张坤“辞官”鲍无可离职，公募“造星时代”渐退

Core Insights - The A-share market has experienced increased volatility, leading to a significant turnover among public fund managers, with 138 managers leaving their positions in 2025, a more than 20% increase compared to the same period last year [1][11] - Notable fund managers, such as Bao Wuke and Zhang Kun, have announced their departure from executive roles to focus on investment management, indicating a shift in the industry towards prioritizing investment capabilities over administrative responsibilities [1][7][12] Manager Departures - Bao Wuke from Invesco Great Wall Fund announced his resignation for personal reasons, with his managed assets decreasing from a peak of 271.86 billion to 162.07 billion, a reduction of 40% [6][11] - Zhang Kun, a prominent manager at E Fund, also stepped down from his executive role to concentrate on investment management, maintaining a managed asset size of 608.22 billion [10][12] Industry Trends - The public fund industry is witnessing a trend of increasing departures, with 358 fund managers leaving in 2024, marking a historical high [11] - The traditional career path of "performing well leads to promotion" is changing, with many successful fund managers opting to return to investment roles rather than taking on executive positions [12][13] - Recent regulatory changes emphasize the importance of investment performance, further motivating fund managers to focus on their core investment responsibilities [13]