亏掉200亿、跑了5个副总，千亿信达澳亚还能买吗？

Core Viewpoint - The article discusses the challenges faced by Xinda Australia Fund, highlighting significant losses for investors while the fund management continues to earn substantial management fees. The frequent turnover of senior management and poor fund performance are central issues affecting the company's reputation and investor confidence [4][30][37]. Group 1: Management Changes - Xinda Australia Fund has experienced significant turnover in its senior management, with five vice presidents leaving in just one year, including the upcoming departure of Vice President Wang Jianhua [10][12]. - Wang Jianhua's tenure as a fund manager has been marked by poor performance, with all three funds he managed recording losses, the largest being a 37% decline [5][14]. - The instability in management is seen as detrimental to the company's operational effectiveness and team cohesion [9]. Group 2: Fund Performance - Over the past three years, Xinda Australia Fund has incurred losses exceeding 20 billion yuan for investors, while the company has collected over 2 billion yuan in management fees [6][30]. - Wang Jianhua's managed funds have shown significant declines, with total returns of -20.24%, -36.93%, and -7.22% for different funds [14][30]. - The overall performance of the fund has led to a drastic reduction in assets under management, with the scale dropping from 420 billion yuan at its peak to approximately 137.45 billion yuan by the end of 2024 [36]. Group 3: Financial Performance - The company's revenue has been on a downward trend for three consecutive years, with reported revenues of 1.067 billion yuan in 2022, 937 million yuan in 2023, and 644 million yuan in 2024 [33]. - Despite the losses incurred by investors, the management fee income for Xinda Australia Fund has remained high, with estimates suggesting it exceeded 2.6 billion yuan over the past three years [30][33]. - The management fee income accounted for 99% of the company's total revenue in 2024, indicating a reliance on fees rather than performance [33]. Group 4: Market Outlook - The article questions whether Xinda Australia Fund can leverage the recent market recovery to improve its performance and regain investor trust [38]. - The company is facing challenges in retaining talent and maintaining a strong product lineup, which could hinder its ability to compete effectively in the market [37].