兴业基金换帅

Core Insights - The former chairman of Xingye Fund, Ye Wenhuang, has retired due to age, and Liu Zongzhi, a veteran from the banking sector, has been appointed as the new chairman, marking a significant leadership change in the company [1][2] - Xingye Fund has a high proportion of fixed-income products, which are the main drivers of its growth in management scale [1] Company Overview - Xingye Fund was established in April 2013 and is a subsidiary of Xingye Bank [1] - As of mid-2023, the total management scale of Xingye Fund reached 448.023 billion yuan, reflecting an increase of 100.551 billion yuan from the end of last year and 131.478 billion yuan from mid-last year, with a quarter-on-quarter growth of 28.93% and a year-on-year growth of 41.54% [1] - The company ranks 26th among all public fund institutions [1] Product Structure - The product structure of Xingye Fund is characterized by a strong focus on fixed-income products, with equity products being relatively weak [1] - The scale of 14 equity funds under Xingye Fund was 2.953 billion yuan at mid-year, with a quarter-on-quarter growth of 12.79% and a year-on-year growth of 242.71%, accounting for only 3.54% of the total management scale [2] - The scale of 56 bond funds reached 257.931 billion yuan, with quarter-on-quarter and year-on-year growth of 24.58% and 26.22%, respectively [2] - The scale of money market funds was 173.959 billion yuan, with quarter-on-quarter growth of 38.93% and year-on-year growth of 76.45% [2] - Three fund of funds (FOF) had a scale of 0.276 billion yuan, showing a decrease of 3.09% quarter-on-quarter and 15.71% year-on-year [2]