300亿“固收大将”张翼飞走了，安信基金的天是塌了吗？

Core Viewpoint - The departure of Zhang Yifei, a prominent fund manager at Anxin Fund, marks a significant shift for the company, which is currently facing challenges such as shrinking assets and a potential loss of investor confidence [1][3][19]. Group 1: Departure of Zhang Yifei - Zhang Yifei has resigned from all nine funds he managed, concluding a 13-year career at Anxin Fund, during which he managed assets totaling 32.2 billion CNY [1][3]. - His departure coincides with a 16% year-on-year decline in Anxin Fund's public offering scale, dropping to 99.275 billion CNY in 2024 and further to 94.034 billion CNY by the second quarter of 2025 [1][2]. Group 2: Fund Performance and Challenges - The mixed fund category has been a core pressure point, experiencing a continuous decline for eleven quarters, with its scale halving from a peak of 86.078 billion CNY in Q3 2022 to 38.676 billion CNY by Q2 2025 [2]. - Zhang Yifei's flagship product, Anxin Steady Growth A, achieved a remarkable 81.54% return over nearly ten years, significantly outperforming its benchmark by 25 percentage points [3]. Group 3: Management Transition - Anxin Fund has appointed Zhang Yifei's long-time partners, Li Jun and Huang Wanshu, to take over his responsibilities, emphasizing that core team members will remain and strategies will not change [6][19]. - Li Jun has over 20 years of experience in the securities industry and has co-managed flagship products for over seven years, while Huang Wanshu, with only three years of experience, raises concerns about her ability to manage mixed assets effectively [6]. Group 4: Financial Performance - Anxin Fund reported a revenue of 672 million CNY in 2024, a sharp decline of 20% year-on-year, while net profit increased by 14% to 130 million CNY, indicating a "revenue without profit" dilemma [9][12].