17 funds, including Xinhua preferred consumption mix, Xinhua trend pilot hybrid and Xinhua Xinyi flexible allocation hybrid, with returns of more than 200% during his tenure.

On the whole, many of the 216 fund managers who left this year are still working in the public offering industry.

For example, 13 fund managers have turned to Cathay Pacific Fund and Wells Fargo fund, and are still fighting in the public fund industry.

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