博时基金高层人事调整：张东或将升任董事长

Core Viewpoint - The recent announcement by China Merchants Group regarding the potential appointment of Zhang Dong as the chairman of Bosera Asset Management highlights significant management changes within the company, which may impact its strategic direction and operational performance [1][2]. Group 1: Management Changes - Zhang Dong, currently the general manager and deputy secretary of the party committee at Bosera Fund, is likely to succeed Jiang Xiangyang as chairman following the public announcement [1]. - Since 2023, Bosera Fund has experienced frequent management changes, including the departure of former general manager Gao Yang to Tianhong Fund and Jiang Xiangyang temporarily taking over the general manager role [2]. - Under Jiang Xiangyang's leadership since 2015, Bosera Fund's management scale grew from 205.4 billion to a peak of 1.08 trillion by 2022, establishing a strong position in the fixed income sector [2]. Group 2: Fund Performance and Market Position - As of June 2023, Bosera Fund manages 398 fund products with a total management scale of 1.0867 trillion, ranking 7th in the industry when excluding money market funds [2]. - The fund has a notable advantage in bond investments, with a bond fund scale of 420.2 billion, ranking second in the industry, and the recently launched Bosera Credit Bond ETF exceeding 10 billion in scale within six months [2]. - However, the company faces redemption pressures on some products, such as the Bosera Anyue Short Bond Fund, which saw its scale decline from 12.58 billion at the beginning of the year to 7.059 billion by the end of the second quarter [2]. Group 3: Research Team Dynamics - The core investment research team at Bosera Fund has undergone significant changes, raising market concerns, with key figures in fixed income leaving, including Shao Kai, who was considered a foundational figure in the company's fixed income business [4]. - In 2024, several veteran fixed income managers also departed, alongside the exit of star equity fund manager Sha Wei, whose funds had negative returns [4]. - In total, 11 fund managers have left Bosera Fund in 2024, while 22 new fund managers have been hired, indicating a higher turnover rate compared to industry averages [4].