Core Viewpoint - The frequent changes in leadership positions within public fund management companies indicate a dynamic environment in the industry, with over 30 chairperson changes reported this year alone [3][10]. Group 1: Leadership Changes - On August 23, Xinda Australia Fund announced the resignation of its chairperson, Zhu Ruimin, effective August 22, with Shang Jian taking over the role temporarily [2][4]. - Zhu Ruimin had previously resigned as the general manager of Xinda Securities on August 1, hinting at her departure from the fund management company [4][5]. - This year, over 30 fund management institutions have seen changes in their chairpersons, reflecting a trend of high turnover in public fund leadership [3][9]. Group 2: Fund Management Scale and Background - Xinda Australia Fund has a management scale exceeding 100 billion yuan, established in June 2006 as the first fund management company in China controlled by a state-owned asset management company [6]. - The company is a joint venture between China Xinda Asset Management and the wholly-owned subsidiary of the Commonwealth Bank of Australia, marking it as the first Australian fund management company in China [6]. Group 3: Broader Industry Trends - Since the beginning of 2025, there have been 109 fund management institutions experiencing executive changes, involving 253 executives [8]. - The most significant turnover has been among vice presidents, with 88 changes, while chairpersons and general managers have seen 62 and 52 changes, respectively [9]. - Recent chairperson changes have also occurred at other notable fund companies, including Huabao Fund and Allianz Fund, indicating a widespread trend across the industry [9][10].

Group 1 - The core point of the news is the appointment of Xia Xuesong as the new chairman of Huabao Fund, following the resignation of Huang Kongwei due to age-related reasons [1][4] - Xia Xuesong has a strong background, having previously held various positions at Baosteel Group and Baosteel Co., including roles such as Secretary of the Board, CFO, and General Manager [2][3] - Under Huang Kongwei's leadership, Huabao Fund experienced steady growth, managing 153 public fund products with a total asset management scale of 355.7 billion yuan as of the end of Q2 2025 [4][5] Group 2 - The public fund industry has seen a notable increase in executive changes this year, with several companies announcing new chairpersons or general managers in a short period [6][7] - Reasons for these changes include company development needs, personal career planning, and an increase in retirements among senior executives [7] - The year marks the 27th anniversary of China's public fund industry, leading to a generational shift as experienced professionals retire and new talent enters the field [7]

Core Insights - The recent appointment of Ye Cai as the new chairman of Invesco Great Wall Fund has drawn attention within the industry, marking a significant leadership change [1][2] - The fund has experienced a notable increase in its public fund management scale, reaching 646 billion yuan by the end of Q2 2025, ranking 20th among 162 licensed public fund institutions in the market [1][3] Company Overview - Invesco Great Wall Fund was established on June 12, 2003, as the first Sino-American joint venture fund company in China, with a registered capital of 130 million yuan and headquartered in Shenzhen [1] - The company has undergone seven chairmanship changes since its inception, all of which have been from the Huaneng Group, indicating a strong influence from its major shareholders [2] Management Changes - The frequency of management changes in the public fund industry has been high in 2025, with a total of 243 executive changes across 107 companies, including 55 chairmen and 50 general managers [4][5] - The recent trend of high turnover in leadership positions is attributed to industry competition, shareholder strategic adjustments, and individual career planning [1][4] Financial Performance - In 2024, Invesco Great Wall Fund reported an operating income of approximately 3.373 billion yuan, a year-on-year decrease of 11.93%, and a net profit of about 951 million yuan, down approximately 19% [2] Business Strategy - The fund has been actively expanding its fixed income and index business segments, with a notable focus on its ETF offerings, which have reached a scale of 61.708 billion yuan [3]

Core Viewpoint - The announcement of a new chairman, Ye Caixin, for Invesco Great Wall Fund has drawn attention in the industry, marking a significant leadership change in the company [2][4]. Company Overview - Invesco Great Wall Fund was established on June 12, 2003, as the first Sino-American joint venture fund company in China, co-founded by Invesco and Great Wall Securities, along with other partners [4]. - The company has a registered capital of 130 million yuan and is headquartered in Shenzhen [4]. - As of the end of Q2 this year, the fund's public offering management scale reached 646 billion yuan, ranking 20th among 162 licensed public fund institutions in the market [5]. Leadership Change - Ye Caixin officially took over as chairman on August 4, 2025, succeeding Li Jin, who left due to the expiration of his term [3][4]. - Ye has extensive experience in finance, having held various positions within China Huaneng Group and its subsidiaries, including roles as Chief Accountant and General Manager [3]. - This change marks the seventh chairman for Invesco Great Wall Fund, all of whom have been affiliated with Huaneng Group [4]. Financial Performance - In the previous year, Invesco Great Wall Fund reported an operating income of approximately 3.373 billion yuan, a year-on-year decrease of 11.93%, and a net profit of about 951 million yuan, down approximately 19% [5]. - The fund has been expanding its business in fixed income and index products, with its ETF business reaching a scale of 61.708 billion yuan [5]. Industry Context - The frequency of executive changes in the public fund industry has been notably high this year, with over 240 changes reported across 107 companies [6][7]. - The changes include 55 chairmen and 50 general managers, indicating a trend of management restructuring in response to competitive pressures and strategic adjustments within the industry [7][11].

