一天卖100亿的德邦基金，出大事了

Core Viewpoint - The regulatory body has penalized a public fund company, Debang Fund, for collaborating with an unqualified internet influencer to promote a fund, leading to significant investor inflows and subsequent regulatory actions [1][3][32]. Group 1: Regulatory Actions - The regulatory agency issued a notice on January 29, 2026, stating that Debang Fund engaged in marketing cooperation with an internet influencer lacking the necessary qualifications, resulting in the payment of substantial advertising fees [1][32]. - As a consequence, Debang Fund was ordered to rectify its practices and had its public fund product registration suspended, with accountability measures taken against senior management [3][32][51]. Group 2: Fund Performance and Investor Impact - The fund involved, Debang Stable Growth, has underperformed, with a total return of only 25.23% since its inception nearly nine years ago, translating to an annualized return of just 2.56% [12][41]. - On January 12, 2026, the influencer's promotion led to over 10 billion yuan in subscriptions for the fund in a single day, despite its poor historical performance [2][40]. - The fund's performance has been particularly weak, with a return of only 8.06% in 2025, placing it at the bottom of its peer group [44][48]. Group 3: Marketing Practices and Industry Implications - The collaboration involved the influencer leveraging their significant following to encourage investors to purchase a high-risk product, which may not align with their risk tolerance [5][34]. - The incident highlights a broader issue within the industry regarding the adequacy of risk disclosures and the appropriateness of marketing strategies employed by fund companies [21][50]. - The regulatory notice emphasized the need for fund companies to adhere to compliance standards and not prioritize short-term growth over professional integrity [21][50]. Group 4: Broader Industry Reactions - The incident has sparked a regulatory storm that may affect not only Debang Fund but also platforms like Ant Wealth, which facilitated the influencer's promotion [28][58]. - The regulatory body has called for enhanced self-regulation among fund sales institutions and third-party platforms to prevent misleading advertising practices [29][58].