Core Viewpoint - The announcement of Zhang Dong as the new chairman and acting general manager of Bosera Fund marks a significant leadership transition, ending the "Jiang Xiangyang era" and raising industry expectations for Zhang's strategic direction [1][5]. Group 1: Leadership Transition - Jiang Xiangyang has served as the general manager since July 2015 and chairman since April 2020, leading Bosera Fund for over ten years [2]. - Jiang has moved to a new role at China Merchants Group, indicating a shift in leadership dynamics within the company [2]. Group 2: Company Background - Bosera Fund, established in July 1998, is one of the first five fund management companies in mainland China, with six shareholders including China Merchants Securities and China Great Wall Asset Management [2]. Group 3: Industry Growth - During Jiang's tenure, the public fund industry in China experienced rapid growth, with the number of fund products increasing from 2,360 in Q1 2015 to 12,900 by Q2 2025, and total assets under management rising from 7.06 trillion yuan to over 33 trillion yuan [3]. - Bosera Fund's asset management scale grew from 132.44 billion yuan in Q2 2015 to 1,132.01 billion yuan by Q2 2025, improving its industry ranking from 16th to 8th [3]. Group 4: Current Fund Composition - Bosera Fund currently exhibits a "strong bond, weak equity" characteristic, with over 60% of its non-monetary fund scale in money market and bond funds, while equity and mixed funds have decreased by 30% from their peak in 2021 [3]. Group 5: Financial Performance - In the first half of 2025, Bosera Fund reported a net profit of 763 million yuan, a slight increase of 0.93% year-on-year, with revenue of 2.356 billion yuan, up 6.37% [4]. - The company faced revenue fluctuations from 2022 to 2024 due to industry fee reductions and market conditions, with net profits of 1.724 billion, 1.524 billion, and 1.515 billion yuan respectively [4]. Group 6: Strategic Vision of New Leadership - Zhang Dong, with over 30 years of experience in finance and wealth management, aims to enhance Bosera Fund's positioning as a creator of client value, discoverer of investment value, leader in high-quality development, and contributor to the construction of a financial powerhouse [5][6]. - Zhang plans to improve pricing and allocation capabilities across various assets, develop flagship products in fintech and green finance, and expand customer base through innovations in inclusive and pension finance [6]. - The industry anticipates that Zhang's extensive background in wealth management and resources within the China Merchants network may strengthen the company's strategic initiatives, although the challenge remains to improve equity investment capabilities while maintaining its traditional strengths in fixed income [6].
博时基金掌舵人交替 张东的新棋局是什么？
Jing Ji Guan Cha Wang·2025-10-16 14:15