专题：新浪仓石基金研究院 | 姓名 | 日报 | 任职日期 | ↓ 高职日期 | 任肥时长 | | --- | --- | --- | --- | --- | | 黄库 | 半蛋如 | 2023-01-13 | 2025-03-21 | 2年3月 | | 京加旺 | 副总经理 | 2022-11-07 | 2025-03-31 | 2年5月 | | 李淑麦 | 副总经理 | 2022-02-11 | 2024-11-29 | 2年10月 | | 赖庆孔 | 副总经理 | 2021-11-09 | 2025-05-07 | 3年7月 | | 月相运 | 副总监理 | 2021-06-18 | 2024-10-31 | 3年5月 | 其中，4 位 "投研系" 副总离职后，公司管理架构呈现明显 "去行政化" 趋势。冯明远等明星基金经理回 归投研一线，反映出公司试图通过专业化分工稳定业绩的意图。但李淑彦被曝涉及 "老鼠仓" 事件，以 及王建华因业绩压力离任，暴露出公司在合规管理与投研能力上的双重挑战。 7月30日，信达澳亚基金发布高级管理人员变更公告，副总经理王建华因 个人原因离任，离任日期2025 年7月28日。王 ...

当同行纷纷为投研人才做"去管理化"减法时，招商基金却反其道而行之，提拔朱红裕、王景两位基金经 理。这究竟是向市场秀出"重视投研"的肌肉，还是在行业"去行政化"与"专业化"的钢丝上踩出了独特的 平衡？ 新任总经理上任仅十天，招商基金管理有限公司（以下简称"招商基金"）又迎来高管层面的人事变动。 自2025年5月30日起，公司任命王景、朱红裕、陈方元为公司首席（副总经理级）。同一天内如此大规 模的高管任命，在业内实属罕见。 注：以上人物从左到右依次为王景、朱红裕、陈方元 值得关注的是，招商基金此次任命的三位公司首席中，朱红裕、王景两位基金经理此前已分别担任公司 首席研究官、总经理助理，陈方元则出任首席机构业务官。 2024年以来，公募基金行业屡有"副总级"基金经理卸任，业绩绞杀与行政重负压垮不少投研干将。当同 行纷纷为投研人才做"去管理化"减法时，招商基金却反其道而行之，提拔朱红裕、王景两位基金经理。 这究竟是向市场秀出"重视投研"的肌肉，还是在行业"去行政化"与"专业化"的钢丝上踩出了独特的平 衡？ | 管理公司 | 基金代码 | 产品名称 | 投资类型 | 任职日期 | 高任日期 | 任职园报 | 年化园报 ...

Core Viewpoint - The departure of Zhang Kun from the position of Vice President at E Fund marks the end of an era dominated by star fund managers, reflecting a shift in the company's management strategy and a response to performance pressures in the market [2][4][5]. Management Changes - Zhang Kun's resignation is part of a broader trend where star fund managers are stepping down from executive roles to focus on investment management, following similar departures of Xiao Nan and Chen Hao earlier this year [3][4][19]. - E Fund's management adjustments signify a strategic shift from a "star-driven" model to a more team-oriented and professional investment approach, emphasizing the importance of investment capabilities over individual star power [19][21]. Performance Analysis - Over the nearly five years of Zhang Kun's tenure as Vice President, his managed funds have seen a cumulative return of -11.22%, underperforming the CSI 300 Index, which had a return of -1.7% during the same period [7][18]. - The performance of Zhang Kun's flagship fund, E Fund Blue Chip Selection, experienced significant volatility, with a peak net value increase of 162% followed by a decline of over 56% [8][12]. Fund Management Strategy - Zhang Kun's investment strategy has evolved to focus more on risk management and sustainable business models, while still adhering to a long-term value investment philosophy [11][21]. - The shift in focus has led to increased attention on emerging industries and sectors, such as women's consumption and logistics, in response to changing market conditions [11][21]. Industry Trends - The trend of star fund managers stepping down from executive roles is indicative of a broader "de-administrative" movement within the public fund industry, with over 100 fund managers making similar transitions since 2024 [20][22]. - Regulatory changes are also influencing this trend, as new guidelines encourage fund managers to prioritize long-term investment returns, further supporting the shift towards a more collaborative and research-driven investment environment [22].