Core Viewpoint - The departure of seasoned fund manager Jiang Qiu from Huazhong Fund marks the second significant loss of an equity talent within a year, raising concerns about the stability and performance of the fund's investment team [1][7]. Group 1: Departure of Key Personnel - Jiang Qiu, a veteran with over 14 years of experience, has resigned and liquidated all nine managed products as of January 19, 2026, potentially moving to private equity [1][2]. - This follows the earlier departure of Li Xin in May 2025, who also left all managed products for personal reasons [1][7]. - The loss of these two key figures has created a gap in Huazhong Fund's mid-level talent, particularly affecting the stability of performance in its equity investment team [1][7]. Group 2: Performance of Managed Products - Jiang Qiu's managed products had a total scale of 55.78 billion yuan, with six out of nine products showing positive returns [2][5]. - The best-performing product, Huazhong Dynamic Flexible Allocation, achieved a return of 202.24% and an annualized return of 11% over more than ten years [2][3]. - Conversely, some products under Jiang Qiu's management, such as Huazhong Innovation, reported negative returns, highlighting performance inconsistencies [5][6]. Group 3: Impact on Fund Management - The current equity team at Huazhong Fund is experiencing significant talent loss, with several managers underperforming [11][12]. - The fund's active equity management scale has decreased from 1,896.99 billion yuan in 2021 to 880.34 billion yuan by the end of 2025, indicating a substantial contraction [13]. - Hu Yibin remains the only fund manager managing over 100 billion yuan, emphasizing the shrinking talent pool within the firm [13][14]. Group 4: Future Outlook and Strategy - Experts suggest that Huazhong Fund needs to strengthen its internal research capabilities and enhance the training of younger fund managers to rebuild its competitive edge [18]. - The firm aims to maintain a balanced investment strategy and improve its performance despite recent challenges [17][18].