成为独资公募以来人员离职频繁 据了解，宏利基金成立于2002年6月，是一家有着23年历史的基金公司。宏利基金此前有过多次股权变更。 2022年底，宏利基金在最新一轮股权变更后，成为外商独资公募。 7月25日，券商中国记者就此事联系宏利基金相关人士。相关人士回复称，该事件大约发生在5年之前，当时宏 利基金尚未转为外商独资基金。宏利基金保持与相关主管部门积极沟通，目前此事已妥善解决。 截至目前，宏利基金公募管理规模955.61亿元，在全市场公募持牌机构中排名62位。从2022年至今这三年左右 时间里，宏利基金出现多起人事变更，包括总经理高贵鑫、王鹏等知名基金经理。 违规遭处罚 处罚公告显示，宏利基金违反了《外国投资者境内直接投资外汇管理规定》（汇发〔2013〕21号文印发）第十 条第一款、第十七条。处罚依据为《中华人民共和国外汇管理条例》（中华人民共和国国务院令第532号）第 四十八条第（五）项。 《中华人民共和国外汇管理条例》第四十八条显示，有下列情形之一的，由外汇管理机关责令改正，给予警 告，对机构可以处30万元以下的罚款，对个人可以处5万元以下的罚款：一是未按照规定进行国际收支统计申 报的；二是未按照规定报 ...

新经济e线 又见外商独资公募高管变动。 7月19日，富达基金管理（中国）有限公司发布公告，原董事长黄小薏因个人原因卸任董事长一职。 富达基金表示，在黄小薏的领导下，富达在中国的外商独资公募基金业务取得众多里程碑式的进展，包括获批公募基金牌照，并在极具挑战的市 场环境下发行10只公募基金和多个专户产品。 根据安排，李少杰将接任富达基金董事长一职，同时继续履行其在富达国际的现有职责。而近期富达国际已宣布任命孙晨出任富达基金总经理， 孙晨将带领团队落实公司的业务策略方针。 新经济e线获悉，今年除富达基金外，还有多家外商独资公募出现了高管人事变动的情况，涉及公司包括贝莱德基金管理有限公司、摩根基金管理 （中国）有限公司、宏利基金管理有限公司等。 双重困境下的换帅 从公开资料可以得知，此次富达基金高管变动涉及的两人都是资管行业的老将。 据新经济e线了解，黄小薏曾在加拿大道明银行证券公司、Acthop投资公司从事金融分析、财务管理和公司治理等工作；2003年5月至2022年4月期 间历任华宝基金营运总监、董事会秘书、副总经理、总经理等职务。随后，黄小薏于2022年正式加入富达基金，成为首任总经理；2024年10月， 黄小 ...

根据安排，李少杰将接任富达基金董事长一职，同时继续履行其在富达国际的现有职责。而近期富达国际已宣 布任命孙晨出任富达基金总经理，孙晨将带领团队落实公司的业务策略方针。 黄小薏交棒李少杰 7月19日，富达基金管理（中国）有限公司发布公告，原董事长黄小薏因个人原因卸任董事长一职。 7月19日，富达基金管理（中国）有限公司发布公告，原董事长黄小薏因个人原因卸任董事长一职，由李少杰 接任。与此同时，李少杰将继续履行其在富达国际的现有职责。 富达基金表示，黄小薏领导富达中国走过了最关键的三年。在黄小薏的领导下，富达在中国的外商独资公募基 金业务取得众多里程碑式的进展，感谢黄小薏这些年来为公司做的重要贡献和辛苦付出。 资料显示，黄小薏曾任加拿大明道银行证券公司（TD Securities）金融分析师、Acthop投资公司财务总监。 2003年，黄小薏回国加入华宝基金，成为国内首批中外合资公募的"拓荒者"之一。2020年，中国正式放开金融 机构外资持股比例限制，外商独资公募加速落地。2022年，黄小薏正式加入富达基金。 富达基金表示，在黄小薏的领导下，富达在中国的外商独资公募基金业务取得众多里程碑式的进展，包括获批 公募基 ...

