Core Viewpoint - Manulife Fund is facing significant challenges due to the departure of key investment personnel, leading to a decline in fund performance and investor confidence [1][3][5]. Group 1: Key Personnel Changes - Star fund manager Wang Peng left Manulife Fund in January 2025, resigning from six products, which has raised concerns about the company's investment research capabilities [3][5]. - Wang Peng's successor, Zhuang Tengfei, also left shortly after taking over, indicating instability within the management team [1][3]. - Former General Manager Gao Guixin transitioned to a new role within two years, further highlighting the turnover in leadership [3]. Group 2: Fund Performance - After Wang Peng's departure, the flagship product "Manulife Transformation Opportunity" managed by Meng Jie saw a net value drop of nearly 14%, with assets decreasing by 20% [1][6]. - Meng Jie, who took over on January 23, 2025, managed to increase the total assets under management from approximately 2 billion to over 5 billion, but the performance has been disappointing [6][7]. - The "Manulife Wise and Steady Mixed Fund" managed by Meng Jie has also reported continuous losses from 2022 to 2024, with poor rankings among peers [8][10]. Group 3: Historical Context - Manulife Fund, established in 2002, was one of the first joint venture fund management companies in China, transitioning to a wholly foreign-owned entity in 2022 [4][3]. - The shift in ownership structure reflects broader trends in the Chinese fund industry, where many joint ventures have moved to foreign ownership following the lifting of restrictions on foreign stakes [4].