四位基金经理共管一只年内业绩垫底的“迷你”产品 此前兴华基金数只“迷你”基被清盘

Core Viewpoint - The recent appointment of a new fund manager for the Xinghua Jingcheng Mixed Securities Investment Fund has sparked market discussions, particularly given the fund's poor performance and small size of under 80 million yuan at the end of last year [1][4]. Fund Management Changes - Xinghua Jingcheng Mixed Fund has appointed Huang Shengpeng as a new fund manager, joining the existing team of three managers: Cui Tao, Lü Zhizhuo, and Hu Xichao [2][3]. - The fund's size was reported at 77.91 million yuan at the end of last year, making it one of the smallest funds in the market [4]. Performance Metrics - The fund has experienced a negative return of 12.62% year-to-date, significantly underperforming its benchmark by 14.79 percentage points [4]. - Since its inception on July 9, 2022, the fund has achieved a total return of 7.76%, lagging behind its benchmark by 5 percentage points [4]. Management Team Background - The new fund manager, Huang Shengpeng, has 8 years of industry experience and has previously managed funds with a return of approximately 42% [5]. - The existing managers have varying levels of experience, with concerns about their ability to manage equity products effectively [5]. Company Overview - Xinghua Fund Management Company, established in 2020, is a relatively young public fund management firm in China, currently managing 14 public fund products with a total asset size of 7.098 billion yuan [6]. - The company has faced challenges, including the liquidation of several funds due to low asset sizes and a failed fundraising attempt earlier this year [6]. Regulatory Issues - The company and its senior management received a warning from the China Securities Regulatory Commission for violating regulations related to private asset management [9].