Management Changes - The former chairman of Zhongjia Fund, Xia Yuanyang, has left due to work arrangements, and Yang Lin has been appointed as the new chairman, marking the fourth leadership change in the company [1][2] - The frequent management changes in the public fund industry, including Zhongjia Fund, are seen as strategic decisions amid a sluggish equity market [2] - Yang Lin, the new chairman, has extensive experience in finance, having worked in various sectors including securities, trust, and listed banks [2] Fund Performance - Zhongjia Fund has a total scale of 1308.71 billion, with bond funds making up 90.48% of this total at 1184.09 billion [2] - The performance of money market funds has declined significantly, dropping from 404.92 billion in Q1 2018 to only 95.13 billion in H1 2025, indicating increased competition in this category [4] - The mixed and stock fund scales are notably low, with mixed funds at 12.67 billion (down 84% from a peak of 79.18 billion) and stock funds at only 1.73 billion [6][8] Challenges in Equity Investment - Zhongjia Fund's equity performance has been poor, with mixed funds contributing minimally to overall scale [6][8] - The company has not capitalized on previous equity market opportunities, leading to a lack of significant growth in equity fund sizes [8] - The fund manager team is relatively inexperienced, with most members having less than three years of tenure, which raises concerns about long-term performance [9][10] Need for Reform - To improve its equity offerings, Zhongjia Fund needs to implement significant reforms, including attracting talented fund managers and enhancing its research and investment systems [13] - The company faces challenges in brand recognition, with a high percentage of its funds held primarily by institutional investors, indicating a lack of retail investor engagement [12] - The recent regulatory changes in the public fund industry may further accelerate the trend of resource concentration towards larger fund companies, making it imperative for Zhongjia Fund to enhance its competitive positioning [12]

Group 1 - Ding Luming, former chief analyst at CITIC Securities, announced his transition to the buy-side by founding Shanghai Ruicheng Private Fund Management Co., Ltd. with a registered capital of 10 million yuan [1] - Ruicheng Private Fund was officially registered on April 21, 2025, and completed its private securities investment fund manager registration on July 14, 2025 [1] - Ding Luming has 17 years of experience in the securities industry and his move may attract attention and funds to the private equity sector, potentially enhancing market vitality [1] Group 2 - The first batch of 10 Science and Technology Innovation Bond ETFs was listed on July 17, 2025, after a rapid approval and issuance process [2] - The swift launch of these ETFs indicates strong market interest and is expected to attract more funds to the technology sector, providing new investment channels [2] - The introduction of Science and Technology Innovation Bond ETFs reflects market recognition of technological innovation, which may enhance overall market activity [2] Group 3 - Northeast Securities announced a capital reduction for its wholly-owned subsidiary Dongzheng Rongda, reducing its registered capital to 1 billion yuan due to negative revenue and profit figures [3] - Dongzheng Rongda reported a total revenue of -1.836 million yuan and a net loss of -16.3112 million yuan for the year ending 2024, indicating significant operational challenges [3] - The capital reduction trend among brokerages may raise concerns about the competitive landscape within the industry and prompt investors to reassess risks [3] Group 4 - Zhongjia Fund announced a change in leadership with Yang Lin appointed as the new chairman, following the departure of former chairman Xia Yuanyang [4] - Over 230 public fund executives have changed this year, indicating a trend of increasing talent mobility within the industry [4] - Frequent changes in fund management may introduce new dynamics and expectations for stock prices, necessitating adaptation to new management styles [4]

7月14日晚间，汇添富基金也发布关于董事长变更的公告，显示原董事长李文因董事会换届离任，鲁伟铭新任董事长。 根据Wind数据，本月已有将近40名基金高管发生变更，而今年以来发生变动的公募高管人数已超230人，显示出公募行业人才持续流动的趋势。 中加基金官宣更换董事长 又有基金公司宣布变更董事长。7月16日，中加基金发布公告，原董事长、法定代表人夏远洋因工作安排离任，杨琳新任董事长、法定代表人。 事实上，进入7月以来已有多家公司的"掌舵人"发生变更。就在昨天晚上，明亚基金总经理丁玥和副总屠建宗因个人原因在同日离职，一度引发行业 热议。 又一家千亿公募宣布更换董事长。 7月16日，中加基金发布公告称，原董事长、法定代表人夏远洋因工作安排，已于7月15日离任，不再转任公司其他岗位。杨琳新任中加基金董事长和 法定代表人。 简历信息显示，杨琳曾先后在财务公司、信托公司、证券公司任职。在北京银行工作期间， 杨琳历任北京银行资产管理部总经理助理、副总经理， 公司银行部副总经理，党委宣传部部长、 品牌管理部（客户体验部）总经理。 | 新任高级管理人员职务 | 董事长、法定代表人 | | --- | --- | | 新任高级管 ...

