鹏华基金累计服务客户超2亿，邓召明有了压力

Core Insights - The investment management industry is expected to benefit from a stable macro environment and ongoing reforms, as highlighted by Penghua Fund's General Manager, Deng Zhaoming [1] - As of the end of 2022, Penghua Fund served 140 million clients with total assets under management (AUM) of 1,114.1 billion yuan, generating 224.8 billion yuan in profits and 99.9 billion yuan in dividends [1] - By September 30, 2025, the AUM increased to 1,329.4 billion yuan, serving 217 million clients, with profits and dividends reaching 469.3 billion yuan [1] - Despite growth, Penghua Fund's performance is not outstanding compared to newer competitors in the public fund industry [1] Company Performance - The AUM of Penghua Fund increased by 215.3 billion yuan over the past two years, with client numbers rising by 7.7 million and profits and dividends increasing by 144.6 billion yuan [1] - The mixed fund segment has faced significant challenges, with the AUM of Penghua's mixed fund dropping from 157.1 billion yuan at the end of 2020 to approximately 87.1 billion yuan by November 5, 2025, indicating a near 50% decline [3] - Several funds under Penghua Fund are experiencing losses, with the Penghua CSI High-Speed Rail Industry A fund showing a return of -57.50% since inception [5][6] Reputation and Management Issues - Penghua Fund is facing reputational risks due to a recent incident involving two fund managers allegedly fighting in the office, which the company has denied [7][8] - The two fund managers involved manage the Penghua Innovation Future Mixed Fund (LOF), which has an overall return of -27.74% since inception, although it has performed better in the past year with a return of 43.03% [8]