宝盈基金老将杨思亮出走 长跑健将年内跑输同类均值

Core Viewpoint - The article discusses the recent departure of prominent fund manager Yang Siliang from Baoying Fund, highlighting the challenges the company faces in retaining top talent despite its historical success in nurturing well-known fund managers [1][2]. Group 1: Departure of Key Personnel - Yang Siliang, a notable fund manager with a track record of impressive returns, left Baoying Fund at the end of August 2023 after a decade with the company [1]. - Baoying Fund, established 24 years ago, has been referred to as the "Huangpu Military Academy of Shenzhen Public Funds," having produced several prominent fund managers over the past decade [1]. Group 2: Performance of Funds - Yang Siliang managed several funds, achieving a return of 156.84% and an annualized return of 14.76% for Baoying Consumer Theme Fund, which became one of his signature funds [1]. - Despite Yang's strong historical performance, the funds he recently managed have underperformed in 2023, with Baoying Consumer Theme Fund yielding only 5.41%, significantly below the 22.46% average of its peers [2]. Group 3: Fund Management Transition - New fund managers Zhang Ruolun and Li Weiyu have taken over the management of Baoying Consumer Theme Fund and Baoying Value Growth Fund, respectively, both having joined Baoying Fund in recent years [2]. - The new managers have limited experience, with Li Weiyu managing public funds for just over a year [2]. Group 4: Investment Focus - The underperformance of the funds may be attributed to their heavy investment in consumer and blue-chip stocks, particularly in the liquor sector, which constitutes a significant portion of their top holdings [3]. - Major holdings include well-known companies such as Kweichow Moutai, Wuliangye, and Tencent Holdings, indicating a concentrated investment strategy in large-cap stocks [3].