本报记者 方凌晨 近日，国家金融监督管理总局局长李云泽在2025陆家嘴论坛开幕式上表示："中外资机构优势互补、竞合发展，丰富了机 构类型和产品服务，更好满足了多样化金融需求。实践证明，外资机构是引资、引智、引技的重要桥梁纽带，是中国现代金融 体系建设的重要参与者和积极贡献者。" 事实上，外商独资私募频频推出各类基金产品，加速布局中国市场。6月23日，富达基金旗下富达港股通精选混合发起正 式开始发行，外商独资公募产品队伍有望持续壮大。 随着国际资管机构加速布局，目前我国境内已有富达基金、路博迈基金、宏利基金、摩根资产管理等9家外商独资公募。 今年以来，外商独资公募新产品发行节奏明显加快。截至6月23日，年内外商独资公募合计新成立公募基金共26只，募集规模 达324.01亿元，数量和规模分别较去年同期增长117.67%和42.5%。 晨星（中国）基金研究中心高级分析师李一鸣认为，外商独资公募产品本土化步伐持续加快，是政策开放、市场吸引力等 综合因素共同作用的结果。 "近年来，中国持续推进资本市场高水平制度型开放，例如，2020年证监会明确取消证券公司、基金管理公司外资股比限 制。监管部门在鼓励支持外资机构来华展业 ...

Core Viewpoint - The article highlights the challenges faced by foreign-funded public funds in the bond fund sector, where despite a significant number of products, many are struggling with small scales and poor performance, leading to potential fund terminations [2][3][10]. Summary by Sections Market Overview - As of May 19, the total number of bond funds in the market exceeded 3,800, with a total scale surpassing 10.1 trillion yuan. However, foreign-funded public funds only manage 73 bond funds with a combined scale of approximately 117.9 billion yuan, accounting for about 1.17% of the total market [2][3]. Product Performance - Many foreign-funded bond funds are experiencing a "miniaturization" effect, with nearly 30% of their products having scales below 200 million yuan. For instance, the Fidelity China Government Bond Fund faced significant redemptions, dropping from an initial scale of 2.4 billion yuan to 30 million yuan within eight months [2][6][8]. Challenges Faced - Foreign-funded public funds are encountering multiple challenges, including a lack of competitive channels and a cautious approach to bond selection due to risk control considerations. This has resulted in smaller scales and insufficient yield competitiveness for their bond funds [3][8]. Recent Developments - In 2024, foreign-funded public funds have focused on expanding their bond fund offerings, with several new products launched. However, many of these funds have not maintained their initial scales, with significant reductions observed shortly after launch [4][5][6]. Performance Comparison - The average yield of foreign-funded bond funds is 0.47%, which is lower than the overall market average of 0.63%. Some funds have recorded negative returns, indicating performance issues that may contribute to their inability to retain scale [10][11]. Market Dynamics - The bond fund market has seen a contraction in scale, particularly in pure bond funds, which have experienced net redemptions. As of the end of the first quarter, the total scale of bond funds was approximately 10.07 trillion yuan, a decrease of nearly 482 billion yuan compared to the end of 2024 [11].

Core Viewpoint - Foreign-funded public funds are facing challenges in the bond fund sector, with a significant number of their products experiencing scale shrinkage and underperformance in returns [1][6][7]. Group 1: Market Overview - As of May 19, the total number of bond funds in the market exceeded 3,800, with a total scale surpassing 10.1 trillion yuan [1]. - Foreign-funded public funds have only 73 bond funds with a combined scale of approximately 117.9 billion yuan, accounting for about 1.17% of the total market [1][2]. Group 2: Product Performance - The Fidelity China Bond 0-2 Year Government Bond Fund faced significant redemptions, dropping from an initial scale of 2.4 billion yuan to 30 million yuan within eight months [1][3]. - Many foreign-funded bond funds, despite initial successful fundraising, have struggled to maintain their scale, with some funds shrinking significantly post-launch [3][4]. Group 3: Challenges Faced - Foreign-funded public funds are at a disadvantage in channel resources and face challenges in product differentiation due to market homogenization [2][6]. - The local adaptation of foreign-funded funds in the Chinese market is limited, affecting their ability to meet local investor needs [6]. Group 4: Performance Metrics - The average yield of foreign-funded public bond funds is 0.47%, underperforming the overall market average of 0.63% [7]. - Over 40% of foreign-funded bond funds have failed to outperform their performance benchmarks since inception [7]. Group 5: Market Trends - The bond fund market has seen a contraction, with a reduction of nearly 482 billion yuan in total scale by the end of the first quarter of 2024 [8].