2025.07. 15 本文字数：848，阅读时长大约2分钟 汇添富基金成立于2005年2月，至今已有20年历史。年报数据显示，2024年，该公司营业收入为 48.28亿元，净利润为15.47亿元，同比增加9.3%。 在汇添富之前，多家基金公司近期已发生人事变动。Wind数据显示，截至7月15日，今年以来已有 98家基金公司出现高管变动，高管变更人数多达217人。换言之，年内已有近半数机构的管理层发 生变动。 其中，24家基金公司更换了董事长，董事长变动人数达到45人。如兴证全球基金6月公告，原董事 长杨华辉因年龄原因辞任，由总经理庄园芳将代为履职。中银基金、红土创新基金等也于年内迎来董 事长更迭。 在业内人士看来，公募基金近年来呈现出高速发展态势，公司高管的频繁变更基本与行业的发展呈现 出了正相关，保持着较高的流动性。与以往不同的是，今年来行业发展迎来新老交替，多名高管步入 退休或面临退休的年龄，一些年轻人才走马上任。此外，股权变更、考核体系变革、业绩压力等，也 促使高管团队持续洗牌。 作者 | 第一财经 曹璐 又一家头部基金公司迎来高管变更。 汇添富基金7月15日公告，原董事长李文因董事会换届离任，职务将 ...

行业高管变动呈现密集化态势 公募基金行业高管变动频率明显加快。统计数据显示，截至2025年6月4日，年内已有15家公募基金变更了董事长职务。这些公司包括易方达基金、景顺长城 基金、方正富邦基金、国海富兰克林基金、兴银基金、天治基金、海富通基金、东海基金等知名机构。红土创新基金的加入使得这一数字增至16家。 新老交替成为主流趋势 红土创新基金此次高管变更体现出公募行业新老交替的典型特征。阮菲自2020年9月29日起担任红土创新基金董事长，任期近5年时间。她曾担任红土创新基 金市场总监、副总经理等职务，拥有丰富的基金行业从业经验。此前还曾在长城证券股份有限公司、景顺长城基金管理有限公司、深圳市启元财富管理顾问 有限公司等机构任职。2017年10月，阮菲加入深圳市创新投资集团有限公司，担任集团公司基金管理部总经理。 代任董事长的冀洪涛于2021年加入红土创新基金担任总经理及董事。他具备深厚的投资管理背景，曾任华夏证券大连分公司投资经理、大连证券研究发展部 副总经理兼沈阳分公司副总经理。随后在巨田基金管理有限公司担任投资部总监兼基金经理，在鹏华基金管理有限公司担任总裁助理兼权益投资总监。这些 经历为他积累了丰富的基金 ...

5月29日，方正富邦基金披露公告，原董事长何亚刚因退休宣布离职，新一任董事长由李岩接任。 资料显示，李岩曾在平安证券、方正证券等券商任职，此前担任方正证券股份有限公司董事、执行委员会委 员、副总裁、财务负责人及董事会秘书。 此外，他还曾任花样年集团(中国)有限公司首席运营官以及平安理财财务总监，2023年1月，李岩获聘方正证 券执行委员会委员、副总裁、财务负责人、董事会秘书，同时也兼任方正香港金控董事长，瑞信证券副董事 长，方正承销保荐及方正和生投资董事。 在公募行业经历了27个春秋后，多家公司高管在近年步入退休年纪，且当前公募高管队伍涌现了许多年轻面 孔。有基金人士分析，新一代高管的上任有望为公募基金行业注入新的活力和创新思维，但也需要应对更加复 杂多变的市场环境，这对投资策略和风险管理能力提出了更高要求。 方正富邦基金原董事长退休离职 何亚刚职业生涯深耕于证券行业，资料显示，何亚刚最早任职于泰阳证券，后加盟民生证券任总裁助理，2003 年转入方正证券历任助理总裁、副总裁，至2007年回归泰阳证券担任总裁。 多名公募高管步入退休年龄 除了方正富邦基金外，5月以来，先锋基金、华泰柏瑞基金、招商基金、宝盈基金、 ...