当宝盈基金“王牌”基金经理决定离开

Core Insights - The departure of Yang Siliang from Baoying Fund to E Fund marks a significant talent shift within the fund industry, reflecting a trend of talent migration from smaller firms to larger, leading companies [2][15] - Yang Siliang, who managed over 11.5 billion yuan at Baoying Fund, achieved a return of 156.84% since taking over the Baoying Consumer Theme Mixed Fund in October 2018, outperforming the benchmark by over 10 percentage points in the last three years [3][4] - The recent talent loss at Baoying Fund is indicative of broader challenges faced by mid-sized fund companies, including product structure issues, talent retention difficulties, and competitive disadvantages against larger firms [16] Talent Migration - Yang Siliang's transition is part of a larger trend of talent leaving Baoying Fund, which has seen significant management changes, including the departure of other key personnel such as Vice President Li Jun and Fixed Income Department General Manager Deng Dong [5][6] - The firm has experienced a notable decline in its management scale, dropping from over 11.5 billion yuan to approximately 8.5 billion yuan, reflecting the impact of these departures [4][11] Performance and Challenges - Baoying Fund's public management scale as of June 30, 2025, was 73.27 billion yuan, with over 70% in fixed income products, highlighting a lack of balance in its product offerings [11] - The performance of Baoying Fund's products has been mixed, with some funds, like Baoying Xiangqi Mixed Fund, facing significant challenges, including a return of -9.85% since inception and a drastic drop in scale due to institutional investor withdrawals [11][13] - The firm is struggling with a high turnover rate among its fund managers, with over half of its 18 current managers having less than three years of experience, raising concerns about the continuity and quality of investment management [15][16]