Core Viewpoint - The resignation of veteran fund manager Zou Xi from Rongtong Fund, along with the ongoing trend of fund manager departures amid a bull market and compensation reforms, signals a shift in the industry towards a new generation of managers [1][2][6]. Group 1: Fund Manager Resignation - Zou Xi has resigned from managing four funds, including Rongtong Industry Prosperity and Rongtong Industry Trend, and is succeeded by several mid-generation fund managers [1][3]. - Zou Xi has been with Rongtong Fund since February 2001 and has significantly contributed to the firm's investment strategies and performance [1][4]. - The transition of fund management to mid-generation managers, such as Li Jin and He Long, reflects the company's focus on nurturing new talent [3][4]. Group 2: Industry Trends - The current bull market is accelerating the trend of fund manager departures, with historical data showing that such departures peak during bullish market conditions [6][7]. - Since 2016, the number of fund manager resignations has been increasing, with a record high of 322 departures in 2021, surpassing previous peaks in 2007 and 2015 [7]. - The industry is witnessing a shift where veteran managers are leaving to establish their own firms or join private equity platforms, indicating a significant transformation in the public fund sector [6][7]. Group 3: Company Strategy - Rongtong Fund is enhancing its research and investment capabilities by optimizing its organizational structure and introducing core talent since becoming a state-owned public fund company in 2022 [4][5]. - The company has established a large asset allocation investment committee to determine strategic asset allocation on a quarterly basis, aligning with industry reform requirements [5]. - The firm emphasizes a "platform-based, team-oriented, integrated, and multi-strategy" investment research system to strengthen its competitive position in the market [4][5].

Core Viewpoint - The resignation of veteran fund manager Zou Xi from multiple funds at Rongtong Fund signals a shift in the industry, with a focus on nurturing mid-generation managers amid a bull market and compensation reforms [1][2][4][5][8] Group 1: Fund Manager Resignation - Zou Xi has resigned from managing four funds, including Rongtong Industry Prosperity and Rongtong Leading Growth, passing the responsibilities to several mid-generation managers [1][4] - Zou Xi's tenure on Rongtong Industry Prosperity lasted over 13 years, achieving a return of 161.32% during his management [4] - The transition involves notable managers such as Li Jin, He Long, Wan Minyuan, and Cheng Yuekai, indicating a strategic shift within the fund management team [4][5] Group 2: Industry Trends - The current bull market is accelerating the trend of fund manager resignations, with historical data showing that departures often peak during such market conditions [8] - The fund industry is experiencing a transformation, with a focus on internal adjustments and the cultivation of mid-generation talent [5][6][8] - The establishment of a large asset allocation investment committee and the optimization of a public portfolio operation mechanism reflect the industry's response to reform requirements [6][7]