SEALAND SECURITIES(SZ:000750) Sou Hu Cai Jing·2025-03-24 07:45Core Viewpoint - The announcement of the leadership transition at Guohai Franklin Fund, with Wu Xianling retiring and Liu Jun taking over as chairman, highlights a significant change in the company's management structure and raises questions about future performance under new leadership [1][13]. Group 1: Leadership Transition - Wu Xianling retired as chairman on March 20, 2025, after a notable tenure, and Liu Jun has been appointed as the new chairman [1][3]. - The company expressed high regard for Wu Xianling's contributions, noting her pivotal role in the establishment and strategic development of Guohai Franklin Fund since its inception [6][7]. Group 2: Performance Under Wu Xianling - Under Wu Xianling's leadership, the fund's management scale grew from 14.159 billion to 84.484 billion, marking a 496% increase [6]. - The fund adopted a differentiated competition strategy, with active equity funds and international business (QDII) being key growth drivers, achieving a QDII scale of 5.429 billion by the end of 2024 [6][7]. Group 3: Liu Jun's Background - Liu Jun's previous roles include positions at Guohai Securities and Guohai Innovation Capital, but he lacks extensive experience in the public fund industry [13][14]. - His past involvement in the "carrot stamp" incident at Guohai Securities raises concerns about his ability to lead effectively [13][15]. Group 4: Market Position and Investor Confidence - Guohai Franklin Fund has a strong reputation among institutional investors, with 44 out of 52 funds favored by them, indicating a solid market position [10][11]. - The average tenure of senior management at the fund is 15.9 years, suggesting stability in leadership, which may be challenged by the new appointment [8].