Core Viewpoint - The article discusses the phenomenon of institutional investors having advance knowledge of fund manager departures, leading to early redemptions that harm individual investors, highlighting the issue of information asymmetry in the mutual fund industry [1][12]. Group 1: Fund Manager Departures - As of November 10, 2023, 276 fund managers have left their positions this year, including notable figures such as Zou Xi and Jiang Feng [1]. - Prior to their official announcements, many of these fund managers experienced significant redemptions in their funds, indicating that institutional investors were aware of their departures beforehand [1][3]. Group 2: Redemption Data - Specific funds managed by departing managers saw substantial redemptions: - For example, Yang Siliang's funds experienced redemptions of 7.51 million and 2.22 million shares, leading to a decrease in assets of 13.71 billion and 17.1 billion respectively, representing declines of 73.51% and 64.3% [2][3]. - Other funds managed by different departing managers also faced significant redemptions, with percentages ranging from 6.08% to 64.30% [2][4]. Group 3: Institutional Investor Influence - Institutional investors hold a significant portion of mutual fund assets, with their share increasing from 29% in 2012 to 51% by the end of 2019, and currently at 48.25% [5][6]. - Institutions are considered "smart money" due to their expertise and large capital, which allows them to exert considerable influence over fund operations [6][7]. Group 4: Ethical Concerns and Market Transparency - The practice of institutional investors receiving advance notice of fund manager changes raises ethical questions regarding market transparency and fairness for individual investors [12]. - Current regulations do not explicitly prohibit fund managers from informing institutional clients about their departures, leading to potential exploitation of information asymmetry [12][13]. Group 5: Regulatory Developments - The China Securities Regulatory Commission has emphasized the need for investor-centric practices in the mutual fund industry, aiming to address the issues of information disparity and protect individual investors [12]. - A unified marketing service platform for institutional investors has been launched, indicating a move towards stronger regulation in the industry [13].

智通财经记者统计发现，上述绩优基金经理官宣离任前，他们的代表作基金均出现了规模不等的提前赎回。 智通财经记者 | 杜萌 智通财经编辑 | 宋烨珺 今年，多位绩优基金经理官宣离任。而在官宣前，他们离职的消息就在业内暗暗流传。 通过多只基金的季报数据，智通财经发现，面对或真或假的离职消息，不少基金持有人都会选择赎回观望，而提前赎回大量资金的多数为机构投资者。信息 不对称的基民，在基金经理官宣离任后才意识到正在"傻傻站好最后一班岗"。 机构投资者作为某些基金的"大金主"，为何能提前精准知晓基金经理的变动？"机构先跑"的背后，折射出一个公募基金被质疑许久的问题：同为投资者，个 人和机构何时能真正实现信息平等和同权？ 机构先跑 Wind数据显示，截至11月10日，今年已有276位基金经理离任，其中不乏邹曦、江峰、马龙、鲍无可、周海栋、杨思亮等知名基金经理。 | 013859.OF | 宝盈品质甄选A | | --- | --- | | 013958.OF | 华商鑫选回报一年持有 | | 018561.OF | 中信保诚多策略混合 | | 001508.OF | 富国新动力A | | 000390.OF | 华商优势行 ...