文｜资市会 2025年的"进度条"即将结束，百亿基金经理马翔又卸任了。 12月23日，汇添富基金公告称，马翔因公司内部工作调整卸任汇添富北交所创新精选两年定开的基金经 理。卸任后该基金由基金经理马磊单独管理。 这是马翔年内第四次卸任基金经理。卸任背后，Wind数据显示，2025年以来，马翔相继卸任的产品任 职回报良莠不齐。 其中，最新卸任的汇添富北交所创新精选两年定开业绩爆棚。马翔任职期间（2021年11月23日至2025年 12月22日），该基金A类份额收益率97.51%，超越业绩比较基准80.94个百分点。 汇添富科创板2年定开任职回报告负，为-12.16%，任职年化回报为-2.72%。 目前，马翔所管产品还有4只，在管基金规模达187.26亿元。其中，汇添富成长精选A、汇添富港股通科 技精选A的任职回报均告负。汇添富港股通科技精选刚成立于2025年10月28日。 汇添富北交所创新精选两年定开A成立于2021年11月23日，马翔是首位基金经理，首募规模4.95亿元， 汇添富基金的从业人员认购444048.14份。 作为北交所主题基金，该基金要求投资于北交所上市的股票占非现金资产的比例不低于80%，投资于港 ...

Core Viewpoint - The trend of transitioning from single fund manager models to multi-manager collaborative models is becoming increasingly prominent in the public fund industry, as evidenced by recent appointments at various funds [1][5][7]. Group 1: Fund Manager Appointments - Zhao Lei has been appointed as a co-manager for the China Europe Medical Health Mixed Fund alongside Ge Lan [1][2]. - Jin Xuwei has been appointed as a co-manager for the China Europe Value Growth Mixed Fund with Wang Jian [3]. - Song Ting has been appointed as a co-manager for the China Europe National Index 2000 Enhanced Fund with Qian Yating [4]. - Su Wenjie has been appointed as a co-manager for the GF Growth Power Three-Year Holding Mixed Fund with Zheng Chengran [5][6]. Group 2: Industry Trends - In the past year, a total of 29 products under China Europe Fund have adopted the "co-management" approach, indicating a clear shift towards team-based management [5]. - The transition from individual to team-based management is recognized as a significant transformation direction in the public fund industry [7]. - Regulatory bodies have emphasized the importance of team-based management structures in the public fund industry, as highlighted in the guidelines issued in 2022 and 2023 [7].

Group 1 - The core point of the article is the recent changes in fund management at E Fund, specifically the appointment of new fund managers for the E Fund Competitive Advantage Enterprises and E Fund Research Selection, indicating a shift in management strategy [1][2] - Feng Bo, the previous sole manager, has now appointed Guo Jie, He Chongkai, and Peng Ke as co-managers, suggesting a move towards a team-based management approach [1][2][10] - As of the end of the first quarter, Feng Bo managed assets totaling 12.472 billion yuan, but he has recently stepped down from managing two other funds due to "work needs" [2][10] Group 2 - Feng Bo's management history dates back to 2010, with a notable return of 131.18% over 15 years for the E Fund Industry Leader [3] - The E Fund Competitive Advantage Enterprises, launched with a record-breaking subscription of 239.9 billion yuan, has faced significant performance challenges, with a current net value of only 0.46 yuan and a return rate of -53.92% since inception [9][10] - The trend of appointing multiple fund managers is becoming common in the industry, with approximately 25% of open-end public funds in China managed by teams of two or more [11] Group 3 - The recent changes align with the China Securities Regulatory Commission's initiative to promote high-quality development in public funds, emphasizing the importance of team-based management to enhance investment capabilities [11][12] - Team-based management aims to mitigate risks associated with individual managers and improve performance stability through collaboration and complementary skills among fund managers [12] - However, effective team management requires that fund managers possess complementary strengths, such as macro analysis, industry trends, and stock selection [12]