申万菱信否认“强迫员工买基金”

Core Viewpoint - The recent performance of the Shenwan Hongyuan Industry Select Fund, managed by newly appointed deputy general manager Jia Chengdong, has raised concerns among investors due to significant losses despite a bullish market environment [2][4][6]. Group 1: Fund Performance - The Shenwan Hongyuan Industry Select Fund, established on June 3, 2025, has experienced a cumulative decline of over 8% by August 11, 2025, significantly underperforming the Shanghai Composite Index, which rose by 8.96% during the same period [4][5]. - The fund's initial scale reached 1.219 billion yuan with 10,477 effective subscriptions, marking it as the largest fund launch for Shenwan Hongyuan in 2025 [4][6]. - The fund's net asset value dropped from 0.98 yuan to 0.92 yuan within three trading days, indicating volatility and a rapid decline in value [5]. Group 2: Management Background - Jia Chengdong joined Shenwan Hongyuan in December 2024 and became deputy general manager in March 2025, shortly before managing the Shenwan Hongyuan Industry Select Fund [3][6]. - Prior to joining Shenwan Hongyuan, Jia managed 15 funds over nearly a decade, with mixed performance results, including both significant gains and losses in various products [6][7]. Group 3: Market Reactions and Investor Sentiment - Investors have expressed dissatisfaction with the fund's performance, labeling it as a "bull market bear fund" and indicating intentions to redeem their investments [4][5]. - The fund's rapid fluctuations and inability to adapt to market conditions have raised concerns about the manager's capability and the fund's long-term viability [5][6]. Group 4: Company Challenges - Shenwan Hongyuan has faced multiple fund liquidations in 2025, with at least six funds undergoing liquidation due to asset values falling below the required thresholds [7][8]. - The company's total asset management scale has decreased to 82.557 billion yuan, ranking it 66th in the industry, down from 84.640 billion yuan at the end of 2024 [8].