少见！国新国证首席投资官两次卸任同一只基金

Core Viewpoint - The recent announcement from Guo Xin Guo Zheng Xin Li Fund indicates a change in fund management, with Bi Zi Nan stepping down and Zhang Hong Lei taking over as the new fund manager. This marks Bi's second departure from this fund, which has seen poor performance during his tenure [1][3]. Fund Management Changes - Bi Zi Nan has 28 years of experience in the securities industry and has been with Guo Xin Guo Zheng Fund Management since March 2020. He currently serves as the Chief Investment Officer [2]. - This is Bi's second time leaving the Guo Xin Guo Zheng Xin Li Fund, having previously managed it from March 3, 2021, to July 7, 2022, with a total return of -6.26%, ranking 1247 out of 1860 similar funds [3]. - After rejoining the fund on May 31, 2024, Bi's second tenure lasted less than a year, with a return of 0.13%, ranking 1720 out of 2277 similar funds [3]. Fund Performance - The Guo Xin Guo Zheng Xin Li Fund was established on September 2, 2015, and as of June 20, 2025, its cumulative net value is 0.792 yuan, reflecting a decline of 20.8% since inception. The fund's total scale was only 0.21 billion yuan as of the end of Q1 2025 [3][8]. - The fund's stock holding ratio has fluctuated significantly, dropping from 93.12% at the end of Q1 2024 to 53.09% by the end of Q2 2024, and further declining to 41.96% by the end of the year [4]. New Fund Manager Profile - Zhang Hong Lei, the new fund manager, has previously managed the Guo Xin Guo Zheng Xin Rui Fund, achieving a total return of 16.01% since his appointment on September 7, 2021, which places it among the top in its category [6][7]. - Zhang's previous management of the Guo Xin Guo Zheng Rong Xing Fund resulted in a loss of over 13%, raising questions about his ability to improve the performance of the Guo Xin Guo Zheng Xin Li Fund [7]. Company Overview - Guo Xin Guo Zheng Fund was established in March 2019, with total assets of 11.081 billion yuan as of the end of Q1 2025. The fund has three equity funds with a total scale of 0.223 billion yuan [8].