规模又降了！安信基金为何与“千亿”一线渐行渐远？

Core Insights - The public fund industry in China is experiencing significant growth, with total net asset value surpassing 36.74 trillion yuan by the end of September 2023, marking an increase of 3.92 trillion yuan or nearly 12% from the end of 2022 [3][4] - In contrast, Anxin Fund's management scale has declined, with a reduction of 139.04 billion yuan, representing a 14% decrease, bringing its total to 853.71 billion yuan by the end of September 2023 [3][4] Industry Growth - The public fund industry has shown robust growth, with stock funds increasing by 1.5 trillion yuan, a growth rate of 33.73%, while bond funds only saw a modest increase of 0.36 trillion yuan or 5.27% [4] - The total net asset value of public funds reached 36.74 trillion yuan by September 2023, up from 33 trillion yuan at the end of 2022 [3][4] Anxin Fund's Performance - Anxin Fund's product structure is a contributing factor to its declining management scale, with approximately 40% of its assets in equity funds, while stock funds account for less than 10% of its total management scale [4] - As of the end of September 2023, Anxin Fund's stock fund size was 70.73 billion yuan, while its bond fund size was 322.7 billion yuan, both showing significant declines [4] Impact of Key Personnel Changes - The departure of prominent fund manager Zhang Yifei has also impacted Anxin Fund, with his resignation affecting the management of nine funds, which collectively saw a decrease in size from 298.57 billion yuan to 211.77 billion yuan [5][6] - Zhang Yifei was a key figure in Anxin Fund's investment team, having held various significant positions since joining in 2012 [6] Regulatory Environment - The regulatory focus on increasing the proportion of equity investments in public funds presents a challenge for Anxin Fund, which has a strong emphasis on fixed-income products [7]