内部调整？公募业又见清仓式卸任，18年投资生涯落幕

Core Viewpoint - The resignation of Zou Xi, the Deputy General Manager and Equity Investment Director of Rongtong Fund, is attributed to "internal adjustments" and personal reasons, marking a significant change in the management of the firm’s funds [2][3]. Fund Management Changes - Zou Xi has resigned from managing four funds, including Rongtong Industry Prosperity Mixed and Rongtong Leading Growth Mixed, after nearly 18 years in public fund management [3]. - His tenure saw a peak management scale of 15 billion yuan, which has since plummeted to 3.925 billion yuan, a decline of over 70% due to poor performance and significant investor redemptions [4]. Performance Metrics - Zou Xi's management of Rongtong Industry Prosperity A yielded a cumulative return of 161.32% from July 2012 to September 2025, with an annualized return of 7.56% [3]. - However, recent performance has been disappointing, with Rongtong Industry Trend Selected A showing a return of -30.49% from March 2021 to October 2024 [4]. Successor Team - Rongtong Fund has appointed a new management team, with Li Jin taking over Rongtong Industry Prosperity Mixed and Rongtong Industry Trend Stocks, while He Long and a duo of Wan Minyuan and Cheng Yuekai will manage other funds [5]. - The new managers have demonstrated strong performance, with Li Jin's fund achieving a return of 39.60% over the past year, significantly outperforming its benchmark [5]. Industry Trends - The public fund industry is shifting from a focus on individual star fund managers to a more collaborative team-based approach, reflecting a broader trend in the sector [8]. - Rongtong Fund has been enhancing its integrated research and investment system since its merger with China Chengtong Group in 2022, aiming to strengthen its investment capabilities [8]. Company Overview - As of June 30, 2025, Rongtong Fund's total assets under management reached 339.8 billion yuan, with public fund assets at 154.25 billion yuan and private fund assets at 185.59 billion yuan [7]. - The firm has been working to improve its investment performance, with recent data showing its equity excess return ranking has improved over the past three years [7].